MetaQuotes’ recent aggressive policy of using their MT4 leverage in order to push brokers to abandon established autotrading platforms in favor of their own signals solution may in reality be a blessing in disguise for the Forex industry. Their actions are about to bring a long-needed change from a closed ecosystem to a more open trading environment.
As is typical to a monopolistic player, Metatrader is trying to control both the trading and signals markets and exercise a suffocating level of pressure on brokers. The first results are already visible: New platforms and established players with open philosophy are gaining significant traction and see their market share increasing. Additionally, reputable brokers that have their own proprietary trading platforms are not affected and enjoy unique flexibility in their actions, a critical advantage that MT4 dependent brokers do not share.
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And I pose the million dollar question: what is the value of a broker that has a proprietary platform vs a broker with MT4 only? The MT4 broker with no ability to connect via an API, just inherited a new competitor: MetaQuotes! Now competing with brokers, when is trying to mess with broker partners. What is the value of a broker with MT4, when all the future business model could be REJECTED by METAQUOTES?
Our info shows that MetaQuotes is blocking over a 100 companies with social services. Anyone with a website with customers with a cloud EA service? Now it’s blocked. Can you believe that? Metatrader doesn’t help the industry to evolve. In every industry new services are popping up and are upgrading the experience. MetaQuotes will block those companies, because they see it as competition.
Our calculations indicate that ZuluTrade plus all social services have introduced over $1 billion in new deposits to brokers. All new deposits will now shift to non MT4 brokers. The social industry is growing every year and MetaQuotes is not going to be a part of it.