CPattern, a provider of retention management systems for the retail foreign exchange and binary options industry, has had its recently introduced Floor Management system made compatible with MetaTrader 5 (MT5).
The Floor Management system was initially released back in late 2016, and provides brokers with a variety of actions when to comes to monitoring their books and client databases. The module-based solution has to date been made fully compatible with all CRM systems and major trading platforms.
As such, the technology caters to brokers looking to manage and streamline their back-office systems. As acquisition costs are increasingly trending higher and compliance requirements have also followed this trend, brokers are after new approaches to optimizing their performance. Following a development process, CPattern has now fully integrated MT5 into its Floor Management infrastructure, which will now enable MT5 brokers to implement front-end modules within 48 hours.
The development at CPattern is important as its Floor Management module, including compliance modules, risk modules, and APIs for brokers, among other elements, will now be fully supported within the MT5 framework. CPattern’s reliance on MT5 represents a growing trend in the FX industry, with other groups, brokers, and technology providers following suit towards the newer platform iteration. For years, MT4 use has been firmly entrenched in the industry, though a gradual shift towards MT5 has begun to take place with an increasing number of brokers opting to go with MT5.
Historically, MT5 has largely failed to achieve the same market penetration as its predecessor MT4, though this trend could be changing with a greater emphasis from Metaquotes themselves and higher demand. Additionally, Metaquotes has also seen an uptick in builds, updates, and other benefits that have collectively facilitated the growth and spread of MT5.
According to Oded Shefer, Chief Executive Officer of CPattern, in a statement on the development and emphasis of MT5: “We realized that the market is gradually shifting to MT5 and decided to be ready and anticipate the change. We now focus more on the FX industry and therefore MT5 integration is a crucial element in our offering.”