Upgrades followed to include CFD trading for multiple asset classes, including stocks, indices, commodities energies, and futures. The company released MT5 in 2010, which surpassed MT4 as their most popular platform in early 2021. On the 23rd of September, Apple informed MetaQuotes, the developers of MT4 and MT5, of their intention to remove the popular trading apps from the App Store. Later on the same day, Apple removed MT4 and MT5 from the App Store.
A possible reason an app get removed from the App Store is for being flagged by users. If this has been the case however, MetaQuotes sure sound too surprised with the situation. In the meantime, a possible reason for removal could have been the recent scam broken by forbes.com on September 9th called “How One Man Lost $1 Million To A Crypto ‘Super Scam’ Called Pig Butchering”. However, we starting to see major US regulated brokers stopping to offer MT5 to their retail clients via their websites. “The removal of the Apps does not only affect the parties involved but also the industry as a whole,” the representative said.
However, these reasons are certainly not worth the billions that it will lose with no commission. Netizens have noticed that Apple has quietly removed several applications from the AppStore that have ties to Russia. This is in protest of the recent inhumane war that Russia is carrying out in Ukraine. Several sanctions are being placed on Russia, and Apple is doing the same.
MetaQuotes noted that it was liaising with Apple „in an effort to clarify the situation“ and resolve the issue. Moreover, the company said it was considering other various options. „We do not believe that Apple’s actions are linked in any way with the Western sanctions on Russia,“ the MetaQuotes representative said. Nonetheless, white-label brokers provide customized versions to their clients. Jan Santiago, GASO’s deputy director, said the organization was “glad” for the app’s removal.
The MetaTrader ban has surprised traders, especially considering how convenient these platforms are for online Forex trading. As suggested by Finance Magnate’s Quarterly Intelligence Report of Q2 of 2022, MT4 and MT5 together covered 83% of the market share of overall online trade transactions. Meta Trader 4 and Meta Trader 5 are the most popular trading platforms in the world. They are more commonly known as MT4 and MT5 and surpass all other trading platforms in terms of a variety of services and customer support. Buzz around the ban is due to the immense
popularity of MT4 and MT5, which together account for 83.8% of the total online
trading platform market share, according to Finance Magnate’s Quarterly
Intelligence Report for Q2 of 2022. Ideally, MetaQuotes fixes whatever Apple requests to be fixed and (I hope) delivers a safer trading environment by eliminating all of the scammy whitelabels.
According to Finance Magnates Intelligence, MT4 and MT5 boasted a combined 78.7% share of the market at the close of 2020. By using our site, you acknowledge that you have read and understand our Privacy Policy (Cookie Policy), and our Terms of Service. 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). According to reliable sources, the cancellation of MetaQuotes apps was caused by the strong friction between Western countries and Russia. This website is using a security service to protect itself from online attacks.
Apple has done this many times previously where it would release a version of something popular specifically for Apple users and remove all other similar applications to Apple users would have no choice but to use that application. Another popular scam going around involves Plug-ins with the Meta Trader apps. MetaQuotes is known to be very lenient when it comes to some hacks and cheats people do on their app. They usually turn a blind eye when they see people doing illegal activities or scams on the app.
Though, there hasn’t been any formal explanation from the company. Most traders and users believe that this was definitely not the right decision. It is going to cause people to lean more towards getting an Android. They will certainly have no problem easily replacing their Apple phones with new ones immediately. If Apple found out about this download scam, there is no doubt that they would remove the Meta Trader applications from the AppStore in order to teach the creator a lesson.
Although the MetaTrader4 and MetaTrader5 ban shocked the market, it didn’t create an unresolved problem. Traders can still trade on MT4 and MT5 desktop terminals or utilise the mobile application if they are an Android user. Moreover, they may leverage potential alternatives to give an edge to their Forex trading journeys. This terminal assists traders who don’t want to waste time waiting or who wish to try high-frequency trading, scalping, or both to benefit from quickly changing markets. Although it initially seemed a significant problem, traders who have MetaTrader installed on their devices can continue using the app with the only limit — they can’t get any updates or new features.
MT4 was released in Russia in 2005 before MT5 came in 2009 to support more trading instruments. According to a study conducted in September 2019, MetaTrader 4 was still the most popular trading platform in the world at the time. These popular platforms were developed by the company MetaQuotes and have been providing services for several years now to both Android and Apple users.
Neither Apple nor MetaQuotes have commented on the removal, or the reason(s) for the removal of MT4 and MT5 from the App Store. (FNG has reached out to various senior sources at MetaQuotes, who at the time of writing have not replied). The application is available as a free download from the Apple App Store. Developed by the Spotware Systems group in 2011, the user-friendly application facilitates trading on thousands of financial instruments, from stocks and ETFs to commodities and cryptocurrencies. Finance Magnates reports that prospective forex and CFD brokers are finding it hard to be onboarded by white-label services to kick off their new brands.
While users with existing apps installed on their iPhones will still be able to use the platforms, updates will not be available in the App Store. The move must have caused significant disruption to MetaQuotes’ business and some major concerns among retail forex traders. MT4 and MT5 remain the standard all other trading platforms need to reach to be successful. Of course, there are several excellent alternatives to MetaQuotes solutions, but the comparison will always be there.
A plug-in scam is where users enter a plug-in to any of the Meta Trader 4 or Meta Trader 5 apps, which helps them change the values of their profits or trades. This can be used to trick people into investing with you by seeing high profits. Recently, there was a scam going on involving the MetaQuotes apps MT4 and What Are The 4 Types Of Crm MT5. The scam was that people were offered money in exchange for downloading these Meta Trader apps. We’ve spent
years perfecting our web and mobile apps to give brokers the edge they need to
attract and retain retail traders. Brokers are hopeful that MetaQuotes will be looking at ways to resolve
the situation.
This only affects traders who wished to download the app on their iPhones or iPads. Keeping this in mind, never invest more money than you can risk losing. The risks involved in trading may not be suitable for all investors. ECS doesn’t retain responsibility for any trading losses you might face as a result of using the data hosted on this site. It is however unclear, how MetaQuotes was deemed responsible for action.