Is MetaQuotes Future Uncertain?

Contrary to using a MetaTrader 4 download pc installation link, news that Apple removed the MetaTrader 4 and MetaTrader 5 online trading platforms from its App Store made waves worldwide. This event was undoubtedly a major setback for MetaQuotes, a Cyprus-based software company focusing on the CFD market. Brokers and traders using iPhone and iPad devices also felt the impact of the removal. For many people, the ban came out of the blue.

As the events unfolded, the trading community wondered why Apple discarded the apps. MetaQuotes refuted claims that its apps had been removed due to the sanctions against Russia. On the other hand, social and mainstream media looked at the possibility that trading scams had contributed to the development. Cryptocurrency scammers used MetaTrader4 and 5 applications to target unsuspecting traders using a plug-in that allows account duplication and market price manipulation.

This revelation led some observers to question why MetaQuotes did not regulate the activities of its licensees when it comes to plug-ins. A plug-in like Virtual Dealer has dangerous features that allow a scammer to manipulate trades and dupe traders.

The fallout

MetaQuotes’ trading apps undoubtedly enjoyed market dominance, but if a software company fails to resolve this issue, it risks losing its pole position to existing or new apps. Brokers take advantage of these apps to offer quality trading experiences to traders. Without these applications, the broker’s work becomes compromised because new clients with iPad and iPhone devices cannot download the apps via the Apple App Store.

The situation is a lose-lose for MetaQuotes, brokers, and traders relying on the App Store to download and update the trading apps. Although the development is heavily problematic for new traders, current users who have already installed MT4 and MT5 can still use the apps to trade. Over time, MetaQuotes needs to find a lasting solution or lose clients and market dominance.

If MetaQuotes resolves the matter and complies with the App Store’s terms and conditions, MT4 and MT5 could return to the platform. Alternatively, the company can release multiple versions of the trading apps for individual brokers. In doing so, exposing the bad apples and getting them ejected from the Apple App Store without affecting trustworthy brokers and tarnishing MetaQuotes’ reputation becomes easier.

These measures could mitigate the damage faced by MetaQuotes following Apple’s ban. The failure to act quickly could force traders to look elsewhere, benefiting small players in the forex trading market. It is also possible for some brokers to consider developing new apps to replace MetaTrader 4 and 5. If such initiatives were to succeed, MetaQuotes would pay a huge price for the ban.

Is this a turning point for MetaQuotes?

One thing is for sure; something has to change at MetaQuotes. The changes could happen internally and help the company brush this current setback aside, or they happen externally, causing the trading software developer more pain.

The company has to look at the reasons for the ban and formulate remedial strategies. For instance, there must be a solution for the manipulation problem triggered by the dangerous plug-ins used by unscrupulous brokers. MT4 and MT5 license holders assume control of the applications’ code base. As a result, some brokers alter the code using plug-ins like Virtual Dealer. This practice leads to price manipulation and other dubious activities.

Regulated brokers typically cannot manipulate the platform, thanks to regulatory oversight. For this reason, traders do not risk losing money due to manipulation. A manipulated platform can turn winning trades into losing ones. Given this background, MetaQuotes must convince Apple Inc., brokers, and traders that none of these shenanigans can take place in MT4 and MT5 apps.

Robust interventions can win back users’ and Apple’s confidence, allowing MetaQuotes to bounce back and retain its prominence in the forex trading market. On the other hand, the company must act quickly and decisively to prevent a ban on Google Play.

If these efforts do not materialize soon, brokers must direct new traders to the web-based platforms.

MetaQuotes corporate background

Founded in 2000, MetaQuotes is a leading developer of well-designed software applications for exchanges, brokerages, and financial institutions. MetaTrader 4 and 5 are the company’s flagship apps. These multi-asset trading platforms have raised the software developer’s profile globally.

Its platforms are easy to use and efficient. Brokers in the forex trading market embraced the apps for their simplicity, high performance, and affordable license fees. As such, MetaQuotes has the talent and expertise to find a lasting solution to the Apple App Store debacle. For this reason, the company should bounce back and retain its pole position in the CFD trading space.