Most FX traders have been trading currencies through MetaTrader 4 for many years. Indeed, this has been the most popular FX trading software, the industry’s standard so to say. There is no denying the fact that this piece of trading software is convenient, multifunctional, and makes it possible to use custom trading robots written in MQL4.
Still trading software is getting more powerful and sophisticated, which is why there cannot be any monopoly among trading software developers. Even despite all the advantages of МТ4 and МТ5, both desktop, mobile, and web-based versions, they still fail to give the trader everything the trader needs to trade currencies really securely and efficiently.
МТ4 Drawbacks Through The Eyes Of Pro Traders
For example, professional traders say that there is now way to see the current market depth in MT4. Even though some brokers improved the basic version of MT4 and adapted it to ECN and STP trading, thereby letting the trader access the genuine interbank liquidity, the very architecture of the trading software is not intended for super-fast trading of today. With that being said, MT4 cannot handle thousands of orders in a matter of seconds and provide the best and true quotes at all times.
All of that results in re-quotes, lagging, negative slippage and so on. Indeed, an STP//ECN-modified MT4 can provide you with the access to the quotes translated by major liquidity providers. But that’s basically it! When you press the BUY or SELL button, you get your order executed only a few seconds later, which is enough time for the price to change considerably.
Apparently, intensive short-term traders are the biggest losers in this case since they need super-fast execution of their orders. That’s why you should known that the so-called Instant Execution in MT4 in reality means exact/precise execution, not instant one. You still have to wait for a couple of seconds to get your order executed. On top of that, if there is no such price at the moment of execution, the order is not going to be executed until the requested price is finally there. Trading through Market Execution is another story. You get your orders executed at the current market price with no re-quotes and delays.
MT4 is ideal for the first option. You can even set the deviation range to let the software execute the order at a new price if it’s within the deviation range. However, in order to execute all orders at market prices, we need a much more powerful piece of software capable of handling hundreds of thousands of client orders in a matter of seconds. Practice shows that MT4 cannot handle this task and often fails, which may result in some traders losing their money, which is not appropriate.
All of those problems are solved within the scope of the most innovative trading platform FIX API by SFX Markets.
FIX API: Trading Software For Savvy Traders
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THE FIX API
As the global standard for exchanging electronic financial market information, the FIX API or protocol gives traders total trading control and offers:
KEY FEATURES
The trader gents direct access to tight spreads from the industry’s major Interbank liquidity providers.
You can also program your own trading applications or use an existing one. You can use some of the most popular programming languages for that purpose - Java, C++ and others.
With FIX API, you get much faster overall order execution.
The bonus benefit is the relative privacy you can enjoy when it comes to your trading strategy and trading activities.
Lightning-fast execution of client orders, access to major liquidity providers, backing excellent market depth and so much more. This is what FIX-based TrueFX is all about. Indeed, SFX Markets is the only broker out there who managed to take the benefits of TrueFX to the next level by integrating it with the so-called FIX protocol. As a result, 99,99% of the traders successfully benefit from this innovative solution.
How It Works?
You can benefit from FIX-based TrueFX trading a couple of ways. To be more specific, there is a standalone FIX account and standalone trading platforms – SFX Trader Pro and SFX Prime Trader. For more information, please visit https://www.sfx-markets.com/trading/platforms
Many experts say that the FIX API is a true breakthrough in online FX trading. This is a new quality standard in the industry. The FIX API both provides access to the world’s major liquidity providers and unites them into a single network to let the trader see the best prices available every single moment. If coupled with a relatively low starting requirement for this kind of trading, as low as $5000, this is a truly unrivaled solution. On top of that, as you can see, the company’s trading software has a lot of advantages over the conventional MetaTrader 4. It is like switching from an old and cheap car to a new and luxury one.
The bottom line is that SFX Market can be considered a great choice for those seeking ultimate trading experience leading to outstanding financial results.
