Russian software developer MetaQuotes reported on Wednesday that the number of forex brokers using its MetaTrader 5 (MT5) trading platform keeps growing. The latest to add MT5 to its offering were Just2Trade, NAS Broker, Halifax, GLOBAL FX, Global Equity Brokers (GEB) and FOREXer.
Currently, more than 100 companies worldwide offer MetaQuotes’ flagship platform, including major brokerages such as FxPro, FXTM, Alpari, FxChoice, ActivTrades, RoboForex Alfa-Forex, to name a few.
After years of standing in the shadow of its more popular predecessor MT4, lately MetaTrader 5 has been gaining a momentum with the hedging option finally added to it, as well as number of other enhancements made by its developer. Hedging was introduced to the MT5 in late March 2016, and soon after it became available to the Android and iOS mobile applications, as well as to the web-based version.
“The addition of hedging meets the aspirations of many traders, current MetaTrader 5 users as well as others,” noted Ricardo Evangelista, international desk manager at ActivTrades. “We believe it will appeal to many, including those currently using MetaTrader 4. From the early days, following the launch of MetaTrader 5, the request for hedging has been a constant. It was something desired by traders interested in exploring the potential of the platform but put off by the restriction on hedging. Now that is available we expect to see an increase in the demand for MetaTrader 5,” he added.
It looks like software developer MetaQuotes turns entirely to MT5 and tries to ultimately phase out its predecessor, MetaTrader 4, which still is the preferred choice of most traders and brokerages.
MT5 is a multi-asset trading platform that offers access to various financial markets, including those for forex, contracts for difference (CFDs), options and futures markets, as well as stocks. The platform uses MQL5 programming language and allows automated trading via Expert Advisors (EAs). The platform allows four types of order execution – Instant, Request, Market and Exchange.
In addition to hedging, the MetaQuotes introduced a number of features to the platform recently, such as exchange markets analyzer, new charting solutions, one-click trading, chat functionality, and demo account option. It also launched a gateway to e-trading and charting platform CQG, (thus providing direct access to a number of instruments traded on global exchanges) and integrated a gateway to Swissquote Bank.