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Metaquotes Will No Longer Sell its MT4 Trading Platform

  • #21
  • Jan 13, 2018 2:22am Jan 13, 2018 2:22am
Quoting braintheboss
{quote} I'm not talking about that. Im talking about you can useverything account using MT5 for process everything taking advantges of new platform
Thanks. Could you or someone here tell me if such back-end capabilities are also available via API. I would think not. I have not yet researched "MT4 bridge" functionality but there must be a way to bypass MT4 via FIX and send directly to the true counterparty (or LPs/prime brokerage). I see a lot of unregulated brokers also offer API trading which makes me wonder what else is out there that traders are not openly aware of
Staying in my lane...
  • #22
  • Jan 13, 2018 2:43am Jan 13, 2018 2:43am
"Will no longer sell" - what does that mean?!
That you in future are no longer able to open accounts at brokers with mt4 software?!
And what about the recent accounts; will there still be updates or will it be just shutdown one day?!
Check page 1 for all infos...
  • #23
  • Jan 13, 2018 2:51am Jan 13, 2018 2:51am
Quoting VEEFX
{quote} It's not with Oanda but MT4 platform linked with Oanda. That's all I would say about Oanda as it is the only relatively safe option available to US traders. Can't publicly throw dirt on them but they are NOT the sweethearts Oanda forum members preach (I don't visit their forums or FXCM's dailyFX... they are all filled with strategies that ultimately benefit the broker).
Thanks VEEFX...
  • #24
  • Jan 13, 2018 3:06am Jan 13, 2018 3:06am
Quoting VEEFX
{quote} Thanks. Could you or someone here tell me if such back-end capabilities are also available via API. I would think not. I have not yet researched "MT4 bridge" functionality but there must be a way to bypass MT4 via FIX and send directly to the true counterparty (or LPs/prime brokerage). I see a lot of unregulated brokers also offer API trading which makes me wonder what else is out there that traders are not openly aware of
Its easier. You pass MT4 feeds to MT5 using a OS protocol ( for example file mapping). As MT5 have custom symbols all data can be used by MT5 tools. Later you have send result to MT4

PD: About FIX API are brokers who must give you. But its very complex and limited use FIX API.
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Try don't lose pants never...
  • #25
  • Jan 13, 2018 3:12am Jan 13, 2018 3:12am
Quoting braintheboss
{quote} Its easier. You pass MT4 feeds to MT5 using a OS protocol ( for example file mapping). As MT5 have custom symbols all data can be used by MT5 tools. Later you have send result to MT4 {image} {image}
Thanks. Seems interesting. I have not played with Mt5 yet and I am not sure if any offshore broker currently offer MT5 for US based traders.
Staying in my lane...
  • #26
  • Jan 13, 2018 3:15am Jan 13, 2018 3:15am
Quoting VEEFX
{quote} Thanks. Seems interesting. I have not played with Mt5 yet and I am not sure if any offshore broker currently offer MT5 for US based traders.
At this moment any MT5 broker have an account with same advantages that MT4. But you dont need trade in MT5. But make projects in MT4 is useless now. It compensate create a tool for work with data inside MT5 and use MT4 only for open/close trades.

Its approach im using. I trade MT4 account but im passing my tools to MT5 for make the processing job
Try don't lose pants never...
  • #27
  • Jan 13, 2018 4:00am Jan 13, 2018 4:00am
In reality not much has changed.

Metaquotes are a band of programmers, and -- for better or worse -- MetaTrader products have always been developed for the benefit of programmers, and of course brokers -- their target market -- NOT traders. The app shop is further evidence of all of this.

Just as it is currently with MT4, the ninety-whatever percent of trader wannabes will burn their accounts using MT5. As for the rest: for those willing to adapt, it's a case of business as usual.

Quoting Mingary
this is the end of retail forex.
I doubt this. Only the legislating authorities have the capacity to bring about the demise of retail forex. Worst case scenario for Metaquotes is that they will lose some of their market share, creating opportunities for competitors to provide 'free' charting/trading platforms to the bottom end of the retail market. And as long as such platforms are available, there will always be a fresh supply of newbies who believe they can turn their beer money into a life changing amount.

Alas, scams will exist for as long as there are gullible folk willing to buy into them.
  • #28
  • Jan 13, 2018 4:11am Jan 13, 2018 4:11am
If I have custom indicators, do I will need to let them reprogram for MT5 or is MT5 backward compatible? If not this would absolutely suck and I would directly switch to Ninja/cTrader/Sierra Charts whatever...
Is there any chance that some brokers will keep MT4 for the next years?
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #29
  • Jan 13, 2018 4:19am Jan 13, 2018 4:19am
Quoting michisuperfr
If I have custom indicators, do I will need to let them reprogram for MT5 or is MT5 backward compatible? If not this would absolutely suck and I would directly switch to Ninja/cTrader/Sierra Charts whatever... Is there any chance that some brokers will keep MT4 for the next years?
If you want avoid rewrite all indicator is always more practical pass to newer current platform that go to new platform. Anyway is a personal choice...
Try don't lose pants never...
  • #30
  • Jan 13, 2018 4:25am Jan 13, 2018 4:25am
Quoting michisuperfr
If I have custom indicators, do I will need to let them reprogram for MT5 or is MT5 backward compatible? If not this would absolutely suck and I would directly switch to Ninja/cTrader/Sierra Charts whatever... Is there any chance that some brokers will keep MT4 for the next years?
Unfortunately, mql5 language (mt5) is not backwards compatible with mql4 (mt4) . All custom indicators and/or expert advisors have to be rewritten to run on mt5.
  • #31
  • Jan 13, 2018 4:37am Jan 13, 2018 4:37am
Quoting grandaevus
{quote} Unfortunately, mql5 language (mt5) is not backwards compatible with mql4 (mt4) . All custom indicators and/or expert advisors have to be rewritten to run on mt5.
You are wrong. Language is same. Only some API are different ( basically orders API). But with small changes work out of box
Try don't lose pants never...
  • #32
  • Jan 13, 2018 4:43am Jan 13, 2018 4:43am
Quoting braintheboss
{quote} You are wrong. Language is same. Only some API are different ( basically orders API). But with small changes work out of box
I know, but they won't work out of box.

More or less, you have to make some cosmetic changes in the source code.
  • #33
  • Jan 13, 2018 4:50am Jan 13, 2018 4:50am
Quoting grandaevus
{quote} I know, but they won't work out of box. More or less, you have to make some cosmetic changes in the source code.
But that is a planning issue. With a convenient framework ( or using MT standard library) you can work in both platforms. The real problem is almost all MT4 tools are coded as individual project or they were made when this standard library didnt exist yet. Then in that case the conversion can be longer. But MT post a conversion code for missing MT4 features in MT5 doing this case very easy too
Try don't lose pants never...
  • #34
  • Jan 13, 2018 4:50am Jan 13, 2018 4:50am
Mt4 will work for a good at least 5, maybe even 10 more years. Do not panic...

Metaquotes will likely lose lots of market share with that move.

Or maybe not?

It depends for whom mt4 was really built for?

Brokers or traders?

I know brokers are among the nicest people I have ever met in my life. Not sure about the traders...
Maadik Hugiis. IQ 69.
  • #35
  • Jan 13, 2018 4:51am Jan 13, 2018 4:51am
when I post this people fun w me

Coding MT4 to MT5 & other Trading Softwares
WaBaS Where are Buyers and Sellers
  • #36
  • Jan 13, 2018 4:54am Jan 13, 2018 4:54am
Quoting MoneyZilla
Mt4 will work for a good at least 5, maybe even 10 more years. Do not panic... Metaquotes will likely lose lots of market share with that move. Or maybe not? It depends for whom mt4 was really built for? Brokers or traders? I know brokers are among the nicest people I have ever met in my life. Not sure about the traders...
You dont forget MT4 server fee is 4x times more expensive. Question is when brokers will have same MT4 account conditions. I think they are waiting have some plugins ported ( like virtual dealer). I readed a couple of companies are offering a full solution for MT5 to brokers
Try don't lose pants never...
  • #37
  • Jan 13, 2018 4:56am Jan 13, 2018 4:56am
Quoting MoneyZilla
Mt4 will work for a good at least 5, maybe even 10 more years. Do not panic... Metaquotes will likely lose lots of market share with that move. Or maybe not? It depends for whom mt4 was really built for? Brokers or traders? I know brokers are among the nicest people I have ever met in my life. Not sure about the traders...
dream on

MT4 created for desk not for STP STP/ECN
Desks over MT4 over
WaBaS Where are Buyers and Sellers
  • #38
  • Jan 13, 2018 4:57am Jan 13, 2018 4:57am
take ur time, soon many traders will wait in queue for converting to mql5
WaBaS Where are Buyers and Sellers
  • #39
  • Jan 13, 2018 5:27am Jan 13, 2018 5:27am
Quoting braintheboss
{quote} You dont forget MT4 server fee is 4x times more expensive. Question is when brokers will have same MT4 account conditions. I think they are waiting have some plugins ported ( like virtual dealer). I readed a couple of companies are offering a full solution for MT5 to brokers
ppl like it or not
MT5 is inevitable, MT4 is lame duck
WaBaS Where are Buyers and Sellers
  • #40
  • Jan 13, 2018 5:45am Jan 13, 2018 5:45am
just want to tell you something, since more and more people say mt4 is b*shit and you cannot win with it...
I traded with cmc markets for one year, and made some gain, some loss... nothing that could be satisfying.
Sitting in front of your PC for months you demand some sort of effort, not +/- zero
when I switched to mt4, and found this website here, with lot of custom indicators and many ideas based on mt4 platforms, I started to make some money.
Why are so many thread contributors - of big threads - successfully contributing here, making pips, when mt4 is such shit?!
Check page 1 for all infos...
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