IceFX TraderAgent

The FOREX market is highly dynamic, mostly due to its vibrant traders. The geographical dispersion of all the factors involved ensures one can always find good deals whether wishing to sell or buy currency. As such, multiple tools have been devised to allow users to obtain the best results. IceFX TraderAgent is a MetaTrader 4 plugin allowing its users to open or close positions easily and swiftly.

This setup ensures users retain all the benefits of the main MetaTrader application, while also streamlining certain features for an overall faster and improved trading activity. It should be noted that the addon is only compatible with version 4 of the MetaTrader tool.

The utility comes in two packages – a standalone executable and a ZIP file requiring manual installation. While the former item does not require any additional information – other than that users must specify a valid path to the host application, the manual setup is performed by following these steps: copy all the folders located in the archive, then launch MetaTrader and navigate to the "File" menu. Select “Open Data Folder”, then navigate to the "MQL4" folder and paste contents, overwriting any data when prompted.

Regardless of the type of installation performed, employing the addin within the main application requires the options “Allow automated trading” and “Allow DLL imports (potentially dangerous, enable only for trusted applications)” to be checked in the “Expert Advisors” tab of the “Options” window.

After users have gone through all these preliminary steps, one can enjoy the actual benefits. These include the ability to open and close positions with just a single mouse click, thus avoiding the standard 'Order window' approach. Similarly accessible are the options for reversing a position, as well as defining trailing stops.

The application can also be configured to automatically close all or just specified positions at a certain date and screenshots can be taken upon closing or opening positions. These are great methods of keeping logs of trading operations and going over any mistakes – if such cases arise.

Summing up, IceFX TraderAgent is an asset for anyone employing MetaTrader 4 to trade on the Forex market. It streamlines many of the standard features and allows its users to increase their profits. As a plugin, it relies on the intuitive interface setup of the host program, although setting it up can be a bit difficult, more-so if opting for the manual installation.