It’s not uncommon for established platforms or industry leaders to be dethroned. However, sometimes they come back even stronger than before. MetaQuotes Software’s MetaTrader 4 and MetaTrader 5 trading apps have made a return to Apple’s app store after being removed in 2022. This comeback of the MetaTrader platform is expected to have a significant positive impact on fintech professionals and traders. Brokerages and traders are thrilled about the apps’ relisting on iOS.
Founded in 2000, MetaQuotes was one of the oldest and largest platforms in the industry by late 2020 and was an industry leader in the forex trading markets. Together MetaTrader 4 and 5 held a 78.7% share of the market and had a total of over 9 million users. However, in mid-2022 Apple removed the apps from its app store, saying that they didn’t follow its guidelines. The exact cause of the removal was unclear, and the move by Apple caused a lot of anxiety among the trading community, especially in the forex market where MetaTrader platforms were dominant.
The global forex or foreign exchange (FX) market was worth $753 billion in 2022. As Benzinga.com says, it is expected to be worth $1.1 trillion by 2028, growing at a compound annual growth rate (CAGR) of 7% between 2023 and 2028.
The Welcomed Return of MetaTrader
Now the MetaTrader portal is back. After a six-month hiatus, both MetaTrader 4 and 5 apps are now available to be downloaded from the Apple store again. During this interval, the MetaQuotes developers did a total renovation and restoration of the apps to create a premier solution for traders and brokers alike.
The return was hailed with excitement by fintech professionals, with major trading outlets running the story and welcoming the relisting of the apps. Online brokerage Vantage welcomed the apps’ comeback after what it described as a “long-awaited 6 months,” while financial review site 55brokers called the news “a welcome development.” Social networks were also buzzing with excitement around the announcement. On the social network platform, Forex Factory, users expressed their happiness that the platform was available through iOS once again. The popular subreddit housing the Forex trading community had a thread filled with traders enthusiastically welcoming MetaTrader’s return.
One concern that had previously hovered over MetaTrader in 2022 was how some scammers were exploiting the apps to steal large sums from traders. In a public statement on the relisting of MetaTrader 4 and MetaTrader 5, the company shared that it had talked extensively with Apple about operational technicalities and that its apps were “fully compliant with Apple’s requirements.” To address security concerns, MetaQuotes has now completely redesigned its platform core for maximized user protection and security.
Other updates to the platform include a simplified interface, charts that display economic calendar events and market entries and exits, and configuration in Market Watch symbols. With its top-of-the-line security updates, as well as its new and improved features, MetaTrader’s popular brand will once more be an exciting option for fintech professionals looking to trade on forex and exchange markets.
CEO Of MetaQuotess, Renat Fatkhullin, commented on the news: “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.”