Do you know or can recommend a reliable MT4 Forex broker, with hedge positions allowed, where you could put bigger money (let say more than 100 000) ?
I tried a few personally with small accounts and the same robots, and I found huge difference between them. I stopped all exotic countries and/or the ones with no financial regulation.
An investor want to try one of my (hedge) robots on a bigger account, but I am afraid to recommend any broker.
So if you have any suggestion you are most welcome. thanks in advance.
MBT has a Europe/UK branch office which should allow for 100:1 and short & long in the same pairs. Pepperstone (Australia) has a decent reputation with surprisingly tight spreads and quite quick ping/response time with no requotes or MT4 monkey business (at least based on 1 colleague I know that uses them for a low 5-figure account).
I've heard good things about the Integral liquidity pool, and I know they offer MT4/bridge solutions that are in use by a few brokers (not sure about hedging though, since some are US based) - more info on them here: Integral MetaTrader 4 Bridge - they have a few shops listed among their MT4 pages, but few are shops you'll hear recommended IMO. I have also tried a few UK based MT4 shops with a supposed link into Currenex, but their response time and spread was pathetic, so I quickly shut that down.
You could also look into CitiFxPro - Citi is among the top-5 liquidity providers, (Foreign exchange market - Wikipedia, the free encyclopedia) and apparently is looking/striving to return to #1, and they have a $50K+ MT4 option that has decent spreads. I have traded with Citi in the past, and they are little known in MT4 broker-land, but IMO one of the safest places to be. Although US based, I don't think they are grounded by all the Dodd-Frank mumbo-jumbo, but do check that. They used to have FDIC account protection, but they quietly sunset that (and it wasn't applicable to non-USA sourced investors anyway).
I don't know enough to give any significant or critical assessment of what type of protection or regulation an Australian domiciled broker provides.
With any MT4 broker, it's key to identify where their business is located, registered, operating from, and to what extent it is regulated - the bigger $ amount one places with them, obviously the more important these questions become. Do bear in mind some of the tricks used by far too many MT4 brokers, where, they appear to give the impression that are located and run from a G7/G20 country like Australia, meanwhile their legal existence and incorporation might be in a place like Mauritius.
One can ask themselves why a prospective MT4 broker chooses to set up their MT4 shop clearly outside the legal reach of their real and residing country, in a place like Mauritius - not exactly known for common law and legal principle reinforcement. The truth is that borders introduce major hurdles in international law, and require costly legal intervention to pursue problem situations, something that the vast majority of often undercapitalized MT4 traders just don't have the resources to pursue, should they have been wronged by their MT4 broker. This is why it is imperative to read all customer agreement/documents before sending any money, including those of an outfit like Pepperstone, to get a better view into what you are signing up for. Also, trying to get some real user's impartial opinion with respectable amounts of capital, is imperative. At minimum, starting with a smaller deposit, making many withdrawals, and then moving up from there.
Yes, MT4 brokers can be scary, evidenced by the alarming amout of monkey business an absurdly large amount of them have partaken in, many incorporated in places like Mauritius, Belize, Republic of Seychelles and other places 99% of people have never heard of. But, with a proper datafeed, and a true well capitalized ECN broker, along with a level of recognized financial certification/control, the odds are on the investor's side that things can run well with a MT4 account; I and many others are running with MT4 brokers profitably. But let's remember the Corzine affair - with people/humans ultimately at the helm, these situations can arise anywhere.
Last edited by Beljevina; April 8th, 2012 at 11:39 PM.