Apple Ban: MetaQuotes Launches New MT5 Web Targeted at Mobile Traders

The Forex trading technology provider, MetaQuotes launched a new MetaTrader 5 (MT5) web terminal on Monday for forex and contract for difference trading. The launch comes over a month after the technology giant, Apple pulled down the company's popular MetaTrader 4 and 5 mobile trading apps from its App Store without warning.

Industry sources attributed the suspension to the alleged prevalent use of the platform by ‘bad actors’ in perpetrating scams. However, while the development happened without any warning, months before MetaQuotes had been implementing a shift in its policy towards offshore brokers who mostly operate from jurisdictions with less rigorous regulations.

Meanwhile, following the news, MetaQuotes’ competitors reported increased sign-up requests from brokers, which is likely to affect MetaQuotes’ market share. In mid-October, Spotware Systems announced that it started investing in upgrades to its infrastructure to meet the higher demand for cTrader, its electronic trading platform.

'No Need for a Mobile App'

However, on Monday MetaQuotes announced that traders “can fully manage their trading accounts using a mobile device” by using the new MT5 web terminal. The company said that "regardless of iPhone versions and browsers."

“Furthermore, there is no need to download a mobile app from the Apple App Store or Google Play,” MetaQutoes added.

Additionally, the software provider explained that the new terminal offers demo and live accounts, financial symbol quotes and the ability to execute trading operations in any financial market, among other features.

On top of that, the company noted that the terminal was "redeveloped from scratch," and was optimized; hence, it "has become faster and more efficient."

"The new core has enabled faster response to commands and greater operational stability. The web terminal is safe to use since all transmitted information is securely encrypted,” MetaQuotes said.