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Metatrader 5 launches futures and options from the Borsa Instanbul Derivatives Market

Sep 12 2014
By
Metatrader 5, the not very successful successor of the popular Metatrader 4 trading platform, is partnering with the Turkish stock exchange to offer futures and options from a new Borsa Instanbul Derivatives Market (VIOP) section.

Most of the traders worldwide, save for Japan, are still using Metaquotes’ Metatrader 4 as trading platform. The next generation of the popular MT4 is called Metatrader 5. It has been launched in June 2010 and since then has struggled to gain popularity. Not many of the forex brokers using MT4 as a main client trading terminal are even offering MT5.

Why so? The main two reasons are: i) automated trading bots, called expert advisors, which are hugely popular in MT4, cannot be used in MT5 since the programming language they are written in is not compatible with the latter platform and ii) MT5 does now allow hedging and is applying the first in, first out (FIFO) rule by default.

Although Metatrader 4 is still the most widely used platform Metaquotes is struggling to impose their next generation trading platform and is slowly losing client base. For instance one of the biggest Japanese brokers, Monex Inc., has recently discontinued MT4 in Japan and has sold its MT4 client base in US and Australia to FXCM. On top of that more and more traders and brokers are choosing other trading platforms like cTrader or Tradable. For example, the mentioned above Monex is in fact replacing MT4 with Tradable and FXPro new web platform is based on cTrader.

Probably in order to find a new market for MT5 Metaquotes has decided to offer instruments from the Turkish stock exchange. Borsa Istanbul (BIRS) is the only stock exchange in Turkey. It has c.a. 280 members and its daily trading volume has reached 3 billion Turkish liras ($1.36 billion). Only the customers of brokers that have already purchased MetaTrader 5 Gateway to Borsa Istanbul may trade futures and options from the BIRS derivative markets (VIOP).

Metaquotes new partnership is clearly targeting the Turkish population and local brokers. With the estimated $100 billion forex monthly traded volume in the country (FXCM alone reported $263 bn in July) it is not like this move will solve the problem Metaquotes faces – that 4 year after its launch MT5 is far from succeeding MT4. Time is ticking though.
 
TAGS: metatrader5  mt5  borsa Istanbul  birs  viop 
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