Axe Trader Adds MetaTrader
In the prop trading industry, the choice of platforms offered to retail clients is crucial. Despite numerous alternatives, MetaTrader remains the most popular option. Recognizing this, prop firm Axe Trader has decided to add MetaQuotes' solutions to its list of available products, bringing its total client platforms to four.
Previously, Axe Trader's clients could trade using cTrader, Match-Trader, and DXtrade. However, customers have been consistently requesting MetaTrader, which has long been the dominant platform among retail investors.
This week, Axe Trader responded to client feedback by expanding its offerings to include MT4 and MT5.
Axe Trader stated on Discord: "We're excited to announce that our traders can now trade on MetaTrader 4 and 5."
While Axe Trader isn't the largest player in the prop trading space, it now boasts one of the widest selections of platforms.
Support representatives on the official Discord channel confirmed that this isn't a reintroduction of MetaQuotes platforms, but rather their debut. These tools were not previously available to Axe Trader investors.
Yenjikag from Axe's customer service team stated: "This is a new update we've just rolled out."
MetaTrader at the Center of Prop Trading Turmoil
MetaTrader's importance to the prop trading industry was highlighted in February when MetaQuotes began terminating agreements with brokers and trading firms serving this sector, due to concerns about regulatory changes in the US.
This caused significant disruption in the industry, hindering new user registrations and prompting the search for alternative trading platforms.
It also created opportunities for forex/CFD brokers, who increasingly joined the prop trading ecosystem, offering investors regulated and secure alternatives along with MT platforms.
While the February controversy seems to have settled, the industry is still undergoing significant changes. Just days ago, one of the industry's more popular companies, Funded Engineer, announced the end of its operations. Meanwhile, Goat Funded Trader decided to stop offering MetaTrader for unclear reasons, just a month after restoring access to the platform.
Regulators are also paying increasing attention to the industry, suggesting that prop trading poses significant risks to retail clients, with the Italian regulator Consob even comparing this form of trading to "video games."
Reference:Another Prop Firm Expands Platform Offerings with MetaTrader