Menaсorp Offers Trading on DGCX via MetaTrader 5

Menacorp, a leading brokerage firm operating out of Abu Dhabi in the United Arab Emirates (UAE), is launching the MetaTrader 5 (MT5) online 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 for their customers wishing to trade on the Dubai Gold and Commodities Exchange (DGCX), the first derivatives exchange in the Middle East and North Africa region.

Traders will gain access to all instruments available at the Middle Eastern financial and commodity derivatives exchange via the MT5 platform, which is the successor of the hugely popular MetaTrader 4 (MT4) MetaTrader 4 (MT4) MetaTrader 4 (MT4) functions as a comprehensive platform for trading foreign exchange (FX), analyzing financial markets, and using expert advisors. Despite the emergence and adoption of the newer MT5 variant, MT4 has remained the dominant and de-facto platform utilized by brokers since its release by MetaQuotes Software since 2005.MT4 is widely used in the online retail foreign exchange space by traders. The software is licensed to FXbrokers who provide the software to their clients and consists MetaTrader 4 (MT4) functions as a comprehensive platform for trading foreign exchange (FX), analyzing financial markets, and using expert advisors. Despite the emergence and adoption of the newer MT5 variant, MT4 has remained the dominant and de-facto platform utilized by brokers since its release by MetaQuotes Software since 2005.MT4 is widely used in the online retail foreign exchange space by traders. The software is licensed to FXbrokers who provide the software to their clients and consists Read this Term), developed by MetaQuotes Software.

The move by Menacorp to adopt MT5 is rather curious, given its overall lack of uptake among trading firms. Consequently, the very thing that made MT4 so popular – namely, that a huge development community sprung up around it providing customization – is strikingly absent from its successor.

Nevertheless, Menacorp’s status as the number one broker on UAE exchanges will likely not be harmed by offering the new trading technology on the DGCX.

Commenting on the decision, Gaurang Desai, Interim CEO of DGCX, said: “We extend our congratulations to Menacorp to become first DGCX member to use MetaTrader 5 platform and offer our products to their customer base. This partnership comes at a time when DGCX has recorded the highest Open Interest ever in its 10 year history and with dynamic platforms like MetaTrader 5, we expect increased participation and fresh enrollments across the MENA region.”

"We are very delighted to be a member on DGCX as we believe that it has a great future and we look forward to being a very important and active member. DGCX will help us diversify our product offering to our clients. We made sure to use one of the best software for trading futures which is MetaTrader 5," comments Ayman Al Satari, Deputy Managing Director Brokerage at Menacorp.

"We also congratulate Menacorp on the successful implementation of MetaTrader 5 to DGCX," adds Renat Fatkhullin, CEO of MetaQuotes Software. "This step has significantly expanded the opportunities of the broker's clients.”

In June, Menacorp became the first entity in the region to receive Derivative Membership under NASDAQ Dubai Limited, receiving a full mandate to act as a trading and clearing member for securities and derivatives in the Middle East.