MetaTrader administration glossary

The core MetaTrader server that holds accounts and processes orders.

It should be placed close to liquidity providers for fast execution.

The entry point clients connect to.

Access servers can be spread across regions to keep client connections fast.

Stores and distributes price history.

It supplies charts and historical data to terminals.

Keeps a copy of platform data for recovery.

Backups must be tested by restoring them regularly.

The application used to configure the MetaTrader server.

Administrators manage groups, symbols, plugins and server settings through it.

The application dealing and support teams use to manage accounts.

Permissions should follow least privilege for each team.

An interface for integrating external systems with MetaTrader.

CRMs, client areas and reporting tools use it to create accounts and read data.

A set of accounts sharing settings.

Groups define leverage, symbols, commissions, margin and routing for account types.

A tradable instrument configured on the server.

Its specification includes contract size, digits, sessions, swaps and margin.

The overnight financing charge or credit on open positions.

Swap rates are updated regularly by administrators.

The hours when a symbol can be quoted and traded.

Sessions must be adjusted when daylight saving time changes.

The margin level at which positions are closed automatically.

Set together with the margin call level per group.

A warning level before stop-out.

It alerts traders that their margin is running low.

Software connecting MetaTrader to liquidity providers.

Examples include OneZero, PrimeXM, Gold-i and Centroid.

A connector between MetaTrader and an external venue.

Some liquidity providers supply their own MT5 gateway.

The standard messaging protocol for electronic trading.

Most liquidity connections use FIX sessions for prices and orders.

A firm that supplies prices and fills orders.

Brokers often connect several LPs for better pricing and redundancy.

Combining quotes from several LPs.

Aggregation builds the best available bid and offer.

Passing client orders to liquidity providers.

Market risk sits with the LP; the broker earns spreads and commissions.

The broker takes the other side of client trades.

It concentrates risk with the broker and requires strong monitoring.

Routing some flow A-Book and some B-Book.

Rules can depend on group, symbol, size or client behaviour.

The broker’s net open risk per symbol.

Exposure monitoring alerts the dealing desk to large imbalances.

Trading activity that consistently exploits latency or pricing gaps.

Brokers track it with reports and routing rules.

An extension that adds functions to the MetaTrader server.

Plugins must be tested before production and after updates.

MetaTrader access through another company’s licence.

The provider runs the server; the broker operates under its own brand.

Switching to a backup system when the primary fails.

Failover must be designed and tested in advance.

Delay in communication between systems.

Server placement near liquidity and clients reduces latency.

A direct physical link inside a data centre.

Used to connect a broker’s servers to an LP with minimal latency.

A flood of traffic intended to take a service offline.

Access servers need provider-level mitigation.

A service level agreement.

Defines coverage, response targets and escalation for support.

Seasonal clock changes in some countries.

Trading sessions and server time settings must be reviewed when DST starts or ends.

Two MT5 position accounting modes.

Hedging allows several positions per symbol; netting keeps one aggregated position.