After teasing the product as coming soon on its website, UK based City Index has announced that they are launching the MetaTrader 4 platform to clients. The announcement comes as IG has also stated its intentions to offer MT4 and began public demo testing of the product. For City Index, while MT4 is new to the broker, the product had existed previously at its FX Solutions subsidiary which was closed earlier this year, shortly after it exited the US market. The platform will also become available to City Index’s, IFX brand clients.
In announcing the product, City Index stated that clients will have access to additional features than the traditional MT4 platform includes, saying “City Index’s bespoke MT4 offering will provide clients with a more extensive trading package than what is currently offered by the orthodox trading platform”. Among the additional features is ‘Price Tolerance’, described as “a new feature that enables clients to control the amount of slippage they are willing to accept when trading”. In addition, City Index announced that MT4 will be compatible with other platforms, with users also being able to access their accounts on City’s full range of desktop and mobile based platforms.
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Commenting on the news, Paul Cassidy, Global Head of Marketing at City Index, said “at City Index we are dedicated to providing our FX clients with the very best retail trading services. FX trading is a major growth area and we have taken one of the most popular FX trading platforms, MT4, with its multitude of exciting customisable features and trading tools, and developed a number of enhancements to provide customers with a powerful platform that remains easy to use.”