Popular trading platform MetaTrader 5 has introduced integrated payment options and a new analytics section to improve its user experience. MetaQuotes, the developer behind the widely-used retail trading platforms, also indicated that a major interface update is on the horizon.
MetaQuotes added that the recent update aims to streamline the trading process and provide detailed transaction analysis for traders. Users of MetaTrader 5 can now top up their trading accounts directly within the platform, a shift from the previous process that required navigating through multiple windows and undergoing additional authorizations.
This feature supports various payment methods, including bank cards, transfers, and different payment services. The company says that this integration is expected to simplify the trading process for users and could attract more clients to brokerage firms due to its convenience and ease of use.
Additionally, the platform now offers an in-depth analysis of trading histories, eliminating the need for third-party services for performance evaluation. This tool provides MetaTrader 5 users with insights into their trading activities, allowing them to optimize strategies and improve results. The analytics cover various aspects of trading, such as account summary, history of profitable and unprofitable transactions, and a detailed report on buy and sell orders.
Currently, these new features are available in the desktop version of MetaTrader 5 for Windows 10 or higher. Plans to include these updates in the web and mobile versions of the platform are in the pipeline.
In addition to these functional enhancements, MetaQuotes said the interface update will help modernize the platform while maintaining its familiar layout, focusing on improved charts, analytical tool controls, and a refreshed application interface.
For brokers, the company explains that these new features provide several advantages. They can now offer unique trading analytics as part of their service, and also provide these analytics tools free of charge, adding value to their offering and increasing client loyalty.
MetaTrader 5, successor to the popular MT4, offers forex traders many features that were previously only available on institutional level platforms. While this feature-rich online trading platform has been around for a while, brokers have been really slow to begin offering it. However, the growing list of forex brokers that launched MT5 recently resolves the chicken and egg dilemma, where there were no brokers offering it because traders are not familiar with the new generation. On the other hand, traders were not demanding it because no brokers were yet offering MT5.