trading platforms
FX
It is official. The Russian company Metaquotes Software released the new version of MetaTrader. This is a strategic milestone in the development of the platform and brokers are already starting to offer demos of the new platform to retail traders.
FX Trader Magazine interviewed Alexander Saidullin, Director of Trading Platform Development, to understand the differences between MT4 and MT5 and the benefits that the new platform will bring to both retail traders and broker firms. Alexander explains that MetaTrader 5 is not just a new version of the most popular forex retail trading platform. It is a complete redesign of the platform, which will give Metaquotes the possibility to enter new financial and equity markets.
Both programs have similar interfaces, but they are two completely different terminals with different trading systems, different databases of quotes and development environments. MT5 also offers higher performance and scalability than version 4. For Forex traders the new terminal offers more opportunities and information for analysis, 21 timeframes, more parameters of quotes, more technical indicators and analytical tools.
Although MT4 and MT5 are not compatible, meaning that traders have to re-program their strategies using MT5 new programming language, Alexander explains that the new system development language, MQL5, is quiet easy to learn and offers programmers the most powerful environment for writing trading robots. MQL5 is also one of MetaTrader 5 key competitive advantages, allowing MT5 to be a comprehensive analytical and trading platform.
FXTM. What are the main
differences between MetaTrader 4 and MetaTrader 5?
AS. MetaTrader 5 is designed not
only for forex. With this platform, we want to enter new financial and equity markets. This resulted in the main difference – a new trading system. In MetaTrader 5, we implemented a classical trading system which is adopted by most stock exchanges and markets. Now a trader has only one position for a
symbol with the partial close; also the unlimited number of orders and no locks. Secondly, Depth of Market is
implemented in the platform, which enables you to work in stock markets. Parameters of quotes in the Market Watch are also extended – now many different data about a price can be translated. What we offer to traders
is a powerful development environment MQL5. It includes the object oriented language
MQL5, an editor, a debugger and a multi-currency strategy tester that supports distributed testing. With such an arsenal, traders can create almost any trading robots. I think we are going to see some interesting Expert Advisors during the Automated Trading Championship 2010. As for the technical side of
things, the MetaTrader 5 platform is a further development of a distributed architecture. Now different functions of the platform
FX TRADER MAGAZINE July - September 2010 35
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