PC Set the slippage tolerance
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On MetaTrader4 (MT4) / MetaTrader5 (MT5), you can prevent an order from being executed if the slippage from the rate at which the order is placed exceeds the specified amount. This option is only available when instant execution is used by your broker.
Market execution is more favored by brokers
Many brokers choose market execution, which guarantees order execution at any available price. With these brokers, you can't set the slippage tolerance.
Here we will look at how to set the slippage tolerance on MT4/MT5.
Switch between MT4/MT5 tabs to check the steps for each.
Step 1
Click "Tools" in the menu and select "Options". (Shortcut keys: "Ctrl"+"O")
Step 2
In the "Trade" tab, choose "Default" for "Deviation by default". Then enter the slippage tolerance in points and click "OK".
Point is the last decimal place
While the spread and profit/loss of forex currency pairs are generally calculated in pips, CFDs, whose original rates have different numbers of digits, are sometimes quoted in points. A point is the last decimal place of the instrument's price.
Step 1
Click "Tools" in the menu and select "Options". (Shortcut keys: "Ctrl"+"O")
Step 2
In the "Trade" tab, choose "By Default" for "Deviation". Then type the slippage tolerance in points and click "OK".
Point is the last decimal place
While the spread and profit/loss of forex currency pairs are generally calculated in pips, CFDs, whose original rates have different numbers of digits, are sometimes quoted in points. A point is the last decimal place of the instrument's price.
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