Most of you, I assume, received the email announcing Hanko’s transition to a different trading terminal. They updated it this morning, and I anticipate that it will take me a very long time to adjust.
I’ve read that because Metaquotes is closing down or whatever, this will affect almost all brokers. Is this accurate?
Does anyone know more about why this is happening?
Hello guys,
as of now, MetaQuotes has not made an official declaration that they will be closing. In fact, they continue to develop and support their MetaTrader platform, specifically MetaTrader 5 (MT5), which is regarded as the platform’s future.
MetaQuotes isn’t shutting down, but it’s facing challenges due to its Russian origins. Some companies are hesitant to use MetaTrader, similar to how Apple briefly removed it from the App Store. While MetaQuotes’ situation isn’t causing a mass exodus of brokers, it’s influencing some companies’ decisions.
The shift from Hanko to a new trading terminal likely stems from several reasons:
Platform Updates: Trading platforms frequently require updates to enhance functionality, security, or to comply with new regulations.
End-of-Life: Older platforms may be approaching their end-of-life, prompting a move to more modern and supported alternatives.
Cost-Efficiency: Adopting a new platform can sometimes be more cost-effective over time.
Brokerage Strategy: Brokers may opt for a new platform to better align with their business strategy or to offer clients enhanced features.
Regarding MetaQuotes:
MT4/MT5: MetaQuotes’ MT4 and MT5 trading platforms remain widely used in the forex industry.
Continued Support: Despite rumors of MetaQuotes closing, the company continues to provide updates and support for these platforms.
Broker Choice: The decision to switch platforms is ultimately up to individual brokers. Some may continue using MetaQuotes, while others might explore different options.