What is a MetaTrader plugin?

07-Jul-2017

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MetaTrader has made trading relatively easier for all the parties involved. They can toggle through the various options available in the platform to analyze the financial situation of the market. At present, there are more than a million traders who took benefit from this platform. The platform continues to gain popularity among the traders because of the amazing plugins that enable traders to have total control on their trading. Through this article, we intend to let the readers know how effective a MetaTrader plugin really is and what kind of plugins exist.

  • Forex data feeds often struggle with technical failures. There is a MetaTrader plugin called “Quotes Freeze” that will automatically stop the trading on a particular symbol as long as the price for that symbol has not been modified. So you can clearly see that this plugin acts as an insurer against all the technical failures that might occur over the time.
  • It is always important to have a backup of the account orders, and that’s the job of a plugin called “Order duplication”. It uses a master account to store the account orders from different groups, which are a duplicate of the original account orders.
  • Next in the line is the plugin termed as “Deposit Limit”, which is linked to your primary account from where you manage the deposits. There are groups assigned to your trading account, and this plugin restricts the amount of money that can be deposited in a particular account at a given point in time.

With the intent of adding versatility to the MetaTrader platform, you must make use of as many plugins as you can. These plugins can be ordered when you are using the MetaTrader platform. The business operations can be effectively automated using a MetaTrader plugin, as it helps in expanding the functionality of the platform to meet your requirements.

For an instance, there are plugins that enable you to create different type of reports for regular business use. Another exemplary example is that a MetaTrader plugin enables money in your manager account to be automatically transferred to the accounts in your trader groups. In addition to the above, the plugins allow you to create a new account for the customers, a quote feed can be enabled, or a trade server can be launched again. These plugins do the job of identifying opportunities of new business and saving the costs, at the same time.

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