Discussing the article: "How We Built the Most Powerful Machine Learning-Powered Trading Platform: The Evolution of MQL and MetaTrader Through Archives, Forums, and Releases" - page 3

[Ryan L Johnson]

Renat Fatkhullin #:

It’s written clearly and plainly: an official and licensed NASDAQ data provider.

We can only operate officially and under licence.

The licence was issued by NASDAQ itself; we have a direct cross-connect to NASDAQ at Equinix NY4.

Thank you. I stand corrected regarding Metquotes data provider licensing─presumably, throughout MT5 For Hedge Funds as well─unless that's handled by Metaquotes MT5 For Hedge Funds broker-dealer partners, I suppose.

Again I say, why isn't the same level of connectivity extended to non-professional/retail MT5 users? (Non-professional data is substantially cheaper than professional data, and surely servicing one individual would be cheaper than servicing an entire hedge fund of traders).

[Ryan L Johnson]

Miguel Angel Vico Alba #:

It already is available to non-professional retail users: https://www.metatrader5.com/en/news/2365

To clarify, MT5 For Hedge Funds isn't limited to NASDAQ:

[Renat Fatkhullin]

Ryan L Johnson #:

Thank you. I admit I was mistaken regarding the licensing of the MetaQuotes data provider — presumably, this also applies to the MT5 For Hedge Funds platform — unless, of course, MetaQuotes’ broker-dealer partners for the MT5 For Hedge Funds platform aren’t handling this, as I understand it.

I’ll ask again: why isn’t the same level of connectivity provided to non-professional/retail MT5 users? (Non-professional data is significantly cheaper than professional data, and, of course, serving a single private individual will cost less than serving an entire hedge fund of traders.)

Most exchanges and market data providers classify their clients into two categories:

• Professional
• Non-Professional

Before using any market data subscription, the user must confirm their trader status as either a non-professional trader or a professional trader.

Typically, a non-professional trader is an individual who uses market data solely for personal purposes, exclusively to manage their personal assets, and does not use it for commercial purposes on behalf of an organisation or for the benefit of third parties. A Professional Trader, on the other hand, refers to an individual or organisation that uses Market Data for commercial or professional purposes, such as for trading, general business activities, making investment decisions on behalf of an employing company, or adding value to the activities of enterprises or organisations. Furthermore, individuals registered as investment advisers or securities professionals, or those engaged in similar activities, are also considered Professional Traders.

The cost of a Market Data subscription may vary significantly between Non-professional and Professional Traders. Users bear full responsibility for providing accurate information regarding their trader status.

[Ryan L Johnson]

Renat Fatkhullin #:

Most exchanges and market data providers classify their clients into two categories:

• Professional
• Non-Professional

Before using any market data subscription, the user must confirm their trader status as either a non-professional trader or a professional trader.

Typically, a non-professional trader is an individual who uses market data solely for personal purposes, exclusively to manage their personal assets, and does not use it for commercial purposes on behalf of an organisation or for the benefit of third parties. A Professional Trader, on the other hand, refers to an individual or organisation that uses Market Data for commercial or professional purposes, such as for trading, general business activities, making investment decisions on behalf of an employing company, or adding value to the activities of enterprises or organisations. Furthermore, individuals registered as investment advisers or securities professionals, or those engaged in similar activities, are also considered Professional Traders.

The cost of a Market Data subscription may vary significantly between Non-professional and Professional Traders. Users bear full responsibility for providing accurate information regarding their trader status.

Yes, I know. I've been trading CME futures in the U.S. for years.

If no one can discuss the multi-market/exchange/broker-dealer/account features of MT5 For Hedge Funds, I understand.

[Miguel Angel Vico Alba]

Ryan L Johnson #:

If no one can discuss the multi-market/exchange/broker-dealer/account features of MT5 For Hedge Funds, I understand.

Those features are publicly described here: https://www.metatrader5.com/en/hedge-funds

MT5 for Hedge Funds is institutional infrastructure; a retail MT5 user connects through the infrastructure and gateways provided by the broker.

If you still consider that your question has not been answered, please ask it again, but be specific about exactly what you want to know. I think this discussion has gone around in circles enough.