OANDA Corporation gives EA users and automated traders a boost as long & short positions displayed on MT4

Clients of technology-focused electronic trading company OANDA Corporation which use the MetaTrader 4 platfrom in certain regions can now create accounts that will display long and short positions for the same instrument on the OANDA MT4 platform.

According to OANDA Corporation, the ethos behind this is to ensure that traders who rely upon automated trading strategies can make use of the wealth of Expert Advisors (EAs) available to them via MT4 over OANDA’s fast and reliable execution engine.

After rolling out a new MT4 server to support five daily candles per week, OANDA Corporation has focused its efforts on those clients who would either like to use EAs that require hedging, or run multiple EAs at the same time without worrying about them conflicting.

Now, clients of OANDA Europe, OANDA Canada, and OANDA Asia Pacific can do just that by creating a new MT4 hedging compatible subaccount, or enabling this functionality on an existing MT4 subaccount that has no existing open positions via the Funds Management System. Plans are also in place to bring this functionality to clients registered with OANDA Australia and OANDA Japan in the not-too-distant future.

The company considers that it is important to note that no actual hedging will occur on these accounts. The OANDA MT4 platform will display long and short positions for the same instrument, but fxTrade (the system of record) will continue to hold one net position for each instrument. As a result, OANDA clients are advised to reference the fxTrade platform for accurate account information.

Photograph courtesy of Raphael Matsunaga