When I first started algo-trading just about a year ago, I didn’t appreciate the importance of the vender having full access to your VPS. I understand the benefits of this better now.
This weekend, the broker used by a large number of Americans, OX Securities, is having a server migration. Most algo trading bot companies wouldn’t care. They might send an email (NURP has done this), but otherwise the bot users is on their own.
Why does EFX care more? There are a couple of reasons.
- Obviously, they want their users to have a positive experience with their bot. A happy customer tells his friends, family, and blog readers about his experience. If EFX-users who are tech-averse know their bot is always taken care of, it is a big selling point.
- Until EFX does the upgrade to their trading bot, their bot continues to be more temperamental when making changes to the MT4 trading software. To make sure all of the Octane bots continue to work correctly after the server migration takes place, the login back to the server must be done correctly. If not, the bot is at risk of duplicating some of the existing trades. If these duplicate trades make money, lucky you! If they don’t, then you’ll give back some profits. Knowing EFX will verify this is completed correctly eases my mind. (In fairness, most other bots, including the NURP bot family, remember the trades after changes to MT4 are made. The server migration for NURP is still an “event”, but with far fewer consequences.)
Maybe because EFX cares a little more, they did some legwork and sent out this email this morning:
I wanted to provide you with a brief update as we approach the weekend…
Last night, I had a phone conversation with OX, and they confirmed that only two EFX clients will be impacted by the upcoming server migration, which is excellent news!
Please be aware that OX will be sending a mass email and text to all users. Receiving one of these messages does not indicate that your account is affected—they are being distributed to everyone.
My team is fully informed about the specific accounts that will be impacted, and we are ensuring that everything proceeds smoothly.
Should more clients be affected than expected, my team is prepared to intervene and take immediate measures. In the technology sector, we always hope for the best while preparing for every possible scenario.
Wishing you a wonderful weekend, and we will keep you informed as necessary!
I did receive an email from NURP today, too. They were offering training on how to address the server migration issue. While they don’t log into VPSes and address issues, they do take care of their users, too.