My Useful toolkit for automated trading with MQL4 and Metatrader
Okay I like to use RoboForex because I do trade MetaTrader 4 systems and also MQL5 systems for MetaTrader 5, but I don’t want to have all my money in a broker’s account. Last month, I opened a new account and so 100 Euro account becomes 10,000 Euro. These Cent accounts make my trading very scalable because as I said before, I would need to have 200 Euro to trade a single micro-lot and right now, I do trade 27 different currency pairs with 100 dollars.
To fund the account, I use a payment provider called Skrill.com. Skrill allows you to send money. You can do real time transfers without any additional fees. That means in June, I was able to fund my RoboForex account without giving my broker direct access to my bank account. Another good thing about RoboForex is that I also could transform my Fix-Cent account into a swap-free account. That means I do not have to pay any swap fees for positions I hold over night but they charge a commission instead.
The other broker I really like is ForexTime because they open swap free accounts for everybody. You pay a one-time commission when you close a trade and it’s 7 percent of the win. That’s much cheaper than anywhere else. And it’s exactly what I needed for my automated trading systems.
If you are looking for your broker with the best conditions for your system, you might want to start at ForexPeaceArmy.com. They have lots of reviews and it’s a good start to find out if what you are looking for is available anywhere. And if you need back testing data for your back tests, you can download it for free on histdata.com. All the currency pairs I trade are available for free download here. Okay, that was basically my toolkit.