OctaFX, the FCA regulated retail forex brokerage, has yet expanded its offering through incorporating MetaTrader 5 (MT5) trading platform into their live trading infrastructure, according to an official statement on its website.
Previously available as a demo only, the MT5 launch was eagerly anticipated after the company enabled its clients to trade on the platform’s demo accounts earlier last month. This expands the range of trading platforms offered by the OctaFX further, with MetaTrader 4 and the cTrader already available.
In an announcement to its clients, the broker informs traders that MT5 will be packaged with its new Pro Account while expecting to announce revamped account types and conditions shortly. For those who wish to open multiple oppositely directed positions in the same instrument and use the locking feature, they must register for a new MT5 account and select the Hedging system option.
MetaTrader 5, successor to the popular MT4, offers retail 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 the brokers have been really slow to begin offering it. However, the growing list of Forex brokers that launched MT5 recently could help resolve the chicken and the egg dilemma, where there were no brokers offering it because traders are not familiar with, while on the other hand traders are not demanding it because nobody is offering MT5 yet.
According to OctaFX, the MT5 platform supports a new user interface and enables users to open multiple trades for the same symbol including in opposing directions. In addition, it offers a new built-in Economic Calendar, two new types of pending orders and more than 80 built-in indicators among many others.
OctaFX established itself as a destination for dummy traders with only a $5 deposit required to open a trading account. The company’s regulatory profile shows that its brand Octa Markets was registered in 2011 in Saint Vincent and the Grenadines, but the APAC-focused retail broker has obtained the UK FCA license last year. Since July 1st, 2015 OctaFX has been a sponsor of Southampton FC, one of England´s most distinguished Premier League teams.