Trading platforms

FIBO offers the MetaTrader 4 Platform, MetaTrader 5 and cTrader.

Although the MetaTrader 5 trading platform appeared in 2010, underwent some changes, and was adapted for functional use, there are still traders who treat it with skepticism. Let’s take a closer look.

What impressed users right away?

The MT5 trading platform quickly won the hearts of programmers. They use it to create trading robots. The developers of the terminal chose C++ as the main programming language, which allowed programmers to unlock the full potential of the platform for trading automation.

At the same time, it is possible to create an Expert Advisor in the platform even without programming skills. The process is simplified thanks to the Wizard service, built directly into MT5.

Other noteworthy features

• The platform includes 79 analytical tools for technical and fundamental analysis, more than enough for a comprehensive study of the forex market.
• MT5 is equipped with 21 timeframes for charting.
• A free library of custom indicators, an economic calendar, and Depth of Market (DOM) enable traders to fully track market conditions.

New tools, services, price archives, and other functions allow traders to customize the trading platform to their needs, taking into account all details and requirements, which undoubtedly diversifies the trading process.

What discourages some traders?

There has also been criticism of this powerful and modern platform. Traders with long experience using other terminals noted that the “sophisticated” MT5 interface was inconvenient and required “relearning.” However, beginner traders, who encountered the platform without extensive trading experience, considered such remarks insignificant, as one can get used to anything. After all, MT5 has “nothing unnecessary that could distract from trading.”

The MetaTrader 5 platform is quite capable of satisfying the demands of the most demanding traders, both beginners and professionals. Download and test it yourself to evaluate its potential and form your own opinion about MetaTrader 5.

Remember, successful trading does not depend on the platform you choose — only daily work and experience bring real success. You can start today together with FIBO Group.

FIBO Group Holdings provides its clients with access to the most advanced forex trading platform — MetaTrader 5. This platform is the best choice for everyone who has made trading their profession. On the website, you can download a preconfigured version of this terminal.

The MetaTrader 5 trading terminal was first introduced in 2010 and was considered a replacement for MetaTrader 4. However, the great popularity of the fourth version, its simplicity, and reliability contributed to its continued presence on the market. As a result, traders today can choose between two advanced terminals from the same developer, which differ in interface and a number of additional features.

The new, significantly improved architecture of MetaTrader 5 made it possible to implement new features, including Depth of Market (DOM), a wide range of timeframes, an expanded number of order types, the new MQL5 programming language, strategy testing, the ability to trade almost any instrument, and to purchase trading indicators and advisors directly within the platform.

The presence of the Depth of Market is a must-have requirement for professional traders. It allows them to easily assess supply and demand on the market at a given moment and to determine the path of least resistance along which a currency pair or another financial instrument is moving.

Now a trader can work with almost all financial instruments using only one trading platform — MT5. This expands opportunities for maneuvering and increases flexibility in choosing a trading strategy. Moreover, monitoring and analyzing other markets within a familiar interface and using familiar tools makes it possible to forecast forex price movements more accurately.

MetaTrader 5 was designed for extensive use of trading advisors, which are easily developed using the MQL5 language. The platform is promoted by the developer as a standalone product, and is therefore used not only by traders but also by professional programmers who create effective trading robots and complex technical indicators with it. The built-in marketplace enables the buying and selling of these developments.

To test trading strategies before using them on live accounts, a strategy tester is provided. It allows for automated testing on multiple currency pairs simultaneously, which speeds up and simplifies the process. Testing can be performed not only on a trader’s own computer but also using the MQL5 Cloud Network service.

Another innovation of the platform is the wide choice of timeframes, the default number being 21, which significantly expands the range of strategies that can be applied.

Traders’ tactical opportunities have been expanded with the introduction of new order types — Buy Stop Limit and Sell Stop Limit — in addition to the four existing ones in MT4.

FIBO Group has developed the MT5 NDD account, which allows the company’s clients to fully utilize the technical capabilities embedded in the MetaTrader 5 terminal.

The NDD (No Dealing Desk) technology implies order processing without broker intervention, meaning that all trader operations are sent directly to the market, bypassing market makers, where the counterparty to the trades are other market participants.

Brokers operating under the NDD model do not have access to traders’ funds and earn only from commissions.

NDD technology allows trading directly with the largest liquidity providers using the popular MetaTrader 4 trading platform, as well as others: MetaTrader 5 and cTrader. NDD is implemented on MT4 NDD, MT5 NDD, and cTrader NDD accounts. NDD accounts use an agency model, which completely eliminates conflicts of interest between FIBO Group and the client. These accounts operate with a market execution type of order fulfillment, known as Market Execution.

Market Execution literally means “execution at market.” This means that almost any order placed by a trader will be executed at the price available on the market at the moment the order is processed. For example, if a trader wants to enter the market with a Buy order at 1.5000, once the order is sent to the broker’s server, it goes into the execution queue. During the waiting time, prices may change slightly, e.g., rise to 1.5015, so the broker will open the position at the current market price of 1.5015. This situation is called slippage. Slippage can be positive (the order is filled at a more favorable price) or negative (at a less favorable price).

Advantages of this execution: high speed and 100% guarantee of entering the market.

Disadvantages: high risk of opening a losing position during periods of high market volatility.

Instant Execution implies that the order is executed exactly at the price indicated by the trader. Despite its literal translation as “instant execution,” orders with this execution type may take longer than Market Execution.

The main advantage of Instant Execution in forex is entering the market at the exact price specified.

The disadvantage is frequent requotes (messages informing the trader that the price has changed), or broker requests to confirm opening a trade at the new price. Traders can set an acceptable price deviation to minimize requotes. If during processing the price stays within this deviation, the order is executed with price correction.

Instant Execution is not suitable for scalping in volatile markets.