The financial services industry continues to see the proliferation of the MetaTrader 5 (MT5) platform in 2019. This includes a fresh push in Southeast Asia with Cambodian derivatives broker B.I.C Markets launching MT5, per a company statement.
MT5 has seen its availability rise across global markets, with many more brokers than ever before shifting to the newer variant over industry-standard MT4. This stance was echoed by Bun Sovatdy, Chief Executive Officer of B.I.C. Markets.
“MetaTrader 5 is a more intuitive trading platform from both a front and back-end perspective, compared to its predecessor,” Sovatdy explained.
The move has been one of the more consistent trends in what has been a tumultuous year across the financial services industry, namely due to regulatory forces.
For its part, B.I.C. Markets operates as a leading derivatives broker in Cambodia and is the first company to launch the multi-asset trading platform domestically.
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In doing so, the launch of MT5 will help position the company to absorb more clients and offer a broader suite of services.
Cambodia itself has also seen a larger swath of trading activity in recent years, with renewed interest from brokers looking to shift their focus from European jurisdictions.
With a burgeoning population, the country is an ideal destination serving as an untapped resource for clients.
It will be interesting to see if 2020 will continue this assimilation of MT5, in particular across Southeast Asia. B.I.C. Markets team is looking to MT5 to serve as a springboard for its own ambitions in the region, as well.
Per the launch, B.I.C. Markets will be supporting a wide range of new features under MetaTrader 5, which includes the following:
- Full set of financial instruments
- Leverage up to 1:400
- Hedging capabilities
- Account opening functionality with integrated back office