Why is the adoption of the MT5 platform so slow?
Talked to 4 brokers offering services to American traders: FXCM, CitiFx, Alpari US, ACT Brokers. None of them have given a specific deadline for introducing the MT5 platform on live accounts. Alpari US said MT5 doesn't comply with US regulations yet. ACT Brokers half year ago said they will roll out MT5 at the end of the year and now they say they have "no plans to offer MT5 at all". Exactly the same kind of reassuring response from CitiFx. Only FXCM were interested in why I need MT5, saying that they always consider clients' opinions. What is it? Am I really going to have to rewrite all my MT5 creations back to MT4?
- Certainly MT5 was far more improved over MT4. But still majority traders are using MT4........
- Why do brokers unlist MT5 and keep MT4 ?
- Public discussion of the formula for calculating the cost of resources in the MQL5 Cloud Network
gpwr:
I spoke to 4 brokers offering services to American traders: FXCM, CitiFx, Alpari US, ACT Brokers. None of them gave any specific deadline for introducing MT5 platform on live accounts. Alpari US said MT5 doesn't comply with US regulations yet. ACT Brokers half year ago said they will roll out MT5 at the end of the year and now they say they have "no plans to offer MT5 at all". Exactly the same kind of reassuring response from CitiFx. Only FXCM were interested in why I need MT5, saying that they always consider clients' opinions. What is it? Am I really going to have to rewrite all my MT5 creations back to MT4?
I spoke to 4 brokers offering services to American traders: FXCM, CitiFx, Alpari US, ACT Brokers. None of them gave any specific deadline for introducing MT5 platform on live accounts. Alpari US said MT5 doesn't comply with US regulations yet. ACT Brokers half year ago said they will roll out MT5 at the end of the year and now they say they have "no plans to offer MT5 at all". Exactly the same kind of reassuring response from CitiFx. Only FXCM were interested in why I need MT5, saying that they always consider clients' opinions. What is it? Am I really going to have to rewrite all my MT5 creations back to MT4?
Alfa Bank and VTB24 to help at first...
R0MAN: Alfa Bank and VTB24 are there to help at first...
We were talking about "services to American traders". But never mind. Tell me, has VTB24 already allowed auto-trading on MT5?
R0MAN:
In the US, the situation is different and seems completely deaf to me. Sending money over seas to brokers I don't know is scary. Even here not all brokers can be trusted. CitiFx is my first choice, they have FDIC deposit insurance. In addition, they are the second largest forex broker in terms of trading volume. And they provide the most liquidity by sending their clients' orders straight to the interbank market. But they act as if they are not going to offer MT5 to their clients at all.
Alfa Bank and VTB24 are there to help in the beginning...
You have chosen the wrong direction to look.
America is now the death zone for forex, where companies have left or are leaving, tearfully calculating the losses of their development investments. There is no room for development there now. In fact, only a couple or three big companies will remain in retail.
CitiFX has a focus on being a liquidity provider to serve other brokers. By the way, just MT5 has a native gateway to CitiFX which is used by a number of our clients (e.g. Admiral Markets).
The statement about the non-compliance with the conditions of the regulator is incorrect and based on simple ignorance of the MT5. It's just that MT5 is compliant with any little thing that the regulator can put up.
America is now the death zone for forex, where companies have left or are leaving, tearfully calculating the losses of their development investments. There is no room for development there now. In fact, only a couple or three big companies will remain in retail.
CitiFX has a focus on being a liquidity provider to serve other brokers. By the way, just MT5 has a native gateway to CitiFX which is used by a number of our clients (e.g. Admiral Markets).
The statement about the non-compliance with the conditions of the regulator is incorrect and based on simple ignorance of the MT5. It's just that MT5 is compliant with any little thing that the regulator can put up.
Renat:
America is now the death zone for forex, where companies have left or are leaving, tearfully calculating the losses of their development investments. There is no room for development there now. In fact, only a couple or three big companies will remain in retail there.
Why?
America is now the death zone for forex, where companies have left or are leaving, tearfully calculating the losses of their development investments. There is no room for development there now. In fact, only a couple or three big companies will remain in retail there.
You can trade on Fibo on MT5. A year ago they had a crooked commission there, but the spreads were quite sane. Roboforex also seems to offer MT5 on normal terms.
dimeon:
You can trade on Fibo on MT5. A year ago they had a crooked commission there, but the spreads were quite sane. Roboforex also seems to offer MT5 on normal terms.
Neither of them accept US citizens.
You can trade on Fibo on MT5. A year ago they had a crooked commission there, but the spreads were quite sane. Roboforex also seems to offer MT5 on normal terms.
Renat:
By the way, MT5 has a native gateway to CitiFX which is used by some of our clients (for example Admiral Markets).
By the way, MT5 has a native gateway to CitiFX which is used by some of our clients (for example Admiral Markets).
Talked to AdmiralMarkets. This is what they say:
Unfortunately we cannot open a real account for residents of your country. In future if we find such possibility we immediately inform about this in our webpage.
gpwr:
Will I have to rewrite all my MT5 creations back into MT4?
Will I have to rewrite all my MT5 creations back into MT4?
yes, if your creations make sense.
gpwr:
Why?
Why?
These are the realities and consequences of over-regulation.
It is very likely that in the next 6 months, a raft of other companies will close/sell/merge/leave in America.
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register