-I’m not worried about the self-entitled keyboard warriors. They can bring nothing new to the table that regulators are not already aware of. As we have seen before, some brokers may be put on a so-called red list if enough complaints are made, but business goes on as usual. 
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They come in here talking about a platform that no current offshore broker I know use, sounds suspicious
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I’m still trying to figure out what’s going on with MT4/5 and offshore brokers.
Can New Offshore Brokers Adapt as MetaQuotes Tightens Its White Label Policy?
- MT4/5 is the top choice trading platform among CFD brokers, even white labels.
- But, MetaQuotes’ new white label requirements are troubling new offshore brokers.
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Looks like I won’t be using them. There’s custom indicator I use built for MT5 that is an integral part of my strategy. I can only trade with MT5 ( I need more TF’s than what MT4 has ), so seeing this happen sucks.
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Yes.
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I am curious about whether or not this is what we are seeing. The article describes the difficulty that new brokers are having when trying to get on-boarded as a white-label service as well as existing metatrader brokers trying to get their MT5 license.
It seems that this article was written last year, so I would expect that we would have started seeing this activity sooner, of brokers dropping meta. I cannot imagine that an existing broker that already has MT4, would just drop it because they could not get an MT5 license.
Although, I suppose that meta’s policy could have changed, and the more stringent measures are now being applied to current MT4 license holders. And if old licenses are expiring, then it could make sense that even established brokers are only now dropping off because they cannot meet the new requirements. It is a curious thing.
The article also talks about MetaQuote’s motive behind the move, and how they could possibly be trying to follow stricter KYC procedures in an effort to stay in line with the global standards while also enhancing the quality of entities entering into the brokerage space.
While it makes sense on the surface, it doesn’t really compute well for me. I simply see no reason that meta would need to do this unless they were be pressured or incentivized to do so, as it would simply limit their market reach and overall profit-potential. Although, I suppose that it could simply just be bad decision-making.
Either way, I think that it could present a bad precedent. It should not be up to meta, regulators or any other, single entity to enforce or regulate what they deem to be a ‘quality’ market. Let the people dictate what that should look like, and let the market evolve on its own.
Just like people can choose which broker(s) that they want to use. If a broker with bad intentions pops up, they will be identified quickly and people will simply stop using them; the bad apples will be phased-out by natural selection.
Unfortunately, we are deemed too stupid and irresponsible to make our own decisions and protect ourselves, so we need things like seat belt laws and imaginary regulatory protections etc… Of course, we can thank people like those that post here, advocating for regulation, as well as those that cry to authorities and threaten to sue whenever something bad happens, in lieu of chalking it up as a loss and learning from it etc…
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WTH! Did you get this in an email? I didn’t receive notice of this.
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We all know MT4 and MT5 was banned on apple app store. Why do you think that was the case, it was not last year but this year that it happened. MetaQuotes are russians and they dont give a ShT about US traders unless they were arm twisted by CFTC and APPLE (another US company) to kick in the BuT of offshore brokers. I bet you will have many many more brokers loosing their MT licenses
But it doesn’t make sense. Why would they cut their arm off like that? Offshore brokers provide services to other countries, not just the US. What the heck is going on?
Now I’m dealing with support at Hankotrade, trying to make sense of it, only to be told that I just need to download ACT and login. As if it were that easy. What about my indicators, EA’s? And learning a new platform on such short notice. This is insane.
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Yes, email.
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I didn’t get any notification. And support is acting as if this is no big deal.
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Support is telling me that in the coming few weeks, metaquotes-compatible EA’s shall also become compatible with ActTrader. Can anyone confirm this?
If you’ve traded on fxcm, you have used ACT Trader. it is the primary platform used by clients on fxcm
FXCM Trading Station is ACT Trader 
This is not helpful. Downloading ActTrader now to check it out.
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I will adapt as needed, obviously, but it is disappointing to see how this has been handled and feeling that these brokers are not being fully-transparent with their client base.
MT4 and MT5 are still on the App Store, has been since March of this year.
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Hugo’s Way is now showing MT4 Pro as an option.
Spoke with FXChief support and they confirmed that they do not have plans to migrate away from Metatrader. When asked if they still accept US residents, support ghosted me.
When asking Hanko about the move (and why I wasn’t notified), they simply told me that they are upgrading the platform and soon information will be shared. Okay…
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It’s all about adapting, like we adjusted to trading with offshore brokers when cftc butted in. But we’ve got solid options & ActTrader’s one of them or maybe the only option in days to come it seems. Meta will pull out support for other brokers too sooner than later.
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Is there any other good broker like FXChoice, they seem to closing down, can’t open trade anymore, can’t deposit, can’t withdrawal, it’s same with closing down, yet they don’t want to acknowledge it yet. I try FXGlory but there’s plenty bad review that they rejected when people withdraw their money, is this true? anyone here with FXGlory? experience please?
-I will be spending the weekend studying it. If what Hanko support said about cross-compatibility for EA’s is true, then that would be nice. I do not really need anything special, honestly, but it would be nice to keep things similar. I use some basic scripts from time-to-time that are handy as well.
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