Apple Removes MT4 & MT5 From Its App Store
MetaTrader 4 (MT4) and MetaTrader (MT5) can no longer be downloaded from the Apple App Store. MT4 and MT5 account for around 80% of the retail trading app market, so the move will affect a significant portion of brokers and traders. Fortunately, the applications are still available on Google Play and existing users will not be affected.
Trading Scams & Western Sanctions
MetaQuotes, the company behind the MT4 and MT5 trading apps, received a letter from Apple on September 23 stating that its applications do not comply with the App Store Review Guidelines. The technology giant then promptly removed both applications from its App Store, preventing any new downloads.
The unexpected move has prompted speculation in the industry. Some believe Apple is helping to crack down on the increasing number of scams being carried out via the MetaTrader apps. Others are asking whether MetaQuotes Russian origins and US sanctions have a role to play, though MetaQuotes has denied such claims.
An Industry Frontrunner
MetaQuotes is the leading software provider in retail forex and CFD trading. The company is based in Limassol, Cyprus, and has been operating since 2000.
MetaTrader 4 was introduced in 2005 and specialized in forex trading, while MetaTrader 5 went live in 2010, providing access to CFDs spanning stocks, indices, precious metals, energies, and futures, among other assets.
The firm’s MT4 and MT5 trading apps are offered by the majority of online brokers, including big names like Pepperstone, AvaTrade and Eightcap.
Both applications support Windows and Mac OS operating systems for desktop trading. The apps are also compatible with Android and iOS devices for mobile trading.
What Happens Next?
MetaQuotes has said it is liaising with Apple to try and resolve the situation. And while hopefully, its applications will be available for download again in the near future, the move may prompt brokers to consider or fast-track plans to develop their own, proprietary terminals.
Of course, the announcement will also benefit the software company’s competitors. Both brokers and traders will be looking for alternative solutions…
Alternatives To MT4 & MT5
cTrader is our top pick. Developed by the Spotware Systems group in 2011, the user-friendly application facilitates trading on thousands of financial instruments, from stocks and ETFs to commodities and cryptocurrencies.
cTrader offers three types of market depth and level 2 pricing. 54 timeframes are available on 5 different charting styles, including bar, candlestick, dots, line and area charts. 65+ built-in indicators and drawing tools are also integrated.
Additional features include cTrader Automate for algorithmic trading, copy trading capabilities, integrated news streams and economic calendars, plus the cTrader store where users can download thousands of custom-built add-ons, from heatmaps and indicators to bots and risk calculators.
The application is available as a free download from the Apple App Store. Use our list of the top cTrader brokers below to get started.
