MetaQuotes’ MetaTrader 5 (MT5) platform, intended for Forex traders of all skill levels, is presently the most popular trading software on the market. To meet the demands of the rapidly expanding Forex market, two major new features have been included in recent updates: access to actual trading volumes when accessing charts and the possibility for zero values, which is beneficial when dealing with assets with negative values.
In this article, we’ll show what are the MT5 improvements that make this trading platform more appealing and effective for financial market investors and traders.
What Should Traders Know About Real Volumes?
Starting with the recent addition of functionality for actual trade volumes to the MT5 platform, this is a noteworthy development. This discrepancy in trading volumes has to do with the overall nature of CFD trading. An asset’s true market value is determined by its daily trading volume, for example, the total number of Tesla shares exchanged within a 24-hour period.
When trading CFDs, investors don’t really buy or sell anything; instead, they enter into a contract with their broker, in which they agree to be paid the difference in price between what they’re speculating on. Traders lose money if that difference is negative. This means that CFDs have almost little trading activity. There is no correlation between tick volume and the amount of traded stocks, barrels of oil or troy ounces of gold exchanged.
In a recent upgrade to MetaTrader5 actual trading volume, it is supplied by the broker and shown above tick volume, has been given more importance. Naturally, the volume supplied is the sole tick volume. Real trading volume has a considerably greater influence on an asset’s price than tick trading volume, which benefits traders.
Increased negative price support
Metatrader 5 now has the option to show negative pricing for assets, which is a welcome addition. In the early months of 2020, when the Covid 19 epidemic erupted and oil prices plummeted due to a lack of demand, this was crucial. In the meanwhile, oil futures dealers hurried to sell in order to decrease transportation and storage expenses.
When this happened, the price of the item was really pushed into the negative, which meant that sellers of oil had to pay purchasers to take it. With its little modification, the MetaTrader 5 platform is ready to handle another similar incident when the need arises. This event was unprecedented in the history of commodities trading. In addition to these two significant enhancements, the latest version of MetaTrader 5 has a slew of other useful additions.
For instance, the software’s UI display performance has been improved, its chart printing functions have been improved and various bugs have been fixed. For example, a rare problem that prevented traders from creating their accounts after entering a proper phone number was corrected.
MT5 As An Industry Leader
To be a successful trader, a decent platform is essential. The greatest trading software is essential if you want to become one. The MT5 platform is now considered to be this one.
MetaQuotes, the creator of Metatrader 5, has really revolutionized the industry. First, MetaTrader4 became a standard in the market because it had three major benefits over its rivals at the time. As a result of this, the uses of the MetaTrader platform made them able to adjust their trading interfaces using a wide range of indicators, chart types, and other graphical instruments. With other trading tools at the time, it was impossible for rookie traders to have such an understanding of the markets and their fluctuations.
Second, the platform’s simple user interface drew in thousands of new retail customers thanks to its simplicity of use.
As a final bonus, MetaTrader’s automated trading tools are the most crucial. “Expert advisors” were available to customers of the trading platform. Essentially, they are trading bots created by the platform’s users.
After the success of MetaTrader 4, MetaQuotes decided to build on that success with the introduction of MetaTrader 5, the successor to MetaTrader 4. It offers a better user interface and additional analytical tools. Brokers providing MetaTrader 5 outnumbered those selling MetaTrader 4 by a wide margin, according to MetaQuotes. June 2021 saw MT5 surpass the other platform, as more brokers preferred it to the previous software. As a result of this, Metaquotes recently did research that shows a huge growth in the difference between the two platforms.
63.3 percent of the brokers who used the platforms in November 2021, used MetaTrader 5, vehicle other platforms were used by just 36.7 percent of them. Furthermore, the MetaQuotes specialists have disclosed that they anticipate the previous software to become outdated and that brokers would exclusively use MT5 as a consequence.
This isn’t a surprise, as experts have already said that it is the best platform presently available. There are ongoing updates for MetaTrader5 despite the fact that the previous platform was withdrawn for brokers in 2018. As MetaTrader 5’s popularity grows, the older software is being phased out even more.
