Has MT4 and MT5 been Banned?

Is MT5 a Russian company?

Yes, MetaTrader 5 (MT5) is a trading platform developed by the Russian company MetaQuotes Software. MetaQuotes Software is a Russian company that focuses on creating software for foreign exchange trading. The primary offerings from MetaQuotes are the online trading platforms known as MetaTrader, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

2010. The establishment of MetaQuotes Software Corporation traces back to the year 2000 in Russia, marked by the introduction of FX Charts—an online charting package tailored for margin FX trading.

2005. On July 1, 2005, with the launch of MetaTrader 4 (MT4). MetaTrader 4 has undergone significant improvements over time. A useful "Data Center" feature was added to make the servers more stable, reduce the load on them and improve security against problems such as denial-of-service attacks.

2010: The MetaTrader 5 (MT5) platform was released in June 2010. It was developed as a successor to MetaTrader 4, aiming to offer more features, including additional timeframes, more technical indicators, a built-in economic calendar, and support for more financial instruments.

2011: The MetaTrader 5 (MT5) mobile version was officially released for iPhone, iPod Touch, and iPad on January 18, 2011. The Android version of MT5 saw several updates, with a notable update on June 13, 2014, which included several new features and design changes to be consistent with the Google Style Guide.

To learn in detail about the features of each platform, their differences, and how they can benefit you, read the article: MT4 vs MT5: Which Forex Trading Platform is Better?

Best Forex brokers

1

9.4/10

Go to broker

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest.

Minimum deposit:

$50, $100 (for UK clients)

Bonus for deposit:

0%

Regulation:

CySEC, FCA, ASIC

Review

The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA. eToro Profile Details

Pros/Cons

•the minimum transaction amount for copying is $1;

•handy functionality for passive investing;

•regulated by independent monitors;

•it is possible to purchase contracts for fractional shares (that is, to invest amounts less than the cost of one share);

•it is possible to buy shares at once (not CFDs) on the US stock exchanges.

•high spreads;

•periodic technical failures in order execution;

•lack of the most popular platforms such as MetaTrader 4 and MetaTrader 5 in Europe and the CIS;

•no access to ECN systems, orders are processed only according to the STP (straight-through processing) scheme with access to specific liquidity providers;

•there is a commission for withdrawing funds;

•impolite support staff;

•inconvenient website.

Study Review

2

9.2/10

Go to broker

Your capital is at risk.

Minimum deposit:

No minimum

Bonus for deposit:

0%

Regulation:

FSC (BVI), ASIC, IIROC, FCA, CFTC, NFA

Review

The name OANDA is an acronym for “Olsen & Associates” or “Olsen AND Associates”. It is registered in the United States and provides its clients with a wide range of financial services in most countries of the world. The company was founded in 1996 and is currently regulated in four jurisdictions. The main regulator of the broker is the UK Financial Conduct Authority (FCA). Oanda Canada is licensed by IIROC. The company has several significant awards to its credit, including a victory in the category "Best Forex Trading Technologies" from the UK Forex Awards, "Best Trading Platform" from FX Week, as well as "Best Customer Service" from the US Foreign Exchange Report.

Pros/Cons

•Minimum deposit from 1 dollar.

•A large selection of the most popular trading instruments.

•Several reliable and reputable financial regulators.

•Inconvenient and poorly functioning site.

•Lack of cent accounts.

•Lack of bonus programs.

Study Review

Has MT4 and MT5 been banned?

The evolution of MetaTrader 4 (MT4) and MetaTrader 5 (MT5) has been marked by notable incidents, including a brief prohibition from app stores on September 23, 2022, followed by their subsequent reinstatement.

This suspension was linked to multiple factors, detailed as follows:

Allegations of Fraud: The crux of the issue stemmed from Apple's decision to eliminate MT4 and MT5 from its App Store, prompted by concerns over a burgeoning scam network colloquially termed "pig butchering." This scheme exploited the Virtual Dealer plug-in to craft deceptive trading environments, fooling traders with counterfeit market data, including prices, price movements, and misleading profit and loss statements. Metaquotes, the developer behind these platforms, does provide licenses for this plug-in, but Apple's decision to prohibit downloads appeared to be a strategic move to mitigate these fraudulent activities. Notably, while new downloads were blocked, existing users retained their access to the platforms.

Potential Repercussions of Sanctions Against Russia: The backdrop of this ban also included the geopolitical tensions arising from Russia's military actions in Ukraine. In response, many global entities, including prominent tech firms, paused their operations in Russia as a gesture of support to Ukraine and adherence to the sanctions imposed by the European Union. Previously, Apple had already ceased product sales and certain financial services in Russia. However, Metaquotes contested any direct correlation between these sanctions and the exclusion of their applications from the App Store.

Encouraging Market Diversity: Historically, Metaquotes has dominated the trading software landscape, commanding an impressive 84% market share. This near-monopoly status was somewhat disrupted by the ban, inadvertently fostering a more competitive environment. The absence of Metaquotes as the unequivocal market leader presented an opportunity for traders and brokerage firms to consider and adopt alternative trading platforms.

Actually, the specifics of the ban remain somewhat opaque, as neither Apple nor Metaquotes have provided comprehensive explanations. Metaquotes only received succinct communication from Apple, attributing the ban to a failure to conform to the App Store's review protocols.

Is MetaTrader 4 and 5 available on the App Store?

As the facts show, Apps by Metaquotes was reinstated in stores in March 2023.

As of today, the apps are available for download for everyone.

You can install the Android versions from the Google Play Market:

MetaTrader 4 and 5 available on Google Play

You can also download the iPhone versions:

MetaTrader 4 and 5 available on App Store

Both trading terminals from Metaquotes are trustworthy, regularly updated, and stable in operation - which has led to their popularity.

MT4 is considered easy to learn while containing many features. It is perfect for beginners. Note that to fully utilize MT4, you will need to open an account with a broker (this is not a complicated procedure) to receive stock exchange data on the latest prices. More details are described in the articles:

• 10 Best MT4 Brokers (MetaTrader 4 Forex Platforms)

• MetaTrader 4 (MT4) For Forex traders | Top Pros And Cons

MT5 is a more advanced platform, but it can be more difficult to master. If you are inclined to choose it, the following articles will help you:

• MetaTrader 5 (MT5) for Forex Traders | Top Pros and Cons

• 9 Best MT5 Brokers for Forex Trading