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MetaQuotes/MetaTrader. The Legal Framework Behind The Argument. White Labels, Who is To Blame? MQ or the Illegal Broker?


I have wrestled with this very question many times as the question can be considered in the following Metaphor. If a man bought a gun and killed someone, who is to blame? The shopkeeper or the customer? In the same way, we can consider the whitelabel licenses from MetaQuotes. MetaQuotes hand their software out to white label customers, (illegal brokers usually) are MQ to blame if the brokers misuse it and aim MT4 at victims to fraud people? We can discuss the ethics later, but lets deal with the legalities first before we delve into the murky world of business ethics.

It’s an interesting question, one that requires careful consideration before we march forward with a possible legal challenge to MetaQuotes it is fruitless if there is no strategy in place to do so. The charges are these and our legal advisors might chastise me for giving away our strategy but the charges will be made public in due course anyway.

So back to the original question, if a man buys the gun and kills someone, who is to blame? The shopkeeper or customer? Overwhelmingly the answer would be the customer. So, with that in mind does that mean our legal challenge against MetaQuotes is over, because in the same way MetaQuotes can’t be blamed how illegal brokers use their software to fraud millions from unsuspecting victims? No, it doesn’t, and here is why.

The customer doesn’t actually need to gun to commit the crime of murder. The gun just gives the person another option to commit the act. The same cant be said of illegal brokers who can ONLY use MetaQuotes MetaTrader to legitimise themselves and fool people into thinking they are using a fully licensed broker. The MetaQuotes software gives criminals the means to do the crime, without it, the illegal brokers have no way to legitimise themselves. Sure the brokers could still perpetuate fraud in other ways, but this is not specific, we are talking about being able to use and manipulate a piece of software that commits fraud here. Sure, illegal brokers could attempt different types of fraud, but this is not specific to this issue of being to use a software to commit acts of fraud relating to trading FOREX products. Every victim we speak to all state unequivocally, that without being shown the MetaQuotes software which can be easily tracked back to an established company, (I refuse to state reputable) they felt at ease putting money into their (fake) MT4 accounts.

What victims don’t know is that there are MT4 software plugins that black industry brokers use to fraud people with. The question is could MetaQuotes prevent the plugins from being implemented and stop this from happening? A question MQ need to answer in court as the case of criminal conspiracy hots up.

So, we are just a small company taking on a global company. The odds are overwhelmingly against us, but as we talk to more people we gain more evidence of the harmful effects that MQ are having on the world. For HLT LTD, we can also throw in loss of earnings and other charges and damages. But lets come back to this after we look at MetaQuotes terms and conditions because MetaQuotes Ltd. as a technology provider for the fake brokers is not only ignoring the victims' voices, but they also ignore their owns rules.

See "Rules of Using the Virtual Hosting Service"

VIII. Termination of Service without Prior Notice in Case of Serious Violations of Terms of Use
"MetaQuotes Ltd reserves the right to permanetly terminate the service without prior notice, resulting in immediate and permanet account block in case your actions seriously violate the Rules, according to MetaQuotes Ltd."

Metaquotes need to respond to this by telling the world how many times they terminated the service for violations as of June 2022.

Examples: Nr.1 Nr. 4 and Nr. 8

1. Any actions that threaten the operation of the service for other Users.

4. Development or use of means for fraud, modifiers, hacking tools, as well as any other third-party software to modify the Virtual Hosting service operation.

8. Using a Virtual terminal to access, copy, transfer, transcode or retransmit Signals in violation of any law or third-party rights.

By this time they should know that the " Hosters " are part of the " Black Industry Chain ", whose activites are against the law and threaten personal properties, but MQ don’t care, because they are profiting too much from the black industry.

Is full of people who have been scammed because of MQ. Also read global anti scams well written article as the indictments against MQ grow and grow. 

Lets go back now to the charges myself and others are stacking up against MQ. This list if not exhaustive as more will be added.

1. Neglect of service for not shutting down their service to illegal entities as described in their own conditions.
2. Damages amounting significant loss of earnings for myself and the millions of victims around the globe.
3. Damages for unnecessary mental and physical stress of myself victims around the world.
4. None compliance with their own regulations. (clearly their Ts and Cs are there for show)
5. Ongoing support of illegal brokers amounting to and not excluding potential criminal conspiracy, by continuing to program software that can be subverted for illicit means.
6. Corporate neglect for not having sufficient audit processes in place to weed out some of the black brokers.
7. Indirect fraud – By giving others the means to carry out financial fraud and not complete impotence when confronted by evidence. 
8. Ongoing corporate neglect for not doing anything to support victims or even answer an email on this matter.
9. Public neglect by not shutting down illegal operators when alerted to overwhelming evidence of financial fraud against the people around the globe and continuing to ignore the harmful effects their white label license is having, as people are living with significant debt, considering suicide, losing their house wife and families. 

So how have MQ responded to me protesting against them? In true MQ policy and in keeping with their own stance they ignore me, the victims and the issue at hand. Every MQ employee I have connected with on social media have blocked me so they don’t have to see my posts. Easy enough circumvent, watch this space.

Rather amusingly, I was contacted by a Mr Boullra. These are his posts. Firstly,
Mr Boullra attempted to intimidate me, by sending a legal writ. Mr Boullra
claims he has nothing to do with MQ he is just has a company called MT4 software,
hmmm. For my sins, by mistake, I linked to this entity thinking this was an MQ page.
Mr Boullra advised it wasn’t. I have now removed this link from my Linkdln profile.
Please accept my sincere apologies for thinking MT4 software was some how linked
to MQ. (Sarcasm intended.)

When I knocked back his advances, I asked him directly what he thought about the
whitelabel licenses knowing full well Mr Boullra would not answer this direct question,
as expected he didn’t. I cant help but wonder therefore where his loyalties really are,
most people are outraged on finding out that people are getting frauded illegally.

I politely responded to all Mr Boullra comments. I was not aggressive in my tone 
Just matter of fact. When I told Mr Boullra about similar legal entanglements and I 
was unmoved by his advances he went completely over the edge.

It is our thinking that Mr Boullra was asked by his cronies at MQ to warn us off MQ,
using the argument in the first paragraph, I thank Mr Boullra here because even though
I had considered this same question many times, it was only after his goading that I
finally had the impetus to consider the legal strategy as described above.

Finally Mr Boullra threatened me again stating that I am not me, my photo is fake,
and I am not in UK or even British. (Odd that he then threatened to report the UK
RCA after stating I wasn’t British, , I expected soft engineers from the aerospace
industry to be smarter.) I later went onto Twitter and posted a photo holding up a
sign saying “to Mr Boullra.”

Mr Boullra goes onto to indict me saying I am not being professional. Well, how does
sending a legal notice on social media for sound for professionalism.  To round off the 
exchange, Mr Boullra sends snippet from the FCA that shows guidance on misleading
adverts for financial gain. I think Mr Boullra is confused somewhat because nowhere 
on my website do I make misleading comments or have adverts for financial gain, when
I pointed that out Mr Boullra became frustrated and blocked me. It seems desperate to 
go after me like this, but we are totally happy with the FCA viewing our website because
we are comfortable where our ethics are at and we think the FCA will see this.

The fact is, I am real, I don’t hide, I have had video chats with people on LinkedIn about
business related matters. I am as real as it gets, I am not hiding, I'm upfront, in your face
protesting against scammers, fraud and all of things the RCA also stands for. Both HLT Ltd and HLT Non-Profit Organisations are registered in the UK. It is our intention to start a charity to help victims of the MT4 scams brokers that MQ support, and once our charity trustees are selected, we will move on to gaining our application to the charity commission here in the UK. As yet, we haven’t taken any donations or asked for any and  if we do, we will advise people that we are not yet registered as charity, but under UK law we are allowed to organise activities and events providing we advise people that we are a new charity awaiting commission registration, when we do activities, we will post the amount of funds raised, and deposited into the bank account we have also registered for non-profit funds. 

Mr Boullra before blocking me on LinkedIn accused me of affecting his reputation through my website. I have closely analysed all our articles and not anywhere have I used the term MT4 software in conjunction with him. Therefore his claims that we are ruining his reputation do not have valid grounds, I have today contacted Mr Boullra by email requesting he offer evidence of where I have ruined his reputations and to what extent this effect has had on his life. I promise to post any response from Mr Boullra on our website.

Before blocking me, Mr Boullra threatened to report me to Linkedln, Twitter and the RCA. I hope he does, because the RCA can see from our website what we stand for. We support SEEK, who advocate transparency in the Crypto space, we support vetted projects, we have affiliated with Axi a regulated broker, Kraken a regulated exchange.

At the moment we are nothing more than an irritant, a passing phase they are hoping will get over his animosity, but the truth is we are invested in this fight now and things are starting to hot up.

So what about business ethics??? I know, lets save this for another day and have a look at a number of comparable businesses their practices and compare them to MetaQuotes. My guess is that MQ aren't even audited. 

By Gareth Hatton (Yes me, of the UK, British citizen.)


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