I’ve just added a new “IC Markets” MT4 account.
This is an ECN type account i.e. low spreads with commissions.
I’ve listed all of the MT4 accounts I’m currently using HERE.
I’ve just added a new “IC Markets” MT4 account.
This is an ECN type account i.e. low spreads with commissions.
I’ve listed all of the MT4 accounts I’m currently using HERE.
So it looks like MB Trading are no more.
I received an email from MB Trading today Read More…
I received 2 emails today…
“IBFX, Inc. (IBFX) has made a business decision to no longer to service individual MT4 online platform accounts and has recently agreed to transfer your current IBFX “MT4” account to Forex Capital Markets, LLC (FXCM), a Registered Foreign Exchange Dealer (RFED) with the National Futures Association (NFA ID 0308179). As a result, IBFX and FXCM have made arrangements to transfer your account to FXCM on September 19, 2014.”
and..
“IBFX Australia Pty Ltd. (IBFX) recently agreed to transfer your current IBFX “MT4” account to FXCM Australia Ltd. (FXCM). The transfer is scheduled to take place beginning the weekend of September 19, 2014. FXCM holds an Australian Financial Service (“AFS”) license issued by the Australian Securities and Investments Commission (ASFL No. 309763).”
So my 2 IBFX accounts will become FXCM accounts as of 19th of September.
FXCM aren’t exactly my favourite broker.
I’ve had bad experiences with them in the past, mostly bad execution (terrible fills, stops and take profit’s not being executed, account balances changing etc), and numerous admin issues. They’ve also been fined numerous times by US and UK regulators.
So I’ll definitely be watching these 2 accounts closely.
FXCM have also taken over FXDD, but only the US division. My FXDD account is FXDD Malta, so it’s remained FXDD.
Hi everyone,
I’ll be making some trading account changes that will take effect on the 1st of June. I thought I’d write this post to explain why I’ve made these changes.
Change 1: Closing FxSol account and opening an OANDA account
My FxSol account has been by far my worst performing Megadroid account for a while now. IMO there’s 2 main reasons why.
Firstly the spreads are very high – usually 3 pips on EUR/USD.
The second reason is terrible execution. Even if I place a manual trade on that account, I always have to wait 12 to 15 seconds for the order to be executed, and even after that time there’s a high chance of a requote. This large delay started happening after I made considerable profit on that account using another trading strategy. I suspect I’ve been put in a “delay group” because of that. Prior to that execution times were typically 2 to 4 seconds. I was hoping that delay would disappear, but after 12 months and several conversations with their support, it’s clear that it won’t change. FxSol were also acquired by another broker about a year ago which I don’t know much about.
I’ve had an OANDA account for a while, but I’ve never used it for Megadroid until now. It’s a much larger broker, and the spreads on EUR/USD are much better. I’ve mostly used their FxTrade platform in the past, so I’m hoping their MT4 platform is OK. I’m pretty confident it’ll be considerably better than my FxSol account for trading Megadroid, so the decision to move accounts, was an easy one. OANDA are well regulated, and their financial status is available online via the CFTC website
Change 2: FXDD to FXCM transition following FXCM’s acquisition of FXDD
It seems that FXCM have taken over FXDD. I received an email saying my FXDD account would transition to FXCM at some point. To be honest, my past experiences with FXCM have been poor, but I’ve decided to just see what happens this time. It’s been around 2 years since I’ve had trading accounts with FXCM.
Megadroid version 1.41 is available for download from the client area of the Megadroid website.
Seems that this was released a few days ago, although it disappeared from the website yesterday, but has now reappeared. The date on the Megadroid.ex4 file I’m using is 15th June.
I’ve updated my trading platforms with the new version.
Well, it seems the NFA have asked FXDD to place funds in an account to cover any potential penalty they may incur from a case against them earlier in the year:
“National Futures Association (NFA) has ordered FX Direct Dealer, LLC (FXDD) to either post a bond or place funds in an escrow account to ensure that the firm can meet its obligations under any restitution order that may result from a related NFA disciplinary action. The customer restitution is estimated to be $3.3 million….” Read More…
Hi everyone,
Just letting you know that Megadroid Version 1.40 is now available for download
You can get it HERE
I’ll be updating all my trading platforms with this new version before trading starts next week.
Hi everyone,
Just letting you know I’ve decided to swap my FxPro account for an ActivTrades account. I’ve been watching the performance of this account from the sidelines, and I’ve decided to make the change.
My ActivTrades account is connected to server “Activtrades-Server”. This is an Instant Execution type MT4 account.
It seems that FXDD have been charged by the NFA:
You can find the NFA Case details HERE.
Here’s some screen grabs of the charges. Read More…
Hi everyone,
The Megadroid team have just released another update.
The new version is 1.39
You’ll need to logon to the members areas to get the download this time:
http://forex-megadroid.com/members/index.php
I’m not sure of the exact changes at this stage. I assume they’re minor. There doesn’t seem to be any significant change in the configuration options.
I’ve installed this new version on all my trading platforms.
I’ve also updated my MT4 terminals to build 432.