Brokers Are Leaving MetaTrader Behind When Integrating TradingView: Here's Why

MetaQuotes, the developer of the two MetaTrader platforms, is restricting brokers from integrating TradingView with the support of MT4 and MT5 on the backend. The company has restricted multiple brokers from using MetaTrader with TradingView, Finance Magnates has learned from several industry sources.

Third-Party Integration Is Forbidden

The technology giant has crafted the clauses in MetaTrader platforms' usage terms and conditions to restrict brokers from integrating with other third-party platforms, Finance Magnates verified. The terms do not specifically mention TradingView but cover all non-MetaTrader trading environments.

One of the brokers cited its contract with MetaQuotes and told Finance Magnates that “any trading apps that do not rely on MetaQuotes’ API cannot be connected to MetaTrader. Such third-party connections would be a violation of the contract.”

Although it is unclear when exactly MetaQuotes began to expedite the enforcement of the restrictions, industry insiders estimate that it started sometime last year.

“We do not think there is a reason to implement any restrictive measure from either side,” Rauan Khassan, TradingView’s Vice President of International Growth, told Finance Magnates. “At TradingView, we are open to working across asset classes, brokerages, and platforms.”

Technically, TradingView integration using MetaTrader is still indirectly possible with the support of another third-party technology stack between the two platforms. However, one such platform confirmed to Finance Magnates that it always asks brokers to seek approval from MetaQuotes first, before proceeding with any such indirect integration.

“There are a few dozen brokers supporting TradingView alongside MetaTrader. We are not aware of any integration connected to its solution, though,” Khassan added.

A Platform with Over 90 Million Users

Unlike other popular trading platforms, TradingView acts more like a front-end platform. Known for its charting tools, the platform allows traders with integrated brokers to execute trades directly from the charting environment but requires the support of another trading platform on the backend.

As a broker explained, “The TradingView platform is technically a chart + ‘send order’ function; everything else is handled by the broker, whether through their proprietary platforms or third-party platforms.”

However, TradingView’s popularity in the trading industry is another factor behind brokers’ willingness to integrate their services. At the time of writing, 83 brokers and other trading platforms, including stocks and CFD brokers, and cryptocurrency exchanges, are integrated with TradingView. According to TradingView, it has over 90 million users, who are traders and investors, while SimilarWeb estimated the total visits to the platform to be 218.2 million in November.

As traders and investors are already on the platform, using its charting tools, it is very logical for brokers to offer trade execution directly from their platform to their clients.

One broker also highlighted that TradingView integrations would bring the best value for brokers. However, it was forced to scrap such plans due to its agreement with MetaQuotes.

MetaTrader is also a dominant player in CFD trading. Its legacy platform, MT4, has dominated the industry for about two decades, but the company is now pushing to adopt its newer MT5 platform. As Finance Magnates Intelligence forecasted, trading volumes on MT5 will soon surpass those on MT4.

The limitations imposed by MetaQuotes for using MetaTrader with other platforms show that the tech giant is hesitant to make traders accustomed to other front-ends.

“MetaQuotes does not want traders getting used to any other front ends,” explained Jon Light, Head of OTC Platform at Devexperts, the software developer behind DXtrade. A brokerage representative also pointed out that “TradingView is versatile and is the only platform that can challenge MetaTrader’s dominance.”

Meanwhile, MetaQuotes has also decided to increase the licensing fees for MT4 and MT5 starting next month. Although the company did not provide details, an industry insider estimated the increase to be at least 20 per cent.

Trading Platforms See Value in TradingView Integration

While MetaQuotes is hesitant to integrate its platforms with TradingView, other third-party trading platforms see the benefits of such integration.

“We’ve already seen that this approach brings net positive added value,” TradingView’s Khassan added. “We do not distribute the same audience between an increasing partner list but rather actively increase the total participating audience volume and number.”

Finance Magnates reached out to MetaQuotes but received no reply.