There is nothing worse for a broker than clients trading on old / stale prices as they can make unlimited amounts of money with absolutely no risk.
How does the Gold-i MT4 Quotechecker solve this problem?
The Gold-i MT4 QuoteChecker protects brokers against this by continually monitoring that rates are being published and disabling trading when no rates have been sent for a configurable period of time. It even emails your support function when rates are enabled/disabled.
The QuoteChecker can operate in one of 3 ways:-
Each symbol is enabled/disabled independently of the other symbols.
All symbols in a Security Group are enabled/disabled together
All symbols in the MT4 system are enabled/disabled at the same time.
If a client tries to trade and the QuoteChecker has disabled trading they will receive a message saying “Trading Disabled”.
Multiple QuoteChecker Plugins
It is possible to run multiple QuoteChecker plugins simultaneously, the reason for doing so is to enable the client to set different "price/quote timeout" values for different Security groups.
e.g. The client want their Forex symbols to have a 120 seconds quote timeout while all their CFD's timeout at 160 seconds. In order to manage this, we need to install two QuoteChecker plugins with the specified securities in the "Ignore Securities Group" field and then setup the appropriate "Quote Timeout" for each plugin.