OmniTrader Professional Forum - Integrated Brokerage
Please Nirvana, we need more forex brokers.

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Sergey

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Subject : Please Nirvana, we need more forex brokers.
Posted : 3/5/2016 5:46 PM
Post #25024

Just want to bring up the subject of support for additional forex brokers again. I see people on this forum asking for this since at least 2008. Each time Nirvana answers "it's just a matter of time". So far no improvement has happened, things become even worse - only one broker is currently supported.
When I started trading forex I chose Nirvana and OmniTrader Pro because of the possibility of automated trading. I spent $2000 and a few years to learn the software and write my system on this platform. I was happy to use omnipilot with MBTrading but now it was bought by TradeKing, which is not supported by Omnitrader. Please understand my situation - I have an excellent software that I like, the perfect trading system, but I can not trade, it's useless without broker support. Is Omnitrader a trading software or what?. If yes why it can not work with the broker of my choice? I can not move to IB because of their requirements. IB is just not for everyone.
Nirvana offered me to buy visual trader which has integration with the TradeKing. But this is not the same. How can I use all this 3D pictures in forex trading? Why should I buy the expensive program which I do not need? The best way - offer a trial of visual trader to all MB/TradeKing customers until you have finished the integration of TradeKing into Omnitrader. Maybe some of us will like this program and buy a license.
Nirvana is focusing on making profit on existing customers - constantly releases upgrades, plugins. This is not a step forward, it can not be forever. That's ok, but what about new customers? You have to sell us 10 upgrades to get the same profit as the one Omnitrader Pro license. Imagine that I'am a potential customer, looking for a software for the development of my system and automation of trading. I will be interested in your program but do not buy it because it does not support my broker. I'll buy NinjaTrader because of many brokers support and price is twice cheaper than Omnitrader and I see their name every time I login to my broker web site. Of course Omnitrader is better regarding the development of trading systems and testing, but how many people know this? Why not to do like NinjaTrader and many others? Talk to brokers, place your banners on their sites. They may offer Omnitrader as an advanced trading platform with the possibility of testing and automation of trading in addition to their own platforms. Brokers have a huge customer base and they do not want to invest in the development of advanced technical analysis programs. Who is your customers? - Traders. Where are all the traders? - At brokers. Just think about it.
I believe that Omnitrader/Visualtrader is already good enough as a technical analysis tool, as a prospecting tool, enough plugins and strategies.It is already unique software but it is nothing without the ability to use all of these capabilities in real trading. Let's put all resources on the improvement of what we really need and ask for many years- the stability and support of brokers. I know about plans to add support of TradeKing into Omnitrader but it still not enough. We need a choice. Let's make a poll among customers about which brokers we want to see in the Nirvana software. I would like to see FXCM and Forex.com in the brokers list. If you are able to integrate TradeKing into VisualTrader why not to add support of forex.com? As a computer engineer and a customer of both companies, I understand that they share the same platform, one server and one API. FXCM provides API compatible with .net(compatible with Omnitrader) and they are a data provider for the iqfeed, so we can see exact same prices in Omnitrader and in broker terminal. It would be perfect combination.
The stock market is popular only in US, in the rest of the world forex is most popular market. Forex trading is completely different from trading in the stock market. This market is moving so fast that while you switch between windows, you can lose 5-10 pips. All possibilities of complex tradeplans become useless in manual trading on fast moving market. Forex is open 24 hours a day, so how to trade at night? We really need automation. It seems that Omnitrader is for small group of people who trade stocks and tied to a single broker. Let's make it for everyone. So Nirvana, we invest in you, please care about us, don't leave us to wait for decades. Here are serious people who work with money and valued time. So give us a clear answer whether the support for additional brokers and when?

Best regards
Sergey
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Barry Cohen

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 3/7/2016 11:48 AM
Post #25047 - In reply to #25024

All the concerns you posted about we are aware of. To be clear, with Trade King's changes to MB Trading, we no longer have a forex broker integration. Hopefully we can make some improvements on this avenue this year.
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Jim Dean

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 3/7/2016 12:00 PM
Post #25048 - In reply to #25047

Maybe it's time to bite the bullet and implement FIX with IB. No one's likely to buy them out!
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Sergey

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 3/7/2016 3:05 PM
Post #25050 - In reply to #25024

Do you mean that at the moment there are no possibility to trade forex through Omnitrader, even if I have an IB account? How about Visual trader with TradeKing?
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Barry Cohen

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 3/7/2016 3:45 PM
Post #25051 - In reply to #25050

Currently there is no forex broker connectivity with Nirvana's software. MB Trading was the only one we had until Trade King's changes.
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Jim Dean

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 3/7/2016 3:48 PM
Post #25052 - In reply to #25051

We want I B
We want I B
We want I B

Attica!!

:~)
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Alexandre

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 3/7/2016 4:35 PM
Post #25053 - In reply to #25052

Me too!!!

I want Forex on IB!!! ;-)




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Sergey

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 3/7/2016 6:51 PM
Post #25054 - In reply to #25024

Yes, start from IB because you already have a relationship with them.
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Buffalo

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 3/26/2016 7:45 AM
Post #25066 - In reply to #25024

This must be a top priority and is simply unacceptable. The TK buyout took time to complete, which was time to come up with a solution, but instead we have nothing? Nirvana offers forex data but no broker? Really?
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Buffalo

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 4/1/2016 9:59 PM
Post #25073 - In reply to #25066

Bueller? Bueller?
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Barry Cohen

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 4/4/2016 9:25 AM
Post #25075 - In reply to #25073

Sorry, but nothing has changed since my last post.
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Barry Cohen

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 5/5/2016 10:49 AM
Post #26078 - In reply to #25075

The next PR should have forex integration with IB (finally right?), on the latest IB version as well!
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Jim Dean

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 5/5/2016 10:56 AM
Post #26079 - In reply to #26078

Hurrah!!
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Sergey

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 5/5/2016 11:48 AM
Post #26080 - In reply to #25024

Hurrah! You made my day! How about implementation of non US broker? For example- Dukascopy. If you search on forum, you will see that I'm not the first one who ask for this broker. Anyway, Nirvana has done a very important job. Thank You!
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Barry Cohen

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 5/5/2016 12:56 PM
Post #26081 - In reply to #26080

We're not looking into non-US specific brokers currently. Adding support for a new broker isn't as easy as flipping a switch, otherwise we would have tons of brokers available. It's something that can take several weeks to several months of R&D, per broker. IB is an international broker though.
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John W

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 5/5/2016 3:26 PM
Post #26082 - In reply to #26081

Definitely a step in the right direction!

When you do the forex link to IB could you also enable interaction with their CFD symbol lists. This would allow us to trade other symbol lists such as non US lists in Europe and Asia Pacific. Perhaps linkage to their global commodities and futures also?
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Barry Cohen

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 5/5/2016 3:55 PM
Post #26083 - In reply to #26082

John, OmniTrader already has that capability with a new feature we added in OT2016. :)

In your OT2016, click Help -> Contents -> What's New -> Broker Mapping Tool and Symbol Translation.

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John W

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 5/5/2016 4:00 PM
Post #26084 - In reply to #26083

Wow you guys are AMAZING!
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Buffalo

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 1/28/2017 5:15 PM
Post #27421 - In reply to #25024

soo can we mechanically trade FOREX with IB? Will trade king via MB ever become available? Any other FOREX broker in the hopper?
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Barry Cohen

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 1/30/2017 11:33 AM
Post #27423 - In reply to #27421

Currently you can trade FX with IB, yes, through IB Gateway or TWS. GXTrader & Trade King FX both are FX capable, but our software doesn't have the integration for those at this time.
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Buffalo

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 1/30/2017 4:42 PM
Post #27424 - In reply to #27423

IB gateway? TWS? Not sure what you mean Barry. Is there an install download for either/both of these. Do either/both work with OP?

But good to hear

Wish a TK-OP connection was up and running though. TK took over MB FOREX quite some time ago...
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Barry Cohen

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 1/30/2017 5:17 PM
Post #27425 - In reply to #27424

IB Gateway & TWS are what IB uses to connect with. It's their software & can be downloaded from their website. OT is integrated with them both & can be used manually, with Auto Trade, or with Pilot.

I understand about TK. So far we've only had time enough to get it working in VT for stocks & options.


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Buffalo

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 1/30/2017 10:58 PM
Post #27426 - In reply to #27425

Barry

Is there any written How-To on OT-TWS setup, execution, etc, etc?

EDIT - IB offers NO leverage when trading FOREX for accts less than $10MILLION. No leverage

http://www.financemagnates.com/forex/analysis/whats-next-for-us-forex-after-interactive-brokers-abandons-retail-market/

OK Nirvana it is time to make this a priority. Other, namely TK, FOREX brokers required. You offered FOREX trader but it really is of no use for your own automated platform
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John J

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 2/1/2017 2:37 PM
Post #27428 - In reply to #25024

Hey Buffalo Bill,

FXCM implemented some pretty stiff requirements as well. I'm a resident of Canada, and they demanded that I transfer my account to Friedberg and fund that new account with a minimum of $1 million (go figure as I was trading through FXCM UK at the time).

Seems like stiff requirements are imposed whenever the broker in question happens to have a physical presence in either USA or Canada...


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hafnium

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 2/4/2017 11:30 AM
Post #27435 - In reply to #27428

Most international retail forex brokers decided not to accept US clients due to the heavy regulatory requirements imposed by the NFA.

Two possible solutions to the Forex broker Avails issue. Both however would require dedicated Nirvana resources to make happen.

1. Nirvana FIX API connection (what they currently use to connect to IB via Garwood)
Spotware (makers of ctrader) started allowing direct FIX API connections to their ctrader accounts in 2016. Thus - any broker that offers the ctrader platform should be available. Unfortunately - Spotware stopped allowing US citizens in mid 2016. It was too difficult for them to deal with US NFA regulations. So - this solution will not work for US citizens - but does open up about a dozen brokers for most international clients.

Other brokers (other than ctrader accounts) also offer FIX API connections, but they generally want $25 to $30K to open an account. The big advantage of the ctrader FIX entry is that normally, a ctrader account could be opened by something in the range of $500 to $1000. Even FXCM offers FIX - but you need $25,000 to use it. Similar requirements for OANDA.

2. MT4 is the largest retail Forex platform on the planet. If there is a way to bridge over to the MT4 interface - that would make hundreds of brokers available (US and overseas, including Tradeking, FXCM,forex.com, etc....). However, I am not aware of any service that could provide the bridge over to MT4 (perhaps metaquotes themselves could).

3. Lastly - you could use a strategy that allows you to manually mirror your OT/VT signals - but obviously not an automated solution.



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Linda

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 12/11/2017 9:37 PM
Post #29760 - In reply to #25024

Has Omnitrader or VisualTrader added any new forex brokers (other than IB)to their list of forex brokers? If not, then why is it taking so long? We need Forex.com to be added to the list of available forex brokers, so that we can use the software we purchased.
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Jim Dean

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 12/11/2017 10:33 PM
Post #29761 - In reply to #29760

Linda

Adding brokers is a very complex process involving behind the scenes negotiations and significant software development and maintenance.

Since only a tiny percent of OT users are active forex traders (according to N surveys), there are a lot of other higher priority items that affect larger swaths of customers.

Recommendation: for the time being, open an account at IB.
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Linda

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 12/12/2017 12:33 PM
Post #29763 - In reply to #25024

Jim - One brokerage firm (IB) is not much of a selection to choose from, and IB is not for everyone! When Nirvana originally pitched their software packages to us we were promised you would add more forex software enhancements and forex brokers later on, but it would just take some time before they were added. Now from what you are telling me you don't plan on keeping your promises to your forex clients, because it just takes "Too Much Time" and Forex Traders are just not “High Enough on Nirvana’s Priority List”! Well I wish Nirvana would have been more honest with their forex clients sooner, by letting us know you just weren't interested in tailoring your software to meet the full needs of the forex trader. Then we wouldn’t have spent so much “Time and Money” investing into your software in the first place! I have invested a lot of money into your software packages, and I am very insulted (as I am sure other forex traders are) by Nirvana’s excuses and false promises! Too bad you are limited by your small client base of only stock traders, because if you were "smart" you would have figured out a way by now on how to expand your business by advertising your trading software to the much larger trading market of Forex Traders. It is a fact there are far more trading transactions processed daily through the Forex Market than there ever is in the Stock Market, and with that much trading going on you would think a trading software company like Nirvana would have looked at years ago on how to capitalize on that growing market of traders, and expand their client base with “New Forex Traders”! I will be looking for a new trading software company to process my forex trades through as I am sure most of your forex clients will also do, because obviously Nirvana doesn't intend on keeping any of the promises they make to their forex clients.
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Jim Dean

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Subject : RE: Please Nirvana, we need more forex brokers.
Posted : 12/12/2017 1:50 PM
Post #29764 - In reply to #29763

I don't work for Nirvana. Jmho, fwiw. No harm intended.


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