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How to Fix MT4 Common Error in 2022? – Screenshots and Video Instruction

by Fxigor

Occasionally, you can see errors in the MT4 platform. One of the most frequent errors is off quotes MT4 error. Additionally, we often can see “Common error” (error number 2) in the Metatrader platform.

What is a Common Error in MT4?

An MT4 common error in the lower-right corner of the Metatrader platform is a signal error indicating a connection problem (slow internet connection or no connection) between the Metatrader platform and the server account.

MT4 common error represents a connection problem in your Metatrader platform. To overcome this problem, you need to check the internet connection, the antivirus program, or your login details. However, a “common error” problem can sometimes happen if your broker has technical issues and you can not connect to your broker’s account. In that case, it is not up to you anymore, and you need to wait for your broker to fix technical issues.
common error in metatrader platform

How to fix MT4 Common error on Desktop?

  • Check the internet connection. There can be a problem with Wi-Fi, cable internet, or some anti-virus software. Any Internet security programs block the internet connection of Metatrader and the online server. “Common error” and “off quotes” in MT4 are the most common errors.
    check your internet connection using Troubleshoot problems option
    You can use the “Troubleshooting problems”  in your Windows to check your internet connection (image above).
  • Enter the username, password, and IP server address when logging in to Metatrader. If the internet connection is fine, then the problem is login parameters. If the username and password are OK, the problem is often the server IP address. Inter to pick “Real 1” or “Demo” server, you need to put the full IP address (hotforex IP addresses example ).check login details in MT4
  • Check the antivirus program on your computer. If your antivirus blocks the Metatrader platform, you can not log in to your account, and you can see “Common error” at the right bottom of the MT4 platform. Go to the Control panel and then choose Control Panel\System and Security\Windows Defender Firewall\Allowed apps. Check if the MetaTrader app has allowed private and public internet access (see image below).check Metatrader on allowed antivirus defender list

 

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I created one video related to this problem. Please watch this video below to see how to fix the common error MT4 problem:

How to Login properly in MT4?

  • Step 1: Open your MetaTrader 4 terminal.
  • Step 2: Click on the file at the top left corner of the platform.
  • Step 3: Select login.
  • Step 4: Enter your login details.
  • Step 5: Enter the IP address (ask your broker for IP if you do not know) in the ‘server’ field.
  • Step 6: Click login.

type server IP in metatrader
If you do not have an IP address, ask broker support to give you. Ask them, for example: “What is the IP for the Live four server? Then, they will help you.
We often see this when we have a problem logging in to the Metatrader account.

Common error Mt4 we can see on desktop computers and Common error mt4 app problem on mobile phones. The solution is the same. The user needs to check the internet connection, username, password, or IP and then connect without error.

How can the MT4 Common Error message be fixed if login details and server IP are correct?

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In the case log-in details are Common correct errors can be fixed in this way:

  1. Close all charts in MetaTrader and close the platform.
  2. Restart the PC and then check do you have an excellent internet connection (for example, speed-test by Ookla and check internet connection quality using packet loss test).
  3. Disable the antivirus program in a few minutes to check the MetaTrader platform in case the antivirus blocks MetaTrader software.
  4. Run the MetaTrader platform and try to log in.
  5. If it doesn’t work again, try to create a new demo account and log in. If you succeed, then the problem is the login parameter.
  6. Ask for help from your broker and ask again for server IP. Sometimes, different server IPs will solve the problem.

Operation parameters MT4

Sometimes because of a slow internet connection, traders can get in MetaTrader “Common error please verify operation parameters and try again later.” In this case, you need to fix the internet connection or change the login IP. It would help if you asked your broker support to give you new IP for login. Usually, the problem is with a slow internet connection.

Metatrader 4 troubleshooting – MT4 errors list

Metatrader 4 is not responding.
Except for “Common problem,” there are a lot of MT4 errors. Please see the list of the most common errors in the Metatrader platform:

ErrorError IDDescription
ERR_NO_ERROR0No error returned.
ERR_NO_RESULT1No error returned, but the result is unknown.
ERR_COMMON_ERROR2Common error.
ERR_INVALID_TRADE_PARAMETERS3Invalid trade parameters.
ERR_SERVER_BUSY4Trade server is busy.
ERR_OLD_VERSION5Old version of the client terminal.
ERR_NO_CONNECTION6No connection with trade server.
ERR_NOT_ENOUGH_RIGHTS7Not enough rights.
ERR_TOO_FREQUENT_REQUESTS8Too frequent requests.
ERR_MALFUNCTIONAL_TRADE9Malfunctional trade operation.
ERR_ACCOUNT_DISABLED64Account disabled.
ERR_INVALID_ACCOUNT65Invalid account.
ERR_TRADE_TIMEOUT128Trade timeout.
ERR_INVALID_PRICE129Invalid price.
ERR_INVALID_STOPS130Invalid stops.
ERR_INVALID_TRADE_VOLUME131Invalid trade volume.
ERR_MARKET_CLOSED132Market is closed.
ERR_TRADE_DISABLED133Trade is disabled.
ERR_NOT_ENOUGH_MONEY134Not enough money.
ERR_PRICE_CHANGED135Price changed.
ERR_OFF_QUOTES136Off quotes.
ERR_BROKER_BUSY137Broker is busy.
ERR_REQUOTE138Requote.
ERR_ORDER_LOCKED139Order is locked.
ERR_LONG_POSITIONS_ONLY_ALLOWED140Long positions only allowed.
ERR_TOO_MANY_REQUESTS141Too many requests.
ERR_TRADE_MODIFY_DENIED145Modification denied because an order is too close to market.
ERR_TRADE_CONTEXT_BUSY146Trade context is busy.
ERR_TRADE_EXPIRATION_DENIED147Expirations are denied by broker.
ERR_TRADE_TOO_MANY_ORDERS148The amount of opened and pending orders has reached the limit set by a broker.

Filed Under: Metatrader

Are Trading Bots Legal?

by Fxigor

When we hear the word trading bots, the first thing that comes to our mind is how bots can do trading. Are they efficient enough to perform the trading tasks with precision? Are they even legally allowed to be used by traders?

Read this article for in-depth information about trading bots, how to use them, and how a trader can check if a bot is excellent or fake.

What Are Trading Bots? 

Trading bots or trading expert advisors are computer programs created using coding languages such as Python, MQL, C++, Java, etc. The algorithms are developed as per the trading strategy, which analyzes the market and executes entry and exit positions.


In theory, traders can create the trading strategy and leave it to the trading bots to execute their trading plan. However, monitoring and small changes are essential in automated trading. 

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However, traders need months and years to develop trading bots, analysis, and hard work. Trading bots can outperform short-term manual trading but usually can not compete in long-term trading strategies and usually underperform manually trading. This thought is for debate.

Trading bots are suitable for traders who do not wish to sit all day, waiting for a better trading opportunity to arrive. They can leave it to the trading bots and utilize their time into something else, like upskilling themselves. Using the bot does not require the trader to have excessive trading skills. Bots are capable of performing both the analytical and execution parts of trading. 

Are Trading Bots Legal?

Yes, trading bots are legal worldwide, and there is no financial regulation that does not allow trading bots implementation. However, brokers have the right to ban high-frequency trading bots or bots based on price quote manipulation, such as price latency arbitrage strategies.

Price latency arbitrage strategies based on internet delays can hurt brokers, and this practice is not allowed. However, traders can and should use arbitrage trading and exploit price discrepancies within different trading markets of similar or identical assets to make profits.

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If we talk about regulations for Trading Bots, they are legal in almost every jurisdiction. This means that there is no such law regarding restricting the use of bots for trading. However, many brokers are still skeptical about trading bots and have strictly banned them. 

Since there is no regulatory ban on trading bots, their use is legalized. It depends on the broker, whether they are using it or not. The number of brokers who are strictly against the bots is very, very rare. Trading bots are widely used in almost all leading trading platforms. Therefore, it is not very difficult to find a broker or a trading platform using trading bots. 

It has always been a concern when it comes to the rightfulness of trading bots. The reason behind this is the presence of many scams in the trading market. There are many incidents where the bots have failed to perform as promised by the companies that sold them. Due to the poor execution of these trading bots, many traders became targets of irrecoverable losses. 

At the time of selling, many companies lure the traders by showing fake results of their bots and offering money-back guarantees. Rare are the chances where the promises are fulfilled. Sometimes these scammers are nowhere to be found after successfully fooling people into buying their bots. 

This doesn’t mean that every company in the market is selling illegitimate trading bots. However, they might be few, but some companies have potential trading bots that work as they promise. Though the best way to have a good trading bot is to create your own, it will require a robust trading system that has the potential to convert strategies into a program. 

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Creating a bot may require you to have programming knowledge or someone who can make it for you and is trustworthy. A trusted creator is a must as many of them end up selling the trading bot to others created on your strategy. 

Are stock trading bots legal?

Yes, stocks trading bots are legal in the US and worldwide. Traders are encouraged to implement these strategies because bot trading increases brokers’ commissions and increases trading liquidity in the whole market. However, brokers have the right to ban bots based on price latency arbitrage strategies or any other price manipulation if manipulation is created to harm brokers.

Usually, strategies that use internet delay in price quotes can generate broker’s loss, so many brokers do not allow that kind of strategy.

Are crypto trading bots legal?

Yes, crypto trading bots are legal in the US and worldwide. Traders are encouraged to implement these strategies because crypto-bot trading increases brokers’ commission (more trades than manually trading) and increases trading liquidity in the whole crypto market. Crypto trading is specific because economic news and fundamental news almost do not impact price, and everything is based on supply and demand on the market.

However, crypto brokers can ban crypto bots based on price latency arbitrage strategies or any other price manipulation if manipulation is created to harm brokers.

All political and economic news placed in the information to move the crypto market up or down is just speculative and short-term lived. The Crypto market does not have a financial statement that can impact the crypto market price in the long term. For example, no interest rates, industrial production, or GDP can impact future costs like on ordinary national currencies!

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Tips To Find Efficient Trading Bots

Many are scams out of all the trading bots available in the market. It is imperative to research the company that is selling the bots. It should be regulated, should be able to show you actual outcomes of the trading bots, and must have a history that is backed by good customer reviews. Any company that offers results that are too good to believe is a red flag. 

The following are some of the tips to identify bots that have potential.

  • Stay Away from Cheap Bots

If a seller tells you that the bot they are selling is very profitable, and at the same time, it is marked cheap, think about it. Why would someone sell a beneficial product at a very reasonable price? These companies lure many spontaneous buyers at the same time to sell the bots and flee with the money. Avoid bots that are priced at $100 or below. It is not like only expensive bots are legitimate, but excluding the cheaper ones will be a good start in your hunt for a fair trading bot. 

  • Trust the Real Numbers and Not the Words

Sugarcoated words and big promises about the trading bots cannot guarantee their rightfulness. The actual numbers, facts, and figures are genuine proof of a trading bot’s real potential. Therefore, only go for the companies that can show you everything about the bots, such as their performance in the live market, backtest results, annual returns, and more. 

The charts and figures are enough to understand a trading bot’s prospects. The speech filled with terminology that you cannot understand may have been created to misguide or confuse you. 

  • Always Read Online Reviews

Anyone can easily find customer reviews about different trading bots. Some can be fake or paid reviews, and it is difficult to identify genuine ones. Whatever the company may claim, the real potential can only be determined through actual customer reviews. These authentic reviews are usually found on social media or forums. A reviewer with no history can be a paid reviewer. Honest reviewers typically have a record of genuine reviews.

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  • Be Aware of False Claims

Every trader is aware of the unpredictability of the trading market. Even if the trading bot is exceptionally potent, it still cannot promise higher returns, as you may have seen on some of the websites you have come across. Some companies display websites fancied by misleading graphics and pictures like big mansions, luxurious cars, or rain of cash and gold. Don’t get in the trap of these scammers, as nobody can promise you significant returns.

  • Always Go for Regulated Companies

If you want to make sure you are not being scammed, always go for the company regulated by a respected regulatory body. You can check with the regulatory bodies to know if the company is genuinely held under them. Also, if the company is new, there will always be doubts surrounding its genuineness. Therefore, companies registered for more than five years, are regulated, and have customer reviews, are less likely to sell you fake trading bots.

How To Identify Fake Trading Bots? 

Specific methods are used to create fake trading bots. The following is a list of some examples of these methods. 

  • Excessive Curve Fitting-  Many sellers of trading bots only show positive results. They constantly adjust the trading rules that result in good curves. These companies may prepare reports that exclude the days when the strategy showed negative effects. They may also modify the positions of taking profits and stop-loss to derive presentable results. 
  • Modification with Backtest- Many fraud companies perform many random backtests until they derive the results that they can present to scam traders into buying their bots. They use arbitrary trading rules which do not generate justified results and are just a show to attract buyers. In the end, these bots do not work, and the traders lose. 

Summary

Trading bots are legal, but some of their sellers are fake. Although many traders widely use these bots, the only question is where to find the simple bots. Considering the above points while searching for a trading bot will give you a heads-up. Since the users of trading bots surpass the number of manual traders, the requirement for these bots in the market has increased, leading to an increase in the number of scammers.

Remember the above points while hunting for bots. Also, trust your judgment and skills to find a legitimate trading bot. Though the bots cannot promise you that the trading results will be in your favor, they can assist you in completing your trading goals. 

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Filed Under: Autotrading

How to Withdraw Money From Metatrader 4?

by Fxigor

As a beginner trader, you need to understand that the MT4 platform is the only platform for trading. All deposit and withdrawal transactions you can do only if you use your broker’s online account.

To withdraw money from your Metatrader account you need to visit your broker’s website, log in using your username and password and then make a withdrawal or deposit transaction.

We recently shows how to add money to the MT4 account and now the process is similar.

Steps are presented below:

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How to Withdraw Money From Metatrader 4?

To withdrawal money from MetaTrader 4 account:

  • Log in to your broker’s account using your live account username and password.
  • Go to the ‘Finance/Deposit’ tab and click ‘Withdrawal. ‘
  • Choose the preferred online payment system.

When you open a live account, you need to log in and add funds!

Let us see an example of how to withdraw or add funds to MetaTrader 4 using FxPro broker:

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Filed Under: Metatrader

How to Fix Please Verify Operation Parameters in MT4?

by Fxigor

If you use Expert advisors very often, you can see errors like this: “Please verify operation parameters and try again later.” This Order sends error three is very dangerous because this error blocks future trades from being executed, and Expert advisors become useless.

The OrderSend Error 3 or invalid trade parameters in MT4 is called ERR_INVALID_TRADE_PARAMETERS, and it is often an error such as a common error in MT4.

Why do invalid trade parameters errors in MT4 occur?

Invalid trade parameters errors in MT4 occur because one of the following reasons:

  • If MQL programmer types incorrect operation in OrderSend() function.
  • Wrong defined slippage in input. Slippage needs to be 0 or greater.
  • Order is not defined well because incorrect order tickets are passed on the function OrderModify(). Add piece of code “if (ticket > 0)” before OrderModify().

In OrderSend() function you can define only 6 operations:

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  • OP_BUY will Open a long position.
  • OP_SELL will Open a short position.
  • OP_BUYLIMIT will open a buy limit order.
  • OP_SELLLIMIT will open a sell limit order.
  • OP_BUYSTOP will open buy stop order.
  • OP_SELLSTOP will open sell stop order.

How to Fix Please Verify Operation Parameters in MT4?

To fix invalid trade parameters error in MT4 marked as ERR_INVALID_TRADE_PARAMETERS, you need first to check-in the MQL code is slippage positive number defined in the input. If slippage is positive number, then you need to check the ticketing system in MQL, and you need to add if (ticket > 0) in front of the OrderModify() function such as:

if (ticket > 0)
OrderModify()…..

Usually, if you have this error, the problem is in the expert advisor code, and you can ask the programmer for help. Please see all major errors in MT4 below:

 

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ErrorError IDDescription
ERR_NO_ERROR0No error returned.
ERR_NO_RESULT1No error returned, but the result is unknown.
ERR_COMMON_ERROR2Common error.
ERR_INVALID_TRADE_PARAMETERS3Invalid trade parameters.
ERR_SERVER_BUSY4Trade server is busy.
ERR_OLD_VERSION5Old version of the client terminal.
ERR_NO_CONNECTION6No connection with trade server.
ERR_NOT_ENOUGH_RIGHTS7Not enough rights.
ERR_TOO_FREQUENT_REQUESTS8Too frequent requests.
ERR_MALFUNCTIONAL_TRADE9Malfunctional trade operation.
ERR_ACCOUNT_DISABLED64Account disabled.
ERR_INVALID_ACCOUNT65Invalid account.
ERR_TRADE_TIMEOUT128Trade timeout.
ERR_INVALID_PRICE129Invalid price.
ERR_INVALID_STOPS130Invalid stops.
ERR_INVALID_TRADE_VOLUME131Invalid trade volume.
ERR_MARKET_CLOSED132Market is closed.
ERR_TRADE_DISABLED133Trade is disabled.
ERR_NOT_ENOUGH_MONEY134Not enough money.
ERR_PRICE_CHANGED135Price changed.
ERR_OFF_QUOTES136Off quotes.
ERR_BROKER_BUSY137Broker is busy.
ERR_REQUOTE138Requote.
ERR_ORDER_LOCKED139Order is locked.
ERR_LONG_POSITIONS_ONLY_ALLOWED140Long positions only allowed.
ERR_TOO_MANY_REQUESTS141Too many requests.
ERR_TRADE_MODIFY_DENIED145Modification denied because an order is too close to market.
ERR_TRADE_CONTEXT_BUSY146Trade context is busy.
ERR_TRADE_EXPIRATION_DENIED147Expirations are denied by broker.
ERR_TRADE_TOO_MANY_ORDERS148The amount of opened and pending orders has reached the limit set by a broker.

Filed Under: Metatrader

What Does Not Enough Rights Mean in MT4?

by Fxigor

If you like to use Expert Advisors in the MT4 platform, usually, you will see some errors that will not allow you to open new trades. In the previous article, we analyzed MT4 Common error  Today we will explore another error – “Not enough rights.”

What Does Not Enough Rights Mean in MT4?

“Not enough rights” represents the MetaTrader server error that occurs when the trading server loses connection and EA works on the server. Usually, this error will appear if you log into the server using an investor password and run EA or if your server has an interruption (a couple of minutes glitch).

To solve this error, you need to check are logged on MT4 using the master password (not investor), and then you need to wait a few minutes for the interruption to be fixed and rerun EA.

For this error, it is not your fault. If your broker has an overloaded server, this error is possible.

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Sometimes you will see a “Not Enough Rights” error during huge spikes on the server if you have important news.

Please see the list of all significant MT4 server errors.

ErrorError IDDescription
ERR_NO_ERROR0No error returned.
ERR_NO_RESULT1No error returned, but the result is unknown.
ERR_COMMON_ERROR2Common error.
ERR_INVALID_TRADE_PARAMETERS3Invalid trade parameters.
ERR_SERVER_BUSY4Trade server is busy.
ERR_OLD_VERSION5Old version of the client terminal.
ERR_NO_CONNECTION6No connection with trade server.
ERR_NOT_ENOUGH_RIGHTS7Not enough rights.
ERR_TOO_FREQUENT_REQUESTS8Too frequent requests.
ERR_MALFUNCTIONAL_TRADE9Malfunctional trade operation.
ERR_ACCOUNT_DISABLED64Account disabled.
ERR_INVALID_ACCOUNT65Invalid account.
ERR_TRADE_TIMEOUT128Trade timeout.
ERR_INVALID_PRICE129Invalid price.
ERR_INVALID_STOPS130Invalid stops.
ERR_INVALID_TRADE_VOLUME131Invalid trade volume.
ERR_MARKET_CLOSED132Market is closed.
ERR_TRADE_DISABLED133Trade is disabled.
ERR_NOT_ENOUGH_MONEY134Not enough money.
ERR_PRICE_CHANGED135Price changed.
ERR_OFF_QUOTES136Off quotes.
ERR_BROKER_BUSY137Broker is busy.
ERR_REQUOTE138Requote.
ERR_ORDER_LOCKED139Order is locked.
ERR_LONG_POSITIONS_ONLY_ALLOWED140Long positions only allowed.
ERR_TOO_MANY_REQUESTS141Too many requests.
ERR_TRADE_MODIFY_DENIED145Modification denied because an order is too close to market.
ERR_TRADE_CONTEXT_BUSY146Trade context is busy.
ERR_TRADE_EXPIRATION_DENIED147Expirations are denied by broker.
ERR_TRADE_TOO_MANY_ORDERS148The amount of opened and pending orders has reached the limit set by a broker.

Filed Under: FAQ, Metatrader

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