Does anyone know exactly what it costs for brokers to supply clients with MT4 or even MT5? Is it a per person charge? And does the price vary by broker?
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Does anyone know exactly what it costs for brokers to supply clients with MT4 or even MT5? Is it a per person charge? And does the price vary by broker?
Exactly what does it matter?Quote:
Originally Posted by ;
Someone I know is considering starting up a bucket shop.
I spoke to someone in charge of a brokerage about the specific same topic (not because I want to found or run a brokerage myself, but instead because I am curious).
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Originally Posted by ;
Thanks for the info. I discovered some more information and searched for server cost. You can do one of 2 things:Quote:
Originally Posted by ;
1. Buy an MT4 server permit for $100,000.
2. Buy an MT4 White Label for a fraction of the cost and it comes somewhat integrated so it's possible to automate the offsetting of your clients' risk. So, how I know it is that the White Label is MT4 infrastructure around it connections with liquidity so that you can offset your risk etc..
More queries. Would I then have the ability to buy a $100K permit, make my own white label infrastructure and then sell the white label to a number of brokers? And why then would anyone visit Metaquotes and buy MT4 for $100K instead of merely getting the white label?
Additionally, does anyone have more info on labels?
I guess I'll come out with it. We are considering creating a rival to MT4. Why? Since MT4 has a steep learning curve that many retail traders cannot get over. And moreover, it's pretty buggy. I'm a quant (maybe not a wannabe, but a real quant using a quant job) and even for me it took some time to figure out how to utilize MT4. I can only imagine how frued a lot of the retail traders should be, trying to figure out how to utilize MT4.
Would anybody that has a good working understanding of MT4 be interested in speaking to me? Or maybe you can be the voice of reason and tell us how stupid we are to even think about something like this?
This market is already crowded. Sounds like a silly idea to sink time/money right into this. You are somewhat 10 years late to the party. .
What else is out there that competes with MT4? Nothing that I can think of is utilized by multiple brokers. And the only reason people want MT4 is so they can program their own EAs. MT4 is at a fairly sweet place and they have gotten very complacent. Seems to me they are simply asking to be picked off. What am I overlooking here?Quote:
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I really don't know exactly the price but I can say it's very large since a broker can make million annually using it so a large investment in early is needed. And there's a company called MetaQuotes, they are the writer of MT4/MT5 platform and MQL coding. And I believe it changes because of the scale of this broker.
Yes, it is a bad piece of software for retail traders: it is old, designed to scam them, and linking them down to MetaQuotes' capriciousness.Quote:
Originally Posted by ;
Thus, the obvious thing to do is to get rid of it asap.
It's only in use because of retail traders' irrationality and because it is excellent for brokers.
However, what I do not get is which section of mt4 are you referring to as has a steep learning curve - mql or even the gui? In my opinion it is very, very easy - if you do not figure it out (gui or even mql) in a blink of an eye you likely should not be involved in this company anyway (or any company that needs a particular level of abstract thinking).
So, I would say the only reason to ditch mt4 is because it puts to many restrictions on developers (and of course because you need to pay for it) rather than because it is too steep to understand. .
And, the fantastic thing is, you do not have to substitute mt4 using a similar software; all there was needed was a means to link to the transaction server; so you would want to create either a communiion protocol or even a standalone api (interconnector) to facilitate a client's terminal to connect to the trading server - that is all. There would be are readymade open source terminals to use - or you would create their very own.