Admiral Markets has taken another step towards jumping on the zero-fee bandwagon, with the online trading provider announcing that it has expanded its zero-spread offering to the MetaTrader 5 platform this week.
With this expansion, the foreign exchange (forex) and contracts for difference (CFD) trading provider now offers its traders spreads starting from 0 pips, with commissions from $0.05 per lot and no minimum order value, via the Zero.MT5 account which is available on the MetaTrader 5 trading platform.
According to the statement released on Wednesday, the Zero.MT5 account is available through its entities in the United Kingdom, Cyprus, and Australia. Professional clients can access leverage up to 1:500 and retail clients, 1:30.
“This will give experienced traders the opportunity to reduce their trading costs while accessing the wider range of instruments available in the MT5 platform. The instrument range includes CFDs on Forex pairs, spot metals, spot energies and cash indices,” the company said in the statement.
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The increasing adoption of MetaTrader 5
The MetaTrader 4 and MetaTrader 5 platforms were developed by MetaQuotes and have become an industry standard for forex trading. Although MetaTrader 4 remains as the dominant trading platform between the two versions, brokers are increasingly adopting the MT5 platform, which expands demand for the offering and enhances the platform’s features.
In recent months a suite of brokers and trading providers have adopted the platform. As Finance Magnates reported exclusively, AvaTrade added the MT5 platform to its offering earlier this month, as did VIPTRADE in October. In the same month, Australian based broker AETOS began offering the platform to its clients, as did Chilean broker MercadosG in September.
In addition to launching the new Zero.MT5 account, Admiral Markets also revealed this week that is has renamed its existing account types, in order to better reflect their features and benefits.