MetaTrader 4 and MetaTrader 5 are highly popular trading platforms because they are easy to use, come with plenty of features, and are useful for all sorts of traders. They remain a benchmark for beginners and active traders and have transformed trading operations across the global market.
Although MT4/MT5 comes with default functionality, Application Program Interface (API) can broaden trading platforms' functionality with third-party integration and customization for a variety of tasks. It usually includes data feed, risk management, web services, server manager, and report analysis, which can help streamline and automate business processes to a large extent.
The Objective of MT4/MT5 Server
MetaTrader 4 and MetaTrader 5 functionality can be augmented with our JSON Web API and additional plugins. It can help develop new functions into the platform, integrate with other solutions, and customization options.
Out of the box both platforms offer these APIs:
- Server API makes it possible to develop server plugins with endless possibilities, such as managing low-level server parameters at run-time, managing order and customer database, processing trade requests, and so on.
- Manager API is accountable for additional functionality development, platform integration, and customization of its functions. With this interface, you can create your very own management terminal to optimize workflow.
- Data feed API is designed for developing news and quote data feeds.
Top Recommended solutions for MT4/MT5
1. GAP Helper
The idea behind this MT4 plugin is to manage how orders execute. It can proceed with all types of trades – SL, TP, Stop and Limit, and further, pick algorithms for each order kind – worst, first, last, and orders’ price. It can increase brokers’ income and minimize risks.
2. Flexible Leverage
Plugin for MT4/MT5 to dynamically change trader’s leverage depending on his total open position. Supports infinite number of rules. Has graphical User Interface to change advanced settings in an easy way.
3. MT4 Manager API .NET
This is a library for .NET, a wrapper over the native MetaQuotes MT4 Manager API to work with MT4 server using any language that supports .NET. We all know that time is money. Using .NET you can develop applications much faster than using C++.
4. Auto Limit & Stop Levels
Plugin for MT4 to manage Limit and Stop Levels of symbol to minimize risks broker experience during high volatile market conditions. It can able to specify precise start and end times as well as unlimited rules to facilitate a repetitive scheduler.
5. Compress MT4 Database
This application merge multiple trade and user records into a single record to save disk and memory footprint, which reduce server start-up time and reduce a chance of low memory issues.
6. JSON Web API for MT4
It comes with best-in-class functionality, a cloud-hosted platform for the least latency. It can manage servers from PHP, ASP, JS, etc. to help automate tasks using PowerShell/curl scripts running by the scheduler and even make financial analysis using Excel. It allows users to create, request, update, delete, orders, server settings, make deposits/withdrawals, change leverage, news time, symbols’ stop level, etc.
MT4 and MT5 are popular trading platforms used to simplify and automate a variety of tasks. Alongside an easy user interface, it can be beneficial to integrate web APIs and plugins for advanced technical analysis and flexibility. It is essential to understand its key features to maximize your income by correct using of this platform.