Exclusive: MetaQuotes Hikes Support Fees for MT4, Continues MT5 Push

MetaQuotes has started informing its broker clients that it intends to increase support fees for the company’s most popular product, Metatrader 4. The hike in monthly prices that the company is charging its clients is by about a third, according to official documents seen by Finance Magnates.

The price hike is going to become effective from the 1st of January 2017 with sources reporting that the hike is applicable only to the MT4 family of products. Earlier this year, the developer of the software MetaQuotes outlined during the Finance Magnates London Summit that a transition to the company’s MetaTrader 5 platform is on the way.

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The software developer did not reply with a comment on the move undertaken by the company.

MetaQuotes outlined at the time that it will be focusing its development resources on the newer version of its widely popular Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. The MetaTrader 5 version of the platform is catering to Multi-Asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term focused brokers and traders. The platform also is offering straight-through processing of order flow out of the box.

With the massive footprint that MT4 has in the industry, a number of companies and traders are still committed to using it. The developers of algorithmic trading strategies have been particularly reluctant to adopt the next generation of the platform.

The Head of Sales of MetaQuotes, Anthony Papaevagorou, outlined during 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.”

The company also shared at the time that since July 2016, MetaTrader 5 has seen an increase in demand and is currently outperforming MetaTrader 4 in terms of sales growth.

The company outlined in its announcement to clients that the price hike is a result of an increase in operating costs.