Support for EFX brokerage

[eudamonia]

I would really love to see support for EFX since they are a sister company to MB and work off of essentially the same environment. Any chance of that happening?

Edward

[NinjaTrader_VinceB]

imported post

Hi Edward,

At this time we only support GAIN for Forex.

However, if you have an account with GAIN, you can trade Forex for free with NinjaTrader.

Vince

[eudamonia]

imported post

Vincent,

I understand that you only support Gain at this time. However, for short-term trading a fixed spread broker like Gain is simply not feasible. I have several scalping systems that rely on the fact that Iaverage a2 pip spread (round-turn)on the GBPUSD and having reasonable good market depth (for Forex) is also critical to my decision making. In comparison the spread on the GBPUSD for Gain is 4 pips round-turn. This may not sound like a big deal, but when you're scalping for 5-10 pips the difference in cost can be nearly 50% of your net profits.

Since nearly all the traders I know who use NinjaTrader utilize it (at least for Futures) where execution is critical, I strongly believe that it would be in NinjaTrader's best interest to support a Forex broker that is not fixed spread.

Please consider this as an additional functionality in the future. Thank you.

Edward Heming

[NinjaTrader_VinceB]

imported post

Edward,

Thank you for your feedback. We will take this in consideration.

Vince

[fxscalper]

imported post

I was informed by someone at MBT that Ninjatrader works with MBT for forex spot. Now I see this thread. So does it or does it not work with MBT/EFX for forex spot?

Why is this misinformation going around?

[NinjaTrader_VinceB]

imported post

Hi,

I don't know who told you that you can use MBT forex with NinjaTrader, but we only support GAIN Capital for Forex. MBT is not supported for Forex.



Vince

[fxscalper]

imported post

Are there any realistic plans to support EFX? If yes, when?

Are you IB's of GAIN Capital?

[LonelyTrader]

What were you thinking?

Hi Edward,

At this time we only support GAIN for Forex.

However, if you have an account with GAIN, you can trade Forex for free with NinjaTrader.

Vince

This broker is almost a perfect mismatch for NinjaTrader. And the guys in the sales department didn't do their due diligence on the reputation of Gain -- which is just a notch above bucket shop. And to think that a serious trader would choose a broker based on the charting platform alone?

If NinjaTrader is interested in catering strictly to hobby traders, then I must have overestimated NinjaTrader. (Nothing wrong with hobby traders. We all start somewhere. But why leave the rest of us out?) When someone with some decision-making power -- and an adequate understanding of the potential of spot FX -- wakes up, please pass on this message:

If NinjaTrader wants to ride the spot FX train, they need to consider the needs of active FX traders in the same way they consider active futures, index and equities traders. To ink an exclusive agreement with GAIN for FX was a horrible, horrible misstep.

I am very, very disappointed. I know you could come back with a raft of corporate-speak about synergy, partnerships and that white-washed managerial drivel. I've heard that crap before. This is not the time for obfuscation and formal niceties. You guys just need to acknowledge the mistake, take your lumps, and shift your priorities a bit.

Guess I'm stuck with NeoTicker for my order interface for now -- which is another disappointment, but at least they know how to cater to active traders with serious broker/dealers. I would consider using NinjaTrader for my order interface through NeoTicker. (Talk about synergy!) But over half of my trades are in spot FX -- so no joy there either.

Cheers,

LT

[NinjaTrader_Dierk]

Thanks for sharing your thoughts. Feedback like that is always appreciated. We will make announcements if there are more FX providers available/supported with NT.

[Gumphrie]

I agree, a better Forex option would be ideal. I'm trading currency futures on NT via FB because I don't want to go near Gain. FB provides DMA, good spreads and is tax free if you're from the UK. However, the currency futures are limited to CME USD crosses only - a bit tricky if you want to avoid correlation. Hopefully FB will provide Euro crosses soon. The other problem with Gain as well as the high spreads, the spreads are not fixed for those 'high volatility' periods. You can't have everything, but you should at least be able to choose from either high fixed spreads or low unfixed / real market ones.

[milliehandshrimp]

Me too

I've been playing around with NT and I love it. The programming is easy and it has a lot of great features. It is perfect for what I want.

I was ready to drop down the $900 or so for a lifetime license but then I saw it only does forex with Gain; that was a deal breaker.

Someone here mentioned that the reason is because of an exclusivity contract with them. Is that true or just an accusation?

If it is true, I hope there is an expiration at some point, or some other way you can get out of it. NDD trading is becoming more and more popular in the forex market, and Gain certainly does not qualify as one of those.

Anyway, I know your business is not a democracy, but I thought I'd throw my vote in for expanding your account options. Hopefully after some trend analysis, you'll eventually change your minds.

-MH

[NinjaTrader_Dierk]

Thanks for feedback. We will make announcements if there are more FX providers available/supported with NT.

[sragone]

You say that you support MB Trading through this link:

http://www.ninjatrader.com/webnew/support_MB.htm

[NinjaTrader_VinceB]

That is correct. We support MBT, just not for FX


Vince

[lavalamp]

Efx

I also would become a NJ customer if EFX was supported. I note that NeoTicker does and may be heading that direction instead.