I've never heard about it until now, so I went Googling and ... Yikes! It is Pricey!
Anyway, after seeing what it was all about, I don't think you will find anyone here who has used it - firstly because MetaTrader is geared towards coding one's own strategies (instead of building it graphically) and second because MetaTrader is free (instead of the extravagant price tag on that one).
What I am trying to say is that the type of people you will find here have a totally different profile!
firstly because MetaTrader is geared towards coding one's own strategies (instead of building it graphically) and second because MetaTrader is free (instead of the extravagant price tag on that one).
(A little off-topic, but... There's a plausible line of argument which says that MT4 wouldn't exist today if it weren't for the release of various famous commercial algo systems in the period 2009-2011. What's definitely the case is that only a small percentage of MT4 accounts today are using EAs or indicators written personally by the account holder.
And MT4 isn't "free". It's free for demo accounts only, because the standard model in the industry has become that demo accounts are subsidised by real-money accounts. If you have a real-money account then you are paying money to the broker, in one form or another, and that money funds a number of things including marketing costs and the fee to MetaQuotes for the MT4 Servers - payable on both demo and live servers.)
Irrespective of what software you may use, you ALWAYS pay spread and/or commission to a broker! I have had brokers where one has to "buy" the software separately and their spread/commission costs are the same as those brokers using MT4.
Taking into account that the minimum cost of NeuroShell is $1495, with no Intra-day charts, for which require you to fork out at least $2495 to have those, I continue to stand by my statement that it is "free", even if "relatively" speaking, there
may be some brokers charging slightly extra to compensate for the
Irrespective of what software you may use, you ALWAYS pay spread and/or commission to a broker!
Well, of course. But that doesn't mean that MT4 is free. If MetaQuotes reduced their charges to brokers, then the brokers would, or could afford to, reduce their spreads/commissions to you. The MT4 Server + Client Terminal infrastructure isn't free, and you're paying for it, albeit indirectly.
It's not a criticism. MT4 is a great piece of software and well worth the small indirect cost. It's just not free. I'm always puzzled by the extreme reluctance, bordering on antagonism, of people on this forum to acknowledge that MT4 isn't free. It does make me wonder how many of the regulars on this forum actually trade real money rather than demo accounts.
I trade with REAL money and do well, thank you! But did you even read my post? I said that the differences in costs (spread/commission) between MT4 brokers and others is negligible, making MT4 for us users practically almost free (if you want to get semantically about it).
Nothing justifies paying the hefty sums of money that one has to fork out for those "glamorous" pieces of software, that "promise" the world and then don't deliver (as the OP has began to feel). Even if MT4 brokers do increase the costs (to us users) to cover their investments with MetaQuotes, it is diluted over many traders and weighs very little on us REAL traders!
I started off, trading with one of those "hefty" pieces of software, and now I am with MetaTrader; so I know very well what I am talking about! I have done the maths! In fact when I started off with one of "those" pieces of software, besides the cost of the software, I actually payed more for the commission and spread with those brokers than with the ones I use now with MT.
I said that the differences in costs (spread/commission) between MT4 brokers and others is negligible, making MT4 for us users practically almost free (if you want to get semantically about it).
Fees have subsequently come down, and this was an MT4 cost but not a MetaQuotes cost, but a very large and well-known brokerage used to have a difference of 0.1 pips on the spread between their demo and live accounts, being the charge for their MT4 bridge. That's not a huge cost, but I wouldn't personally call it negligible.
I wasn't questioning whether you personally trade live or demo. I didn't refer to you personally; I queried "how many of the forum regulars". The vociferousness of your reaction is exactly what I was talking about in my previous post.
To add comments, please log in or register