Forex trading platform provider, MetaQuotes have been improving its MetaTrader 5, the newer version of Metatrader 4 that has not been accepted with vigor by traders. Yesterday, Forexmagnates reported that Metaquotes announced several new features on Metatrader 5 that might attract brokers and traders to shift on to this trading platform.

Forex trading platform provider, MetaQuotes have been improving its MetaTrader 5, the newer version of Metatrader 4 that has not been accepted with vigor by traders. Yesterday, Forexmagnates reported that Metaquotes announced several new features on Metatrader 5 that might attract brokers and traders to shift on to this trading platform.

Metaquotes

For the time being, the upgrades are done exclusively for Metatrader 5 and not exist in Metatrader 4. Main upgrade includes improved SL and TP placement and fund transfer between accounts. Beside of that, there is also one-time password and easier search feature.

The upgrade enable Metatrader 5 users to enter Stop Loss (SL) and Take Profit (TP) directly on the chart by dragging the line that indicate open position. It will signifincantly shorten the process of entering orders. Metatrader 5 users now will also be able to transfer funds between accounts directly on the platform, instead of having to access client portal through their broker's website. Forex broker AGEA clients might be familiar with AGEA's streamster platform that include such feature, however, Metatrader 4 has no similar equal, and that makes it one advantage of Metatrader 5 against Metatrader 4. This feature makes it easier for traders who own several accounts in one broker to shifts his funds from one to another.

Most forex brokers and forex traders nowadays prefer to stick with the good old Metatrader 4 than moving on to its younger brother. Despite of the many facilities offered by Metatrader 5, it lacks the comfort offered by Metatrader 4. These latest development too, still rely on enriching Metatrader 5 collection of features, and have not address complaints such as the narrower charting area, inability to do hedging, and higher RAM space requirement. It remains a question, whether brokers and traders will be tempted to change their trading platform into Metatrader 5 by these new improvements.

Are you a forex trader? What platform do you use? Tell us whether you are interested in Metatrader 5 newest features.