Saxo pull the plug on TradeCommander
On 1 October 2009 TradeCommander will be suspended indefinitely and removed from Live and Simulation SaxoTrader platforms. Quoting Saxo, “At
On 1 October 2009 TradeCommander will be suspended indefinitely and removed from Live and Simulation SaxoTrader platforms.
Quoting Saxo, “At 0800 GMT (1000 CET) on 1 October, all running systems will be stopped. Therefore Clients with active trading systems should stop these systems (and if they wish, export/save/print them) before the end of September 2009. Open positions will not be closed, so Clients should manage these positions themselves even though they may be warned by the system not to do so.”
Join the Leading Industry Event!
Suggested articles
How to Generate Leads Outside of the Box?Go to article >>
This people, is bad news for all parties involved. Bad news for traders, but even more bad news for Saxo. Firstly, there aren’t too many options for autotrading outside of the monopoly that is Metatrader, so if you’re not too keen on the actual MT4 platform itself, then it’s a real kick in the teeth.
Secondly, Saxo, despite being one of the largest forex brokers around, aren’t exactly a shining beacon of light in the forex world. They have their fair share of trader complaints, their web platform is relatively slow; point being – they’re already a few steps behind their forex broker competitors, and now that they’ve shut the door on what was actually one of their better offerings, TradeCommander (a useful autotrading plugin), they’ve unfortunately taken yet another step back.
This is another victory for MT4 based brokers. Don’t get me wrong, I do like Metatrader, but competition makes for a healthy market.
Leave a Reply
SAXOBank is like someone who first give you a toy to play with and then take it back for no reason… Another thing SAxo did was exotic options trading which was available for major FX pairs. I practiced strategies a lot only to find out that it will not be available for “small” traders like me… So pathetic.
Avafx and forexyard have algorithmic trading. Its much better than the MT4
I tried SAXO’s platform for forex options and the premiums compared to the timeframes are wacked if you ask me.
Too bad they only give you the demo platform for 20 days…