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In the face of the heated competition that MetaTrader 4 and MetaTrader 5 face, the platforms still enjoy top popularity thanks to the growing use of signals copying and automated trading strategies. This serves as testimony to the continued passion among traders for making use of such products, with the milestone just achieved by MetaTrader Market – the marketplace for all things related to trading, ranging from expert advisors and trading signals to journals and books.
MetaQuotes Software, the developer of the MetaTrader family of platforms, announced on November 3, 2014, that the number of registered sellers of products for MT4 and MT5 reached the lump level of 10,000 people. This is an important achievement given that Market is not so old – it was launched in February 2012, initially for MT5 and was later integrated into MT4.
The growing popularity of the service can be attributed to several factors. Number one is that access to the marketplace is possible directly through the trading terminals, which facilitates the entire process related to subscription and payment. It is also easier for developers to offer their products this way. Then comes the wide number of users of MT4 and MT5 – this means huge potential clientele for any application, with MetaQuotes estimating that currently there are forty buyers for each registered seller. The prospects for reaching vast clientele are indeed present: MQL5.com has an audience of nearly 400,000 registered people in addition to the millions of MetaTrader 4/5 users.
Another important factor for continued popularity of this service is the interest of traders into automated trading systems, with MT4 being famous for the opportunity to use expert advisors. This does not only suit AI fans but also all those who prefer a robot to trade instead of them. Similarly to this, signals trading fits with human passion for socialization and this makes a strong business case for Metatrader Market being there and thriving.
The robust results have been released in spite of various disengagements from MetaTrader 4 by brokers in Japan. Soon after MONEX abandoned the platform, another Japanese FX broker: YJFX, said it would halt offering the trading platform to its clients. Furthermore, there is the issue of competition among platforms: cTrader also offers its users to market their trading apps, including FX robots, and to gain revenues from that. Regarding signals, IG Group has just introduced a Signal Centre to its proprietary platform, in a move to increase engagement and to offer extra trading insight to clients.
It remains an open question whether the Metatrader suite of platforms would be able to retain the affection of sellers and subscribers.
To learn more about MetaQuotes’ achievement and how to market your signals and robots on MT4, click here