MetaTrader Banned on Apple's App Store. What Does This Mean for Brokers?

At X Open Hub we‘ve been closely following this week’s developments surrounding MetaTrader and Apple.

Without any prior notification or formal announcement, Apple removed the MetaTrader 4 and MetaTrader 5 online trading platforms from its App Store.

That means iOS-based devices can no longer download the MT4 and MT5 apps.

Although the reasons behind the move have not been clarified, it is believed that the removal of the platforms could be due to several scams reportedly implemented through these platforms.

How Does the Ban Impact Brokers？

The news of Apples latest move slowly filtered through social media, followed by mainstream media.

Buzz around the ban is due to the immense popularity of MT4 and MT5, which together account for 83.8% of the total online trading platform market share, according to Finance Magnates Quarterly Intelligence Report for Q2 of 2022.

Although iPhone and iPad users who have already downloaded the trading platforms can continue to use them, they will be unable to access updates, upgrades or fixes.

The impact will really be felt over the longer term if brokers can no longer offer the platforms to new clients.

Brokers are hopeful that MetaQuotes will be looking at ways to resolve the situation. For now, brokers can offer the web version of the platforms. Alternatively, Apples move could push brokers to look at other trading applications or even consider developing their own platforms.

While the MetaTrader ban is big news for the trading world, it doesnt necessarily need to be bad news.

It provides an opportunity for brokers to take a fresh look at the latest technology solutions available in the market.

Breath of Fresh Air

The financial industry is an extremely dynamic one, and businesses need to be flexible to thrive (and survive) in this landscape. Customer expectations are constantly changing, as is the regulatory scenario.

In the meantime, technology is advancing in leaps and bounds to bring cutting-edge tools that can help brokers set themselves apart from the competition.

This is where X Open Hub, excels. Weve spent years perfecting our web and mobile apps to give brokers the edge they need to attract and retain retail traders.

Our XOH Trader platform, with both web and mobile app versions, is a powerful and intuitive HTML5 platform that delivers high performance, reliability, and speed across browsers and mobile operating systems, including Android and iOS.

Its highly customisable, enabling brokers to offer their clients a complete fully branded platform and multi-asset trading experience.

It also has dedicated, branded web and desktop options, along with a fully open front- and back-end API. The result is the lowest latency and highest throughput in the industry.