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MT5 Will Phase Out MT4, but It Will Take Time

Though more companies are offering MT5 now, it is nowhere near MT4 in terms of trading volume.

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MetaQuotes Software launched MetaTrader 5 (MT5) in 2010. Despite the added features and many advantages over the predecessor, MetaTrader 4 (MT$) still remains the favorite forex and CFDs trading platform of both brokers and traders.

But, things have changed. Recently, the Russia-originated software company announced that the number of companies using MT5 has exceeded the ones using MT4 this month.

This is an achievement for MetaQuotes as it took the refreshed version 11 years to overtake its predecessor in some form even after a massive push by the company. But, what has changed?

MT5 Is Superior, No Doubt in That

MT5, is no doubt, a superior trading platform than MT4. The new version supports trading in a wide range of markets, compared to MT4, which only supports forex and CFDs trading. In addition, the platform provides better control with the need for fewer third-party plugins and comes with an STP Gateway that allows any MT5 broker to connect directly to any other MT5 broker for liquidity.

Deepak Jassal, Executive Director at M4Markets
Deepak Jassal, Executive Director at M4Markets

“The main benefit we see of MT5 is the technological updates done by MetaQuotes. That makes it much more versatile for our traders,” Deepak Jassal, Executive Director of M4Markets, told Finance Magnates.

“Because of the technology that powers it, MT5 has a lot more capabilities, and it simply offers more trading tools to the user, it should be the tool of choice for traders.”

Despite being technically superior, MetaQuotes had to push a lot to force brokers to adopt the refreshed MT5. The company stopped selling MT4 in January 2018 and also brought drastic changes in its pricing, making the new platform much cheaper than the older one.

Michał Karczewski, COO at Match-Trader

“From the broker’s perspective, it can be the recent question of pricing,” said Michał Karczewski, Co-Founder, and Chief Operating Officer at Match-Trade Technologies, a trading industry technology provider.

“After MetaQuotes has changed its pricing policy and has waived off the license and setup fees for white label platforms, the monthly cost of the MT5 platform is significantly lower than the MT4 fee, though it comes with certain restrictions.”

Data Shows MT4’s Dominance

Despite all these efforts, it still remained tough to challenge the dominance of the legacy platform. 

According to the data gathered and compiled by Finance Magnates Intelligence, 84.5 percent of the trading volume distribution on MetaQuotes’ platforms was dominated by MT4 in Q4 of 2020, while MT5 managed to have the rest. Further, MT4 dominated the entire market with around 66 percent of the market share at the close of 2020, while MT5 and other platforms closed at 12.7 percent and 21.3 percent, respectively.

Though these figures were only collected from a few brokers and do not represent the entire industry, they surely show the trend and inclination of traders.

“MT4 is a cult platform, and its release in 2005 was a breakthrough on the forex market; therefore, its successor, despite evident improvements, needed many years to match this success,” Karczewski added.

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MetaQuotes surely revealed the recent dominance of MT5, but that figure only for the companies using MT5, not the share of the executed trading volume.

Karczewski pointed out that many brokers are just supplementing their existing MT4 offering with the addition of the MT5 platform.

“Brokers who already have the MT4 platform do not transfer to MT5; instead, they purchase MT5 as a second platform to give their clients a choice.” This trend can be seen even with M4Markets, which offers trading services with both MT4 and MT5.

MT5 Will Replace MT4, but Slowly

But, the industry remains optimistic about the future of the MT5. The slow, yet definite, adoption can be anticipated from 7 million lines of code already written on MT5, while the figure only remained at 2 million for the previous version.

Andreas Kapsos, Managing Director at Match-Prime
Andreas Kapsos, Managing Director at Match-Prime

“Yes, currently MT4 is still popular among both old school and new traders; however, we believe that traders will move from it in the near future,” said Andreas C. Kapsos, Managing Director of Match-Prime Liquidity.

Also, with the terminated support and development of MT4, brokers and traders need to ultimately make the tough decision of changing to the updated platform. Further, MetaQuotes said that it is planning to bring ‘many important and useful updates’ on MT5, but MT4 will obviously be deprived of them.

“Although a lot of traders continue to use MT4 because of its familiarity and because it’s been around for so long, it has been the go-to platform for all of us. I expect that things will start changing, and more traders will opt for MT5 as brokers transition clients to it,” Jassal added.

Another trend pushing MT5 adoption is the broker’s rush to add additional trading services. Many brokers have recently started to offer stock and futures trading services along with usual CFDs trading.

Kapsos said: “The MT5 client interface is very similar to MT4, and it comes with additional features, so we strongly believe clients will slowly shift to a new platform and take advantage of all features. It was developed to attract traders by offering access to a multi-asset platform, whereas MT4 offers limited access to execute forex trades, CFDs and crypto. Therefore Metatrader 5 covers a broader audience of traders.”

But, the challenge still remains as it is difficult to change the traders’ psyche. The familiarity with MT4 has become a major resistance for a switch to a better-featured platform. However, the transition is imminent. “We are seeing exactly what MetaQuotes is seeing, a lot of our traders are transitioning to MT5 because it’s so much faster,” Jassal added.

Moreover, the market insiders are not surprised with the latest revelation of the MetaQuotes, as Kapsos thinks that “it is something expected and logical since the MT5 was designed to facilitate multi-asset trading, and better serve both traders and brokers.”

But the Question Still Remains: How Long?

“MetaQuotes has been striving to extinguish the MT4 platform for a long time,” Karczewski continued. “They have not been developing or supporting it for years, the sale of MT4 Servers has also ended, so this is a natural result of the adopted strategy. However, I can see several reasons why MT4 WL is still very popular.”

“First of all, the MT4 platform is much easier to manage, especially for a beginner broker. Second, even though the full MT5 Server cost starts from $5000, this basic package doesn’t include all the necessary features like a data feed or even a bridge to connect liquidity. So, despite the significant price reduction and making the MT5 server a lot more affordable, Brokers might still prefer the White Label solution – be it MT4 or MT5, as in most cases it already includes data feed, bridge and even CRM with payment gateway. All-in-one solutions are just more convenient.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.financemagnates.com/forex/analysis/mt5-will-phase-out-mt4-but-it-will-take-time/

Blockchain

Bitcoin Should Be In Every Portfolio, Says Mexico’s Third Richest Man

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The arrival of the death cross does not seem to scare Michael Saylor, who bought $500 million just when this terrifying pattern was forming. But Michael Saylor is not the only one who thinks so. Ricardo Salinas Pliego, the third richest man in Mexico, also believes that Bitcoin is an excellent investment.

During an interview with the director of Blockchain Land, José Rodríguez, Ricardo Salinas Pliego assured that Bitcoin is as solid an investment as gold. He explained that the debate about its nature is not so crucial for those who know its properties.

In my opinion, all the advantages that bitcoin has are enough to make the gold of the modern world … There is no point in discussing whether it is a currency or not.

There Will Be Only 21 Million Bitcoins, And That Is Key to Everything

Ricardo Salinas argues that the fact that Bitcoin is finite, easy to transport, and enjoys extreme liquidity internationally are compelling reasons to consider it as an asset worth taking into account when building an investment portfolio.

In fact, Salinas explains that from his point of view, every investor should own Bitcoin:

Bitcoin is an asset that has international value, which is traded with enormous liquidity worldwide. For that reason, it should be in any portfolio.

Ricardo Salinas is a vocal Bitcoiner. He was one of the first prominent Latin American businessmen to talk about Bitcoin and support it in social networks. He also revealed that 10% of his liquid investment portfolio was held in Bitcoin, which is obviously no small thing considering his fortune.


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But What About Altcoins?

But for now, it seems that Salinas’ relationship with Bitcoin admits no competition. When asked about the potential of Ethereum and other altcoins, Salinas was unconvinced that they can outperform Bitcoin.

Regarding Ethereum, he explained that its weakness lies in its inflationary nature.

The scarcity of Bitcoin, the 21 million, is the key to everything. That is why I mention Ethereum. Because as long as it does not have a finite amount of issuance, I will not believe them because they can issue more, and the asset depreciates.

The issue of the inflationary design of some currencies is of special importance to Ricardo Salinas. Latin American governments have abused the power to artificially issue money, which has damaged the purchasing power of the people in the long run.

Look, I started my professional career in 1981. Back then, the [Mexican] peso was 20 to 1 [dollar]. Today, on the other hand, we are at 20,000 to the dollar. And that’s here, in Mexico, but if we do it in Venezuela, Argentina or Zimbabwe, the figures lose all proportion.

As Bitcoin is a global and finite asset, it is safe from manipulation by any government, group of developers or centralizing power entities.

But there is always a little space for other projects. He said that Monero and Zcash are interesting because of the privacy that they offer.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/bitcoin-should-be-in-every-portfolio-says-mexico-third-richest-man/

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Ripple price flashes remarkable buy signals as technicals improve from the dip to $0.57

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  • Ripple price begins recovery after diving to $0.57.
  • The TD Sequential indicator presents a massive buy signal as buyers take their positions.
  • XRP aims at closing the day above $0.78 to set the precedence for the trajectory to $1.

Ripple slipped below May’s crucial support at $0.65 to trade a two-month low of $0.57. The selloff affected most crypto assets, starting with Bitcoin’s drop to $30,000.

When writing, the international money transfer token teeters at $0.62 amid a gradually building bullish momentum. Perhaps a daily close above $0.7 will call more buyers into the market upon Ripple regaining market stability.

How formidable are Ripple’s buy signals?

The TD Sequential indicator has recently flashed a buy signal on the 12-hour chart. This is a chart overlay tool that measures the volatility of an asset while tracking its trend. A buy signal forms in a red nine candlestick and implies that buyers get stronger as the bearish force fades.

On the other hand, a sell signal presents in a green nine candlestick, implying that selling pressure is about to balloon while bulls lose their grip. With a buy signal intact within the overall technical picture, massive gains are anticipated.

XRP/USD four-hour chart

XRP/USD price chart
XRP/USD price chart by Tradingview

The growing uptrend is reinforced by the Relative Strength Index (RSI), gaining momentum after leaving the oversold region. Action toward the midline will cement the growing bullish grip.

Subsequently, traders should watch for movements in the MACD. If the MACD line crosses above the signal line, the buy signal will be validated. Holding above the short-term support at $0.6 is crucial to sustaining the uptrend, while closing the day above $0.7 may bolster Ripple significantly upward.

Ripple intraday levels

Spot rate: $0.63

Trend: Bullish

Volatility: Growing

Resistance: $0.7

Support: $0.6 and $0.57

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

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Source: https://coingape.com/ripple-price-flashed-remarkable-buy-signals-as-technical-improve-from-the-dip-to-0-57/

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Blockchain

TA: Bitcoin Eyes Recovery, Here’s Why BTC Could Struggle Near $35K

Republished by Plato

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Bitcoin price extended its decline and tested the $31,500 zone against the US Dollar. BTC is now recovering losses, but it is likely to face sellers near $34,000 and $35,000.

  • Bitcoin remained in a bearish zone and it even broke the $32,000 support zone.
  • The price is now trading well below $35,000 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $35,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely to correct higher, but the bears could prevent gains above $35,000 in the near term.

Bitcoin Price Could Recover Losses

Bitcoin struggled to stay above the $33,000 zone and it extended its decline. BTC broke the $32,500 and $32,000 support levels to move further into a bearish zone.

The price even spiked below the $31,500 level and settled well below the 100 hourly simple moving average. It traded as low as $31,310 and it recently started an upside correction. Bitcoin is now back above the $32,000 and $32,500 resistance levels.

There was also a break above the 23.6% Fib retracement level of the recent drop from the $36,170 swing high to $31,310 low. An initial resistance on the upside is near the $33,800 level (the recent breakdown zone).

The 50% Fib retracement level of the recent drop from the $36,170 swing high to $31,310 low is also near $33,800. The main resistance is now forming near the $35,000 level and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $35,100 on the hourly chart of the BTC/USD pair.

Bitcoin Price

Source: BTCUSD on TradingView.com

Therefore, bitcoin bulls are likely to face a major resistance near the $35,000 zone and the 100 hourly SMA. The next major resistance on the upside sits at $36,200.

More Losses in BTC?

If bitcoin fails to clear the $33,800 resistance or the trend line resistance, it could continue to move down. An immediate support on the downside is near the $32,000 level.

The next major support is near the $31,500 level. A downside break below $31,500 could open the doors for more losses. In the stated case, the price might even test $30,000.

Technical indicators:

Hourly MACD – The MACD is slowly moving into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is struggling to clear the 50 level.

Major Support Levels – $32,000, followed by $31,500.

Major Resistance Levels – $33,800, $34,000 and $35,000.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/analysis/btc/bitcoin-btc-eyes-recovery-35k/

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