The mtm full form in upstox is Money Transfer Module. Money transfer module transfers money from one user to the other user, based on a specific instruction of the first user. In short, it has been designed for those who trade regularly and use a broker that Tradesight does not support with their MT4 brokers.
There are a lot of different MT4 brokers in the market and many services that offer a good trading experience. For example, Oanda offers a Web trader service with MT5 platform to Trade Sight users from 110 countries at very low cost. However, some traders have been asking if they can still transfer their money from Oanda’s platform to Trade Sight, as Oanda does not have a MT4 broker.
MTM is the only feature that comes up with a solution to this. If you use Oanda’s Web trader service and you want to send your money from there to Trade Sight account or from Trade Sight to your Oanda account, TradeSight provides MTM service at no extra cost.
Please note that MTM supports only OANDA MT4 data feed, there is no additional charge for the service.
The new release supports the following :-
1. Money transfer from OANDA Web Trader (only MT4) to TradeSight account
2. Money transfer from your TradeSight account to OANDA Web Trader Account.
3. Ability to send money in multiple batches instead of one by one for better performance and speed.
4. Ability to send money in multiple currencies at once, instead of one by one for better performance and speed.
5. Ability to see status of your money transfer requests
6. Ability to cancel the request if required
7. Ability to resend or amend the request if it is not received or meets with an error.
8. Ability to see your requests history for all transfers you did through the system.
9. Ability to set reminders on your request (get alert once status is changed or remains in waiting after processing)
10. Ability to add email address of the receiver so that he gets a confirmation message when funds are sent from his account.
11. Ability to add email address of the sender so that he gets a confirmation message when funds are received by the receiver.
12. Ability to track status of your money transfer requests in real time including amount sent, date sent, currency type and payment method selected, etc..
13. Ability to send request money to multiple receivers at once.
14. Ability to send request money to multiple receivers in different currencies at once.
15. Ability to change the status of your pending requests and send reminders on those requests for better performance and speed.
16. Ability to check history of all transfers sent by you through TradeSight MTM system .