FX Portal Confirms It Operates By The fxbook: Response to MetaQuotes Allegations of Hacking Published
by
Andrew Saks McLeod
In the wake of last week's block imposed by MetaQuotes against four third party signal providers, Myfxbook has published a notice to its clients on the company's blog stating that its service is fully functional.
In a somewhat delayed reaction to last week’s notice posted on MetaQuotes broker support site urging brokers to desist from using third party signal providers, Myfxbook has provided its take on the situation which involved allegations by MetaQuotes that such platforms facilitate hacking of a MetaTrader 4 protocol and therefore violate the terms of the software license.
The message to users cites the reason for the blocking of Myfxbook’s servers by MetaQuotes as being due to the “high load created on their server), and advises that the automatic update has now been removed from Myfxbook’s offering, but apart from this, it has full functionality. This represents a contrast to the response proffered by Tradency, one of the other firms cited, in which the company announced its intention to cease working with MetaQuotes the same day as the allegations were made.
Speaking to Forex Magnates on the subject, Myfxbook Alex Rekun, co-founder and CEO of Myfxbook explained: “The delayed answer is simply because we've been trying to reach out to MetaQuotes so they can explain us if and what are we doing wrong. We believe our servers got blocked simply because of the load we've been creating on their servers. This issue can be simply solved with a dedicated API from MetaQuotes - we've asked this several times for the past few years, always with a negative answer.”
“I would like to make it clear that we have not hacked any protocols, we have not been contacted by MetaQuotes before we got blocked, nor we were able to contact them to get to the bottom of this - that is their decision which we respect and therefore no longer offer auto update option” concluded Mr Rekun.
Myfxbook was one of four third party copy Trading Platform and signal providers which were cited by MetaQuotes under the notice to brokers last week, the others being Tradency, ZuluTrade and Tradeo.
The full notice to Myfxbook’s clients is as follows:
Dear Traders,
Due to recent events of MetaQuotes blocking our servers (which we believe is because of the high load we created on their servers) you might have noticed we’ve stopped offering the auto update option.
We would like to make it clear that no other functions of Myfxbook are affected and everything is working as expected.
If you were using the auto update option, we kindly ask you to change it to the EA method – your account will resume updating normally ( https://www.myfxbook.com/help/connect-metatrader-ea )
As a side note, we’re working on many new features and integration of new trading platforms so stay tuned!
If you have any comments/feedback or issues, as always our support team is here to help (support at myfxbook.com)
Thanks,
The Myfxbook Team.
In a somewhat delayed reaction to last week’s notice posted on MetaQuotes broker support site urging brokers to desist from using third party signal providers, Myfxbook has provided its take on the situation which involved allegations by MetaQuotes that such platforms facilitate hacking of a MetaTrader 4 protocol and therefore violate the terms of the software license.
The message to users cites the reason for the blocking of Myfxbook’s servers by MetaQuotes as being due to the “high load created on their server), and advises that the automatic update has now been removed from Myfxbook’s offering, but apart from this, it has full functionality. This represents a contrast to the response proffered by Tradency, one of the other firms cited, in which the company announced its intention to cease working with MetaQuotes the same day as the allegations were made.
Speaking to Forex Magnates on the subject, Myfxbook Alex Rekun, co-founder and CEO of Myfxbook explained: “The delayed answer is simply because we've been trying to reach out to MetaQuotes so they can explain us if and what are we doing wrong. We believe our servers got blocked simply because of the load we've been creating on their servers. This issue can be simply solved with a dedicated API from MetaQuotes - we've asked this several times for the past few years, always with a negative answer.”
“I would like to make it clear that we have not hacked any protocols, we have not been contacted by MetaQuotes before we got blocked, nor we were able to contact them to get to the bottom of this - that is their decision which we respect and therefore no longer offer auto update option” concluded Mr Rekun.
Myfxbook was one of four third party copy Trading Platform and signal providers which were cited by MetaQuotes under the notice to brokers last week, the others being Tradency, ZuluTrade and Tradeo.
The full notice to Myfxbook’s clients is as follows:
Dear Traders,
Due to recent events of MetaQuotes blocking our servers (which we believe is because of the high load we created on their servers) you might have noticed we’ve stopped offering the auto update option.
We would like to make it clear that no other functions of Myfxbook are affected and everything is working as expected.
If you were using the auto update option, we kindly ask you to change it to the EA method – your account will resume updating normally ( https://www.myfxbook.com/help/connect-metatrader-ea )
As a side note, we’re working on many new features and integration of new trading platforms so stay tuned!
If you have any comments/feedback or issues, as always our support team is here to help (support at myfxbook.com)
Thanks,
The Myfxbook Team.
Devexperts Checks Off Type 2 SOC 2 Audit for Enhanced Data Security
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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