At X Open Hub we’ve been closely following this week’s developments surrounding MetaTrader and Apple.
Without any prior notification or formal announcement, Apple removed the MetaTrader 4 and MetaTrader 5 online trading platforms from its App Store.
That means iOS-based devices can no longer download the MT4 and MT5 apps.
Although the reasons behind the move have not been clarified, it is believed that the removal of the platforms could be due to several scams reportedly implemented through these platforms.
How Does the Ban Impact Brokers?
The news of Apple’s latest move slowly filtered through social media, followed by mainstream media.
Buzz around the ban is due to the immense popularity of MT4 and MT5, which together account for 83.8% of the total online trading platform market share, according to Finance Magnate’s Quarterly Intelligence Report for Q2 of 2022.
Although iPhone and iPad users who have already downloaded the trading platforms can continue to use them, they will be unable to access updates, upgrades or fixes.
The impact will really be felt over the longer term if brokers can no longer offer the platforms to new clients.
Brokers are hopeful that MetaQuotes will be looking at ways to resolve the situation. For now, brokers can offer the web version of the platforms. Alternatively, Apple’s move could push brokers to look at other trading applications or even consider developing their own platforms.
While the MetaTrader ban is big news for the trading world, it doesn’t necessarily need to be bad news.
It provides an opportunity for brokers to take a fresh look at the latest technology solutions available in the market.
Breath of Fresh Air
The financial industry is an extremely dynamic one, and businesses need to be flexible to thrive (and survive) in this landscape. Customer expectations are constantly changing, as is the regulatory scenario.
In the meantime, technology is advancing in leaps and bounds to bring cutting-edge tools that can help brokers set themselves apart from the competition.
This is where X Open Hub, excels. We’ve spent years perfecting our web and mobile apps to give brokers the edge they need to attract and retain retail traders.
Our XOH Trader platform, with both web and mobile app versions, is a powerful and intuitive HTML5 platform that delivers high performance, reliability, and speed across browsers and mobile operating systems, including Android and iOS.
It’s highly customisable, enabling brokers to offer their clients a complete fully branded platform and multi-asset trading experience.
It also has dedicated, branded web and desktop options, along with a fully open front- and back-end API. The result is the lowest latency and highest throughput in the industry.
Our partners maintain complete control over the platform, with access to their own private and dedicated server, managed by their own team. Most importantly, our platform and technology solutions are approved by EU regulatory bodies and tested by more than 500,000 users online. This gives us the confidence to guarantee the reliability of our solutions.
CEO - Micheal Copiuk
Push notifications are another unique feature, which keep traders engaged and encourage them to make the most of market opportunities.
Apart from its scalability, it offers 99.99% stability without any hosting costs, since it is cloud-based. In fact, during the past 3 years, we’ve achieved 100% system uptime.
One area that traders might worry about in the absence of the MetaTrader platforms, is the feature-rich charting tools. XOH Trader and XOH Mobile come loaded with advanced charts that are intuitive enough for novice traders to use conveniently, while offering advanced traders all the tools they need for informed decision-making.
The advanced technical tools offer multiple powerful features that are unavailable on other platforms, such as templates, personalised chart views (chart, grid, session, price), overlay charts, and detached and floated charts.
The platform also includes other tools for informed decision-making, such as an economic calendar, real-time market news and trend analysis, heat maps of the biggest gainers and losers in the markets, market sentiment, educational resources and much more. Each broker can customise the platform with the tools and features they wish to offer their clients.
In addition to our platform's rich branding features, you can also include your own economic news feed and educational videos. It provides obvious benefits to traders and brokers who are interested in enhancing engagement and customer retention.
Marketing manager - Sylwester Jezierski
Need an alternative to the MetaTrader platforms and fast? Test drive our platform try demo, and contact our sales team.
