MetaTrader 4 — points on one side, account currency on the other — Pakistan

MetaTrader 4 states some figures in points and others in the account currency, and the conversion between the two is the arithmetic done before a volume or a level is entered.

Open Exness Account →

100+ instruments · Founded 2008

MetaTrader 4 speaks two units at once. Volume, levels and spread are stated in the instrument's own terms — lots and points — while balance, margin and the running result are stated in the account currency. Every order needs one conversion between them: the value of one point at the volume being used. Almost everything else on the screen follows from that single number.

Measured order execution — Standard

How orders actually filled when real market orders were placed on Exness’s MT5 feed — fill time, slippage and rejects by order size:

Instrument	Order size	Avg fill	Avg slippage
EURUSDm	0.01 lot	151 ms	-0.333 pts
EURUSDm	0.1 lot	151 ms	-0.333 pts
EURUSDm	1.0 lot	146 ms	-0.333 pts
GBPUSDm	0.01 lot	141 ms	0.667 pts
GBPUSDm	0.1 lot	130 ms	0.0 pts
GBPUSDm	1.0 lot	135 ms	0.333 pts
XAUUSDm	0.01 lot	141 ms	0.0 pts
XAUUSDm	0.1 lot	151 ms	80.0 pts
XAUUSDm	1.0 lot	130 ms	-72.333 pts

Small sample (a few round-trips per size); indicative. The same pricing engine feeds every platform the broker offers.

Where MetaTrader 4 states points and where it states money

Volume is entered in lots, which is a quantity of the instrument rather than an amount of money.
Entry, Stop Loss and Take Profit are entered in the price of the instrument; the distance between them is counted in points.
Balance, equity, margin and the running result are shown in the account currency.
The value of one point depends on the instrument and on the volume, so the same distance is a different amount of money on two different orders.
Required margin appears in the account currency while the volume field beside it is in lots; the two meet through the contract size and the leverage.
The spread is displayed in points and becomes an amount only once the volume is fixed.
A money figure becomes a level only through the point value at the chosen volume, which is why the volume is decided before the levels are typed.

Get started

Download MetaTrader 4 (MT4) from your Personal Area area after you open an account, or try it first on a free demo.

Open Exness Account →

Two units on one screen

The left half of any order is written in the instrument’s language. A lot is a quantity of the instrument, a level is a price, and the gap between two levels is counted in points. None of these are amounts of money and none of them can be compared across instruments.

The right half is written in the account’s language. Balance, equity, used margin, free margin and the running result are amounts in the account currency, already converted by the platform, and they are the only figures that can be added together.

The single conversion, and where it is needed

The bridge between the halves is the value of one point at the volume in use. Multiply a distance in points by it and the result is money; divide an amount of money by it and the result is a distance in points. The lot size calculator and the trading calculator carry out both directions.

That one number is needed three times per order: to turn an intended loss into a stop distance, to read the spread as an amount rather than a count, and to compare an order on one instrument with an order on another.

Why the same distance is not the same money

Two instruments can show the same number of points and cost different amounts, because the contract size behind a lot and the currency the instrument is quoted in are both different. The screen does not warn about this; the point value is where the difference is stored.

The same applies within one instrument at two volumes. Doubling the volume doubles the money behind an identical distance, which is why a stop distance copied from a previous order is only valid while the volume is unchanged.

Turning an amount of money into an order

Decide the amount, in the account currency, that the order is allowed to lose.
Find the value of one point for that instrument at the volume you intend to use.
Divide the amount by the point value — the result is the stop distance in points.
Set the level at that distance from the intended entry, in the price of the instrument.
Check the required margin for the volume against free margin before the order is sent.

The volume is decided first, because the point value that converts money into distance depends on it.

What each field on the screen is stated in

Field	Stated in	What converts it
Volume	Lots	Contract size of the instrument
Entry, Stop Loss, Take Profit	Price of the instrument	Distance counted in points
Spread	Points	Point value at the volume used
Required margin	Account currency	Nominal divided by leverage
Running result	Account currency	Already converted by the platform
Balance and equity	Account currency	No conversion needed

Frequently asked questions

Which figures in MT4 are in points and which in money?

Volume, levels and spread belong to the instrument and are counted in lots and points. Balance, equity, margin and the running result are amounts in the account currency.

Why does the same stop distance cost different amounts on two instruments?

Because the contract size behind a lot and the currency the instrument is quoted in differ. The difference is carried by the value of one point, not by the distance itself.

Where does the value of one point come from?

From the contract specification of the instrument and the volume entered. It is the number that turns a count of points into an amount in the account currency.

Is the spread a cost in points or in money?

It is displayed in points, which is a count. It becomes an amount only after the volume is fixed and the point value is applied.

Why is the volume decided before the levels?

Because the point value that converts an intended amount of money into a stop distance depends on the volume. Choosing levels first fixes the distance and leaves the money figure to chance.

Does the platform convert anything by itself?

Yes. Balance, equity, margin and the running result are already expressed in the account currency. What it does not do is turn an intended amount of money into a volume or a distance.