Feb 7, 2014
MT4 Build 600 – What’s new, why nothing works anymore and why you should not update it!
MetaQuotes has just released an update for MT4 which is actually more like an upgrade to MT5. Since many brokers and traders were against upgrading to MT5, what they did was include all the features from MT5 and forced them in to the new update of MT4.
On this blog post we will go over the problematic new features, how to stop the MT4 from updating automatically, how to downgrade MT4 to build 509 and how you should complain about the changes if you are not happy.
We took some screen shots from different forums and added them to the post so you can see what people are saying before the post gets deleted/censored by MetaQuotes. (They are very good in deleting and bulling web sites that have any negative reviews about them).
For example our videos on YouTube, “4xGuardian” and “4xSentinel” which they try to bring down all the time by complaining, but since we are doing nothing wrong YouTube puts it back online right away.
Here are a few screenshot of what trades are saying on forums:
These are some of the new features that will give major problems to most users, including breaking thousands of indicators and expert advisors which is one of the biggest problems.
- Drop support for old processor “All client terminal components require support for SSE2 instruction set by PC’s processor for efficient operation and high performance.” . This means that if you had some older machines running MT4 on Live accounts or just doing Demo forward testing, after the “update” they just crash and stops working. The forums are full of people complaining about this issue, here is a screen shoot of a Chinese user error message.
Thousands of Experts and Indicators will no longer work.
Back testing is 20x slower, the forum are full of complains about the back testing performance.
Some Antivirus are blocking the mql.dll as a Virus, we would too.
Updates deletes you set files, set files are configuration files you can apply to charts with indicator and expert settings.
- DLL’s no longer work, they change the encoding from ASCII to UTF8 now you can’t use your old DLL.
MetaEditor does not support for script characters, bad if you are Chinese, Japanese etc.
Some reports of the new version uses 3.5 Gig of disk space, this could be disastrous for people running on a small VPS.
- The folder structure is totally different, if your expert is looking for a file on a specific folder for the logs or other data it will not find it.
The list of problems is enormous and growing as we speak many technical changes that non-programmers are interest in it, but make updating the indicators and expert advisors is very difficult on large projects like ours.
Our recommendation is that you do not update to build 600, but this is up to every trader.
For those of you who do not wish to update to build 600, here are the instructions of how to stop the automatic update.
How to avoid MT4 from automatically updating itself:
Find “webinstall” folder (usually located in C:\ProgramData\Metaquotes) and rename/delete it.
Deny access for the system user on the MetaQuotes folder. To do this, right click on the MetaQuotes folder > click Properties > click Security tab > click System > under “group or user names” > check “deny” in lower box > click apply/OK
More info on this blog post:
For those of you that were forced to update, here is how to go back to build 509, more post like these will be available on the next few days.
Here are the files of MetaTrader 4 build 509 for you to download:
Metaquotes created a new version af Metatrader Termianal called MT5 and it had very little adoption by Brokers and much less from traders but now Metaquotes decided to push all those unwanted features into MT4 and force you to use it, breaking 8 years of Indicators and expert advisors some trades have accumulated in the past. This is just a slap in the face on all MetaTrader users.
This “updated” has caused real financial losses to many trades today, if MetaQuotes does not roll back this changes we can see law suits being filed.
I’m sure there must be a new and improved Virtual Dealer plugin for build 600, this update reminds us that MetaQuote’s customers are the brokers, not us, the traders.
You should contact your broker and also contact Metaquotes CEO and let him know what you think of the new MT4 update.
Renat Fatkhullin: LinkedIn
CEO MetaQuotes Software Corp.