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Mt4 manager api and Server api- a study.pdf

Mt4 Manager API, though has few limitations. Trades can only be placed in B book through manager API as it inserts the trade directly in MT4 trades database. There is no way to place a trade through manager API in A book. Ref: https://www.fxbrokertools.com/blog/manager-api-and-server-api---a-study-29.php

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Mt4 manager api and Server api- a study.pdf

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  1. Source : https://www.fxbrokertools.com/blog/manager-api-and-server-api---a-study-29.php Manager API and Server API – A Study MT4 exposes two APIs – Manager API and Server API. We will discuss both APIs in this article and explain how and where these can be used. The manager API exposed by MT4 provides all functionalities you see in MT4 manager. The manager API uses sockets to connect to MT4 server and needs manager level credentials to login to the server. Depending on the rights of manager, the API can perform manager or admin level functions. Manager API with manager rights can perform following functions 1. Symbol Information 2. Create/Edit Account information 3. Accounting 4. Groups Information 5. Charts Information 6. Dealing 7. Trades Information 8. Trade Placements Manager with admin rights can perform server configuration, that includes server settings, Symbol configuration, Groups, Securities, Manager, plugin, charts and feeds configurations. Advantage of manager API is, it does not need access to the server where MT4 is installed, but can be deployed at any location. This is useful for white labels who do not have access to servers. Also, any problem or error on the application using manager API won’t affect the MT4 server. Mt4 Manager API, though has few limitations. Trades can only be placed in B book through manager API as it inserts the trade directly in MT4 trades database. There is no way to place a trade through manager API in A book. Also, manager API does not provide any restrictions while placing trade, so developer needs to be careful in using the trading functionality to verify the configurations before placing a trade. For example, a trade can be placed on a symbol that is not configured for a group, on a day on which trade session is not even open. The trade placement thru manager API has latency as

  2. it happens through sockets and the latency depends on the location of the application deployed on server with the MT4 server. The server API is exposed via a server plugin DLL that is loaded in the same memory space as the MT4 server. A server plugin has all the rights and can perform any operation on a MT4 server. The greatest advantage of using a server plugin is the speed. As the server API is executed in the same memory space, the execution is extremely fast, and unlike manager API, the server plugin can place trades in A Book as well as B book. The dealing through API is also extremely fast. The server API is generally used to connect MT4 to a liquidity provider for trade execution. The greatest risk with server plugin is that it can affect the MT4 server in case of any issue with the plugin code. This is one of the reasons, brokers avoid any plugins to be installed on the server. To conclude, manager API is good for developing applications like Traders Room, trading platforms etc. and for White labels, while server API is good for connecting MT4 to the LP for trade execution.

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