Beeks Financial Cloud’s EA hosting service becomes available to clients of Forex.com Japan.
Although one might think that expert advisors (EAs) have had their 15 minutes of fame, some traders continue to dream of an automated trading system bringing them long-craved fortune, and some brokers continue to respond to such traders’ requests. The latest example is provided by Forex.com Japan, the retail FX brand of GAIN Capital Japan Co., Ltd., which today announced that it is renewing its EA hosting service.
VPS is essential for EA users as they need stable connection for the normal, uninterrupted work of the automated solutions they are using.
The company is offering its clients who use EAs to open VPS accounts and make use of Beeks Financial Cloud’s EA hosting. The pack includes RAM memory 2 GB, Windows Server 2012 R2 OS, HDD 20 GB. Traders will also be allowed to select server locations – New York, London or Tokyo.
The company warns that there are certain conditions for using the renewed VPS service, including a minimum monthly turnover (of 500,000 currency units), etc.
Let’s note that Forex.com Japan has sought to distance itself from EA sellers. In September last year, the FX broker warned its customers that it is not responsible for any losses suffered due to the deployment of EAs and other MT4 products for online trading. It said back then it will not respond to any complaints with relation to these products.
Although, in its essence, the message sent by this announcement was trivial – “we are not responsible for what results from the use of third-party software”, it also highlighted some continuing problems for the online trading industry. The first of them are misleading marketing slogans. Forex.com Japan notes that often EA sellers fail to warn about the risk of losses associated with the use of the advertised products. Then, of course, there is the issue of payments. Traders may not get what they were promised, their refunds may get stuck, etc.
It is somewhat weird to see an announcement about enhancing MT4 services, given the MetaQuotes’ push towards developing MT5 rather than MT4. Plus, FinanceFeeds’ readers may recall that in January this year, MetaQuotes said it will stop issuing new licenses to new brokerages, although the MetaTrader 4 platform can continue to be used by existing customers.