Online trading brokers rely heavily on internet technology. After all, virtually everything is done online – all transactions, deposits, withdrawals, and other essential trading activities use the internet. It is therefore very important for leading online trading companies such as FXCM, iForex, Xtrade and Plus500 to have strong technical support and back-up.
FXCM’s MetaTrader 4
Being a powerful trading platform which allows for anonymous forex trading and zero trading restrictions, FXCM’s MetaTrader 4 seamlessly integrates with the No Dealing Desk forex execution. The MetaTrader 4 also allows FXCM traders to set Stop Loss and Take Profit orders in the midst of opening a fresh trade, and allows traders control the timing and how much of a position that they want to close. Here’s another evidence of FXCM MetaTrader 4’s power: it allows for order sizes up to 50 million for the same pair. This multi-functional trading platform requires an equally powerful server.
For FXCM, Each MetaTrader 4 account runs on a specific FXCM server. There are separate servers for demo or live accounts. When a client signs up for an account, the specific FXCM server name will be sent to the account’s email address. It could either be a demo or live account. There are separate servers for demo and live accounts. The demo accounts may have expedited transactions and the lack of rejected orders. But for the most part, it simulates a live trade.
If for some reason the original email containing the name of the server cannot be retrieved, the account holder can log onto the Trading Station Web. Once they have logged in, the bottom part of the platform lists down the specific FXCM server. If a message that says “No connection” is received, look for the alternative FXCM server and type that in.
FXCM Server compared to its Competitors
FXCM continues to improve their server capabilities to keep up with the competition. For another currency exchange and Forex trading service provider called iForex, they recently added an enhanced development server. By using this new server, iForex will be developing innovative and creative trading tools that would greatly enhance the features and tools of their trading platform. Xtrade is an online trading company that is known in the industry to have one of the most innovative trading platforms. Xtrade has international presence, and with servers all over the globe, clients are given an excellent trading experience. Plus500, on the other hand, is a broker with trade servers that are found in London. The platform for Plus500 is developed in-house. There is nothing to download or install with Plus500. It is one of the few trading platforms with online only front ends.
FXCM’s VPS Server
FXCM is one of the few online trading brokers that allow VPS application. This allows the client to log into the platform from any computer, even if MetaTrader 4 is not installed. A VPS uses an external, isolated server to manage trades, and ensures that the platform is running 24 hours a day. VPS can also be used as a remote repository or FTS server. An advantage of a VPS server is if the personal computer goes down, the data stored in the FXCM server can be replicated into another server.