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

MetaQuotes, a developer of MT4 and MT5 platforms, may find a way to resolve issues with Apple and consider additional mechanisms to avoid similar issues with other platforms in the future. 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. 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. “Apple provided
assurance that customers who have already downloaded the Apps will not
be affected. These customers can still use the Apps from their devices
and will still have access to any in-app purchase products,” the representative explained.

why metatrader removed from app store

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 apps removed from the App Store?

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.

why metatrader removed from app store

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.

Anyone know why mt4 / mt5 were removed from the app store?

If this has been the case however, MetaQuotes sure sound too surprised with the situation. However, we starting to see major US regulated brokers stopping to offer MT5 to their retail clients via their websites. “The removal of the Apps does not only affect the parties involved but also the industry as a whole,” the representative said. MetaQuotes How Much Does It Value To Create A Bitcoin Exchange Software Corp., creator of the MT4 and MT5 platforms, is a Russian software company with offshore registration in Cyprus. In addition to this, Apple to contribute to the sanctioning maneuver implemented by the Western states, has proceeded to block the sale of all products and the suspension of any financial service, including ApplePay.

why metatrader removed from app store

The technology giant then promptly removed both applications from its App Store, preventing any new downloads. The trading community was shocked when Apple announced the ‘MetaTrader ban’ on the Apple App Store. Some started looking for new trading platforms, while others were just confused about what to do next. Yes, India did in 2020, costing ByteDance one of its biggest markets. The government there cracked down on hundreds of Chinese-owned apps, claiming in part that they were secretly transmitting users’ data to foreign servers.

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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. Although the reasons behind the move have not
been clarified, it is believed that the removal of the platforms could be due
to several scams reportedly implemented through these platforms. Please read the full list of posting rules found in our site’s Terms of Service. Our community is about connecting people through open and thoughtful conversations.

why metatrader removed from app store

ECS is not a Financial Services firm and does not operate as a financial services firm. ECS does not gain or lose profits based on your trading results and operates as an educational company. Remember that software’s past performance does not ensure future results and you may lose some or all of your invested capital. Remember the risk of trading Forex & CFD – it’s one of the riskiest forms of investment. Please ensure your method matches your investment objectives, study the risks involved and if necessary seek independent advice. It’s should be ok as far as all the desktop users are concerned at the moment, unless of course, the rumors about the US sanctions turn out to be true, which could lead to an outflow of true and capital out of the platform.

MetaTrader MT4 and MT5 removed from the Apple App Store

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. Lawmakers and regulators in the West have increasingly expressed concern that TikTok and its parent company, ByteDance, may put sensitive user data, like location information, into the hands of the Chinese government. They have pointed to laws that allow the Chinese government to secretly demand data from Chinese companies and citizens for intelligence-gathering operations.

why metatrader removed from app store

As Forbes previously reported, MetaTrader, which offers licenses for its software, does enable legitimate trade by actual brokerages. 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. Finance Magnates spoke with representatives of the four
companies mentioned, and all presented similar opinions. Unsurprisingly, they
agreed that their platforms could be the best alternative for brokers and their
clients. 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.

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.

  • The web platform allows you to open and close positions without downloading any software.
  • Each broker can customise the platform with the tools
    and features they wish to offer their clients.
  • 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.
  • According to a study conducted in September 2019, MetaTrader 4 was still the most popular trading platform in the world at the time.
  • 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.

Hercules.Finance is a financial education website powered by a team of Financial Specialists and IT experts, mainly introduce solutions of Forex, CFD and Commodity Investment, and a number of Payment Services. With more than 30 partnered companies all over the world, Hercules.Finance offers trusted and timely information for Investors and Users of the services. By referring to Hercules.Finance, you can find all latest News/Information, Financial Technical/Fundamental Analysis, Main/Exclusive Bonus Promotions of partnered companies and a number of Educational Materials of Finance. For more latest information of the website, please visit The award-winning Next Generation platform was independently developed by CMC Markets to ensure markets are always safely accessible to traders.

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. Moreover, the desktop versions of MetaTrader 4 and MetaTrader 5 can be used without issues. Meanwhile, Android users can continue to utilise the platforms since they are still available on the Google Play Store. Although it initially seemed a significant problem, traders who have MetaTrader installed on their devices can continue using the app with the only limit — they can’t get any updates or new features.

Having MetaTrader platforms on offer still seems to be a
‘duty’ of a retail broker. Indeed, Apple’s ban will not make the market share
of these tools disappear entirely. However, it is worth preparing for those
customers who can no longer use the MetaQuotes app on their iOS mobile devices. Although it was said that brokers and traders would feel the impact of the ban in the long run if other app stores also jumped onto the banning bandwagon, it’s only an assumption and hasn’t happened yet.


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