E-mail: ltbassociation@gmail.com

MetaTrader Banned from the Apple App Store: Are There Solutions? Market Pulse

//MetaTrader Banned from the Apple App Store: Are There Solutions? Market Pulse

MetaTrader Banned from the Apple App Store: Are There Solutions? Market Pulse

Both apps are available on on Google Play, the equivalent for Android phones, as of Saturday 9 PM AEST. When choosing
a new partner as a broker, it is worth ensuring the fastest and least
painful migration process to keep clients and traders unaffected. The application is available as a free download from the Apple App Store. According to Finance Magnates Intelligence, MT4 and MT5 boasted a combined 78.7% share of the market at the close of 2020. Before performing any transaction with FXOpen UK, please read the Terms and Conditions and Disclaimers and Risk Warning which may be downloaded from this site or obtained in hard copy by contacting our office.

why metatrader removed from app store

Both new and existing users are impacted by Apple’s latest move. If you have the MT4 or MT5 iOS app already installed on your device you can continue to trade with it, but you will not be able to make any future updates. Both applications support Windows and Mac OS operating systems for desktop trading. The apps are also compatible with Android and iOS devices for mobile trading. 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. On September 23, 2022, users found MT4 banned and MT5 banned from the Apple App store.

As of 6 March 2023, MT4 and MT5 are now back in Apple iOS!

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. Apple’s ban of MetaTrader comes two weeks after Forbes profiled one California-based scam victim, who lost over $1 million last year. This victim, known as Cy, made all of his purported trades on the MetaTrader app, which showed him fictitious returns.

why metatrader removed from app store

“MetaTrader, also known as MT, is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software.”

This is a community subreddit totally run by the users and have no affiliation or endorsement by the developers or any brokers. MT4 and its more recent cousin MT5 are creations of MetaQuotes, a Cyprus based fintech software developer which has a more-than-50% market share in the online trading platform market among online FX and CFD brokers, and their retail trader clients. MetaTrader 4 (MT4) and MetaTrader (MT5) can no longer be downloaded from the Apple App Store. MT4 and MT5 account for around 80% of the retail trading app market, so the move will affect a significant portion of brokers and traders.

Latest articles

Our interviewees repeatedly discussed the “new opportunities” the ban has created and talked of the impact the ban will have. As an incumbent and
emerging broker, you should consider basing your offering not only on
MetaQuotes platforms but also complementing it with one of the popular
alternatives offered in a white-label format. Finance Magnates Intelligence gathered offerings
of six popular FX/CFD trading companies to show what are they proposal for potential brokers. 54 timeframes are available on 5 different charting styles, including bar, candlestick, dots, line and area charts.

  • Moreover, they do not believe the situation will negatively affect the
    popularity of the CFD industry among retail clients and will not increase the
    popularity of zero-fee trading platforms such as Robinhood.
  • Both apps are available on on Google Play, the equivalent for Android phones, as of Saturday 9 PM AEST.
  • MetaQuotes noted that it was liaising with Apple “in an effort to clarify the situation” and resolve the issue.
  • As the story unfolds after the MT4 and MT5 removals, MetaQuotes has reached out to the brokers with the following message.

Russian payment system Mir, which was only supported by a handful of countries outside Russia, was also dealt a heavy blow this week  after suspension by banks in Turkey and Central Asian countries after the U.S. Treasury sent a letter to financial institutions  warning they risked penalties if they maintained commercial ties with sanctioned Russian individuals or businesses, or any entity linked to them. If you’re trading on MT4 as a CMC Markets client, your personal information and funds are always accessible to you even if the MT4 platform is not. That’s because they’re housed in a secure location in your account’s Admin hub. Simply log in to your CFD account via the CMC Markets website to access. New users can no longer download the application from the Apple App Store.

Finance Magnates Daily Update

Apple stopped all product sales and suspended financial services, including Apple Pay in Russia in March. While the iconic duo of MetaTrader4 and MetaTrader5 is no
longer available for iOS devices, brokers and traders have been left wondering what’s next
for the industry. Finance Magnates covers the topic in the latest
edition of the Quarterly Industry Report. To date, MT4 and MT5 app users on Android and non-iOS desktop systems can still log in to their accounts and trade normally.

why metatrader removed from app store

Social media has been abuzz this weekend, with reports that at some point late this past week Apple removed the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading apps from its App Store. Investing in CMC Markets derivative products carries significant risks and is not suitable for all investors. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. The firm’s MT4 and MT5 trading apps are offered by the majority of online brokers, including big names like Pepperstone, AvaTrade and Eightcap. However, the representative noted that the removal of the trading apps from the App Store has caused significant losses to the company.

What Is the MetaTrader 4 and MetaTrader 5 Ban All About?

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”. Unfortunately, what happened will create many problems for millions of traders who own Apple devices. 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. This only affects traders who wished to download the app on their iPhones or iPads.

why metatrader removed from app store

The company is based in Limassol, Cyprus, and has been operating since 2000. Finance Magnates’ check shows that the trading apps do not come up when a search entry is done on the Apple App Store. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. One area that traders might worry about in the absence of the MetaTrader
platforms, is the feature-rich charting tools. 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.

Apple Removes A Trading App Linked To Crypto Scams From The App Store

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. Each broker can customise the platform with the tools
and features they wish to offer their clients. However, before deciding to participate in Foreign Exchange Cryptocurrency Faucets (FX) trading, you should carefully consider your investment objectives, level of experience and risk appetite. 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. Read our preview of major market events in the week beginning 4 March 2024, and view our economic and company reports calendar.

Key points from the latest US jobs report, including the closely watched non-farm payrolls print. 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. Nonetheless, white-label brokers provide customized versions to their clients. Traders can manage their trades directly through the platform or by using FIX, REST, or WebSocket API.

The financial industry is an extremely dynamic one, and businesses need
to be flexible to thrive (and survive) in this landscape. Customer expectations
are constantly changing, as is the regulatory scenario. The news of Apple’s latest move slowly filtered through social media,
followed by mainstream media. At X Open Hub we’ve been closely following this week’s developments
surrounding MetaTrader and Apple.

On-demand playback will be available after the conclusion of the stream. They are also worried that China could use TikTok’s content recommendations to fuel misinformation, a concern that has escalated in the United States during the Israel-Hamas war and the presidential election. After President Biden signed into law legislation that gives ByteDance up to a year to divest from TikTok, the company sued the federal government in a case that is likely to end up in front of the Supreme Court. As the story unfolds after the MT4 and MT5 removals, MetaQuotes has reached out to the brokers with the following message. Besides, MetaQuotes sounding as surprised as all of us, nothing revealing or striking can be derived from the message.

By | 2024-06-10T16:32:11+00:00 June 9th, 2024|FinTech|0 Comments

About the Author:

Leave A Comment

× How can I help you?