Cyprus-licensed forex broker Vipro Markets said on Thursday it has introduced a Multi-Account Manager (MAM) service, powered by software developer MetaFX. The new offering enables users, largely professional traders, to run and manage multiple client accounts from a single trading terminal.
The broker said it decided to add the MAM platform due to the growing demand from money managers for increased functionality and advanced automation of order execution.
“The MAM platform is a valuable tool not only for serious money managers but also for large professional traders who want to implement different trading strategies,” Vipro Markets CEO Valerijus Ovsianikas said. “From a business perspective, the product brings favourable opportunities to the Company too as it attracts bigger Clients to our already strong Client base,” he added.
This platform is a recommended tool for professional traders who manage funds on behalf of clients by executing group orders.
“The [MAM] platform comes in handy for these Clients who generally have less time to invest themselves and are looking for professional MAM managers to invest their capital,” Ovsianikas noted. “The introduction of Multi-Account Manager verifies our ongoing commitment to adding extra value to our Clients’ trading experience through technologically advanced tools. It has never been easier for money managers to work with multiple accounts and perform trading operations simultaneously.”
The service is available through a partnership with MetaFX, a company that develops tools for the MetaTrader 4 (MT4) trading platform. It launched the MAM service in 2008. In addition to it, the developer also offers a MT4-to-MT4 Bridge that connects two or more MT4 servers and redirect trade requests from one to another, as well as Customer Programming for MT that allows the automation of trading strategy, designing of sophisticated custom indicators, integration of MT with third party software and external libraries, among others.
Some of the advantages of Vipro Markets’ MAM platform include support for all Expert Advisors (EA) for automated trading, support for all major order types and for multiple money allocation types, as well as real-time moniroring of MAM trading parameters.
Other forex brokers that have a MAM service include AvaTrade, AxiTrader, Tickmill, ThinkForex, PriorFX, and Pepperstone, among others.
Vipro Markets is headquartered and regulated in Cyprus by the Cypriot Securities and Exchange Commission (CySEC). It is an electronic communication network (ECN) broker, operating under a full straight through processing (STP) and no dealing desk (NDD) business model. It offers to retail and institutional clients trading in forex and contracts for difference (CFDs), commodities, stocks indices, energies, and metals.
The broker is present in 249 countries worldwide, with a strong focus on the EU and the Asia-Pacific region, where it is represented by introducing brokers (IBs).