MetaQuotes, the Forex trading technology provider, announced a new MetaTrader 5 (MT5) web terminal Monday for forex and a contract for difference trading. The launch comes a month after the incident where Apple pulled down the company’s popular MetaTrader 4 and 5 mobile trading apps from its App Store without warning.
The suspension was due to the MetaQuotes platform being used by allegedly numerous ‘bad actors’ for scams. However, there was no warning before this sudden event happened. Yet, months earlier, MetaQuotes had been changing its policy towards offshore brokers who mainly operate from areas with less regulated laws.
Spotware Systems announced in mid-October that it would invest in infrastructure upgrades to keep up with the higher demand for cTrader, its electronic trading platform. According to recent reports, this will likely affect MetaQuotes’ market share due to increased broker sign-up requests.
‘No Need for a Mobile App’
MetaQuotes stated on Monday that, with the new MT5 web terminal, traders can “use a mobile device to fully manage their trading accounts.” The firm said that this is possible “regardless of iPhone versions and browsers” compatibility issues.
According to MetaQutoes, there is also no need to download a mobile app from either Google Play or the Apple App Store.
Beyond that, the software provider said that the new terminal provides demo access and live accounts, quotes for financial symbols, and the ability to execute trades in any market–to name a few features.
Furthermore, the company announced that the terminal was “redeveloped from scratch” and is now more optimized for speed and efficiency.
The updated core enhances the speed of response to commands and overall stability, as MetaQuotes explained. Also, the web terminal is safe to use since all transmitted info is encrypted.
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