Exclusive: Magick and Atom8 Bring Cloud-Based Automatic Strategies to MetaTrader 4

Launched earlier this year as a SaaS offering to individual traders, Magick, a cloud-based strategy builder and deployment technology firm, has finalized its first broker collaboration with UK-based Atom8. Following the partnership, Magick’s services are being made available to Atom8 MetaTrader 4 account holders with traders who meet a minimum volume threshold and are provided the automated trading product for free.

According to David Andrews, Partner at Atom8, who spoke to Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates about the news, currently around 40% of the broker’s customers are estimated to be using Expert Advisors (EAs), but their trading composes 80% of overall volumes. As such, the Magick offering is viewed by Atom8 as being complementary to meeting the needs of their client base.

In regards to why they chose to work with Magick versus other systems, Andrews explained saying, “I have been an automated trader for years and Atom8 had initially looked into coding EAs for frequent trading clients. However, that is a time-consuming and expensive proposition. With Magick, traders can build a strategy in under 10 minutes and test it immediately. The speed to Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term is unparalleled for automation.” Andrews added, “What is also great is that Magick listen to their customers' needs/ requests and communicate and answer questions promptly.”

Also speaking to Forex Magnates about the deal, Mikael Breinholst, CEO and Co-founder at Magick, explained that the partnership occurred after “Atom8 performed extensive tests of Magick and our connection to their trade servers and the tests confirmed that we have a very low latency connection to their trade servers.” As a result, although Magick’s services can connect to MetaTrader 4 terminals at any broker, they expect optimal low-latency results for Atom8 customers who connect their account.

In relation to why they partnered with Atom8 as their inauguaral broker, Breinholst answered, “Out of the numerous brokers we are working with we chose Atom8 as the first broker to officially partner with. Similar to Magick, Atom8 is bringing high-quality, institutional grade technology to the retail market and they share our passion for customer engagement and world class customer support.”