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 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.
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“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.”
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 solution.