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Which Forex broker works better on Multicharts?
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Which Forex broker works better on Multicharts?

  #1 (permalink)
Elite Member
Mianyang China
 
Futures Experience: Beginner
Platform: Multicharts
Broker/Data: broker: Oanda
Favorite Futures: HSI, DAX, ES
 
Posts: 67 since Aug 2017
Thanks: 13 given, 7 received

Which Forex broker works better on Multicharts?

Hi,
I am using Multicharts, want to trade Frorex. So which broker's data feed works good in Multicharts? And also ask/bid spread not too wide.

Thanks.

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  #2 (permalink)
Trading for Fun
Trieste Italy
 
Futures Experience: Beginner
Platform: Multichart
Favorite Futures: Mini dax
 
Posts: 63 since Feb 2018
Thanks: 49 given, 6 received

Hello,

this is an old post and nobody seems to be interested in this matter. However I'm curious to know wich FOREX broker is the best for multichart.
Any advice??

Regards,

David

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  #3 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,730 since Apr 2013
Thanks: 265 given, 997 received
Forum Reputation: Legendary


David,

I don't think there is the one best broker. This can be very subjective and it will depend a lot on your requirements. I would suggest taking a look at a few of the supported brokers: https://www.multicharts.com/features/brokers/.
Then once you have found one or more brokers that fit your criteria (in terms of required account size, spreads, account security etc.) check other user's experiences in the official forums (with this broker and together with MC). This way you should be able to find the best broker(s) for you.

Regards,

ABCTG

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  #4 (permalink)
Elite Member
Mianyang China
 
Futures Experience: Beginner
Platform: Multicharts
Broker/Data: broker: Oanda
Favorite Futures: HSI, DAX, ES
 
Posts: 67 since Aug 2017
Thanks: 13 given, 7 received


Dvdkite View Post
Hello,

this is an old post and nobody seems to be interested in this matter. However I'm curious to know wich FOREX broker is the best for multichart.
Any advice??

Regards,

David

I'll answer by myself.
I am now using Oanda as my broker, and it supports Multicharts well. As far as I know, Oanda is a solid broker, you can trust it.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

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The following user says Thank You to jiaqiangmit for this post:
 
  #5 (permalink)
Trading for Fun
Trieste Italy
 
Futures Experience: Beginner
Platform: Multichart
Favorite Futures: Mini dax
 
Posts: 63 since Feb 2018
Thanks: 49 given, 6 received


ABCTG View Post
David,

I don't think there is the one best broker. This can be very subjective and it will depend a lot on your requirements. I would suggest taking a look at a few of the supported brokers: https://www.multicharts.com/features/brokers/.
Then once you have found one or more brokers that fit your criteria (in terms of required account size, spreads, account security etc.) check other user's experiences in the official forums (with this broker and together with MC). This way you should be able to find the best broker(s) for you.

Regards,

ABCTG

Thanks for your advice.
I'm, at the moment, just curious. I'm actually creating my first strategies for futures and I'll probably work on that for the next month.
But surfing the multichart forum I saw a very big discussion of 2011 where there was problematic to suggest a very good forex broker for several reasons ( trustable broker, connection interruptions problem, had to restart MC to often and so on) and i thought that in 7 years (till today) things may have changed :-D I hope...

Regards,

David

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  #6 (permalink)
Trading for Fun
Trieste Italy
 
Futures Experience: Beginner
Platform: Multichart
Favorite Futures: Mini dax
 
Posts: 63 since Feb 2018
Thanks: 49 given, 6 received


jiaqiangmit View Post
I'll answer by myself.
I am now using Oanda as my broker, and it supports Multicharts well. As far as I know, Oanda is a solid broker, you can trust it.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Hello jiaqiangmit, thanks for the suggestion. I saw this broker in the multichart site under the supported broker list... But I can see a monster spread.. it's about 6 pips?? that's really too much .... don't you think??

Regards,

David

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  #7 (permalink)
Elite Member
Mianyang China
 
Futures Experience: Beginner
Platform: Multicharts
Broker/Data: broker: Oanda
Favorite Futures: HSI, DAX, ES
 
Posts: 67 since Aug 2017
Thanks: 13 given, 7 received


Dvdkite View Post
Hello jiaqiangmit, thanks for the suggestion. I saw this broker in the multichart site under the supported broker list... But I can see a monster spread.. it's about 6 pips?? that's really too much .... don't you think??

Regards,

David

Oanda is a honest broker, the spread showing now on the site is of the last minute of the trading week.
the spread of EUR/USD is 1, and US SPX is 0.5, Australia 2000 is one.

Now it's weekend, the last minute of the week the spread is usually high. You can recheck it by work day.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

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  #8 (permalink)
Trading Apprentice
Zurich
 
Futures Experience: Intermediate
Platform: Multicharts
Favorite Futures: $CL
 
Posts: 8 since Aug 2015
Thanks: 4 given, 2 received

I started off with Oanda and switched to LMAX a year ago. LMAX is much better in my opinion. The transaction costs are smaller (even though you have to pay the spread + commissions) and the connection with multicharts has been much more stable. The worst thing about oanda though is that buy stops get triggered at the ask and not the bid, which means that you might get stopped out when spreads widen (especially overnight). Also when trading automated breakout strategies, you will have fills with oanda which would not have been filled in your backtest. LMAX lets you chose how buy/sell stops should be triggered in the settings.

I am in no way affiliated with LMAX.

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The following user says Thank You to kristian for this post:
 
  #9 (permalink)
Elite Member
Mianyang China
 
Futures Experience: Beginner
Platform: Multicharts
Broker/Data: broker: Oanda
Favorite Futures: HSI, DAX, ES
 
Posts: 67 since Aug 2017
Thanks: 13 given, 7 received


kristian View Post
I started off with Oanda and switched to LMAX a year ago. LMAX is much better in my opinion. The transaction costs are smaller (even though you have to pay the spread + commissions) and the connection with multicharts has been much more stable. The worst thing about oanda though is that buy stops get triggered at the ask and not the bid, which means that you might get stopped out when spreads widen (especially overnight). Also when trading automated breakout strategies, you will have fills with oanda which would not have been filled in your backtest. LMAX lets you chose how buy/sell stops should be triggered in the settings.

I am in no way affiliated with LMAX.

In my country Oanda's fxTrade connection is not so good, and in Multicharts when backfilling the 15min data from 7017-01-01 to today, it took more than 3 hours and not finished yet. I'll try Lmax.

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  #10 (permalink)
Trading Apprentice
Brisbane
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: CQG
Favorite Futures: FGBL, FESX, FDAX, 6E, 6B
 
Posts: 7 since Nov 2017
Thanks: 3 given, 4 received


Recommend you try LMAX, however they don't allow retail clients from certain countries.

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