A leading publisher portal that allows users to upload up to date trading statements, history and account summaries has announced that 3 additional platforms have been added to its service. The integration means MT4i is available on a total of six popular trading platforms for FX and CFD trading. The firm also gave notice of their intention to alter their name which is in line with their amended business model.
The firm has integrated with both established and new trading terminals as the world of platform monopoly is believed to be taking a new path. The platforms include:
MT4i have seen a significant number of new users requesting their services recently. Volatility has been a key driver of trading volumes and interest among traders in the FX markets. A spokesperson for MT4i said to Forex Magnates: “The number of real-money accounts publishing to the website has risen about 20% in the last 3 months, which is partly going to be a reflection of the rise in trading volumes which almost everyone is seeing.”
John Morris, Business Development Partner at MT4i comments in a statement: “Our partnerships with cTrader, xOpenHub and Vertex FX represent a great opportunity for MT4i to work with market innovators, to progress our strategy of addressing new markets, and to be able to offer web publishing and trade-analysis facilities to an increased range of FX traders. We are also working closely with our new partners to integrate MT4i’s well-established suite of trading tools, in 12 languages, which brokers have been providing to traders world-wide since 2010, and we look forward to announcing the release of these new developments, along with white-label publishing solutions for brokers, in the near future.”
Mr Morris added: “In order to reflect the new direction indicated by this and previous announcements, MT4i expects to announce a change of name in the near future.”
Alexander Chauzov of cTrader said in a statement: “We are delighted to be partnering with MT4i, one of the most respected providers of free web publishing and analysis facilities to FX traders worldwide, and of multilingual, value-added software solutions to brokers that help them to attract, convert and retain clients. Working with MT4i will help to extend the reach and appeal of the cTrader platform to both brokers and retail traders.”
Malgorzata Kozak, Head of xStore.pro – app store where MT4i solutions will be available, said: “Being able to offer free web publishing and analysis facilities to retail users of all brokers within xOpenHub will help to extend the popularity and market reach of our open environment as will the subsequent integration of the multi-lingual MT4i broker services tools. We are delighted to be partnering with MT4i.”
Yousef Ibrahim of Vertex FX said in the press briefing: “The fact that MT4i offers web publishing and analysis solutions to retail traders world-wide makes them uniquely placed to build market informed trading solutions for brokers as well. We welcome the opportunity to work with MT4i in both of these areas which will help to improve the popularity of the Vertex platform.”
MT4i provides a wide range of analytics and reporting tools for users, their clients include brokerages and traders. In addition to reporting services, MT4i was one of the first software houses that aesthetically and functionally enhanced one of the worlds most popular platforms, features included; trading from charts, 1 click execution, 1-click trading/ risk management and integrated web services in the platform window.
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MT4i’s impressive enhancements were first taken up by US-based Interbank FX, this was later followed by a range of brokers notably; GFT & Gain Capital.
A few months back, MT4i’s future was questioned like several firms whose business model was in and around the popular MT4 platform, on discussions with partners at MT4i about their future Forex Magnates was told;”you will be informed in due course”.
The uptake of three platforms is a blessing in disguise for MT4i as it will be the main reporting portal covering such a vast range of platforms. From the trio, Vertex FX is by far the most popular with an established presence in the Middle East and Asia, in Asia Pakistan is its main market where several brokers have white label’s of the terminal.
Piyush Parekh CEO of VIBHS, a Dubai based broker offering the Vertex platform commented to Forex Magnates: “The hare VS turtle race between trading platforms seems to be coming to an end, 60% of our clients trade on Vertex and this new initiative is welcomed by us and our clients.”
FX trading is thought to have hit maturity in the developed world among retail investors searching for profitable investment products. Copy trading is a recent phenomena that aims to bridge the gap for several unsuccessful traders giving them opportunities to re-enter the market by following successful traders with the freedom and control of maintaining their accounts.
Up and coming fund managers are grateful to services offered by portals such as MT4i as they provide clear and transparent findings for investors. “We would regularly be accused of only showing positive statements by investors,” said Saurav Jalan a Mumbai based fund manager said to Forex Magnates. “Now it’s all available from A to Z, what you see is what you get,” he added.
Algorithmic and automated trading are definite strong growth areas as traders are evolving their behaviour with the use of technology and accessibility to automated strategies, however apart from this segment of the market MT4i has been seeing traditional self traders also using its services. Mr Morris explains: “We are perhaps seeing more interest in education, self-directed trading, and trade assistance than other people, and less emphasis on pure algo and passive trade-copying. We are well placed to benefit from developments in all of these areas.
These new developments are very positive for MT4i and we expect to make further announcements in the coming weeks and months.”