MetaQuotes launches a new messaging app on Apple App Store
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Around five months ago, Apple removed MetaQuote trading apps — MetaTrader4 and 5 — from its App Store, allegedly because they were not in compliance with the guidelines. Now, MetaQuote is back once again, this time with a brand new application that serves primarily as a messaging app. However, in addition to offering messaging services, the app also offers analytics tips and financial news that can be quite useful to traders to quickly grasp the state of the market.
Apart from the App Store, the app is already present on Google Play as well, available for Android users.
Details about the new messenger
The messaging app, announced yesterday, February 16th, offers technical and fundamental analysis using MQL5 Channels. According to the company’s announcement, the MQL5 Channels’ purpose is to provide a platform for secure communication, where traders from all corners of the world can talk, share experiences, and collaborate in order to find the best solutions.
The announcement continued by explaining that this will be useful to anyone interested in trading, and especially to those who use MetaTrader 4 and 5. The messaging app will offer a place for finance-related communities, corporate chats as well as collaborative problem-solving. Users can send videos and images, and even documents. Also, thanks to the advanced technology, the system will ensure fast deliveries, even when the internet connection quality is poor.
However, the new messaging app is not the only product that MetaQuotes managed to list on the app store. It also brought a Tradays Forex Calendar. Meanwhile, on Google Play, the company still has all five of its apps listed and supported — MetaTrader 4, MetaTrader 5, Dollar Colombia, Tradays Forex Calendar, as well as the new messenger.
Why were the MetaTrader apps banned?
As mentioned, the messaging application came five months after Apple removed the two MetaTraders. Apple never specified the reason for removing them, and rumors said that they were removed for not being in compliance with the App Store’s rules. However, some industry insiders have said that the real reason might be the fact that many scammers licensed MetaTrader apps to target traders.
Furthermore, MetaQuotes appears to be aware of the fact that online criminals are using its apps, so it changed its white-label policies for international brokers. It now offers its platforms in loosely regulated jurisdictions, both of which are quite popular third-party trading platforms for CFDs and forex.
The firm’s products used to dominate the trading market, holding around 83.8% of the total market share by late Q2 2022. However, when Apple banned the apps, the demand for competitors’ solutions skyrocketed, leading alternatives such as cTrader, Match-Trader, X Open Hub, and Leverate to capture a major part of the market.
