XTB, a giant in the Polish foreign exchange (forex) market, announced this Thursday that it is no longer supporting the website version of its MetaTrader 4 platform and will be disabled over the weekend between the 30th and 31st of March.
From this time, clients of the broker will no longer have access to MetaTrader Web Real and Demo accounts. Instead, the Polish company will only support MetaQuotes’ electronic FX platform through the MetaTrader 4 trading system.
In the statement released today XTB outlines (translated): “The above change will not affect transaction accounts on MetaTrader, login and account management will be possible from the desktop version of MT4.”
XTB is currently directing its customers to download the platform from its website. It is not clear why XTB has abandoned the web version of the MetaTrader 4 platform as the company does not give any reasons in today’s statement.
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MetaTrader 4 Remains as FX Industry Standard
The move from the broker is also at odds with the increasing popularity of the MetaTrader platform. As Finance Magnates analyzed today, despite continual predictions that the FX trading platform would crumble, after 15 years it remains as the industry standard offering.
The announcement also follows on from the Polish broker publishing its financial results earlier this month, which achieved a solid final quarter as well as steady growth for the whole of 2018.
During the final quarter of 2018, the company on-boarded the highest number of new clients – 5,742. This brings the company’s total for the year to 20,672. As Finance Magnates highlighted previously, XTB’s metric stands out during a year when a slew of regulatory challenges has been making life difficult for retail brokers.
For the full year, XTB revenues increased by five percent to PLN 288.3 million ($75 million). Net profits also increased by almost nine percent year-on-year to reach PLN 124 million ($32 million).