OANDA Japan Accelerates MT4 Retirement After Security Breaches
OANDA Securities has brought forward the retirement of its MetaTrader 4 (MT4) platform in Japan by two weeks, moving the termination date to November 14, 2026. The broker originally announced the shutdown in March but accelerated the timeline after recent security breaches and increasing cyber risks around external virtual private server (VPS) environments.
Concerns Over MT4
The decision follows unauthorised access involving Onamae.com Desktop Cloud, a VPS service operated by GMO Internet Group. Retail traders use the service to host MT4 and MT5 platforms. The breach possibly exposed up to 26,739 servers used by retail traders at several brokers. In response, major brokerages, including OANDA, issued urgent security alerts, restricted transactions on affected accounts and advised clients to change their passwords and enable two-factor authentication.
OANDA also raised concerns about MT4's ageing infrastructure. The broker explained that MetaQuotes had stopped providing official support and system maintenance for the platform. It has made it increasingly difficult for OANDA to meet current security requirements and continuing to operate MT4.
Migration to MT5
OANDA will automatically transfer remaining positions and balances from its MT4 Tokyo server to MT5 Standard Plan accounts between November 14 and 15. The broker has asked customers to create an MT5 account before the shutdown. However, OANDA will create one for customers who have not done so. Customers who only hold balances in their MT4 accounts should transfer their funds before the shutdown. OANDA will also provide a transfer option for any remaining balances. Customers using the MT4 NY server may keep trading via fxTrade or TradingView after MT4 access ends.
However, the migration comes with some limitations. OANDA clarified that MT4 Expert Advisors (EAs), indicators and templates will not work on MT5. So, customers will need to recreate their current trading setups on the new platform.
Google Authenticator MFA
OANDA Japan has also toughened its login security requirements. After an announcement on October 29, the broker made Google Authenticator-based multi-factor authentication (MFA) mandatory for MT5 logins from October 31. The measure introduces one-time password (OTP) verification to amplify account security following the VPS hosting incident.
However, OANDA has clarified that its security measures do not extend to third-party VPS environments. Customers who use external VPS services stay responsible for securing those environments themselves.
About OANDA
OANDA offers multi-asset trading services for forex and CFD trading. They provide multiple currency pairs, commodities, and indices. OANDA connects advanced trading technology with transparent pricing and customer-focused service. OANDA secured approvals for its new European subsidiary based in Malta, named ‘OANDA Europe Markets’ (OEM). OANDA wants to ensure compliance with regional regulatory frameworks.
Wrapping Up
OANDA Japan's accelerated MT4 retirement shows growing security concerns surrounding legacy trading platforms and external VPS services. The broker is moving customers to MT5 and introducing mandatory MFA to intensify login security. However, customers will need to prepare for the migration, particularly if they rely on MT4-specific trading tools and setups.
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