Apple's MetaTrader Ban: What are the Broker Alternatives?

Apple’s decision to remove the most popular forex and contract for difference (CFD) trading platforms from its App Store, unknowingly contributed to potentially severe changes to the retail trading industry, which has been growing for over a decade.

While the iconic duo of MetaTrader4 and MetaTrader5 is no longer available for iOS devices, brokers and traders have been left wondering what’s next for the industry. Finance Magnates covers the topic in the latest edition of the Quarterly Industry Report.

In the long term, the inability to use the MetaQuotes app on Apple mobile devices will make brokers decide to change the platforms they offer. According to some experts, this could provide a breath of fresh air in an industry dominated by MetaTrader solutions and increase the market share of competitors.

Spotware, X Open Hub, Match-Trade and Leverate. 4 Main Alternatives

Finance Magnates Intelligence conducted a survey, which showed that, according to traders and brokers, there are four main alternatives available in the market - platforms and white-label solutions from Spotware Systems, Match-Trade Technologies, Leverate and X Open Hub.

Finance Magnates spoke with representatives of the four companies mentioned, and all presented similar opinions. Unsurprisingly, they agreed that their platforms could be the best alternative for brokers and their clients. Moreover, they do not believe the situation will negatively affect the popularity of the CFD industry among retail clients and will not increase the popularity of zero-fee trading platforms such as Robinhood.

Your Options as a Broker

Having MetaTrader platforms on offer still seems to be a ‘duty’ of a retail broker. Indeed, Apple’s ban will not make the market share of these tools disappear entirely. However, it is worth preparing for those customers who can no longer use the MetaQuotes app on their iOS mobile devices.

Appropriately, white-label solutions are not everything. Traders, their assets, and all open positions are important. When choosing a new partner as a broker, it is worth ensuring the fastest and least painful migration process to keep clients and traders unaffected.

Finance Magnates Intelligence gathered offerings of six popular FX/CFD trading companies to show what are they proposal for potential brokers.

Our interviewees repeatedly discussed the "new opportunities" the ban has created and talked of the impact the ban will have. As an incumbent and emerging broker, you should consider basing your offering not only on MetaQuotes platforms but also complementing it with one of the popular alternatives offered in a white-label format.

To get the full article and the bigger picture after Apple’s MetaTrader ban, get our Latest Quarterly Intelligence Report