MetaQuotes Raises White Label Technical Support Fees

According to information obtained by Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates' reporters, MetaQuotes has decided to unilaterally increase the technical support fee charged to White Labels White Labels White Labeling or white labels are an extremely common practice in the forex market, which implies one buying another firm’s product and then marketing it as its own. This is routinely done in the retail space, as white labeling is helpful in utilizing trading software, platforms, and other additional services that brokerages may offer.What Are the Benefits of White Labels?White labeling is very popular in the forex market given the benefits it bestows to all parties. This includes both the buye White Labeling or white labels are an extremely common practice in the forex market, which implies one buying another firm’s product and then marketing it as its own. This is routinely done in the retail space, as white labeling is helpful in utilizing trading software, platforms, and other additional services that brokerages may offer.What Are the Benefits of White Labels?White labeling is very popular in the forex market given the benefits it bestows to all parties. This includes both the buye Read this Term of Metatrader powered brokerages to $1,000 per month.

In its announcement to clients, the company cites that the decision was forced upon it by increasing operation costs. For existing clients the price hike will take effect starting from April 1st, 2015, giving firms some time before the new technical support fee will come into force.

Introducing brokers who sign up for the Metatrader platform starting from January 2015, the new price will take effect starting next month. The costs for technical support associated with the mobile versions of the Metatrader platforms, however, will remain unchanged at $750 per month.

'Forced' Diversification Away from Metatrader

While MetaQuotes has described the move as “forced” upon it, this could be a factor which could force platform diversification efforts by brokerages going forward. The domination of Metatrader in the platform space is certainly far from over, but also far from certain.

Just like in any business, persistent reliance on a single provider for a certain service prompts the emergence of new and sometimes better products. We have seen a number of companies take aim at delivering a better integrated platform solution to the market.

Arguably, some have succeeded, and it will only take time to break traders' habits of using a very familiar platform for trading. Some brokerages have developed or purchased their own platforms, while others have a choice from a set of emerging companies.

A number of alternative platform solutions from NetDania, Spotware and Tradable, to name a few, are gathering traction in becoming very strong product offerings with full solutions ranging from high quality mobile apps to advanced algorithmic trading features.