Leading Swiss online trading, banking and investment services provider Swissquote Group Holding SA (SWX:SQN) has announced that it has updated its MetaTrader 5 platforms to include the latest hedging features recently introduced by MetaQuotes.
Hedging enables traders to have multiple positions per symbol, including oppositely directed ones, which allows more sophisticated trading strategies resulting in increased protection for the trader.
A new trade operation type, “Close By”, has also been added for hedging accounts. It lets traders close opposite positions on the same symbol, while saving on spreads.
Ryan Nettles, Swissquote’s Head of eForex Trading and Market Strategy, commented:
While Swissquote invests heavily in R&D to develop innovative and exclusive FX solutions for traders and financial institutions, we also strive to provide our clients with the best third-party software on the market, so they have the freedom to pick and choose the tools most suited to their needs. We are pleased to count MetaQuotes among our technology partners. Swissquote’s deep liquidity will empower traders to harness the full potential of MT5’s new hedging features.
Swissquote recently posted strong results for the first half of 2016, with the number of client accounts increasing by 32% to 300,691 and assets under custody surging by 39% percent to CHF 16.1 billion.
Swissquote is also in the midst of a rebranding, reported exclusively by LeapRate, which so far has included a change in the company’s logo (as per above) and main website design.