Forex broker XM.com is set to expand its service offering by incorporating MetaTrader5 into its trading platform.
XM.com Collaborates with MetaTrader5 for Launch of Single Stocks CFDs
XM.com is among the most regulated forex brokers in the industry and also one of the most successful.
In a recent statement, the forex broker said it would add the MT5 platform into its trading infrastructure as part of its expansion efforts.
In the past, the MT5 platform was only available in the form of a demo and traders have highly anticipated this additional upgrade.
According to XM.com, the move was to ensure that the MT5 technology would integrate seamlessly with the other systems already on the platform.
The inclusion of the MT5 has seen the expansion of the range of assets offered on the XM.com platform. Now, CFDs on indices, energies, metals and single stocks CFDs have been added to the existing FX offering.
The broker has already informed its clients about the new additions and said they would add up to 300 instruments with higher offerings, which will be added gradually.
MT5 seeks to be better than its predecessor, the MT4, by providing retail traders in the forex space with numerous advanced features.
While the MT5 is now a brand new release, many brokers have been integrating it into their existing systems as has been witnessed by the number of forex brokers who have recently launched MT5 on their platform.
Initially, very few brokers if any were familiar with MT5 and were therefore not too keen on offering it on their trading platforms. Traders were also not demanding this technology because it was unfamiliar to them.
In a statement, Chris Zacharia, Marketing Director at XM.com said that the introduction of MT5 had been slow but that the broker was surprised by the positive feedback it has received from traders.
He added that XM.com was confident that by integrating the technology onto is already existing infrastructure, they would be able to grow the range of trading instruments they offer.
Mr. Zacharias said the ultimate goal of the brand is to grow their offering to up to 5000 single stock CFDs for different companies globally listed on the stock exchange.
In particular, the main focus is on companies listed on the NYSE, LSE, Frankfurt Stock Exchange and Nasdaq.
XM.com posits that the integration of MT5 would aid in fulfilling its audiences’ needs and meeting the demands for a multi asset trading platform.
MetaQuotes Corporation, a leading software developer produced the MT5.