Brokeree Solutions introduces MT5 Synthetic Symbols


Brokeree Solutions, the Estonia based provider of high-grade technology solutions for forex brokers, has announced that it is introducing a new innovative solution that enables FX brokers to improve their offering by adjusting incoming symbols and creating new ones.

With Brokeree’s new MT5 Synthetic Symbols solution plugin, forex brokers can convert inconvenient measures into something more comprehensible (e.g. Gold.1kg, Gold.1kg of 99.5% purity).

The tool works with any symbol but is most commonly used for converting commodity or cryptocurrency symbols as those either come in a limited variety or have much lower prices (e.g. cryptocurrencies). With this handy new plugin, forex brokers will be able to expand the set of tradable symbols and create more interesting ones for marketing purposes.

The solution is designed to be beneficial to both parties. Traders receive a broader set of symbols to trade and brokers can offset risks by hedging orders. However, by splitting original symbols into other fractions, you cannot merely send those orders to liquidity providers as the symbols differ too much. To solve this issue, the solution comes with a built-in hedging functionality that converts synthetic symbols back into the traditional variants used by liquidity providers or other brokers.

Brokeree’s other recent product releases include a Bonus Manager and Extended Dealing products for MT5 brokers, PAMM for MetaTrader 5, and a Bitcoin feed for MetaTrader 5 brokers.

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