Leading EU broker XM officially announced it has launched the MetaTrader 5 (MT5) platform. In addition to the existing product offerings (FX, CFDs on Indices, Metals and Energies) the MT5 will allow XM’s clients to trade in CFDs on shares, such as stocks of Facebook, Apple, Nike, Coca Cola, eBay, Pepsi, etc.
The newly launched platform is flawlessly connected to all existing systems and is believed to be a game changer for XM. Unlike the MT4, the MT5 platform allows execution of orders in several financial markets, including stock exchanges, through a single trading account. XM’s product portfolio currently includes a total of 300 instruments and it indends to populate with more and more offerings as time goes by.
“I feel that the predecessor of MT5, the globally acknowledged MT4, is a great platform and has proved itself, but it could only satisfy the needs of a certain audience and that would be FX traders, while MT5 is open to a whole new audience in addition to FX traders”, commented Chris Zacharia, Marketing Director of the XM Group.
According to data provided by the developer of both MT4 and MT5, Metaquotes Software Corp, XM is currently the biggest MT4 broker with over 20 MT4 servers available and with over 1,000,000 clients, but with the addition of the MT5 to our platform offerings we are automatically entering into offering a new asset class which up to now was not possible for us: that of CFDs on Single Stocks.
MetaTrader 5 continues to gain popularity among forex brokers after its developer has made a number of enhancements in the platform, the most important of which was the adding of the hedging functionality. What is more, MetaQuotes even announced it will stop updating the MT4, as it tries to strengthen MT5’s position on the forex and CFD market.
XM is a brand of Trading Point Holdings Ltd., a company regulated by the Cyprus Securities and Exchange Commission (CySEC). Apart from its units in Cyprus and UK, it also has a subsidiary in the UK, licensed by the Financial Conduct Authority (FCA), an Australian unit, which holds a license from the Australian Securities and Investments Commission (ASIC). Furthermore, the XM group is registered with the relevant authorities in several other European countries, including the Germany, Spain, Italy, Finland, and France. It has also applied for a license from the Financial Services Board (FSB) of South Africa.