OANDA Corporation has stood by its reputation of a technology-driven Forex broker – the company has just rolled out a new product for the Metatrader 4 platform across its subsidiaries in several regions.
Clients of OANDA Europe, OANDA Asia Pacific and OANDA Canada are now able to make use of MT4 Hedging Compatibility. The new product, as its name suggests, simulates the trading of multiple long and short forex and CFD positions in the same instrument (known also as “hedging”) over the OANDA MT4 platform.
To view hedged trades, one first has to enable an OANDA MT4 sub-account. When signed in to such an account, the OANDA MT4 platform will display hedged trades while the fxTrade transaction system and platform (which will remain the system of record) will continue to net out positions.
The fxTrade platform should be used to obtain precise account information, like account balance and transaction history. The OANDA MT4 platform will calculate Margin Used and Margin Available according to the longest leg of open hedged positions, enforcing maximum trade sizes based upon those margin calculations. The fxTrade platform will be using the net position for Margin Used and Margin Available, and margin closeouts will be triggered according to these calculations.
One of the biggest advantages of the new product is that it allows clients to use expert advisors (EAs) that use hedging as their trading strategy. Another advantage that will also make fans of EAs happy is that the new product will permit simultaneous trading with several robots without the need to worry about them conflicting. Well, MT4 has always been cherished for its friendliness towards automated trading.
OANDA’s team has confirmed that they have plans to roll out the new functionality to clients registered with OANDA Australia and OANDA Japan in the future.