This is a somewhat related question about MetaTrader, which is the most popular FX platform.
It could be considered paranoid and jingoistic, so I apologize in advance to all the great Russian hackers out there.
Does anyone know anything about MetaQuotes (the maker of MetaTrader)? They're a trusted solution provider to many of the biggest banks in the world, and yet in my experience it's difficult to find anything about them online (the company, not the software).
I know it's a broad stereotype, but many Russian companies don't have the best reputations when it comes to business ethics. It's an open secret that many of the top oligarchs formed more or less a kleptocracy with the Putin administration, and that the rule of law is pretty shoddy when it comes to Western companies or individuals seeking justice.
Traders all over the world plug in their algorithms in plain text right into MetaTrader. Realistically, do they have anything to worry about, or am I being completely paranoid?
I don't mean to disparage MetaQuotes. As I said, I don't know anything about them, and they partner with big financial institutions all over the world. Many of these companies provide customized versions of MetaTrader, so I would imagine they might have access to some or all of the MetaTrader source code. I guess I'm just looking to be reassured.
What steps could a trader take on any platform in order to reduce exposure to potential bad actors? Is using an API from a broker the only solution?
Anyway, again my apologies if I offended anyone.
Update: their Wikipedia page has a few more articles on them than I remembered. Also, technically they are registered in Cyprus, but were founded in and are primarily based in Russia. Still, I'd love to hear people's thoughts on this issue:
There was a huge scandal because it was revealed that MetaQuotes implemented a function to forcefully cause disruption in the orders that were coming in. This function would be used by brokers to forcefully widen the spread at any given time. I remembered a lot of traders, myself included, just completely lost trust in retail forex. It was nothing but a sham.
It could be considered paranoid and jingoistic, so I apologize in advance to all the great Russian hackers out there.
Does anyone know anything about MetaQuotes (the maker of MetaTrader)? They're a trusted solution provider to many of the biggest banks in the world, and yet in my experience it's difficult to find anything about them online (the company, not the software).
I know it's a broad stereotype, but many Russian companies don't have the best reputations when it comes to business ethics. It's an open secret that many of the top oligarchs formed more or less a kleptocracy with the Putin administration, and that the rule of law is pretty shoddy when it comes to Western companies or individuals seeking justice.
Traders all over the world plug in their algorithms in plain text right into MetaTrader. Realistically, do they have anything to worry about, or am I being completely paranoid?
I don't mean to disparage MetaQuotes. As I said, I don't know anything about them, and they partner with big financial institutions all over the world. Many of these companies provide customized versions of MetaTrader, so I would imagine they might have access to some or all of the MetaTrader source code. I guess I'm just looking to be reassured.
What steps could a trader take on any platform in order to reduce exposure to potential bad actors? Is using an API from a broker the only solution?
Anyway, again my apologies if I offended anyone.
Update: their Wikipedia page has a few more articles on them than I remembered. Also, technically they are registered in Cyprus, but were founded in and are primarily based in Russia. Still, I'd love to hear people's thoughts on this issue:
http://en.wikipedia.org/wiki/MetaQuotes_Software