The number of forex brokers that support trading via the MetaTrader 5 (MT5) trading platform is strongly growing, Russian software developer MetaQuotes reported on Wednesday.
More than 100 major brokers around the world offer MT5, including ActivTrades, Just2Trade, NAS Broker, Halifax Investment Services, GLOBAL FX, Global Equity Brokers (GEB) and Forexer Ltd., the fintech said.
The platform’s popularity has increased even further after the introduction of hedging capabilities – a long-awaited features. Hedging was introduced to the MT5 in late March 2016, and soon after it became available to the Android and iOS mobile versions, as well.
“The addition of hedging meets the aspirations of many traders, current MetaTrader 5 users as well as others,” said Ricardo Evangelista, international desk manager at ActivTrades. “We believe it will appeal to many, including those currently using MetaTrader 4. From the early days, following the launch of MetaTrader 5, the request for hedging has been a constant. It was something desired by traders interested in exploring the potential of the platform but put off by the restriction on hedging. Now that is available we expect to see an increase in the demand for MetaTrader 5,” he added.
MT5 is a multi-asset trading platform that offers access to a number of markets, including those for forex, contracts for difference (CFDs), options and futures markets, as well as stocks. MT5 is the successor of MetaTrader 4 (MT4), the worlds’ most widely-used trading platform.
The platform uses MQL5 programming language and allow automated trading via Expert Advisors (EAs). It is available as an application for desktop and mobile devices and 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.
Recently, MetaQuotes expressed its intentions to stop issuing updates to the MT4 as it seeks to focus entirely on the MT5. Indeed, in the past few weeks the developer has not made any significant enhancements to the MT4, while adding new functions to the MT5 on a regular basis.