This victim, known as Cy, made all of his purported trades on the MetaTrader app, which showed him fictitious returns. At the time, Apple spokesperson Adam Dema said the company was investigating MetaTrade and was looking into additional action to protect App Store users if necessary. A key element of the scam is the use of manipulated cryptocurrency apps and websites, which purport to show the victim that they’re making money off their investment, when in fact the scammer has taken everything. The good news is that if you already have either the Meta Trader 4 or Meta Trader 5 platforms downloaded on your Apple device, you have nothing to worry about, as these apps will not be deleted. The most that’s going to happen is that you’re going to stop receiving any new updates.
- As part of the scam, scammers ask retail traders to download the MetaTrader app.
- If this was the reason for Apple to delete the app, there is a high possibility that this is just a temporary ban.
- You should only trade in these products if you fully understand the risks involved and can afford to incur losses that will not adversely affect your lifestyle.
- Some were worried that Apple’s decision was just the beginning and forex brokers may cease their partnerships with MetaQuotes.
- This would put Apple in a bad spotlight where it would be judged by everyone.
- MT4 and MT5 remain the standard all other trading platforms need to reach to be successful.
- While this theory is not that popular, it is still a very good possibility.
Through the years, as MT4 and MT5 grew to become the number one trading platform, usage improved over time with the introduction of mobile trading. 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. 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. MT4 and MT5 remain the standard all other trading platforms need to reach to be successful.
Exclusive: MT4 and MT5 back up on the Apple App Store
MetaQuotes is currently liaising with Apple to resolve the situation. 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. While this theory is not that popular, it is still a very good possibility. Apple could be slowly removing all the top trading platforms like Meta Trader 4 and Meta Trader 5 from its AppStore because it could have plans to release its own trading platform specifically for Apple users.
Of course, there are several excellent alternatives to MetaQuotes solutions, but the comparison will always be there. The software has been enjoying decades-long patronage from industry stakeholders and remains a top choice for online retail forex traders. Since its introduction, the MetaTrader trading platform has grown to become a giant in the online forex and CFD industry.
Forex Signals
Most brokers have their own proprietary trading apps that they offer in addition to MT4 and MT5. In fact, I recently wrote a review ranking my favorite forex trading apps that aren’t developed by MetaQuotes. 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. MetaTrader, also known as MT, is an electronic trading platform widely used by online retail foreign exchange speculative traders. Apple has temporarily removed the MetaTrader 4 and 5 apps from the App Store.
Apple’s MetaTrader Ban: What’s Changed in CFDs? – Finance Magnates
Apple’s MetaTrader Ban: What’s Changed in CFDs?.
Posted: Tue, 08 Nov 2022 08:00:00 GMT [source]
We now have a good idea of why Apple may have removed MetaQuotes’ MT4 and MT5 apps from the AppStore. However, it is also important to understand how this has impacted traders worldwide. For starters, Apple users who are using these trading platforms are now considering shifting to Android.
Apple applies Chinese licensing laws to the App Store as some apps face being removed
Visa and Mastercard suspended their operations in Russia, bank transfers and financial transactions have been banned. Both apps are available on on Google Play, the equivalent for Android phones, as of Saturday 9 PM AEST. Without a resolution, one possible solution would be to install MT4 and MT5 from third-party sites.
It is an agnostic trading platform, one that is used by mainstream foreign exchange traders like Oanda. Everything looks and feels real, but it’s all a fabrication,” according to a report from GASO. 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. The move seems to be about the trading platforms not complying with review guidelines. For example, a recent article published in Forbes magazine detailed an online scam involving MT4.
As of 6 March 2023, MT4 and MT5 are now back in Apple iOS!
While not as simple to do as on an Android phone, installing apps from outside the Apple App Store isn’t impossible. Please keep in mind that it will void your phone’s warranty and make it difficult to upgrade to newer versions of iOS, so probably not the best solution. While the move by Apple to remove MT4 and MT5 from the App Store could open the door for more brokers to move to these alternatives, according to the company, MetaQuotes is in talks with Apple to find a remedy. A lack of a corporate bank account would be a major hurdle to overcome and would undoubtedly cause significant delays in launching operations under the new MetaQuotes compliance procedures.
(FNG has reached out to various senior sources at MetaQuotes, who at the time of writing have not replied). While it may trivialize the problem, perhaps the easiest short-term solution would be to use an Android device for mobile trading. Of course, that won’t be a route many mt4 removed from app store iPhone users would enjoy, but it is an option. The fact that the scammers chose MT4 had nothing to do with MetaQuotes. 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.
Apple removes MetaTrader MT4 & MT5 from App Store
Every Apple user who is looking to download these platforms can no longer do so as it won’t show up on the AppStore. It was revealed that Apple had removed both the Meta Trader 4 and Meta Trader 5 platforms from the AppStore. This revelation shocked traders worldwide as this came unexpectedly through no statement from either Apple or MetaQuotes. 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. It’s highly customisable, enabling brokers
to offer their clients a complete fully branded platform and multi-asset
trading experience.
