The MetaTrader 4 (MT4) and MetaTrader 5 (MT5) apps are back up on the Apple App Store. Traders can download the iOS applications with zero restrictions. The popular third-party forex and CFD platforms were delisted in September 2022 following links to unlicensed brokers based offshore.
A Sudden Ban
Cyprus-based MetaQuotes was dealt a heavy blow when Apple removed its trading applications from the app store nearly six months ago.
The unexpected delisting came after Apple received an increasing number of complaints from MT4 and MT5 users who held accounts with untrustworthy brokerages operating offshore.
Many of these brands had no direct business relationship with MetaQuotes. Instead, they were renting the platforms from firms providing white-label solutions without the hefty MetaTrader licensing and maintenance fees.
MetaQuotes has spent the last few months convincing the technology giant that it will do more to inspect the brokers that can provide its trading applications. Essentially, unscrupulous brokers will be unable to offer trading on the MT4 and MT5 apps.
MetaQuotes CEO, Renat Fatkhullin, commented: “We are happy that the situation has been resolved, and we managed to find an understanding with Apple”. Fatkhullin added: “Our company respects the requirements of any marketplace and always strives to meet them. We feel responsible to our users, and, therefore, we did our best to provide clarifications on the issues raised from Apple in a timely manner.”
The Search For MetaTrader Alternatives
Unsurprisingly, brokers rushed to find alternatives for their iOS traders in the wake of the ban, with many firms turning to solutions like cTrader. Several competitors boosted their marketing budgets and confirmed an uptick in usage in the months that followed the delisting.
However, to maintain its dominance in the third-party retail trading platform space, MetaQuotes concentrated efforts on its browser-based terminal. In November the company went live with a new MetaTrader 5 web solution, pointing out that mobile traders don’t need to download an official app.
MetaQuotes also released a messaging, news and analytics app last month, MQL5 Channels. Available from the Apple App Store and Google Play, the application can be used to collaborate in group chats while sharing videos, images and documents.
So whilst alternatives to MetaTrader may have gained traction in recent months, MetaQuotes isn’t down and out. With its flagship applications back up on the Apple App Store, alongside new products, MetaQuotes remains a leading player in retail trading software.