Update: On March 6, 2023, MetaQuotes announced the relisting of MetaTrader 4 (MT4) and MetaTrader 5 (MT5) on the App Store, so now iOS users can download the apps, and those who already have them will get updates. However, it doesn’t mean you should skip this article. Read on to learn the history behind the relisting.
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.
This article will run you through what the 'MetaTrader banned from the Apple App Store' announcement is about, how it affects MT4 and MT5 trading, and the possible alternatives. Let's dive in.
What Is the MetaTrader 4 and MetaTrader 5 Ban All About?
On September 23, 2022, users found MT4 banned and MT5 banned from the Apple App store. The company simply stated that these MetaQuotes instruments didn't comply with the App Store's review guidelines. Though, there hasn't been any formal explanation from the company.
The MetaTrader ban has surprised traders, especially considering how convenient these platforms are for online Forex trading. As suggested by Finance Magnate's Quarterly Intelligence Report of Q2 of 2022, MT4 and MT5 together covered 83% of the market share of overall online trade transactions.
How Did the Ban Affect Traders?
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.
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 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. Moreover, Apple didn't claim the ban can't be removed. 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.
Alternative Solutions: FXOpen TickTrader Platform
You may consider some alternatives to equip yourself with additional tools and instruments. The FXOpen TickTrader platform is one of the options.
The TickTrader platform aims to satisfy the requirements of even the most demanding traders. It’s a trading platform that allows users to trade Forex pairs and CFDs on the most popular asset classes including stocks, indices, commodities, and cryptos*. Traders can reach limitless trading opportunities with a single log-in.
TickTrader was developed by those who understand market requirements and value customer performance and security.
- Terminals for All Devices and Browsers
- Customizable Trading
TickTrader users can experience a user-friendly interface adjusted to suit their needs and with over 1200 advanced trading tools.
- One/Double Click Trading Mode
This terminal assists traders who don't want to waste time waiting or who wish to try high-frequency trading, scalping, or both to benefit from quickly changing markets.
- Level 2 Pricing
With up to 200 levels and the opportunity to examine their limit orders within the order book, a trader can explore the depth of the market.
- Trading Alert System
Traders can create their own alerts on price movements and decide how to receive notifications.
- Advanced Order Types
Advanced order types enable the most discerning clients to develop sophisticated market strategies. Traders can use Market Orders, Limit Orders, and Stop Orders.
Traders can manage their trades directly through the platform or by using FIX, REST, or WebSocket API.
Although the MetaTrader4 and MetaTrader5 ban shocked the market, it didn’t create an unresolved problem. Traders can still trade on MT4 and MT5 desktop terminals or utilise the mobile application if they are an Android user. Moreover, they may leverage potential alternatives to give an edge to their Forex trading journeys.
*At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients.
This article represents the opinion of the Companies operating under the FXOpen brand only. 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.