Metaquotes Abandons Development of MetaTrader 4

[mlawson71]

Russian fintech company MetaQuotes no longer intends to issue upgrades to the MetaTrader 4 (MT4) as it is focusing entirely on its successor MetaTrader 5 (MT5), according to Anthony Papaevagorou, head of sales at MetaQuotes.

“We do not expect to see any developments to come out of MT4 ever again. Given this, MT4 is slowly dying out,” Papaevagorou said.

 

[M.ST.]

A software replaced by an even worse successor.
In addition those guys are and have been disrespecting their userbase completely for years.

Codes written in MT4 are incompatible in MT5. They do that since MT3.
You have to be masochist to follow such lunatics with their chaotic descision making.

Quote from another forum

MT5 is a marketing scheme to give less power to the user and more power to the "Market Place" This is why there is extreme reluctance to allow MT4 code to run in MT5.

I see MT5 has been around for 5 years already but having much less popularity than MT4 among MT users. So from the company's perpective it kind of make sense to force an exit now. But users are not dumb. They may change to more professionally operating software vendors.

 

[MattZ]

I believe that the decision to stand behind MT5 is because it's a multi asset platform for trading, both OTC (FX, CFDs) and exchange traded products. If you look at the comparison list, you will see that MT5 has put a lot more features in place. http://www.metatrader5.com/en/brokers/comparison-mt5-mt4

We put a short list of features for Futures Trader and demo which you can examine here: MT5 Futures Trading

I am not an expert on MT4 but from what I see, it is a world driven by EAs(expert advisers) algo equations, indicators, etc. Now that MT5 is connected through CQG, it may offer FX/CFD guys the opportunity to trade through regulated exchanges and not dealing desks.

 

[M.ST.]

Typical vendor junk.

Your list a fantasy list. For example there isn't a public 64-bit MT5 available. Where is it?
MT5 being five years on market and the list is still fantasy.

Fact remains as a software MT5 has become more awful than MT4.

Do you think Metaquotes have any stable concept?
This company appears more like a headless chicken running wild.

BTW, where is the compatibility to MT4 codes (see chicken concept)? I forgot, you are not an expert.

Anyway users are definitely not amused about MT5 (for years). They are rather in riot mode (almost) http://www.forexfactory.com/showthread.php?t=615209

 

[M.ST.]

The list is not mine, it is published by MT5.

Good reference ForexFactory guys with $100 accounts who seek 1;1000 leverage and "bonus" on sign ups. Sorry, I thought we can have a decent conversation and not an insulting one. Have a nice day.

You talk about not insulting (softy?) but at the same time insult an entire Metatrader community (AFAICS that posted site seems to be one of the largest meeting places). Where are your facts about the amount of $100 accounts and 1:1000 leverage usage? As you know (or not know) allowed max. leverage at FX brokers in US is 1:50 (which is hypocritical as leverage in futures market can be higher than that). US and A retail traders are not allowed to open accounts abroad. (As aside your advertised margin requirements are in three figure Dollar region. Why pointing that one out?).

The funny thing is your second link is not a metaquotes link (perhaps you are also not an expert in linking) but it is a link to your small shop where you post in bold letters

"MT5 is free."

Why bold letters? Why pointing out "free"? Do the potential clients you are trying to reach have not much money in their pockets?

And in next sentence you target those millions of (quoting) "$100 accounts" you are insulting above.
"The strength of MT5 comes from a community that consists of millions of users that share ideas and code with one another to overcome the challenges of the market."

That one begs the additional question how do they share code when it will become incompatible in MT6 again?

Yeah have a nice day, Mr. Non-expert.

 

[SunTrader]

I don't claim to know but isn't MT free to most users?????

If so, "you get what you pay for".

Most trading sites that I have been on over the years, that MT users also post on such as the aforementioned Forex Factory, are populated mostly with $100 micro account users looking for signup bonuses. "If the shoe fits ...."

So MattZ isn't the only one to see this reality.

 

[M.ST.]

Wow, welcome to the news.
MT is free? Really? Another breaking news for you: MT5 has been around for 5 years already (and still not being popular and still missing features).

Anyway it is about the upper guy's hypocrisy. And the facts are still missing. "Mostly" is a relative term. Where are the actual numbers?
BTW, 4-eyed sock puppet?

But actually it is rather about Metaquotes's disrespect towards their user base.
I'm not using that software at all but if so I would definitely not be amused.
So let's see if their users will finally wake up and will give them a trashing by abandon them.

I have just seen that Matty has deleted his last post. What about that? Funny.

 

[M.ST.]

NT (yes, NT not MT) is mostly used by paper traders, BTW.

 

[SunTrader]

Wow, welcome to the news.
MT is free? Really? Another breaking news for you: MT5 has been around for 5 years already (and still not being popular and still missing features).

Anyway it is about the upper guy's hypocrisy. And the facts are still missing. "Mostly" is a relative term. Where are the actual numbers?
BTW, 4-eyed sock puppet?

But actually it is rather about Metaquotes's disrespect towards their user base.
I'm not using that software at all but if so I would definitely not be amused.
So let's see if their users will finally wake up and will give them a trashing by abandon them.

I have just seen that Matty has deleted his last post. What about that? Funny.

Actually I lied. It is only two MT users. Maybe you know them, Neil and Bob.

 

[MattZ]

I don't claim to know but isn't MT free to most users?????

If so, "you get what you pay for".

Most trading sites that I have been on over the years, that MT users also post on such as the aforementioned Forex Factory, are populated mostly with $100 micro account users looking for signup bonuses. "If the shoe fits ...."

So MattZ isn't the only one to see this reality.

Thanks @SunTrader Just a few points:

The business model of MetaTrader software is to charge the broker for a number of licenses they get and the hosting for those machines. So its free to the user, not the brokerage itself.
MT4 is not being discontinued rather there there will no more upgrades, and I totally understand that. If you have a platform that has the ability to be multi-asset(MT5), I would dedicate all the resources to that as oppose to a platform that focuses on one asset class only.