The MetaTrader 4 has been the iconic retail online trading platform for the past 17 years. However, both MetaTrader 4 and MetaTrader 5 have been removed from the tech giant Apple’s app store on the 24th of September, 2022, a shocking turn of events for the retail trading community.
The major reason for this ban could be due to the rising number of scams perpetrated by dodgy brokers with users filing complaints to Apple. The final nail in the coffin was most probably the recent article Forbes published on how one victim got scammed for more than a million dollars due to a manipulated MetaTrader. There was also wild speculation that this was directed towards the Russian-owned company MetaQuotes due to the ongoing sanction against Russia.
The app removal will affect the majority of retail traders since most of us use mobile trading. New users with Apple devices are not able to download the app anymore while those who already have the app will no longer be receiving updates. Without future updates, there are concerns that the current app may not be stable enough to support trading activities for years to come.
Considering the current situation, this is the prime opportunity for MetaQuotes’ rivals to compete for more market share. There are plenty of online trading platforms in the market but in our opinion, cTrader may very well be in the best position to expand its user base due to a variety of reasons.
cTrader has always been a well-known platform, although it didn’t shine as bright when MetaTrader 4 and 5 was garnering most of the attention from both retail brokers and traders. Now that they are both being restricted in the Apple ecosystem, they should take a bold stride and go all in, exploiting the opportunity that it has now.
And it seems like that is exactly what they are doing now with the latest release of version 4.4 that comes packed with practical features, extending on their current unique advantages that other platforms don’t have!
Our clients can still download mobile MetaTrader 4 and MetaTrader 5 from Google Play Store on their Android devices.
MetaTrader 4 and MetaTrader 5 are available to download for Windows PC.
FXPIG has been offering cTrader for well over 7 years now as we are one of the first few brokers who spearheaded cTrader adoption in the retail trading community. We believed in their user-oriented technology and distinct features that address the weaknesses of MetaTrader and other trading platforms.
FXPIG cTrader is available on:
Experience frictionless trading with cTrader. Raw spreads start from 0 pips on more than 300 instruments, with commissions as low as $2 per lot per side. 24/7 Crypto trading is available too.