London-Based ForexVox Moves 94% of Clients to MT5 amid Rising Competition

<p>ForexVox, a
London-based forex and contracts for difference (CFD) broker, has transitioned
nearly all its clients (94%) from MetaTrader 4 (MT4) to MetaTrader 5 (MT5).
The firm said the decision will help it “stay ahead of the market” and deliver
the best solutions to its traders even as competition in the
trading industry continues to intensify.</p><p>ForexVox Moves to MT5</p><p>According to the Financial Conduct Authority's company register, ForexVox has been operating since August 2020. The company was previously affiliated with Valutrades
Limited, the operator of the forex and CFD broker, Valutrades.</p><p>In an effort to boost its traders' experience, ForexVox since the summer of this year has been moving its clients to MT5. The trading platform is
pursuing the goal of
“providing unparalleled support to traders worldwide,” said Slava
Biletska, a Director and Shareholder at ForexVox, in a
statement published on the software company, MetaQuotes' website.</p><p>MT4 and MT5
are both online trading platforms developed by MetaQuotes. However, while MT4, which was introduced in 2005, has been optimized for
online forex trading, the <a href="https://www.financemagnates.com/forex/apples-metatrader-ban-whats-changed-in-cfds/" target="_blank" rel="follow">upgraded version of MT5</a>, which was released in 2010, offers
access to additional CFD markets: stocks, indices, commodities, futures,
energies, etc.</p><p>“Selecting
the right platform is pivotal for the company's future, especially in the
context of the rapidly evolving global financial sector,” Biletska explained. “We
meticulously weighed the platform's benefits and potential, and it became clear
that MetaTrader 5 is the platform for the future.”</p><p>MetaQuotes
Updates MT5, Launches Messaging App</p><p>Meanwhile,
MetaQuotes <a href="https://www.financemagnates.com/forex/metaquotes-mt5-beta-gets-ai-coding-assistant/" target="_blank" rel="follow">recently updated the
MT5 trading platform</a> through a beta design. The version came with new features such as an
artificial intelligence-powered coding assistant, the ability to book or cancel
orders, and enhanced support for Open Neural Network Exchange machine
learning models.</p><p>
Furthermore,
<a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a> reported that MetaQuotes, whose MT4/5 trading apps were <a href="https://www.financemagnates.com/forex/mt4-and-mt5-trading-apps-have-been-removed-from-apple-app-store/" target="_blank" rel="follow">delisted
from the Apple App Store</a> in September last year,
recently <a href="https://www.financemagnates.com/forex/metaquotes-is-back-on-the-app-store-but-with-a-messaging-app/" target="_blank" rel="follow">returned
to the digital store</a> with a messaging app that provides financial
news and analytical tips for traders.</p><p>Tiger launched HK stocks' auto-invest; Moneta has hired a new manager; <a href="https://www.financemagnates.com/forex/news-nuggets-26-july-tiger-launches-hk-stocks-auto-invest-moneta-hires-new-manager/" target="_blank" rel="follow">read today's news nuggets</a>.</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.