As a provider of MetaTrader tools for both brokers and traders, MT4i became the target of MetaQuotes who claimed that some of the firm’s offering had infringed on the MT4 platforms licensing rules. This led to a warning from MetaQuotes that was issued to brokers to cease using MT4i’s MetaTrader interface upgrade plugin. Although a popular product of traders, as it offered features that were unavailable to MetaTrader (this has since changes as MetaQuotes has upgraded parts of the MT4 platform), major brokers began to remove the MT4i plugins. Since that time there has been curiosity in the markets what the third-party technology provider’s next step would be.
Following the issues with MetaQuotes, Forex Magnates reached out to John Morris, Business Development Partner at MT4i to learn what their next steps would be. He answered that they had some non-MT4 projects in the works and would be making announcements during the year. The first of these announcements occurs today, as MT4i has partnered with APP trading platform Tradable. According to the joint statement, MT4i has developed a version of its well-established suite of trading tools which brokers have been providing to traders, that will be available on the Tradable platform and offered in 12 languages (below is an exclusive first look at the new product, showing its multi-language capabilities).
In addition, it was announced that Tradable is launching a B2B ‘Certified App Developer Program’, which was stated to be “designed to offer brokers and service providers access to best-of-breed app developers for its trading platform.” While having its app store in place for developers to reach end-user traders with their products, this marks Tradable’s first involvement with B2B partners. For MT4i, they will have the chance to create broker specific apps for the platform.
Due to the recent friction among MetaQuotes and third party providers creating offerings for the MT4 platform, Forex Magnates has raised on several occasions that a Certified App Developer Program for MT4’s ecosystem made sense, and would provide more clarity for developers. Therefore, as Tradable has ‘jumped the gun’ with this initiative, as well as Spotware Systems opening up its cTrader platform to developers, it could drive more existing MT4 providers to offer products for rival systems. In talks with providers, Forex Magnates has already learned that several larger firms are already developing more platform-neutral products to diversity their offerings. As such, the more open non-MT4 platforms become, it will decrease barriers, and will lead to more third party providers also targeting multiple platforms.
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The timing of today’s news is ironic as this week there has been chatter among traders in different forums about connection issues between MT4 and external tools and services. While nothing has been substantiated, it has led to speculation that additional MetaQuotes/3rd party provider friction is taking place now.
Moving back to today’s news in the prepared statement, Jannick Malling, CEO of tradable commented, “MT4i is one of the most respected B2B developers in the FX space with a well-established track record of providing multi-lingual, value-added software solutions to brokers world-wide, helping them to attract, convert and retain clients. The fact that MT4i also offers web publishing and analysis solutions to retail traders world-wide makes them uniquely placed to build market informed trading solutions for brokers. This partnership and initiative reflects tradable’s aim of introducing brokers to the best possible app providers and we couldn’t have asked for a better partner to launch our Certified App Developer Program with”.
John Morris, also added in the press release that “our partnership with tradable is a great opportunity for MT4i to work with a key market innovator, progress our strategy of addressing new markets, and be able to offer existing and new broker clients a bespoke range of products to help them differentiate their market offerings and address the needs of their traders. We are therefore delighted to be the inaugural B2B developer in tradable’s Certified App Developer Program. This is a great partnership for both MT4i and tradable and for their clients.”