RECOMMENDED FOREX BROKERS
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MetaQuotes Software, the financial technology company behind a couple of the most popular forex trading platforms, Meta Trader 4 and 5, released the Meta Trader 5 (MT5) beta build 1281.
The most significant novelty in the new release is the hedging option, which until now was not available on the platform. Unlike the usual netting system, the hedging one allows conducting multiple trades even on opposite direction of the same symbol. The new beta version of MT5 would let customers use the netting model to trade exchange instruments and the hedging model for currency trading using the MT5 institutional platform.
According to MetaQuotes Software, the new system of positions on MT5 would work much like that of the more popular MT4 platform, but with a few improvements. The MT5 offers enhanced order management capabilities with filing orders using multiple deals, including partial fills. The trader can also set Stop Loss and Take Profit levels and see the profit level for each of the positions.
Currently the new version of the MetaTrader 5 platform is in testing mode and MetaQuotes Software invites everyone interested to participate in the testing. All one must do is create a demo account on the MetaQuotes demo account and log in. The MT5 platform will be updated to Build 1281 and the user can select the “use hedge in trading” option. The developer urges everyone who finds an error in the program to let them know through the mql5.com forum or create a Service Desk request.
MetaQuotes also notes that:
1. Subscription to trading signals from hedging accounts does not work.
2. Trading on a new hedge account works correctly only in MetaTrader 5 build 1281 and later builds.
3. Some trading robots may trade incorrectly on a hedge account.
4. Scripts, Expert Advisors, and indicators compiled using the new MetaEditor build will not run on virtual hosting.
Other novelties in the new MT5 beta version included updated user guide with illustrations and video tutorials and trading of forex and stock exchange from one platform, i.e. MT5.
The MT5 is one of the most popular trading platforms for forex, contracts for difference (CFDs), options, futures, and equities trading instruments. The platform utilizes MQL5 programming language and has options for automated trading strategies (Expert Advisors, EAs) and is available as an application for desktop and mobile devices.
Its predecessor MT4, however, is more popular and widely used, partially thanks to the hedging function it includes.