While MT4 is still the most popular trading platform, it is already 15 years old. It has a younger brother, MT5, which is being heavily promoted by its developer. But how does the competition between these two platforms look like, and has the time come to offer it to clients?
Until a few years ago, the number of brokers using the MT4 platform was estimated to be considerably higher than 1,000. Since then, more and more brokers have added the MT5 platform to their offer. Despite being in many ways superior to its older brother, MT5 is still second in the ranks.
Finance Magnates Intelligence conducts quarterly surveys among some brokers related to the usage of the MT4/5 platforms. As our findings show, the usage of MT5 is still far from its potential but is visibly growing. In the first quarter of 2019, exactly 94.6% of the retail volume of surveyed brokers was made through the MT4 platform. Only 5.4% of the volume was generated on MT5 platforms.
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One year later, we can observe a slight change to the numbers. In Q1 of 2020, the share of MT5 increased to 11.5%, while 88.5% of trading volume came from MT4 platforms. These numbers are average values only from brokers who offer both platforms and share their metrics with Finance Magnates. However, numbers for the whole industry should be close to it, showing a clear growing trend of MT5 usage.
The MT5 platform is being chosen more frequently, mostly due to its better capabilities, especially when it comes to multi-asset trading. Just recently, a number of world-known brokers added it to its offer, just to name Oanda Japan. According to Oanda, the platform will also be made available in other geographies over the coming months. “We also look forward to rolling it out around the world soon, in response to client demand,” Kurt vom Scheidt, Chief Operating Officer at Oanda, said.
If you would like to get these and more of the latest FX/CFD industry statistics critical for decision making in a competitive brokerage environment, get our latest Quarterly Intelligence Report.