MT Expert Advisors are obsolete
For years, MetaTrader has reigned as the primary trading platform, leading many Introducing Brokers (IBs) to employ Expert Advisors (EAs) for client acquisition. However, as the financial landscape evolves, it’s becoming increasingly evident that this traditional approach is losing its effectiveness.
The utilization of EAs introduces a myriad of challenges for clients. First, clients need a specific skill set to navigate MetaTrader – from installing the EA to launching it, a process far from intuitive. Additionally, sustaining continuous EA operation requires the rental of a Virtual Private Server (VPS), adding complexities like VPS setup and configuring auto-restart after VPS reboots.
Expecting new clients to possess the technical proficiency required for this intricate process is unrealistic. The complex nature of EA usage contributes to a significant drop-off rate among potential clients, hindering the success of this once-standard approach.
Enter cTrader, a platform beloved for its simplicity and modern UI. Here, trading robots take the form of cBots. In stark contrast to MetaTrader, the process of installing and launching a cBot in cTrader is a breeze – a simple click on the algo file initiates the cBot. Moreover, cTrader allows users to run cBots in the cloud, eliminating the need for a VPS and further simplifying the entire process.
The ea-to-cbot-bridge emerges as a pivotal tool for IBs aiming to leverage effective EAs for client acquisition while streamlining the process. This innovative bridge allows IBs to run EAs on a hidden VPS, while clients receive cBot files that replicate the EA’s trades. For them, the cBot appears as a self-sufficient trading robot.
The landscape of client acquisition in the brokerage industry is rapidly evolving. Relying solely on EAs within MetaTrader is an outdated strategy that poses significant challenges for both IBs and potential clients. Transitioning to cTrader and incorporating the ea-to-cbot-bridge not only simplifies the process for clients but also positions IBs to thrive in a market that values user-friendly experiences and efficient onboarding. It’s time for Introducing Brokers to adapt to the changing tides and explore innovative solutions for sustainable growth.
