MetaQuotes on the other hand completely denies anything to do with this scam. On the other hand, Forbes itself quotes Apple spokesman Adam Dema as revealing that the company is investigating complaints against MetaTrader. Dema emphasized that Apple will take further action to protect App Store users if necessary. App versions of the popular PC electronic trading platforms are provided by MetaQuotes Software Corp., a Russian software company that also has registration offshore in Limassol, Cyprus. 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.
It is unclear if the end of the war is going to bring back these apps to the AppStore. This is entirely because we’re not yet sure if this was the reason why Apple banned these apps in the first place. However, we are to expect a statement from either parties soon if it were the case. 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.
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. 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. Here are five things you need to know about MetaTrader and this change.
The information on this website is intended for non Australian citizens and residents only. Please note, Australian residents cannot open an account mt4 removed from app store with ACY Capital Australia LLC. Certified provider of trading support solutions and services to the global financial trading industry.
MetaTrader Banned on Apple’s App Store. What Does This Mean for Brokers?
While the apps are currently available on Google Play, they are no longer available on the App Store. «We do not believe that Apple’s actions are linked in any way with the Western sanctions on Russia,» the MetaQuotes representative said. Jan Santiago, GASO’s deputy director, said the organization was “glad” for the app’s removal.
While MetaQuotes is based in Limassol, Cyprus, the company has its origins in Russia and its founder and CEO Renat Fatkhullin, along with his brother Lenar Fatkhullin who serves as Marketing Director for the company, are Russian. The removal of MT4 and MT5 from the App Store does not seem to be affecting those in the Apple / iOS mobile environment (iPhone, iPad) who have already downloaded the apps to their devices. However it is unlikely that those users will be able to download future updates or upgrades or patches to their devices. However, the representative noted that the removal of the trading apps from the App Store has caused significant losses to the company. 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. Those apps are likely to include the likes of Facebook, Instagram, X, and YouTube, among others.
Possible Proprietary Platform
After spending too much money building gaming PCs, Oliver switched to Apple and the Mac – and now spends too much on those instead. Apple temporarily removed them from their store from September 2022 – March, 2023, but there was never any ban from any government entity. Apple seems satisfied that the issues that lead to MT4 and MT5’s removal have been adequately addressed.
- A MetaQuotes representative told Finance Magnates that the company received a letter from Apple on Friday, September 23, stating that
the firm’s trading apps do not comply with the App Store Review Guidelines.
- 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.
- MetaQuotes is based in Cyprus, but originated in Russia where it was founded by current CEO Renat Fatkhullin.
- Apple’s main problem, it seems, is that MT4 and MT5 were being manipulated by scammers posing as brokers.
- Currently, traders using iOS devices have to start sourcing for other platforms, while Android users can continue to enjoy using the app as MT4 and MT5 on the Google Play Store.
- Of course, there are several excellent alternatives to MetaQuotes solutions, but the comparison will always be there.
MT4 and MT5 together captured 83.8% of the total market share at the end of Q2 2022, according to Finance Magnates Intelligence. The information contained on this website is for entertainment purposes only and should not be considered personal financial advice. Mike Diamond Financial Skills bears no responsibility for any losses you may incur. This site and its educational mission are funded by affiliate commissions. Since the birth of both MT4 and MT5, countless of comparison have been made but MT4 dominated in popularity. However back in June 2021, MT5 became more popular than MT4 among brokers which highlights the constant improvements the parent company, MetaQuotes provides.
‘No Link to Western Sanctions on Russia’
Meta Trader 4 and Meta Trader 5 have always been compatible with most Android and Apple devices. They were available on both the Play Store and the AppStore so that the majority of users would be able to access their services. Apart from its
scalability, it offers 99.99% stability without any hosting costs, since it is
cloud-based. Our XOH Trader platform, with both web and
mobile app versions, is a powerful and intuitive HTML5 platform that delivers
high performance, reliability, and speed across browsers and mobile operating
systems, including Android and iOS. Based in the UK, Oliver has been writing about technology, entertainment, and games for more than a decade.
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. 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.
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 and value-driven approach to multi-asset trading and technological integration. The move must have caused significant disruption to MetaQuotes’ business and some major concerns among retail forex traders. Finance Magnates’ check shows that the trading apps do not come up when a search entry is done on the Apple 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.