As MetaQuotes has bulked up features of its MetaTrader 4 and 5 offering to include trading signals, mobile platforms, one-click trading and a developer marketplace accessible from the platform, one notable exception has been a webtrader. However, the wait for a MetaQuotes version will be ending shortly as the company will soon begin to offer such a product.
According to sources, the firm has begun to market the coming product to its broker clients, with a Q3 launch date planned. In addition, MetaQuotes is working on customer management solutions to assist brokers. Overall, feedback from brokers about the launch has been that a webtrader makes sense for MetaQuotes to offer, but, what has taken them so long?
When contacted by Finance Magnates, a representative from MetaQuotes was unable to provide comment, citing the firm’s current stance of not speaking to the media prior to a product’s launch, but company sources confirmed its coming launch. The addition of a webtrader in their suite of solutions for brokers does fit a pattern of previous offerings made available by MetaQuotes.
In the past, MetaQuotes acted to protect the brand recognition of its MetaTrader platform. As such, they have been at odds with third party firms that created plugins to alter the appearance of the MetaTrader 4 platform or connected autotrading features they believed impeded on software licenses. In replace of, MetaQuotes created its own solutions that were similar to those offered by third party firms, including one-click trading and signals.
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Like its launch of mobile apps for Android and iOS users that connect trader MT4 accounts, the addition of a webtrader will allow MetaQuotes to have better control of its platform branding. Without such a product currently available, several technology providers and brokers have created their own webtrader platforms to allow customers to access their accounts without requiring the downloadable MT4 system. As such, a solution directly from MetaQuotes should allow them to quickly capture webtrader market share.
One question is what will the impact of a MetaQuotes webtrader be on competing products? In addition, with binary options plugins also popping up on the market to provide binary options trading directly on MT4, is this another item that MetaQuotes will look to launch?
Will binary options be the next feature available on MT4/5 from MetaQuotes?
In regards to the impact on competing products, Finance Magnates believes that the short-term impact will be minimal, as brokers currently licensing webtraders from third party technology providers may wait until they gain more feedback about the new product. In addition, webtraders that also contain premium features such as social trading or algorithmic trading, offer tools that most likely won’t be available from MetaQuotes.
However, like the MT4 mobile apps which have gained traction from brokers due to its low cost, the webtrader should also appeal to brokers that just want a simple web-based solution to offer their clients. In addition, brokers with a large customer base using EAs and customized indicators on the downloadable platform, and don’t have strong client demand for a web-based offering may elect to use the MetaQuotes branded offering as a no frills solution. As such, over the longer term, the emergence of a webtrader from MetaQuotes becomes a notable competitor to technology providers in the industry.