Russian fintech company MetaQuotes said on Friday it has released a demo version of the Web MetaTrader 5 (MT5) multi-asset trading platform. It allows the use of the web-based platform in a more mobile-friendly way on smartphones and trading from any mobile browser.
The beta mobile web platform provides some basic trading features, but more advanced elements, such as indicators and graphical objects, are to be added in the next stage of the application development. The available features include online quotes of financial instruments, trading orders, history of trades, 9 timeframes (M1-MN), and display of volumes and trading levels on the chart.
The development and launch of the mobile web platform was in response to the requests of traders and brokers, MetaQuotes said.
MT5 is the successor of MT4, which is the worlds’ most widely-used forex trading platform. Both platforms offer access to the forex, contracts for difference (CFDs), options and futures markets, but the MT5 also has a function for stock trading. It is available in a web-version, in addition to an app for desktop and mobile devices, and the just-launched mobile web version.
The platform uses MQL5 programming language and allow automated trading via Expert Advisors (EAs). It 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.
MT5 has been increasingly gaining momentum as the number of forex brokers and traders using it has been growing. One reason for this is the fact that MetaQuotes has announced intentions to no longer support updates for the MT4, but to switch its focus on the MT5 instead.