How to calculate tick values for Futures and CFDs in deposit currency? - page 2
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Why aren't you asking the broker?
DAX looks wrong also stopLevel=31400 points Delta = 0.50 / 0.01 = $50 / tick
Please take a look at the values on the broker's platform:
When you place a 1 lot trade on EURUSD the value in MT4 is $1/point, but the broker's settings indicate a different value.
MT4 is not really designed to handle anything other than forex. It is common - perhaps, universal - for futures and equity CFDs etc to have their tick-value in MT4 reported in the instrument's base currency, not the account's base currency. In other words, futures and equity CFDs behave differently to forex symbols, and break the promise in https://docs.mql4.com/constants/marketinfo that MODE_TICKVALUE will be "in the deposit currency".
For example, http://daytrading.about.com/od/marketprofiles/a/ProfileDAX.htm defines the DAX future as having a contract size of EUR 25, a minimum price movement of 0.5, and a value per minimum 0.5 move of EUR 12.50. The figures in your screenshot for DAX-DEC12 are clearly in EUR despite the fact that your account is in USD.
To calculate the tick-value in your deposit currency you need to convert from EUR to USD. You also need to know that the symbol is denominated in EUR; MT4 itself cannot tell you this. You can't do a fully automated calculation of the tick-value based only on the information which MT4 provides.
Why aren't you asking the broker?
DAX looks wrong also stopLevel=31400 points Delta = 0.50 / 0.01 = $50 / tick
Actually I asked the broker, but they didn't see anything wrong with their settings.
Now I'm a bit puzzled as I could always trust the MarketInfo values brokers provide via MT4 MQL calls.
This is the first broker that has the values out of whack.
MT4 is not really designed to handle anything other than forex. It is common - perhaps, universal - for futures and equity CFDs etc to have their tick-value in MT4 reported in the instrument's base currency, not the account's base currency. In other words, futures and equity CFDs behave differently to forex symbols, and break the promise in https://docs.mql4.com/constants/marketinfo that MODE_TICKVALUE will be "in the deposit currency".
For example, http://daytrading.about.com/od/marketprofiles/a/ProfileDAX.htm defines the DAX future as having a contract size of EUR 25, a minimum price movement of 0.5, and a value per minimum 0.5 move of EUR 12.50. The figures in your screenshot for DAX-DEC12 are clearly in EUR despite the fact that your account is in USD.
To calculate the tick-value in your deposit currency you need to convert from EUR to USD. You also need to know that the symbol is denominated in EUR; MT4 itself cannot tell you this. You can't do a fully automated calculation of the tick-value based only on the information which MT4 provides.