Metaquotes has announced that it has officially launched trading on Asia’s oldest stock exchange, the Bombay Stock Exchange (BSE).
The decision to facilitate trading on the BSE through MT5 is part of a wider agenda to increase the reach of the trading platform, both in terms of available financial assets and markets, and to appeal to a growing geographical client base.
Interested traders are now able to begin demo trading by opening an account on MetaQuotes BSE demo server. Once an account has been opened, the user will have access to receive live quotes of various financial securities that are features on the BSE.
Manoj Choudhary, Head of MetaQuotes’ Middle East office, said in the company’s statement: “We are pleased to announce the start of MetaTrader 5 integration with BSE. We are optimistic that brokerage houses associated with BSE will be able to offer their clients trading in Indian Markets through the #1 multi-asset platform.”
Moreover, Metaquotes has provided access to the stock exchange’s historical data and enabled the application of technical indicators and other tools that enable proper and in depth technical analysis. While the current capabilities only support trading on Metaquotes’ demo server, it is a start that will in turn promote full access to live trading on the BSE and its associated securities.
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Ashishkumar Chauhan, the Managing Director and CEO of BSE, commented on the affect that the Metaquotes integration will have on the stock exchange. “After the successful integration of currency segments with MetaTrader 5, we will be extremely happy and excited to integrate more BSE finance instruments with MetaTrader 5. I am sure this is an important and long-awaited development for the Indian community of traders and investors.”
Expanded Features and Access to MT5
MetaTrader 5 has been at the forefront of attention in recent months, following Metaquotes’ decision to stop any further sales of its renown and wildly popular MetaTrader 4 trading platform.
Metaquotes has been ramping up its efforts to increase global adoption of the MT5 platform, and the recent enabling of BSE compatible assets and price feeds, further exemplifies such efforts.
Metaquotes is highly active in addressing any features and market access that is currently lacking from the MT5 platform. In January of this year, the company unveiled a new B2B marketplace for third-party solutions for Metatrader 5, in an effort to receive feedback, and improve the trading platform based on users’ requests.
The large-scale transference of brokers toward MT5 has been steadily expanding. More FX and CFD brokers are moving their trading activity to the newer and more upgraded version of the trading platform.
As Metaquotes will no longer offer brokers support for the outdated MT4 platform, it is likely that we will continue to witness the wide migration toward MT5 in the coming year.