Is any one here using MYFX

dineshameh

Recruit
Messages
4
Hi is anyone here using the MYFX tool for trading i heard lot of good comments about it. Can some one guide this newbie...
 

Pharaoh

Colonel
Messages
19,840
Are you talking about the trading platform from MYFX.com or something else?

It claims it can be used with any MT4 broker. I'd be worried that MetaQuotes may declare this to be an "illegal hack" and issue a new release of their server software specifically designed to be incompatible with it.
 

GrahamB46

Recruit
Messages
3
I have used it for quite a while in demo mode. It is excellent as a means of controlling partial closes, moving break-even and stop-loss levels, and for trailing stops.

I know it is offered by a number of brokers, and consider it unlikely to be a treat to Metaquotes, as it works in parallel with MT4, without affecting its functionality.

I will shortly be moving to a funded account, and the two important 'needs' I am checking out at present are:
1. Availability of VPS (or perhaps Online Cloud as suggested on this site), and
2. Availability of MYFX - It seems a bit dear to get a personal licence!
 

Pharaoh

Colonel
Messages
19,840
Other things worked with MT4 and MQ went after them. Unless MQ specifically states that it's licensed, I'd be nervous about whether or not it will keep working in the long run.
 
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