MDP worked ok up until FOMC yesterday. We trade on Axi Pro as a group. Anyone with any knowledge knows they are a good broker and trades with them anyway. I would like to expand our group for possibly better rebates. Its my group and my choice, I share successful brokers and ea's with members unlike many other traders who think its a big conspiracy and secret. As I said my group, my choice 😉
I doubt its a good choice for your customers in the log run. The more overcrowded the broker gets with people all trading the same EAs, the worse the performance gets, as the mdp history has shown already.. Higher rebates end always in worse trading conditions, do the math ! Brokers are NOT charity companies.
I've been using MDP from very early on, I've made plenty of money with it, as you can see on some of my public accounts. I witnessed MDP destroy one broker after another. Staff at the brokers admit that MDP is a huge burden which has completely changed their ability to execute efficiently during spikes. I'm sick of having this argument with people. Good luck.
After this past week MDP working anywhere is open to debate. Jon is getting better rebates and deals by attracting new accounts and so if MDP stop working then so be it, it is the trade off I guess. If he kept it all secret then he would have put up with higher commissions or no rebates and how would that benefit any of us? I suspect that those complaining are here to get the better deal anyways otherwise why bother reading any of this. Keep up the good job Jon. Best regards, BNB.
It is just my approach to forex trading. My belief is that more can be accomplished as a group than as an individual. I have received a lot of help and advice in the past and want to give something back, There are 100's of forums and private groups focussed on forex trading. To think that this forum is the only one where the members are aware of AxiTraders good trading conditions is farcical. Axi told me themselves that they have hundreds of IB's on their books. They also choose who they will give IB agreements to, it took a lot of work and convincing that our group was worthy of being given a private rebate deal. This is normally only given to commercial/retail IB's so was quite an accomplishment. It was also subject to a minimum volume being achieved within a few months. This volume has not been achieved as yet which is the reason for my efforts in trying to expand the group to achieve the required volume. I do not want to lose an agreement that benefits current group members simply due to failing to meet the required volume.
As far as brokers being 'destroyed' by MDP I can only say that if they haven't got the infrastructure in place to handle the small volume (relatively speaking) generated by retail forex traders they shouldn't be in the business. For major reputable brokers, retail forex is a small portion of the total volume they handle, the majority coming from Corporate and Institutional trading. As per the previous post, MDP is pretty much outdated now with the arrival of lower risk tick scalping ea's like NMI SS and NO1. Will Primus or FXPIG be 'destroyed' by the 'overuse' of these new ea's? I think not. A reputable broker will put in place new infrastructure to handle this type of trading or provide additional liquidity to meet its demands. We have seen this in the recent past with reputable brokers providing new servers close to the LP's to cater to customers requirements of fast execution and access to deeper liquidity. It is only the 'backyard' brokers that use the cop out excuse of not being able to handle the volume or frequency of trades by these ea's. Brokers that are happy to take your money in the form of commissions or spreads but fail to provide the trading enviroment required by their customers. We only deal with reputable brokers that are fully aware of the style of trading used by the majority of group members. The comment I most frequently hear from brokers I have dealt with regarding the volume I hope to eventually generate through the group is 'Bring it on'. They appreciate the additional business and the group benefits from a volume based rebate/discount from the broker. If the agreement did not benefit everyone involved, I would have no part in it.
aeronthomas posted: Hi Jon, Are you still using NO impulsive scalper on this account, how can I filter it's trades, what magic numbers are you using. It's running on Axi Trader right? thanks in advance.
No, the days of tick scalpers are over I believe.
I am running the free version of night scalper on Axi with selected pairs only.