It's been quite a long wait, but Alpari UK have announced today that they are now the second broker to offer automated spread betting using the MetaTrader 4 platform to UK residents. According to their news release:
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Following on from last week's announcement of their deal with Alpari (US), I spoke yesterday with James Friedman, who is Chief Operating Officer of FX Bridge Technologies Corporation. Our talk was largely concerned with how FX Bridge got to where they are today, that deal with Alpari, and the future for OTC FX options in general, and FX Bridge in particular.
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In the first of our series of interviews with senior figures from the Forex industry following the release of the final version of the new CFTC regulations, I spoke yesterday with Daniel Skowronski, recently installed Chief Executive Officer of Alpari (US) as well as Chief Commercial Officer of the Alpari Group. Daniel was also Managing Director of Currenex before moving to Alpari. I started off asking the question on everyone's lips these days about the effect of the new regulations on retail forex in the US, including their impact on introducing brokers. We then went on to discuss Alpari's plans to broaden the range of it's product offerings, whilst also expanding into new areas of the globe.
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I've just received an email from Alpari (US) informing me that they will be demonstrating a new retail FX Options platform at the Las Vegas Futures and Forex Expo at the end of this month, where Alpari are the "platinum" sponsor. It seems the new platform is being provided by FX Bridge Technologies, and is presumably a white label flavour of their ProTrader Plus platform.
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MetaTrader 5 has been in beta testing by traders around the world for well over 6 months now. In an indication that there might at last be a glimmer of light at the end of the long testing tunnel Alpari UK are now publicising the fact that you can download MetaTrader 5 from their website, and thus open an account with them. It's only a demonstration account at the moment of course. Alpari don't say when a real live MT5 account will be available from them. A few more months yet I suspect. Alpari do say this however:
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The recent introduction by Alpari UK of "interbank spreads" on their MetaTrader 4 demo accounts has given us the perfect opportunity to demonstrate one of the potential problems you might encounter using the MetaTrader 4 strategy tester to evaluate a forex trading strategy you have developed for yourself, or even bought off a virtual shelf. Our regular readers will know that we have performed numerous live tests and backtests on the Forex MegaDroid "robot". Today is a Saturday, so I had a few minutes spare to run yet another backtest on the Droid. I started the simulation on March 30th 2009, the date the Forex MegaDroid team launched their creation amid great fanfare, and finished it yesterday evening. Here's what the Alpari UK MetaTrader 4 demo strategy tester showed me:
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Here at the Trading Gurus we are constantly monitoring the quotes from a wide range of brokers. Yesterday alarm bells started ringing to tell us that the spreads on one of our MetaTrader 4 demo accounts at Alpari UK had suddenly reduced to previously unheard of levels. Spreads as low as 0.4 pips on GBP/USD for example, and once (briefly!) even zero on EUR/USD.
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Alpari UK have just announced that as long as you have at least 20,000 US dollars to spare you are now able to use it to fund a shiny new Alpari Pro account. Demo accounts are available of course, just like in the United States and Russia, but Alpari UK are more than happy to let you open a real account with real money too, as long as you don't reside in the US or in British Columbia that is. Here's how the announcement put it:
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Following the lead of their Russian cousins Alpari US announced yesterday that they too are now:
Pleased to introduce FX traders to our two new trading platforms, Alpari Direct and Alpari Direct Pro.
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The long wait is over! You can now download the first publicly available version of the MetaTrader 5 client terminal from the MQL4 forum.
Unfortunately it sounds as though you'll have to wait another 6 months before you will be able to use it in anger on a live account. "The nearest future" that Alpari Russia were talking about last week doesn't mean this week or even this month as far as demo accounts are concerned. A live account certainly sounds as though it won't be arriving until some time next year.
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