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What You Need to Know about MetaTrader Ban on App Store

By 2023-05-03augusti 30th, 2023No Comments

TradingView also offers the option to use it in demo mode, as well as an included tutorial for novice traders. The platform also features other useful tools such as a built-in economic calendar. Successful trading is highly dependent on compliance with events and developments that affect financial market movements. Industry observers point to the most likely reason as the fact that in addition to traders and forex brokers, MetaTrader is very popular among scammers.

However, it is worth preparing for those
customers who can no longer use the MetaQuotes app on their iOS mobile devices. Founded by MetaQuotes in 2005 and 2010 respectively, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have grown into two of arguably the top choice of trading platforms in the industry. Millions of traders worldwide have been using MetaTrader to execute their trades on global markets in the past couple of years. After serving traders for more than a decade, the legitimacy of MetaTrader is now being questioned. Many people are also starting to raise concerns about the future of MetaTrader and whether they should continue using the platform for trading. Owned by MetaQuotes, MT4 and MT5 are widely considered among the most popular trading platforms in the world, with MT4 particularly synonymous with forex and CFD trading.

Second, the absence of a fallback will give an advantage to competitors who can take market share from them. Also, the effect of rumors and the rapidly spreading misinformation cannot be underestimated. In the event of sudden problems like the ones that recently shook the industry, these brokers will suffer double losses. This is essential if the technology is supplied by a third-party vendor who also takes on the risk of running their own company.

Great app!

It quickly became internationally popular for its huge array of indicators, charting packages and amount of Expert Advisor tools offered. The MT4 software remains MetaQuotes’ most beloved product to this day. The announcement went on to quote MetaQuotes CEO, Renat Fatkhullin, as saying that the company is “happy that the situation has been resolved and we managed to find an understanding with Apple. Our company respects the requirements of any marketplace and always strives to meet them. We feel responsible to our users and therefore we did our best to provide clarifications on the issues raised from Apple in a timely manner.” 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.

FBS is also an established broker whose own mobile app makes it easy to manage your funds and trade all available financial instruments. The broker has included a cashback promotion in the app that allows you to earn up to 20% of the spread on each trade. But the ability to benefit from this bonus depends on whether it complies with the financial regulations that are applicable in your jurisdiction. At the start of the new year, it looks like the hopes of MetaQuotes and Apple reaching an agreement quickly are fading. There is a distinct possibility that the ban will prove to be permanent. Given the dominant position that MetaTrader platforms have held among trading software for over a decade now, this development is sure to have noticeable implications in the long term.

It does not take into account readers’ financial situation or investment objectives. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted. 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.

  • CTrader is another popular trading platform besides MetaTrader that’s often supported in major ECN brokers.
  • For almost the last two decades Metatrader 4 has been a go-to choice for online traders since their service and app flexibility is a top notch experience.
  • While Apple has yet to make an official statement on the matter, a MetaQuotes spokesperson has shed some light on the future use of the apps.
  • Technology-based solutions are a crucial point of failure in the context of forex brokers.
  • CTrade’s Open API empowers developers to write codes for apps that can connect to and trade with any cTrader account.

If you are into cryptocurrency and copy trading, eToro is undoubtedly a great choice to start. EToro has an independent trading platform that offers great trading conditions and an active community of global traders. It also has many social features such as news feeds and chart updates for specific tradable coins on the market.

TradingView also has the advantage of having an established community of users who actively share experiences and ideas, including customized scripts for analyzing market opportunities. After removing MT4 and MT5 from the App Store, Forex brokers faced a problem providing services to Apple mobile device users. Details of all open trade positions and pending orders can be found on the Trade window. The History window provides quick access to information about all executed trades.

MetaTrader 4 and MetaTrader 5 Return to Apple’s App Store

But apart from that, neither MetaQuotes nor Apple has made a formal statement regarding the specific reasons for the ban. This article will run you through what the ’MetaTrader banned from the Apple App Store’ announcement is about, how it affects MT4 and MT5 trading, and the possible alternatives. It’s a potent combination for those who wish to expand their trading expertise with high-tech trading tools and software. Changes in the legal field or problems with the technology provider can be fatal. The spokesperson stated that his company received a notice on September 23 that its MT4 and MT5 apps didn’t comply with Apple’s AppStore Review Guidelines and that they were removed from the AppStore following that notice.

An in-depth analysis of the popular trading platform

The company simply stated that these MetaQuotes instruments didn’t comply with the App Store’s review guidelines. When looking for MetaTrader alternatives, be sure to conduct your own study before joining a new platform. Apple has assured that users who have previously downloaded apps will not be affected, a company spokesperson also said that access to the in-app purchase feature is retained.

A few things I wish could be better is the zoom on the charts could give a little more control, I feel like the Mt5 does a better job at this. Also if more indicators can be added to the options list, there are some I use on trading view that I wish were available on it. Some positions on eToro involve ownership of underlying assets, such as non-leveraged positions on stocks and cryptos. Employing CFDs will enable a variety of options, such as leveraged trades, short (sell) positions, fractional ownership, and more. For example, traders can invest as little as USD100 in gold, even if a single unit of gold cost USD1,000. Some of eToro’s most popular CFD commodities include gold, oil, natural gas, silver, and platinum.

In response to the ban, the Cyprus-based company started to update and upgrade the web-based version of MetaTrader more actively. In addition to improving functionality, last fall’s software updates also improved UI scaling on mobile devices. Download MetaTrader 5 for iPhone/iPad on the AppStore, connect to your trading account or open a new account, and enjoy all the advantages of the mobile trading. The application supports the complete set of orders and trading functions. Market and limit orders can be placed both from Market Watch (the Trade window) and from Market Depth (Level 2, order book).

Others are asking whether MetaQuotes Russian origins and US sanctions have a role to play, though MetaQuotes has denied such claims. There is no information about MetaQuotes’s losses, but the relisting is a positive sign for the company as it has loyal customers. According to Finance Magnate’s Quarterly Intelligence Report of Q2 of 2022, MetaTrader 4 and MetaTrader 5 alone covered 83% of the overall online trade transactions.