Platform diversity down under: Pepperstone set to launch MetaTrader 5

Australian Forex broker Pepperstone is building its portfolio of online trading platforms and has unveiled plans to roll out Metatrader 5. The name of MetaTrader 5 has appeared in the list of platforms supported by Pepperstone with a promise that the release is “Coming Soon”.

Such a move makes some sense when considering the more recent steps taken by Pepperstone, particularly its targeting of Russia and the Commonwealth of Independent States. Earlier this year, Pepperstone opened an office in Odessa, Ukraine, and launched a dedicated Russian-language website for its services. The website is gaining more functionality and also markets the pending launch of MetaTrader 5, which is well known in Russia in contrast to its relative scarcity in other jurisdictions in which most firms have stuck firmly to the ubiquitous MetaTrader 4 platform.

Worthy of note, however, is that the broker has announced the future launch of the platform not only on its Russian-language website, but also on its original (English-language) and on its Chinese websites, inferring that Pepperstone considers potential take up from other regions, a rationale shared by Admiral Markets, whose imminent launch of MetaTrader 5 was reported yesterday by LeapRate.

The broker promises that the new addition to its platform selection will feature:

– Display of currency depth of the market;
– Aggregation of open positions;
– 2 new pending order types: Buy Stop Limit and Sell Stop Limit;
– 38 inbuilt indicators;
– 39 graphical objects;
– 21 timeframes;
– 17 ways to display custom indicators.

Concerning a comparison between the programming languages MQL4 and MQL5, Pepperstone highlights MQL5 offers object-oriented programming, syntax similar to that of C++, bolstered debugging tools, and an advanced events management model.

MetaTrader 5 has been very gradually gaining popularity amid FX brokers in the face of competition from other firms, however it will be more interesting to observe how the platform will do in Australia, which is an uncharted territory for MetaTrader 5. Whilst no broker offers the platfom at this stage, some competition is beginning to materialize in this respect between Pepperstone and its Australian rival IC Markets, which has also been promising to launch MetaTrader 5 for some time.

Read Also: