Trading technology software developer of one of the most widely used FX trading platforms for retail traders, MetaQuotes Software Corp. (MetaQuotes), today announced the beta-version release of its MT5 web-based version of the platform, according to an official company press release.
While best known for its MetaTrader4 (MT4) desktop software, and subsequent mobile and web-based versions of the MT4 platform, MT5 is the company’s next-generation trading platform that has been out already for a number of years – but not in a web-based version until now.
MQL5 account needed
According to a company blog update, MetaQuotes explains that traders can log in to the MT5 web version provided they have an MQL5 community account, including a demo from any of the multitude of brokers available that are connected to its demo and live accounts servers.
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The company said the beta version of the MT5 web platform already has the recently announced hedging features that were added in the desktop version. The beta release of the MT5 web version also features 30 technical indicators, 24 analytical objects, and the entire set of MetaTrader5 trading orders, and has been translated into 41 languages.
CEO wants traders to switch
Finance Magnates had written about that news after the company’s CEO implied that clients should make the switch to MT5, as a large number of clients still currently use MT4 due to the dependency of a vast number of expert advisors (EAs) that were built for the MT4 platform and that are still in use, among other potential reasons.
MT4 EA’s can be re-wired or modified to fit the MT5 platform, to some extent, depending on the complexity of an automated trading system and the developers that would revise the program code to make it compatible. In addition, there are a multitude of EAs already available for MT5 available on the market within the MQL5 community, for traders that either start from scratch or want to make the switch from MT4.