MetaTrader 5 is not as popular as MT4, but it is still a very capable advanced trading platform, and very popular among retail Forex traders. It is also popular in Japan because of how many advanced features it offers, including indicators, chart analysis tools, drawing tools, various chart types, a multitude of order types, and so on. The platform also is capable when it comes to customization, which means traders can adjust everything to their preferences, including the interface and features. Let’s analyze why MT5 has become so popular among Japanese FX traders and list its key features and advantages.
The rise of MT5’s popularity in Japan is not a coincidence, as the country is a major Forex trading hub. The Tokyo trading session is critical in global Forex markets, and Asian traders are most active during these hours. Of the bunch of brokers in Asia and Japan, few are regulated as strictly as Axiory. A Forex broker that offers both educational resources and low spreads, which is critical in FX trading. Axiory MT5 is a free trading platform and the broker also offers many tools to support its traders, to build a large trader base that is consistently profitable and allows the broker to stay in business in the long run. Here are the reasons why MT5 became so popular in Japan:
The platform is perfect for Japanese regulations as it is reliable and secure. It is updated constantly and very often, eliminating bugs and security threats. The platform is compatible with all brokers who are operating in Japan.
Several features make MT5 super attractive for retail FX traders in Japan.
MT5 supports multiple asset classes, which allows traders to diversify their portfolios effectively, including Japanese traders and investors.
This is the strongest side of both MT4 and MT5, as they support custom indicators and come with a plethora of built-in technical indicators. These indicators are very well-ordered and traders can quickly deploy them and use them for analysis.
Automated trading robots are supported by MT5, and they are called Expert Advisors or EAs. EAs can be used to both automate trading processes and get notifications and alerts. The platform supports the MQL5 programming language, which was developed to write trading robots, scripts, utilities, and indicators.
DOM is especially useful for Japanese traders who love to analyze market liquidity and plan trades based on real-time order book data. This is important during Asian sessions as it is not as liquid as NY and London sessions and getting this information in time might become critical.
One of the strongest sides of MT5 is its support for multiple languages, including Japanese, allowing local traders to understand every feature without the need to translate or know other languages.
MT5 supports not only custom indicators and scripts but also full interface customization. This allows traders to adjust every feature and button to their liking. Japanese traders love to adapt their environment to their needs, and MT5 enables superior customization when compared to many other platforms. Another reason for MT5’s popularity is its support for advanced automated trading systems. Traders can hire developers or buy EAs online. There are also thousands of free EAs online and deploy them right away. MT5 has a built-in MetaEditor which is an IDE and enables traders to develop their own indicators and EAs.
Another important benefit of MT5 is its built-in strategy tester, which allows it to quickly back-test any trading EAs on historical data without the need for third-party apps or APIs. This is because MT5 has its own price data providers and even if a trader registers on the official website, they can get real-time prices using a demo account. All financial brokers also offer free demo accounts and traders can test their strategies and robots without limitations, which is a huge advantage.
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