Metaquotes Will No Longer Sell its MT4 Trading Platform
- The popular FX and CFD trading platform will be gradually replaced by the updated MT5 platform.
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MT4 has been a staple of FX brokerages and traders for more than a decade. Since its launch 12 years ago, the trading platform grew in popularity, as its user interface and functionality were highly touted by traders. A lot of brokerages offer the trading platform, and it has come to be perceived as the default option. Its Scalability Scalability Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain points in transaction processing, relative to other cryptos or traditional payments options. Inherent Scalability Issues with BitcoinBitcoin’s block size limit represents a true bottleneck in its design. This reflects the potential downside of a Proof-of-Work (PoW) system with Bitcoin's consensus protocol.Lags in transaction processing capacity can result in increasing transaction fees and delayed processing of transactions that cannot be fit into a block.This is perhaps one of Bitcoin’s most pressing issues long term, an issue that has since head to the creation of other altcoins or networks to remedy this concern.There have also been many attempts to solve Bitcoin’s scalability problem through software upgrades.Increasing the network's transaction processing limit requires making changes to the technical workings of bitcoin. This is where forks in the network can come into play, be it soft or hard forks.However, forks have resulted in the creation of entirely new cryptocurrency networks such as Bitcoin Cash, among others. Technical optimizations have also been floated to decrease the amount of computing resources required to process and record Bitcoin transactions. Presently there is no consensus on what the best solution to Bitcoin’s scalability is. Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain points in transaction processing, relative to other cryptos or traditional payments options. Inherent Scalability Issues with BitcoinBitcoin’s block size limit represents a true bottleneck in its design. This reflects the potential downside of a Proof-of-Work (PoW) system with Bitcoin's consensus protocol.Lags in transaction processing capacity can result in increasing transaction fees and delayed processing of transactions that cannot be fit into a block.This is perhaps one of Bitcoin’s most pressing issues long term, an issue that has since head to the creation of other altcoins or networks to remedy this concern.There have also been many attempts to solve Bitcoin’s scalability problem through software upgrades.Increasing the network's transaction processing limit requires making changes to the technical workings of bitcoin. This is where forks in the network can come into play, be it soft or hard forks.However, forks have resulted in the creation of entirely new cryptocurrency networks such as Bitcoin Cash, among others. Technical optimizations have also been floated to decrease the amount of computing resources required to process and record Bitcoin transactions. Presently there is no consensus on what the best solution to Bitcoin’s scalability is. Read this Term and wide user base among algo traders have been accommodating the high demand across the industry.
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Metaquotes has long been preparing the gradual phase-out of the trading platform. The statement elaborates: "The architecture was designed under the limitations of a different time, due to which it is no longer possible to implement new features that should meet nowadays increased requirements of the industry or the brokers and traders demands."
Who Will be Affected?
The announcement elaborates that the company will stop issuing new licenses to new clients, although the MT4 platform can continue to be used by existing customers. Moreover, brokers who are already using the software will not be able to expand their operations on the platform, as no new servers will be issued in any capacity.
On a positive note, existing customers will continue to get access to technical support as usual, in addition to the continuation of the offering of white label terminals for servers that are already in use. The platform will not be neglected by Metaquotes in any way, and it has already addressed concerns regarding the continuation of security updates and fixing of potential bugs.
Assuring a Smooth Transition
When the Metatrader 5 trading platform was initially launched several years ago, the platform lacked the same community support as its predecessor. Rumors of discontent and issues pertaining to features and functionality flooded the industry. Specifically, traders who enjoyed the hedging function were initially disappointed that the feature did not exist in the new MT5 trading platform. This feature, as well as reports on positions have been added to accommodate the needs of traders, as well as to induce a smooth transition from one system to the next.
Moreover, the general landscape of internet use has dramatically shifted toward mobile devices over the past few years. In response to this trend, many companies have developed user-friendly mobile apps and interfaces, designed to provide end-users with the best possible user experience where the palm of their hands take center stage. Metaquotes is no exception, as in August of last year the company launched its most recent version of the Metatrader 5 iOS application, to the delight of many of its supporters.
In recent months, there has been a trend of many brokerages beginning to offer the Metatrader 5 platform. In an effort to adapt to the significant change to the industry, several technology companies have already begun to adjust to the new software, by adapting their products to fit the technology of the MT5 platform. Among these companies are Gold-i, oneZero, PrimeXM and Tools For Brokers.
Discover credible partners and premium clients at China’s leading finance event!
MT4 has been a staple of FX brokerages and traders for more than a decade. Since its launch 12 years ago, the trading platform grew in popularity, as its user interface and functionality were highly touted by traders. A lot of brokerages offer the trading platform, and it has come to be perceived as the default option. Its Scalability Scalability Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain points in transaction processing, relative to other cryptos or traditional payments options. Inherent Scalability Issues with BitcoinBitcoin’s block size limit represents a true bottleneck in its design. This reflects the potential downside of a Proof-of-Work (PoW) system with Bitcoin's consensus protocol.Lags in transaction processing capacity can result in increasing transaction fees and delayed processing of transactions that cannot be fit into a block.This is perhaps one of Bitcoin’s most pressing issues long term, an issue that has since head to the creation of other altcoins or networks to remedy this concern.There have also been many attempts to solve Bitcoin’s scalability problem through software upgrades.Increasing the network's transaction processing limit requires making changes to the technical workings of bitcoin. This is where forks in the network can come into play, be it soft or hard forks.However, forks have resulted in the creation of entirely new cryptocurrency networks such as Bitcoin Cash, among others. Technical optimizations have also been floated to decrease the amount of computing resources required to process and record Bitcoin transactions. Presently there is no consensus on what the best solution to Bitcoin’s scalability is. Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain points in transaction processing, relative to other cryptos or traditional payments options. Inherent Scalability Issues with BitcoinBitcoin’s block size limit represents a true bottleneck in its design. This reflects the potential downside of a Proof-of-Work (PoW) system with Bitcoin's consensus protocol.Lags in transaction processing capacity can result in increasing transaction fees and delayed processing of transactions that cannot be fit into a block.This is perhaps one of Bitcoin’s most pressing issues long term, an issue that has since head to the creation of other altcoins or networks to remedy this concern.There have also been many attempts to solve Bitcoin’s scalability problem through software upgrades.Increasing the network's transaction processing limit requires making changes to the technical workings of bitcoin. This is where forks in the network can come into play, be it soft or hard forks.However, forks have resulted in the creation of entirely new cryptocurrency networks such as Bitcoin Cash, among others. Technical optimizations have also been floated to decrease the amount of computing resources required to process and record Bitcoin transactions. Presently there is no consensus on what the best solution to Bitcoin’s scalability is. Read this Term and wide user base among algo traders have been accommodating the high demand across the industry.
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Metaquotes has long been preparing the gradual phase-out of the trading platform. The statement elaborates: "The architecture was designed under the limitations of a different time, due to which it is no longer possible to implement new features that should meet nowadays increased requirements of the industry or the brokers and traders demands."
Who Will be Affected?
The announcement elaborates that the company will stop issuing new licenses to new clients, although the MT4 platform can continue to be used by existing customers. Moreover, brokers who are already using the software will not be able to expand their operations on the platform, as no new servers will be issued in any capacity.
On a positive note, existing customers will continue to get access to technical support as usual, in addition to the continuation of the offering of white label terminals for servers that are already in use. The platform will not be neglected by Metaquotes in any way, and it has already addressed concerns regarding the continuation of security updates and fixing of potential bugs.
Assuring a Smooth Transition
When the Metatrader 5 trading platform was initially launched several years ago, the platform lacked the same community support as its predecessor. Rumors of discontent and issues pertaining to features and functionality flooded the industry. Specifically, traders who enjoyed the hedging function were initially disappointed that the feature did not exist in the new MT5 trading platform. This feature, as well as reports on positions have been added to accommodate the needs of traders, as well as to induce a smooth transition from one system to the next.
Moreover, the general landscape of internet use has dramatically shifted toward mobile devices over the past few years. In response to this trend, many companies have developed user-friendly mobile apps and interfaces, designed to provide end-users with the best possible user experience where the palm of their hands take center stage. Metaquotes is no exception, as in August of last year the company launched its most recent version of the Metatrader 5 iOS application, to the delight of many of its supporters.
In recent months, there has been a trend of many brokerages beginning to offer the Metatrader 5 platform. In an effort to adapt to the significant change to the industry, several technology companies have already begun to adjust to the new software, by adapting their products to fit the technology of the MT5 platform. Among these companies are Gold-i, oneZero, PrimeXM and Tools For Brokers.