After months of investigation, back-testing and programming I finally decided to take the leap into live forex trading. I decided that I’d start by using a small number of broker platforms here in Australia so I went with 3 forex brokers, these were Axitrader, Go Markets and IC Markets. All these three forex brokers permit EA forex trading so I decided to give all of them a shot and write this review on how my EA functioned across all three forex broker platforms to share with other people.

Before I commence I ought to give you all a brief rundown on how I conducted my evaluation across my live accounts on all 3 forex broker platforms. I used the following three major criteria to perform my evaluation:

1. Execution Speed or Order Latency 2. Quantity of Profitable Trades Executed 3. General EA Profitability; and

Every one of the 3 forex brokers were evaluated based on their performance across all four of these criteria.

Execution Speed or Deal Latency Execution speed was an interesting part of the test for me because from the start I knew that the outcomes from each of the three brokers would be very different as they would be very much dependent on the forex brokers server location and model they utilize (market maker, STP, DMA, ECN). To make this experiment more accurate I made a decision to ping each brokers server from VPS’s located in Australia, The United Kingdom and the USA. My results from the ping experiment were as follows:

Australia Axitrader = 271ms ping Go Markets = 108ms ping IC Markets = 94ms ping

United States Axitrader = 419ms ping Go Markets = 234ms ping IC Markets = 134ms ping

United Kingdom Axitrader = 528ms ping Go Markets = 189ms ping IC Markets = 178ms ping

The outcomes of my ping tests were extremely surprising. It was very interesting to note that IC Markets had the smallest latency out of all 3 forex brokers when tested on 3 separate VPS’s. I also found it very interesting that Aussie established broker Go Markets latency was poorer when tested on VPS’s stationed in the UK and also the United states than on an Australian Virtual private server. The winner of my server ping investigation was IC Markets.

Quantity of Moneymaking Deals Taken This was one of the most interesting checks that I have ever conducted. The examination itself was intended to illustrate Expert Advisor performance across all 3 brokers based on the number of trades taken, of course the more trades an EA takes does not necessarily mean that the EA is much better, it basically comes down to the profitability of the trades taken. To make sure that I covered many different market conditions I tested the EA with all brokers over a 3 month time-frame. Unfortunately as this experiment was carried out on real accounts to ensure exactness I could only use a VPS in a single location, so I chose an Aussie VPS provider as all three forex brokers have their headquarters in Australia.

Because the EA took numerous trades over the three month time frame of this test it would be impracticable to provide particulars of all the trades taken in this review so my findings for eachcompany only show the number of trades taken and their average profitability on my $1,000 micro trading account. My results are below:

Axitrader Number of Trades Taken : 187 Average Trade Profitability : $19.72 Total Profitability : $3,687.64

Go Markets Quantity of Trades Taken : 178 Average Trade Profitability : $23.40 Total Profitability : $4,165.20

IC Markets Number of Trades Taken : 189 Average Trade Profitability : $22.89 Total Profitability : $ 4,326.21

Based on my test results IC Markets came out trumps, my EA took 2 extra deals on IC Markets MT4 than on Axitrader’s and eleven more deals than on Go Markets. The average profitability for each trade was largest on Go Markets MT4 however as there were fewer deals taken Go Markets actually showed the lowest total profitability.

Overall EA Profitability This part of my test wasn’t really much of a test however it was rather a review of the general performance of my Expert Advisor on each of the three forex broker instances of MT4. It is quite clear that after running the same EA across all three broker platforms that the most lucrative broker platform for my EA was IC Markets. The performance of the EA on IC Markets platform was marginally greater to what was accomplished on Go Markets trading platform however it displayed substantially greater earnings than on Axitrader’s trading platform which had the worst profitability of the bunch.

In conclusion from my testing the top forex broker platform to run your EA’s on is IC Markets, I believe that the excellent results achieved with IC Markets was primarily due to lower latency and superior execution on their instance of MT4. It goes without saying you might want to test all of the forex brokers out for yourself prior to leaping into EA trading, however I am positive that your results will not be much different to mine.

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