Tag: Renat Fatkhullin

The online trading industry has experienced a shock in recent days. Apple announced that it would remove the MetaTrader trading software from its App Store (report here). This news came after Forbes reported that Pig Butchering scammers use MetaTrader. Forbes rightfully pointed out that MetaTrader is open to manipulation by operators via plugins. This has been known for a long time. And what about their data strategy? It's time for the authorities to look closely at MetaTrader and its publisher, MetaQuotes.

In the last few days, clients of most Forex, CFD, or crypto brokers have received email notifications that Apple has removed the MetaTrader app from its AppStore. The trading software developed by MetaQuote Ltd, officially based in Cyprus, is the market leader and is used by tens of millions of traders. Many scammers also use the MetaTrader software to defraud victims via the so-called Pig Butchering approach. Apparently, Apple has reacted to critical MetaTrader reports by removing it.

MetaTrader is a registered market of MetaQuotes Ltd in Cyprus. MetaTrader is a trading software for retail traders for Forex, CFD, stocks, or crypto. In the field of so-called speculative retail traders, MetaTrader has a dominant position. It is used by thousands of brokers and millions of traders. A huge open source community has formed around MetaTrader, developing software for the MetaTrader ecosphere. As a matter of fact, MetaTrader is also the preferred front-end platform for scam broker