More than 60% of Axi's customers now trade on MetaTrader 5, and the broker has started deploying Ultency, MetaQuotes' order-matching engine, the vendor said Wednesday in a case study on the broker.

The migration figure lands as Axi's platform consolidation enters a new phase: the move from MT4 to MetaQuotes' newer terminal coincides with an architectural decision on how the broker routes and matches order flow. Axi reports more than 1.4 million users across over 100 countries and $3.45 trillion in trading volume for fiscal 2025.

What does the MT5 migration mean for execution workflows?

Axi credits MT5 with finer control over administrative permissions and automation that cuts repetitive manual work, the case study said. The broker also uses MT5's access servers to place connectivity closer to clients in different regions — a latency and infrastructure consideration for desks serving dispersed retail flow.

The platform shift is industry-wide. MetaTrader 5 overtook MT4 across the market last year, handling 62% of combined MT4 and MT5 CFD volumes in the third quarter of 2025, according to FM Intelligence data. A year earlier, MT4 had carried roughly two-thirds of volumes. The crossover forces brokers to reassess bridge deployments, plugins and internal tooling built around the older terminal.

How does Ultency fit into Axi's stack?

MetaQuotes positions Ultency as a substitute for third-party liquidity bridges. It switched the engine to volume-based pricing in December 2025, charging $1 per $1 million traded, with discounts at higher volumes. The pitch targets MT5 brokers that route orders through outside bridges, which MetaQuotes said typically cost $1,500 to $7,000 a month plus infrastructure.

Axi said the Ultency rollout is at an early stage and that it has seen initial improvements in platform performance and execution quality, according to MetaQuotes. Those claims come from the vendor's own case study rather than independent measurement — no execution statistics were published alongside them.

Owais Anwer, Axi's global head of technology operations, said the broker needs "technology that can scale without creating unnecessary operational complexity."

Does Ultency replace Your Bourse?

The deployment raises an unanswered architectural question. In May 2025, Axi added a matching engine, liquidity aggregation and risk tools from Your Bourse to support its institutional business. Two months later, it relaunched AxiPrime, an institutional liquidity service for professional trading firms built on that Your Bourse technology; the launch announcement credited the service with handling up to 500,000 order events per second.

It is unclear whether Ultency replaces that setup or runs alongside it. Neither Axi nor MetaQuotes clarified the relationship in the case study. For brokers watching from the sidelines, the answer matters: running two aggregation and matching layers carries cost and complexity that the Ultency pitch explicitly promises to eliminate.

Who else has signed on to Ultency?

Most of the engine's announced users to date have been liquidity providers connecting their prices to it, rather than brokers routing orders through it. LMAX, GMG Prime and Scope Prime signed up in early 2026, and Vantage followed in April. MetaQuotes says the engine now links brokers to more than 30 providers.

Axi, then, is among the first brokers disclosed as deploying the engine on the client-facing side — a distinction worth separating from the vendor's provider-count headline.

What is the competitive pressure on bridge vendors?

Independent vendors — oneZero, PrimeXM and Centroid — sell the same aggregation and routing layer that Ultency now targets. Industry executives warned in April of a "race to zero" in bridge pricing after MetaQuotes entered the market with volume-based fees undercutting fixed monthly contracts.

For brokers, the competitive dynamics cut both ways. A first-party engine from the platform vendor tightens integration and removes a third-party dependency, but it also concentrates more of the execution stack with a single supplier. Bridge vendors, facing a vendor-backed rival, may respond with pricing or functionality concessions of their own.

Axi's next disclosed milestone — whether Ultency absorbs the Your Bourse layer or coexists with it — will signal how far MetaQuotes intends to push into the routing infrastructure that independent vendors have owned for the past decade.