The EU and Australian-regulated forex brokerage XM Group announced it has launched the MetaQuotes 5 trading platform, after a series of tests.
The platform is launched with CFDs on Single Stocks (shares) and extends the broker’s offering with six new assets classes, in addition to the existing assets: forex, CFDs on indices, metals and energies.
“This day is one of those milestone events, which do not happen to companies every day”, said
Chris Zacharia, Marketing Director of the XM Group. “It is something we have been patiently expecting for a long time, and I truly believe it will be a game changer for XM, which is taking its first steps in extending its range of instruments to the stocks sphere.”
According to Zacharia, the broker plans to expand its instrument offering to up to 5000 CFDs on single stocks from companies all across the world listed on various stock exchanges including but not limited to NYSE, Nasdaq, LSE, Frankfurt Stock Exchange.
So far XM has been one of the largest MT4 brokers with over 20 MT4 servers. Zacharia, however, has noted that even though MT4 is a great platform that has proved itself, it could only satisfy the needs of forex traders, while MT5 is open to a whole new audience in addition to them.
XM, formerly known as XEMarkets, is a trading brand of Trading Point Holdings. The broker is licensed by the Cyprus Securities and Exchange Commission (CySEC), the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). It is also registered with Germany’s BaFin and is compliant with with the Markets in Financial Instruments Directive (MiFID) of the European Union. It is also awaiting licensing from the Financial Services Board (FSB) of South Africa.
The brokerage is based in Cyprus, but also has offices in Hungary and Greece. It is mostly active in some EU countries, Russia and some of the Asia-Pacific countries. It claims it has more than 700 000 clients.
XM offers trading in forex and CFDs on indices, commodities, energies and precious metals and a leverage of up to 1:888.
MT5 is developed by MetaQuotes Software and has been on the market for over five years. Until last spring, however, it was lacking a major option – hedging – which kept it in the shadow of its predecessor. After the launch of hedging on MT5 last March, however, it has started gaining momentum. Several months ago MetaQuotes said it is abandoning the development and updates for MT4 in favor of MT5.