Forex IslamicIt is impossible to be involved in Forex trading and not be aware of the MetaTrader trading platform. MetaTrader was developed and created by MetaQuotes Software Corp Company. This company has been in the industry of creating software solutions for financial requirements since 2000 and has released various Forex trading platforms too. These have proven their worth in the market for more than a decade and almost all Forex brokers depend on them.
The first product released by MetaQuotes was FX Charts. This product was followed by others like, MetaTrader 3 and the most popular MetaTrader 4. Each of these products has been an enhancement on the specific functions and features that the previous one provided. MetaTrader 4 specifically has been an extremely popular product among Forex brokers and traders alike. In fact, it can safely be said that many Forex brokers would not have achieved the level of popularity and repute without this amazing trading platform.
The Latest Offerings
Having served Forex traders and brokers for about 4 years, the MetaTrader has been superseded by MetaTrader 5, the latest offering from MetaQuotes that was released in 2010. There are various aspects of the latest version that are improvements over the previous product, including the possibility to trade in futures, options, stocks and Forex from the same platform. A single trade can be added to an instrument one at a time and other trades are added to the ones that have already been made.
There are also various other functions that have been enhanced in the MetaTrader 5. OnTimer, OnTrade and OnChartEvents are features that can process events and automatically trade opening and closing positions. The OnChartEvents is extremely easy to use and can be managed with the use of a mouse or a keyboard.
The abilities of the graphic tools in the MetaTrader 5 have also been upgraded. Extra customized functions can now be added to the charts depending on what a trader wishes to see while carrying out the analysis. History time files has also been removed, making it is much easier to clear historical records should this be necessary. Management of the entire process of trading has become extremely easy with the new version of the MetaTrader.
MetaQuotes promises to develop, test and release more products for the Forex trader in order to make it easy and convenient for retail traders to place orders and analyze data for better Forex trading decisions.