What's the best software?

[mob008]

Hi Guys,

I'm currently using the EFX demo and plan to for some time whilst I get my eye in. In conjunction with this I've got access to Web Iress which I'm using for charting and it's ok but I'm wondering what most people use and the costs associated with them?

Also keen on knowing the pros and cons e.g. rules based automated trading etc of each package, but having said that my initial thought is for charting.

Having said that I'm taking it EFX is a bit behind the actual market being a demo version right? or does it have to do with the difference between ECN and the actual market although that wouldn't make sense?

 

[tayser]

Re: Whats the best Software

Technically you're looking at the same market when on their demo, except for:

- the live limit orders from other people on their network.
- it lags a bit because they claim it's their test server, but generally there's no difference in the bank quotes.
- I have sent a market order on the demo with 100 lots when only a few were available and the system's reported back that I was 100% filled at my price - this wouldnt happen in the real market (you'd soak up the liquidity from the next best quote), apart from little nuances like that, the 'simulation' is very close.

I still run my charts through NinjaTrader which connects to the demo platform (can't login to an account (live or demo) more than once) and the differences between quotes on the live platform and the demo can change a fair bit with live orders obviously filtering through the market depth. I was a bit the other day when EUR/USD was out by a pip, and there were some seriously large limit orders by other users flying through the market depth on the network - hammer and tong! can't wait to get there

vive le ECN liquidity!

 

[mob008]

Re: Whats the best Software

Thanks mate

Do you plan to stick with Ninja when you go live? Do you know how much are they for a live account?