Russian fintech company MetaQuotes said it has launched a coupon service for users of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platform. The new service enables MT5 brokers to support clients who wish to purchase applications and services for the platform.
Traders can receive from their brokers coupons and use them to try for free MetaTrader services that are otherwise paid.
“The new service is an important tool for motivating and encouraging active traders, as well as expanding a client base,” MetaQuotes said in a statement.
Coupons represent a text code generated by brokers. To use a code, traders have to insert it in the payment form on the MQL5.com website or the MetaTrader platforms. Coupons can be used for the purchase of a various MetaTrader additions — from virtual hosting to trading signals subscriptions.
Brokers can generate four types of coupons for MetaTrader. Below are the different options available:
- HOSTING — for paying the virtual server rental fees. For example, HOSTING-30-DSJK-B8AB-CEFC-C399-60BE — coupon for 30 USD to pay for virtual hosting.
- MARKET — for the purchase of trading robots and technical indicators in the Market. For example, MARKET-50-CFCB-B7HB-CEFC-C519-72UC — coupon for 50 USD to pay for Market products.
- SIGNAL — for subscribing to trading signals. For example, SIGNAL-40-IOPX-B1AB-GAPC-62BE — coupon for 40 USD to pay for a signal subscription.
- MONEY — for depositing funds to an MQL5.com account to pay for any service including Freelance and MQL5 CLoud Network. For example, MONEY-50-2222-7777-8888-3333-2222 — general-purpose coupon for 50 USD used to deposit funds to an MQL5 account.
Both the MT4 and MT5 are the most widely-used trading platforms for forex, contracts for difference (CFDs), options and futures. The MT5 also has a function for stock trading. They both use MQL programming languages and allow automated trading.