MetaQuotes and Apple, at the time of writing (5 October 2022), have yet to release any concrete statements. Will traders adapt to the situation and go for alternative platforms? Or will MetaQuotes adhere to future guidelines provided by Apple and be re-listed on the App Store?
- Recently, there was a scam going on involving the MetaQuotes apps MT4 and MT5.
- While MetaQuotes is based in Cyprus, the company’s owners are Russian.
- The software has been enjoying decades-long patronage from industry stakeholders and remains a top choice for online retail forex traders.
- In fact, during the past 3 years, we’ve achieved 100% system
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How Did the Ban Affect Traders?
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. It is unclear if the end of the war is going to bring back these apps to the AppStore.
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. If this was the reason for Apple to delete the app, there is a high possibility that this is just a temporary ban. It was revealed that Apple had removed both the Meta Trader 4 and Meta Trader 5 platforms from the AppStore.
Are there Alternative trading apps to MT4 and MT5?
Meta Trader 4 and Meta Trader 5 have always been compatible with most Android and Apple devices. They were available on both the Play Store and the AppStore so that the majority of users would be able to access their services. The impact will really be
felt over the longer term if brokers can no longer offer the platforms to new
clients. YamaTrack Service App allows service providers complete management of their YamaTrack fleets through a simple to use app. Now with a single app you can set up a new YamaTrack fleets, view YamaTrack system information, and remotely add, remove, or swap YTX / YTR devices.
Please keep in mind that it will void your phone’s warranty and make it difficult to upgrade to newer versions of iOS, so probably not the best solution. While MetaQuotes is based in Cyprus, the company’s owners are Russian. This has led to speculation that the move by Apple might be connected more to the situation in Ukraine than security reviews. That’s quite a stretch, though, and it does make some pretty sweeping assumptions. Company ownership and white label policies are more plausible reasons behind the move. The fact that the scammers chose MT4 had nothing to do with MetaQuotes.
Plug-in Scams
As a Business Expert, you help them learn about Apple products and explore various possibilities. You’re part of a team that’s passionate about helping businesses succeed. With your understanding of business needs and enthusiasm for Apple, you find great satisfaction in offering powerful, innovative solutions to each customer. I started trading and became familiar with cryptocurrency and forex in 2015. Later, I continue to share market information on online platforms to educate others.
This is entirely because we’re not yet sure if this was the reason why Apple banned these apps in the first place. However, we are to expect a statement from either parties soon if it were the case. So who exactly is impacted by this recent removal of the Meta Trader 4 and Meta Trader 5 from the AppStore?
Risk Warning
The second reason is thought to be related to some complaints about MetaTrader in the App Store. Complaints about MetaTrader arose because recently a viral article appeared written by a senior technology writer from Forbes named Cyrus Farivar. The article is titled «How One Man Lost $1 Million On A Crypto ‘Super Scam’ Called The Pig Butchering». The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds.
This is at least for the time being, till Apple reintroduces the MetaQuotes apps. MT4 and MT5 are such incredibly popular forex trading platforms that any hint of disruption can be a bit of a scare. Some were worried that Apple’s decision was just the beginning and forex brokers may cease their partnerships with MetaQuotes. This didn’t happen, however, although many brokers did look to add other platform options.
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