Star Hat Solutions Launches New MetaTrader Plugin Suite

Trading technology provider Star Hat Solutions announced the launch of a fresh set of plugins this Thursday.

Called ConvertOnClose, the new plugins can be used with both MetaTrader 4 or MetaTrader 5.

Currently, most brokers have MT4 and MT5 settings that allow for closing a position based on whether it is a long or short trade.

The ConvertOnClose plugin allows them to instead close a trade based on profit and loss.

“Metatrader is the most popular Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term in the world and we are well placed as experts to provide brokers with tailored solutions to allow them to provide competitive, fair services,” said Start Hat Solutions Sales Director Tim McLachlan.

“Our ConvertOnClose plugin corrects the side used to close positions based on trade P&L rather than if the trade was long or short. Importantly, it additionally allows brokers to apply a spread in percentage points, harmonizing Metatrader with other platforms.”

Still popular

Though it was first launched almost 15 years ago, MT4 continues to be the preferred trading platform for both brokers and traders in the retail foreign exchange market.

Adoption of MT5, which is growing in popularity, continues to lag behind due to certain features - particularly regarding a-book, b-book business models - that the newer platform offers.

Star Hat Solutions has already launched a number of products for both platforms.

At the end of 2017, for example, the technology company launched multi-server trading and a Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat Read this Term solution.