Given the removal of the fake “hedging” that was available on MT4, traders will argue now that the MT5 is made for scalping and arbitrage, having as argument also the introduction of trade events. “If we have trade events, it is to arb on divergences from no-arb relationships”. The brokers will find this argument extremely hard to chew, but we traders want to take advantage on latency and misquotes as well as the institutionals did in the past, and in a more institutional fashion, on level II markets. MT5 brokers prohibiting this type of trading should be now reported to their regulatory authorities, because the casino era of MT4 is gone, and nobody wants to be considered a gambler just because brokers are accustomed to prohibit arbitrage! Add to this the brand new multiasset backtester that is to come, and we’ll witness soon an important growth in the quality of EAs and trading in general, as the awareness regarding more advanced trading techniques will grow, making trading against clients a gradually worsening choice. Because if not only arbitrage, but pure alpha strategies will emerge, there is nothing the brokers can do to prevent large scale application of these by traders – not even by manipulating quotes…