Automatic Trading and Binary Options

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Hello everyone, I am facing with Metatrader a new thing for me: interfacing with a broker. If possible, I would like to understand some things about Metatrader’s link to brokers in order to issue orders directly from Metatrader towards brokers who manage the BINARY OPTIONS market and other types of transactions

I would like to point out that from Metatrader my idea was just that of triggering sales or purchase orders towards the broker without importing the state of the order from the broker. I would have directly checked the status of the order directly on the broker's page.

I recently found an English broker who said he was directly managing Metatrader 5 but then after creating the virtual account I realized that the system did not work. After a while the assistance told me that the system does not work with European countries. So it only worked in England and in other states. They did not give me any more explanations. Then I learned that from May 2017 it is not possible to work on binary options in order to prevent that unprepared people can use this system as a gamble (so I was told). And therefore there are many reductions. For example, some brokers no longer run more than 1-minute binary options.

From this initial experience I would like to understand some things and I wrote some questions in order to orient myself. I will be grateful to all those who wish to intervene on the subject or indicate any useful documentation.

1- To link Metatrader to a Broker is it better the MT4 or the MT5 version? From what I've seen, MT5 works in two ways: it is supported directly or uses APIs, but apparently there is a problem in finding a broker working with Europe. While the MT4 version only works with APIs. What is better? If I understood correctly the MT4 + API version is easier to manage and program.

2- The APIs I see are written in Dot.Net for local use and in Java / Asp.Net for use with the Broker. I've seen APIs are supplied directly to the Broker. Is this correct ?

3- Are there free APIs and are they good with several brokers?

4- According to your experience, do you think it's better to have a one-way functionality (orders from Metatrader towards the Broker), or do you also need feedback on the transactions you make and, therefore, have a bidirectional management with the repositioning of orders on MT4 when you receive feedback from the broker?

5- Which protocol do you exchange information with? FIX or something else?

6- The information exchanged is in real time or is there any delay of time? I’ll explain myself better: if I say with Metatrader to sell a title at 17:22:10 the broker will execute the order immediately or after  some time (seconds or fractions of seconds)? I have generally seen from 50 to 100 milliseconds.

7- Do you use XML files to exchange data? Is there a manual to understand the data exchange protocol?

8- Where can I find information to install / configure / program an API environment? Are there examples of how exchanging orders and acquire data from the Broker? Does the scheduling of APIs and the program sending orders to the broker vary from broker to broker?

9- Who has tried to use a Metatrader / Broker interface can recommend me a powerful and easy solution to implement / program in MQL4 to send an order to the broker? I would like to have an open solution. Not closed and therefore flexible and programmable.

Function type that performs a similar library statement (example):
To_my_broker ("username", "password", direction, symbol, expiry, investment)

10- Is there a list of certified brokers for the use of Metatrader (MT5) or with Metatrader and API (MT4 / MT5) in Europe?

11- Do trading with Binary options and MT4 require to use the Expert Advisor exclusively, or can I also use an Indicator or script?

Many thanks to all of you

 

I am not sure that it helps but please find the links which I collected and which may be related to this subject - 

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Binary Options

  1. What is binary option trading? thread 
  2. Forex Options, a different way to trade - the thread
  3. EURUSD Hourly Binary Option Trading System thread
  4. Binary Options Signals/Help thread
  5. EA for Binary Options : How to pass the expiration time in the ordersend() ? thread
  6. Binary options good for a newbie? discussion thread
  7. MT4 - trading functions - use Expert Advisor to operate with binary options thread
  8. What is binary option trading? thread
  9. How to Copy a Binary Options Signal? thread 

Binary Options CodeBase

  1. Binary Option open trade - script for MetaTrader 4
  2. Binary Options Strategy Library
  3. Binary Option open trade
 

Thanks for the answers

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