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What is TraderMetrics?

Tradermetrics is a Windows software application that replicates the Spot Foreign Exchange (forex) market. It runs on Windows XP, 2000, and Vista (see FAQ on Vista installation).

It was originally developed in the 1990s as a training tool for Interbank forex traders and was installed in banks in 34 different countries as well as being used in ACI junior forex seminars in various countries. It was later developed to be a performance monitoring and assessment tool.

There are two main versions: a 'stand-alone' version where the user trades against the PC, using live or canned rates, and a 'network' version, where users trade against each other in a synthetic market.

Quick Guide to TraderMetrics

Click here

for a quick guide to the different screens in TraderMetrics

How do I learn to use TraderMetrics before entering a Virtual Market?

If you have purchased a license for TraderMetrics, you will get access to a comprehensive help system, which will describe all the functionality of the system

Entering a virtual market, especially as a market maker, can be like getting into the gladiator's arena; you will be under stress, from the customers and the other market makers. Therefore, it is wise to practice your skills by working in a 'stand-alone' environment, where you will be trading against the PC. For this, you can use historical rate files, synthetic rate files or live rates.

You need to be practiced in how to use the Electronic Broker, how to handle dealing conversations, and how to handle customer trades generated through the AutoTransact system

There are some differences in the operation of a network trading session compared to a stand alone session, which will be described in this FAQ

Why do I need to have a Dealing Code?

We hope that you will want to participate in on-line virtual trading. To do this, you need to purchase a license for TraderMetrics. In the license file, there is a so-called 'dealing code', or TCID, which will be your unique identifier when you are trading on the virtual market.

We would like you to choose your very own personal Dealing Code

This dealing code is a 5-digit combination of letters and numbers (A-Z,0-9). It can be anything, although some such as FOREX have been reserved. For example, BANK1, METOO, 12345, etc.

The dealing code traces its roots to the real dealing systems, where banks are identified by their moniker in the interbank market

We cannot giuaranty that the code you desire has not been taken, so please supply two alternates. Otherwise, if all three have been taken, we will allocate a code to you.

When you log on to a virtual market trading session, you will be known by this 5-digit code

What do I get out of trading a Virtual Trading Market?

That depends where you are coming from

The problem for retail (i.e. non-interbank) investors is that they stand on the outside looking in. Therefore, most are doomed to lose. You are supposed to make trading decisions based on charts, which are history lessons. The Interbank traders will always win. Why? Because they have the edge; they have access to the flows and they see first hand market action

By becoming the equivalent of an Interbank trader, you will learn the secret of market action and flows and begin to understand exactly what drives prices. Think about it: the succesful traders and fund managers have mainly at one stage been Interbank traders.

You will be able to apply these insights into real trading

If you are a student planning on a career as a professional trader in a financial institution, you will find that getting experience in the Virtual Market invaluable

How is the Virtual Market like Poker?

The forex market is like one big poker game. Especially for the Interbank traders. Because they can only sit with so much risk

So, you are sitting there with a limit of $25 million, with customers appearing now and agian to trade up to $15 million at a time. These customers are your life blood; if you can buy and sell on a stable market, you will earn from the 'spread' between your buying and selling rate. Only your customers and others are selling and buying basing their views on economic necessity, fear and greed, economic data and technical analysis.

A customer sells you $15 million. Is he selling elsewhere at the same time? Does he know something you don't? Now, you have to go into the market place to cover your risk. Just like in poker, you don't want to show your hand. You probe the market, asking other traders for prices, watching what goes on on the electronic broker.

The market ticks down a little. Suddenly another customer sells you $10 million more and you are up to your risk limit. You just have to sell now, but can you get some of the $25 million away by stealth? You put a bid in the electronic broker - yes- a bid - you are trying to bluff the market! You call out to two other traders and hope that they quote a higher price, because they are dumb enough to believe the 'market'. You sell your $25 and some more to these two, and immediately pull your bid out of the market. Now, watch the others panic and the market go down, to a level where you can buy your dollars back at a profit.

So you see the limitless possibilities. At the end of the day, the chart pattern resembles a normal day in the forex market.

If you are a good poker player, you have the chance to become a good forex trader

I have registered and purchased TraderMetrics, but where is my license?

Please be patient. The licensing process is for the present time being carried out manually and there can be a delay due to the demand. Your purchase will be processed within 24 hours

Is this a scam?


Unlike the majority of websites relating to forex, this is 100% genuine

Yes, there is a license fee for the software; however, the way the market works is exactly replicated in this model. There are no hidden 'tricks'. Having said that, we can 'bend the rules' to make competitions possible

If you do get in a situation where you are playing for a real money pot, be careful that the system is not 'rigged'. Make sure that all results are fully published on the appropriate forum. Just like being at a poker game, 'caveat emptor' - let the buyer beware.

Can I try TraderMetrics before purchasing?

Yes, but only in stand-alone mode (against the computer). You have a 15 minute evaluation session so you can try out the functionality. The help system only becomes available on purchase

Installation Issues

TraderMetrics should be 'test run' in evaluation mode before purchasing a license

If there are any installation issues, they are discussed here:

Known Issues

This is a list of known issues. Most bugs have been ironed out in development. However, due to OS system changes or backward compatability (because an even more advanced server was developed and not released), some errors may start occouring.

At the present time, no further development work is being done on the project.

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SP Consult accepts no responsibility or liability resulting from the use of the TraderMetrics software as a gambling or gaming system involving real money, either to the providers or users of such systems. The providers and users of such systems may be subject to local regulatory rules of which SP Consult accepts no liability being solely the supplier of the TraderMetrics software for educational and entertainment purposes.