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Concerned about the MT4 ban? There is an alternative

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What happened?

The most popular platforms for over-the-counter trading in currencies and contracts for differences (CFDs) – MetaTrader 4 (MT4) and MetaTrader 5 (MT5) – are no longer available for download in the App Store, an Apple Inc. app store.

You can see that trading apps are not found by searching the App Store. However, they are still available on the Google Playstore.

Recall that MT4 and MT5 are developed by MetaQuotes, a leading software developer with a Cypriot residence.

A MetaQuotes representative reports that the enterprise obtained a message from Apple on Friday, September 23rd. It states that the applications do not meet the requirements of the App Store.

They were removed the same day.

“Apple has confirmed that users who download apps won’t be impacted. They will be able to use apps on their devices and make in-app purchases,” the company said.

MT4 and MT5 desktop applications work on Windows and Mac OS operating systems (only MT5 is available on Mac OS). They are also available for Android and iOS mobile devices.

Forex brokers working under the White Label program offer branded versions to their clients.

“According to the unilateral decision of Apple, which MetaQuotes cannot influence in any way, the MetaTrader 4 and MetaTrader 5 terminals for the iOS operating system have become unavailable for download in the Apple App Store as of today (September 24, 2022). We are taking all necessary steps to restore applications. Apps are not available only for new users, while previously installed mobile terminals will continue to function. To restore applications, we advise that new iPhone and iPad users utilize the MetaTrader mobile website terminals. The Android versions of MetaTrader are still accessible through the Google Play app store, so this move has no impact on them in any manner,” the developer says in a message to its users.

Sanctions do not matter?

MetaQuotes has Russian roots. In this regard, there have been speculations in the industry that Apple’s decision is related to Western sanctions against Russian companies and individuals.

However, MetaQuote denied such claims.

“We don’t think Apple’s actions have anything to do with Western sanctions against Russia,” a MetaQuotes spokesman said.

At the same time, the company confirmed that Apple’s decision led to severe losses.

“The elimination of applications affects not only the entities involved but the entire industry,” he said.

MetaQuotes is negotiating with Apple to clarify the issue and fix the problem. The company also said it is considering other options.

MetaTrader: an industry giant

The MetaTrader trading platform is considered the industry standard for forex and CFD trading applications.

The software enjoys years of support from the biggest players in the industry and remains the tool of choice for online retail traders.

The MT4 platform appeared in 2005, it was primarily focused on Forex. The new version – MT5 – was released in 2010. It also offers access to CFD markets.

According to the analytical department of Finance Magnates, MT4 and MT5 account for almost 79% of the trading software market (data as of 2020). In June 2021, MetaQuotes reported that MT5 had surpassed MT4 in popularity for the first time in its history.

MT4 Alternatives

If you still do not want to wait until everything is resolved and lose your assets, continue to invest and earn, you can turn to some MT4 alternative, since there are other forex brokers with high-tech trading tools on the market today.

It is important to note that MT4 is not a forex broker. MetaQuotes is a firm that creates a third-party platform for trading in the Forex market. You cannot execute real-time deals on the MT4 and MT5 platforms without first creating a live account with an FX broker. As a result of the MT4 and MT5 prohibition, forex traders might turn to platforms that provide innovative trading software and high-tech trading instruments.

Considered alternatives to MT4 and MT5, the leading trading platforms have developed suitable tools to ensure seamless account integration with other platforms. One such solution is to open an account with Capital.com (Best Mobile Platform/App of 2022 by Investment Trends) and use TradingView, one of the most widely used charting platforms, paired with a social network where traders may exchange ideas, user scripts to improve charts and exchange opinions.

You may link them to your trading account, just as with MT4 and MT5, and utilize the powerful charts to find chances in the international markets. For individuals who wish to advance their trading skills using cutting-edge trading tools and software, this is a potent mix.

! The information in this article is not intended to be financial advice. Make careful to conduct your own research while looking for MetaTrader substitutes before opening an account on a new platform.