Why did Apple remove MT4 from its App Store?

MetaTrader (MT4) is without doubt one of the most widely used trading platforms in the world. Since its launch by MetaQuotes Software Corporation in 2005, MT4 continues to expand its reach, with millions of traders globally using it for its advanced features and technological innovation.

However, in 2022, the platform found itself dealing with an unanticipated challenge when Apple removed both MT4 and MetaTrader 5 from the App Store.

This decision by Apple saw many iOS users being unable to download the apps. This led to confusion and raised concerns about whether the applications would return to the iOS platform in the future.

Rumours were rife as to why Apple removed MT4 from its App Store. While MetaQuotes was said to have received notification from Apple that its trading apps did not comply with the App Store Review Guidelines, the exact reasons behind the removal remained vague, with MetaQuotes releasing very little by way of feedback.

This fueled speculation that the decision may have been influenced by broader compliance or regulatory concerns. MetaQuotes did however release a statement rebutting any connection between the removal of its apps and Western sanctions imposed on Russia following the country’s war on Ukraine.

MT4 vs Apple: Public reaction

The delisting of MT4 from iOS devices undoubtedly impacted traders and brokers across the globe. Those with the app already downloaded on their devices were able to continue using it, provided they didn’t delete the app or update their iOS version.

Traders who did update their iOS devices and attempted to reinstall the app found that they were no longer able to download MT4, thereby having to rely on the desktop version or look for app alternatives.

Brokers on the other hand had to deal with the fallout from Apple’s decision, responding to an influx of queries from clients who could no longer access the MT4 app. The removal undoubtedly impacted the customer experience, especially given the widespread popularity of MT4 as a leading platform in the industry.

Return to App Store in 2023

On 6 March 2023, MetaQuotes announced that, “MetaTrader 4 and MetaTrader 5 Apps have been reinstated and are available for download from the App Store.

During the lengthy process of restoring the Apps back in the App Store, MetaQuotes has communicated to Apple extended explanations surrounding operational technicalities and provided further insights as requested.

All matters have been resolved and the iOS applications have been reinstated to the store. Our applications are fully compliant with Apple’s requirements.

What makes MetaTrader 4 so appealing?

Since its inception in 2005, MetaTrader 4 remains a preferred trading platform for traders globally, particularly forex traders. Even with the introduction of MetaTrader 5 in later years, MT4 continues to enjoy growing user adoption, primarily due to its easy-to-use interface, sophisticated analytics tools, and the capability for automated or algorithmic trading. More specifically:

User-friendliness

MetaTrader 4 is an incredibly easy platform to use. Its design can be customised to meet the requirements of individual traders. This makes it especially popular among among those new to trading who want a platform that minimises the confusion that often comes with getting accustomed to new technology.

Technical analysis

MT4 is also incredibly well-known for its top technical analysis capabilities. This consists of:

• 30 built-in indicators, more than 2000 free custom indicators, and 700 paid indicators, allowing for all types of market analysis, regardless of how complex.
• 24 analytical tools which can be manually applied to charts and indicator windows. These are useful for spotting price trends and establishing support and resistance levels.

Order types

MetaTrader 4 also supports the execution of different order types. These include market orders, pending orders, stop orders, and trailing stops. The platform offers 3 execution modes too, namely instant, request, and market, allowing users to select the one that best suits their particular trading situation.

Market orders are carried out immediately, while pending orders are triggered when specific market conditions are met. Stop orders like take-profit and stop-loss orders are also there to lock in profits and limit losses, thereby helping traders protect their money as much as possible.

MT4 Automated trading

Regarding automated (algorithmic) trading, this is probably one of MT4’s most powerful features. The functionality allows traders to create, test and utilise Expert Advisors (EAs), also known as trading robots, along with technical indicators.

EAs are programs that execute trades based on pre-defined rules and criteria. Being an automated functionality, an unprecedented number of trades can be executed, more than any human could possibly achieve, at an incredibly quick speed and with high accuracy.

This is not to say that automated trading is without risk, it absolutely is, which is why risk management measures must be implemented to mitigate losses.

What is it about MetaTrader 4 that make it a preferred choice for forex traders?

There are many reasons why forex traders are drawn to the MetaTrader 4 platform. Below we’ll explore out top 5:

1. Industry standard

Since its launch nearly 2 decades ago, MT4 has become the industry standard in the forex trading space. Most traders have become very accustomed to its easy to navigate interface and advanced features, which continues to keep the platform in high demand.

2. Customised to individual needs

MetaTrader 4 has been designed with forex traders in mind, making it the preferred choice for those looking to trade currency pairs. It’s a straightforward system to use, but also highly customisable, allowing traders to personalise charts to suit their visual preference, create their own indicators, scripts, and automated trading robots (EAs).

As traders gain more confidence in using the platform, they can gradually add more tools and features to enhance their trading experience.

The platform is also packed full of functionalities to support informed decision making. While a number of other assets can be traded via the platform, forex is the most popular choice, hence its global appeal.

3. A global MT4 community

So popular is the MetaTrader 4 platform that a global community of traders are present online, with whom one can engage and acquire a wealth of resources. This includes tutorials, forums, custom tools, tips, strategies, and much more. Various sub-forums also exist which offer extensive information regarding programming, platform support, trading strategies, and more.

4. Fast execution modes

MT4 delivers fast trade execution with multiple options, such as instant and market execution. This allows traders to select the method that best aligns with their specific trading approach and needs.

Furthermore, MT4 is designed for low-latency trading, reducing delays in data processing caused by network variations. This feature enables traders to respond promptly to market changes and seize opportunities as prices shift in real-time.

5. MT4 High security

MetaTrader 4 is renowned for its reliability, stability, and focus on data protection. Efforts are continuously made to mitigate cyber attacks, to safeguard against unauthorised access of account details or the interception of transactions.

MT4 Trading with IronFX

IronFX is an leading global broker with clients worldwide.

The broker offers a top-tier, flexible trading experience to its traders, one characterised by flexible trading conditions, multiple account types, a wide range of trading instruments from a variety of asset classes (forex, stocks, indices, futures and metals), fast trade execution, seamless withdrawals and deposits, and market access via the MetaTrader 4 (MT4) trading platform, undoubtedly one of the world’s most renowned trading systems amongst global traders.

The IronFX Academy also offers an abundant source of educational resources to boost one’s skills and acquire fundamental trading insights.

Disclaimer: This information is not considered investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.