Will Brokers STOP using MT4 any time soon? | Forex Factory

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Will Brokers STOP using MT4 any time soon?

  • #1
  • First Post: Feb 21, 2020 6:43pm Feb 21, 2020 6:43pm
Will Brokers STOP using MT4 any time soon ?

I use custom indicators on MT4 and wondering if I should be concerned that MT4 might not be available soon .
  • #2
  • Edited Feb 22, 2020 5:56pm Feb 21, 2020 9:46pm | Edited Feb 22, 2020 5:56pm
Quoting joeylegnon
Will Brokers STOP using MT4 any time soon ? I use custom indicators on MT4 and wondering if I should be concerned that MT4 might not be available soon .
Not in the foreseeable future, meaning at least the next 3-4 years. Reason is there is no widely accepted retail alternative in the market. Stopping to offer MT4 means to stop doing retail business for brokers (and Metaquotes). After more than 10 years Metaquotes returns generated by the MT5 platform are negligibly small.
It takes blood, sweat and enough tears to wash away the blood.
  • #3
  • Feb 21, 2020 9:55pm Feb 21, 2020 9:55pm
meta trader is sucks platform see new platform has market profile volume footprint and mt4 so old but we use it for executing orders

while users still using mt4 and many indicators still in use in mt4, this is horrible somehow.., btw mt4 is cheaper rental cost then mt5 for brokers so that's one of the main features that brokers dont want to encourage to change to mt5
  • #4
  • Feb 21, 2020 10:05pm Feb 21, 2020 10:05pm
Quoting mohdqallaf
meta trader is sucks platform see new platform has market profile volume footprint and mt4 so old but we use it for executing orders while users still using mt4 and many indicators still in use in mt4, this is horrible somehow.., btw mt4 is cheaper rental cost then mt5 for brokers so that's one of the main features that brokers dont want to encourage to change to mt5
Your knowledge is flawed. The opposite is true, MT4 licenses are more expensive than MT5 licenses.
It takes blood, sweat and enough tears to wash away the blood.
  • #5
  • Feb 21, 2020 10:26pm Feb 21, 2020 10:26pm
well if it is expensive why brokers didnt force their users to use mt5 at least make offers discounted or less spread for example no bodies caress...
the main problem that Metaquotes face's that mt4 users used to their indicators, well if they made ex4 accepting mt5 it will be soo cool... if i want to force mt4 users to use mt5 i should force developers to stop making mt4 indicators and force them to mt5


but wtf i am talking about to a trash platform did not improve that much, well i only liked to use mt5 for one thing sometimes i need multiscreen window so i need docking chart window and its working fine and makes me happy that's the only features that pushed me into mt5 i did convert and request to have my best indicators to mt5 and happy...

but still mt is sucks platform so old like it wikipeda history https://en.wikipedia.org/wiki/MetaTrader_4

10 years no new platform wtf?? founded in 2000 and ninjatrader after 3 years is ahead of volume indicators tools and so helpful !!
  • #6
  • Feb 21, 2020 11:32pm Feb 21, 2020 11:32pm
Quoting mohdqallaf
well if it is expensive why brokers didnt force their users to use mt5 at least make offers discounted or less spread for example no bodies caress... the main problem that Metaquotes face's that mt4 users used to their indicators, well if they made ex4 accepting mt5 it will be soo cool... if i want to force mt4 users to use mt5 i should force developers to stop making mt4 indicators and force them to mt5 but wtf i am talking about to a trash platform did not improve that much, well i only liked to use mt5 for one thing sometimes i need multiscreen...
The OP's question is not about "sucking" or not. MT4 will stay as long as Metaquotes makes its major returns with it and there is nothing available to substitute that cash flow. Metaquotes enforcing MT5 onto brokers (and retail traders) is the same as committing business suicide. Of course that's not going to happen.
It takes blood, sweat and enough tears to wash away the blood.
  • #7
  • Feb 22, 2020 6:40am Feb 22, 2020 6:40am
Quoting emmzett
{quote} Not in the foreseeable future, meaning at least the next 3-4 years. Reason is there is no widely accepted retail alternative at the market. Stopping to offer MT4 means to stop doing retail business for brokers (and Metaquotes). After more than 10 years Metaquotes returns generated by the MT5 platform are negligibly small.
Worst case scenario all the custom indicators and Expert Advisers I use with MT4 can be converted to be used with MT5 ??

I just hope they always have MT4 available for us to use . If they are making money off MT4 , why discontinue it ??

But businesses can be dumb and do stupid things , like force everyone to use MT5 because they can charge more for it or something like that . But you said they charge more for MT4 licenses ?
  • #8
  • Feb 22, 2020 8:22am Feb 22, 2020 8:22am
Quoting joeylegnon
{quote} Worst case scenario all the custom indicators and Expert Advisers I use with MT4 can be converted to be used with MT5 ?? I just hope they always have MT4 available for us to use . If they are making money off MT4 , why discontinue it ?? But businesses can be dumb and do stupid things , like force everyone to use MT5 because they can charge more for it or something like that . But you said they charge more for MT4 licenses ?
The truth is that there are no superior indicators or experts available in the MT4 world. All that stuff can be done easily with other systems and languages if not even better. There are so many restrictions in MQ4 it’s unbelievable that people stick to it.

I would be happy with a hard cut by MT. We can’t imagine how many old and useless stuff would be die instantly. If you follow this forum for years you see all the times the old bullshit popping up and be discussed again.

Fesh and flexible UI and API would attract new good developers we need here at most (if we count here at the forum we wouldn’t need 2 digits). That’s also a reason for me the start my new transition project to show that we don’t have to stick with that old an rusty MT versions. When we could benefit from all the new stuff (java- or typescript, python, webframeworks like angular, vue) we could concentrate on the real stuff instead solving problems with MT4/5 to get simple algorithms done.
  • #9
  • Feb 22, 2020 12:47pm Feb 22, 2020 12:47pm
Please let me know your mt4 alternatives as I would like to have a look. Always looking at stuff to do with trading. Ta.
  • #10
  • Feb 22, 2020 3:12pm Feb 22, 2020 3:12pm
Quoting Spikehunter
Please let me know your mt4 alternatives as I would like to have a look. Always looking at stuff to do with trading. Ta.
For retail traders in Forex there is no alternative. Meaning a platform targeted to traders with no/very little programming background (99%). See my first reply to this thread.

For stocks and futures there are plenty of retail alternatives. Issue here is for serious trading much larger starting account sizes are needed (at least about 20k). Margin requirements at stock/future exchanges are considerable higher than in the OTC business and this is a big blocker for retail novices.

To be very clear: The decision to continue or discontinue MT4 has nothing to do with us traders. Nobody cares about retail traders losing money (it's quite the opposite). The decision is solely a broker decision and brokers decided that they want to go on with MT4, and to give a thumbs down to MT5. Initially the cost of an MT5 license was the same as for MT4. But after having a look at it nobody wanted it - and the whole project turned out to be a big management failure. To make money with it Metaquotes had to lower the license price, so they could sell at least some.
It takes blood, sweat and enough tears to wash away the blood.
  • #11
  • Feb 22, 2020 5:22pm Feb 22, 2020 5:22pm
Quoting emmzett
{quote} For retail traders in Forex there is no alternative. Meaning a platform targeted to traders with no/very little programming background (99%). See my first reply to this thread. For stocks and futures there are plenty of retail alternatives. Issue here is for serious trading much larger starting account sizes are needed (at least about 20k). Margin requirements at stock/future exchanges are considerable higher than in the OTC business and this is a big blocker for retail novices. To be very clear: The decision to continue or discontinue MT4...
OK thanks
  • #12
  • Feb 22, 2020 5:36pm Feb 22, 2020 5:36pm
Quoting joeylegnon
Will Brokers STOP using MT4 any time soon ? I use custom indicators on MT4 and wondering if I should be concerned that MT4 might not be available soon .
I don't think MT5 will replace MT4 until you see as much support that is currently available for MT4, for MT5. There is currently a lot of support for MT4 in terms of indicators, scripts, EAs, and other tools coded for MT4. You don't see the same for MT5.

My hope is MT4 continues to live on. Also, I don't think there's anything wrong with MT4 and MT5 coexisting from a MetaQuotes business standpoint.
  • #13
  • Feb 22, 2020 5:54pm Feb 22, 2020 5:54pm
I miss Tradestation, too bad the dropped Forex.
  • #14
  • Feb 22, 2020 5:58pm Feb 22, 2020 5:58pm
Quoting investing101
I miss Tradestation, too bad the dropped Forex.
Go with MultiCharts. It's 95% Tradestation and they offer a Forex specific version.
It takes blood, sweat and enough tears to wash away the blood.
  • #15
  • Feb 23, 2020 1:56am Feb 23, 2020 1:56am
Quoting emmzett
{quote} Go with MultiCharts. It's 95% Tradestation and they offer a Forex specific version.
I mean I could still use them for charts I just miss making trades there.
  • #16
  • Feb 25, 2020 3:47pm Feb 25, 2020 3:47pm
MetaQuotes "This is the last MT4 upgrade"
  • #17
  • Mar 30, 2021 2:38pm Mar 30, 2021 2:38pm
They should make Metatrader 6. Same as 5 but you can use all your indicators and EA's in it from 4. People would instantly move.
  • #18
  • Apr 1, 2021 4:40am Apr 1, 2021 4:40am
MT4 was and still is the de facto trading platform for many traders.
I tried MT5 and it's great because I can go back as far as the broker's data allow for the pair that I am trading.
However, MT4 is still the go to for my trades.
  • #19
  • Last Post: May 18, 2021 5:44pm May 18, 2021 5:44pm
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