Stocks, Forex and CFD broker Libertex is rolling out MetaTrader 5 to its European customer base.
Libertex already offers its clients MT4, but MT5 is superior from a technology point of view as well as offering more markets.
Whereas MT4 is optimised with the forex trader very much in mind, MT5 also provides access to stocks, CFDs and futures markets.
The cypriot-based trading platform has been expanding aggressively, if its marketing spend is anything to go by, and joins a crowded space of brokers who allow their customers to use the MT4 and MT5 electronic trading platforms with their brokerage accounts.
The latest news from Libertex came on Monday (5 July) as it seeks to up its competitive offering.
Commenting on the news, General Manager Europe at Libertex Andrew Nikolaev, said: “Progress is inevitable, and we see a shift in the market demand towards MetaTrader 5. It was important for us to extend the list of available solutions and to start offering platform solutions which are of interest to our customers.”
“With the newly launched MetaTrader 5 platform, traders can access financial markets through the advanced software and trade in global markets more efficiently and faster,” Nikolaev added.
MetaTrader 5 is faster and has more features
MT5 is “multi-threaded” software, which means it runs much more quickly than MT4 and is less prone to crashes because of its superior memory management.
The company was founded in 1997. It is a private company headquartered in Limassol Cyprus, giving it an important foothold in the European Union. In addition to EU countries, the Libertex trading and investment platform is also available in Belarus and South Africa. Libertex’s non-European clients already had access to MT5.
According to its website, Libertex has 2.5 million clients in over 120 countries around the world and lists markets on more than 250 tradable assets and employs around 700 people.
Forex broker news: MT4 still has the larger trading volume
Although MT5 is technologically superior, MT4 still has by far the larger footprint of the two in terms of trading volume, partly as a result of the inertia of forex traders who prefer to stick with what they know, even if more markets are accessible on the newer version of the software.
MT5 was released back in 2010 and despite developer and owner Metaquotes’ best efforts it still lags behind the older MT4 launched in 2005.
The lack of a friction-free upgrade path hasn’t helped MT5 adoption, so forex brokers tend to address client needs by offering both products to platform users.
MT4’s automated forex trading features are not compatible with MT5. However, MT5 boasts benefits such as the inclusion of depth of market data, an economic calendar, more timeframes and trading in futures, options, stocks and bonds.