Recently we have been increasingly getting questions from our clients about which one arbitrage software is better and we would advise to buy, which one platform is better and what is our recommendations about broker.

In this article I will try to provide all information which will help you make the right choice.

A lot of depends on the size of your deposit.

Important Tip: if you plan to trade on the $5000 account it is bad idea to first open an account with $100 to try. Firstly, broker can put $100 account and $5000 account into different groups, with different trading conditions. And in this case your test on $100 account will be not relevant.  Secondly, the dealer will assess their risks differently. He can put account $100 -1000 on B-book first, but it will be more risk for him to put account $3000+ on B-Book.  Of course all these figures depend on the rules of the dealing department of the brokerage company.

Of course all these figures depend on the rules of the dealing department of the brokerage company. You can deposit 5000 and trade with smallest lot size for testing purposes and the increase it. For accounts < 1000 we recommend to start with Latency (1 leg arbitrage) for MT4 or MT5

Arbitrage Software for both platforms has pros and cons:

MT4 and FIX API Latency Arbitrage Software

latency arbitrage

Pros

You can use it not only with MT4 but with FIX API brokers as well. You can start trading with $100 if your broker support lot size = 0.01

You can use it with cTrader brokers via fix api and normally brokerages are introducing additional requirements for clients that are trading through FIX API’s, for example high initial deposit, or minimum commissions. But now you can use cTrader FIX API account benefits with low initial deposit and without any limitations for commissions.  FIX API accounts works better for Arbitrage trading and high frequency, because trader is able to use pending orders instead of market orders and control slippage.

Cons

 MT4 platform doesn’t support FOK and IOC orders and you should use Market orders. If your broker has market execution, some orders can be slipped and you can't control it. We offer nAlgo add-on for slippage control.

If your use MT4 accounts, it is better to use another EAs to camouflage arbitrage trading. Or (and) you can use AutoClick for  Manual Tradeng Emmulation)

Learn more about MT4 & FIX API Latency Arbitrage

 

MT5 Arbitrage Software

mt5 arbitrage

Pros

You can use Fill or Kill orders for all types of execution and control slippage. Read more about MT5 order and execution types

Cons

MT5 Arbitrage software support only MT5 platform. FIX api is not supported. It is better to use another EAs to camouflage arbitrage trading.

Learn more about MT5 Arbitrage Software

 

cTrader Arbitrage software

ctrader arbitrage

 

Pros

cTrader has better execution and it is more useful platform then MT4 and MT5.

 

Cons

Not a lot of brokers offer cTrader platform

Learn more about cTrader Arbitrage Software

 

Hedge (2-legs) MT4 and FIX API Arbitrage Software

latency arbitrage

Pros

You can use it not only with MT4 but with FIX API brokers as well. You can start trading with $200 if your broker support lot size = 0.01

You can use it with cTrader brokers via FIX API.

Software works better with FIX API brokers. Minimal deposit for FIX API brokers $2-3k or cTrade FIX API - $100

 

Cons

 MT4 platform doesn’t support FOK and IOC orders and you should use Market orders. If your broker has market execution, some orders can be slipped and you can't control it. You can use AutoClick for  Manual Tradeng Emmulation)

Learn more about MT4 & FIX API Hedge (2-legs) Arbitrage

Good luck!