As a downloadable product, MetaTrader 4 account holders are often limited by accessibility to trading when not connected to their main computers. MetaQuotes has created both iOS and Android mobile versions of the platform, but a browser-based web version has so far proven elusive. As a solution, brokers have either developed in-house or partnered with technology providers to create web-based trading platforms. Connecting directly to a broker’s MetaTrader server, the web trader allows traders to trade their MT4 account directly from any web browser without the need of downloading the trading platform.
Initially, web traders were focused on providing MT4 account holders with greater accessibility to trading, with features limited to order entry and basic technical analysis tools on charts. However, recent iterations of web traders released over the past two years have gone beyond just being additions to MT4 and have been launched as robust systems to operate as full trading platforms themselves. Some web traders have even gone ahead and become standalone platforms that are offered without needing to be connected to a MetaTrader server, such as Sirix from Leverate and xStation from X Open Hub, whose roots began as XTB’s web-based offering.
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Following on this trend, FxPro has released its newest web trader to customers. Previously using technology from Panda TS, according to FxPro, the new offering was developed in-house. Like other web traders the platform connects with MT4 accounts allowing for simultaneous trading using either system. In addition, FxPro is touting the platform’s standalone features, such as technical indicators and the ability to save charts and appearance themes.
For brokers, one of the advantages of a robust web trader is reduced friction when supporting new customers, as download incompatibilities such as those with anti-virus software (I am looking at you ESET) often top the list of user problems with MT4. In addition, in-house developed products can provide brokers greater integration with their data collection of customers in gaining a better understanding of their habits and what marketing campaigns are most successful to trigger trading activity.
In FxPro’s case, as one of the largest Cyprus-based brokers, as well as recently increasing its UK presence, the firm has connected as an IPO candidate of the future. As such, the creation of new in-house technology to go along with the broker’s existing SuperTrader copy trader platform provides additional intellectual property to market itself, if and when they do decide to pursue an IPO.