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MadMarketScientist

Metatrader Vs Currenex

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Was having a discussion with some people from Alpari, one of the forex brokers out there who is growing their U.S. presence. They were talking about the two different ways you can open/fund your account - one would trade through the Metatrader platform, more of the retail variety, and the other would use a pro platform Currenex.

 

It was interesting, because they actually felt up to a certain size, I think about 10 - 15 full size, which is actually quite sizable you'd be better off on the retail platform with the fixed spreads and executions since they rarely see requotes, etc... as long as it stays that size or lower. Perhaps if it extends beyond that the Currenex which goes more directly to a bank feed than a trade desk would be better.

 

Curious if there are any of you who have tried both varieties and have some feedback. I have some experience talking to some money managers who have used Currenex and there are some pros/cons but wondering if anybody else wants to weigh in on that.

 

Thanks.

 

MMS

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I had the same dilemma few months ago. I opened a regular account with sunbird fx (mt4) and things were great-no requotes and fast executions. I read somewhere that currenex was much better and recommended, so I opened an account there. The result was that I saw no difference in the performance aspect, but currenex cost much more. In the bottom line, I could not see the advantage of trading via currenex.

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There is not much of a difference between mt4 and currenex. Mt4 is a great platform and currenex is just too expensive ! I trade with mt4 but I try to make sure that it works with market execution and not instant execution.

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There is no difference between MT4 and Currenex on the clients point of view. Mt4 or Currenex both will do accordingly what the software are told to do. Currenex is expensive but it has less dealer intervention and manipulation feature but mt4 have more features to manipulate the prices as done by worlds biggest Market Makers as well.

 

They all prefer Mt4 as it can be customized more easily then any other software do and it can manipulate prices they way they want to.

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There is not much of a difference between mt4 and currenex. Mt4 is a great platform and currenex is just too expensive ! I trade with mt4 but I try to make sure that it works with market execution and not instant execution.

 

There is a big difference between Currenex and MT4. Limit orders placed on MT4 are always kept on Metaquote server as opposed to being directed to the liquidity pools. When the market reaches your limit price, your order is triggered as a market order which could be a gap. I have an account with Ajax Financial and though they are one of the cleanest out there, they couldn't overcome this challenge, which is caused by MetaQuote, the end result, I had to switch my account to their Currenex.

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Meta Trader of course. But what should i choose mt 5 ot mt 4 it's another question. I heard MT 5 is better and more adaptive for traders. Exactly Amarkets sent this information to my e-mail

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