PSB-Forex Begins Offering Metatrader 5 to Clients

PSB-Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, the retail forex subsidiary of Russia’s Promsvyazbank PJSC, has officially activated the Metatrader 5 Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.

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Russian-based Promsvyazbank officially received its retail forex broker license in 2017, quickly launching its subsidiary to operate the bank’s retail FX agenda.

As part of its attempt to permit an easy onboarding process, it is possible to new clients to remotely conduct a framework agreement with PSB-Forex, through the online agent's bank - Promsvyazbank PJSC.

In contrast with many retail FX brokers, another strong selling point for existing and prospective clients of PSB-Forex, is the fact that the company does not charge any withdrawal fees from client trading accounts.

The Shift to MT5

As the reign of Metatrader 4 over FX trading dominance begins to dwindle, brokers are swiftly acting to incorporate its successor platform – Metatrader 5.

Last month, Metaquotes announced the official halt of further sales and support of the MT4 system. The reasons for the decision were primarily centered around the premise that the platform is outdated, and fit the technological capacity of last decade.

Metaquotes’ insistence that further developments are not practical for MT4, led the company to finalize its advancement of the MT5 platform as its staple platform. The decision was made, despite the long-standing popularity for MT4 among brokers and traders alike.

The Development of MT5

The landscape of online trading has taken a strong turn toward mobile in recent years. More users than ever placed their emphasis on obtaining access to their portfolios from mobile devices, over a wide range of features available on desktop versions. In response to this trend, Metaquotes released its latest MT5 build for iOS devices, in August of last year.

The launch of MT5 was initially met with relative resistance, as veteran FX and CFD traders insisted that the MT4 platform better met their needs.

However, various features that were not available at the launch have been implemented to meet user demand. For instance, hedging was not immediately available on MT5, as any attempt to place hedged positions would simply close out some of the initial exposure in the client’s account.

Metaquotes continues to add features that will create a better overall user experience for traders. One example is the integration of a detailed positions report, which can be produced on demand by client request.