Is MT5 a Russian Company? Why was MT5 Banned?

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In September 2022, the Metatrader 4 and 5 apps were removed from the app stores due to sanctions related to the fact that the app maker, Metaquotes, is a Russian company headquartered in St. Petersburg. Suspicions of price manipulation and monopolistic practices were also mentioned. However, after investigations, no violations were found, and in March 2023, MT4 and MT5 were reinstated in the app stores, where they are still available for download today.

MetaTrader 4 and 5, commonly known as MT4 and MT5, are globally acclaimed trading platforms developed by the Russian company MetaQuotes Software. These platforms serve as indispensable tools for traders, offering a range of features for analyzing financial markets and executing trades.

However, the intriguing aspect lies in the history of bans that befell MT4 and MT5, prompting their temporary removal from app stores. This article delves into the origins of MetaTrader 5, exploring its Russian roots and taking out the narrative of why MT5 faced bans and its current status.

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?

What are the best MT5 Forex brokers?

Most reputable Forex brokers continue to offer the MT5 platform, a testament to its reliability and advanced trading capabilities. You can easily download MT5 directly from the broker’s website. When selecting a broker for MT5, it’s crucial to consider several key factors: ensure that the broker is well-regulated, offers ECN accounts for low-commission trading, and provides full access to automation features. These elements are essential to fully leverage the power of MT5 in your trading strategy.

	Eightcap	XM Group	TeleTrade
MT5 Trading Platform
ECN
ECN Commission	3,5	3,5	3,5
ECN Spread EUR/USD	0,1	0,2	0,2
Regulation	ASIC, SCB, CySEC, FCA	CySEC, FSC (Belize), DFSA, FSCA, FSA (Seychelles), FSC (Mauritius)	SVGFSA
Open account	Open an account Your capital is at risk.	Open an account Your capital is at risk.	Open an account Your capital is at risk.

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:

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:

Conclusion

MetaTrader 4 and 5 are products of MetaQuotes Software Corporation, a Russian company. The removal of these products from app stores in the fall of 2022 was a temporary measure related to sanctions, suspicions of manipulation, and monopolistic practices. It took about six months to resolve the issues. After that, the popular MetaQuotes products became available to users again.

FAQs

Which country is MT5 from?

MetaTrader 5 (MT5) is a trading platform developed by MetaQuotes Software, a company based in Russia. The main office of MetaQuotes Software is located in Saint Petersburg. The company was founded in 2000 and is one of the leading developers of software for trading on financial markets. The company also has offices in other countries, including the United Kingdom, the United States, China, and Japan

Is MT5 legal in the US?

Yes, MetaTrader 5 is legal and widely used in the United States for online trading.

Is MetaTrader safe to use?

Generally, MetaTrader is considered a safe and reliable trading platform. However, users should be cautious and use secure practices, such as choosing a reputable broker and keeping their login credentials confidential.

Is MT5 still banned?

As of today, there are no widespread bans on MetaTrader 5. MetaTrader iOS – MT5 app – have been reinstated on the App Store. The trading platform's desktop version is still available to download and the Google Play version hasn't been affected.

Team that worked on the article

Upendra Goswami is a full-time digital content creator, marketer, and active investor. As a creator, he loves writing about online trading, blockchain, cryptocurrency, and stock trading.

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Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).

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