CMC announces an abrupt change of plan as it introduces MT4 and 5 trading solutions.
From a tech geek’s point of view it’s a bit like Dylan going electric. CMC markets has been famously dismissive of MT4 and 5, but all that appears to be changing. Among other things, its recently released financial report for the 2018 fiscal year announced that it would be adopting MT4 and 5 solutions.
A while ago we covered what makes MT4 one of the World’s most popular trading platforms…
Change of tack for CMC Markets offering MT4
Most other spread betting and CFD brokers including IG, ETX Capital, Core Spreads and XTB have offered MT4 for a while (you can compare MT4 brokers here). Spreadex, is one of the well established brokers to still offer only it’s own proprietory trading platform.
Until now CMC has stayed away from the MT4 platform, preferring instead to go with its own specially designed software. Indeed, it recently announced an upgrade in the form of CMC Pro to appeal to its high-end clients.
The decision comes, says CMC, is an attempt to meet the demands of new and existing clients. However, it may also be partly due to new regulatory changes. The annual report says the move will take advantage of the new regulatory climate, by which it means the arrival of ESMA’s regulatory clampdown.
While large trading platforms such as CMC appear relatively untroubled by the new framework, the same may not be true of other smaller operators across Europe. If many of these cease to operate, there could be a chance for CMC to mop up some of their clients with solutions which use software which is accessible and familiar.
Nevertheless the move represents a change of attitude away from its own proprietary platforms.
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Tom Cropper is a financial journalist with work which has appeared in titles such as the Guardian, Euromoney and many others.