If this reason proves to be true, Apple will be facing very hard controversy as they would’ve gotten rid of their competition the easy way instead of working hard to make their application the top choice. This would put Apple in a bad spotlight where it would be judged by everyone.
By implementing this kind of connection, Apple will also make sure that the apps are only available for download in the countries where the broker is licensed to operate legally. Apple is likely to ask MetaQuotes to adhere to some of their guidelines in order to assure that the user experience remains safe from fraud (more about this in the next section), and will then allow their applications back on its listings. However, when looking at the Apple Store right now, we can see an abundance of betting applications available for download. MetaTrader enables scammers to show victims fake earnings, a key element of a pig butchering scam. Apple is showing full support to Ukraine by removing all applications from the AppStore with ties to Russia. While this may seem like an act that is not going to cause any major impact on Russia, it is actually going to cost Russia millions of dollars in revenue lost in failed sales.
MetaQuotes held no responsibility
MT4 and MT5 are such incredibly popular forex trading platforms that any hint of disruption can be a bit of a scare. Some were worried that Apple’s decision was just the beginning and forex brokers may cease their partnerships with MetaQuotes. This didn’t happen, however, although many brokers did look to add other platform options.
Nonetheless, white-label brokers provide customized versions to their clients. As a result, Apple has taken steps to delete both the bogus and original apps. Another sore point that could have caused this so drastic measure by Apple concerns the massive presence in the Store of “bogus” applications that were passed off as MetaTrader 4 and MetaTrader 5 (MT4 and MT5). In addition to this, Apple to contribute to the sanctioning maneuver implemented by the Western states, has proceeded to block the sale of all products and the suspension of any financial service, including ApplePay. According to reliable sources, the cancellation of MetaQuotes apps was caused by the strong friction between Western countries and Russia.
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Being by far the most used trading platforms in the world and offered for trading by thousands of online brokers, you will have to find the most solution. Another possible reason put forth is based on another recent Apple trend, of removing apps for which Apple has received a certain amount of complaints, either regarding the apps themselves or how they are used. Regarding the reasons that Apple removed MT4 and MT5, there has been much speculation being discussed online over the past number of hours, with much of the discussion centering on Apple removing other apps with ties to Russia.
MetaQuotes is based in Cyprus, but originated in Russia where it was founded by current CEO Renat Fatkhullin. This lead many to believe that sanctions against Russia were Apple’s principal reason. The apps were pulled down on the aforementioned date, the software development company noted. We would like to remind you that the cancellation will not affect the trading of the apps previously installed on the IOS devices but by doing an update they will automatically be rendered unusable. The web platform allows you to open and close positions without downloading any software.
Should MT4 Have Been Removed from AppStore?
MetaQuotes Software Corp., creator of the MT4 and MT5 platforms, is a Russian software company with offshore registration in Cyprus. Apple overnight, despite everyone being unaware of what was happening, has provided for the definitive cancellation of the trading apps MetaTrader 4 and MetaTrader 5 (MT4 and MT5) from the App Store. It’s highly customisable, enabling brokers
to offer their clients a complete fully branded platform and multi-asset
trading experience. The impact will really be
felt over the longer term if brokers can no longer offer the platforms to new
clients. Everyone knows that the FX trading sector is full of scammers and fraudsters, with numerous scam call centers operating out of Cyprus, Ukraine, Romania, Bulgaria, Serbia, Moldova, and many other places.
- Alternatively, MetaQuotes’ trading apps remain banned from the Apple Store, and perhaps soon even from Google Play too, and this way brokers will be forced to adopt more advanced and more appealing trading software like cTrader.
- At the same time, brokers that have proprietary trading solutions (e.g. eToro, Plus500) experience no interruptions at all.
- Please note, Australian residents cannot open an account with ACY Capital Australia LLC.
- It goes without saying that the importance of mobile traffic and mobile trading cannot be underestimated in 2022.
- This is in protest of the recent inhumane war that Russia is carrying out in Ukraine.
Alternatively, MetaQuotes’ trading apps remain banned from the Apple Store, and perhaps soon even from Google Play too, and this way brokers will be forced to adopt more advanced and more appealing trading software like cTrader. This would bring in a better sense of competition to the retail FX sector, and hopefully more innovation will follow. Now, it might actually be a great opportunity for brokers to finally negotiate from a stronger position and integrate additional trading platforms, so ending MetaQuotes’ dominance over the retail FX trading industry. While this theory is not that popular, it is still a very good possibility. Apple could be slowly removing all the top trading platforms like Meta Trader 4 and Meta Trader 5 from its AppStore because it could have plans to release its own trading platform specifically for Apple users. For a five month period starting in September 2022, neither MT4 or MT5 were available in the App Store.
Apple removes MetaTrader MT4 & MT5 from App Store
On September 24, 2022, it was announced that Apple has terminated its listing of MetaQuotes’ trading applications – both MetaTrader 4 and MetaTrader 5. At the time of writing, both MetaTrader apps are still available on the Google Play Store. In this article we will not be focusing on the story of the ban itself, but rather analyzing the most plausible reasons for it and forecast a few potential scenarios for the brokers implementing these platforms. As Forbes previously reported, MetaTrader, which offers licenses for its software, does enable legitimate trade by actual brokerages.
MetaTrader’s iOS issue opens brokers’ eyes to other trading platforms – FinanceFeeds
MetaTrader’s iOS issue opens brokers’ eyes to other trading platforms.
Posted: Mon, 26 Sep 2022 07:00:00 GMT [source]
It is said that some of these iPhones are now selling for over $5000. This is a crazy amount of money, but it is nothing for the trader who is a professional goal seeker. It is unclear if the end of the war is going to bring back these apps to the AppStore.
MetaTrader Banned on Apple’s App Store. What Does This Mean for Brokers?
XOH Trader and XOH Mobile come loaded with advanced charts
that are intuitive enough for novice traders to use conveniently, while
offering advanced traders all the tools they need for informed decision-making. We’ve spent
years perfecting our web and mobile apps to give brokers the edge they need to
attract and retain retail traders. Without any prior notification or formal
announcement, Apple removed the MetaTrader 4 and MetaTrader 5 online trading
platforms from its App Store. In a WhatsApp text message sent late Sunday evening, Cy, the victim who has still been unable to recoup any of his losses, said he was pleased that Apple had removed the trading app. He had previously told Forbes that a large part of why he was convinced to download it was that it had positive reviews and could be found on Apple’s App Store.
