Im new to forex and had just downloaded MetaTrader4. However, every currency i try to buy i get an off quote error. I googled it and found out that it might be techinical issue and i can solve it at myfxcm.com with my fxcm read-only login but i dont know whats the FXCM read-only login account because i don’t have an account for my MetaTrader4. I only have the demo account. How do i solve this?
Try to get some help from the customer support at FXCM or else you can try other demo accounts provided by different brokers.
Im also currently using a demo account if it helps
Did you contact your broker and ask them about it? I have experienced it, but then again I have never wasted my time with a demo account. My suggestion is that you contact your brokers support and ask them for a solution, that is what they are there for.
Just found out the problem. I need to enable maximum deviation to 10pips so that i can buy without off quote error. Not sure why though because my friend can buy without enabling maximum deviation. And also is metatrader4 a broker by itself?
1 Like
Hi Insanelalala,
Glad you were able to find the solution 
That “off quotes” message will appear if the best price currently available is in the market is outside of the Maximum Deviation range you have set for the order. The Maximum Deviation setting allows you to control slippage by setting a maximum deviation of pips from the order price submitted that you are willing to be filled, but if you are trading during volatile market conditions then a tight maximum deviation could cause your order to be rejected based on fast market movement.
Just to clarify though, since FXCM quotes prices to 5 digits past the decimal point, the last digit is only one-tenth of a pip. That means the max deviation setting on MT4 is actually only one-tenth of what it appears. A max deviation set to 10 is actually only 1 pip. A max deviation set to 30 is actually only 3 pips.
Our Trading Station has a similar feature called Market Range, but on the Trading Station, when it says 3.0 pips, that’s accurate and actually means 3 pips.
Also to answer your question, MetaTrader 4 is not a broker themselves. It’s a trading platform made by a company called MetaQuotes. Since it’s a 3rd party software, you’ll actually find that many brokers offer MT4. What differs would be the trade execution and support provided by the broker. FXCM offers MT4 along with our own Trading Station platform. Your MT4 demo login will actually work on the Trading Station platform as well. If you have any other questions about your FXCM MT4 demo, feel free to hit me up in the Broker Aid Station.
Welcome to the forum :57:
Jason
Oh! So when people ask me what broker i am using, i would say FXCM right? Is it the default broker of MT4? Because i downloaded MT4 and register a demo account without knowing which broker it is.
No, MetaTrader4 is not a broker, it is a platform. You most likely downloaded it from a broker and it may be branded like it is their own.
MT4 just a trading platform.Try to find a good broker by yourself. Don’t worry about MT4. It comes as a free product with most of the brokers.
I downloaded MT4 from metatrader4.com though. So im quite confused what is my broker now. How do i check what broker am i using?