MetaTrader Banned from the Apple App Store: Are There Solutions? Market Pulse

2023. 01. 17.
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FXTM is a well-established broker with Forex trading platforms for Mac offering the lowest trading fees. Commission-based minimum costs range between $0.80 and $4.00 per round lot. The proprietary FXTM Trader only has one rating on the Apple App Store with a 5.0 rating. It requires iOS 14.0 or later, ensuring accessibility for most, or macOS 11.0 or later with an Apple M1 chip. WebTrader offers https://www.xcritical.com/ real-time insights into price movements or any changes that happen when you are not trading. You can easily access to charts and graphs that are constantly being updated.

Which Trading App is a Good Alternative?

The user-friendly MT4/MT5 mobile apps, the highest-rated trading apps on the Apple App Store, require an iOS 11.0 operating system or later, which ensures widespread availability. The MetaTrader platforms allow mt4 alternative Mac traders to trade Forex with industry-leading trading platforms, fully supportive of algorithmic and copy trading. CTrader is developed by UK-based financial technology company Spotware Systems. Like MetaTrader, cTrader is a complete trading platform solution for Forex and CFD brokers to offer their traders.

Our award-winning web platform and app

My initial review is below.I just discovered this app earlier today, and I’m loving it so far. Let me say I very seldom write app reviews, but I wanted to take a moment to thank the developers for it being Voiceover accessible. It is a bit clunky to change information presented on the screen (switching to the technical data for example), but it is doable and certainly not a dealbreaker. I’ve only had a situation once where an ad came up and I could not get out of it so I had to close the app and reopen it. I love that the values for all of the technical indicators are presented numerically. The Your Bourse free account allows users to test the latest feature releases added to the platform’s toolset.

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Their commitment to affordability and dependability makes them a preferred choice for businesses looking to navigate the complex fintech landscape. With the rapid advancement of technology, brokers who rely on MetaTrader 4/5 must adapt to survive in this evolving landscape. One effective strategy is to explore new white-label solutions that incorporate the latest features and functionalities. In September 2022, Apple removed MetaTrader from the App Store due to compliance issues. Additionally, the fast growing crypto market and decentralized exchanges, is prompting users to explore the best MetaTrader 4/5 alternative options.

• FirstByt distinguishes itself by providing comprehensive fintech solutions that are not only cost-effective but also backed by technical innovation, ensuring robustness and predictability  in their offerings.
• MT4 seems to be the most commonly used with multiple prop firms, which is why I use and recommend it.
• Active Trader Pro, offered by Fidelity Investments, is a robust trading platform designed to empower active and advanced traders with comprehensive tools for portfolio management and online trading.
• If you only have an iOS device and do most of your day trading from it, you will have to consider a few available options.

Forex Trading Platforms for Mac

The best Forex trading platforms for Mac, like the choice between Mac and Windows, depend on user preferences. The MT4 and the MT5 trading platforms have the highest ratings on the Apple App Store, both clocking in at 4.8 out of 5.0, with MT4 supported by more ratings. There is a lot of back and forth between Mac and Windows users, but it ultimately depends on individual preferences and how traders use either trading setup.

What Difference Does a Mac Make in Forex Trading?

VT Markets has more than a thousand CFDs tracking the world’s most traded markets. Trading is low-cost, thanks to variable bid/ask spreads that approach 0 pips. You can also take advantage of promotional offers, such as a deposit bonus, to increase your capital.

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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. This is not the first time MetaQuotes has encountered issues with app stores. In September 2022, a similar ban was imposed on MT4 and MT5 apps in Apple’s App Store globally, with the ban lifted after nearly six months following extensive negotiations. MetaQuotes successfully demonstrated compliance with Apple’s requirements, leading to the reinstatement of its apps. You can use a laptop or desktop with a PC, Mac, or Linux OS to download the full version of MT4. Obviously, for many traders, the primary feature is the ability to stay connected to markets once you step away from your desktop.

You will see that their range of products is quite large, with over 2,000 assets available for trading. ForTrader is an iPhone / iPad ready trading app developed by the internationally licensed brokers ForTrade. Among the 10% of online brokers that are licensed and regulated, a few of them are large enough to have actually developed their own trading platform. The most obvious advantage is that they allow you to directly manage deposits and withdrawals through the application. Brokers also sometimes offer some bonuses and benefits to incentivize their clients to use their mobile apps.

There has been a lot of speculation about the reasons for the MT4’s removal from the App Store, the latest being a $1m crypto cyber scam, as reported by Forbes. Initially, it was claimed that the move was linked to the Western sanctions on Russia, but this claim has been refuted. Although the MetaTrader4 and MetaTrader5 ban shocked the market, it didn’t create an unresolved problem. Traders can still trade on MT4 and MT5 desktop terminals or utilise the mobile application if they are an Android user. Moreover, they may leverage potential alternatives to give an edge to their Forex trading journeys. The trading community was shocked when Apple announced the ‘MetaTrader ban’ on the Apple App Store.

A recent study showed that Mac devices are twice as likely to get a virus than Windows devices, but most are due to user errors, like clicking on infested links. The eToro app has a 4.7 out of 5.0 rating from 182 user ratings in the Apple App Store, making it one of the highest rated. It requires iOS 11.0 or later, ensuring accessibility, or macOS 11.0 or later with an Apple M1 chip. Windows operating systems continue to dominate the PC and laptop market, with an estimated market share of 70%, down notably from 90%+ over a decade ago, with Apple’s Mac system clocking in just above 17%. While each platform has its undeniable advantages when it comes to desktop trading – WebTrader is perfect for people who want a simple user experience.

For over a decade, these platforms have been the go-to for traders in traditional markets. And speaking of leading brands, we cannot ignore that many of them offer their own mobile apps. While only the biggest players in the industry have the resources to develop their own web or desktop-based trading software, proprietary mobile apps are relatively common.

69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. We have the world’s best trading platform and app1 – and it’s free to use. You can download it from the iOS App Store as well as Google Play and use it on your desktop or mobile. We have covered many broker reviews here where this platform is accessible to them, as well as the ones we will mention below, including a proprietary mobile app. Additionally, Apple sent a letter on Friday, the 23rd of September, to a MetaQuotes representative, according to a report in Finance Magnates.

MetaQuotes has taken lengths to resolve these vulnerabilities, and Apple must be satisfied with their efforts. Lastly, if you are still wanting to use your iOS device, then perhaps a change of pace in choosing a new broker that supports an in-house mobile trading app is your best bet. If you are still using mobile MetaTrader and your broker doesn’t have an in-house mobile trading app like this, then it may be in your best interest to look for a broker (like ZFX) that does. This will be especially true if you are not wanting to consider trading on Windows or Mac. ProRealTime excels in advanced charting and technical analysis tools, making it ideal for traders focused on detailed market insights and strategy development. However, its interface can be less intuitive, requiring a learning curve for new users.

Additionally, customer support has been criticized for slow response times and difficulty in resolving technical issues. OANDA offers a clean and easy-to-use interface, but it has some significant drawbacks. The web app does not allow orders to be sorted in descending order, making it cumbersome to view the latest orders. This requires clicking through multiple pages, which is particularly frustrating for users with many transactions.

Many Forex traders using Mac prefer the MacBook Air, which suffices for hobby traders but fails to cater effectively to those with more demanding requirements. MetaTrader 4 is one of the most popular trading platforms in the world and is still used by both retail and professional traders. The reason is alleged non-compliance with guidelines by the developers of the MetaTrader 4 mobile apps. Currently there is no way to install MT4 app on devices running Apple’s iOS. If you’re looking for a quality mobile app for trading on financial markets, WebTrader could be a suitable replacement.

MetaTrader has been used for decades by industry stakeholders and is still the best choice for online retail forex traders and all other day traders alike. In contrast, MetaTrader 4/5, while solid in their track record, face criticisms for their complex interfaces and aging designs. Modern traders increasingly prioritize platforms that offer simplicity, user-friendliness, and accessibility to diverse asset classes, including cryptocurrencies and decentralized finance (DeFi) opportunities. FirstByt addresses these demands with intuitive user interfaces, comprehensive custody solutions, and compliance tools like KYC/KYT, essential for regulatory adherence. Customer service is slow, often resulting in delayed responses and difficulty resolving issues. Additionally, the platform’s spreads can be higher than competitors, potentially impacting profitability, especially for frequent traders.

Plus500 ranks among the Forex trading platforms for Mac with the broadest choice of Forex options. Popular forex trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), have been reinstated in the Apple App Store after being banned from iOS in September 2022. Most brokers have their own proprietary trading apps that they offer in addition to MT4 and MT5.