MetaQuotes carried out an update to its trading platform, Build 711, over the weekend, just after the developer’s announcement on Friday that MT4 Build 710 has been released.
The new release contains several bug fixes and updates to problems that were found in various aspects of the MT4 platform. Strategy Tester, MetaEditor, the MQL4 language, the news tab and the trading terminal all received some tweaks with the latest builds.
The most interesting update, from the point of view of the forex technology industry, is to MT4’s built-in trading signals service. The display of signals has been completely redesigned. With new features added, the design and usability of the signals service have improved, according to MetaQuotes.
The MT4 standard signals tab now looks more like the standalone copy trading services of the leading providers, such as Tradency and ZuluTrade. The MT4 list of signals now contains growth charts and a subscription to a signal is now available directly from the list. Additionally, signals can now be added to a favorites list and the context menu has been removed.
The view page for individual signals has also been updated. An option to favorite a signal has been added and the total state of the signal account is now displayed when hovering over “Growth”. The statistics offered on the signals has expanded, showing the total amount of subscribers’ funds, the trading account lifetime and its average position holding time.
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New tabs were also added: Risks – information about the best and worst trade operations and series of operations, and information on drawdowns. Reviews – reviews of signal subscribers. News – through this tab the signal provider can inform subscribers of any change in the signal and post other useful information.
In March of last year, MetaQuotes announced that they consider many popular services that populated the MT4 ecosystem to be in violation of its license agreements, based on allegations of reverse engineering and hacking of its system. The first to be affected from the resulting ban were the copy trading developers. If it was not clear before, with this latest move MetaQuotes shows its full intent on annexing the trading signals business.
Trader Focused Updates
The most important update from an average MT4 trader’s point of view, is a new Exposure tab added in the Terminal window to show the summary information about the state of a trader’s assets for all open positions. This new Exposure tab contains useful account information, such as a client’s position volume for each currency or financial instrument, including leverage, currency or instrument rate in relation to the deposit currency, as well as the amount of deposit currency (excluding leverage) actually expended to buy/sell the currency or trading instrument.
Another interesting update is that search results now contain blogs. In this new section, traders share information with the MT4 community. MetaQuotes describe it as such: “Here you will find news from around the world on a variety of topics – rumors about companies, reports on countries and industries, market analysis, the latest trading developments, and much more. Share your ideas and trading achievements in the Blogs!”