I am sorry I do not speak Italian. I am interested in trading with your trading algorithm. I received this notice through MyFXbook, but I did not see this auto trading system in their vetted list. 1. Does it go by another name? 2. Can I trade with it in my USA MT4 account? 3. What are your fees for using it?
ATS results are difficult to see clearly as the broker FXCM takes the full commission of 4$/lot traded as a withdrawal. So if you use the custom analysis in Myfxbook for the last 3 months you will see that the withdrawal is > 2 times the profit. I.e your account balance is dropping fast.
Unless you have a deposit of $250,000 with FXCM you cannot get a commission cost of < $8 / lot with this or other brokers. Therefore this System cannot make money for most traders. ATS has big money with this broker over many accounts and is getting the very lowest commission rate but he is loosing money for the past 3 months!
Also look at the balance from sept 2016 to July 2017 and estimatie your result with double or even $5 commission costs! He should be using a different EA method to upload his trading results to Myfxbook but that would show a much less attractive result.
Hi, I am a retail trader. I purchased the Onnovative EA last year, had it setup by a trading expert colleague on a good VPS running small accounts on ten different brokers. All lost money. Trading costs exceeded tiny profits on most trades.
Thank you all for the good advice. I am a US trader and cannot use FXCM. I trade with Forex.com, which has no commissions, but from what I am reading above, I would be eaten alive on the spreads, which average 2 - 3 pips. Closer spreads are only given on their institutional accounts. I have also traded with OANDA, which has slightly lower spreads. But neither broker trades in MyFXbook. I am also somewhat limited because I am trading in a Roth IRA, which requires a custodian for my accounts.
Innovative EA does not sound like a good fit for retail traders like me.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.