Less than two years after launching in Pakistan, MetaQuotes Software’s MetaTrader 5 platform (MT5) has managed to permeate the domestic market, with no less than four top-10 brokers utilizing the utility, according to a MetaQuotes statement.
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Metaquotes has ironed out a role as one of the leading trading software development companies in the foreign exchange (FX) industry. Its MT5 platform originally expanded into Pakistan back in January 2015, having achieved access to the Pakistan Mercantile Exchange (PMEX). Since then, Pakistan has seen an influx of trading volumes as well as usage from the MT5 utility.
While not as widespread as its predecessor, the MetaTrader 4 platform, MT5 is a truly globally utilized option that’s relied on by brokers in virtually every trading jurisdiction. The platform has experienced strong growth and exposure in Pakistan however, which has as of late been an exotic market for trading related products and instruments.
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Since launching in early 2015, MT5 has now been picked up by leading brokers in Pakistan, according to PMEX data. MT5 builds on a long lineup of successful platforms and upgrades at MetaQuotes, which enables access to a versatile tool set for trading in all financial markets, boasting detailed technical and fundamental analysis and trading robots, along with the usage of comprehensive trading strategies through technical indicators and scripts.
Currently, the brokers utilizing MT5 in Pakistan include (based on contracts) Enrichers (Pvt) Limited, which captured the number two spot, and Khadija Commodities (Pvt) Limited, which came in at number 10. Murtaza Trading Grid (Pvt) Limited (#5) and Shiekh Muhammad Shabbir (#9) rounded out the top brokers using MT5 based on trading value.
According to METAPK’s (MetaQuotes Pakistan) Head Hamad Shah, in a recent statement on the success of MT5: “Obviously, we are the leading provider of the best solutions for online trading in Pakistan at the moment. Four out of the top 10 brokers, as well as the largest PMEX market maker ACM Gold are already offering MetaTrader 5, while several other major PMEX members have also expressed their interest in the platform.”
“Pakistan is a growing market with significant investment opportunities, and we are keen on further strengthening MetaTrader 5 positions here,” he reiterated.