I. Features of Westernpips Private 7.
II. Open-source analysis of Westernpips Private 7 software.
Capabilities of Westernpips Private 7
As the manufacturer states on its website, Westernpips Private 7 is a unique software. It includes a trading terminal for latent arbitrage on any broker. The trading terminal has built-in algorithms for automatic trading, using the technology of direct access to servers via TCP connection. There is a possibility of connection in any variations of the slow/fast broker schemes. Fast quotes by FIX/API/ITCH protocols are used in trading. Using the new technology allows you to reduce the time of opening the deals by 15 to 70 milliseconds. Brokers see software trades as opened manually. Multi-terminal uses an algorithm for hidden arbitrage and masking for different accounts/brokers. One-legged classic, two-legged simple hedging, two-legged locking, and triangular spread arbitrage are used.
The main advantages of Westernpips Private 7 software:
– ultra-fast trading using direct broker access technology via TCP protocol;
– Multi-terminal with unlimited possibilities by fast/slow broker connection method;
– reduced load on VPS and the ability to trade on a huge number of accounts simultaneously;
– Combined trading between FIX API and different broker terminals;
– three new algorithms for two-legged arbitrage for masking and hidden arbitrage between different accounts/brokers;
– all trades look like opened in manual mode (magic=0, the broker will not see the use of the Expert Advisor, trades are marked as manual execution);
– bypassing of plugins due to a new trading method using close arbitrage strategy of entering a trade, when the trade is not opened when the signal appears, but the trade is closed according to the signal;
– the speed of opening trades using the new technology is 15-70 milliseconds faster;
– the time stamp in nanoseconds;
– ability to connect fast quotes through ITCH protocol – the fastest method to receive data;
– powerful analyzer of tick quotes.
The software is positioned as a full-fledged multi-terminal for trading, unlike simple trading experts. It is the most expensive and full-featured software, the price of which is not public. To buy this software, you need to send an application for its purchase at the company’s website. In all likelihood, the price depends on the functionality of the software supplied to the end-user.
|WESTERNPIPS PRIVATE 7 PRODUCTS AND FUNCTIONS||WP SILVER||WP GOLD||WP PLATINUM|
|AVAILABLE CONNECT OPTIONS:|
|Direct TCP connection to the broker||V||V||V|
|Trading using cTrader through FIX Protocol||V|
|Trading by FIX Protocol||V|
|Trade Monitor 3.7 Data Feeder||V||V||V|
|Simple trading through Expert Advisor ()||V||V||V|
|Classic 1 LEG Latency Arbitrage||V||V||V|
|2 Leg (Two-legged) Simple Hedge||V||V||V|
|2 leg (Two-legged) Lock Arbitrage||V||V|
|Multi Leg Spread Arbitrage (trading using spread)||V||V|
|Tick analysis and History analysis.||V||V|
|Number of licenses||FOR 1 PK (VPS)||FOR 1 PK (VPS)||FOR 2 PK (VPS)|
|Discount for an additional license||15%||20%||25%|
|Addition of another FIX broker by request:||V|
|Adding any strategy by request||V|
|24/7 Client Support||V||V||V|
|Help with program setup||V||V||V|
|Free updates within your license price range.||V||V||V|
To my great regret, the Westernpips Private 7 software in question does not have a trial or demo version, so you can independently assess the possibilities of trading, the difficulties of setting up and using it. This is a huge disadvantage – you do not want to buy a pig in a poke, and self-promotion will be of equal zero use in real trading. If you have enough resources to make such complex software, then there is a logical question – have they got to the trial version, or what is there to hide? Just what will be discovered only after the purchase – this discourages this kind of purchase.
Analysis of Westernpips Private 7 software from public sources
In public sources, independent of the company selling the software I have not found positive feedback on this software. On resources that professionally deal with reviews, there is not a single review of either the seller’s website or Westernpips Private 7. For such a business “with a beard” since 2007 – very strange looking. Although at the same time, you can’t call the site a fly-by-night, as of today, April 22, 2022, it’s 11 years 7 months 9 days old.
There is almost no information about Westernpips Private 7 on trading-related forums, there is very little information about the company Westernpips Group, among which it is impossible to single out positive reviews because there are simply none. It is worth noting though, for the sake of fairness, that there are no outright negative reviews either. It seems that the company develops its products for the sake of selling them.
The multi-terminal Westernpips Private 7 from Westernpips Group considered in the review, according to the seller’s statements, has many advantages and unique features in the arbitrage software market, which can only be evaluated after you purchase this software. The company does not provide any guarantees that their arbitrage software will bring profit after purchase, but not destroy the deposit. The absence of positive reviews on independent resources, and inconsistency between the real age of the website and the stated history on the website itself discourage such a purchase.
The advantages of Westernpips Private 7 are in the form of standard and unique trading strategies, and the work of the software with many brokers. The disadvantages – you have to buy software that may not meet expectations because there is no way to test before buying.
Profitability - 8.2/10
Safety of use - 8.5/10
Execution speed - 7.7/10
Сamouflage options - 6.7/10
Customer support - 3.5/10
Usability - 6.9/10
Multifunctionality - 5/10