Can anyone tell me what this BS is on Mt4 with not being able to put limit orders 20 points near the current price?

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I really don't use mt4 for order entry and I see this when I try.

Is this something with just my broker and only with the sell side or both sell and buy?

Thnx

 

This is a broker issue and has nothing to do with the MT4 platform.

If you want to place trades/orders closer to the current price you need an ECN broker.

Discussion and recommendations about brokers are not allowed in this forum, so you should make your own search.

 
stonesmooth:

I really don't use mt4 for order entry and I see this when I try.

Is this something with just my broker and only with the sell side or both sell and buy?

Thnx

You can see it programmatically (if the broker has set it) with this script 

#property strict
//+------------------------------------------------------------------+
//| Script program start function                                    |
//+------------------------------------------------------------------+
void OnStart()
  {
  int sylimit=(int)SymbolInfoInteger(_Symbol,SYMBOL_TRADE_STOPS_LEVEL);
  int milimit=(int)MarketInfo(_Symbol,MODE_STOPLEVEL);
  int limit=MathMax(sylimit,milimit);
  Comment("Limit in points "+IntegerToString(limit));
  }
//+------------------------------------------------------------------+
 
stonesmooth: I really don't use mt4 for order entry and I see this when I try. Is this something with just my broker and only with the sell side or both sell and buy? Thnx

It's called a "Stops Level" and there is also a "Freeze Level". Not all brokers apply them but there are many that do apply them, but it depends on the type of account you have with them.

For MT4 here is a page dedicated to explaining how to place orders based on those: Requirements and Limitations in Making Trades - Appendixes - MQL4 Tutorial

Requirements and Limitations in Making Trades - Appendixes - MQL4 Tutorial
Requirements and Limitations in Making Trades - Appendixes - MQL4 Tutorial
  • book.mql4.com
Requirements and Limitations in Making Trades - Appendixes - MQL4 Tutorial
 
Eleni Anna Branou #:

This is a broker issue and has nothing to do with the MT4 platform.

If you want to place trades/orders closer to the current price you need an ECN broker.

Discussion and recommendations about brokers are not allowed in this forum, so you should make your own search.

They claim to be an ECN broker.
 
Lorentzos Roussos #:

You can see it programmatically (if the broker has set it) with this script 

How do I use this script?? Thanx
 
Fernando Carreiro #:

It's called a "Stops Level" and there is also a "Freeze Level". Not all brokers apply them but there are many that do apply them, but it depends on the type of account you have with them.

For MT4 here is a page dedicated to explaining how to place orders based on those: Requirements and Limitations in Making Trades - Appendixes - MQL4 Tutorial

Again, they say that I'm using an ECN/STP acct, but then this one is an offshore......
 
Lorentzos Roussos #:

You can see it programmatically (if the broker has set it) with this script 

I think I figured it out. I simply just put the script into editor and saved it, then pasted it to the chart.

It indeed says "limit in points 20" on the upper left corner. Is that confirming that there is a freeze level?

 
stonesmooth #: Again, they say that I'm using an ECN/STP acct, but then this one is an offshore......

It does not matter if it is an ECN/STP broker or account. If they have defined a "Stops Level" in their contract specifications then you have to abide by it.

I have brokers that don't have it and others that do. But it depends on the type of a account. For example, on one of my brokers, a Standard Account has "Stops Level", while the "Pro" account does not.

It is just part of normal trading. There is nothing "BS" or strange about it. It is your choice, to select the proper account type or broker, depending on your needs and interests.

What is important is that you make sure you have a licensed broker that is regulated, and that you have checked with that government regulator that the broker's license is valid and that they are reputable.

If however, you wish to trade without a "Stops Level" then choose a different account type or find another licensed, regulated, reputable broker.

 
stonesmooth #: I think I figured it out. I simply just put the script into editor and saved it, then pasted it to the chart. It indeed says "limit in points 20" on the upper left corner. Is that confirming that there is a freeze level?
The script confirms if there is a "Stops Level". A "Freeze Level" is something different.
 
stonesmooth #: I think I figured it out. I simply just put the script into editor and saved it, then pasted it to the chart. It indeed says "limit in points 20" on the upper left corner. Is that confirming that there is a freeze level?

Also, you don't need to use a script. Just look at the Contract specifications for the symbol.

This is for the "Pro" account. I'm unable to show you an example of the "Standard" account, because I closed it a year ago as I don't use it any more.


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