AvaTrade Broker Profile
If MultiCharts sends any price order (stop/limit) with the price equal to current market price or better (guaranteed to be executed) it will be rejected by the broker. Therefore, MultiCharts converts such price orders into market orders.
If a price order (stop/limit) is placed and its price is close to best ask for Buy or to best bid for Sell, the order is emulated in MultiCharts, but nothing is sent to broker. If the price changes to execution price (best ask for Buy or to best bid for Sell), the order is converted to market one and sent to broker. If the price moves away from execution price, the order is sent as a price order (stop/limit). The distance between execution price (order is converted and sent as a market order) and the price when order is sent as it is (stop or limit order) depends on the symbol and may vary.
Stop-Limit orders are not supported by the broker.
The only available Time-in-Force parameter for orders is GTC, so every order is sent with this Time-in-Force.
Modification of orders in automated trading is not supported. Old order is cancelled, a new modified one is placed.
Modification of orders in manual trading is supported (# of contracts, price). It is not possible to modify order price to a price that guaranteed immediate order execution.
For FOREX trade size should be equal to the amount of units, not trade lots.
Open position Profit/Loss is provided through AvaTrade API.
Unrealized Profit/Loss for the account is provided through AvaTrade API.
AvaTrade does not support Native One-Cancels-Others group. In this case MultiCharts emulates OCO group on its end. Simulated OCO-group means that all OCO orders are sent to the broker, price is monitored by MultiCharts and once one of the orders is filled, other orders from this OCO group are cancelled by MultiCharts. When one of the OCO orders is filled, MultiCharts sends a command to cancel the second OCO order to broker. Note that the second order may also be filled if price reaches its level before the cancellation is processed by the broker (see OCO-Orders Risk).
Setting up AvaTrade Broker Profile
In the Properties AvaTrade window (see Managing Broker Profiles) enter the information provided by AvaTrade:
- Enter Login and Password.
- Select type of connection: Demo / Real.
Make sure the currency of the account is specified correctly.