Hi Folks.

So, a few days ago I shared a message with you I received from EnviFX (one of my brokers) saying they learned from MetaQuotes that support for MT4 would cease in 6 months (no specific date was given so figure sometime in March or early April).

That is bad news for MT4 traders.

Then Monday my friend Allen shared an email he received from Hugo’s Way (apparently my email got shot into cyberspace) saying MetaQuotes had SUSPENDED Hugo’s ability to use MT4 because Hugo’s migration to the new CRM system was taking too long and there had been too many complaints filed with MetaQuotes regarding this delay.

As I told Allen, most of my early years were spent living in a variety of rural areas and the kids I hung out with were all farm kids.  So, I got a pretty good education on the subject of barnyard aromas, and I can tell you without hesitation…

The odor emanating from this email smells suspiciously like bovine excrement.

Hugo has been in business for 5 or 6 years that I am aware of and has been a solid stream of income for MetaQuotes during that time.  I have serious doubts that they would “suspend” Hugo’s ability to continue offering the MT4 platform over the complaints of a few people who failed to read any of the emails Hugo sent out warning about the possible disruption.

My suspicions are further heightened because in that same email, Hugo announced THEY WERE NOW OFFERING A BRAND-NEW PLATFORM CALLED TICK TRADER.  This announcement comes after they responded to my customer service request for information on their timeline for switching to MT5, given the expiry date that seems to be attached to MT4 (and for the record, they responded that they had no intention of switching to MT5).

And finally, EnviFX has been going through an identical CRM switch and has been encountering multiple unexpected roadblocks that have disrupted their ability to keep MT4 running smoothly, but MetaQuotes has done nothing to them or their ability to offer MT4 to their clients.

So, like I said, bovine excrement.

What likely happened is Hugo grew tired of paying fees to MetaQuotes and simply broke their contract and left MetaQuotes behind in favor of the allegedly greener pastures offered by Tick Trader.

That they are moving to a new platform that will not accept any of the custom indicators or expert advisors virtually ALL of their customers rely upon for trading means Hugo is likely to see a significant drop in profits in the coming months.

And by significant drop, I mean most if not all of their retail traders, even the ones in the US who have limited options, are going to adios Hugo and move somewhere else where their indicators and EAs remain viable.

Frankly, if I owned stock in Hugo, I’d sell it today.

This likely signals the end of my relationship with Hugo’s Way, who to their credit has been a very good broker up to this point. I will stand by and see if they resurrect their relationship with MetaQuotes long enough to bring MT4 back to life for the remaining time that platform has.  But I am not optimistic.

So, this looks like another nail in the coffin of MT4 (and Hugo’s Way, for that matter) and if you’ve been putting off picking up my MT5 Conversion Package, you might want to think about grabbing a copy while you still can for just $79.  The page is still located at http://fxscalpingacademy.com/mt5package but I do believe with MT4 picking up speed as it heads towards its inevitable demise, I will likely be switching that page into a standalone website, along with a substantial price increase in the coming days.

So don’t put this off any longer.  Grab your MT5 Conversion today.

Jeff