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_Vincent]

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]

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_Vincent]

Edward,

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

Vince

[fxscalper]

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_Vincent]

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]

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

Are you IB's of GAIN Capital?

[LonelyTrader]

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]

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_Vincent]

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


Vince

[lavalamp]

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

[jstockman]

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


I current use EFX Group and was ready to buy the lifetime license for Ninja. However, now that I understand EFX Group, which is a subsidiary of MBTrading, is not supported, I have to wait.

jstockman:)

[vlc]

I would be very pleased if NT and OandA.com could work together. What would be required to make this happen? Is it something we (the user comunity) could develop?

[NinjaTrader_Ray]

Hi,

Thanks for posting. Adding brokerage interfaces is something that can only be done by NinjaTrader internally. Any interface we do is based on many factors including customer demand. I will add OandA to our list of future possible interfaces.

[KBJ]

I currently use EFX Group and was ready to buy the lifetime license for Ninja. However, now that I understand EFX Group, which is a subsidiary of MBTrading, is not supported, I have to wait.


I just checked out EFX and I'm very impressed. Is it really that hard to add another Forex provider?

I would prefer to pay NinjaTrader for their services rather than having Gain (or someone else) do it for me.

A couple of last questions:

1) Does NinjaTrader have an exclusive contract with Gain?
2) If so, will that contract ever expire?
3) If not, is NinjaTrader making so much from Gain, that they're willing to send a lot of us elsewhere for a trading platform?

I've spent several months learning NinjaTrader and how to program it. I would really like to be able to connect to a different Forex provider than Gain. Please add EFX.

How about creating a survey on this forum to see how many others are of a similar frame of mind?

KBJ

[PrTester]

You got my vote on the survey!

[NinjaTrader_Dierk]

We are looking into other FOREX options. We will make announcements as appropriate.

[KBJ]

I just brought up $GPDUSD on the Dynamic SuperDOM and it shows a 5-pip spread, and for the $EURUSD its a 3-pip spread.

So if I buy at market and sell at market, thats 10 pips lost for the pound and 6 pips lost for the Euro.

This seems like way too much to me.

I looked at EFX and they charge a fixed 1/2 pip commission but don't add anything to the spread. Zero. Nada. So that's like a 0.5-pip spread.

Gain Capital's web site claims to have spreads as low as 1.5 pips for EUR/USD. Since the best case in the market is no spread (where bid=ask), then this suggests to me that Gain is charging at least 1.5 pips for their services.

Clearly this makes it harder to develop a winning strategy.

EFX also allows clients to use "Micro" order size increments, which means we can place orders down to a $1 increment (whereas mini's are at $10 increments and full lots are at $100 increments). This would be real good for final testing on a strategy, since then we can do real, live testing, but with 10X less risk than on Mini lots and 100X less than on standard lots.

I really like the NinjaTrader platform, and have spent several months familiarizing myself with all of its features and benefits, learning all the ins and outs, but these are features that I cannot program around.

Best regards,

KBJ

[NinjaTrader_Ray]

Thanks for your comments adn suggestion to support EFX. Its on our list for future consideration.

[ali_chambers]

I'm with everyone on this thread. I think NinjaTrader is a brilliant piece of software - but I'm going to cancel my licence because of the lack of FX broker support.

Alex

[Rollins]

Just to give you guys more incentive to support EFX, I'll add my vote here.
I've chosen EFX as my broker as well, execution platform is not a major factor in chosing a broker since I am trading discretionary at the moment.

However it would be so much better if EFX was supported by NT because as a programmer I love your platform while I am not so convinced of EFX's(MB fX). And I'll buy a license to support further development and give something back to NT as soon as my trading allows it.

Many thanks cheers.

[Gains]

I agree totally with the comments of this thread. Having NinjaTrader locked into only Gain Forex is a big mistake. I appreciate that you might be under an exclusivity contract with them and if so I hope they paid you handsomely. But I also hope that soon you will be able to offer a quality Forex broker.

I worked with NT6 while still in beta and really grew to appreciate the program. Unlike some charting packages that seem to evolve in a helter skelter fashion and lead to confusing and inconsistent interfaces NT6 seems to be very well thought out and shows good software design practices.
I was intending to trade futures and forex with Ninja but when I discovered that my current broker IB was not supported for forex I stopped wasting any more time with Ninja. I love the program but it is useless to me until you make it an open platform for forex trading as well.
I hope that happens soon.

BP

[NinjaTrader_Chris]

Hello,

Thank you for your suggestions and comments. I will forward them to development and have them add them to our future enhancement list.

[cattus]

Hi,

Thanks for posting. Adding brokerage interfaces is something that can only be done by NinjaTrader internally. Any interface we do is based on many factors including customer demand. I will add OandA to our list of future possible interfaces.

Hi NinjaTraders.

When could we have the access to Oanda? Could be it access at tick level? If not, could we have access to other tick forex source (free data)? It could be excellent, because NinjaTrader works vey good.

Thanks.

[NinjaTrader_Dierk]

>> When could we have the access to Oanda?
Unfortunately there is nothing scheduled yet.

[cattus]

>> When could we have the access to Oanda?
Unfortunately there is nothing scheduled yet.


Hi NinjaTrader_Dierk.

Thanks for your prompt response.

I know that we can have access to forex data if we suscribe to services like eSignal or IQ, but I will appreciate if you inform us by this via when Ninja has access to:
- Oanda data, or
- forex data (free).

Regards.

cattus

[NinjaTrader_Dierk]

- Oanda, no
- Forex.com, yes I you have an account with them (which basically is GAIN)

[In2Blues]

I had heard good things about NinjaTrader, so I downloaded it to test.

However, I was severely disappointed to find such lack of support for Forex brokers. Unfortunately, this lack of support has caused me to remove NinjaTrader, as it is useless to me at this point.

I, too, use EFX and Oanda. If and when these brokers are supported, I will be more than happy to buy a licence. Hopefully, this support will come quickly, as you are currently alienating a HUGE group of potential customers.

Terry

[NinjaTrader_Ray]

Thanks for taking the time to post.

[trialnerror]

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

I just download Ninja and it seems great, but as others have said here (I read the thread), no way I can use it until it supports EFX. And please listen carefully Ninja! EFX! Not just MBTF! MB Customer Support is awful, we want EFX!

[NinjaTrader_Chris]

Hello,

Thank you for your suggestions. I will let development know about them.

[Syafi]

I use NinjaTrader for my live EFXgroup Forex Trading.
Here i have posted how I set it up to work.

the only thing is you can only use MBT Navigator from within NinjaTrader to trade, but you can still use the charts which is a huge advantage. as I usually use tick chart and 5 second chart.

Here is the link to anyone want to setup their NinjaTrader to use with EFX/MBT Forex Trading. http://www.cyrox.com/forum/index.php?topic=8.0

[ryker]

Another vote to add support for different fx brokers.
I live in Guernsey (UK) and because of the FSA regulation I can't even open an account with forex.com, I have to open it through Tradestation!
I use Oanda but willing to open an account with EFX group if it's supported.
Will probably try Syafi setup.

Thanks

[vlc]

What determins whether or not you eventually integrate with OandA?
How do you decide if to support OandA or not?

[NinjaTrader_Ray]

There are many variables that are considered but at the top of the list, customer demand and other commitments and projects that we work on.

[vlc]

OK, so would you say that customer demand for integration to OandA is high or is it low?

[NinjaTrader_Ray]

I generally do not publicly comment on our market analysis. I can say it is on our list for future possible enhancements as it has been requested in the past.

[DrDeath]

Hi,

I am also very interested in using NT with EFX/MBT, could you please post an update if possible, on whats happenning with EFX support, what stage you are at and if any beta will be available soon?

Thanks!

[NinjaTrader_Ray]

The current NT 6.5 Beta supports MBT and EFX and is available for download in this forum. This is temporary support and we are not sure if it will be officially released or if we will support EFX and MBT only etc...

[DrDeath]

Thanks a lot! Will give it a try today!

[ryker]

Are all Ninja Trader's functionalities supported with EFX (possibility to trade via a strategy)?

Thanks

[NinjaTrader_Ray]

That is correct.

[Rollins]

Excellent feature, the feed from MB FX is working really well.

So all I would need if I am running 6.5 is a valid license for MB trading to execute through NT for MB FX without utilizing the navigator?

[NinjaTrader_Dierk]

That is correct

[ryker]

Excellent feature, the feed from MB FX is working really well.

So all I would need if I am running 6.5 is a valid license for MB trading to execute through NT for MB FX without utilizing the navigator?

Hi Rollins,
Is there any historical data available in case of any gap?

Thanks

[NinjaTrader_Ray]

MBT does not support historical data at this time. It is something they are going to add soon. I don't have an ETA.

[NinjaTrader_Ryan]

Hello Ryker:

eSignal and DTNiQ provide historical forex data that can be used with NinjaTrader 6.5.

We have a special datafeed discount through eSignal that can be used exclusively with NinjaTrader. I have included the link below:
http://www.ninjatrader.com/webnew/eSignal_Special_for_NinjaTrader_August_2007.pdf

Best regards,

[Rollins]

Yep, unfortunately no historical data. DTN hasn't got TDFX as a data feed, only eSignal does. I'm thinking of dropping eSignal since I don't need a lot of historical data for short term trading.

I am also getting a lot more ticks through MB FX.

[darko80]

Hello and Thank you for this new (beta) version that allows us to use charts with MBT feeds. We're waiting for it for a long time ;) I read you didn't know if you'll put this feature in the final NT version. May i know the reason? Is there any issue?
A lot of people will be happy of this new version and (in my case) i'm ready to buy a valid license.

We need your help! :rolleyes:

Thank you

[NinjaTrader_Dierk]

>> that allows us to use charts with MBT feeds
To clarify: Since NT5 you could chart with MBT data feed. Just FX instruments have not been supported on MBT.

[darko80]

Sorry i didn't say about the specific instruments :) yes i refer to Forex ones.
Thanks again

[Rollins]

The current NT 6.5 Beta supports MBT and EFX and is available for download in this forum. This is temporary support and we are not sure if it will be officially released or if we will support EFX and MBT only etc...

I am happy with the MBT FX implementation and considering to go live with NT soon.
Any update on if MBT FX will make it into the official release?
If I decide to stay with the beta will live trading still be possible once newer versions are available?

Thanks.

[NinjaTrader_Ray]

No decisions have been made at this time.

[NinjaTrader_Ray]

We have made a decision to support MBT/EFX for FX trading.

[darko80]

We have made a decision to support MBT/EFX for FX trading.


Thank you a lot!!!

You just made me really happy :D

[Rollins]

Yippie, thanks heaps :D

[KBJ]

Thanks and congratulations on an important addition to an already valuable product.

[linuxtroll]

When? Any target dates? this year? next year?

[NinjaTrader_Vincent]

V6.5 will have this included. No release date has been set yet. It will be this winter though.



Vince

[NinjaTrader_Ray]

It is already available in our existing beta release downloadable in this forum.

[ryker]

Thanks, great news!
I'll open an account with EFX soon :D

[amenlo9]

hi,is it possible NT will support Dukascopy?

[NinjaTrader_Ray]

As I always say in life....anything is possible! I will add this as a request for future consideration.

[ssierra]

hi,is it possible NT will support Dukascopy?

Another vote for them!

[cls71]

Another vote for them!

Another vote :)

[hanzahar]

will be cool if NT supports Currenex FIX

[NinjaTrader_Jason]

Hello hanzahar,

I will forward your suggestion to our development team and ask them if they can add this to the list of future considerations for the software.

Thank you for your feedback.

[b-rock]

Are there any plans for Ninja Trader to add other forex brokers in the future?

MBT is great for those in the USA and the province of Ontario in Canada.

Unfortunately, I live in a different province of Canada and would like an alternative to GAIN.

Thanks,

[NinjaTrader_Ben]

Hello,

These are the data feeds we support. You can see which ones support FX:
http://www.ninjatrader-support.com/HelpGuideV6/HistoricalData.html

We are always expanding our data providers list over time.