MetaTrader enables scammers to show victims fake earnings, a key element of a pig butchering scam. The abrupt disappearance raised questions about the underlying reasons. Speculations ranged from concerns over fraudulent activities to geopolitical tensions, though MetaQuotes has refuted claims linking the removal to Western sanctions against Russia. You can open a live account at FXOpen to try MetaTrader 4, MetaTrader 5, and TickTrader platforms. Traders can manage their trades directly through the platform or by using FIX, REST, or WebSocket API.
For sophisticated traders, the well-known broker TD Ameritrade offers thinkorswim, which is a trading platform with a wide range of advanced tools suitable for complex trading. Aside from stocks, the platform supports a bunch of other asset classes including forex, ETFs, mutual funds, bonds, and futures. It is important to understand that MetaTrader is only a third-party trading platform that connects to a broker. This means the platform only offers licenses for its software but the actual trades are enabled by brokerages. So, without a live trading account, traders won’t be able to make any transactions on the platform.
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This incident is not isolated; it echoes a similar situation that occurred when Apple removed these popular trading apps from the App Store overnight. This article delves into the implications of these developments, offering a forward-looking perspective on the evolving digital trading infrastructure. Although it initially seemed a significant problem, traders who have MetaTrader installed on their devices can continue using the app with the only limit — they can’t get any updates or new features. The MetaTrader ban has surprised traders, especially considering how convenient these platforms are for online Forex trading. As suggested by Finance Magnate’s Quarterly Intelligence Report of Q2 of 2022, MT4 and MT5 together covered 83% of the market share of overall online trade transactions. The trading community was shocked when Apple announced the ‘MetaTrader ban’ on the Apple App Store.
MetaTrader five is a powerful and versatile trading platform that has gained popularity for its advanced features and user-friendly interface. It offers traders a wide range of functionalities, including live market quotes, interactive charts, and an extensive selection of technical indicators. The platform also supports automated trading through its Expert Advisor feature, allowing users to create and implement their own trading strategies.
Anyone know why mt4 / mt5 were removed from the app store?
This terminal assists traders who don’t want to waste time waiting or who wish to try high-frequency trading, scalping, or both to benefit from quickly changing markets. Social media has been abuzz this weekend, with reports that at some point late this past week Apple removed the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading apps from its App Store. As an Apple user, I believe it’s practically impossible to download the app from anywhere other than the App Store. Trying to get it elsewhere might be tempting, but it’s a huge risk—could end up with a virus or something trying to snatch your data. On the flip side, apps from the App Store are like Fort Knox, 100% safe from viruses and trojan horses. We can hope that MetaQuotes will reach a consensus with Apple, but there is no guarantee that that will really happen.
- It remains to be seen whether the issue with the Indian Google Play Store can be resolved in a similar manner or if regulatory pressure from the authorities will prove too significant.
- “The providers, that are not dependent on MQ, will certainly participate in the redistribution and will onboard all the MQ refugees,” commented Evgeny Sorokin, the Chief Product Officer at Devexperts.
- This is at least for the time being, till Apple reintroduces the MetaQuotes apps.
- “We are happy that the situation has been resolved, and we managed to find an understanding with Apple,” said Renat Fatkhullin, the CEO of MetaQuotes, .
- The software is synchronized with MetaTrader and allows you to freely carry out trading activities.
On the iPad MT4 can you allow “Objects” & “indicators” to sync on the other charts that are open? I believe you should go ahead add those on, I’m telling you it will improve everything overall of MT4 mobile and it’s users also. Even if you don’t want to do it for free, maybe add that like an for “Paid App” option if you looking to make some revenue off of it, but either way. Another possible reason put forth is based on another recent Apple trend, of removing apps for which Apple has received a certain amount of complaints, either regarding the apps themselves or how they are used. CTrader has a wide range of chart modes available, including single-chart, multi-chart, and free-chart.
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But apart from that, neither MetaQuotes nor Apple has made a formal statement regarding the specific reasons for the ban. Another popular scam going around involves Plug-ins with the Meta Trader apps. MetaQuotes is known to be very lenient when it comes to some hacks and cheats people do on their app. They usually turn a blind eye when they see people doing illegal activities or scams on the app.
I’m not sure if they provide all the markets I’ve tried to find some like some futures and stuff like that but no luck. Even some that are provided on the app are just there to look at I guess but it cant be traded. In the world of online trading, MetaTrader has been a trusted companion for many traders.
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MetaQuotes has taken lengths to resolve these vulnerabilities, and Apple must be satisfied with their efforts. While the exact reasons for the removal remain unclear, the prevailing speculation ties it to the Republic Bank of India’s (RBI) stringent stance against unregulated forex trading. In November 2023, the RBI issued warnings to 75 unauthorised entities for operating without proper authorization. This move is part of a larger effort to regulate the forex trading market in India, which has seen a surge in unregulated activities posing risks to retail investors.
Yeah, it’s a bit limiting with our Apple software, but sometimes you gotta play by the rules. At the end of the day, it is important to understand that the financial industry is highly dynamic and businesses need to be flexible in order to survive. The removal of MetaTrader apps is certainly huge news in the trading world, but it is not the end of everything. Meanwhile, Android users can continue using the app normally as the apps are not banned on Google Play Store. The desktop version is also still fully available and hasn’t been affected at all.
As Forbes previously reported, MetaTrader, which offers licenses for its software, does enable legitimate trade by actual brokerages. It is an agnostic trading platform, one that is used by mainstream foreign exchange traders like Oanda. Everything looks and feels real, but it’s all a fabrication,” according to a report from GASO. The ban on the MetaTrader apps has certainly taken the global trading community by surprise, especially considering how popular mobile trading these days. Even though Apple users who have already downloaded the app can still continue to use them to trade, they won’t be able to get any future updates or fixes. Founded by MetaQuotes in 2005 and 2010 respectively, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have grown into two of arguably the top choice of trading platforms in the industry.
The removal of MetaTrader apps from the Google Play Store in India has significant implications for the trading community. Traders have been forced to seek alternative platforms, leading to disruptions and a potential temporary slowdown in trading activities. This situation also highlights the challenges trading platforms face in navigating regulatory environments across different markets.
“The regulator wants lenders to further ensure that Know Your Customers norms for all parties in such transactions are strictly followed.” Considering that, according to Statista, 95% of people in India use Android devices rather than iOS, this could pose a significant problem for the local investment industry. While specific reasons for this decision are hard to find, recent actions by the local government and the What Is A Cryptocurrency Wallet central bank, which have repeatedly warned against the activities of unregulated brokers in 2023, may offer some clues. For a five month period starting in September 2022, neither MT4 or MT5 were available in the App Store. But as of March, 2023, both MT4 and MT5 are once again available after MetaQuotes successfully addressed Apple’s concerns about how scammers were able to manipulate the trading platforms.
After opening an account in eToro, traders can invest as little as USD250 in an ETF that costs USD500. Some of the popular ETFs on eToro include SPY, VXXB, TLT, and HMMJ. If Apple found out about this download scam, there is no doubt that they would remove the Meta Trader applications from the AppStore in order to teach the creator a lesson.