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Troubleshooting common MT4 issues

MetaTrader 4 launched in 2005 and is undoubtedly the world’s most popular trading platform, at least for now. While the platform has staying power, its creator, MetaQuotes, has been trying to render it obsolete to make space for the newest version, MetaTrader 5. As MT4 gets older and the developers stop releasing updates, more issues will arise. 

We’ve written this article to help stubborn traders who are reluctant to upgrade to MetaTrader 5 troubleshoot common MT4 issues. Some issues are more likely to occur when using the Scandinavian Markets MT4 for the first time or when using a version of MT4 from another broker to access your Scandinavian Markets MT4 account.

Trading disabled for major currency pairs in MT4

Because of how MT4 is configured, it frustratingly shows several major currency pairs, such as EURUSD and GBPUSD, that cannot be traded or hidden. These are conversion symbols used by MT4 for internal calculations and may appear in your watch list by default. Although you can see the live prices and graph data, you cannot trade conversion symbols.

This problem is easily solved by selecting another trading instrument from the MT4 Market Watch panel, which ends in the suffix .swd. We recommend hiding the conversion symbols and showing all others.

Not all trading pairs are shown in MT4

Sometimes, MT4 only shows a handful of symbols in the market watch after installing the platform or logging in to a new account. The lack of default symbols displayed can be disorientating, especially because only those symbols in the market watch are listed in the new order window.

Thankfully, the absence of trading pairs in MT4 is easily solved by following these simple steps:

  • Open the Market Watch window in MT4. It’s usually open by default; if not, open using Ctrl + M.
  • Right-click inside this window.
  • Select ‘Show All’. This action will display all the instruments we provide.

Waiting for update error in MT4

The waiting for update error in MT4 occurs because no pricing or historical data is available for the selected symbol. The error typically appears when the platform cannot receive fresh data from our server. This can be due to various issues, but most commonly, it’s linked to connectivity problems. When this error occurs, charts and price data fail to update, making trading and analysis functions unavailable. 

However, if this issue occurs for just one symbol, it can be due to an obsolete symbol selected in the chart. Obsolete symbols can appear in MT4 if you have a very old trading account and previously traded a symbol we stopped providing. You can check if a symbol has been deprecated by hovering your mouse over the symbol in the Market Watch; if it says “Trade: No”, it means trading is disabled.

Invalid account error

The “invalid account” error in MetaTrader 4 typically indicates a problem logging in to a trading account. This error can occur for several reasons:

  • Incorrect login credentials: The most common cause is entering the wrong account number or password. Double-check you’re inputting the correct credentials and that they are correct.
  • Incorrect server selection: Ensure you’re connecting to the correct server. Every broker has a different MT4 server; some have multiple demo and live servers. For Demo accounts, use ‘ScandinavianMarkets-Demo’ and ‘ScandinavianMarkets-Live for live accounts.
  • Account expired: If you’re using a demo account, it might have expired, as they have a limited lifespan. Our demo accounts expire if no trades are placed for 30 days.
  • Account disabled: Sometimes, we may deactivate trading accounts due to inactivity or compliance issues.

Off quotes error

The “Off Quotes” error in MetaTrader is typically encountered when the platform cannot execute a trade at the requested price. The usual cause of this problem is a lapse in communication between the MT4 client and our trading server, leading to a discrepancy in price data. It can occur during periods of high market volatility, rapid price movements, or if there’s a delay in the transmission of quotes from the broker.

Not enough money error

The “not enough money” error in MetaTrader 4 indicates insufficient funds in your trading account to open a new trade. This error occurs when the required margin for a trade exceeds the available free margin in your account. The required margin depends on the trade size (lot size), leverage, and the instrument being traded. If your account balance is too low to cover the required margin for a trade, MT4 will prevent the trade from being executed to protect against a negative balance.

Some useful suggestions to remedy the not enough money error are:

  • Deposit more funds: Increasing your account balance can resolve the issue if it’s genuinely due to insufficient capital.
  • Reduce trade size: Consider opening smaller trades. Smaller traders lower the margin requirement and can prevent the error.
  • Close positions: If you have other positions open, especially losing ones, closing some can free up margin.
  • Increase leverage: Contact us to discuss the option of increasing leverage settings. Lower leverage means less margin requirement per trade.

No connection error

The “no connection” error in MetaTrader indicates that the trading platform is unable to connect to our trading server. This error can prevent you from executing trades, accessing market data, or using other platform functionalities. You’ll typically see a warning for this error in the bottom-right corner of the MT4 terminal, where the connection status is displayed.

This error can occur due to various reasons:

  • Internet connection issues: The most common cause is problems with your internet connection.
  • Incorrect login details: If you’ve entered the wrong account ID or password, it can prevent a successful connection.
  • Broker technical issues: Sometimes, the problem may be on the broker’s end, such as server maintenance or outages.
  • Firewall or antivirus interference: Security software on your computer might be blocking MT4’s ability to connect to the internet.
  • Network restrictions: Certain networks, especially in corporate or public settings, may have restrictions that block trading platforms.

Troubleshooting MT4 issues

It may sound obvious, but incorrect credentials often cause most MT4-related issues. Sometimes, traders use their demo account logins to access their live account, and vice versa, mix passwords between brokers, or have an unstable internet connection. 

Another possible cause for issues is technical faults. If you suspect one, please contact us ASAP, and we’ll advise you on our system status. 

If you encounter an MT4 issue, we recommend the following steps:

  • Check internet connection: Ensure you have a stable and active internet connection. Try refreshing your connection or restarting your router.
  • Verify login credentials: Double-check your account details, including the server to which you’re trying to connect.
  • Check firewall/antivirus settings: Temporarily turn off your firewall or antivirus to see if that resolves the issue. If it does, you’ll need to set exceptions for MT4 in these programs.
  • Switch networks: If you’re on a restricted network, try switching to a different one, such as your mobile internet, without such restrictions.
  • Update MT4: Ensure you’re using the latest version of the MT4 platform. Outdated software can lead to compatibility problems.
  • Reinstall MT4: Sometimes, a fresh installation of MT4 can resolve unexplained connection issues.
  • Try a different device: Try logging in from a different computer or device to see if the problem is specific to your primary device.
  • Restart the computer: As basic as it may sound, restarting your computer can sometimes resolve temporary network or software glitches.

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