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  1. #1
    Senior Member Lelyz9's Avatar

    Choosing the better MT4 broker to closely match your BO broker's chart !!!

    Certain questions related to this kept appearing in the Skype group from time to time, maybe it's better to have it posted, so a single link in the future would be enough to explain all.
    (Note: all underlined pink colored words below are the clickable links to where you need to go)

    I. For true newbies (haven't attended the BOTS School or watched the CommuniTraders' Channel)

    Q: What's the function of MT4 for my BO trading?
    A: It's to help your technical analysis by using this free charting platform. Please watch/read this.
    Thanks to Bogdan (article) and Okane (video).

    II. For more experienced newbies (already passed the stage I)

    Q: My MT4 price/chart is quite different from my BO broker's price. How to get the closer MT4 price/chart?
    A: Choose different broker as your trading server on MT4.

    Q: How to do it?
    A: Please rewatch the video on minute 3:00.
    Notice the "Open an Account" menu on its lowest bar, "add new broker....", just type the new broker's name.

    Q: What broker's name should I type in?
    A: If you trade with 24Options, type: Oanda. Click "Scan", then choose: OANDA-GMT-5 Practice.

    But if you're with other brokers, such as IQ or Ayrex, try download this. Just similar step, "Open a new account", then choose: TradersWay-Demo. On the next menu, at the Account type, choose: TWFIXUSD.
    (this particular account type couldn't be found if you're using the scanning method from original mt4 platform as above, it gave different chart.)

    III. For traders trading other assets (stocks, commodities, etc.)
    Q: What's the broker that provides these various data other than forex pairs?
    A: FxPro. It's more than 1 demo server that FxPro has, just choose one with the smallest ping.

    Q: But I couldn't find the symbols/assets on my Market Watch. How to find them?
    A: Press Ctrl+U on your keyboard, there you go.

    IV. For Mac's users
    Q: My MT4 is not stable, what should I do about it?
    A: Download this MT4 fully designed for Mac

    That's it. Hopefully it's helpful.
    Last edited by Lelyz9; 11-07-2016 at 11:28 AM. Reason: Adding more details
    There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle - Albert Einstein. Hidden Content

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  3. #2
    poe
    poe is offline
    Senior Member poe's Avatar
    Very nice and helpful post lely... Pretty sure newbies going thru this phase will appreciated !

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  5. #3
    Legendry Member Okane's Avatar
    Thanks, what a great thread! Making our lives easier
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  7. #4
    Moderator Kolyo's Avatar
    Hey Lelyz, what a great thread! Thank you very much for presenting this small but very very important tweaks for everyone here. MT4 is a must tool for everyone trading binary options. At the moment I am using OANDA practice account as my metatrader terminal and it is working quite smooth and with very close prices to my binary options providers, but I have one small problem which despite numerous checks didn't find a solution. The timezone of the OANDA mt4 server is predefined in advance and I can't do anything to change it to my actual local time. Of course I can adapt to New York trading time, but it is always more suitable to see the time on the charts as your local time. With OANDA desktop it is easy to do, but with mt4 I don't find any way. If somebody know how to do this tweak I will be very thankful
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

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  9. #5
    Legendry Member milos's Avatar
    Thanks Lelyz!

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  11. #6
    Senior Member Lelyz9's Avatar
    Quote Originally Posted by Kolyo View Post
    Hey Lelyz, what a great thread! Thank you very much for presenting this small but very very important tweaks for everyone here. MT4 is a must tool for everyone trading binary options. At the moment I am using OANDA practice account as my metatrader terminal and it is working quite smooth and with very close prices to my binary options providers, but I have one small problem which despite numerous checks didn't find a solution. The timezone of the OANDA mt4 server is predefined in advance and I can't do anything to change it to my actual local time. Of course I can adapt to New York trading time, but it is always more suitable to see the time on the charts as your local time. With OANDA desktop it is easy to do, but with mt4 I don't find any way. If somebody know how to do this tweak I will be very thankful
    You're welcome, Kolyo.
    Yes, you can do something with it. It's not to change the broker's time (which is impossible on MT4), but to add the local time above the broker's time axis using this indicator. It's not a script, so please remember to put it into the "Indicators" folder on your MT4.
    Last edited by Lelyz9; 11-03-2016 at 05:06 PM.
    There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle - Albert Einstein. Hidden Content

  12. #7
    Moderator Kolyo's Avatar
    Thank you very much Lelyz I will give it a try!
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  13. #8
    Legendry Member willyw's Avatar
    Quote Originally Posted by Kolyo View Post
    Hey Lelyz, what a great thread! Thank you very much for presenting this small but very very important tweaks for everyone here. MT4 is a must tool for everyone trading binary options. At the moment I am using OANDA practice account as my metatrader terminal and it is working quite smooth and with very close prices to my binary options providers, but I have one small problem which despite numerous checks didn't find a solution. The timezone of the OANDA mt4 server is predefined in advance and I can't do anything to change it to my actual local time. Of course I can adapt to New York trading time, but it is always more suitable to see the time on the charts as your local time. With OANDA desktop it is easy to do, but with mt4 I don't find any way. If somebody know how to do this tweak I will be very thankful
    Kolyo. Mt4 brokers set the time according to the local on their server so it is impossible to change. Oanda have a few servers. for example. Oanada GMT-5 is US server, GMT+2 is Europe server, Japan is Japan server, V20 is Asia server. You can give a try. I am using Oanda v20 Live account as I am trading Live with Oanda and I cannot choose other server if not I cannot trade my account.

  14. #9
    Senior Member Lelyz9's Avatar
    Quote Originally Posted by Kolyo View Post
    Thank you very much Lelyz I will give it a try!
    Np Sure, I hope it works for you and also for anyone who want to do the same (all brokers on MT4).

    It's better to add our local time instead of changing the server if the chart we have is already quite similar to our BO.

    But if it's another case, then yes, maybe changing server would be great.

    I have Oanda live account with GMT-5 server, but I noticed it's different candles compared to the other server (GMT+2/V20 practice) when I checked it on daily time frame. But maybe different people notice different things.
    Last edited by Lelyz9; 11-07-2016 at 12:13 PM.
    There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle - Albert Einstein. Hidden Content

  15. #10
    Legendry Member willyw's Avatar
    Live account and demo account differs. Demo account uses raw data which are free. Live acct data are paid service by the broker and are accurate. In the event of outage or server down, Live acct data will be patched but not demo acct data

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