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  • #141
  • Jul 14, 2015 1:31am Jul 14, 2015 1:31am
Quoting BigFisherman
{quote} Know this is replying to an old post of yours but just for clarification purpose to others interested in CAlgo/CTrader. Personally I've stopped using any MT4 broker for over a year now. After trying quite a handful of platforms around for the last 3 yrs, I'm with CTrader/CAlgo now. 1. The commission though not the lowest, wasn't that expensive either. I'm with IC Markets CTrader account. Commission (per side) was $3 USD per 100,000 USD traded. Instruments were also more than enough for my needs, 60 forex pairs, 4 metals & 13 indices CFDs....
I agree with you on the above... I also stopped using the MT4, I mean the MT4 only because so popular because it was one of the first retail platforms available... i personally believe anyone during the 90's would have become so famous. Anyway I am very happy with my cTrader account...

Worth trying & fully recommend by me
He Who Lives On Hope Will Die Stavring
  • #142
  • Jul 14, 2015 2:25am Jul 14, 2015 2:25am
Quoting BigFisherman
{quote} Know this is replying to an old post of yours but just for clarification purpose to others interested in CAlgo/CTrader. Personally I've stopped using any MT4 broker for over a year now. After trying quite a handful of platforms around for the last 3 yrs, I'm with CTrader/CAlgo now. 1. The commission though not the lowest, wasn't that expensive either. I'm with IC Markets CTrader account. Commission (per side) was $3 USD per 100,000 USD traded. Instruments were also more than enough for my needs, 60 forex pairs, 4 metals & 13 indices CFDs....
First of all, really flattered and shocked that people follow my posts so closely here and would even go back so far in the past to dig my old posts up.

Second, regarding cTrader/cAlgo, I will first say it IS a major improvement over MT4 in that it is a major step in aligning broker/dealer's interest with that of their clients' by removing the possibility of any broker/dealer's interference in client orders such as through a broker's virtual plug-in in MT4 according to the developer of the cTrader suite of products. HOWEVER I DO want to point out and correct the following:

1) The commission for trades executed on cTrader IS more expensive than for any other trading platforms. It's $3 per $100K USD traded NOT per $100K trading volume. And even just the $3 is already the highest commission that is charged in forex trading industry. The industry average is from $2 - $2.75 over a variety of trading platforms. And $3 per $100K USD traded is even higher because if you happen to be trading a currency that is more expensive than USD say GBP or the euro (not for long though), you will be paying more than $3 because the commission is calculated on the trading amount in the trading currency first and then converted to USD so the end you are paying $3 multiplied by the currency exchange rate between that trading currency e.g. GBP and USD. If you are not trading through an IB, that commission takes quite a big chunk out of your profit and really adds to your losses especially if you are scalping which many of the traders who use cTrader/cAlgo do.

2) When I mentioned cAlgo uses C++ I meant to say C# and cAlgo DOES leave out many useful and powerful capabilities and features in C# in order to make it run faster. Many of the inheritable classes in C# is not available in cAlgo. Basically it's a very basic and watered-down version of C#. Now I will say it is adequate for programming some basic trading strategies but if you have ever programmed in a real C# environment, you will notice the difference.
Make your losses in demo. Earn your profits live.
  • #143
  • Jul 14, 2015 5:27am Jul 14, 2015 5:27am
Quoting denisio
{quote} I agree with you on the above... I also stopped using the MT4, I mean the MT4 only because so popular because it was one of the first retail platforms available... i personally believe anyone during the 90's would have become so famous. Anyway I am very happy with my cTrader account... Worth trying & fully recommend by me
who is your ctrader broker?
  • #144
  • Jul 14, 2015 5:59am Jul 14, 2015 5:59am
FxPro, Roboforex, ICM, Trader's way, ThinkForex, TMS Brokers, Invast Financial Services, FIBOGroup and others...
  • #145
  • Jul 14, 2015 6:49am Jul 14, 2015 6:49am
Quoting entheos
{quote} who is your ctrader broker?
I'm trading with fxpro and eq5. Why do you ask ?
He Who Lives On Hope Will Die Stavring
  • #146
  • Jul 14, 2015 6:59am Jul 14, 2015 6:59am
Quoting denisio
{quote} I'm trading with fxpro and eq5. Why do you ask ?
just curios
thankyou
  • #147
  • Jul 14, 2015 11:22am Jul 14, 2015 11:22am
Quoting Forexia
{quote}It's $3 per $100K USD traded NOT per $100K trading volume..
Chill dude, isn't that what I've said in the first place? Based on my limited experience trading live with 4 mt4 brokers & interactive brokers, USD 3 per 100k USD traded though not the cheapest in town, but it's definitely on the cheaper end.

Not intended as a debate in the first place anyway.
Cheers.
  • #148
  • Edited 12:32pm Jul 14, 2015 12:09pm | Edited 12:32pm
Quoting BigFisherman
{quote} Chill dude, isn't that what I've said in the first place? Based on my limited experience trading live with 4 mt4 brokers & interactive brokers, USD 3 per 100k USD traded though not the cheapest in town, but it's definitely on the cheaper end. Not intended as a debate in the first place anyway. Cheers.
It's OK but I just want to point out the difference between the commission charged in MT4/5, even for the same amount is still lower than that of the cTrader. Many of the traders might not realize this when comparing. I will illustrate with the $3 commission.

In MT4/5 and in many other trading platforms, because it's $3 per standard lot and not tied into any particular currencies, you only pay $3 per standard lot and that's it regardless what currency you trade. As long as you trade up to 1 standard lot, you pay $3.

But in cTrader, it will depend. If you trade a currency that's more expensive than USD say gbp, even if it's $3 per $100K USD traded, you will be actually paying MORE than $3 per standard lot like $3.75 even $4 in commission per $100K USD depending on the exchange rate because that $3 is first calculated in gbp and then converted into USD. So the commission in cTrader could be higher even for the same advertised amount.

But in fairness to cTrader, I will point out further that if you happen to trade a currency that's cheaper than the USD say AUD, then your commission could be less than the advertised $3 depending on the exchange rate because the $3 is first in AUD and then converted into USD.

The bottom line is: From a commission point of view, cTrader is DEFINITELY not the cheapest in town and it's not even at the "cheaper end"; it's the opposite; it's actually the most expensive if you compare commission per $100K USD traded because the industry standard for commission out there is about $2 - $2.75 per $100K USD traded even taking into account of possible discount from trading a currency cheaper than USD.

That's all.
Make your losses in demo. Earn your profits live.
  • #149
  • Jul 15, 2015 12:21am Jul 15, 2015 12:21am
Quoting Forexia
{quote} It's OK but I just want to point out the difference between the commission charged in MT4/5, even for the same amount is still lower than that of the cTrader. Many of the traders might not realize this when comparing. I will illustrate with the $3 commission. In MT4/5 and in many other trading platforms, because it's $3 per standard lot and not tied into any particular currencies, you only pay $3 per standard lot and that's it regardless what currency you trade. As long as you trade up to 1 standard lot, you pay $3.
My apologies for popping into your conversation.

It is all up to the broker how much he will charge and whether he will charge a commission or only spreads. For Example I am not paying any commissions but my spreads are about 1.5(EURUSD) on my cTrader account.

The fact that the execution is better, platform more efficient, newer and just in overalls better is the reason I choose to trade with cTrader, even if my current broker added a commission I would still continue using them just because I actually am paying for the service I am receiving in this way and I want my broker to continue living and growing, but this is another topic.

Hope my post helps and I wish you green pips bro!
He Who Lives On Hope Will Die Stavring
  • #150
  • Jul 15, 2015 1:53am Jul 15, 2015 1:53am
Quoting denisio
{quote} My apologies for popping into your conversation. It is all up to the broker how much he will charge and whether he will charge a commission or only spreads. For Example I am not paying any commissions but my spreads are about 1.5(EURUSD) on my cTrader account. The fact that the execution is better, platform more efficient, newer and just in overalls better is the reason I choose to trade with cTrader, even if my current broker added a commission I would still continue using them just because I actually am paying for the service I am receiving...
No need to apologize and it is true that commission on cTrader accounts are decided by brokers. Yes you are correct, in the case where a market making broker who also uses cTrader as the trading platform, the commission can be zero in that the broker only chooses to charge a spread. Yes, a market maker broker can also offer cTrader as the trading platform (IC Markets when making market in CFD's for example) but according to the developers of cTrader, they still would NOT be able to use any plug-in's that would allow them to manipulate the trading in any way such as requoting, last-look and etc.

BUT I find when the broker is charging a commission for any trades executed on cTrader, the commission tends to be higher if not the highest among all the commission charged on using various other platforms.

Execution on cTrader is fast but then again, that is still more of a broker's doing. It's still up to the broker how fast they want to execute each order. IB's FX Trader, even it is extremely slow, clunky, user-unfriendly, the execution of a trade via that platform is extremely fast with very little slippages and many times positive slippages. If a broker wants to slow down the execution of a trade, it still can even with cTrader.

After all, cTrader is just a tool. It was implemented with some mechanism to align the interest of the broker with that of the clients but it's still up to the broker how cTrader is used.
Make your losses in demo. Earn your profits live.
  • #151
  • Jul 15, 2015 2:53am Jul 15, 2015 2:53am
Quoting Forexia
{quote} No need to apologize and it is true that commission on cTrader accounts are decided by brokers. Yes you are correct, in the case where a market making broker who also uses cTrader as the trading platform, the commission can be zero in that the broker only chooses to charge a spread.
I'm pretty satisfied with my broker and I have been with them even before they did forex so the trust is there and the platform is so far great.

What platform are you using Forexia? And broker?

Ofcourse if you do not mind me asking
He Who Lives On Hope Will Die Stavring
  • #152
  • Jul 15, 2015 9:44am Jul 15, 2015 9:44am
Quoting Forexia
{quote} From a commission point of view, cTrader is DEFINITELY not the cheapest in town and it's not even at the "cheaper end"; it's the opposite; it's actually the most expensive if you compare commission per $100K USD traded because the industry standard for commission out there is about $2 - $2.75 per $100K USD traded even taking into account of possible discount from trading a currency cheaper than USD.
I think there's a need to set the facts right to all else who may be starting out or looking for a better broker. Commission rates are more dependent upon the broker & not so much on the platforms. Just google for the commission of ATC brokers, FXCM, RealECN for example.
  • #153
  • Jul 15, 2015 10:28am Jul 15, 2015 10:28am
Quoting BigFisherman
{quote} I think there's a need to set the facts right to all else who may be starting out or looking for a better broker. Commission rates are more dependent upon the broker & not so much on the platforms. Just google for the commission of ATC brokers, FXCM, RealECN for example.
Yes but like I said before:

Quoting Forexia
{quote}BUT I find when the broker is charging a commission for any trades executed on cTrader, the commission tends to be higher if not the highest among all the commission charged on using various other platforms.
That is still a fact unfortunately perhaps.
Make your losses in demo. Earn your profits live.
  • #154
  • Edited 11:38am Jul 15, 2015 11:03am | Edited 11:38am
Quoting denisio
{quote} I'm pretty satisfied with my broker and I have been with them even before they did forex so the trust is there and the platform is so far great. What platform are you using Forexia? And broker? Ofcourse if you do not mind me asking
I used to be with IC Markets and I was quite happy trading with cTrader as well but I was not happy with the slippages that I incurred. It was so large that the spread that they advertise was almost false advertising. The unacceptably large slippage coupled with the high commission on cTrader really made my scalping unprofitable. So I had no choice but to leave that broker.

Now I am looking for a broker.
Make your losses in demo. Earn your profits live.
  • #155
  • Jul 15, 2015 12:44pm Jul 15, 2015 12:44pm
Quoting Forexia
{quote} I used to be with IC Markets and I was quite happy trading with cTrader as well but I was not happy with the slippages that I incurred. It was so large that the spread that they advertise was almost false advertising.
Thanks for the reply. Well Forexia, from your comments I see that you are rather knowledgeable about the industry so I am sure you will be just fine anyhow I would like to wish you 3 things on your venture, they are a great broker, safety and many profitable pips.

Do you have any brokers in mind by the way?
He Who Lives On Hope Will Die Stavring
  • #156
  • Jul 15, 2015 2:01pm Jul 15, 2015 2:01pm
Quoting denisio
{quote} Thanks for the reply. Well Forexia, from your comments I see that you are rather knowledgeable about the industry so I am sure you will be just fine anyhow I would like to wish you 3 things on your venture, they are a great broker, safety and many profitable pips. Do you have any brokers in mind by the way?
I am thinking of going for Prime Brokerages like Baxter-FX, pretty much the only one left at retail level. There are some decent true retail ECN brokers like IB, MB Trading and LMAX but they have all have their own limitations and shortcomings that doesn't work for me.

Unless you are a casual, part-time trader that does swing trading on the side of your day job, there is no point wasting your time, energy and capital trading full-time with what I call the Oanda brokers at the retail level, market makers that hedge (you shouldn't even look at what I call the casino brokers, market makers that don't even hedge against your trades). You won't make money with them no matter how good and "honest" they promise to be. It's their economic model and the capital structure of their business that really doesn't allow them to make money at the same time as you do; so they have no choice but to make money at your expense. The only thing with them is if they are regulated effectively by a solid regulatory body, you will be able to get your money back if anything happens or when you want to withdraw your funds.
Make your losses in demo. Earn your profits live.
  • #157
  • Jul 15, 2015 2:20pm Jul 15, 2015 2:20pm
Quoting Forexia
{quote} I am thinking of going for Prime Brokerages like Baxter-FX, pretty much the only one left at retail level. There are some decent true retail ECN brokers like IB, MB Trading and LMAX but they have all have their own limitations and shortcomings that doesn't work for me.
Interesting points you put there, what are the requirements you are looking for in a broker ? and I have a second question that I ask most people I find interesting, what would you rate as your best trading qualities? (i.e. Disciple, strategy etc...)

Many thanks and my very best wishes
He Who Lives On Hope Will Die Stavring
  • #158
  • Edited 3:33pm Jul 15, 2015 2:53pm | Edited 3:33pm
Quoting denisio
{quote} Interesting points you put there, what are the requirements you are looking for in a broker ? and I have a second question that I ask most people I find interesting, what would you rate as your best trading qualities? (i.e. Disciple, strategy etc...) Many thanks and my very best wishes
The same qualities that you look for in a broker for trading in any other instruments or rather in a business in general; forex is no different.

My best trading quality I would say is be able to know where and how I f***'ed up and know how to fix it so it won't happen again when faced with the same situation.

My best wishes to you too!
Make your losses in demo. Earn your profits live.
  • #159
  • Jul 16, 2015 10:38am Jul 16, 2015 10:38am
Hey Forexia,

Great posts brother, quick question for you...If I have a Metatrader 4 EA and wanted to use a broker like FxPro using there CTrader/CAlgo system, how do I convert my MT4 EA to CTrader/CAlgo so I can trade on FxPro platform? Can you recommend a software company or individual that can convert my MT4 EA to CTrader/CAlgo? Thanks again in advance....
  • #160
  • Edited 12:42pm Jul 16, 2015 11:03am | Edited 12:42pm
Quoting tiago
Hey Forexia, Great posts brother, quick question for you...If I have a Metatrader 4 EA and wanted to use a broker like FxPro using there CTrader/CAlgo system, how do I convert my MT4 EA to CTrader/CAlgo so I can trade on FxPro platform? Can you recommend a software company or individual that can convert my MT4 EA to CTrader/CAlgo? Thanks again in advance....
I am aware of a website called 2calgo.com that you can use to convert your MT4 EA to C# for you to use in cAlgo but I have heard that it's not perfect and not complete so buyer be aware! Apart from that, you will have to learn C# to reprogram the EA in cAlgo. TRUST ME, C# is REALLY easy to learn and the flavour of C# used in cAlgo is REALLY watered down and simplified. Like I said in my previous post, many of the inheritable classes are not there and many of the capabilities are left out so you are just working with a very high-level of C#. All the libraries are already imported for you.

In my personal opinion, EA in MT4 is LOT more difficult to program because it uses C++ where C# is derived from so if you can create an EA in MT4, you should have NO problem programming in C# in cAlgo. For all the years that I have traded in MT4, I have NEVER been able to program my own EA. LOL I don't know any person or software company that does the conversion though but if you google it, I am sure you will find some.

Sorry and good luck!
Make your losses in demo. Earn your profits live.
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