Financial software developer MetaQuotes said on Friday it has made available hedging for Android users of the MetaTrader 5 (MT5) multi-asset trading platform. The new feature allows users to open multiple trades of the same trading instrument, including on opposite directions.
The news comes just a day after the company said it has added hedging system to its iOS mobile app and a week after it launched an update to its desktop version to feature hedging. For both mobile and desktop deviced, hedging is available only for demo accounts on the MetaQuotes-Demo server, but it is expected to become available for live trading in the near future.
The Android app has between 500,000 – 1,000,000 downloads and a rating of 4.3 out of 5, according to the Google Play store. It is one of the most widely-used Android forex trading platforms. No such data is available for the iOS app.
The MT5 is one of the most widely-used trading platforms for forex, contracts for difference (CFDs), options, futures, and equities trading instruments. It allows, through a single trading account, the execution of orders in several financial markets and stock exchanges. The platform features advanced charting package, trading and analysis tools, alerts, signals, and customizable indicators. The platform allows four types of order execution – Instant, Request, Market and Exchange.
The platform is based on the MQL5 programming language and has options for automated trading strategies (Expert Advisors, EAs) and is available as an application for desktop and mobile devices.
MetaQuotes is also the developer of the MetaTrader 4 (MT4) trading platform. Unlike it, however, the MT5 features functions for stock market traders.
MT5 trading is included in the offering of forex brokers WhoTrades, Exness, FXTM, IC Markets, RoboForex, Windsor Brokers, Admiral Markets, and etc.