Interesting topic for many: what's new in MetaTrader 4 and MQL4 - big changes on the way - page 21
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Maybe it's time to create a forum thread to talk to and about brokers?
... ...because there is no feedback.
That is, the real purpose of brokerage is replaced by the itch to develop. I have exactly the same itch, but my itch is fully aligned with my business direction.
The betting in MT5 is fully integrated with the whole system, all the gateways, processes, experts, etc. And any MT5 broker is completely free of gateway issues. If you need it, it's much easier to write the gateway using the internal and tricked-out MetaTrader 5 Gateway API. So, you don't have to waste your time on programming itch.
But some people continue to criticize MT4 and don't look at MT5, where all this is fixed at root. And several brokers have already turned a blind eye, went to write ECN and are now starting to suspect something.
And the technozoom of a non-specialized company always loses to a specialized one.
Brokerage companies are not able to make retail software. Becoffices are sawing - yes, but when going public almost all of them (and I have seen them and talked to many) get "minus NN million for 3 years and refusal". For investors of companies, the result can be discouraging "guys, why did we spend a shitload of millions and Metakvotes sells for pennies??? you promised that the budget would be reasonable and the time frame 6-12 months, but you have already spent 3 years and 3-5-10 million!"
Brokers, using specialised and mainstream systems, are trapped in the perception of "yes all infrastructure is easily and cheaply available like in a supermarket". When they try to replicate it, they go out into a clear field with a shovel, scratch their heads and get suspicious of something.
The functionality of what you are doing was already in MT5 at the time of the decision. If strongly needed, it was enough to write new gateways using the Gateway API in addition to the existing ones. At the moment it turns out that you spend your resources on reinventing the wheel, while other companies get similar and better solutions automatically and for free.
This is how mass-produced products periodically nullify custom solutions in different industries.
You apparently don't understand at all. Here is an example of an exchange. The exchange is engaged in "technozuding", but it is also a kind of big Broker - direct connections between ordinary brokers and some clients.
So Dmitry is not engaged in brokerage, but in creation of his site. To which in the future the gateways will be written, in particular, through your Gateway API.
Feel the difference between a marketplace and just a brokerage. You announce gateways to different marketplaces. Maybe someday you'll make a gateway announcement to Dimitri's site as well.
You can't do without "technozudes" when setting up a site. And the same technozudy is engaged in, for example, HotSpotFX.
The final mass client of the platform is retail brokers and institutional market participants. Increasing the base of retail individual traders as a goal is only at the beginning of any site's journey.
Don't hesitate to read up on this in your spare time.
Perhaps at some point you can make an announcement of the gateway to Dimitri's site as well.
I'm afraid you don't know the reality:
The result is that:
Many people don't quite understand the business of ECN platforms. There:
We at MT5 are the ones creating the infrastructure for really flexible and independent ECN networks, where any MT5 broker can connect any other MT5 brokers (and other liquidity providers) to their ECN. Not another bicycle for one broker, but a standard mass solution for all brokers.
We constantly make mass solutions available to hundreds of brokers and millions of traders.
Always happy to be wrong, as it is a learning experience. Without any sarcasm, I like what you have written. As it can really speed up the movement of the nidustry towards transformation. To spur competition.
Too bad the MT5 client terminal/tester doesn't see the same scale of thought.
I would like to comment on some points:
любой МТ5 брокер может работать через STP/ECN с несколькими другими МТ5 брокерами одновременно и любыми другими несколькими ECN провайдерами типа Currenex/Hotspot/CitiFX/Integral/Fastmatch и другими, что закрывает почти все потребности
To repeat my question: aggregation?
Huge competition, which could increase by an order of magnitude with MT5
Huge competition here because of the very weak technozoom. Everyone is taking the old site creation schemes, ending up oversaturating their market. And here you can compete only through technozoom, which is advanced algorithmically, and by creating your own organisational conditions. Only new wave aggregators are able to do that. Therefore my question about aggregation opportunities is more than relevant.
In a while the MetaTrader 5 Exchange Server will be launched, which will allow any MT5 broker instantly become an independent ECN provider with an advanced matching engine
And this is on the subject of your client terminal/tester being completely unprepared for this. ECN cannot be seriously tested without Ask history, because own orders have significant influence on historical data (High_Ask and Low_Bid). Plus, the need for custom history to cut off at least those prices that surely would not be executed. And so on. In general, the basics of algotrading practice.
I'm afraid you don't know the reality:
The result is that:
Many people don't quite understand the business of ECN platforms. There:
We at MT5 are the ones creating the infrastructure for really flexible and independent ECN networks, where any MT5 broker can connect any other MT5 brokers (and other liquidity providers) to their ECN. Not another bicycle for one broker, but a standard mass solution for all brokers.
We constantly make mass solutions available to hundreds of brokers and millions of traders.
As far as I understand such form of earning as a client aggregator of several DCs, it will become a complete disadvantage.
If even the DCs can exchange liquidity, the client with their pings surely can't keep up with them in their aggregator.
If we are talking about arbitrage, only a complete centralisation of the market can kill it. That is unrealistic, no matter what technology is used.
Arbitrators contribute a lot to the centralisation of the Market, but not very much - there are still arbitrage opportunities.
And so, "client aggregator from several DCs" is a very rough model of the new wave aggregators.
That is, it is in these aggregators that you can arbitrage without creating anything within the(virtual) platform created for you.
A competent arbitrator dreams of such an aggregator. And this is somewhat of a headache for aggregators, as it requires constant brainstorming to create conditions that do not worsen much for arbitrators.
Hrenfx,
1) The masses should never be listened to, for their collective (formed by negative selection from the especially exuberant, especially on the Internet) mind is conservative, does not want change and is passively self-destructive
2) The behaviour of not insignificant companies/corporations is almost always determined by competition and cost estimates of "innovate or sit on the old". Ideally, the strategy of the biggest players is "freeze the current state and get forever what I'm getting now and keep their share". Although it is clear that they cannot freeze and need to develop, the approach "if possible, I will slow down the industry or postpone the arrival of a new one" wins out overwhelmingly.
3) Development is not driven by those who agree/ask/see through their mouths, but by those who think deeply for the masses and who clearly understand the behaviour of the corporate sector.
Therefore, the statements "why a trader, why a broker" go straight into the trash.
Renat, I agree with all three points. There is only a slight contradiction about the rubbish bin, as you are putting the questions from it to yourself at least.
"Better a bird in the hand than a crane in the sky" is the standard approach of the masses. Progress for the sake of progress is utopia.
Imagine that everyone moved from MT4 to MT5. What is the historical value of that? Would it make you feel better knowing that you could move everyone to a programmatically more advanced platform (not the terminal, but the platform in general) and that the financial performance of your business is not falling? What difference will it make to the historical development of the industry? My answer is no.
Why make a technologically perfect chippy? Yes, MT5 is more perfect than MT4, so what?
MT4 has a lot of historical merit, one of which is the popularization of automated trading amongst retailers. And that historical milestone caught me too, for which I'm very grateful! But what can MT5 give you? Improvement of algotrading? -No. Market centralization? -Doubtful. What?! Where will the massive breakthrough in consciousness happen in a year or two, where are you obliged to look when making your plans? Where to move the masses?
I do not understand people who limit their development on brokerage and creating platforms for it. Where to expand their horizons? Yes, you move on the stock exchanges - that's great, but on FOREX everything, oversaturation. There can be no historic breakthrough within such a narrow vision of the business.
In FOREX, the future lies in platform-independent venues with their pure (non-marketmaker) liquidity and best trading conditions - the potential profitability of any TS is higher than anywhere else. Their future historical significance is that they centralise FOREX, make it more transparent, change the rules of the game in this market, give a huge boost to the further development of algotrading and create a massive segment of FX-HFT. Finally, the merger of the retail and institutional segments of the FOREX market.
When you think about profits, it is the historically significant things that can give fabulous profits. And MT4 has demonstrated this perfectly.
Self-esteem for the amount of money earned is the initial vision of those who rise from scratch. At a certain point, however, it becomes important to understand the significance of what you've done on the job. Achievement ceases to be measured only in terms of money.