JRG International Brokerage DMCC, an international commodity derivatives brokerage operating out of the United Arab Emirates (UAE), has expanded its offering through incorporating MetaTrader 5 (MT5) trading platform into its live trading infrastructure.
Now, JRG customers can trade the financial instruments available at the Dubai Gold and Commodities Exchange (DGCX), the first derivatives exchange in the Middle East and North Africa region, enjoying all the advantages of the universal platform.
Traders will gain access to all instruments available at the DGCX via the MT5 platform, which is the successor of the hugely popular MetaTrader 4 (MT4), developed by MetaQuotes Software. MetaTrader 5 offers retail traders many features that were previously only available on institutional level platforms.
While this feature-rich online trading platform has been around for a while, brokers have been slow to begin offering it. However, the growing list of brokers launching MT5 recently has helped resolve the chicken and egg dilemma, where there were no brokers offering it because traders are not familiar with, while on the other hand traders are not demanding it because nobody was yet offering it.
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Further implementation of MT5 in Dubai
Earlier in January, MetaQuotes has abandoned MT4, stating that it will no longer sell the legacy terminal as it turns entirely to the MT5 trading platform.
The decision of launching MetaTrader 5 by JRG International also signifies the broker’s position in the region through offering the advanced trading technology. JRG International is the oldest and largest brokerage company in DGCX and is also a member of the Dubai Pearl Exchange (DPE), Dubai Gold & Jewellery Group, Dubai Commodities Clearing Corporation (DCCC), and DMCC Dubai Gold Receipt System.
The company is licensed by Emirates Securities and Commodities Authority (ESCA) and Dubai Multi Commodities Centre (DMCC).
Commenting on the news, Jiguang Yu, CEO of AMA and Director of JRG International, said: “Our efforts are focused upon empowering traders to trade on the Dubai Gold & Commodities Exchange using state-of-the-art technology and trading tools. Our acquisition of JRG and the introduction of the MetaTrader 5 Platform will help us to serve our customers better and also extend our services to multi-asset trading communities around the world.”
Les Male, CEO of DGCX, added: “Further implementation of MetaTrader 5 will enable greater connectivity and speed for both themselves and their clients.”