MetaQuotes, the creator of the MetaTrader platforms, announced this Monday that it has integrated UK-based Forex Source’s foreign exchange (FX) news feed into its MetaTrader 5 platform.
Forex Source provides educational market commentary and insights for forex trading. Subscribers to the company receive constant analysis and interpretation of the current happenings on the FX market.
The company’s news feed is divided into five news categories: “Bank order levels,” “Economic indicators,” “Central banks,” “Risk events,” and “Sentiment,” with Jarratt Davis being the news editor.
Under the agreement with MetaQuotes, Forex Source’s sentiment stream is available directly from the MetaTrader 5 trading platform, which includes the daily sentiment drivers report and the currency sentiment posts. The stream is one of the most popular application features.
Did COVID-19 Save the Forex Industry?Go to article >>
In particular, the daily sentiment drivers report explains to traders what news is currently driving certain currencies and what upcoming, and breaking news will create the next big move. The currency sentiment posts, on the other hand, outline to traders who are the strongest and weakest currencies of the day, depending on market sentiment.
Commenting on the partnership Jarratt Davis, the founder of Forex Source, said: “Integrating our sentiment stream feed into the MetaTrader platforms is very exciting for our business, because it opens up a much wider audience to our educational analysis.”
“Our product helps traders stay tuned into market moving news and assists them in understanding how to actually turn such news into profitable trades”.
MetaTrader 5 adoption continues
The MetaTrader platforms remain a standard offering from forex brokers. Although the earlier version of the platform, MetaTrader 4, remains the dominant platform, adoption of the MetaTrader 5 platform is increasing.
As Finance Magnates reported, VIPTRADE recently adopted the MetaTrader 5 platform. Furthermore, earlier this month, Australian broker AETOS began offering the platform to its clients, as did Chilean broker MercadosG in September.