MetaTrader 4 and MetaTrader 5 reinstated to Apple Store after months of suspension
“We feel responsible to our users and therefore we did our best to provide clarifications on the issues raised by Apple in a timely manner. I also want to thank the traders, brokers, and media, who actively showed their support.”
MetaQuotes has announced that the iOS versions of its flagship products, MetaTrader 4 and MetaTrader 5, were reinstated after being suspended for months due to security concerns and several fraud cases using MT4/5.
According to the trading software developer, during the lengthy process of restoring the apps, MetaQuotes communicated to Apple extended explanations surrounding operational technicalities and provided further insights as requested.
“We managed to find an understanding with Apple”
All matters have been resolved and the iOS applications of MetaTrader 4 and MetaTrader 5, fully compliant with Apple’s requirements, are now available for download from the App Store, the firm stated.
Renat Fatkhullin, CEO of MetaQuotes, commented, said: “We are happy that the situation has been resolved and we managed to find an understanding with Apple. 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 by Apple in a timely manner. I also want to thank the traders, brokers, and media, who actively showed their support.”
The suspension of MT4/5 from the Apple Store was one of the hottest topics of 2022 and led many brokers to reevaluate their reliance on one single trading platform provider. The popularity of MetaTrader led to standardization, making it easy and cheap to set up the technology part of a brokerage. This helped create a large FX/CFD retail market that opened up trading to everyone.
This, however, has weakened brokers’ differentiation capabilities which is an increased risk for them. It also led to more bad actors, who churn clients via lead lists because clients are loyal to the platform, not the broker.
Apple was never public about the reasons for suspending the products by MetaQuotes, but it came on the heels of extensive reporting and police investigations about FX scams using MT4 and MT5.
One of the most high profile cases was covered by Forbes in September 2022 about super scam ‘Pig Butchering’ and how it used MetaTrader to defraud investors. Apple spokesperson Adam Dema told Forbes the company was investigating complaints about MetaTrader and would take additional action to protect App Store users if necessary.
Prior to the suspension, MetaQuotes was reportedly trying to tackle the abuse by making it harder for white-label providers to onboard clients.