Operating on MT4? Here are spring cleaning tips to maximise your performance
Author: Baiana Kashaeva
MetaTrader 4 might no longer be sold officially, but many brokers continue using the platform. And if you’re not planning to upgrade from MT4 just yet, then today’s tips will help you make the most of your current environment.
First of all, optimise your MT4 storage space to avoid freezes and crashes by archiving logs you no longer need. At TFB, we’ve helped many clients improve their performance by removing logs that held no value but kept taking up space.
Spring cleaning for your brokerage
Since we are on the topic of optimising our operations, it’s a good time to get rid of things that don’t serve your brokerage in general.
Not sure where to start? Here are the tried and tested steps that you can take.
Identify and automate all manual work
A brokerage is a high-risk enterprise. Every day, brokers deal with large amounts of data and are responsible for third parties’ finances. Anything you do manually can potentially lead to mistakes and cause chaos. Moreover, it’s simply time-consuming! Why spend hours on different tasks when software can complete them in minutes?
Remove the risks
We’ve already mentioned the risks associated with manual work, but the risks don’t stop there. Run a risk analysis to see what potential threats are most relevant to your brokerage, and start working through them one by one, beginning with the ones most likely to occur and cause the most damage.
We’ve already talked a lot about risk management because this is a topic we are passionate about. In our previous blog posts, you can read about risk response strategies and tools to evaluate risks to catch up on the theory and find out ways to avoid the most common broker risks.
Make daily operations easier
Another take on spring cleaning your brokerage is to focus on process optimisation. Some things are cumbersome and hard for no good reason. Take the time to notice such needlessly tricky processes and ask if anyone notices that something is taking more effort than it should. Once you have these issues in front of you, work out a way to streamline them.
Whether you use only MT4 or pair it with other trading platforms, you must consider process optimisation and regular deep cleaning activities for your brokerage. Just like clutter at home, inefficiencies tend to pile up and spiral out of control if left unattended. Letting that happen to your brokerage creates all kinds of risks, from the system failing during the trading process to losing your clients to competitors because you’re not robust enough.
At TFB, we are always ready to consult and assist you on this journey. You can email us at firstname.lastname@example.org with any questions.
OF ANY PRODUCT