What if the new MT5 comes along?

[ilearn2t]

What can we expect if or when the new MetaTrader 5 comes along?

Some quotes to think about.

MT5 has a new integrated development environment called MQL5 which includes MetaEditor 5, MetaTrader 5 Strategy Tester and MetaQuotes Language 5 (MQL5). Unfortunately the MQL4 and MQL5 languages are not compatible. This means that every custom indicator and EA must be rewritten to work with Metatrader 5. It is not clear yet if there will be a tool which converts the MQL4 source code to MQL5 or allows MQL4 executables to run in MT5.

If this 2nd quote can be believed, (read the bold type below)
does this mean FXOpen will forgo this software?
or are we looking at a 3rd platform based account?

The order management system has completely changed in Metatrader 5. Now an order is a request to execute a trade operation, the result of which can be a trade. A position is the total state of trades on a certain financial security. Any financial security can have only one position. Unlimited orders are possible but with only one resulting position per pair. This means that there won't be possible to hedge orders anymore. According to Metaquotes, this change in the trading system was made to make MetaTrader 5 compatible with other markets, where such system is a standard. Now MetaTrader 5 allows working on the much wider range of markets, than MetaTrader 4. And that was a reason to rewrite the trading system totally.

So MT5 will take away the hedge ability by offsetting long and short trades into one position (NFA ruling compliance*). If this is case, it is very bad news to many traders who use hedging as part of their trading strategy. Moving accounts from US to UK or other countries which still allow hedging will be pointless once brokers start switching to the Metatrader 5 platform.

NFA ruling thread can be found here. http://forum.fxopen.com/showthread.php?p=440820 best to read about how the NFA ruling doesn't effect FXOpen under MT4 conditions.

[FXOpen Manager]

Originally Posted by ilearn2t

What can we expect if or when the new MetaTrader 5 comes along?

Some quotes to think about.



If this 2nd quote can be believed, (read the bold type below)
does this mean FXOpen will forgo this software?
or are we looking at a 3rd platform based account?



NFA ruling thread can be found here. http://forum.fxopen.com/showthread.php?p=440820 best to read about how the NFA ruling doesn't effect FXOpen under MT4 conditions.

We are not planing to change MT4 in the nearest future. Lets wait and see what MT5 will look like first.

[DollarBull]

Originally Posted by ilearn2t

What can we expect if or when the new MetaTrader 5 comes along?
...

NFA ruling thread .

I do not think MQL5 will be fundamentally different from MQL4 such that the downward compatibility will be lost. A few functions may not work correctly because of new NFA rules to implement FIFO, but beyond that it is unlikely to be a whole lot different. Way too much work has gone into metatrader server and client packages in these years and a single NFA rule won't make them useless. What could make them useless would be the recent attempts by Geithner et al to regulate the entire derivative market. That could shut down most US brokerages and drive everyone out of US. It is the government that is the problem in US, not the free market or businesses. Government keeps usurping more and more power to exert control on the markets. Someday the market will retaliate by moving out of US entirely.

[RebateFX.com]

When MT5 comes out, FXOpen will still offer MT4 support side by side with MT5. You can choose which software you want to use without restriction when the time comes.

[meng1005]

Hope MT5 system run fast

[Totom]

as metaquotes claim, mt5 will faster than mt4, but we will see what fxopen do in the future, if fxopen totally migration to mt5, so we will learn how to use mt5 include mql5 see at http://forum.mql4.com/11730 for mql5 explanation.

[FXGeorgia]

It's interesting when can we expect first releases of mt5. at least test versions. I along with every trader I think would be very satisfied to see trailing stop executed on the server side

Bad if the order hedging feature will be disabled.

[FXOpen Manager]

Originally Posted by Totom

as metaquotes claim, mt5 will faster than mt4, but we will see what fxopen do in the future, if fxopen totally migration to mt5, so we will learn how to use mt5 include mql5 see at http://forum.mql4.com/11730 for mql5 explanation.

There will be both Platforms available at the same time, no need to worrie

[Totom]

Originally Posted by FXOpen Manager

There will be both Platforms available at the same time, no need to worrie

Thank you manager i understood fxopen will try to give the best service to its client but i still need to learn mql5 to code my friend's (i do not know how to say "my customer" in better way) EA. So i will use both of fxopen platform.

[AndrewL]

Originally Posted by meng1005

Hope MT5 system run fast

agree..
we all hope so..

[Totom]

click here to read new article about Metatrader 5 & MQL 5

[Totom]

analytics in metatrader 5 read it here.

[1926411]

Too many to change

[seun_64]

i see no change in that, it is just like a normal upgrade of system.. (XP to Vista), here MT4 to MT5. The baseline will still be placing of orders and making profits.. lol

Bye for now

[ForexPrince]

MT5 is already available to download. I looked to changes from MQl and the good thing is that there are not so much changes.

MT4 EAs and indicators can be adjusted quickly to run on MT5.

Just my 2 cents