Important MT4 Plugins for Forex Brokers

by jack
Field Audits

A lot of platforms in the financial market have features that allow a broker to start its operations. However, as it grows, it requires more plug-ins that traders are looking for. Extra plugins help ease the operation of the broker for a great overall experience of traders.

Important MP4 Plugins:

Feed Server

This plugin makes it possible for brokers to receive information from a variety of sources, create new symbols, filter spikes and update price feed to MT4.

Negative Balance Protection

The worst thing that can happen when a trader opens an account to a broker is to lose the deposits. There have been cases where a trader loses all his funds but since the broker offered bonuses the trading continues. Most bonuses are done by a third-party app and because trading platforms’ built-in function to monitor negative balances is not enough, a negative balance protection plug-in should be installed.

Dynamic Margin and Leverage

Due to technology and the expansion of forex, Regulators of CFD trading started to closely monitor the leverage given by brokers. Some leverage can reach as high as 1:1000 which means your $100 can open trades reaching $100,000. Leverage attracts more clients and it also increases the traders’ risk. This may also result in more “gambling” decisions of traders. In order to minimize the risks of traders, regulation was introduced by financial authorities which added a cap to the leverage. Brokers employed Dynamic Margin and Leverage tools to deal with the default function of their platforms.

Trade Copier

Instead of expensive analytical systems, brokers can use simple plugins to configure their trading platforms for real-time monitoring. Plugins such as Trade Copier and Terminal Hedger enable brokers to aggregate clients’ holdings in one place using a variety of copying modes.

Dealing Desk Plugin

Because forex pairs are the most traded financial products, with a daily trading volume of $5.1 trillion, brokers may find it difficult to discover problems manually. That’s where products like Brokeree Solutions’ Dealing Desk come in, with its automatic scalping identification and risk management capability.

By integrating executed orders from several groups or trading accounts into a single MT4 account, dealers and risk managers receive remarkable insights and complete control over trading activities. Within the trading interface, brokers will be able to examine total exposure by symbol, overall PnL, and much more data.

 

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