Closing MT4 Positions via desktop

[mrbassman]

Hi,

What is the best way to close positions when MT4 crashes or there's a local power cut but we have access to

the mobile app on the smartphone? It has happened yesterday when IG's MT4 terminal lost connection for a while

but luckily it was back alive shortly afterwards. Nonetheless, it gives me shivers just the thought of it. Is there a way

of dealing with it if and when it happens? 

Cheers. 

[Caseynotes]

9 minutes ago, mrbassman said:

Hi,

What is the best way to close positions when MT4 crashes or there's a local power cut but we have access to

the mobile app on the smartphone? It has happened yesterday when IG's MT4 terminal lost connection for a while

but luckily it was back alive shortly afterwards. Nonetheless, it gives me shivers just the thought of it. Is there a way

of dealing with it if and when it happens? 

Cheers. 

Hi, the wise thing to do is to always have stop loss in the market, even if it's just nominal that you intend to drag around as needed. As it's lodged with the broker it will be recognised whether your terminal is running or not or if you have a connection or not (though slippage may still occur if high volatility as could happen anyway).

Otherwise the other option is to telephone the dealing desk, they can close any position for you.

[mrbassman]

Many thanks, good to know that they can terminate via phone.