Financial software developer MetaQuotes said on Tuesday the trading platform MetaTrader 5 (MT5), one of its leading products, is used by four out of the 10 leading brokers in Pakistan just a year after its launch in the country. The statistics is based on data from the Pakistan Mercantile Exchange (PMEX). Some other of the leading Pakistani forex brokers are also considering to adopt the platform.
The four leading Pakistani brokers that offer the MT5 are Enrichers, Murtaza Trading Grid (MTG), Sheikh Muhhamad Shabbir, and Khadija Commodities.
“Obviously, we are the leading provider of the best solutions for online trading in Pakistan at the moment,” MetaQuotes Pakistan (METAPK) head Hamad Shah said. “Four out of the top 10 brokers, as well as the largest PMEX market maker ACM Gold are already offering MT5, while several other major PMEX members have also expressed their interest in the platform. Pakistan is a growing market with significant investment opportunities, and we are keen on further strengthening MT5 positions here”.
MTG Financials Ltd., one of the Pakistani brokers that started supporting the MT5 in February this year, has even moved up to become one of the top five leading forex brokers in the country.
In the beginning of February 2015, Enrichers Private became the first MT5 broker in Pakistan after the platform was launched on the PMEX a couple of weeks earlier. PMEX is the first and only commodity futures exchange in Pakistan regulated by the Securities and Exchange Commission of Pakistan (SECP). Last year, MetaQuotes expanded its geographical presence with its first representative offices in Pakistan, Japan, and Thailand.
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). It is available for desktop and mobile devices, and via the web after last month MetaQuotes released a web-based beta version.
Russia-based MetaQuotes is also the developer of the MetaTrader 4 (MT4) trading platform. Unlike it, however, the MT5 features functions for stock market traders. Recently, MetaQuotes has been putting a stronger emphasis on its MT5 platform, trying to prompt more brokers and traders to convert to it from its predecessor MT4, which is the world’s most widely-used forex trading platform. Recently it added hedging to the MT5 desktop and mobile platforms.
MT5 trading is included in the offering of forex brokers WhoTrades, Exness, FXTM, IC Markets, RoboForex, Windsor Brokers, Admiral Markets, and etc.