MT4 and MT5 are blocked on European territory because it is a subsidiary of MetaQuotes Software whose CEO, Renat Fatkhuling works hand in hand with Russia. There have been reports of the European countries removing the app to freeze some of the Russian investors that are pouring their money into it.
It has been reported that MetaQuotes MetaTrader 4 & MetaTrader 5 – the biggest retail forex trading platform has been just removed from an Apple iOS store in what seems to be a retaliation of US Government is an alleged help the CEO of MetaQuotes has engaged (not confirmed) in helping Russian oligarchs to move funds outside of Russia. Android users can still access the platform via mobile.
The desktop version of MT4 and MT5 has not been removed yet and is still available, however the industry might expect a disruption shortly,
However, we starting to see major US regulated brokers stopping to offer MT5 to their retail clients via their websites.
Alternatives to MT4/5 in Case of a Long-Term Ban
Despite it’s domination in the world of Forex & CFD, MetaTrader is not the only game in town, for alternatives, take a look at the following standalone trading platforms, as well as proprietary to broker solutions:
Apple appears to have pulled popular trading apps MetaTrader 4 and MetaTrader 4, also known as MT4 and MT5, from the App Store overnight in a move possibly linked to the Western sanctions over Russia’s invasion of Ukraine.
Neither Apple nor MetaQuotes has publicly commented on the removal.
Both apps are available on on Google Play, the equivalent for Android phones, as of Saturday 9 PM AEST. The desktop versions also remain unaffected at the moment.
Check the difference between MT4 and cTrader platform here.
App versions of the popular PC electronic trading platforms are provided by MetaQuotes Software Corp., a Russian software company that also has registration offshore in Limassol, Cyprus.
There is no publicly accessible information about the beneficial owners of MetaQuotes besides CEO Renat Fatkhullin, who himself has always kept a low profile.
The United States and its allies, particularly the EU have imposed several rafts of sanctions targeting Moscow following Russia’s Feb. 24 invasion of Ukraine, including, targeting its central bank, major lenders, oligarchs, business elites and Russian President Vladimir Putin.
Visa and Mastercard suspended their operations in Russia, bank transfers and financial transactions have been banned.
Russian payment system Mir, which was only supported by a handful of countries outside Russia, was also dealt a heavy blow this week after suspension by banks in Turkey and Central Asian countries after the U.S. Treasury sent a letter to financial institutions warning they risked penalties if they maintained commercial ties with sanctioned Russian individuals or businesses, or any entity linked to them.
Apple stopped all product sales and suspended financial services, including Apple Pay in Russia in March.
MT4 was released in Russia in 2005 before MT5 came in 2009 to support more trading instruments. According to a study conducted in September 2019, MetaTrader 4 was still the most popular trading platform in the world at the time.
Quote from Twitter:
Some prop firms already take action and starting offering cTrader platform for their new traders, Finotive Funding just posted an update:
For Finotive Funding trading firm, we have an active 5% discount code: ”FOREXPROPREVIEWS”.
In the following article, you can check which trading platforms specific prop firms offers.
Traders on eBay have already started selling their iPhones with MT5 & MT4 installed:
We will update this article for more details related to MetaTrader soon. Last update 24.9.2022 at 22:56.