An Open Letter To Metaquotes: Why 2013 is the last year I plan to use your software.
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The Metatrader 4 platform has been a great source of experimentation, a great tool with which I wouldn’t have been able to achieve the current understanding I have about automated trading. This brilliant platform opened up forex algorithmic trading to the “little guy” and made even “average Joe/Jane” able to run complex (or very simple) automated trading systems from his/her own garage. I have to say dear Metaquotes, you got it right when you developed Metatrader 4, but the success you had went to your head and you have made so many bad decisions during the past few years – at least in my opinion – that I am now saying that I will be leaving you for good because you are no longer the type of company I would like to rely on or work with in my trading. Through this letter I would like to explain the reasons why me – along with many other trades – feel this way about you and why we desire to part ways with your software and most importantly, with your draconian development policies.
I have known your company for a long time. I first traded on your Metatrader 3 platform on IBFX (back in the day!) and I really enjoyed it when you released the MT4 platform. Things were really looking good at this point, I remember article publications about MT4 on your website were common and user suggestions were often implemented within your code. Then things started to go south, for me this was evident as soon as the development of the MT5 platform started. With this platform you took many wrong decisions and you made the incredibly bold choice to completely ignore the suggestions made to you by traders. I understand that traders are not your clients – brokers are – but no broker will want to purchase your platform if no traders want to use it. The reason why you were so successful with MT4 is because it catered to a real need in the market place (automated trading for the little guy) but you have completely neglected retail traders with your MT5 implementation.
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