MetaQuotes outlined the genesis of its platform development, which is focused on its newer iteration, MetaTrader5 (MT5). The group’s past success with its existing product suite led by MT4, is slowly shifting into the company’s new prime product. Earlier this year, the company introduced hedging, which has been a game changing functionality for many traders.
The company has been facing a unique struggle, given the traction MetaTrader4 (MT4) currently has – the platform is largely the paramount choice amongst brokers. According to Anthony Papaevagorou, Head of Sales at MetaQuotes, in a recent presentation at the Finance Magnates London Summit: “MT5 was previously struggling to keep up with MT4 and our other offerings, our problem is that we are victims of our own success.”
We are victims of our own success
Royal C Bank on Why Crypto is Still the Name of the GameGo to article >>
Indeed, MT5 has thus far failed to achieve the same market penetration as its more dated counterpart, though this has not stopped MetaQuotes from doubling its efforts to push MT5 adoption. Whereas past sales growth was almost exclusively relegated to MT4 on a sustained basis, since July 2016, MT5 has constituted the vast majority of the company’s product growth, far outperforming MT4 for the first time.
Additionally, MetaQuotes fortified its stance on the MT5 platform, which it intends to focus on more extensively moving forward. “We do not expect to see any developments to come out of MT4 ever again. Given this, MT4 is slowly dying out,” Papaevagorou added.
We do not expect to see any developments to come out of MT4 ever again
Looking ahead, MetaQuotes also unveiled a composite of new updates to MT5 as it looks to ultimately phase out MT4.