Trading signals are coming to MetaTrader 5

Much of the retail forex trading is fully entrenched on the MT4 platform, as the upgrade process for brokers to MT5 has been slow. A few large brokers such as Alpari have launched an MT5 offer. The slow upgrading process is due to changes in the MQL language between the MT4 and MT5 platforms. The result is that traders using custom indicators for MT4 need to rewrite their programs in order to use their strategies on MT5. There has therefore not been a whole lot of customer demand for an upgrade of this platform.

Nevertheless, MetaQuotes continues to add features to MT5 to create an attractive platform. Most recent announcements have been about the server side; MetaQuotes recently announced a new client-side functionality that allows traders to share and copy trading signals. The trading signals will work through a new server that is associated with the new update of the MT5 platform.

Trade copying systems have developed significantly in recent times with products such as Currensee, eToro's copytrader, ZuluTrade and Tradency. The MT5 equivalent could become a serious competitor.

MetaQuotes Software Corp. - October 2012

MetaQuotes Software Corp. launches trading signals on the MetaTrader 5 trading platform.

Currency traders now have the opportunity to provide their signals to earn additional commissions. Other underperforming traders can choose to subscribe to these signals from a broker that offers MT5, even if it is not the same broker that services the signal provider.

To provide this new service, MetaTrader 5's features were modified and a server has been added to monitor transactions and to send signals to the trading terminals of subscribers.

Traders who wish to offer their trading signals can register on the www.mql5.com website. To receive these signals and automatically copy trades in real time, traders also need to register on the www.mql5.com website.