A few days ago, I read an article at ForexFactory.com. It is about a plugin for MetaTrader4, forex trading platform that is used by most of forex trader. It is called "Virtual Dealer Plug-In". I was surprised that MetaQuotes was developing such plug-in to help broker for cheating clients. With this plug-in, brokers could do many things to make an order from client to be failed such as:
- Confirmation of the clients' requests with regulated execution delay up to 5 seconds and recheck of Limit & Stop Level and Freeze Level.
- Processing of pending order activations, Stop triggering, and stopouts.
- Confirmation of requests on stream prices (Instant Execution) with adjustable permitted slippage.
- Watching symbol gaps, during which pending order BUY STOP and SELL STOP and stops of open positions are activated not at the client's requested price, but at the gap price.
- Automated moving up the Limit & Stop Level and Freeze Level according to the preset list of news time.
- Disabling (setting,modifying,deletion) of pending orders during news receiving.
- Working in parallel with real dealers. In this mode, only those requests are processed the volumes of which do not exceed the preset level.
source : http://www.forexfactory.com/showthread.php?t=70582
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trading with MT4 brokers has it's advantages too because they provide high leverage and swap free accounts, but i always wondered why does my close order delay and my SL/TP order execute instantly ?!!
You gave the answer to this .. thanks