Swissquote Bank, the Swiss online brokerage and provider of financial services, has revealed that it has updated its MetaTrader 5 platforms to include the hedging features introduced by the MetaQuotes company earlier this year.
Hedging allows traders to hold multiple positions on the same instrument, including in opposite directions, and its absence was a longtime drawback in MT5 compared to its older and more popular rival platform MT4.
Back in April the CEO of MetaQuotes called on the many users of MT4 to make the switch hoping that offering an hedging option will finally get them to upgrade to MT5 – Swissquote is now putting this premise to the test.
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Ryan Nettles, Swissquote’s Head of eForex Trading and Market Strategy, commented: “While Swissquote invests heavily in R&D to develop innovative and exclusive FX solutions for traders and financial institutions, we also strive to provide our clients with the best third-party software on the market, so they have the freedom to pick and choose the tools most suited to their needs.
We are pleased to count MetaQuotes among our technology partners. Swissquote’s deep liquidity will empower traders to harness the full potential of MT5’s new hedging features.”
Swissquote recently posted strong business results for the first half of 2016, with the number of client accounts increasing by 32.3 percent to 300,691 and assets under custody surging by 39.3 percent to CHF 16.1 billion.