How to select right software for your needs? PowerTradeCopier or FIX API Trader?

PowerTradeCopier or FixApiTrader – which one software do you need?

PowerTradeCopier – trade copier software

powertradecopier softwarePowertradeCopier is useful when you manage several accounts, but you should understand that copier is software which copy already executed trade. It means that trade should be executed on master account first than trade will be copied on slave account(s).

PowerTradeCopier has two modes:

1. Copier mode. This mode is more useful for individual traders and money managers. To copy trades you need to know account number and investor (read only) password for main (master) MT4 account and account number and main password (traders password) for slave accounts. You do not need to install and run Mt4 terminals.

2. Provider mode.  This mode of copier is more useful for forex signal providers. The main difference between copier and provider mode: your clients should run and keep running slave part of copier on their PCs or VPSs, but they do not need to provide you with accounts passwords.They can enter password by they self and adjust lot scaling. Provider and copier mode can be used for copy trades from MT4 to MT4 accounts, form MT4 to FIX API accounts and from MT4 to jForex accounts.

FIX API add-on for PowerTradeCopier

If you need to copy trades from MT4 to FIX API accounts, you need to have FIX API add-on for PowerTradeCopier. You should consider that different FIX API Brokers require different FIX API connectors. We have already implemented: ADSS, ALPHA, BBO, CFH, CMC, CQG, CTRADER, CURRENEX, DUKASCOPY, EXANTE, FIRSTDERIVATIVES, FORTEX, FORTRESS, FXBA, FXCM, FXPIG, HOTSPOT, INTEGRAL, INTERTRADER, INVAST, LCG, LMAX, MATCHTRADE, OLFATRADE, ONETRADE, ONEZERO, PFD, PRIMEXM, SAXO, SMARTTRADE, SPOTEX, SQUARED FINANCIAL, SWISSQUOTE, TT, VISUALTRADING, XENFIN FIX, Price Markets connectors.

You need to check with your broker what kind of bridge they use. For example a lot of forex broker use PrimeXM bridge or One Zero bridge and for this reason you we already have ready to use connectors. If you did not find your connector in our list- it is not a problem at all – we will program connector for you for reasonable extra fee. Read more about PowerTradeCopier

FIX API Trader – software for trading on FIX API Accounts manually and with MT4 EAs

fix api traderFIXAPITrader is more useful software for individual traders who looking for fastest possible execution and lowest slippage for his trading system. If you have Expert advisor and would like to use it on FIX APi account – this software for you. FIX API Trader for automated trading works in two modes as well: Mode 1 when your MT4 terminal receive feed from FIX API provider and your EA sends orders directly to FIX API account when MT4 EA generate trading signal. It means that software will not wait when order will be executed on Mt4 terminal, but will send order immediately. Execution time in this case depends only from your FIX API broker execution time and can be between 4ms (LMAX) and 100ms.

For this mode, you need to have source code (mq4 file) for your expert advisor and additional coding requires. You can use all benefits of FIX API trading like FOK and IOC orders etc. Mode 2 when you MT4 terminal receive feeds from MT4 server, and your EA sends orders directly to FIX API broker when order generated by MT4 EA is executed by Mt4 terminal. Usually it is the best way to use Mt4 demo account with fast execution. In this case your execution time will be higher then for Mode 1 on 30-50ms. For this mode you do not need to have source code for your MT4 EA. FIX API Trader for manual trading has a lot of per-adjustable features. Read more about FIX API Trader