Metatrader5 receives Singapore Mercantile Exchange certification

Metaquotes launches Metatrader5 as its big hope in breaking into the exchanges market. Metatrader5 in general wasn't supposed to replace

Metaquotes launched Metatrader5 as its big hope in breaking into the exchanges market. Metatrader5 in general wasn’t supposed to replace Metatrader4 but help Metaquotes tap the exchanges market while in parallel continuing to control the retail forex one. Metatrader5 is still a buggy product and is more than a year in beta without any significant forex broker launching it live. It is available for live trading at couple of small brokers.

Metaquotes faces a completely different competition with Metatrader5 in the exchanges market as it differs much from retail forex market. For one, Metatrader5 will need to be individually certified by each exchange and only then can be sold to brokers who in turn will offer it to clients. This brings additional costs and lengthy time-lines in the sales process. Additionally Metaquotes is a late entrant into the crowded exchanges trading software market and there are quite a few big tech firms out there who are veterans in this market and hold all the certifications, know-how and contacts they need. Competing with them would be quite the challenge.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

After being approved by the Russian Exchange RTS being also approved by the Singapore Mercantile Exchange is a positive sign however Metaquotes still faces a very long battle in trying to take over the exchanges market.

Suggested articles

How the FX Industry Can Benefit from Outsourced ITGo to article >>

Six months ago we announced successful certification of the MetaTrader 5 platform by the RTS stock exchange. However, we continued to develop our platform to expand to other exchanges. And now we are pleased to announce that the MetaTrader 5 trading platform has been certified for the Singapore Mercantile Exchange. The platform now meets all the technical requirements proved by tests run by the SMX, and can connect to the exchange via a special gateway. In addition, our company has received the ISV status (independent software vendor) from the Asian stock exchange.

Now, any broker working on the Singapore Mercantile Exchange, can use our trading platform to provide services to their traders. “It is not our last step in this direction,” Eric Lee, the head of our Asia-Pacific office, said. “We have successfully created a high-quality product that meets all the requirements of the Singapore Mercantile Exchange. But we will continue our efforts to offer even more opportunities in our platform.” This year the list of supported stock exchanges will be extended. Follow the news!

Click here to access your latest copy of the Forex Magnates Retail Forex Industry Report.

Got a news tip? Let Us Know