I recently checked it out. Just a quick overview of what’s on offer.
Ok, so what are the main features of this new platform?
Here’s a quick run-down.
- Fix compliant Secured Connections
- Ultra Low latency execution
- Trade & Auto-Execute on Currenex and Futures
- Professional Charting
- Advanced Order Entry
- DDE Server and FIX-API
- Powerful charting and analytical tools
- Custom indicators
- Alert scripting
- Automated Strategy Execution
Fastbrokers claims this is an “innovative and easy to use custom trading platform designed around you.”
Obviously every single broker claims their own platform is innovative and designed around the trader, but does this PathFinder Trader fit the bill?
It definitely has some impressive features.
For example, if you have different accounts with this broker, using PathFinder Trader, it’s actually possible to control all your accounts through one instance of the software, meaning you don’t need three of four different terminals, therefore no need to keep having to switch through them, everything is displayed on the same screen.
Another feature that most brokers don’t offer is the fact that you can trade futures with this platform. I know most retail traders aren’t into futures, that’s probably because Metatrader doesn’t provide this. If MT4 did, then I think a lot more traders would be interested in futures.
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In addition, PathFinder Trader has a very powerful trading mechanism at its disposal. Trades can be placed from the charts, the entry panel, or through the scalper book. Advanced entry exit strategies, multiple orders and brackets are available for day-traders.
How about charting? Well, if you want customisation with your charting, then let me tell you, PathFinder Trader has amongst the most customisable charting in the industry. Better than Metatrader’s charting options? Absolutely. With options such as three lines break, equivolumes, Heikin Ashi, Kagi, Point Figure, Renko all included by default. It goes without saying you can change style, colour, design of your charts, to make it much more personalised.
Moving on to the programming side of the platform. They’ve developed a language called, PathScript. Pathscript “is a non-procedural scientific vector programming language that was designed specifically for developing trading systems. The language provides the framework required to build sophisticated trading programs piece by piece without extensive training or programming experience.”
Now, even though I know a little about programming having dabbled with C/C++ in the past, I’m not a programmer, far from it. So this new approach to programming your own script/ea, I’m hoping is a more pleasant experience than say, MQL. I didn’t really delve into Pathscript, so I can’t comment on it for the purposes of this review. The downside is that, it’s not a public programming language, in the sense that, FXCM’s new platform (Strategy Trader) uses C#, which is used by hundreds of thousands of coders, making it easy for them to code automated systems for the platform. Pathscript on the other hand, nobody has ever used, so one will have to learn this first before attempting to code. Like I said, lets hope it turns out to be an easy to learn/use language.
Concerning backtesting, then it remains to be seen how effective PathFinder’s backtesting engine is. This is a vital component of any platform. It has to be better than Metatrader’s, that’s all I can say!
Overall, this platform seems very promising. Excellent features – controlling multiple accounts via one terminal, cool set of default indicators not seen in most platforms, powerful trading mechanism, ability to trade futures, an easier programming language, a potentially powerful backtesting engine, and lots more ingredients make Pathfinder Trader something which should appeal to many traders.
One final point I’d like to make is, with all these features, it is going to take some power on your machine to get it to run smoothly. I tested this platform on a P4 2.0 Ghz, with 2GB DDR Ram on my machine, and it took over 15 seconds to get it up and running. I’d suggest you’d want a Core i5 at least to be able to trade via PathFinder without any hiccups.
To download a demo of the new platform, visit: