I've tested quite a number of expert advisors with a number of different brokers during the last 3 years of my forex trading career. As most fx traders who finish up reading this piece almost certainly know EAs work better with some fx brokers than others. So when buying an Expert Advisor you must also make sure that you decide on a forex broker that the EA works well with.
On the list of the newest EA's on the forex market is StatArb Pro. I first discovered this EAs about one week ago after following a thread in a forex community forum. What is different about this Expert Advisor is that it works best with fx brokers who have allot of pairs, the reason for this is because this particular EA produces signals on the majors and also exotic forex pairs.
Naturally when an Expert Advisor creates signals over so many pairs it is imperative that you are dealing with a forex broker that offers all of these forex pairs. But if your broker doesn't provide each of the pairs needed for the EA to function properly the hard earned cash which you used up buying your Expert advisor may just go to waste as you'll be missing out on money making chances in the market.
Certain fx brokers are actually not capable of managing EA's as their prices are too wide, deal execution too slow and they have too few currency pairs. Fortunately there are however some providers like IC Markets who have custom made their Metratrader 4 trading platform to suit EAs like SatArb Pro. Dealing with a fx broker like IC Markets is absolutely vital when it comes to EA trading as more often than not they would have to test all the preferred EAs on their platform to ensure they function well providing you with the best possibility of success.
Personally I've trialed a couple of forex brokers with the StatArb Pro EA and have encountered difficulties with some of them due to the fact that they a limited number of pairs. As IC Markets is the biggest forex broker in Australia they have the largest range of currency pairs on their Metratrader 4 platform so StatArb Pro works well. Traders also have a huge cost advantage when using this EA with IC Markets as their spreads are the lowest out of all the Australian based brokers and arguably also the lowest in the world. Take EUR/USD for example, IC Markets average spread on this currency pair is only 0.1 of a pip, most brokers average spread on this pair is 0.3 pips.
On the list of the newest EA's on the forex market is StatArb Pro. I first discovered this EAs about one week ago after following a thread in a forex community forum. What is different about this Expert Advisor is that it works best with fx brokers who have allot of pairs, the reason for this is because this particular EA produces signals on the majors and also exotic forex pairs.
Naturally when an Expert Advisor creates signals over so many pairs it is imperative that you are dealing with a forex broker that offers all of these forex pairs. But if your broker doesn't provide each of the pairs needed for the EA to function properly the hard earned cash which you used up buying your Expert advisor may just go to waste as you'll be missing out on money making chances in the market.
Certain fx brokers are actually not capable of managing EA's as their prices are too wide, deal execution too slow and they have too few currency pairs. Fortunately there are however some providers like IC Markets who have custom made their Metratrader 4 trading platform to suit EAs like SatArb Pro. Dealing with a fx broker like IC Markets is absolutely vital when it comes to EA trading as more often than not they would have to test all the preferred EAs on their platform to ensure they function well providing you with the best possibility of success.
Personally I've trialed a couple of forex brokers with the StatArb Pro EA and have encountered difficulties with some of them due to the fact that they a limited number of pairs. As IC Markets is the biggest forex broker in Australia they have the largest range of currency pairs on their Metratrader 4 platform so StatArb Pro works well. Traders also have a huge cost advantage when using this EA with IC Markets as their spreads are the lowest out of all the Australian based brokers and arguably also the lowest in the world. Take EUR/USD for example, IC Markets average spread on this currency pair is only 0.1 of a pip, most brokers average spread on this pair is 0.3 pips.
About the Author:
I have personally used IC Markets demo and live accounts for the past two years out of the 3 years which I have been trading for and I am reasonably happy with them. IC Markets are without a doubt the broker of choice for EA trading and the very best forex broker by a long shot if you're planning on using them with the StatArb Pro EA.
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