Oanda's MT4

Hi

Seen a few older threads saying how bad Oanda MT4 platform is. I have not had any problems personally in the 4 weeks i been using it (demo account) but anyone got experience on the ‘live’ version?

Also I noticed that it says the candles are automatically set to use the bid price to build the candle but the Oanda fxTrade platform (which by all accounts is very good) uses the mid point of the bid & ask to build the candles. Is this going to have a big difference in terms of analysing the charts?

Thanks again

I don’t know, I’ve never used the live platfrom, I prefer the Web platform for trade execution, and I think a lot of people like that.

The only difference the average price and bid price will practically make is at news announcement times, when the spread is higher, so it really shouldn’t affect your analysis.

I also did not use Oanda MT4 platform so far.

Ok thanks for the replies. I think I will use the web platform for placing trades but can I ask which broker you use MT4 through and if they have 5 or 6 candles each week?

Brilliant I was jsut about to make a post about the MT4 platform

For oanda, do you need a minimum deposit to use MT4 or is it available for all?

Trying out a demo account right now… but not too fond of the web based platform. Maybe I need more time with it, but compared to other platforms like VT trader and MT4 I find it less intuitive.

Also do quotes differ between web based and mt4? would it be possible for me to use MT4 for analysis/ finding entry points and then place the order on the web based platform?

(sorry if these are stupid questions or in the wrong place)

Yep thats what we are saying. Use the we based platform for placing trades and mt4 for analysis. My question was basicaly asking if oanda mt4 was any good for analysis as there have been many reviews about price delays etc. So yes there could be differences in pricea between mt4 amd their web based platform. Also on oandas mt4 min pip value is different to web based platform.

thanks for replying, sorry to make you repeat it - I guess I only skimmed it earlier.

going to try set up the MT4 platform again when I get home!

the execution on the java platform is much much faster than the MT4. especially on live accounts. Although it can sometimes be seen on demo . I have delved into that problem and it turns out its because MT4 is a 3rd party software and it must check the client and the brokers server for price and order info several times. So you get an error placing orders, or lag and massive slippage. The feed and charting are fine but execution on the Oanda made java client is much faster because it isnt 3rd party and works on the direct feed from the broker.

i have a live trading account with oanda and use mt4 platform. the tp setting does not work even after price cross the tp target.

You should never judge a broker and what they offer based on a demo account. You will have different people telling you that it is good or bad so the best advice I can give you is open a live account and see for yourself if it suits you or not.