Fortex to Power Axiory’s MT4 Webtrader

Axiory to deploy the MT4 webtrader powered by Fortex, aimed towards providing traders with an enhanced version of the web-based
Photo: Source: Fortex

California-based financial technology developer Fortex Inc. – with six offices across three continents and catering to a wide range of brokerages offering forex, CFD, and commodities – has announced a partnership to provide its web-based MetaTrader4 (MT4) Webtrader to Axiory – an online multi-asset brokerage operating globally under its company brand structure.

The partnership enables Axiory to provide its clients with the MT4 webtrader powered by Fortex and with additional features that Fortex highlights through its customized solution of the product in HTML5, including syncing in real-time across mobile and web via their cloud hosted servers, offered in multiple languages to traders.

The Axiory brand is operated under two regulated entities including R Capital Solutions Ltd. for its CySEC regulated EU-focused offering, and Axiory Global Ltd regulated with the IFSC for non-European business, according to the announcement.

MT4 Webtrader pricing

The configuration of the MT4 webtrader from Fortex, as well as its pricing structure, seems to be the unique selling points that helped made the deal happen and for Axiory to choose Fortex as the solution provider.

Fortex is pleased to be selected by Axiory as its Web Platform provider

With regard to pricing and commercial terms, as an example, rather than pay a monthly flat fee, the costs are based on processed volume according to Fortex’s website, and therefore, can be measured directly against actual usage of the MT4 webtrader platform.  

While the commercial details of the announcement with Axiory weren’t referenced in the announcement, this pricing mechanism- such at the one Fortex lists – can be appealing for brokers who either don’t want to add another product that may take a while to obtain usage from clients, or who have already invested considerably in a half a dozen or more existing platforms, among other considerations.

For example, at the iFX expo in Hong Kong last month, there were other providers offering the MT4 web platform but requiring an upfront cost of anywhere from $3000 – $5000 as well as the need for the broker to run Windows 2012 servers and other hardware and IT needs, whereas going directly to the MetaQuotes for the product bypassed the need for the servers for the same cost (two very different offerings for the same end result).

On the other end of the customized platform spectrum, some providers offer a flash-based MT4 web, compared with an HTML5 based web interface – such as that offered by Fortex. There are many areas to consider when comparing offers for MT4 web as the product and methods of approach varies.

In the company’s press release, Fortex’s Global Head of Sales, Natallia Hunik, said: “Fortex is pleased to be selected by Axiory as its Web Platform provider.” She added in the press release: “Based on new HTML5 technology, Fortex MT4 Webtrader delivers outstanding performance and will offer a highly scalable solution to Axiory’s growing customer base.”

Configuration matters

According to Axiory, Fortex’s webtrader received positive recommendations from partners and integrates well with Axiory’s retail-focused client offering, in response to questions regarding some of the key drivers in choosing them for this project.

Differences in configuration from the integration side also change how the end product will function for clients, therefore, the configuration on the back-end is important to consider not just for back-office administrative needs but also how it will affect the UI/UX interface. Therefore, the needs of the brokers and its clients are paramount when choosing a provider to customize the offering as MT4 Web continues to evolve.

 Of the various approaches companies use to package up and offer MT4 web – such as from the developers API – whether customized or as a Software as a Service (SaaS) turn-key solution, these need to be examined along with the commercial terms – whether it is to align interests (think partnership) or in some cases limit them (i.e. flat fee model or fixed costs).

Source: Fortex
Source: Fortex

MT4 web landscape: evolving

MT4 desktop and mobile versions already account for a significant market share of retail volumes – such as volume data available in Finance Magnates quarterly industry reports (QIR)– while the web-based version of the MT4 platform is trying to gain traction from its initial launch.

MT4 Web, on its own, from the developer, is a very light application, and not loaded with many features such as the ability to run EAs, and costs nearly $3000 per month as a flat fee, for example, adding to the lack of customer adoption. Therefore, as more providers re-package the MT4 web solution to better meet brokers and clients needs, and as the developer improves the product as well, the landscape for MT4 web continues to shift.

It’s fair to say that almost no web-based trading platforms are as robust as their desktop counterparts, except in some cases where the platform is entirely web-based and no desktop equivalent exists. For the MT4 web version, the product continues to morph, and just today Metaquotes announced a list of new indicators added to the web-based version of MT4, as reported by Finance Magnates earlier.

For MT4, traders have come to rely on the full functionality of the desktop version, and the on-the-go ease of the mobile app for both Android and iOS environments picked up usage, and finally with the appearance of MT4 web – it continues to be refined in order to become more useful to traders.

source:  istock
source: istock
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