Oanda mt4 truth!

Broker Discussion Forex Brokers
1

I just want to share bout my exp on OANDA MT4. Lot of people said OANDA MT4 bad. But i try to believe on OANDA. But after this conversation, i start to research again for another broker… This is the chat’s transcript:

Transcript of your chat with OANDA

General Info

Chat start time Dec 27, 2012 12:09:10 AM EST
Chat end time Dec 27, 2012 12:48:08 AM EST
Duration (actual chatting time) 00:38:57
Operator Tara

Chat Transcript

info: Please wait for an agent to respond.
info: You are now chatting with ‘Tara’
Me: hello
Tara: How may I help you today?
Me: i wanna ask bout trailing stop on oanda mt4
Tara: Sure
Me: oanda TS on mt4 writen on indicator, script, or EA ??
Tara: You have to set your own TS.
Me: yes
Me: what i want to know are, TS on oanda mt4 writen on what??
Me: on MQL4, there are 3 way to writen
Me: indicator type, script type, or EA type
Me: which one on oanda??
Tara: It will be similar to the Stop loss and take profit on your fxTrade platform. The TS will be sent to our server.
Me: yes, i think so too ^^
Me: so, this should be script type
Me: but why i got 4 times my TS lossing track
Me: whenever i turn off my computer, my TS suddenly gone when i open again
Me: and the fourth, i realize this just a moment
Tara: Yes. In MT4, the TS will be placed on your software, thus when you close the platform, the TS will stop moving. To ensure your TS is moving, you have to leave the platform open
Tara: To prevent this from happening, you can place a TS from your fxTrade platform in your MT4 account
Me: so, i should open fxtrade platform too??
Me: that mean i must open with diff account??
Tara: You have to login with your primary account first into your fxTrade platform, then go to Accounts -> change account -> MT4 account
Me: i already do that
Me: but make new one
Me: not change that
Me: how can i change my first account
Tara: Please explain what do you mean by “not change that” and “how can i change my first account”
Me: i mean, when i had my first account with fxtrade, is that possible to change the first account into mt4 without making new one??
Me: if possible, how can i do that??
Tara: I see, i’m afraid this is not possible.
Tara: The primary account is your fxTrade account
Tara: MT4 has to be a subaccount
Me: so, i already made sub account with mt4 platform
Me: and now mt4 platform got problem on trailing stop order
Me: i ever try ton of TS on another mt4 platform, and the result just not like this
Me: please help my problem ^^
Me: i believe with oanda
Tara: I see, you can go to your fxTrade platform, switch to your MT4 account and then place a TS
Tara: The TS will not stop moving
Me: i already do that Mr/Mrs Tara :slight_smile:
Me: but why i still had problem
Me: if not, i wont ask this thing
Tara: Hold on please
Me: thank u
Tara: which mt4 account are you referring to?
Me: u mean my account??
Tara: yes
Me: my mt4 account??
Me: acc number is: xxxxx
Tara: May i know if you know how to place a trailing stop in fxTrade platform?
Me: only right click and place that with custom points
Me: anything else??
Tara: No i mean in the fxTrade platform, not your MT4 platform
Me: i’m not usin fxtrade platform
Me: i’m usin mt4 platfrom
Tara: I see, if you are using MT4 platform, you cannot close your platform, if you want your TS to move.
Me: why??
Me: is that ridiculous??
Me: why oanda mt4 diff from other??
Me: TS should not like this
Tara: For MT4 platform, the TS will stop moving if you close the platform. If you want your TS to move even if you close the platform, like i mention before, you have to place TS in your fxTrade platform and not your MT4 platform
Me: TS writen with “script type” not “EA type”
Me: this is strange
Me: all of mt4 platform that i try never like this before
Me: on ibfx, on fxdd, forex.com, icnpro, fxcm demo… all of them similar with TS
Me: and i believe on oanda becoz oanda had good reputation like several my mentor said
Tara: Please do not close your MT4 platform if you want the TS to move
Tara: Anything else I can assist you with?
Me: what i want the reason
Me: not suggestion
Me: why TS on mt4 like this??
Tara: MT4 is a third party software that is provided by OANDA, thus the TS is not recorded on the server if you use MT4 to place TS. If you want your TS to be moving, like i mentioned, you have to place it in fxTrade to be recorded in the server.
Me: hmm… i will investigate bout this

Ok, what makes me feel bad are, their customer services suddenly want to end our conversation and try not to understand what their clients want. This is the proof:

" Tara: I see, if you are using MT4 platform, you cannot close your platform, if you want your TS to move.
Me: why??
Me: is that ridiculous??
Me: why oanda mt4 diff from other??
Me: TS should not like this
Tara: For MT4 platform, the TS will stop moving if you close the platform. If you want your TS to move even if you close the platform, like i mention before, you have to place TS in your fxTrade platform and not your MT4 platform
Me: TS writen with “script type” not “EA type”
Me: this is strange
Me: all of mt4 platform that i try never like this before
Me: on ibfx, on fxdd, forex.com, icnpro, fxcm demo… all of them similar with TS
Me: and i believe on oanda becoz oanda had good reputation like several my mentor said
Tara: Please do not close your MT4 platform if you want the TS to move
Tara: Anything else I can assist you with?
Me: what i want the reason
Me: not suggestion "

So, i just make this not to blame them. Coz they had excellent “fxtrade platform” they claim. But if we want to use MT4 on them, my oppinion would say “NOT” with them… :slight_smile:

Please share ur experience who had similar experienced like me on OANDA MT4, and with proof (like chat’s transcript data) that would be more helpful with our buddies who want join on them and usin their MT4 platform.

Spidypips,

2

Hi,

It is well known that in many MT4 platforms Trailing Stop are “program based”, they don’t get registered in the broker’s internal systems.

The guy from customer service tried to explain you to dead this fact. At a certain point he obviously had to close the chat because there are more customers to give service to. I’m impressed he dedicated almost 200 lines to discuss this issue.

regards

3

This thread hurt my eyes.

4

Hi Spidy,

Tara is right and this applies to all MT4 and MT5 brokers. MT4 is client based software. It works as designed.

Your TS is generated on your computer based on your script and send to Oanda when it is triggered by your script. So when your computer is turned off, there is no trigger generated thus not send to Oanda.

What you can do is that you send the TS (When your script identified it) to your broker using OrderModify() [OrderModify - Trade Functions - MQL4 Reference] You can than implement a Sl or TP to your trade that is with your broker. In that case the SL or TP will work when your computer is turned off. But this needs to be done before your computer is turned off.

Drop me a note if I can help you.

Note: Ahh, before I am shot down again and called fake because I made an error (Not by you Spidy). I thought that you had an EA that generates an TS. My answer applies when you have a EA that manages a TS. I don’t use the MT4 TS, my EA makes its own. The first three lines still apply to your question.

5

Thanks for the advice, i will study what u gave me :slight_smile:

What i do are usin TS from my broker, not an EA. So, it should be executed with script. Just only once excecute like SL or TP. And simply, when the order triggered, it can only stopped if reach the target.

" Note: Ahh, before I am shot down again and called fake because I made an error (Not by you Spidy). I thought that you had an EA that generates an TS. My answer applies when you have a EA that manages a TS. I don’t use the MT4 TS, my EA makes its own. The first three lines still apply to your question. "

He already banned Toekan, u can comeback :slight_smile:

Check this link “301 Moved Permanently”
[I]
Additional:[/I]
When i open again with my main computer, TS still in there (on position that proof TS just like SL or TP with script type). This should be OANDA blunder, maybe due to Xmas event and their third party still not ready yet to serve them. I think i will look for several months to proof this is right or wrong.
But i dont like their customer services, she/he answer my question by boldy, not by the truth. She/he doin like knows everything without doin research first. Coz now my TS seems alright again… -_____-

And for Alph, ar u sure bout ur sayin?? Did u seen my word bout already testing it with lot of diff broker, and the result still same… TS will keep running even my computer turned off. I already testing it ton of trades, and thats why i’m so sure what am i doin wrong or right. Maybe u still dont try on TS order or heard that from others people without trying. But i should give thanks to u too, coz this will make us more learn bout this topic :slight_smile:

6

Trade on a VPS already!

7

But i’m not usin EA my buddy. Just Trailing Stop. And Trailing Stop not like EA. Its order created by script type. Not EA type. So, it shouldnt work like EA. But it should work like SL and TP. When we set TS, our broker terminal should be record it and do that for us. TS not entirely involving our personal computer like EA. When set it will trigger for us until they got stopped.

So far, on OANDA MT4 platfrom cant do this thing. I test on another broker demo account like FXDD, IBFX, ECNpro, VantageFX. Their TS workin properly like usual. Not like on OANDA TS. So i will suggest, if we want usin TS and do that on MT4, dont pick on OANDA. OANDA TS will work properly like another broker only when we usin their true platform, “fxtrade platform”.
Hope this topic will help people when choosin on OANDA MT4 platform. :slight_smile:

8

The question posed by you and everyone here is does it reside on your computer or does it reside on the broker’s server. That’s what we are pondering over isn’t it? My point is, if you are running your trading on a VPS, this would be a moot point whether it resides on broker’s server or on your side.

And yes, on MT4 platform, trailing stop resides on the client’s side. Meaning, your computer must be running! The trailing stop does not reside on your broker’s server.

SL and TP are broker side!

This is not your broker’s blunder. You stated that you turned the computer back on. Meaning, you turned it off. Which means your MT4 was not running. SL and TP gets registered on your broker’s server! TS does not! In order for your TS to function, your computer must be running non-stop and your MT4 must be running non-stop. I gotta give kudos to that customer service agent for being so patient with you. I don’t think I would have put up with your insulting condescending tones either.

9

It’s not helpful at all, you don’t understand mt4. OANDA mt4 platform is fine. I am guessing this is where a lot of poor broker reviews come from LOL. TS have worked the same in metatrader for years. The reason they recommend using their platform is to set the trailing stop set server side.

This is straight from OANDA’s FAQ section.

"Does OANDA MetaTrader provide offline trailing stops?

No. The trailing stops on the OANDA MT4 platform operate on the client machine. This means that they are hosted on your computer. If your computer is not running with OANDA MT4 running, the trailing stops are not being tracked and will not close any trades. To ensure your trailing stops are always being tracked, even when you’re offline, create them using the fxTrade platform instead."

I am sure a lot of customer service get asked the question all the time.

I prefer MT4 native as possible and not loaded up with plugins from a broker.

10

[I]And yes, on MT4 platform, trailing stop resides on the client’s side. Meaning, your computer must be running! The trailing stop does not reside on your broker’s server[/I]

Sorry, but no offence… jonnyrich007, u dont know anything bout trailing stop but try to comment this post. Trailing stop usually not from our but on their server. Try ur self on several different broker that usin MT4 as their primary platform. And not just only one broker!! Test several of them!! After that, u can come here again and give me ur comment :slight_smile:

[I]Additional:[/I]
U will know better after try to study more writing MQL4 (Meta Quotes Language 4). And see ur self if TP, SL, and TS had writing on script type (different type or not)

Yeah, u right dan82au. And thanks for ur notification, i already check that.
Becoz i had small mistake not reading OANDA’s FAQ section thorough, now i got what i dont really want -___-

I already get verification by my self on oandafrontdesk. And got clearly answer bout my problem. And even their project for developing more on MT4 platform. But i dont see Trailing Stop order as their development project for the short time.
So, the best solution for me are quit with them. I already found new old fashion and credible broker that answer my problem correctly :slight_smile:

11

so sad to hear this story, try another good broker. I am not getting such a problem with roboforex.

12

Hmmmm, the two brokers I’ve been with (Go Markets and Pepperstone) required that I have MT4 running if I decide to use a trailing stop through MT4.

13

When u tell me this, i do several research on them. And I found the reason behind Go Markets still need our mt4 running. They provide lot of trading platform. Due to that fact, they must maintain lot of platform at once. As the result, they use third party too like OANDA do :slight_smile:

[U]Ok, this is my research result for that:[/U]

Oanda --> 2 platforms --> fxtrade (1) + mt4 (2)
Go Markets --> 3 platforms --> fx copy (1) + mt4 (2) + mt5 (3)
Pepperstone --> 5 platforms --> mt4 (1) + mt5 (2) + Physical FX (3) + MAM/PAMM (4) + FIX API (5)

What i mean are, broker that only usin mt4 as their main trading platform Kevin LaCoste ^___^

14

Hi nice work there on the post. But I must say that you are right . But what I do is when I close my mt4. Oanda on my iPhone is Always open and the TS automatically goes on oanda on iPhone and keeps moving… But it is weird that TS on mt4 PC don’t keep moving.