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. As part of the scam, scammers ask retail traders to download the MetaTrader app. 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.
- MetaTrader has provided no explanation as to how unscrupulous actors can use the software to illustrate fake trades, nor what actions, if any, it has taken to mitigate this behavior.
- The award-winning Next Generation platform was independently developed by CMC Markets to ensure markets are always safely accessible to traders.
- Finance Magnates’ check shows that the trading apps do not come up when a search entry is done on the Apple App Store.
- If you’re applying for a position in San Francisco, review the San Francisco Fair Chance Ordinance guidelines (opens in a new window) applicable in your area.
- Apple overnight, despite everyone being unaware of what was happening, has provided for the definitive cancellation of the trading apps MetaTrader 4 and MetaTrader 5 (MT4 and MT5) from the App Store.
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. 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. 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.
About MetaTrader and Pepperstone
Our mission is to provide clients and partners around the world with the opportunity to become successful in the financial markets. 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. Each broker can customise the platform with the tools
and features they wish to offer their clients. 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. Apple’s ban of MetaTrader comes two weeks after Forbes profiled one California-based scam victim, who lost over $1 million last year.
Margin trading involves a high level of risk and is not suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Blueberry Markets, and seek independent advice if necessary. Forex and CFDs are highly leveraged products, which means both gains and losses are magnified. 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.
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 software has been enjoying decades-long patronage from industry stakeholders and remains a top choice for online retail forex traders. 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.
One thing is for sure, alternative platforms will be using this as an opportunity to further improve their security and advance their technology. For Apple users who have installed either MT4 and MT5 previously on their IOS device, there is a possibility to reinstall the platform by going to the App Store and go to “Account”, then click “Purchased” and choose the previously installed version . “The removal of the Apps does not only affect the parties involved but also the industry as a whole,” the representative added. Neither Apple nor MetaQuotes have commented on the removal, or the reason(s) for the removal of MT4 and MT5 from the App Store. (FNG has reached out to various senior sources at MetaQuotes, who at the time of writing have not replied). New users can no longer download the application from the Apple App Store.
The official reason has not been disclosed but this unexpected move sparked varied speculations. One probable speculation is the increasing number of frauds being executed through the MT4 and MT5 app which prompted Apple to take quick and drastic action. The removal of MT4 and MT5 from the Apple App Store has been shrouded in mystery, with little communication from either Apple or MetaQuotes at the time of its sudden departure. Various theories have speculated on the reason for this, but none have been officially confirmed. 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. Nonetheless, white-label brokers provide customized versions to their clients.
Another sore point that could have caused this so drastic measure by Apple concerns the massive presence in the Store of “bogus” applications that were passed off as MetaTrader 4 and MetaTrader 5 (MT4 and MT5). According to reliable sources, the cancellation of MetaQuotes apps was caused by the strong friction between Western countries and Russia. The Metatrader 4 (MT4) for iOS is not available to download from the Apple App Store. If you have any further questions, please feel free to contact AMarkets customer support. According to Finance Magnates Intelligence, MT4 and MT5 boasted a combined 78.7% share of the market at the close of 2020. MetaQuotes noted that it was liaising with Apple “in an effort to clarify the situation” and resolve the issue.
About this app
You use problem-solving and people skills to assure Genius Bar customers of swift resolutions to their technical problems. You also educate your team members about products, while independently keeping your own technical know-how up to date. With your customer service brilliance and empathetic nature, you provide Genius advice and support every day.
The impact will really be
felt over the longer term if brokers can no longer offer the platforms to new
clients. Without any prior notification or formal
announcement, Apple removed the MetaTrader 4 and MetaTrader 5 online trading
platforms from its App Store. A popular smartphone app used to conduct foreign exchange transactions known as MetaTrader (or MT4 or MT5, depending on the version), was quietly removed from Apple’s App Store last Friday. As of this writing, the app remains available on the Google Play store. Well-liked foreign exchange and contract for distinction (CFD) buying and selling platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), are now not obtainable for downloading on the Apple App Retailer.
Why MetaTrader apps removed from the App Store?
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. MetaTrader has provided no explanation as to how unscrupulous actors can use the software to illustrate fake trades, nor what actions, if any, it has taken to mitigate this behavior. The Consul General and his principal officers direct the activities of the United States Consulate General in Frankfurt. The Frankfurt Consulate is the largest U.S. consular post and one of the largest diplomatic missions in the world. The Consulate serves the American resident community – including members of the Armed Forces and their families, business people and retirees – and assists many other visitors to Frankfurt. Apple is committed to working with and providing reasonable accommodation to applicants with physical and mental disabilities.