MetaQuotes has just reported that the company is continuing to observe an increase in demand for the company’s MetaTrader 5 trading platform. The firm has recently committed to enacting a transition of the industry away from the legacy MetaTrader 4 solution that has been on the market for over 10 years.
The software developer of the two most popular platforms for retail traders shares that the number of brokerages that are offering MT5 with hedging has increased to over 100. The most recent additions are several brokers including ActivTrades, Just2Trade, NAS Broker and Halifax Investment Services.
MetaQuotes states that the number of new broker customers that are using MetaTrader 5 is growing every week.
With the licensing fee for MetaTrader 4 being about 4 times higher than for MetaTrader 5, the transition that MetaQuotes is after could well happen faster than expected. Recently the company increased the monthly support fees for its legacy platform by a third.
The transition has been made possible after the developer of the platform introduced the hedging feature earlier in April.
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“From the early days, following the launch of MetaTrader 5, the request for hedging has been a constant. It was something desired by traders interested in exploring the potential of the platform but put off by the restriction on hedging. Now that is available we expect to see an increase in the demand for MetaTrader 5,” said the International Desk Manager at ActivTrades, Ricardo Evangelista.
After the introduction of the hedging option, the main roadblock for the MetaTrader 4 to Meta transition has been the necessity for clients to recode their algorithmms into the new MQL5 programming language.
That however could well be an worthwhile effort according to Senior Analyst at NAS Broker, Oleg Sergeev: “Multiple exciting technological innovations allow professional traders to increase their trading efficiency right now: the advanced MQL5 programming language, the MQL5 Cloud network, the new timeframes and the main features – the depth of market and the new strategy tester.”
The multi-asset aspect of the platform has been recognized at the Finance Magnates London Summit, where the platform won the award for best multi-asset trading platform.
The Head of Operations at Just2Trade Online, Evgeny Zhilin, explains: “Currently, Just2Trade clients have direct access to over 9 000 tools on NYSE, NASDAQ, LSE, FSE, MOEX, CME, NYMEX, ICE, EUREX, as well as the Forex market from a single account on the MetaTrader 5 platform.”