Apple reportedly withdrew the popular trading programs MetaTrader 4 (MT4) and MetaTrader 5 (MT5) from the App Store at some point, according to stories circulating on social media. Those who have been using MT4 on web appear to be unaffected by the withdrawal of MT4 and MT5 from the App Store on Apple / iOS mobile devices (iPhone, iPad). But it is doubtful that all those users will have the ability to obtain upcoming fixes, improvements, or modifications for their gadgets.
Meta Quotes, a Cyprus-based financial software provider with a more than 50% market share among digital FX and CFD brokers and their retail dealer clients, is the company behind MT4 and its more recent cousin, MT5. Apple and Meta Quotes have not responded to the withdrawal of MT4 and MT5 from the Application Store or the reason(s) behind it.
What is an IDFA?
A distinctive identifier for mobile devices called IDFA (Identifier for Advertisers) is used to target users and assess the success of marketing across smartphones. A person’s journey can be tracked and identified by marketers using IDFAs without disclosing the individual’s personal information, to put it simply. An IDFA, for instance, can be used to track user interactions with campaigns like mobile marketing campaigns. Additionally, the data can assist advertisers in determining which in-app activities led to the user’s behavior.
Apple Removes the MT4 and MT5 Trading Applications
A spokesperson for Meta Quotes confirmed to Financial Magnates that the firm received a notice from Apple informing it that the company’s equity apps do not adhere to the App Store Assessment Criteria. Pc and Mac OS are supported by MT4 on web use. For mobile use, they also handle the iOS and Android operating systems. However, using MT4 on Mac OS is not supported by Meta Quotes. However, white-label brokers offer their clients personalized versions.
Reason Behind Removing MT4
Over the past several moments, there has been a lot of internet conjecture over the causes of Apple removing MT4 and MT5, with a lot of the conversation focusing on Apple eliminating other apps with connections to Russia. Although Renat Fatkhullin, the firm’s chief executive officer, and his brother Lennar Fatkhullin, the company’s director of marketing, are both Russians, Meta Quotes is situated in Limassol, Cyprus. Still, the company has its roots in Russia.
Another argument made is that the removal of apps for which Apple has received a particular number of complaints, either about the applications themselves or how they are used, is dependent on another contemporary Apple trend. How A Man Ended up losing $1 Million To A Crypto “Super Scam” Called Pig Butchering was the title of an article by Forbes senior software writer Cyrus Farivar that was accepted for publication.
Another development in the last few hours is the appearance of several “opportunists” seeking to exploit the circumstance. Many iPhones for sale with MT4 or MT5 fully preloaded are being advertised on Twitter for $5,000 and above. A variety of Meta Quotes rivals have also been proactive in putting advertisements for their competing trading platforms.
MetaTrader’s IOS Problem Draws Brokers’ Attention to Alternative Trading Platforms
Apple’s unexpected decision to remove MetaTrader 4 and MetaTrader 5 from its Application Store is a major setback for the top provider of FX trading platforms. The truth is that there were a growing number of claims against Meta Quotes, with the most prominent case being highlighted by Forbes. In that case, a major scam called “Pig Butchering” employed MetaTrader to deceive investors. According to Adam Dema, a spokesman for Apple, the firm is looking into complaints concerning MetaTrader and may take further steps to safeguard App Store customers if required.
Even though Meta Quotes is said to have taken independent action a few months ago, it appears that “further action” was nevertheless taken. The business allegedly made it more difficult for white-label service providers to sign up clients. Whether the problems with the iOS mobile apps will soon be fixed to the satisfaction of traders and brokers or whether Google will follow the pattern and remove MT4 and MT5 from its Play Store remains to be seen. Despite the decision being secretly made, it swiftly spread across the FX market, and brokers who’ve already put all their eggs in one basket are now trying to find alternatives.
Despite the long-standing tendency to flock to Meta Trader, many other options are available for brokers. In recent years, brokers worldwide have been working to broaden their inventory of trading platforms for various reasons. One of them is the admission that traditional platforms can’t keep up with traders’ expectations and technological advancements.
Although MT5 was introduced in 2009 to accommodate more trading products, MT4 was first made available in Russia in 2005. In September 2019, a study revealed that MetaTrader 4 continued to be the most widely used trading platform worldwide. In a decision that may be related to the Sanctions imposed over Russia’s invasion of Ukraine, Apple appears to have removed popular trading programs MetaTrader 4 and MetaTrader 4, often referred to as MT4 and MT5, from the Application Store overnight.
You can trade forex using any website and system software (Windows, Mac, or Linux) using the MetaTrader 4 on the web platform. Simply click to log in to your account and begin trading. An Internet connection is all you need. Since it is a standard component of the windows desktop, the MetaTrader 4 online version has all the benefits of the native solution. This guarantees the excellent dependability of the web platform and its interoperability with the full MetaTrader 4 system. The application is secure because all data sent over it is protected.