To use chat, please login.
Back to contacts

Myfxbook Autotrade

PhilTrader (PhilTrader)
Feb 21 2017 at 08:37
13 posts
Guys, I have a question upon the brokers that are working with Autotrade.
MY main Account currently is with JFD but thats no broker I can use for Autotrade.

So I just had a 'bad' experience as from my first check FXCM was listed as a 'good broker' so I opened an account with them.
After 1 week my papers were done and my Account was up and funded - but I still had no MT4 login data so I called their support and only was informed that my Account was for 'TradingStation' and that I have to open a NEW account for MT4 - which will take another 2 days - and then transfer my funds there.
For me thats not really showing good work - I opened my JFD account and got all possibilities for 'working' - never had to choose what platform I will use.
And I now also know that FXCM needed 300mio last year no to go bancrupt - and that the lost their US license some month ago.

SO - I closed my account and withdraw my money - BUT I dont really get good info an all brokers listed for AutoTrade.
I dont like Marketmakers and I like one that is reliable like JFD - so which one can you recommend ?
Thanks
vontogr (togr)
Feb 21 2017 at 09:45
4862 posts
PhilTrader posted:
Guys, I have a question upon the brokers that are working with Autotrade.
MY main Account currently is with JFD but thats no broker I can use for Autotrade.

So I just had a 'bad' experience as from my first check FXCM was listed as a 'good broker' so I opened an account with them.
After 1 week my papers were done and my Account was up and funded - but I still had no MT4 login data so I called their support and only was informed that my Account was for 'TradingStation' and that I have to open a NEW account for MT4 - which will take another 2 days - and then transfer my funds there.
For me thats not really showing good work - I opened my JFD account and got all possibilities for 'working' - never had to choose what platform I will use.
And I now also know that FXCM needed 300mio last year no to go bancrupt - and that the lost their US license some month ago.

SO - I closed my account and withdraw my money - BUT I dont really get good info an all brokers listed for AutoTrade.
I dont like Marketmakers and I like one that is reliable like JFD - so which one can you recommend ?
Thanks

Solid brokers are these
IC Markets
Pepperstone
Tickmill
ThinkMarkets
Trader's Way

I dont list tradeview eventhough these guys have great reviews I found them to be a lot confused.
TradersWay regulation is weak but I have great experience with them.
IcMa + Pepper - Have been using them for years. Have good regulation.
WeeChong Lee (leeweechong)
Feb 21 2017 at 15:20
10 posts
None of them are safe. That's why it is not advisable to keep to big a deposit in your account; even if they are regulated. I can only tell you about the ones I know.

SimpleFX - My main account. Fast, easy, responsive and simple to use. No commission charges but spread can go crazy during volatile period. Their MT4 client is pretty easy to use and responsive. No regulated. So far, never had any problems with withdrawals but it does take a week or so. Online support is excellent.

IC Market - Regulated and reputable. Opening an account is very easy and I had it funded with days. Have not tried any withdrawals yet as this account is new and just started trading. Spread is really think but commission is $7 per lot. Online support is very responsive and follows up quickly. Agent called me up to ensure that everything is smooth.

PepperStone - New account. So far, extremely pleased with their support. The best out of all the brokers. They assigned an agent in charge of my account who kept me updated on the progress.

FXOpen - New account. Not very impressed as my PepperStone account is up and running while FXOpen are still processing my application.

Depends on what you want. SimpleFX is not on AutoTrade but it is a broker that you can make money with. IC Markets and Pepperstone is pretty good with their support.
WeeChong Lee (leeweechong)
Feb 21 2017 at 15:21
10 posts
Sorry for the typing errors..
PhilTrader (PhilTrader)
Feb 21 2017 at 15:23
13 posts
Ok how about BlackBull then? I find only good ratings for them online.

I closed my FXCM account - not really reliable if already the account opening isnt handled very flexible.
Genar
gels4
Feb 21 2017 at 15:39
10 posts
togr posted:
PhilTrader posted:
Guys, I have a question upon the brokers that are working with Autotrade.
MY main Account currently is with JFD but thats no broker I can use for Autotrade.

So I just had a 'bad' experience as from my first check FXCM was listed as a 'good broker' so I opened an account with them.
After 1 week my papers were done and my Account was up and funded - but I still had no MT4 login data so I called their support and only was informed that my Account was for 'TradingStation' and that I have to open a NEW account for MT4 - which will take another 2 days - and then transfer my funds there.
For me thats not really showing good work - I opened my JFD account and got all possibilities for 'working' - never had to choose what platform I will use.
And I now also know that FXCM needed 300mio last year no to go bancrupt - and that the lost their US license some month ago.

SO - I closed my account and withdraw my money - BUT I dont really get good info an all brokers listed for AutoTrade.
I dont like Marketmakers and I like one that is reliable like JFD - so which one can you recommend ?
Thanks

Solid brokers are these
IC Markets
Pepperstone
Tickmill
ThinkMarkets
Trader's Way

I dont list tradeview eventhough these guys have great reviews I found them to be a lot confused.
TradersWay regulation is weak but I have great experience with them.
IcMa + Pepper - Have been using them for years. Have good regulation.

Good information @togr! After that there is nothing more to say, I was going to recommend three of those on your list.
vontogr (togr)
Feb 21 2017 at 20:28
4862 posts
gels4 posted:
togr posted:
PhilTrader posted:
Guys, I have a question upon the brokers that are working with Autotrade.
MY main Account currently is with JFD but thats no broker I can use for Autotrade.

So I just had a 'bad' experience as from my first check FXCM was listed as a 'good broker' so I opened an account with them.
After 1 week my papers were done and my Account was up and funded - but I still had no MT4 login data so I called their support and only was informed that my Account was for 'TradingStation' and that I have to open a NEW account for MT4 - which will take another 2 days - and then transfer my funds there.
For me thats not really showing good work - I opened my JFD account and got all possibilities for 'working' - never had to choose what platform I will use.
And I now also know that FXCM needed 300mio last year no to go bancrupt - and that the lost their US license some month ago.

SO - I closed my account and withdraw my money - BUT I dont really get good info an all brokers listed for AutoTrade.
I dont like Marketmakers and I like one that is reliable like JFD - so which one can you recommend ?
Thanks

Solid brokers are these
IC Markets
Pepperstone
Tickmill
ThinkMarkets
Trader's Way

I dont list tradeview eventhough these guys have great reviews I found them to be a lot confused.
TradersWay regulation is weak but I have great experience with them.
IcMa + Pepper - Have been using them for years. Have good regulation.

Good information @togr! After that there is nothing more to say, I was going to recommend three of those on your list.

You are welcome
gepari71
Feb 22 2017 at 07:20
12 posts
It would be advisable to choose a broker who is regularly FCA (all amounts are insured in case of bankruptcy up to 50,000 GBP ). You can remember FXOpen and AxiTrader ( at a first observation list brokers )
edinson
Feb 23 2017 at 09:27
10 posts
PhilTrader posted:
Ok how about BlackBull then? I find only good ratings for them online.

I closed my FXCM account - not really reliable if already the account opening isnt handled very flexible.

FXCM is not at its best right now.
MQL BLUE (coders)
Feb 23 2017 at 16:01
31 posts

autotrade is good solution
Forex Programming since 10 years
vontogr (togr)
Feb 23 2017 at 18:10
4862 posts
gepari71 posted:
It would be advisable to choose a broker who is regularly FCA (all amounts are insured in case of bankruptcy up to 50,000 GBP ). You can remember FXOpen and AxiTrader ( at a first observation list brokers )

FxOpen no way -search phrase fxopen and scam
geoff_awf
Feb 25 2017 at 18:08
4 posts
Hi, I was wondering if someone knew why a lot of auto trade signals show frequent withdrawals and deposits in their history? Is this to stabilise their equity and appear less volatile? Thanks.
andyjen
Feb 27 2017 at 07:25
17 posts
Geoff... exactly that I think
vontogr (togr)
Feb 27 2017 at 07:34
4862 posts
geoff_awf posted:
Hi, I was wondering if someone knew why a lot of auto trade signals show frequent withdrawals and deposits in their history? Is this to stabilise their equity and appear less volatile? Thanks.

Sounds a bit like cheating
PhilTrader (PhilTrader)
Feb 27 2017 at 08:17
13 posts
Maybe someone can explain me how the settings reallywork as I dont get it.

You can try them out in the Simulator - I use ATLASTicklmill als Provider.
Giving his Account is 16.000$ and my Account is only 2000$ - I would say that from the accountsize I should set the multiplier to just 0.16 to have the 8:1 value.

But if I do this - the simulator shows that my 'Minimal Balance' should better be at 16.000$ - while my Hypothetical Drawdown is at 5.5%.

As far as I understand 'Minimal Balance' should reflect my own Account Size - so I try to meet this - now I have to set the multiplier to 2.5 to meet a Minimal Balance of 2000$ - BUT on the other side the Hypothetical Drawdown raises to 44%.

So if anyone could explain me what this multiplier is doing ....
Also my Account has 1:200 spread while ATLAS is at 1.500

Usually I thought that Autotrade copies all trades 1:1 - then math is easy - because if I copy 1:1 I also take the same risk by having the same S/L level. Thus my math is simple - if ATLAS buys 1 Lot because he has 16K account - then I just buy 1/8 of this - and my lotsize then is only 0.16 of his.
Why do they confuse me with a 'Hypothetical Drawdown' and a 'Minimal Balance' when that is not nedded at all... Or am I just too stupid ?
geoff_awf
Feb 28 2017 at 07:55
4 posts
Thanks for the replies. I would also like a clarification of how the settings work. Seems a bit counter-intuitive: the more I risk, the lower the required minimum balance? Sounds like a sneaky way to encourage people to risk more....
rob559
Mar 01 2017 at 07:17
1916 posts
PhilTrader posted:
Maybe someone can explain me how the settings reallywork as I dont get it.

You can try them out in the Simulator - I use ATLASTicklmill als Provider.
Giving his Account is 16.000$ and my Account is only 2000$ - I would say that from the accountsize I should set the multiplier to just 0.16 to have the 8:1 value.

But if I do this - the simulator shows that my 'Minimal Balance' should better be at 16.000$ - while my Hypothetical Drawdown is at 5.5%.

As far as I understand 'Minimal Balance' should reflect my own Account Size - so I try to meet this - now I have to set the multiplier to 2.5 to meet a Minimal Balance of 2000$ - BUT on the other side the Hypothetical Drawdown raises to 44%.

So if anyone could explain me what this multiplier is doing ....
Also my Account has 1:200 spread while ATLAS is at 1.500

Usually I thought that Autotrade copies all trades 1:1 - then math is easy - because if I copy 1:1 I also take the same risk by having the same S/L level. Thus my math is simple - if ATLAS buys 1 Lot because he has 16K account - then I just buy 1/8 of this - and my lotsize then is only 0.16 of his.
Why do they confuse me with a 'Hypothetical Drawdown' and a 'Minimal Balance' when that is not nedded at all... Or am I just too stupid ?

pretty confusing to say the least
Viktor Natalych
Fatman
Mar 01 2017 at 07:45
4 posts
Hi, guys!

I want to be an autotrade provider!

It seems to be fulfilled all the requirements, but for some reason my system did not add. What am I doing wrong?

https://www.myfxbook.com/members/Fatman/lucky-luciano/1768214

Thanks for answers!
Aimak Rokalno (Aimak)
Mar 01 2017 at 12:36
149 posts
What happened to the autotrade system with rank 1? Was it disqualified?

I do not remember who it was. I would prefer getting a warning notification in advance of removing a system. Alternatively, it would be very useful knowing what systems are been watched for not complying with autotrade requirements.
exquisite entries with calculated exits
Viktor (AirFXSignal)
Mar 01 2017 at 12:47
1 posts

Hello Victor;) You have a very cool result. I see that in Autotrade, not so many of such results. Keep it up, and if you add, I will sign the first! Have fun😉
Please login to comment .