ForexMeta

[JimGoose]

EDIT: I reinstalled my platforms, and reinstalled faptrubo 16, attached several pairs and today it made about a dozen trades for $68 in profit in a $500 demo deposit, one floating trade is at -$16 though.

Whatever I did seems to have made it work again, so disregard the below statement:

OLD: I don't recommend using ForexMeta with FAPTurbo... even though the developers suggest it (they suggest and advertise it because they get kick backs from them like someone here mentioned)

I believe the spreads are so high that FAPTurbo will not do any trades with it. But try yourself with a demo account like I did, it just won't do much on the scalp settings.

still looking for a good place to test FAPTurbo out...

[alan]

Hmm, yeah ForexMeta is an IB for FXDD from what I hear so the spread is typically 1 pip higher than FXDD's. Fapturbo should still open trades though...it all depends on how wide the spreads get as I believe fapturbo has a spread proction mechanism in place.

I trade both demo and live on ibfx, but I'm probably going to move on to a ECN broker that offers MT4 price feed because there the spreads will be even lower.

[Anton]

I don't recommend using ForexMeta with FAPTurbo... even though the developers suggest it (they suggest and advertise it because they get kick backs from them like someone here mentioned)

I believe the spreads are so high that FAPTurbo will not do any trades with it. But try yourself with a demo account like I did, it just won't do much on the scalp settings.


My scalper made +50 pips in one night on two pairs on ForexMeta without any problem... their spreads seem quite reasonable to me.

[Jer]

Forex Metas spreads are 1 pip higher than FXDD, but I have been using them on a demo account all week and they are taking the same amount of scalps as IBFX. There spreads are still a little better than IBFX,

[JimGoose]

really? hmm... maybe it's something on my end.

i think i'll start another demo account and give it shot when markets open. does anyone know how i can reset/change my demo balance without going through a new account process?

[swagman]

Good to hear Anton. Thanks for your comment.

[Short14]

My account over doubled in 5 days using Forexmeta

[dcrowley06]

My account over doubled in 5 days using Forexmeta

There is nothing wrong with Forexmeta at all that I have seen. I just know that they are always 1 pip higher than FXDD on every single trade because they just push to you the FXDD feed and tack on the extra pip to whatever number is displayed.

So instead of sending the money to ForexMeta and letting them buy that new car that we are all looking at getting, it will stay in your account and you will now compound on that additional money over time. It wouldn't have tripled your account this week to save 1 pip per trade, but it would definitely add up over time.

Of course, like I have said before, I have nothing against Forexmeta, but your pip spread goes through the following process to get to you (at least this, if not more):

liquidity broker spread --> (...possibly... ECN broker spread) --> FXDD Retail broker spread --> ForexMeta affiliate broker spread --> you.

Any middleman that you can remove is a good thing. :)

[swagman]

I reside in Australia and will probably use Meta for brokerage. Anyone know if they will be able and willing to do wire transfer back to Australia when profits have accumulated enough to do withdrawals? Has anyone had experience of this with Meta? Please advise.:)

[Anton]

I reside in Australia and will probably use Meta for brokerage. Anyone know if they will be able and willing to do wire transfer back to Australia when profits have accumulated enough to do withdrawals? Has anyone had experience of this with Meta? Please advise.:)

Wire transfer fees are outrageous... why don't you use PayPal? ForexMeta works with it. Just withdraw to your PayPal account, and then withdraw from PayPal directly to your bank account; it's free for withdrawals > $100.

[alan]

Wire transfer fees are outrageous... why don't you use PayPal? ForexMeta works with it. Just withdraw to your PayPal account, and then withdraw from PayPal directly to your bank account; it's free for withdrawals > $100.

You can withdraw to your paypal account?? :confused: I though that FXDD allowed only deposits via paypal, not withdrawals...

[Anton]

You can withdraw to your paypal account?? :confused: I though that FXDD allowed only deposits via paypal, not withdrawals...

Yes, Alan, you can. Just check the withdrawal form:

http://www.fxdd.com/fileadmin/template/main/downloads/pdfs/en_US-funds_redemption-fxdd.pdf

- you see the PayPal withdrawal option there.

But you can only withdraw to PayPal if you FUNDED by PayPal, too. And you still need FAX them this form, not just click on a button...

[alan]

Neat! Thanks Anton.

[JimGoose]

Sorry everyone, seems i've solved my forexmeta troubles. Also added the new info to the top of the thread.

[verbtheory]

Hey Anton, have you had any issues withdrawing money using this method with ForexMeta? Also how long have you been using them?

Thanks


Wire transfer fees are outrageous... why don't you use PayPal? ForexMeta works with it. Just withdraw to your PayPal account, and then withdraw from PayPal directly to your bank account; it's free for withdrawals > $100.