MetaQuotes Software, the developer of the most popular retail forex trading platform MetaTrader 4 (MT4), continues to hike support fees for the platform in an attempt to promote its successor MetaTrader 5 (MT5).
According to publications of the Finance Magnates site, MetaQuotes has sent its clients a letter informing them that it is raising the monthly technical support fees for every additional MT4 server by about one third.
As per the letter, the new pricing will be applicable for new orders for additional MT4 servers and the activation of inactive servers. The monthly payments for technical support of the already activated servers will remain the same.
The news comes only days after MetaQuotes told its clients it is also raising the monthly support fees for MT4. At the same time, the support prices for MT5 are remaining the same and the number or brokers offering the newer trading platform has already surpassed 100.
Calculations of the Finance Magnates show that currently the MT4 license costs USD 100 000, while that for MT5 stands at USD 25 000.
It appears that the price hikes are the next step of MetaQuotes to promote MT5 after it spent years in the shadow of MT4. With the introduction of the hedging option for MT5 this spring, however, the developer has started pushing hard for MT5. In November the company announced it will no longer be issuing updates for MT4 and will turn its development efforts entirely to its successor.
MT4 is used by hundreds of retail forex brokers, both small and big like FXCM, Forex.com, XM, FxPro, Oanda, IG Group, XTB, Saxo Bank, Alpari, Monex, Admiral Markets, etc.