Oanda with MT4 over FXSpyder - it works :-)

Hi folks,
what do think about the MT4 integration for Oanda via FXSpyder API?
I just installed it and tested it on my live account, it really works, but execution takes up to ten seconds because of the complicated way...

MT4-->FXSpyder-->Oanda-->long time :-(

However, FXSpyder also seems pretty cool, I'm satisfied that finally I can use a trailing stop with Oanda, one of the features of the Spyder platform...

anyone else tried this platform?

king regards,
RomanDG

This is interesting. I never used it before, but I'm pretty curious about the execution. Since it takes up to 10 seconds for the execution, is there any slippage regarding to the price you paid for?

you can configure the slippage you are willing to accept in the spyder robot which executes the trade for you.
Frankly, I am pretty happy with FXSpyder, but the ordeer routing from MT4 to Spyder and then Oanda is symply to long, I'll keep MT4 for my analysis and gonna execute via FXSpyder.

regards,
Roman

What does this look like on the account side? Who do you have an account with on MT4? Does FXSpyder require an account? Obviously, you have an Oanda account . . .

Hi,

you can open any MT4 demo account on any broker, your order is routed to FXspyder by an EA Script, then FXSpyder executes the Order on the Oanda Server.
There is a differnce between "soft" orders and broker orders, soft orders, or better, soft stops and TP->Levels aren't visible for your broker as they are saved an executed via the FXspyder execution server, just go to their website to read more.
It's interesting and they have implemeted a professional trailing stop feature with threshold level and trailing steps.
But the execution via MT4 is far to slow, FX Spyder is pretty cool, its a good charting platform, just try it and open an account on FXspyder in demo to test this out,

kind regards,

Roman

Hi Roman,

I have tried to set up a similar arrangement but have encountered a problem when running through the set up process.
The process asks to run the scripts on the mt4 platform broadcaste but if i attach them to the charts they overwrite my expert?

Do i need to attach the broadcaste scripts to the chart or do they run without needing this

Kind regards
censura

----------soft stops and TP->Levels aren't visible for your broker as they are saved an executed via the FXspyder execution server

if so, who will monitor the connection btwn FXspyder & oanda ?

I've been using MT4 over FXS since last Nov, and really properly using it since December and Jan this year. These are my comments:

1. It works on paper - 65-75% of trades made by my robot on MT4 is properly transferred to FXS to Oanda

2. The platform shuts down, putting your trades at risk. On several occasions, the platform shut down AFTER it put through a trade. Without a stop loss, I was swimming naked. *RISK!!*

2a. Always be careful, as you would for MT4 alone, that pesky Windows updates that forces the PC to restart after an update, lest you find yourself high and dry, and naked. Not a FXS specific issue, but must note.

3. Certainly not for scalping. The transfer from MT4 to Oanda takes too long to take advantage of 5-10 pip movements *RISK!!*

4. A Good idea. FXS, needless to say, fills a need.

5. Live(less) support. Support is next to useless and putting a ticket is useless too. All they say is that FXS is very stable and to download the latest version (which is conveniently hidden in one of their forums, and no notification is given when it is updated). *WARNING!*

6. Fees. 1/4 pip is not a big deal at all BUT it will cost you far more than 1/4 pip as it is UNSTABLE. If FXS is fine 90% of the time, I can consider paying. Until then I advise everyone to analyse your risk by betting only small amounts (and not take the risk of going naked), OR, if you want to take the risk, seek for additional free credits. Personally, I will take the risk that FXS will someday be better, but I will not pay a cent at this time.

Following my input above, I had a chat today with live support at FXS (you get the live support icon at the top right hand side, only if you are lucky, it disappears most of the time).

They insisted that I should not use FXS if my platform is not stable (since when has it become MY platform?). They also boasted that they have 1,700 customers, most of whom have no problems (so they aren't interested in the 10% or 170 customers who have problems.).

What is important to note is that FXS itself may be functioning perfectly (I cannot comment on that, HOWEVER, what we are interested in is MT4-FXS-Oanda, which is definitely more complicated, and prone to crashes. I believe I am one of the few people playing significant money on this basis.

anywa, part of the conversation is below, and it ended with me cancelling my account (and no reply from live(less) support). Bye bye, FXS.



------------
Hello a. My name is Maria how can I help you?
a says:
hi, please check why i can't log into my fxs oanda account platform
Maria says:
Ok, what is your id?
Maria says:
Yes, we have already responded. Please do not use the platform if you are having problems.
a says:
I can't use a platform if i am having problems logging on, obviously
Maria says:
We need to solve the problems first.
a says:
What did you respond?
Maria says:
You mentioned that you wanted credits because the problem had serious problems.
a says:
i want to know if this is going to be corrected, or you are interested to chase away customers this way
Maria says:
We don't want you to loses money if there is a problem with your platform.
a says:
it is not MY platform, it is YOUR platform
a says:
the 1st issue is, I can't even log on to FXS
a says:
the 2nd issue is, I want some credits
a says:
based on my account, I only used 22 credits
Maria says:
What about the problem crashing all of th time?
a says:
not ALL of the time. some of the time.
a says:
As I said, I want to continue to use FXS, and I trust FXS will improve.
a says:
Just look at my trades. Some open without getting closed. Those are the trades where FXS crashed
a says:
I am not interested in blaming anyone. Making money trading is hard enough.
Maria says:
Yes. I do not see an answer to our reply:
Maria says:
Hello, Are you using version .159? You should not have any problems, if you are having problems we do not recommend using a live version of FxSpyder at all. If you are having problems we will be happy to solve them for you. Until then, please do not use the platform.
a says:
Yes, I am using the latest version .159
Maria says:
Ok. Has it crashed on you?
a says:
Yes.
a says:
So have the previous versions.
a says:
So my point is that all upgrades have crashed before
Maria says:
Ok. It should not crash. Why do you want to trade real money if it crashes. Please send us the current logs so we can fix it.
Maria says:
We have 1700 people using the platform and some have problems, most do not.
Maria says:
It seems you are more concerned about free credits than a reliable platform.
Maria says:
We are more concerned about the reliability of the platfrom than free credits.
a says:
same here. I want it to be reliable, and I am willing to wait
until it is reliable, i would like credits
a says:
if you belive that is unfair?

eventually, I asked for CEO's email and name. no reply. i asked to terminate my account. no reply. Boo!

Any updates on this recently from anyone that has tried to bridge MT4 to Oanda via FXSpyder?

Any new user on FXSpyder?
I would appreciate your input on how it is working out.

Fubi

I am a big advocate for API Trading on Oanda via FxSpyder. However, using it for MetaTrader access is different. If you can access the code for the MT EA or can get the owner of the EA to convert it into JavaScript for you it is the best way, then you can use it directly in FxSpyder. If this is not an option you can use their bridge. Their first version of the bridge was slow, and could cause delays, however, the new version updates no less than every second. Thus, in theory you could still have a delay of 1 second. If you are scalping this could be an issue. If not then this could be a solution for using MT EA's in Oanda.

You have to ask FxSpyder for the bridge. They prefer you to convert scripts directly into JavaScript so they can support it directly. It also provides better efficiently.

There is a cost to use this service though. They no longer offer the per transaction fee. Instead, they offer unlimited trading for a flat fee. Ask them about specials, they have them periodically and I was told their price may be dropping.