FXCM or other U.S. SEC regulated brokers
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In the U.S. (I'm not sure where FXdreema is based) FXCM is a major trusted broker.
Since the Security Exchange Commission made changes, it changed how FXCM allows its clients to trade.
For example when you go long, the only way to "Close" the trade is to actually "Sell" for the same amount.
So the only commands in MT4 are Buy and Sell. There is no "Close".
Will using Close in FXDreema perform the same function as "Trade in the option Direction"?
Or instead of using Close Trades Block I just use another Sell at the end of my conditions?
Or will this work at all with these SEC regulations? (which are just plain annoying.)
Are you familiar with these rules and how the coding works with the brokers that follow them?
- David
(I will probably be going with an overseas broker anyway, but in case I'm not able to, I wanted to ask because FXCM is quite reputable in the States.)
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I know about this shit, but I think OrderClose() should work. But I don't know for sure, because I never tested such brokers. I am from Europe. Can I actually have demo account with these stupid rules?
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Thanks for the empathy. I'm hoping there worn't be any road blocks to go live at FXChoice. They are very highly rated by 4xpeacearmy.com.
These rules are symptomatic of the upside-down priorities in our country right now. These rules make it much easier for the individual trader (small-guy)to make a mistake and loose a lot of money.
- David
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So to answer your question, if you really want to test on a demo account with these restrictions: https://www.fxcm.com/
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I can easily find and make demo account for FXCM in MetaTrader, but it still works in the european way
Anyway, if something does not work, at least error messages are thrown. What are your error messages when trying to use "Close trades"?
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I have not tried with one of these accounts yet. I have been using a broker from Nepal. I will probably go with them when I go live so I don't have to deal with this.
I was just asking in advance in case there are roadblocks to going with a broker overseas.
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And I decided that you have problems with this.
Not long time ago, someone asked me something for such type of broker here in the forum, but I think the problem was something else. I expect that "Close trades" will close the exsting trade, but if this doesn't work I will fix it.
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Okay, I'll let you know.
FXChoice from Nepal tells my I can trade there even though I am in the U.S. so I will probably do that.
Have you heard of them or any feed back about them? Honest broker?
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I don't know FXChoice
But I only ever had real accounts in 2 local brokers, so I can't tell if any other broker is good or bad. -
If you don't mind my asking, who do you use?
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I am also using FXCM in the US. I use "close trades" and it works perfectly. I've never had a problem exiting a trade.
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Thanks, but man, I am just starting a demo account with FXCM for 2000 and I haven't checked the requirements for available margin, but based on the stop-out due to FIFO rules, it seems like I have to have an outrageous margin available just to stay in a trade.
How on earth can one make any money here if you can only use such a small portion of your acccount?
Or am I missing something?
Are there other account settings they offer different than the default settings for a 2k account?
Thanks for you answer by the way, and yes, the EA is closing out just fine for me as well.
Its' just that my FXChoice account is way more profitable because those trades close with a profit because it can use more margin to play with.
David
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__If you don't mind my asking, who do you use?[/quote:1rksqrky]
I created my real accounts long time ago, before fxDreema. The first one I have is in a broker that does not use MetaTrader. The second one is in a broker where I used some Saxo platform and then I started using MetaTrader 4. It also offers MetaTrader 5, but I never used it.
I must say that I am not a trader, I was just playing few times with my real account and I was losing every time. I never traded automatically, only manually. Obviously I created this tool called fxDreema that many people are now using, but my job now is to make sure that it works properly and to answer to questions. I just don't deal with brokers and I have no professional opinion about them
