“Off quotes” is the MT4/MT5 error message and means no price is available in the Metatrader platform. This error can appear in Metatrader in two scenarios: if there is a break in connectivity with the platform or the best price for the pair you’re trading is not within your “maximum deviation” range you have set.
Are there bad forex brokers out there?
As traders, we are forced to rely upon Forex brokers to be able to trade. Without them we would have no way of placing orders and no way of earning money. The trouble is that there are some bad brokers out there in the world, and likely there are more bad brokers than there are good forex brokers.
What is a quote in forex trading?
A forex quote always consists of two currencies, a currency pair consisting of a base currency and a quote currency (sometimes called the “counter currency”). These pairs represent the currencies you’re trading.
How to choose a good forex broker?
You need to carefully evaluate and sort through several different brokers to find the right one sometimes. If you have a good tip from a friend who is also in forex then this might be your golden ticket to a good broker.
How do forex brokers cheat?
Spreads will increase naturally during high-impact news events, and especially when market volume is low (end of day trading times for example). Another way that fraudulent brokers cheat their clients is through stop hunting. Brokers know where their clients place their stops.
What does it mean when MT4 says off quotes?
This means that there have been no new prices on the selected instrument for some time, and these last prices can no longer be treated as market prices. For this reason, when you try to execute an order at these prices, the trading server returns an ‘Off quotes’ message and denies execution.
What to do when MT4 says off quotes?
How to fix off quotes errorsUse a larger maximum deviation. Using a larger deviation makes your broker more flexible in filling your order within the deviation range. … Customize your MT4 EA (Expert Advisor) … Check your internet connection.
How do you add quotes to MetaTrader 4?
Navigate to the ‘Quotes’ tab and Press the ‘+’ button on your phone at the top right hand corner: This will open a sub-menu: Navigate through these groups until you find the pair you require and tap to add to your Quote List: Was this article helpful?
Why does my forex account say not enough money?
“Not enough money” means that there is not enough margin on your account to open a position of the desired volume.
How can I add US30 to MT4 mobile?
How to trade US30 on MT4Register your account. Register your account with TIOmarkets, it only takes a few minutes and this will take you to your secure client portal.Open a demo or live account. … Download the MT4 trading platform. … Deposit funds. … Transfer funds to MT4. … Log in to MT4.
How do I add US30 to MT4 app?
How to add US30 to MT4 Market WatchRight-click anywhere inside the Market Watch window -> click Symbol.Select the CFD Cash or CFD future.Double-click the US30 to add them to the Market Watch window. Alternatively, you may click on the instrument(s) and click Show in the right hand.
Does MT4 have tick charts?
Since there is no tick-by-tick history in Metatrader 4, the indicator can not show you tick charts of the past. This is simply impossible. The chart will start from the time you launched the indicator and last as long as the indicator is running.
How much money do you need for Metatrader 4?
Having used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for more than a decade, I wanted to create a comprehensive guide for traders….Best MetaTrader (MT4) Brokers.Minimum Deposit$200Tradeable Symbols (Total)35831 more row•May 16, 2022
Why is MT4 telling me not enough money?
Why am I getting the error ‘Not enough money’ when trying to open trades on my MT4 account? If ‘Not enough money’ massage pop up it means that there is not enough money to cover the margin requirement on the account, you will need to fund your account or close some/all open trades if any to free up margin.
What does it mean when mt5 says not enough money?
This error occurs when a trader attempts to open a trade but there isn’t enough funds to cover its costs; check details about the margin and spread cost of a trade action for more. Margin: This is the security deposit held for keeping the trade open.
Why is Forex so popular?
Except for times of major market turbulence, any significant differences in quotes are momentarily negated through an automatic arbitrage. By extension, this also means that any one quote is only valid for a brief second.
What currency pairs are used in forex?
Among the major currency pairs, the only two where the US dollar is the base currency are: USD/JPY and USD/CHF. The first pair is easy to guess, as it’s simply the US dollar against the Japanese yen. However, the second pair, which is the US dollar against the Swiss franc, is more difficult. This is because the CHF code references the old Roman name for Switzerland, ‘Confederatio Helvetia’.
Why are currency pairs quoted?
The reason for this is simply because in order to express a value of anything, you need something else to compare it to – or in our case, to quote against. For example, EUR/USD is a currency pair where the value of the euro is expressed in US dollars. The first currency in all Forex trading quotes – in this case the euro – is known as the base currency, while the second one is known as either the counter currency, the term currency or the quote currency.
What do you learn about financial markets?
For most traders, one of the first things that they will learn about when studying the financial markets is reading Forex quotes. As the language of the markets, in order to be a success, Forex traders must be fluent in trading quotes. Although it can look quite daunting, the good news is that reading Forex trading quotes is pretty intuitive, and doesn’t require too much mental effort.
How to tell how much a euro is worth?
The first number is called the bid price. This is simply how much the market bids for the currency. Or in other words, how much you will get in dollars if you sell one euro. The second number is the ask price. This indicates how much in US dollars the market is asking for a single euro, should you choose to buy it. So the whole quote says: one euro is worth 1.1234 US dollars if you are selling or 1.1235 if you are buying. Note, the bid price is always smaller than the ask price. This difference in price, which we will look at below, exists for all currency pairs and all financial markets.
Why are spreads good for forex?
Smaller spreads are generally good for Forex traders, as smaller fluctuations in exchange rates make it easier for trades to become profitable. Most traders know that every transition in the Forex market involves buying or selling at the opening of an order – and, reversely, selling or buying at closing.
Does Admiral Markets have MetaTrader?
Did you know that Admiral Markets offers an enhanced version of MetaTrader that boosts trading capabilities? Now you can trade with MetaTrader 4 and MetaTrader 5 with an advanced version of MetaTrader that offers excellent additional features such as the correlation matrix, which enables you to view and contrast various currency pairs in real-time, or the mini trader widget – which allows you to buy or sell via a small window while you continue with everything else you need to do.
What does it mean when MT4 says “Off quotes”?
There are mainly 2 cases when the “Off Quotes” message appears on MT4 platform. 1. Orders that don’t follow the rule. Any order that breaches a limit set by the broker, will be rejected by the server, which can result in an ”Off quotes” message.
Why won’t my MT4 order be executed?
If your MT4 platform wasn’t connected to any markets due to some problem (on your side, broker’s trading server or MT4 server), your order won’t be executed.
What are the parts of a forex quote?
There are two parts to a forex quote , a bid and an ask . Here’s another forex quote that helps make clear the meaning of these terms in the forex market:
What is a pip in forex?
One of the terms you’ll often hear in forex contexts is the pip. A pip is a unit of measure, and it’s the smallest unit of value in a forex currency quote. So, in the example
What is the currency of a pair called?
The first part of the pair is called the base currency, and the second is called the quote currency. Popular, often-used base currencies include EUR ( Euros ), GBP (British pounds) AUD (Australian Dollars) and USD (US Dollars).
What is a bid and ask price?
In a quote, the currency pair is often followed by a bid and ask price, which will reveal the spread and the number of pips between the broker’s bid and ask price. Understanding these terms in a little more depth can help you as you get ready to set up your initial trades.
How much does 1.3600 mean?
The quoted amount, 1.3600 is the amount of the quote currency, USD, it takes to equal 1 unit of the base currency, EUR.
Who is the most famous forex trader?
George Soros is by far the most legendary Forex trader in the world.
What are the two extreme types of traders?
There are 2 extreme types of traders in the world…. The first type of trader is those who are so afraid of losing that they can’t get into a trade. This is the type of trader who when a valid trading signal comes up, will have excuses as to why it’s not going to work out. And thus he misses out on all his trades.
What does it mean when your trading system isn’t profitable?
Think of your trading system as an experiment. That means you separate the trading system’s performance from your own. If the trading system isn’t profitable after 100 trades, it doesn’t mean you have failed. It means you just have to continue working on tweaking your trading system until it’s profitable.
How much risk should novice traders take?
Novice traders trade 5 – 10 times too big. They are taking 5 to 10 percent risk, on a trade they should be taking 1 to 2 percent risk on.
What does the quote “I’ve chosen” mean?
In this quote that I’ve chosen, it shows that he never lets his ego or conviction overtake what the market is telling him.
Why is Scott Ramsey called the low risk futures trader?
Scott Ramsey is dubbed the “Low-Risk Futures Trader” in the Hedge Fund Market Wizards book by Jack Schwager because he only risks 0.1 percent on each trade. However, that’s because he manages a sizable fund so while percentage-wise it’s small, nominal-wise it can be pretty huge.
What does it mean to know when to cut your losses?
That means you need to know when to cut your losses when the market goes against you.
How many times does a forex trader have to buy or sell currency?
One of approximately five times during the forex trading day when a large amount of currency must be bought or sold to fill a commercial customer’s orders. Typically these times are associated with market volatility. The regular fixes are as follows (all times NY):
What is the base currency for forex?
In the forex market, the US dollar is normally considered the base currency for quotes, meaning that quotes are expressed as a unit of $1 USD per the other currency quoted in the pair. The primary exceptions to this rule are the British pound, the euro and the Australian dollar.
What is the currency of a currency pair?
For example, if the USD/CHF (U.S. Dollar/Swiss Franc) rate equals 1.6215, then one USD is worth CHF 1.6215. In the forex market, the US dollar is normally considered the base currency for quotes, meaning that quotes are expressed as a unit of $1 USD per the other currency quoted in the pair. The primary exceptions to this rule are the British pound, the euro and the Australian dollar.
What does “ask” mean in FX?
In FX trading, the Ask represents the price at which a trader can buy the base currency, shown to the left in a currency pair. For example, in the quote USD/CHF 1.4527/32, the base currency is USD, and the Ask price is 1.4532, meaning you can buy one US dollar for 1.4532 Swiss francs.
How many pips does a currency move?
Refers to the first three digits of a currency quote, such as 117 USD/JPY or 1.26 in EUR/USD. If the price moves by 1.5 big figures, it has moved 150 pips.
What is a no touch option?
In a no-touch barrier, a large defined payout is awarded to the buyer of the option by the seller if the strike price is not ‘touched’ before expiry. This creates an incentive for the option seller to drive prices through the strike level and creates an incentive for the option buyer to defend the strike level.
What is ASX 200?
A term for the Australian Securities Exchange (ASX 200), which is an index of the top 200 companies (by market capitalization) listed on the Australian stock exchange.
How many requirements to be met at the same time to make money through forex trading?
Making money through forex trading needs 3 requirements to be met at the same time:
What is requoting in market maker?
Re-quoting is another trick made by market maker brokers. When the price is going up strongly, and you choose the right direction to enter (you click on the buy button), the broker delays for few seconds, and then instead of taking the position for you, gives a new price which is higher than the price you want to enter (because the price is going up strongly).
How to know if a broker is adding markups?
Sometimes they tell you that they are doing it. Many of them believe/claim that it is their right to add markups while they charge commissions also. Many of them deny it, and claim that the spread they offer is the normal forex market spread. You can easily compare their spread with the market’s normal spread. If it is 1-3 pips above the regular spread, then they are adding markups to the spread. Nowadays, the liquidity providers offer a very low spread, as low as 3 pips for GBP/JPY that was used to have a relatively high spread in the past. If an ECN/STP broker doesn’t add any markups, then its spread must be very low.
Can ECN/STP brokers cheat?
This is not true. ECN/STP brokers can cheat to make more money. 1.
Can a real ECN/STP broker offer leverage?
So a real ECN/STP broker never supports a leverage higher than 100:1. However, market maker brokers can offer any leverage they want.
Do market makers add markups?
It doesn’t make sense for a market maker broker to add markup. The spread they offer is completely in their own control, and they don’t get the spread from a liquidity provider. Therefore, they can increase the spread directly and they don’t have to add markups.
Who trades through banks?
Many professional traders, hedge funds, money managers, proprietary trading firms, and institutional traders who have large trading capitals, trade through the banks. Some of them have their own custom made platforms connected to the liquidity providers.
What is the final aspect of choosing a forex broker?
The final aspect in choosing a forex broker is reputation. Only a few brokers have well deserved reputations and are loved by their clients, while some brokers are despised by many. No broker is 100% perfect, but how they handle certain market conditions helps establish their reputation .
What is the second type of Forex broker?
The second type of Forex broker is called the Non-Dealing Desk (NDD). NDD brokers do not take the opposite side of their client’s trade.
What is NDD broker?
NDD brokers can be Straight Through Processing broker (STP), Electronic Communication Broker (ECN), or a hybrid of STP and ECN (STP+ECN).
What is Forex market?
The Forex market is a decentralized area where no actual marketplace exists for the trader and where there are no “standards” in the exchange rate. Brokers offer various deals to their traders and while the investment is your decision, you must rely on your broker to make the transactions for the trade.
Why does a broker slip?
A very volatile market condition and lack of liquidity can force a broker to apply a slippage on the currency price. This occurs when a position is executed away from the average spread. This usually happens during major new releases because of increased market volatility.
How does a dishonest broker gain trust?
Many times, a dishonest broker gains a customer’s trust by being smart and targeting unaware people. Taking advantage of this trust, the broker can encourage their client to trade on margin and set stop loss orders which allows the market makers to close out trades almost at will during strong markets, at prices they have set. If the market maker does not offset the trader’s position, the loss generated when a stop loss is triggered becomes the market maker’s gain. You can see how this is not in the best interest of the trader, but rather only in the interest of the broker.
What happens if the market moves against your position?
If the market moves against your position, margin levels are increased and you may be called upon to deposit additional funds into your account to maintain your position. If you failed to comply with your broker’s request within the prescribed time, your broker may close out your position and you may be liable to pay any further losses.
Trading Quotes Value
What you might be bothered with as a trader are the dynamics of the latest Forex trading quotes. This conveniently brings us to reading the price of a currency pair. The price is the very thing that indicates the current dynamic of a currency pair and it will often provide the basis for whether a trade should be made. To follow on with our example, we are looking at a currency price of 1.12…
There is more information we can obtain from Forex live trading quotes. For instance, the spread can be a useful piece of data for Forex traders. The spread is simply the difference between the bid price and the ask price. It is measured in pips, points, or ticks – which is typically the fourth digit of a quote after a dot. Let’s consider our running example of EUR/USD priced at 1.1234/1.12…
Thanks to the interconnectivity of all traders, Forex quotes represent the best price available on the market at any given time. That’s why Forex is a popular choice for investors – it’s the most liquid market in the world. Except for times of major market turbulence, any significant differences in quotes are momentarily negated through an automatic arbitrage. By extension, this also mean…