Is Your MetaTrader Expert Advisor About To Break?


I was browsing the MQL4 forum in the hope of discovering some more news about the apparent delay in the release of MetaTrader 5 when I beheld a surprising sight. In a banner across the top FXCM were promoting their UK operation once more. This time they were being terribly blunt. It's a question we have asked here at the Trading Gurus several times, and here is how the FXCM marketing machine expressed it:

Is Your MT4 EA About To Break? If you're trading through a U.S. regulated firm, your MT4 EA may stop working after July 31.

I clicked on the bright orange "Learn More" button in the hope of learning more, and I discovered that according to FXCM:

To date, we have received no indication that the MT4 platform will be able to be modified to comply with first-in-first-out execution without significant loss in functionality. We believe this would cripple the operation of many expert advisors resulting in a much less robust platform.

You heard it here first, but I for one certainly didn't expect to hear that same message trumpeted quite so loudly from one of MetaQuotes own sites.  Heaven only knows what the NFA will make of all this after their recent diatribe to their members asking them to:

Please ensure that neither your employees nor any firms or individuals that introduce forex business to or manage forex accounts carried by your firm are spreading misleading information about the effect of Compliance Rule 2-43.

together with dire threats of :

Enforcement action against any FDM with an introducer or account manager that initiates, spreads, or condones statements that convey false information.

One can only assume that FXCM take the view that they are not misleading anyone with these carefully considered conclusions about the FIFO fiasco..

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