Help to understand Metatrader difference between ask/bid price

Beginner Questions
1

Hi,

I need some help please to understand why the Metatrader bid/ask price is different to the price that the trade is actually executed at?

For instance I execute a buy order, but the buy line it places in my chart is actually above where the bid or ask line was at that time.

Can anyone help please?

Noob

2

If you’re long CADJPY, you are going to buy @ the ASK price and close the position @ the BID price.
If you’re short CADJPY, you are going to sell @ the BID price and cover the position @ the ASK price.

3

Ok thanks - but that doesn’t seem to happen or I’m not understanding.

Like the below, why is the one click trading price different to the chart line price?

pic.jpg700×260 37.7 KB

4
  1. can’t tell from the pic, very low res
  2. [B]if[/B] price quoted at “buy” tab is different than the price of the same color line on the chart, [B]then [/B] there must be something wrong with either the platform version/install or the broker. same for “sell” price with white line.
5

OK - if I execute a buy order, should it execute at the exact value that the bid chart line is at at that time?

I am using my brokers version of Metatrader4 - is it best to use the original Metatrader4?

6

It looks like an error. You should ask the broker about this, something isn’t right. :56:

7

Just so I know what to say to the broker - am I correct in saying that the one click trading price, the chart line price and the price that my order is executed at should all be the same?

8

Yes!

…

9

OK I never knew! I will ask the broker and see what they come back with

10

They have said that they can’t do anything about it because it’s a setup from their MT4 provider.

The reason apparently is because they have three different account types with different spreads so the price in the chart window is the ‘overall’ of the three spreads. I presume they mean average?

Would the only way to sort it be to download and use Metatrader from the metatrader website rather than using the brokers version of metatrader?

11

or find a serious broker

PS. btw which broker is you are having this problem with? Thanks

12

Am using forex broker inc. The reviews said they were quite good but maybe not?

What broker would you suggest?

13

thank you for the info

as for recommending, i’m sorry i cannot do that, yet there are many -serious- brokers that do not cheat out there but on the other hand their spreads are quite high;
it’s demo, mini account, demo, mini account and so on…until i make it big time that is.

14

That’s a BS answer, time to look at new brokers. I’d start by taking a look at these links.

School of Pipsology Brokers 101

How to Choose a Forex Broker - BabyPips.com

Then download and test drive demo accounts from all the brokers that might meet your requirements.

I think you’ll find the bigger and more popular brokers located and regulated in your country/region of the world will be your best choices. :wink: