Metaquotes vs Other Broker

Hi,

my question can results a little stupid but...

is normal have difference between a demo account of metaquotes and a demo of alpari uk? i mean i'm running same EA on both account but gave totally different results..

thanks for your answer...

Marco

MF78 posted:
Hi,

my question can results a little stupid but...

is normal have difference between a demo account of metaquotes and a demo of alpari uk? i mean i'm running same EA on both account but gave totally different results..

thanks for your answer...

Marco

Hello Marco, in my opinion:

Yes, Forex is a decentralized market. For example, in the stock markets is centralized, meaning that all the orders/operations are going thru an exchange, all orders are transparent (except for the orders in the dark pools, but that is another topic). In forex we don't have a physical exchange for all the transactions, instead, we send our orders to a electronic network/exchange, rarely entering to the real interbank fx market . In this way every broker usually offers different quotes/prices. This is because every broker has different data feed providers (hypotetical example: Alpari uses liquidity providers from bank A, metaquotes uses bank B). This different prices are usually not that far apart to make a system go red on broker A and green on broker B.

Truth is, we as retail traders are in disadvantage compared to professional traders, retaiil brokers are very different from prime (institutional only) brokers. We don't usually have access to the real interbank fx market (where the big money players work). Sometimes the retail broker even play against us (taking the other side of our trade, stop hunting, fading the price, etc etc) The best I recomend you to do is to find a good and reliable ECN Broker (Electronic Communications Network), one who uses tied-up banks as liquidity providers. Those who usually have little spreads (sometimes even positive spreads) and charge you comissions, in this way you now assume that the broker's gain come from charging comissions (like a futures broker) and not by trading against you.

I hope this helps you out, mate. Of course all of this are just my humble opinion. Let me know what do you think.

Regards.

yes obviously.. each broker will have different filtration settings and different feed provider...

Its the trading platform that creates issues. We abandon metaquotes, we find better brokers.