Meta Trader 5 is only for NFA brokers and clients
Both the NFA and MT5 are losers......
You are wrong... My broker is FXDD, and I now use a fully compliant version of MT4 which doesn't hedge. So, the theory that MT4 could not be made compliant, and MT5 became necessary is simply not true.
I don't know who inside MetaQuotes pushed MT5 into being, but it is the big loser. MetaQuotes has had five product generations now to field and upward compatible product, and has again failed to do so... to their own detriment. Trading enterprises, are not going to keep replacing all their software every time MetaQuotes wants to release another platform.
I have personally used both MT4 and MT5, coding indicators and EAs, and I can do things with MT4, that are impossible to do with the MT5... so, we all lost a lot capability here... if MT5 is ever a manadatory change... not just those that have to submit to NFA regulations... However, I don't believe that MT5 can ever actually become a mandatory change... to many workarounds, and too many users would jump ship and use alternative trading methods and practices should that be forced upon some users. I believe my broker is still supporting a trading version of MT3... so, if the plan was to use NFA regulation changes to force a change to a new platform, MT5... that strategy is what has failed in this instance...
Summarize your answers I think that Meta Trader 4 will still target platform of many brokers and the clients for many years yet ...Have I right ?
Hi puncher!
That says it!
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If I am wrong please correct me. In my opinion the Meta Trader 5 platform was released according to new rules on forex market :
"
The new NFA regulations have arrived. For those of you who are trading with American brokers, here’s a basic list of things you should do, and more importantly, a short list of things you shouldn’t do.
The last hedge free forex trading week is over. When trading will resume on Monday, August 3rd 2009, the new NFA FIFO regulations will be in effect. I assume that most American traders aren’t aware of the new regulations, and will feel it by themselves when the software changes.
Basically, if you open more than one position on a currency pair, you must close the first before closing the second one. That’s the NFA’s not-so-straightforward way of preventing hedging.
"
so I think that Meta Trader 5 will not accept opened positions long, buy on same currency pair... Meta Trader 4 accepts it