Cypriot forex broker FXTM announced earlier this week that it adds the web-based version of the MetaTrader 5 (MT5) platform to its offering. MT5 WebTrader is now equipped with hedging functionality, which allows traders to open multiple Buy/Sell orders simultaneously and thus get additional protection. In fact, FXTM adopted MT5 desktop version with the hedging option on in late July this year, so the feature is not new to the broker’s clients.
The web-based version of the MT5 platform already has the full set of functionalities of the desktop platform. It offers real-time market depth, advanced strategy testers, extra pending order types, and extensive technical and fundamental analysis tools, among others. In all fairness, MT5 WebTrader has one significant advantage over the PC version - it does not require the installation of additional software and can be used across all operating platforms and browsers.
Due to the number of enhancements made by its developer MetaQuotes lately, and most notably the hedging option finally added to it in late March, MetaTrader 5 is gaining a momentum. In addition to hedging, the fintech company introduced a number of features to the platform, 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.
It looks like software developer MetaQuotes focuses on MT5 and tries to ultimately phase out its predecessor, MetaTrader 4, which is still preferred by most traders. Previous week the fintech expressed its intentions to turn entirely to MT5 trading platform and to stop issuing updates to the MT4.
FXTM supports both platforms, developed by MetaQuotes. The broker offers trading in more than 100 instruments, including forex, spot metals, and CFDs on stocks, commodities, and exchange traded fund (ETFs).
The broker is based in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC), which allows it to provide its services across the EU. Earlier this year, the broker acquired a license from the Financial Services Board (FSB) of South Africa. It has also set up a London-based unit.