MetaQuotes has released two popular trading platforms such as MetaTrader 4 and MetaTrader 5. They include interactive charts, multiple timeframes, analytical tools, and technical indicators that can help forex brokers to set up initial trading operations.
As your business expands, you need additional MT4 plugins to expand functionality, automate business processes, and ensure risk management. The default functionality that comes with MT4 isn’t enough, especially if you need to manage multiple subaccounts and satisfy everyone’s needs.
Plugins for MT4 need to be installed on a server and configured via the MT4 administrator. Many plugins are developed for brokers, white labels, and IBs to improve the current functionality of the MT4 platform.
How MT4 Plugins can help?
• It helps you alter the features and functionality of MetaTrader 4
• It makes operations easier than standard MT4
• It eventually can help you save ample time and effort
• It streamlines business processes and expands automation capabilities
5 Top Picks for MT4 Plugins
1. AMF Compliance
This plugin is used to fulfill AMF authority requirements to reduce possible customer loss. It forces a guaranteed stop on every trade and reduces the chances of customer loss. And the best part? You can pick a desired hosting mode and license period to get started within a couple of minutes.
2. Multi-Account Manager
The MAM plugin allows the asset manager to handle multiple sub-accounts from a master account by dividing trades’ margin requirements. When a trader opens his master account, it will reflect on corresponding sub-accounts and vice versa. When an investor deposits/ or withdraws funds, the master account will synchronize and perform partial positions closure alongside commission payouts.
3. Multi-Tier IB
This server plugin for MT4 is used to calculate and pay commissions in real time. Moreover, it can calculate rebates to pay back the client if IB decides to divide bonus fees with the client. It is ready to use alongside web API through MetaQuotes Manager API.
4. Flexible Leverage
Choose a plugin hosting mode and license period to dynamically change the trader’s leverage depending on total open positions. You can set an infinite number of rules and use a graphical user interface to change settings.
5. GAP Helper
This plugin is designed to execute trades by price confirmation and using the worst prices. It requires a few tricks and satisfies the rule to confirm order execution. It can proceed with all kinds of trades and further, you can choose an algorithm for each order type. This can help increase the broker’s income and reduce risks.
Another crucial aspect is MT4 manager API C#, allowing MT4 servers to manage processes remotely via any HTTP-enabled client. It allows you to create, request, delete, manage orders, make deposits/withdrawals, change leverage, and perform other routine tasks.
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