Multi-asset broker FXTM has launched a new hedging option for its clients that is compatible with the MetaTrader5 (MT5) platform, helping grant traders the ability to effectively enter into multi-lateral positions to best cover their overall losses.
The capability has not yet been adapted by the majority of brokers, which in many cases prohibit hedging on the MT5 platform. The new function helps traders open multiple positions per single currency, which better shields them against losses, whilst fortifying a general strategy.
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FXTM traders will also gain access to the ‘close-by’ feature, which extends to hedging accounts, ultimately eroding closing costs with positions. In addition to this, the latest MT5 build will extend several strategy evaluation techniques, including Market Depth, which helps give users a view of all buy/sell prices available to them in the real-market.
According to Jameel Ahmad, Vice President of Corporate Development and Market Research at FXTM in a recent statement on the new build: “With the option of hedging, clients can take their trading to a whole new level. The latest version of the platform will empower traders to take more advantage of the changing market conditions and provide further precision over their trades – enabling them to implement, and maximize, on bidirectional trading strategies.”
The new MT5 update is the latest development at FXTM since the newly scheduled publication of aggregated trading statistics, execution speed, and customer service data across its website and platform last month. In June, FXTM unveiled its performance statistics page, which gives an in depth portrayal of a variety of services and measures on its portal.