About five months after Apple delisted two MetaTrader trading platform apps, MetaQuotes has launched a new application on the App Store: a messaging app with financial news and analytics tips for traders. The app is also available on Google Play for Android users.

MetaQuotes Launches New Messaging App

Announced on Thursday, the messaging application offers fundamental and technical analysis using MQL5 Channels.

"MQL5 Channels' mission is to provide a secure communication platform where traders from all over the world can exchange experiences and collaborate to find optimal solutions," the official announcement stated.

"MQL5 Channels will be useful to anyone interested in trading, especially to MetaTrader 4 and MetaTrader 5 users. The messenger provides a great place for financial-related communities, for corporate chats, and for collaborative problem-solving. Send images, videos, and documents: the reliable messaging system ensures fast delivery even with a poor Internet connection."

Apart from the new messaging app, MetaQuotes also lists a "Tradays Forex Calendar" on App Store. On Google Play, it has five applications: two apps available to iOS users, MetaTrader 4 and MetaTrader 5 trading platforms, and Dollar Colombia, an app showing the current US dollars/Colombian pesos exchange rate with historic price data.

Apple's MetaTrader Ban

The messaging app came about five months after Apple banned two popular Metaquotes trading applications, MetaTrader 4 and MetaTrader 5, from the App Store. The technology giant did not specify any particular reason behind the move, but according to industry insiders, it came as many fraudsters licensed MetaTrader applications to target traders.

Additionally, MetaQuotes seems to be aware of the use of its platforms by "bad actors" and even changed its white-label policies for offshore brokers offering services from loosely regulated jurisdictions.

MetaTrader 4 and its updated version, MetaTrader 5, are the most popular third-party trading platforms in the forex and contracts for differences (CFDs) trading industry. According to Finance Magnates Intelligence, it dominated the trading platform market with around 83.8 percent of the total market share by the end of Q2 2022. However, Apple's sudden move has spiked demand for its competitors' solutions.

cTrader, developed by Spotware Systems, is the closest competitor of MetaTrader, followed by Match-Trader, Leverate, and X Open Hub. All of them are third-party trading platforms that brokers can license. Devexperts' DXtrade is another third-party platform licensed by several small and large brokers.

The ban by Apple was a massive blow to MetaTrader, as it limits future downloads and updates for existing app users. Apple devices do not allow users to sideload applications, apart from downloading them from the App Store.

On top of that, MetaQuotes launched a new MetaTrader 5 web terminal to mitigate the situation, claiming that traders "can fully manage their trading accounts using a mobile device" by using the new MT5 web terminal, "regardless of iPhone versions and browsers."

While promoting the new web version of the trading platform and mitigating backlash from the App Store ban, MetaQuotes said, "there is no need to download a mobile app from the Apple App Store or Google Play."