ForexVox, a London-based forex and contracts for difference (CFD) broker, has transitioned nearly all its clients (94%) from MetaTrader 4 (MT4) to MetaTrader 5 (MT5). The firm said the decision will help it “stay ahead of the market” and deliver the best solutions to its traders even as competition in the trading industry continues to intensify.
ForexVox Moves to MT5
According to the Financial Conduct Authority's company register, ForexVox has been operating since August 2020. The company was previously affiliated with Valutrades Limited, the operator of the forex and CFDs broker, Valutrades.
In an effort to boost its traders' experience, ForexVox since the summer of this year has been moving its clients to MT5. The trading platform is pursuing the goal of “providing unparalleled support to traders worldwide,” said Slava Biletska, a Director and Shareholder at ForexVox, in a statement published on the software company, MetaQuotes' website.
MT4 and MT5 are both online trading platforms developed by MetaQuotes. However, while MT4, which was introduced in 2005, has been optimized for online forex trading, the upgraded version of MT5, which was released in 2010, offers access to additional CFD markets: stocks, indices, commodities, futures, energies, etc.
“Selecting the right platform is pivotal for the company's future, especially in the context of the rapidly evolving global financial sector,” Biletska explained. “We meticulously weighed the platform's benefits and potential, and it became clear that MetaTrader 5 is the platform for the future.”
MetaQuotes Updates MT5, Launches Messaging App
Meanwhile, MetaQuotes recently updated the MT5 trading platform through a beta design. The version came with new features, such as an artificial intelligence-powered coding assistant, the ability to book or cancel orders, and enhanced support for Open Neural Network Exchange machine learning models.
Furthermore, Finance Magnates reported that MetaQuotes, whose MT4/5 trading apps were delisted from the Apple App Store in September last year, recently returned to the digital store with a messaging app that provides financial news and analytical tips for traders.
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