Clients of DMM FX Australia have gained the ability to trade through the online web version of the MetaTrader 4 platform just one day after another Australian broker, IC Markets, announced its support for same product.
Assuming that there is demand amongst clients, there is little logic for existing MetaTrader brokers that are already paying the license fee for the desktop and mobile versions of the platform not to support the web version too.
Prospective customers who might need access to such a version are those who need to access their trading account from multiple locations (i.e. from home and work) and the users of alternative operating systems to Apple’s MacOS X, or Linux.
What Lies Ahead for a British Fintech Industry Outside the EUGo to article >>
Trader behavior and the wide availability of mobile devices have shifted somewhat the needs of the average retail user. With a number of brokers reporting that close to 50 per cent of their volumes flow through mobile devices nowadays, the necessity of the web trader version is certainly lower than it was couple of years ago, however the presence of the solution removes any barriers that might otherwise have been present for onboarding a new client.
Since its launch, the MetaQuotes WebTrader has been actively gaining traction, with brokers preferring to deliver an integrated solution for their traders. At the same time a number of providers of web trader platforms have been facing a growing challenge from the developers of MT4.
While the solution does not support the full functionality of the desktop platform, it is enough for traders to be able to keep track of their accounts. Ultimately it is definitely a plus for brokers to be able to provide a native solution for multiple desktop operating systems.