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It's true that we are unlikely to charge NT or MC pricing as the real market for IQBroker, at its current state, is mostly hedge-funds and trading firms these days. But, alternative pricing models are still being considered, such as MetaTrader's model and others.
In addition we are working on fixing up our charts, so that discretionary / semi-automated / chart experts, will be possible. Making the platform more dual purpose, thus perhaps opening the possibility of providing both an institutional and a retail solution.
If you have any questions about IQBroker's products or services, please send me a Private Message.
Oh don't get me wrong; IQBroker is a great and indeed very useful program. The support is great and very open to feedback, and the release cycle very frequent.
My point was more that the majority of futures.io (formerly BMT) users probably don't have enough capital to make the investment in such a software product a 'prudent business decision'. That made me wonder why multiple webinars for retail traders were being offered.
But I agree with your angle, and in hindsight my critique at the webinars was somewhat misplaced.
I'm not your target customer, so it's not really up to me to say something about this, but please don't do this. I don't know what other retail traders think of MetaTrader's model, but I don't trust it, since one way or the other the broker has to recoup its investment in this software license and you're tied to one broker. So while it looks cheap to the end user, you're probably being charged some hidden fees with slippage or (in the case of MetaTrader) stop hunting and order manipulation by the broker. Such a thing would certainly tarnish the good name of any platform.
Don't get me wrong with the following point, but why offer discretionary trading while pretty much all of your retail competitors already offer such a thing, and have implemented this good to very good? It seems to me like a big investment in support time and programming time to make such a thing, while this on itself certainly won't set apart IQBroker from its retail competitors. I don't mean to criticize your ideas, since you're certainly more knowledgeable than me, but do we really need yet another retail discretionary trading program?
When I mentioned 'retail traders', I wasn't implying that retail traders want some kind of discretionary/semi-automated trading. My point was that, while I do consider myself somewhat a professional retail trader, my budget for software isn't institutional-like. And being a retail trader doesn't mean I'm not interested in automated algorithmic trading (far from it actually).
A retail solution of IQBroker could also entail other things than discretionary trading, while at the same time still maintain IQBroker's strength (professional algorithmic trading). For example, IQBroker retail could be limited to one account with one or two strategies, or to one broker, or limited to a live trading account worth less than X currency.
That way, IQBroker can offer a retail solution without giving up its strengths and without investing programming time in areas unrelated to its strengths. And that way you can build a retail following, which can scale up to additional licenses and/or professional pricing when their accounts and needs grow (with the doubtful assumption that plenty of retail traders will make that growth).
Jura, thanks for your feedback, suggestions and kind words about our platform.
The MetaTrader model simply means that the software vendor sales a license to the broker and the broker provides the platform free of charge to its clients. It doesn't have to come with the manipulations that are currently associated with the platform, as standard brokerage commission fees can still be applied. The price manipulations are part of the FOREX brokerage business and not the MetaTrader business model - but I'm not here to defend MT, nor am I implying we are likely to adopt that model. Just another option.
Strengthening our charts is a couple of months work, which is already on its way. Not a major investment.
IQBroker was designed to be the dream machine of automated trading, and has no intentions of becoming a general purpose, retail trading platform. That being said, many automated traders, mostly retail, simply want to open a chart (ES for example) and have their strategy run on it, without the entire strategy portfolio structure. That is something we might consider adding, as an alternative to the institutional strategy portfolio model.
Anyway, all options are on the table, and we are closely listening to user feedback in shaping our institutional and retail solutions.
If you have any questions about IQBroker's products or services, please send me a Private Message.
I'm very interested in IQBroker platform.
At first look it seems very promising.
I have questions about IDE:
1. Do you plan to support Visual Studio?
Everybody uses it and knows that it's the best.
It's has great extensibility. There's a free version.
2. Why companies like yours try to make (buy!) their own Editor?
What are benefits of that?
IQBroker uses the WPF ActiPro syntax editor, which is constantly being updated and improved. The next version will support syntax formatting and more visual studio like features.
The level of integration between the platform and its scripts makes it easier to use the built in editor.
For example:
1. When you create a trading strategy the parameter wizard helps you set up script parameters with the meta data that is needed to set those up.
2. The API explorer is located inside the editor and can easily be accessed while you code.
3. When a script crashes during run time you can open it inside the platform and view additional details.
4. If a trading strategy references other scripts such as indicators, then IQBroker maintains those references for you, even if you move the resources around or change their name. It's also easier to reference other scripts in IQBroker then in visual studio.
I agree that Visual Studio is amazing, but I believe that even if we add support for it, the vast majority of users will eventually chose to use the built in editor, due to the high level of integration.
If you have any questions about IQBroker's products or services, please send me a Private Message.
Is IQBroker still in business? According to the website, the 'major overhaul' should be released this quarter, but the last tweet is from January 8 while there were previous a few tweets per month.
While creating a new GUI and adding charts will undoubtedly will be a lot of work, if only those two new features are added within roughly a year, that is somewhat concerning.
In mid 2010 IQBroker LLC launched a very sophisticated automated trading platform that was way ahead of its time in features and capabilities.
Unfortunately our data integration and user interface were way too complex for most retail traders and we were forced to market the platform to institutions. For several years we continued improving IQBroker's engine as we gathered user feedback on how to re-design the platform so that it fits retail trader's needs.
During the past 12 to 18 months we've been redesigning IQBroker based on user feedback, while adding hundreds of user requested features, including a completely new UX, feature rich charting, discretionary trading, VS2013 support, open on-demand .NET data integration, open .NET broker integration among many others.
We're taking everything that we've learned over the years and implementing it in the new version so that IQBroker can compete with both existing and future platforms.
We believe the new IQBroker will be an industry changer for both institutional and retail traders - so stay tuned!
If you have any questions about IQBroker's products or services, please send me a Private Message.
I still occasionally keep track of IQBroker, but it seems that the release 'in a few months' (communicated in January) is not achieved. Currently, IQBroker's website gives 'early 2015' as the latest, and that's for the beta version it seems.
We'll just have to wait and see a bit longer, I suppose.
I appreciate your continued interest in our platform and I assure you that we have something very special in the making that will be well worth the wait. I don't want to get into details right now but I can say we're very confident that retail traders will love the new IQBroker.
I look forward to presenting IQBroker at futures.io (formerly BMT) and becoming a part of this amazing community once we're finally out in beta.
IQBroker is coming...
If you have any questions about IQBroker's products or services, please send me a Private Message.
