Discussion of article "Payments and payment methods" - page 109
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PayPal removal on MQL will cost us a lot truly
They can not add crypto as payment and withdrawal because of some limitations in EU and in the US for example.
It is the replies of admins about it which I found on Russian forum:
The methods of withdrawal are working fine: the cards work in most of the times, webmoney works, paypal is temporarily unavailable but I think it may be the best for withdrawal. So, not a problem for any withdrawal.
Users in Russian forum (most of them) are having a lot of governmental/EU/etc limitations concerning cards and so on but they did not complain, and they say that withdrawal methods are very fine (and very fast) - they can use webmoney and they can use UnionPay cards from some banks:
So, not a problem at all.
There are many electronic payment gateways in the world, which I do not think it is problematic to use them according to the laws they are required to comply with.
And surely they are with much less commission than the ones they have here, including PayPal, which has always been very expensive in commissions.
Some ones:
...
I am not from EU and I am not a lawer. So, I do not know: it is the legal, safe and easy for them, or not.
I know that MetaQuotes company is the software development company (not a broker).
And I spoke with admin several years ago by PM, and he told me that his software (Metatrader) will exist
with mql5 forum or without mql5 forum (with Market or without Market), because the main priority for them is to develop the software.
Neteller .. Stripe .. Paypro Global .. Payoneer ...why do they (programmers who are developing the software) need them?
And please do not compare MQ with the brokers.
MQ is not a broker. Because brokers are existing from deposits/withdrawals and so on: if the traders stop deposit.withdrawal from the brokers so the brokers will stop existing. But Metatrader will exist irrespective off the forum, Market, deposits/withdrawals.
Of course, it is more good to have more payment getaways ... but if not so not ...
Of course, it is more good to have more payment getaways ... but if not so not ...
Although I am quoting Sergey’s post, this my post is actually aimed at all those requesting extra payment options.
I can fully understand everyone’s frustration, but I have to acknowledge MetaQuotes’ point of view, and would like to give examples of how other software companies handle this.
For examples, Microsoft, Apple or Adobe — only offer Credit Card, PayPal and Bank Wire Transfers, as payment methods for services and products online.
In fact, for corporate business-to-business services, only Credit Card and Bank Transfers are offered. PayPal is only offered to retail customers, not corporate customers or providers.
So, the fact that MetaQuotes offers more options than these is already a bonus.
And you can forget Cryptocurrencies. Not only are they not allowed under certain business and legal obligations, but they are much too unstable for a non-financial company to manage and MetaQuotes ia a software company, not a financial one.
I am not from EU and I am not a lawer. So, I do not know: it is the legal, safe and easy for them, or not.
I know that MetaQuotes company is the software development company (not a broker).
And I spoke with admin several years ago by PM, and he told me that his software (Metatrader) will exist
with mql5 forum or without mql5 forum (with Market or without Market), because the main priority for them is to develop the software.
Neteller .. Stripe .. Paypro Global .. Payoneer ...why do they (programmers who are developing the software) need them?
And please do not compare MQ with the brokers.
MQ is not a broker. Because brokers are existing from deposits/withdrawals and so on: if the traders stop deposit.withdrawal from the brokers so the brokers will stop existing. But Metatrader will exist irrespective off the forum, Market, deposits/withdrawals.
Of course, it is more good to have more payment getaways ... but if not so not ...
I understand that you are in charge of software development. I myself am one who is trying to earn a position here at MetaQuotes.
But I don't see why they can't increase the deposit and withdrawal options, and compare those against large corporations like Apple or Microsoft, I don't see the point, because, if I'm not mistaken, MetaQuotes does not respond to US legislation. If that is the case, then I totally understand.
But if it is not, then, placing options such as cryptocurrencies is not disadvantageous at all, since everyone who wants to manage them would use them and would save a lot in commissions.
The important thing, from my point of view, is to offer more payment options.
PayPal is still not available, I think we are already 5 days without this option, and it is the one I can only use for withdrawals.
MetaQuotes is restricted by EU laws, not US laws, and in many ways the EU limitations are much more strict than in the US. Also, in the EU, Microsoft, Apple and Adobe have to abide by EU laws as well as US laws.
I understand that you are in charge of software development. I myself am one who is trying to earn a position here at MetaQuotes.
But I don't see why they can't increase the deposit and withdrawal options, and compare those against large corporations like Apple or Microsoft, I don't see the point, because, if I'm not mistaken, MetaQuotes does not respond to US legislation. If that is the case, then I totally understand.
But if it is not, then, placing options such as cryptocurrencies is not disadvantageous at all, since everyone who wants to manage them would use them and would save a lot in commissions.
The important thing, from my point of view, is to offer more payment options.
PayPal is still not available, I think we are already 5 days without this option, and it is the one I can only use for withdrawals.
Sorry i interject like that , i think Sergey means the disadvantage is also in having "reserves" held in crypto that will fluctuate like crazy in value.
On second thought though , if its a withdrawal or deposit method they don't need to hold any crypto . Perhaps its security they are worried for.
So , if i get it , let's say i want to withdraw in Eth , then Metaquotes needs to go to a CEX get eth and send it to their wallet address , and , subsequently to my wallet ... yeah they need to hold crypto . Unless there is an automated payment solution via a CEX which i have not heard of yet (maybe there is)
MetaQuotes is restricted by EU laws, not US laws, and in many ways the EU limitations are much more strict than in the US. Also, in the EU, Microsoft, Apple and Adobe have to abide by EU laws as well as US laws.
So there is nothing to discuss regarding cryptos.
I still insist with using more payment options with other e-wallets the same or similar to PayPal that there are many.