Review of MQL5 Coupons

Not so long ago, MetaQuotes introduced a new feature which is called MQL5 coupons. Every day it becomes more popular among traders and brokers. Today I’m going to do a small research and tell you about them in details.

What is MQL5?

At first, MQL5 is a programming language designed especially for the automation of trading. Many things that can ease the trader’s work are written in this language (for example, trading robots or scripts).

Since its beginning, MQL5 has grown from just a programming language to a big pool of services. It includes EAs, scripts, indicators, VPS servers, trading signals (copy trading).

MetaQuotes improves it and expands the range of the available services regularly. So, they have recently introduced a new feature called coupons. I got interested in what it looks like and made a mini-research for you.

What is the purpose of MQL5 coupons?

This service was introduced on the iFX EXPO Asia, March 2017. The purpose of the coupons is supporting traders who want to use services or applications for the MT platforms by their broker. It is done for encouraging and motivating active traders, as well as advertising and extending MetaQuotes services around new clients.

What can you do with the coupons?

Only brokers can provide coupons to the traders and there is no possibility to get them directly from MetaQuotes at the moment. Every coupon means a certain amount of bonus money which a trader can use for different MQL5 services depending on the type of coupon.

Types of MQL5 coupons:

1. Market coupons are used for the purchase of any product from MetaTrader Market (e.g. robots, expert advisors, technical indicators).
2. Signal coupons are used for subscription to MQL5 trading signals.
3. Hosting coupons are used for paying the VPS service commissions (Virtual Hosting for MetaTrader 4 and MetaTrader 5).
4. Money coupons are used for depositing MQL5 account and further paying for any service you want.

How does it work?

A broker generates a coupon and gives it to a trader with all necessary instructions. Traders receive coupons as individually generated codes that should be inserted into a payment form. After that, you can pay for some MQL5 services noted above or send this money to your MQL5 account.

Hello! My name is Mohammad Hafiz. And recently I became a blogger