IC Markets, an online provider of foreign exchange (FX) services and ECN trading capabilities has joined a growing group of brokers in switching over to MetaTrader 5 (MT5), becoming the latest venue to launch the platform for its clients.
The industry has undergone a gradual shift towards MT5, despite what has largely been a resistance to any alternatives away from MT4. To date, MT5 has largely failed to achieve the same market penetration as its predecessor MT4, which reigns as the most commonly deployed platform in the FX industry.
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Fast forwarding to the present, MT5 continues to see a growing level of use, with brokers gradually switching over to the newer platform iteration. This has also been instigated by an uptick in builds, updates, and other benefits that Metaquotes has implemented to help facilitate the growth and spread of MT5. IC Markets has now fully launched the platform for its entire clientele, which represents a new emphasis for the group.
Trading clients at IC Markets will be able to utilize the all-in-one platform that can help them with their manual, automated, or copy trading needs. MT5 will also garner access to a wide range of new features and designs, as well as faster speeds for IC Markets clients.
Additionally, the use of MT5 at IC Markets will aim to help bring new levels of transparency via the DoM (Depth of Market) to provide a glimpse into interbank volumes, a feature that was previously only available for exchange-traded products. Finally, clients will also gain access to the MQL5 Cloud Network to backtest any prospective trading strategies.