MT5/CQG bracket orders - server or client side?

Futures Trading Platforms
1

From what I can tell, bracket orders with MT5 are client side. I’m not totally sure if this is a CQG thing or a broker thing though. How do these types of orders work with Optimus?

2

Hi @rrs,

Thanks for your question and welcome to the Optimus community forum.

We spoke with our FCM who supports MT5 and according to them, most native order types on MT5 are stored server side. The orders do not work at the exchange, however, but most orders will work on the MT5 server.

If there is an algo though, orders could be held client-side, depending on how it is coded.

So to answer your question, unless you are placing your orders through an API of some sort or an automated trading system through an EA (Expert Advisors) on MT5, the native order types and bracket orders on MT5 are held server side.

I hope this helps and thank you again for your question!
Jake
Optimus Futures Support

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3

Thanks Jake. I place my orders via an EA, but to my knowledge they are submitted as normal bracketed market orders, same as I would create from the order panel in MT5.

I also asked this question at AMP and was told that bracket orders were held client side in MT5, period, so I wonder where the discrepancy in information is coming from. Maybe they weren’t accounting for Metaquotes holding orders in their server…?

Either way it sounds like some more testing might be in order… do you offer demo accounts for MT5?

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4

Sorry, I’m just learning about IBs and FCMs, so you wouldn’t offer the demo account yourself.

It looks like StoneX is the only FCM you work with that supports MT5, is that accurate? I don’t see any ability to open a demo account on their site, they don’t look like they’re as geared toward retail traders.

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5

We do not offer demos because many paper traders, particularly those using MT5, do not convert to live accounts yet require ongoing support. Many of the MT5, and those who use it, come for CFD/Spot FX world and think demos could be unlimited. Since Futures data comes from the exchnages, the data demo period is limited when implemented.

We work exclusively with StoneX as our FCM for MT5 due to their efficient execution solution. They cater to retail traders, and we use them for our retail traders who trade specifically on MT5.

Matt Z
Optimus Futures

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Sounds good. Thanks for the help!

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7

We rely on the FCMs to provide us with accurate answers. However, it is important to note that there are various configurations that can be implemented. For instance, Stone X may use their API and CQG for risk management, which means that each FCM/IB could have a different configuration.

We have great respect for AMP and consider them a worthy competitor. You are more than welcome to try both and see which one works better for you.

Best,
Matt Z
Optimus Futures

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