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  1. #1
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    OANDA MetaTrader4 discussion

    Has anyone try Oanda MT4 live account?

    any review, tks.

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  3. #2
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    Quote Originally Posted by awsl View Post
    Has anyone try Oanda MT4 live account?

    any review, tks.
    yes, I have live account before and I open a subaccount and choose MT4 so I have one account that I can trade in mt4, you can free and very quick transfer money from your primary account to the sub account , so you can start to trade in mt4 , I have the feeling it is slow more then the Java Platform.
    and I trade still at the Java Platform.

    my mt4 chart broker is a real account at Alpari UK , is for me the best one

    cheers

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  5. #3
    Gold Member Array JasonKwok's Avatar
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    I was using their practice account and found that their MT4 will drop your EA Magic Number for pending orders. Example, If the EA issue a Sell Stop, Sell Limit, Buy Stop or Buy Limit, after these pending orders are fill, the trade losses the EA magic number and if your EA control and monitor its trades using the Magic Number, the EA will lose control of these trades!

    However, EA that uses Market orders only, the Magic Number is retained and EA can still monitor and control its own trades.

    For both types of pending and market orders, the Comments field also being overwritten by their remarks. Guess Oanda is using a bridging software or gateway between their MT4 and their main server.

    The plus points of Oanda are their spread is tight and Oanda pays interest for the balance in the account.

    So, the only solution to resolve the lost of Magic Number for pending orders is to use one sub-account for each EA that uses pending orders and re-code the EA to control and monitor every trade in the account. For EA that uses Market orders only, it's alright.

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    Platinum Member Array fx4_ever's Avatar
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    I, same as harry007, have Java platform account with Oanda and just opened MT4 sub account. I haven't trade using their MT4 platform on live account yet, but used demo account for testing. If live account is same as demo account, it's little bit different than other MT4 brokers.
    First, when I trade with EA, it doesn't record the name of the EA on the comment column. I hope Live account doesn't do this. you'll see Interest calculation applied to the account more often than other MT4 platform. So, if you are considering the EA trading, you may want to code to include swap fee when closing the trade. Especially like Grid or Basket type trading. Example: if your EA is coded to close if profit = 0 and not include swap, you maybe ended up with negative if it is swap negative position.

    If anyone actually able to trade on Oanda MT4 using EA, can someone verify if you see EA's name/magic# on comments column?
    Also, can someone verify Oanda's server time offset during summer and winter? Is it GMT-4 or GMT-3 ?

  7. #5
    Platinum Member Array fx4_ever's Avatar
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    Quote Originally Posted by JasonKwok View Post
    I was using their practice account and found that their MT4 will drop your EA Magic Number for pending orders. Example, If the EA issue a Sell Stop, Sell Limit, Buy Stop or Buy Limit, after these pending orders are fill, the trade losses the EA magic number and if your EA control and monitor its trades using the Magic Number, the EA will lose control of these trades!

    However, EA that uses Market orders only, the Magic Number is retained and EA can still monitor and control its own trades.

    For both types of pending and market orders, the Comments field also being overwritten by their remarks. Guess Oanda is using a bridging software or gateway between their MT4 and their main server.

    The plus points of Oanda are their spread is tight and Oanda pays interest for the balance in the account.

    So, the only solution to resolve the lost of Magic Number for pending orders is to use one sub-account for each EA that uses pending orders and re-code the EA to control and monitor every trade in the account. For EA that uses Market orders only, it's alright.
    Hi JasonKwok, you've answered my question about Oanda not keeping the EA's name/magic#. Thanks for the info. I noticed for some reason, some EA's using StopSell/StopBuy orders are not placing on Demo platform. I don't know why... Still trying to figure this out. Example: I am running 2 EAs. (not at the same time, just trying to test all possible scenario). EA1 and EA2 both are using pending orders. On Oanda's platform, EA 1's pending orders are placing without any issues. However, when I use EA2, I keep getting re-quote, Context busy, etc... but, immediately, I switch to EA1, it placed orders without any problem. I am going nuts over this issue. Anyone have same/similar experience?
    Last edited by fx4_ever; 03-28-2011 at 01:19 PM.

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