Brokerage group WhoTrades has adopted the MetaTrader 5 (MT5) trading platform for its Multi Market Account (MMA), designed for trading of contracts for difference (CFDs) on stocks traded on key exchanges, Finam Forex, one of the broker’s units, said on Tuesday.
Traders can now use the MT5 platform to gain access to global financial markets, such as the Moscow Stock Exchange, the NYSE, NASDAQ, DAX (Germany), Globex Commodity Futures market, Nikkei (Japan), ASX (Australia), and CAC (France), among others.
MMA accounts can also be accessed via the platforms Transaq for desktop devices, web-based WhoTradeX, and MMA Mobile for iOS and Android users.
MMA accounts allow live and demo trading. They can be opened in one of three currencies – USD, EUR, and RUB. Depending on the exchange market, margin requirements range from 2% to 100% of the par value of the trade. However, over-night and weekend margins can increase by times. The commissions the broker charges also depend on the exchange market and can be either a fixed amount per trade or in dependence of the trade value, or a percentage of the trade value.
The MT5 platform is a successor of MT4, the world’s most widely-used trading platforms. Unlike MT4, however, MT5 features functions for stock market traders.
They platform is available both as desktop and mobile applications. It provides users with analytical and trading tools, technical and fundamental analysis, automated trading strategies (EAs), and custom indicators in the MQL programming language.
Companies from the WhoTrades group serve clients across 40 countries worldwide. They hold licenses by the Cyprus Securities and Exchange Commission (CySEC) with access to all EU member states and by the US’ National Futures Association (NFA).
This month Finam Forex, the Russian unit of the group, received the first forex broker license in Russia. Earlier this year, the country adopted regulatory amendments, requiring all forex brokers operating on its territory to obtain a license. Otherwise they have to cease operations as of 1 January, 2016.
Source: Finam Forex