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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??
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.
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.
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...
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??
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.
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.
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.
