The choice of platforms offered to retail clients is crucial in the prop trading industry. While many alternatives exist, MetaTrader remains the most popular option. Recognizing this, prop firm Axe Trader has decided to add MetaQuotes solutions to its list of available products, bringing its total offering to four different client platforms.
Axe Trader Adds MetaTrader to Its Offering
Previously, Axe Trader clients could trade using cTrader, Match-Trader, and DXtrade. However, customers had been requesting access to MetaTrader, which has long been the dominant platform among retail investors.
This week, Axe Trader responded to client feedback by expanding its offering to include both MT4 and MT5.
"We are excited to announce that our traders can now trade on both MetaTrader 4 and 5," the company stated on X (previously Twitter).
While Axe Trader is not the largest player in the prop trading sector, it now boasts one of the widest platform offerings. Given the recent licensing issues with MetaQuotes, Finance Magnates sought to confirm that Axe Trader had not previously offered MT4/5 to its clients.
Support representatives on the official Discord channel confirmed that this is not a return of MetaQuotes platforms to the offering, but their debut. These tools were not previously available to Axe Trader investors.
"It's a new update we just brought," commented Yenjikag from Axe's support team.
MetaTrader at the Center of Prop Trading Turmoil
The importance of MetaTrader to the prop trading industry was highlighted in February when MetaQuotes, fearing regulatory changes in the US, began terminating agreements with brokers and trading firms providing services in this area.
This caused significant disruption in the industry, blocking new user registrations and prompting a search for alternative trading platforms. It also created an opportunity for FX/CFD brokers, who are increasingly joining the prop trading ecosystem, to offer investors a regulated and secure alternative along with MT platforms.
Although the dust seemed to have settled after February's controversies, the industry continues to experience significant changes. Just a few days ago, Funded Engineer, one of the more popular firms in the sector, announced the end of its operations. Meanwhile, Goat Funded Trader decided to stop offering MetaTrader due to unexplained issues, just a month after resuming access to the platform.
Regulators are also paying closer attention to the industry, suggesting that prop trading carries significant risks for retail clients. Earlier this month, Italian regulator Consob compared this form of trading to "video games."
