MetaTrader Removed From Apple App Store | Why & What To Do Now?

On the 23rd of September, 2022, it was announced that MetaTrader 4 and MetaTrader 5 (MT4 and MT5) were removed from the Apple App Store. This left Forex Traders and iOS users perplexed, asking “Why was MetaTrader removed from App Store?”, “What is the best alternative to MetaTrader” and wondering what could be behind this sudden decision.

In this article we will explore the possible reasons for why this happened and offer the best alternative trading app to try out.

Update: MetaTrader 4 & 5 are now back on the Apple app store. Both platforms were reinstated on 6th March, 2023.

Contents Summary:

• What You Need to Know About MetaTrader
• What is MT4 and MT5?
• What happened to MetaTrader on the Apple App Store?
• Why was Metatrader removed from the Apple App Store?
• How did it affect users?
• What should IOS users do now?
• Benefits of cTrader mobile trading App

What You Need to Know About MetaTrader

There's no denying that the MetaTrader App, since its launch, has been a fundamental gamechanger in the Forex trading industry. MetaTrader 4 (MT4), developed in 2005 by MetaQuotes Software Corporation, gave traders more control and accuracy when navigating Forex markets than ever before.

MetaTrader 5 (MT5) was released a few years later in 2010 to upgrade its predecessor and further revolutionize the trading experience with technical indicators, customizable charting tools, and automated trading strategies.

MetaTrader's success since its creation has been notable; until recently, it had been offered across some of the leading Forex brokers across the world as an industry-standard platform for users to trade. But will that change after recent developments?

What is MT4 and MT5?

The two versions of MetaQuotes’ mobile MetaTrader App, MT4 and MT5, are incredibly popular among traders of every level, from novice to professional. Both offer a wide range of features, including charting tools, different time frames and Expert Advisors.

Although both MT4 and MT5 offer traders rich functionality, there are some key differences between them.

MT4 is most suitable for those looking for a simple trading platform, because of its limited number of technical indicators (about 30) and timeframes compared to others.

MT5 on the other hand, has been further developed, with greater functionality as well as the ability to trade in more markets.

What Happened to MetaTrader on the App Store?

MetaTrader users everywhere were left scratching their heads in confusion when in September 2022 the trading app suddenly disappeared from the Apple App Store. With MetaTrader being one of the most popular and secure applications in the world, it seemed a huge surprise that Apple had made this decision. The reasons behind the ban are still unclear, with various rumors flying about in online chat rooms.

Why Was MetaTrader removed from the App Store?

Both Apple and MetaQuotes have declined to offer an official statement as to why MetaTrader was removed from the App Store, however, many speculate that the ban could be due to MetaTrader not complying with Apple’s guidelines.

Others say that MetaTrader was removed from the App Store due to fraudulent third-party activity. A plugin called Virtual Dealer has been linked to scams, where some users have reported losses of over $1million, but MetaQuotes has not been proven to be connected to these scams.

Another speculation links Apple banning MetaTrader due to Cyprus-based MetaQuotes Russian founder and CEO Renat Fatkhullin, and the West’s sanctions on Russia, however a MetaQuotes representative quickly dismissed this claim. None of these speculations have been confirmed to be the true reason for the ban.

How Did MetaTrader’s Ban from the App Store Affect Users?

So how did this ban affect users? Well, while existing users still access MetaTrader through their iOS devices, they can no longer receive app updates. New users cannot find and download either MT4 or MT5 from the App Store, however former users of the app can go to the App Store on their device, go to “Account” and then “Purchases” and use the previously installed version.

Android users continue to use MT4 and MT5 on their devices without issues, and most brokers, such as TIOmarkets, support both MetaTrader platforms.

What Should iOS Users Do Now?

Alternative platforms are taking this as a warning to boost their security and advance their technology even further, and users are taking notice.

One of the best alternative platforms to use, Spotware’s cTrader, has been receiving high praises on TrustPilot, Quora and other discussion forums.

cTrader - The Best Alternative Mobile trading app

MetaTrader has been the trader's trusty platform for years, but cTrader has quickly come into its own, distinguishing itself in terms of user experience, and becoming a favorite amongst experienced traders and beginners alike. Beyond its slick design and intuitive interface, the cTrader mobile trading app offers several key benefits that other platforms cannot match.

For starters, the app is renowned for its speed, allowing users to make quicker decisions and minimize errors. cTrader also uses a superior charting package that includes advanced tools ranging from script builders to automated trading robots.

Its convenience and reliability don’t end there—as one reviewer put it:

“I am probably the biggest fan of this platform out of all the existing ones...When I started using this platform, I immediately had a question: why do many brokers still remain indifferent to such a trading miracle? Probably because all transactions are made on ECN, the broker’s profit will be limited only by the commission. This is probably why such a platform will be beneficial only to honest brokers. ” - Fernando Chandler (Review on Quora)

Benefits of cTrader App

MetaTrader certainly has its advantages, but the features offered by cTrader have made it an undeniable force in the world of online trading. Here is what you can do with it:

• Create an unlimited number of charts
• Choose from a variety of templates, modes and layouts
• Pick from a huge number of customizable indicators
• Write your own scripts.
• Share your experience and ideas through Chartshots and Chartcasts functions
• Set up quick access to your favorite trading instruments
• Take advantage of convenient one-click trading
• practice with a demo account, without risk
• Create your own cTrader advisors called Cbots
• Implement customizable hotkeys for scalping

Regarding security one reviewer shared:

“cTrader does not allow any plugins that allow brokers to manipulate prices in their favor.”

- Govanni Janssen (review on Quora)

For these reasons, cTrader is set to gain a stronger presence in the online trading space and probably become the best alternative mobile trading platform for iOS users.