Well, this was news to me just a few days ago. DukasCopy, one of the biggest institutional brokers in the World, is implementing MetaTrader4 as trading platform, in parallel with their current offerings. Right now they’re offering what they call a “temporary beta demo”. I downloaded and started four MD charts (+2,+4,+6,+8) yesterday. It have done very well actually, better than JadeFX demo with the same setup for example (of course no guarantee for live performance).
Good news also is that they allow accounts with minimum $5000 (lowered from $50K to $10K and now lowered again). Minimum lot size is currently 0.1 of a million, but there’s a rumor that they will allow trading micro lots soon. That could be very interesting.
Even if you’re not interested in opening an account there, check out their history center. Excellent for backtesting on M1 way way back. I ran a 10 year MD backtest yesterday with 90% modeling quality. Not like your average ECN, who often don’t offer more than days of M1 history. The best would have been tick data of course, but MT4 doesn’t offer this possibility.
Check it out yourselves: http://www.dukascopy.com/swiss/english/forex/trading_login/marketplace_demo_login/ (at the bottom of the page)
Time for a update since the release date of the new creation from FAP Turbo team is approaching, fast. It was called FAP Turbo Swiss the last time I wrote about it, now it is renamed FAP Turbo Evolution. It will be limited to 2000 copies. And it will be released on July 14th at 9am EST (that is 15:00 GMT I think…). The broker is still DukasCopy in Switzerland, which is currently accepting accounts with minimum of $10000 (or equivalent, say €7300 if you prefer the EUR). The price of the software is $599.
So, I will try to get a copy. It is four times the price of the most expensive EA I have bought and the deposit requirement is 7 times what I have put up yet, so it is quite a step up for my Forex “operation”. Hopefully it will meet my expectations…
As a side note I yesterday recieved a email from the MegaDroid team stating that everyone who use their link to buy FAPT Evolution will be getting a new EA from them, for free. It is a new version of the MegaDroid called MegaDroid PRO, and get this, it trades three currencies 24/5! I don’t know if I am more excited about that piece of news or the FAPT Evolution even! MegaDroid is a very stable performer, and I would love to be able to trade it on more than EURUSD. Also, because I currently am trading it 12 hours a day myself by tricking it, I know it can be profitable during more than the dead hours between NY close and Tokyo open. I don’t know if MD Pro is using MT4 or JFOREX platform thou… Would love it even more if it also ran JFOREX at DukasCopy.
Oh, and I almost forgot. There is a war going on between some sites online that offer rebates on the Dukascopy commissions. The top offer right now (and possibly this is where the limit is) is 40% back. Wow, that is quite a lot. Cashbackforex.com is currently “only” offering 35%, but their reputation perhaps make up the 5% they keep. I actually think so, and probably will sign with them.
