Interbank FX just announced that it will assist client who use EAs with the transition to market orders and 5th decimal pricing.
This is one of the most important changes this industry is undergoing as not so long ago brokers used to reject EA orders and even block EA trading accounts. Scalping was prohibited by many brokers, and is still not acceptable by some. The change in perception is that a high frequency trader is often much more profitable to the broker than a trader who loses all his money in a single deal and then goes to complaint to the regulators and write about his bad experience on forex forums. In the long term high frequency traders (and EA users are often such) bring more money to the broker from spread/commission and are usually more satisfied with the broker.
You can see the same with FXCM who not that long ago offered traders assistance with coding their EAs for very reasonable prices.
“At Interbank FX, we strive to improve our technology and trade execution for the benefit of our customers. However, change can bring with it a sense of uneasiness, and we’re committed to helping you understand these changes every step of the way.
With our recent modification of how orders are carried out within MetaTrader4, we want to ensure you are receiving the support and personalized attention you need when it comes to your Expert Advisors.
We have developed a detailed code to help you with our 5th decimal pricing shift and transition to market orders.
If you need assistance adjusting your EA code to work in this new environment, you may email your questions and/or mql file(s) to the following address: easupport@ibfx.com If you need assistance with this, please contact our Customer Service Department:”
Hi Michael,
If you were an automated trader, would you want your broker to know all the intimate details of your strategies?
Cheers,
Jim