Hi
I have a professional background in FX and after opening a tiny private account with Oanda I was gobsmacked to learn how they trigger stop orders.
For me the "normal" way to place a BUY stop-order is to input a STOP-IF-BID. This way your order will be triggered when the BID price reaches the price you specified, afterwhich the order is filled at market on the ASK price.
Now, Oanda by default triggers a buystop when the ASK price reaches the trigger price, which means that your order will be triggered even if just the BID/ASK spread widens.
My question to you is the following:
Is there any FX broker that triggers stoporders the "normal" way which also offers MT4?
Thanks
Andy
I have a professional background in FX and after opening a tiny private account with Oanda I was gobsmacked to learn how they trigger stop orders.
For me the "normal" way to place a BUY stop-order is to input a STOP-IF-BID. This way your order will be triggered when the BID price reaches the price you specified, afterwhich the order is filled at market on the ASK price.
Now, Oanda by default triggers a buystop when the ASK price reaches the trigger price, which means that your order will be triggered even if just the BID/ASK spread widens.
My question to you is the following:
Is there any FX broker that triggers stoporders the "normal" way which also offers MT4?
Thanks
Andy