Popular forex and contract for difference (CFD) trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), are no longer available for downloading on App Store, the online mobile store of giant technology manufacturer, Apple Inc.
Finance Magnates’ check shows that the trading apps do not come up when a search entry is done on the Apple App Store. However, they are still available on the Google Playstore.
MT4 and MT5 were developed by MetaQuotes, a leading software development company registered in Cyprus.
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.
The apps were pulled down on the aforementioned date, the software development company noted.
“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.
MT4 and MT5 support Windows and Mac OS operating systems for desktop usage. They also support Android and iOS operating systems for mobile use.
However, MetaQuotes does not support the use of MT4 on Mac OS. Nonetheless, white label brokers provide customized versions to their clients.
‘No Link to Western Sanctions on Russia’
MetaQuotes is said to have originated in Russia. As a result, reports suggest that its removal on Apple App Store may be connected with the Western sactions on Russian entities and individuals as a result of Russia’s war on Ukraine.
However, MetaQuote has dimissed such claims.
“We do not believe that Apple’s actions are linked in any way with the Western sanctions on Russia,” the MetaQuotes representative told Finance Magnates.
The representative, however, noted that the removal of the trading apps from the App Store has caused significant losses to the company.
“The removal of the Apps does not only affect the parties involved but also the industry as a whole,” the representative said.
MetaQuotes noted that it was liaising with Apple “in an effort to clarify the situation” and resolve the issue. The company further said it was considering other various options.
MetaTrader: An Industry Giant
Since its introduction, the MetaTrader trading plaform has grown to become a giant in the online forex and CFD industry.
The software has been enjoying decades-long patronage from industry stakeholders and remains a top choice for online retail forex traders.
While MT4 was introduced in 2005 and optimized for online forex trading, upgraded MT5 was released in 2010, offering access to additional CFD markets: stocks, indices, commodities, futures, energies, etc.
According to Finance Magnates Intelligence, MT4 and MT5 boasted a combined 78.7% share of the market at the close of 2020.
On June 7, 2021, MetaQuotes reported that MT5 became a more popular platform
than MT4 for the first time in history.
The developer reported at the
time that the number of lines of MetaTrader 5 codes exceeded 7 million while MT4’s numbered only 2 million.
Popular forex and contract for difference (CFD) trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), are no longer available for downloading on App Store, the online mobile store of giant technology manufacturer, Apple Inc.
Finance Magnates’ check shows that the trading apps do not come up when a search entry is done on the Apple App Store. However, they are still available on the Google Playstore.
MT4 and MT5 were developed by MetaQuotes, a leading software development company registered in Cyprus.
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.
The apps were pulled down on the aforementioned date, the software development company noted.
“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.
MT4 and MT5 support Windows and Mac OS operating systems for desktop usage. They also support Android and iOS operating systems for mobile use.
However, MetaQuotes does not support the use of MT4 on Mac OS. Nonetheless, white label brokers provide customized versions to their clients.
‘No Link to Western Sanctions on Russia’
MetaQuotes is said to have originated in Russia. As a result, reports suggest that its removal on Apple App Store may be connected with the Western sactions on Russian entities and individuals as a result of Russia’s war on Ukraine.
However, MetaQuote has dimissed such claims.
“We do not believe that Apple’s actions are linked in any way with the Western sanctions on Russia,” the MetaQuotes representative told Finance Magnates.
The representative, however, noted that the removal of the trading apps from the App Store has caused significant losses to the company.
“The removal of the Apps does not only affect the parties involved but also the industry as a whole,” the representative said.
MetaQuotes noted that it was liaising with Apple “in an effort to clarify the situation” and resolve the issue. The company further said it was considering other various options.
MetaTrader: An Industry Giant
Since its introduction, the MetaTrader trading plaform has grown to become a giant in the online forex and CFD industry.
The software has been enjoying decades-long patronage from industry stakeholders and remains a top choice for online retail forex traders.
While MT4 was introduced in 2005 and optimized for online forex trading, upgraded MT5 was released in 2010, offering access to additional CFD markets: stocks, indices, commodities, futures, energies, etc.
According to Finance Magnates Intelligence, MT4 and MT5 boasted a combined 78.7% share of the market at the close of 2020.
On June 7, 2021, MetaQuotes reported that MT5 became a more popular platform
than MT4 for the first time in history.
The developer reported at the
time that the number of lines of MetaTrader 5 codes exceeded 7 million while MT4’s numbered only 2 million.
