MB Trading : 2 Trades: 19.2 pips
GO Markets : 1 Trades: 10.0 pips
InterbankFx : 1 Trades: 10.1 pips
InterbankFx AU : 1 Trades: 10.1 pips
FxPro : 1 Trades: 10.0 pips
Alpari UK (Micro-1): 1 Trades: 8.9 pips
Alpari UK (Classic): 1 Trades: 8.9 pips
FXDD : 1 Trades: 6.7 pips
AxiTrader : 1 Trades: 10.2 pips
FxSol : 1 Trades: 9.0 pips
TRADE DETAILS: Open Close Profit
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MB Trading S1 Buy: 17:23:44 1.41690 -> 18:23:52 1.41738 4.8 pips
S2 Buy: 17:44:15 1.41590 -> 18:16:01 1.41734 14.4 pips
GO Markets S1 Buy: 23:23:31 1.41631 -> 0:09:39 1.41731 10.0 pips
InterbankFx S1 Buy: 21:43:50 1.41625 -> 22:10:39 1.41726 10.1 pips
InterbankFx AU S1 Buy: 21:43:50 1.41625 -> 22:10:39 1.41726 10.1 pips
FxPro S1 Buy: 0:31:06 1.41631 -> 1:10:44 1.41731 10.0 pips
Alpari UK (Micro-1) S1 Buy: 23:23:33 1.41651 -> 0:23:45 1.41740 8.9 pips
Alpari UK (Classic) S1 Buy: 23:23:34 1.41651 -> 0:23:45 1.41740 8.9 pips
FXDD S1 Buy: 0:23:33 1.41666 -> 1:23:43 1.41733 6.7 pips
AxiTrader S1 Buy: 0:23:31 1.41632 -> 1:14:57 1.41734 10.2 pips
FxSol S1 Buy: 17:23:33 1.41630 -> 18:16:00 1.41720 9.0 pips
ThinkForex
S1 Buy: 21:23 1.41633 -> 22:15 1.41732 = 9.9 Pips
Fx Primus (Live)
S1 Buy: 0:31:00 1.4163 -> 1:07:00 1.4172 = 9 pips
S2 Buy: 0:44:00 1.4160 -> 1:35:00 1.4175 = 15 pips
Richard,
At a glance, it looks like FxPro is a better performing broker for Megadroid. Do you agree? It will be nice to see a summary of all pips made with each broker. Do you think it makes a difference if the broker is an STP or ECN?
Hi Ling,
In general the Instant Execution MT4 brokers perform better than the Market Execution brokers for Megadroid. I think this is because the Market Execution brokers (also advertised as “STP” or “ECN”) don’t have any slippage control, unlike the Instant Execution brokers. (see MT4 Brokers – Instant Execution Vs Market Execution)
Over the years several brokers have gradually changed from Instant Execution to Market Execution (e.g. InterbankFx, Go Markets), and each time they did the Megadroid trade performance deteriorated significantly. I’ve never seen a case of a broker going from Market Execution to Instant Execution. I suspect the Market Execution model is more profitable for the brokers because the real spread (i.e. displayed spread plus slippage) is greater.
A good example is Go Markets. Back in 2009 they were an Instant Execution MT4 broker. Their spread was about 2 to 2.5 pips on EUR/USD. They were one of the best performing Megadroid brokers back then. Once they changed to Market Execution the performance deteriorated. Looking at my Go Markets terminal right now, the spread on EUR/USD is displayed as 1.2 pips. You’d think that’s a great spread, however when I open and close Megadroid trades I’m often slipped 2-4 pips on each side, so the effective spread is really 4-6 pips. It’s a little trick many of the MT4 Market Execution brokers are involved in i.e. they’ll advertise great spreads, but they know the real spread you’ll get on your order execution is much greater than what’s displayed on the MT4 terminal.
fxpro -> 10.5p
alpari uk -> 10.6p
FXDD => 6.5 pips
Gallant FX => 6.5 pips
SunbirdFX => 10.4 pips
Alpari UK (Classic): 9.2 pips (0.8 pips slippage)
FxPro: 7.3 pips (2.7 pips slippage).
activtrades : 5.9
fxpro : 9.1 pips
alpari : 7.2 pips
finfx : no trades