Trading with MT4 and MT5 Platform? 5 Useful Plugins You Will Need

MetaTrader 5 (MT5) is a next-gen trading platform from MetaQuotes, which is intended to accommodate more asset classes while MT4 is optimized for forex trading. A core benefit is you can trade from anywhere, via your tablet or smartphone. Features like trading signals, copy trading, and risk management comes in a single trading platform (MT5).

But besides the original features of these two platforms, there are plenty of MT4 and mt5 plugins, add-ons, and modern solutions available to fine-tune your trading operations. As your business grows, you will need upgrades to analyze performance and create a smooth trading experience. Integration options are endless, you can transmit data from the platform and control orders from a third-party application.

Introduction

MT4 Platform

Launched in 2005 to serve forex brokers widely, MT4 sets a high industry standard for a forex trading platform. It is extremely popular and built with MQL4 language, allowing you to stay ahead of trades and charts at the same time. Although it is an old platform, it is still highly appreciated in the forex market and used best with modern add-ons and plugins.

MT5 Platform

MT5 is a powerful trading platform carrying superior capabilities in various areas like backtesting and DOM. Released in 2010 to attract non-forex market space and meet the inherent requirements of those markets better than MT4 could. It offers enhanced social and copies trading features, backtesting, and analytical functionalities.

Why Plugins for Trading Platforms?

There is no doubt that both these platforms have impeccable features and versatility. But as your business expands, you will need to automate some operations and extend the functionality based on your needs.

For example, you can develop a special plugin for reports and analysis to simplify your operations. Also, you can create an additional module that connects to any payment system and auto-deposit funds to traders’ accounts.

Plugins are essential for functionality expansion and automation. And when you use it from the start, you will see significant improvement and profitability in your business operations.

Useful Plugins for MT4 and MT5

1. Multi-Account Manager

This mt4 server manager plugin allows the asset manager to handle multiple sub-accounts from a master account by distributing trades’ margin needs. The master account will synchronize and perform partial positions closure alongside commission payouts when anyone deposits or withdraws funds.

This can support up to 128 master accounts, each working with a specified allocation mode and group of sub-accounts.

2. AMF Compliance (MT5)

It is intended to meet AMF authority requirements to limit potential customers’ losses. It enables a guaranteed stop on every trade and works with different hosting modes and purchase plans.

3. Auto Limit and Stop Levels

It is designed to adjust the limit and stop levels of a symbol as per the scheduler to prevent risks that brokers experience during high volatile market conditions. You can specify endless rules and precise start and end times.

4. Flexible Leverage

It can change a trader’s leverage based on his total open positions. You can specify an infinite number of rules and a graphic user interface to change settings.

5. Multi-Tier IB

This can help calculate and pay commissions in real-time. It is ready to work with web API through MetaQuotes manager API.

Conclusion:

Trying to make perfect sense and choosing the right technology for your business can be an overwhelming process. That’s why it is always good to work with an experienced programming team to integrate ready-to-use solutions, develop plugins, and third-party applications to streamline and automate business processes.

An experienced programming team specialized in offering web applications, MT4/MT5 plugins, json webapi, customized solutions, trading tools, and valuable advice to help MT4 brokers, etc.