MetaQuotes is Back on Apple’s App Store!!

MQL5, a messaging app featuring trading news and analytics recommendations has been released by MetaQuotes on the App Store, almost five months after Apple delisted two MetaTrader trading platform apps. For Android users, MQL5 is also accessible through Google Play.

The messaging application, which was introduced on Thursday, uses MQL5 Channels to provide information on both fundamental and technical analysis.

The official statement read, “MQL5 Channels' purpose is to create a safe communication platform where traders from all over the world can exchange experiences and work together to discover the best solutions.”

This messenger application is curated for groups centred around currency trading and investment, discussions and group problem-solving. Users can also transmit images, videos and files smoothly even with a slow Internet connection.

In addition to the new messaging platform, MetaQuotes also launched a Tradays Forex Calendar on App Store. Currently, there are 5 accessible apps on Google Play and 2 on Apples App Store.

When both MT4 and MT5 trading platforms were delisted from App Store, the technology giant gave no specific justification for the action. Nevertheless, industry sources said that it was because so many scammers were using MetaTrader applications to prey on traders.

Since then, MetaQuotes appeared to be aware of the overwhelming amount of scammers committing crimes through its platforms, and it started modifying its white-label regulations for offshore brokers operating in countries with lax regulatory standards. Prior to their delisting, MT4 and MT5 were the most widely used third-party trading platforms in the forex and CFD trading markets with an estimated market share of 83.8%. The Apple restriction was a major setback for MetaTrader because it prevents new app downloads and updates for current app users. Other than obtaining them through the App Store, users of Apple devices cannot sideload software.

Apple's sudden move has spiked demand for its competitors' solutions. The most direct rival to MetaTrader is cTrader, created by Spotware Systems, which is followed by Match-Trader, Leverate, and X Open Hub. These are all external trading systems that brokers can authorise.

On top of that, MetaQuotes also launched a new MetaTrader 5 web terminal to mitigate the backlash, claiming that traders can now have full access to manage their trading accounts on any mobile device without having to download any application.