Widespread Access Issues Impact Chinese Traders On MetaQuotes Platforms
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Chinese traders have faced widespread difficulties accessing MetaQuotes’ MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for over a week. New users were unable to find broker servers through these popular trading apps, according to sources familiar with the situation.
This disruption marks the second time such problems have surfaced recently, with local regulators reportedly viewing these retail trading apps as possible scams.
Chinese Traders Face Access Issues Amid Regulatory Crackdown
The problem primarily affected new users attempting to sign up with forex brokers using the MT4 and MT5 mobile apps. Existing users who had already logged in did not experience any issues and continued trading as usual. The problem persisted for over a week and was resolved only after MetaQuotes released an update, build 1445.
Some brokers, such as Hong Kong-based GFM, advised their clients on how to circumvent the issues, and numerous users shared tips on Douyin, China’s version of TikTok. MetaQuotes did not respond to requests for comment.
This disruption highlights the challenges foreign trading platforms face operating under China’s strict financial regulations. Similar problems have occurred previously but were resolved more rapidly. During the outage, traders turned to web-based platforms or desktop software as alternatives.
The issues coincided with increased regulatory controls on foreign trading platforms. Many Chinese users were required to install the government’s “National Anti-Fraud Center” app, which industry insiders believe flags MT4 and MT5 as suspicious.
Chinese Traders Face Platform Updates And Regulatory Barriers
MetaQuotes fixed the problem by quickly releasing updates for both platforms, mainly to help Chinese users. This fix was needed because people in China can’t use Google Play, so they have to get apps from other stores or install files directly.
The week-long problem showed how international brokers working with Chinese traders can be vulnerable. Some brokers called the situation “worrying.”
China’s strict rules on foreign financial services make things even harder. Many broker websites get blocked, so they often have to change their website names to avoid being shut down. VPNs can help users get around these blocks and access trading apps and websites, but this makes it harder for new clients to start trading.
Meanwhile, users in Hong Kong were able to use MetaTrader without any problems. But authorities in mainland China keep warning people not to trade on foreign platforms without permission because it can be risky and rules aren’t clear.
