MetaTrader Banned From Apple App Store

Lately, fiery headlines have been rising on concerns between MetaTrader and Apple.

The reports show that Apple removed the MetaTrader 4 and MetaTrader5 online trading platforms from its App Store. The action was executed without prior communication or formal notification.

To be precise, the IOS-based devices will cease accessing MT4 and MT5 Apps download rights going forward.

The reason behind withdrawing the two platforms from the app has not been clarified. However, it is believed that the casting out of the platforms from IOS devices would be a result of several scams reportedly associated with these platforms.

How bad will this removal affect Brokers?

The whispers suggest that the removal was due to the enormous popularity of MT4 and MT5. According to Finance intelligence for Q2 of 2022, the two platforms account for 83.8% of the total online trading platforms’ market share.

The iphone and iPad users who previously downloaded the two platform apps will have the advantage of proceeding with the services, but they will be limited on a system upgrade.

The ban will hugely affect the already active users due to limited upgrades and fixes. The broker will not be able to sign in new clients.

However, the brokers are hopeful that MetaQuotes will investigate the issue and push for a solution. At the moment, brokers can offer a web version of the platform.

Alternatively, the brokers can advise clients to use other applications to access the platform services.

MetaTrader is one of the widely renowned platforms that will feel the ban impact. However, the action on contrary attracts an opportunity for the broker to check the latest technology solutions in the market.

A Sigh Of Relief

The current financial industry has changed its dynamics. Every trader needs to take every vessel to appear unique and productive.

Customer expectations are as well constantly changing and so are the regulatory bodies.

In addition, technology is remarkably advancing, leaving the competitors with the only choice to go for the best.

As a result, several apps have been developed to cover the loopholes arising between brokers. Regarding this, traders have access to their trading services through various web channels from different jurisdictions.

This grants MT4 and MT5 fewer worries as they can continue exercising their trading business via other websites.