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alexjordan285 2015.08.04 09:31
 

Can anybody let me know who is the best trader to choose?

 

I have been introduced to Alpari by one of my friend,just wanted to know is there anybody who is doing trading under them?If yes then please share your experience..

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WHRoeder 2015.08.04 13:26 #
 
Broker specific discussions are forbidden here.
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Porky2015 2015.08.04 14:13 #
 
WHRoeder:
Broker specific discussions are forbidden here.

Hi Alex,

Obviously I can't go against WHRoeders comments, but would like to add that I think its worth pointing out that the broker you choose really depends on where you are in the world, what type of trading you want to do, what type of account you are planning on having, which currency pairs/indices/commodities you would like to trade, and so on.

Im not sure I am allow to post links to other websites on here, but there is a very good free online "forex school" website that has a section on broker selection, the differences between dealing desk and NDD services, etc.

Im sure Google searches would also yield good results on the "things to look out for" when selecting a broker.  When I went looking for a broker, for example, I looked for one that offered "spread betting" type accounts as they reduce the tax I pay as a UK citizen, I looked for a broker that was regulated by the UKs financial regulatory body (the FCA), and I examined their spreads against others that were offering similar services and checked that their rollovers and transaction fees (if any) were reasonable.

Kind regards and good luck with your search!

Paul 

<edit> Also, just for the record - its a good idea to put a meaningful subject title rather than just "hi", or "help" etc.  This is because other people may have the same question in future as you and it makes the forums more clear and searchable if you have a nice, descriptive title so everyone can see what the thread is about!   Good luck! 

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jjc 2015.08.04 15:27 #
 
Porky2015:

<edit> Also, just for the record [...]

Your response is probably over-polite; this is the latest in a series of posts whose true purpose seems to be to advertise and link to Alpari. (The older threads now seem to have been deleted.) The only surprise is that I'd expect things such as this to be using affiliate links rather than direct links.
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Porky2015 2015.08.04 15:33 #
 
jjc:
Your response is probably over-polite; this is the latest in a series of posts whose true purpose seems to be to advertise and link to Alpari. (The older threads now seem to have been deleted.) The only surprise is that I'd expect things such as this to be using affiliate links rather than direct links.
Thanks for the heads-up jjc, I probably should have spotted that!  Do the moderators not have the ability to remove nonsense threads, edit content or subject lines, etc, as is possible for moderators on other message boards?
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jjc 2015.08.04 15:43 #
 
Porky2015:
Thanks for the heads-up jjc, I probably should have spotted that!  Do the moderators not have the ability to remove nonsense threads, edit content or subject lines, etc, as is possible for moderators on other message boards?
Yes, the moderators do have that ability, but the moderation of this forum goes through cycles ranging from lacklustre to non-existent. I think the current moderator(s) are MetaQuotes staff; they've run out of community members who are prepared to do the job and are trusted by MetaQuotes. Some of the former moderators are now active at www.mql5.com/en/forum instead.
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Porky2015 2015.08.04 16:27 #
 
jjc:
Yes, the moderators do have that ability, but the moderation of this forum goes through cycles ranging from lacklustre to non-existent. I think the current moderator(s) are MetaQuotes staff; they've run out of community members who are prepared to do the job and are trusted by MetaQuotes. Some of the former moderators are now active at www.mql5.com/en/forum instead.
I see!  Forgive my ignorance, but is MT4/MQL4 effectively being rendered "obsolete" by the presence of MT5 (and MQL5?), such that one day MT4 will be outmoded, or are the completely different platforms/technologies that do not do the same thing?  I apologise for hi-jacking the "subject" of this thread somewhat!
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jjc 2015.08.04 17:15 #
 
Porky2015:
I see!  Forgive my ignorance, but is MT4/MQL4 effectively being rendered "obsolete" by the presence of MT5 (and MQL5?), such that one day MT4 will be outmoded, or are the completely different platforms/technologies that do not do the same thing?  I apologise for hi-jacking the "subject" of this thread somewhat!

Answers to your question will be in large part personal and subjective.

My own perception is that MetaQuotes built MT5 in order to expand out of forex into other asset classes. However, while they were working on MT5, entities such as the MT4 bridge providers built ways of trading other assets (mainly CFDs) into MT4. It's now the case that most MT4 brokers couldn't survive in their target markets without offering metals and some index CFDs in addition to fx, but they don't need MT5 in order to do this. By the time it was launched, MT5 had become the classic "solution which was looking for a problem".

Two further additions of note: MT5 doesn't have binary compatibility with MT4 EAs and indicators (though it does largely now have source-code compatibility), and MT5 is a non-hedging platform because MetaQuotes perceived this as a necessity for direct integration with futures and equities exchanges. The latter is poison in the retail (fx) market. The former means that MT5 has a much diminished head-start over the many other platforms vying to take MT4's place.

From a broker's point of view, MT5 doesn't address any compelling issues with MT4 and, on the whole, brokers are sufficiently wary of MetaQuotes that, if they're going to invest in a secondary platform to the effectively-compulsory MT4, they'd rather spread their risk over multiple providers than double up on their exposure to MetaQuotes.  

And then there are lots of other factors: the rise of signal services, which make the choice of trading platform less significant; missing functionality in MT5 such as importing your own history data; etc.

It's interesting that, in recent months, some new features have been put first into MT4 and then fitted into MT5 whereas, for years, MetaQuotes made a point of doing things the other way round... 

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Porky2015 2015.08.05 08:20 #
 
jjc:

Answers to your question will be in large part personal and subjective.

My own perception is that MetaQuotes built MT5 in order to expand out of forex into other asset classes. However, while they were working on MT5, entities such as the MT4 bridge providers built ways of trading other assets (mainly CFDs) into MT4. It's now the case that most MT4 brokers couldn't survive in their target markets without offering metals and some index CFDs in addition to fx, but they don't need MT5 in order to do this. By the time it was launched, MT5 had become the classic "solution which was looking for a problem".

Two further additions of note: MT5 doesn't have binary compatibility with MT4 EAs and indicators (though it does largely now have source-code compatibility), and MT5 is a non-hedging platform because MetaQuotes perceived this as a necessity for direct integration with futures and equities exchanges. The latter is poison in the retail (fx) market. The former means that MT5 has a much diminished head-start over the many other platforms vying to take MT4's place.

From a broker's point of view, MT5 doesn't address any compelling issues with MT4 and, on the whole, brokers are sufficiently wary of MetaQuotes that, if they're going to invest in a secondary platform to the effectively-compulsory MT4, they'd rather spread their risk over multiple providers than double up on their exposure to MetaQuotes.  

And then there are lots of other factors: the rise of signal services, which make the choice of trading platform less significant; missing functionality in MT5 such as importing your own history data; etc.

It's interesting that, in recent months, some new features have been put first into MT4 and then fitted into MT5 whereas, for years, MetaQuotes made a point of doing things the other way round... 

Thank you for the comprehensive reply jjc.  I hadnt realised that MQ were releasing some features to MT4 before MT5, I guess that says a lot!  For the time being MT4 seems to do everything I could ever need it to, so I think Ill be sticking with it! :)
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