Hi Folks.
For those of you who are Hugo’s Way and/or Envi FX customers, you already know this week both brokers underwent a complete migration onto a new CRM system (how they operate their back offices) and my sources tell me plenty more brokers are about to undergo the same switch over the next few weeks.
The reason this matters was something Envi FX included in one of the emails they sent out to keep their customers apprised of their progress during the migration.
This is a direct quote from their email:
“We’d like to inform you that MetaQuotes has confirmed its commitment to supporting MT4 for a maximum of six months more. This means that a significant migration to MT5 is imminent, and MT4 will soon see its final days.” (emphasis mine)
Earlier in that same letter they referenced the demise of the MT4 Mobile App, but nowhere in this paragraph do they reference back to that earlier statement.
Does this mean the end of MT4 is actually on the horizon?
Maybe yes, maybe no.
But be prepared to make the switch to MT5 at some point because in other documents and articles found a cross the web and in their own press releases, MetaQuotes makes it crystal clear that MT4 has gone as far as they are going to take it and the cost and time it takes to keep MT4 running up to speed is no longer profitable for them.
So the change is coming, and according to one of my brokers, we could see that change in as little as 6 months.
Now, what does that mean to you, the trader caught in the middle?
Two things.
First, if you have any custom indicators you like using on MT4, you need to reach out to the person who created those indicators and ask if they are going to release the MT5 version any time soon.
Second, if you have been following me for a while, then you likely already know I started moving most of my software over to MT5 more than a year ago, in anticipation of MT4 becoming a dead platform. I put those indicators into a single package you can view at http://fxscalpingacademy.com/mt5package
The software in that package includes the indicators BBSniper, FiboPiv2, MACDTrue, RenkoShadowAmp, Renko-SignalAM, S-Factor and the Slope Direction Line, and the Expert Advisors Renko2Offline (a Renko Chart Generator), ChartTrader v2.0, and Forex AutoScaler.
There is an additional Bonus Package I threw in which includes the MT4 software for trading the Shadow-Signal method, along with a PDF which walks you through all the steps for setup and trading (the software for the MT5 version of Shadow-Signal is included above in the MT5 indicators).
This entire package is still available for just $79 and you can pick it up and be ready for the impending death of MT4 at http://fxscalpingacademy.com/mt5package
Just FYI, all my newer software which is available at http://fxgoldminer.com includes both MT4 and MT5 software, which is why the MT5 software for PV2 is not included in the package.
So keep an eye out for any news from your current broker concerning their future with MT4 and any plans they have to move their client base over to MT5. That news will likely be coming sooner rather than later.
Jeff
