I’ve just recently started using Oanda MT4 for a strategy that I want to trade live, but I’m feeling uncomfortable with the execution I’m seeing on Oanda demo servers. I reported this to Oanda and also noted at least 1 other user reported a similar issue. I have been seeing this issue during the last several days of demo testing and its unsettling.
I have used MT4 previously with another broker and not had any of these issues. Also, I have used Oanda’s native platform fxTrade extensively and not had these issues either. So I’m hoping Oanda will tell me “no worries – this is just on the demo platform” but wanted to ask here if there are any other LIVE Oanda MT4 users and if this issue affects them.
The issue is that it appears the platform gets out of sync with the server during placing or modifying trade orders. The platform gets hung waiting for a response back from the server, typically for several minutes. Additionally (probably related), I have seen a couple double-orders go through. If I hadn’t noticed and canceled these, they would have resulted in double-risk trades.
The problem is intermittent and happens immediately after entering a new order. The confirmation doesn’t come back, but the system tells you to wait for the dealer. I have tried waiting several minutes, and it always comes back with something like “off quotes”. If you cancel and check back later, it frequently DOES enter the trade order. Bottom line is that the communication is out of whack and you can’t trade like this if its going to behave this way on the live server.
I’m thinking of moving entirely to the fxTrade platform, but was hoping the MT4 platform could work as there are some niceties about it that I like.
