MetaQuotes Launches New MT5 Web for Mobile Traders in Response to Apple's Ban

MetaQuotes, a provider of technology for forex trading, introduced a new MetaTrader 5 (MT5) web terminal for forex and contract for difference trading on Monday. Apple abruptly removed the company's popular MetaTrader 4 and 5 mobile trading applications from its App Store more than a month prior to the launch.

The suspension was attributed by industry sources to the widespread usage of the site by 'bad actors' to perpetrate scams. Despite the fact that the event occurred without any prior warning, MetaQuotes has been undertaking a policy shift toward offshore brokers that predominantly operate from locations with less stringent laws for several months prior.

In the wake of the revelation, MetaQuotes' competitors reported an increase in broker sign-up requests, which is likely to impact MetaQuotes' market share. Spotware Systems stated mid-October that it had begun investing in infrastructure enhancements to match the increased demand for cTrader, its electronic trading platform.

There is no need for a mobile application

Using the new MT5 web terminal, however, traders "may completely control their trading accounts using a mobile device," as stated by MetaQuotes on Monday. "Regardless of iPhone versions and browsers," the company added.

MetaQuotes stated, "There is no need to download a mobile application from the Apple App Store or Google Play."

In addition, the software company noted that the new terminal enables demo and live accounts, quotes for financial symbols, and the ability to conduct trading operations on any financial market.

In addition, the business said that the terminal was "redeveloped from the ground up" and improved; as a result, it "has become faster and more efficient."

"The new core has allowed for faster command reaction times and increased operational stability. The web terminal is safe to use because all transferred data is securely encrypted, according to MetaQuotes.