RaiseFX Expands MetaTrader 5 Asset Classes, Ventures into New Regions

Thursday, 02/11/2023 | 15:23 GMT by Jared Kirui

The brokerage firm generates billions of dollars in monthly trading volume through MT5.

RaiseFX has obtained essential licenses in its global expansion strategy.

RaiseFX is expanding its operations into new regions, including Asia, Africa, the Middle East, LATAM, and the Gulf Cooperation Council. This expansion has arrived as the brokerage firm gains momentum, boasting over 50,000 active traders who collectively generate more than USD $20 billion in monthly trading volumes through the MetaTrader 5 (MT5) platform.

In an official statement, the company mentioned that MT5 has become the preferred choice for traders seeking flexibility and innovation. It offers advanced charting tools, algorithmic trading functionalities, backtesting, and one-click trading capabilities.

RaiseFX Embraces MT5

David Bottin, the CEO and Founder of RaiseFX, stated: "We are constantly looking to improve the trading conditions for our traders. Improving our asset classes offered in MT5 was our most logical step. We realized that a lot of active traders from all over the world are struggling with poor trading conditions and a lack of customer support from their broker."

Recently, RaiseFX has acquired new licenses as part of its effort to expand its services. Among these licenses is the Category 1 Financial Services Provider license from the Financial Sector Conduct Authority in South Africa. According to the company, this move underscores RaiseFX's dedication to providing a range of trading products in a regulated environment.

Apart from its integration with MT5, RaiseFX has made key appointments since its debut in 2022. In May, the FX/CFDs broker appointed Dany Mawas, the former Regional Director for Africa at INFINOX Global, as its Chief Commercial Officer. Mawas also held the role of Global Head of Retention at INFINOX.

Expanding to New Markets

RaiseFX has established a significant presence in African countries, such as South Africa, Zambia, Tanzania, and Botswana. Furthermore, the brokerage firm has set its sights on Nigeria, demonstrating its commitment to expanding in the African market.

Presently, more brokerage firms are migrating their clients to MT5 platforms. ForexVox, a prominent London-based forex and contracts for difference broker, announced in July that it was migrating most of its clients, a staggering 94%, from MetaTrader 4 (MT4 ) to MT5.

Both MT4 and MT5 are online trading platforms developed by MetaQuotes. MT4, introduced in 2005, primarily focuses on online forex trading. In contrast, MT5, launched in 2010, offers access to a broader range of CFD markets, including stocks, indices, commodities, futures, and energies.