TickValue with EURUSD includes exchange rate?

Doerk Hilger  

Hi,

The specifications in general are as shown in the picture. The focus should be on Profit-currency, which is USD. This means, EURUSD  traded with 1 lot means a change of 10 USD per pip. To calculate the final change per pip with the given account, I need to convert on top from the profit-currency to the account-currency. From USD to EUR this is a factor of <>0.85 (based on 1.17 current exchange rate). 

The tick value obtained by

SymbolInfoDouble("EURUSD",SYMBOL_TRADE_TICK_VALUE);

returns 0,85. In other words, the exchange rate is included, whereby the profit-currency is still USD. Shouldn´t the tick value be 1? When I compare EURUSD to any other symbols, which also have a profit currency set to USD, the tick value is always according to that, never like its here with EURUSD.

Alain Verleyen  
Doerk Hilger:

Hi,

The specifications in general are as shown in the picture. The focus should be on Profit-currency, which is USD. This means, EURUSD  traded with 1 lot means a change of 10 USD per pip. To calculate the final change per pip with the given account, I need to convert on top from the profit-currency to the account-currency. From USD to EUR this is a factor of <>0.85 (based on 1.17 current exchange rate). 

The tick value obtained by

returns 0,85. In other words, the exchange rate is included, whereby the profit-currency is still USD. Shouldn´t the tick value be 1? When I compare EURUSD to any other symbols, which also have a profit currency set to USD, the tick value is always according to that, never like its here with EURUSD.

The tick value should ALWAYS by in account currency.

If the symbol's settings are incorrect you need to talk to your broker, they set the settings on the server side. As a side note, don't expect to find highly skilled IT people there.

Doerk Hilger  
Alain Verleyen:

The tick value should ALWAYS by in account currency.

If the symbol's settings are incorrect you need to talk to your broker, they set the settings on the server side. As a side note, don't expect to find highly skilled IT people there.

Is this obligation described/defined somewhere?

Actually all my partner-brokers are highly accurate with stuff like this. We don´t cooperate with such, who don´t care about it. 

Alain Verleyen  
Doerk Hilger:

Is this obligation described/defined somewhere?

Actually it's obvious, what else could it be ?

Actually all my partner-brokers are highly accurate with stuff like this. We don´t cooperate with such, who don´t care about it. 

The broker is the one configuring the server, or at least responsible about it, if your values are not correct talk to your broker, what's your point here ?

What broker are we talking about ?

Doerk Hilger  
Alain Verleyen:
Actually it's obvious, what else could it be ?

The broker is the one configuring the server, or at least responsible about it, if your values are not correct talk to your broker, what's your point here ?

What broker are we talking about ?

Imho its not obvious, cause every symbol has different currencies, especially one for profit. And due to the circumstance, that this occurs only with EURUSD, I don´t think its kinda general. 

Its the way to calculate the profit by ticks, and in combination TickValue/Accountcurrency it should lead to correct results - which it does with all our brokers and all their symbols, but not this one. 

Alain Verleyen  
Doerk Hilger:

Imho its not obvious, cause every symbol has different currencies, especially one for profit. And due to the circumstance, that this occurs only with EURUSD, I don´t think its kinda general. 

Its the way to calculate the profit by ticks, and in combination TickValue/Accountcurrency it should lead to correct results - which it does with all our brokers and all their symbols, but not this one. 

Why asking on the forum when you don't want to listen the answer anyway ?

For the last time, it's a BROKER issue. The BROKER set these values.

Fernando Carreiro  
Doerk Hilger:

Imho its not obvious, cause every symbol has different currencies, especially one for profit. And due to the circumstance, that this occurs only with EURUSD, I don´t think its kinda general. 

Its the way to calculate the profit by ticks, and in combination TickValue/Accountcurrency it should lead to correct results - which it does with all our brokers and all their symbols, but not this one. 

On my brokers, the tick value of EURUSD is always 1.0 when the account currency is in USD! In fact, it is 1.0 for all symbols ending in "xxxUSD". Is that not the case for your brokers?
Doerk Hilger  
Alain Verleyen:

Why asking on the forum when you don't want to listen the answer anyway ?

For the last time, it's a BROKER issue. The BROKER set these values.

The translation for imho is - in my HUMBLE OPINION. Bad day?

The broker told me, they cant change this. As you see in the screenshot, the tickvalue for forex is not even shown. 

Futhermore you mentioned, that the TickValue should always be in the account currency, so did I get you right, that this means, that it´s correct, that 1.0 is not correct, even when the profit currency is USD and it´s correct with 0.85 instead? This would mean, that the tickvalue would change permanently. 


Fernando Carreiro:
On my brokers, the tick value of EURUSD is always 1.0 when the account currency is in USD! In fact, it is 1.0 for all symbols ending in "xxxUSD". Is that not the case for your brokers?

That´s what I also assume how it should be, but it isn´t. Weird. 

Alain Verleyen  
Doerk Hilger:

The translation for imho is - in my HUMBLE OPINION. Bad day?

Not a bad day at all. Seems just like some misunderstandings between us.

The broker told me, they cant change this. As you see in the screenshot, the tickvalue for forex is not even shown. 

Can you say me which broker it is, so I can check by myself ? (in private if needed).

Futhermore you mentioned, that the TickValue should always be in the account currency, so did I get you right, that this means, that it´s correct, that 1.0 is not correct, even when the profit currency is USD and it´s correct with 0.85 instead?

If your account is in EUR, yes it should be 0.85.

I am searching for sources about what I said...

Alain Verleyen  

About Tick value in account currency. Source (completely confirmed by almost 10 years of experience on MT4 and MT5:

Forum on trading, automated trading systems and testing trading strategies

Calculating TickValue and Profit

Renat Fatkhullin , 2010.01.14 22:00

Yesterday, when I was looking at the code, I incorrectly expressed myself about the different cost of a point depending on the direction.

More precisely, when converting to a target currency, TickValue depends on whether it is unprofitable or not. That is, if we received a loss of 1 pip, then we need to redeem it at the Ask price, and if the profit is 1 pip, then sell at the Bid price. The MODE_TICKVALUE scoring function uses only one variation.


Today, after the checks, we found a problem in converting crosses into the currency of the deposit - thanks for the investigation. There is no such problem in MetaTrader 5.

We will fix the bug in a major update of the MetaTrader 4 platform in February (there is a lot to be done simultaneously).

I'm very ashamed, sorry.