The software developer of the widely used MetaTrader4 (MT4) trading platform, MetaQuotes Software Corporation, has today announced the addition of 30 new indicators to the web-based version of the platform, including 14 newly supported languages, in an effort to enhance this newly evolving product.
The additional languages added to the web-platform include Croation, Czech, Dutch, Estonian, Finnish, Greek, Hebrew, Italian, Latvian, Lithuanian, Romanian, Serbian, Slovenian, and Swedish. The developer also said Ukranian, Uzbek, and Hindi had been translated as covered by FinanceMagnates earlier this month.
While the MT4 desktop version and mobile app of the platform are widely used, the web-based MT4 arrived later and is still trying to gain traction as it evolves, aiming to be in higher demand by traders.
MT4 Web getting refined
The update brings the total number of languages to 38, and the number of indicators matches that of the native desktop version. According to a press release from the developer, some of the added indicators included various MAs, MACD, ATRs, several oscillators, envelopes, Bollinger Bands, CCI, Momentum and Volume related indicators, Alligator and Gator indicators, RSIs, Stochastic oscillator, Ichimoku and Williams percentage, among others.
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Despite the appeal of a web-based solution that can be accessed from almost any web-enabled browser, one of the drawbacks of MT4 web remains the inability for traders to run EAs directly from the interface. This could be changing soon, as providers are aiming cloud-based or broker-hosted servers that could link to a client’s uploaded EA, and as is already used for VPN hosting with the desktop version (so that EAs can run even when a trader logs off of their computer). Nonetheless, as a late comer to the MetaTrader product suite, the web version is making strides to catch up.
Setup and deployment options vary
Finance Magnates met with several providers that offer related services surrounding the integration, configuration, and maintenance of the MT4 web platform, during the iFX Expo in Hong Kong last month. Such providers, whether bridge-providers or other IT tech company that support brokers, offer different solutions for brokers that wish to offer MT4 Web.
In addition, our reporters had a chance to speak with representatives from the developer as well, as MetaQuotes had exhibited at the event and also offers the platform directly to brokers for a fee. As the platform continues to evolve, a number of approaches are also evolving with regard to the different ways a broker can set up the offering from various providers, include related commercial terms, and which will be covered in more detail in related posts.
From across the spectrum of ISPs, with bridge-providers and other IT tech companies that support brokers with solutions related to offering MT4 Web, the landscape is becoming wider with more options for brokers to choose from.