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  • SimonBaldwin
    replied
    How can I tell which one is the best broker among those mentioned on the list here?
    https://evokefinance.com/best-binary-options-brokers/

    Leave a comment:


  • barnacle
    replied
    Is there any update on the ASIC licence ?
    Any update on a Hybrid ECN PAM under the ASIC licence occurring ?
    Thanks

    Leave a comment:


  • Chubby38
    replied
    Originally posted by MT.COOK View Post
    Hey Chubby. It is going to take a few weeks until the full ASIC integration is ready (we need to engage Metaquotes for some things). But afterwards we will offer standard MT4 PAMs (the same as most brokers use) and will have traditional funding sources in addition to our normal bank wire and Neteller options.

    The ECN PAM however (where clients can invest in any currency, and set their own risk multipliers, and hard equity stops etc... ) will only be offered on the FSB (Global) license for the time being. We hope in due course that we will have it available under both licenses. But out of the gate, it will be regular PAMs on the ASIC license, and the advanced hybrid ECN PAM on the global FSB license.
    Thanks for the update....
    Will hopefully look forward to the ECN PAM under the ASIC licence in the not too distant future.
    The PAM interface system where you can set your own currency/risk/hard stop etc when all the regulation is sorted sounds the way to go.
    Cheers
    Chubby

    Leave a comment:


  • MT.COOK
    replied
    Hey Chubby. It is going to take a few weeks until the full ASIC integration is ready (we need to engage Metaquotes for some things). But afterwards we will offer standard MT4 PAMs (the same as most brokers use) and will have traditional funding sources in addition to our normal bank wire and Neteller options.

    The ECN PAM however (where clients can invest in any currency, and set their own risk multipliers, and hard equity stops etc... ) will only be offered on the FSB (Global) license for the time being. We hope in due course that we will have it available under both licenses. But out of the gate, it will be regular PAMs on the ASIC license, and the advanced hybrid ECN PAM on the global FSB license.

    Leave a comment:


  • Chubby38
    replied
    Looking on the MTCook website it appears they now have ASIC regulation: "Mt.Cook has received authorization to operate by the Australian Securities & Investments Commission (ASIC) regulator as of April 18th, 2017 via it’s Australian company division MT COOK AUSTRALIA PTY. LTD. (ACN 617 836 558). "

    Can all Forexsignals MAMs now be offered through MTCook Australia route so as they are covered under this regulation? Will there be more funding/withdrawal options now to avoid fees which most of the other brokers offer?

    Cheers
    Chubby

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  • Asad (Reborn)
    replied
    Sounds good, they reduce their minimum investment amount for self-directed traders from $20,000 USD, down to $5,000 USD.

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  • MT.COOK
    replied
    HI Isochronous. We can be flexible on this, but it is based on what you are doing, and the size of your account. Generally we like to keep low leverage on our books, but drop us a note at partners@mtcookfinancial.com and let us now a bit more, and assuming the account is not so large, we can likely extend it.

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  • Isochronous
    replied
    Is the maximum leverage offered by Mt.cook 1:300? Or is it possible to get 1:400 or 1:500?

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  • MT.COOK
    replied
    Originally posted by HedgeBitcoin View Post
    Is there an alternative platform for the master account operating under the PAMM? If not, can the master account trade via api to take advantage of the true ECn environment?
    Hello HedgeBitcoin. Yes this is correct, the master can trade via an API, to completely remove any requirement and inefficiencies with MT4 altogether.

    Leave a comment:


  • HedgeBitcoin
    replied
    Is there an alternative platform for the master account operating under the PAMM? If not, can the master account trade via api to take advantage of the true ECn environment?

    Leave a comment:


  • MT.COOK
    replied
    New ECN Feed and New Hybrid PAM


    Hello Forex Signals Community!

    It’s been a while since we’ve posted however we’ve been fully immersed in a months-long project designed to bring some revolutionary capabilities to asset managers, signal providers and more importantly, their clients and investors.

    Since inception, Mt.Cook has offered a liquidity stream based on an STP model known as “DMA” (direct market access). The DMA feed is an aggregation of many LPs, using xCore technology by PrimeXM, as both an aggregator and bridge. This institutional grade feed has been a true Prime Broker offering to the retail market place, and especially beneficial to large-ticket traders given its exceptional depth of market. The trade-off is that the feed is completely raw, and unfiltered which is a not a bad thing in and of itself but can lead to more erratic spreads during times when liquidity naturally thins out (daily roll-over, news releases). The quotes can also appear sporadic at times as the feed does not “tick” until there is a change in price when they can then often cluster.


    New ECN Feed -– tight and fast!


    We have been working on providing a solution (and alternative) that addresses some of these issues without impacting the positive attributes of the DMA feed that our clients have come to expect; the result is a brand new ECN feed! Spreads are tight, quotes are smooth and steady stream, and execution remains exceptional.

    ---------------
    Here’s a more in depth overview for any “trading nerds” who want to know a little more.

    The ECN platform itself, quite literally, lives in a dedicated facility at Equinix NY4 in Secaucus New York, where it directly aggregates Tier 1 liquidity from major money center banks and venues in addition to non-traditional sources (different from our DMA feed).

    What makes this ECN special, is that it is powered by a unique smart order routing algorithm that rewards and punishes liquidity sources, not only by the most competitive pricing, but also based on the “quality” and “integrity” of the quotes received (such as for key attributes including but not limited to speed and fill rate). It also has the ability to find pockets of deep, hidden liquidity within its network, enabling traders to improve pricing on large orders.
    ---------------

    As proud as we are about the features of the new feed, that’s not the best news


    New PAM Module (with some amazing benefits)!


    The new ECN platform has been customized with a new style of PAM software that we believe will transform the way investors participate in managed accounts, for the better!

    The new PAM module operates almost like a cross between a PAM and a Trade Copier Signal, but without any latency, slippage or complexity often found with signals and trade copying. The client-accounts remain independent, yet all orders go through to the market as one single block; it offers the best of both worlds!
    There are several beneficial features versus our traditional DMA MT4 PAM/MAM model:


    1.) MULTI-CURRENCY:

    The PAM is now multi-currency, and clients can join the same PAM in any of our 4 base currencies offered (USD, EUR, GBP, and AUD -– more to come soon!). Trade settlements are performed at the spot rate.


    2.) RISK PROTECTION:

    Clients now have their own built-in risk protection tool, whereby every client can set a max equity stop loss specific to their own account.

    For example:

    Suppose you invest $10,000 into a PAM where the manager has committed to keeping his drawdown under 10%. You can give yourself a safety net by setting your max equity stop loss to $9,000. Although we all want to trust that a manager will adhere to his/her defined risk management, we have all seen instances in the past where drawdown protocols have been breached.

    If the equity touches your defined stop loss, your trades will be closed and you will be automatically disconnected from the PAM. You will be in control of if/when to connect back to the PAM; the control is entirely in your hands.

    This can also be used as an effective tool to “lock-in” profits. Suppose you are involved in a more aggressive PAM, and the manager generates some solid returns. You can move your max equity stop loss to an amount greater than your initial deposit. This way if the manager hits a rough patch (which is common in more aggressive strategies) your initial capital and some profits are protected; this is like placing a trailing-stop on a winning position.


    3.) RISK MULTIPLIERS:

    Perhaps one of the most advantageous upgrades with the PAM, allows for investors to set their own risk multiplier inside of the PAM. Much like in a traditional trade copier, investors can now receive their money manager’s exact same trades, in any multiplier from 0.1x to 4x.

    Whether you want to scale down the risk relative to your manager (as low as 0.1x) or to increase it (up to 4x), the control is entirely at your fingertips.

    When used in conjunction with the max equity stop loss, it provides investors with complete control over their individual risk management.

    (*Warning – please be careful when using this feature to increase your risk. We strongly recommend not changing your Multiplier without speaking to your money manager first. This is simply to ensure you properly understand how changing these will impact your account, both risk wise, and in terms of required margin).


    New Client Portal


    Access to the ECN is also available through a brand new Client Portal which syncs directly with our ECN, and where you can also access the PAM controls mentioned above. It is provided by a 3rd party, so it may look familiar to some of you who trade at other brokers (though ours has been customized). For the most part however, it is very easy to use and understand and navigate through. In addition to the risk controls mentioned above, clients can open new accounts, view account data, and move money around at will.


    Accessing your account on the New PAM


    As mentioned above, you can now access your account and controls in the new ECN Client Portal. Many of you in the Think Huge PAMs have already been moved over to the new ECN PAM module. Some of you have inquired where your MT4 balance has went? The ECN platform is an institutional clearing platform, and as such, your account is synced directly in to the ECN. Thus, there is no actual MT4 platform for any account, other than your manager’s master account. All of your controls and viewing of trades (both open/floating and historical/closed trades) and account management functions are accessed online (and in much more detail than on MT4).

    You, as an investor, will no longer be required to install and run the antiquated MT4 trading application anymore as a means to monitor your account. You can now access your account from a convenient web-based login from anywhere with internet access.

    We generally recommend that the manager setup a myfxbook for the master account (which will match investor trades exactly with the default risk multiplier) so that this is available for those who wish to view performance via the myfxbook application.


    One final note on the use of PAM "Multipliers"


    Please note, that by default, the Position Multiplier cannot be set higher than 2x vs your Manager’s account. This is simply a safety precaution for your account’s protection and “fat finger” typo mistakes. If you would like your multiplier set HIGHER than 2, please contact us to request this, and we can set this for you. You can of course set this to any value lower on your own, down to as low as 0.1x and there are no restrictions or precautions on lowering your risk.

    Lastly, although the new ECN/PAM is considered far superior technology than our previous PAM (which we had built from scratch and considered it be pretty good at the time) we should add that everything is still intact, and available on the old system (our original DMA feed, and our old MT4 PAM system). We do believe however that the ECN is a huge upgrade to managers, investors, and self-directed traders alike.

    I hope that this helps to explain some of our recent developments and addressed some of the recent questions. We have been very busy with the migration of many client accounts from DMA to ECN so please accept our sincere apologies for any delays in response times over the last week, however everything should be all caught up by now, and fully firing on all cylinders.

    We remain here to help the forex signals community succeed in any way we can, and I wish you all the best of luck in your trading and investment endeavors!

    Warm Regards,
    Gavin Gray.
    Last edited by MT.COOK; 11-07-2016, 07:18 AM.

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  • MT.COOK
    replied
    Originally posted by HedgeBitcoin View Post
    Can we open fix api account with $5k?
    Hi Hedge Bitcoin. On our ECN feed, you can open a FIX API with $5K min. On the DMA feed, this is $100k min.

    Leave a comment:


  • HedgeBitcoin
    replied
    Can we open fix api account with $5k?

    Leave a comment:


  • Isochronous
    replied
    That is a very good explanatory email. Shows good customer service values.

    Leave a comment:


  • Nick
    replied
    Hey guys,

    I just sent Gavin a querie about their reduction in leverage as we head into Brexit. The explanation was so thorough I felt the need to share it here:

    ~~~~


    Hey Nick,

    The leverage essentially determines how much margin you need to put up in order to open/hold your positions.

    So currently your account is at 300:1 and you have 14.04 lots open which is using $6,263.08 as margin.

    If your margin is reduced to 50:1 it means that you will require 6 time MORE margin to hold these same positions.

    So at 50:1 you would be using $37,578.48 of your capital as margin and you would have around $145,400 in "free margin" based on equity of $183,000 in your account.

    Suppose you were at 50:1 and you doubled all your open positions (so you'd have 28.08 lots open), it means that your "Margin" would be $75,156.96 and you'd have approximately $108,000 left in "Free Margin".

    Think of Free Margin as your "cushion".

    If your equity ever gets to 60% of your "Margin" amount then your positions will begin closing (this is called the "stop out level")

    So for example:

    As stated above, based on your current open positions and 50:1 leverage, your "Margin" would be $37,578.48.

    Your equity would need to get to 60% of that figure, $22,547.09 ($37,578.48 x 60%) before your trades would "stop out".

    Based on your current equity of around $183,000 that would require a drop of around $160k before your positions would be forced to close.

    Now if you open more positions then that margin amount increases and your "free margin" (ie. your cushion) shrinks accordingly.

    So even at 50:1 you would still have PLENTY of cushion as long as you don't significantly increase your open positions.

    The risk to us on the broker side is that people load up on their positions (using all available leverage) and even though they technically "stop out" when they hit 60% of Margin, it's possible for the price to gap right through the stop out level and leave the accounts in a deficit position which we owe to our LPs (regardless of whether we're able to collect from the client or not.)

    Although it's not fair to directly compare Brexit to the SNB event (which gapped over 2000 pips in some pairs!), even a 100 pip gap could could result in big losses for brokers with fully leveraged client accounts.

    What some people will do is open an account at Broker A and short sterling while opening another account at Broker B and go long sterling.

    If a broker offers 400:1 and doesn't reduce their leverage then he could technically open 40 lots with only a $10k account. If the price gapped 100 pips short, then his equity on broker A will be $50k and his equity on Broker B will be -$30k.

    Broker B can try to collect the deficit balance (Good luck!) meanwhile he withdraws the $50k from Broker A and is $30k ahead.

    ,This is what we have to protect against and the reason why the leverage is being lowered.

    Sorry for the novel but hope the explanation helps. Just hopping on a call here but will be on later if you need me to expound on anything.

    Cheers!


    ~~~~~~

    It's this standard of service that I keep banging on about with you guys here and why I've got so much of my own money invested.


    Leave a comment:

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