Mql5 Market Sucks! A Solution is Coming!

This past several weeks have been quite trying for all of the developers that sell their products through the Mql5 Market as well as those ‘freelance’ coders that do jobs for traders that need products ‘tweaked’ or completely created for them. The problem you ask? We couldn’t get paid!!!

In typical Metaquotes fashion they decided to make significant changes to their payment systems without first considering how it would affect those using that system. They did not first inform those people paying for services or those trying to withdraw payment for services from their Metaquotes account. This has been ongoing for weeks! https://www.mql5.com/en/forum/322383
https://www.mql5.com/en/forum/320471
We were simply told…

“We are in process of reconfiguration of payment system providers.”

Needless to say, having thousands of dollars in an account which I have no way of retrieving without paypal and having many purchases of my products done through paypal. Makes the absence of paypal a monumental problem for a business model! For the other countries it was WebMoney that dissappeared.

I am happy to say that the paypal option was restored a few days ago. Webmoney on the other hand will never return. There are still some developers in lands that have no option yet to get their hard earned money from Metaquotes.

It is my opinion that… Any other professionally managed globally known corporate entity would have FIRST put a new fully tested payment system in place and THEN notified the users of a transition coming on a certain future date.

The poor handling of this matter by Metaquotes has dealt a severe blow to the faith and confidence that myself and others had in Metaquotes as a reputable and responsible company. Certainly NOT a company i want to have in charge of my products and money.

This has led me to look for an alternative way to securely market my products. Of course the whole purpose of using the Mql5 market was to have a secure way of selling software while controlling it’s distribution. Metaquotes system recorded the combination of the machineID and Operating System of each activation and only allowed as many such activations as the seller prescribed. Still it is a challenge to get a product tested and approved by metaquotes before they will put it in the market. Sometimes taking months.

I am happy to say that I think I have found a solution. As developers we are looking for ways to perhaps offer a demo version of our product that will expire in a few days or only work on demo accounts. Or perhaps only on certain pairs, accounts or community login IDs. We need a way to provide our script, indicator or expert along with a product key that will allow the user to only unlock the features that we dictate.

Later on if the prospective client decides to purchase the product we only need to send him an updated key to unlock all of the features upon payment. Of course in order to prevent the purchaser from sharing the product along with the key, it would be wise to lock that product to only a certain account or id. I have a developer working on doing exactly that.

Or perhaps you have a product in the mql5 market which is available on a subscription basis only. Providing you a revenue stream each month. For that purpose you would really need a web portal to manage your subscriptions and keys. A way to ‘turn off’ the software remotely when the subscription expires.

Perhaps you can have different levels of subscription to the same product. Enable more pairs to trade… live accounts instead of just demo accounts. Add additional account numbers that can use the software.

You need a web portal/dashboard that will allow you to see how many different ip addresses are using the same key and helping you know if your key has been shared.

Get excited guys, a solution is in the works. The developer is working hard on this product to include these features that I have suggested. Stay tuned for more to come soon!

Full Disclosure: My only part in this is to help him develop his product and then provide me with an affiliate link so that I can send coders and developers to him. I think this is going to be what we’ve been looking for guys!.
Pip Pip…Jimdandy