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The battle for supremacy within the platform sector continues its momentum as MetaQuotes today launches a facility for traders to rent MetaTrader Market applications, which include expert advisers (EAs) and indicators.
MetaQuotes considers that renting a product is much cheaper than purchasing a full license, and that doubts about buying a robot or expert adviser can be put to rest by renting rather than laying out capital to make a purchase.
Additionally, this feature allows traders to test an indicator without the limitations of using a demo version, allowing traders to rent a program for a certain period of time to evaluate its usefulness.
This feature brings MetaQuotes’ highly EA-friendly MetaTrader 4 platform into direct competition with newer API-based platforms such as cTrader, which offers a full backtesting facility within its cAlgo product for robots, and an open policy for traders to develop their own algorithms and place them for availability to other traders.
Continuing its competition with other retail FX platforms in this specialist area, MetaQuotes states that the new option to rent applications is beneficial for developers as well, since they are able to attract more clients by lower prices and more flexible payment conditions.
Developers decide whether their products are available for rent and set appropriate rental fees. Thus, application sellers can significantly expand their customer base, since many potential buyers are reluctant to purchase a product due to its high price.
Buyers, in turn, are able to try an application by renting it at a low cost. Unlike a demo version, a rented program has no limitations. After the rental period expires, traders can easily extend it or buy a full version.
For the official announcement from MetaQuotes, click here.