Jan Santiago, GASO’s deputy director, said the organization was “glad” for the app’s removal. News of the app’s removal was first reported by FX News Group and Finance Magnates on Saturday. 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.
- MT4 was released in Russia in 2005 before MT5 came in 2009 to support more trading instruments.
- This scam type basically uses manipulated crypto apps and websites to make the investment look real.
- We hope that the following solutions help so that you can load MetaTrader 5 and the download doesn’t take forever.
- 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.
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. Apple appears to have pulled popular trading apps MetaTrader 4 and MetaTrader 4, also known as MT4 and MT5, from the App Store overnight in a move possibly linked to the Western sanctions over Russia’s invasion of Ukraine. Both the MT5 and MT4 apps and the desktop versions of the software are available for download at any time on Google Play.
What You Need to Know about MetaTrader Ban on App Store
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. This incident apparently affected not only MetaQuotes but also numerous brokers that use the platform. MT4 and MT5 together captured 83.8% of the total market share at the end of Q2 2022, according to Finance Magnates Intelligence.
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. If you are into cryptocurrency and copy trading, eToro is undoubtedly a great choice to start.
MetaTrader No Longer Available on App Store
The developers seem to have put a lot of work to ensure that the platform is easy to use and suitable for any kind of trader. Tradingview is an innovative platform created by a group of professional developers and traders who share a vision that online trading should be easy, powerful, and accessible to everyone. It takes advantage of the latest technology called cloud computing and browser language, making the platform available for any trader in the world. In addition, Tradingview is also a social community where users can share ideas and exchange news to enhance their skills. The real impact will more likely be felt in the long term if other versions of the app are also banned and brokers can no longer offer their services to new clients.
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. The apps were pulled down on the aforementioned date, the software development company noted. “If MetaTrader won’t do anything on the grave issues raised by users who trusted them, then the responsibility falls on platforms like Apple and Google Play store that list MetaTrader,” he wrote in an email.
This led to MT5 winning the “Best Multi-Asset Trading Platform” award at the Global Forex Awards 2021. The award recognises the best solutions which enable an innovative metatrader not on app store and value-driven approach to multi-asset trading and technological integration. Join thousands of traders who choose a mobile-first broker for trading the markets.
The removal of MetaTrader apps is certainly huge news in the trading world, but it is not the end of everything. Furthermore, An Exchange-Traded Fund (ETF) is a financial instrument comprising several assets grouped to serve as one tradable fund. After opening an account in eToro, traders can invest as little as USD250 in an ETF that costs USD500.
MetaTrader 5 not loading: Issues with MetaTrader 5
Last week, users were shocked by the disappearance of the MetaTrader 4 and MetaTrader 5 applications from the App Store. This has taken the forex and CFD trading industry by storm because MetaTrader is the most used trading platform. Brokers are hopeful that MetaQuotes will be looking at ways to resolve
the situation. Alternatively, Apple’s move could push
brokers to look at other trading applications or even consider developing their
own platforms. What happened between Apple and MetaQuotes may be unfortunate and could serve as a turning point for users.
While the MetaTrader ban is big news for the trading world, it doesn’t
necessarily need to be bad news. With so much success and consistency across the years, why did MT4 and MT5 suddenly disappear from the App Store? Apple removed MT4 and MT5 from the App Store on the 23rd of September 2022 claiming the app did not comply with its guidelines. The official reason has not been disclosed but this unexpected move sparked varied speculations.
The Future for MetaTrader?
Although iPhone and iPad users who
have already downloaded the trading platforms can continue to use them, they
will be unable to access updates, upgrades or fixes. The news came as a surprise to forex traders around the globe as Apple removed arguably the most popular trading apps MetaTrader 4 (MT4) and MetaTrader 5 (MT5) from the App Store overnight. 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. This sudden removal by Apple of the most used trading platforms in the world has caused quite a few dissensions among traders for various reasons. Another feature that is unique to eToro is the personalized, social News Feed. Just like on any social media, traders can post their updates on feed, comment on other’s posts, and gradually create a feed that is tailor-fitted to trader’s trading and investing interests.