Why is MT4 banned in America?
The two MetaTrader apps were banned on Apple's App Store in 2022 for their alleged use by fraudsters targeting the US citizens and residents.
We found that US traders are offered four different platforms to trade from. This includes MetaTrader 4, the fully customizable OANDA Trade web and desktop platform and trading app.
A Historical Precedent: MetaTrader's Removal from the App Store. The trading community was taken by surprise when Apple decided to remove MT4 and MT5 from the App Store in September 2022, citing non-compliance with its guidelines [1].
FOREX.com - Legally available to retail clients in the U.S. OANDA - Legally available to retail clients in the U.S. TD Ameritrade - Legally available to retail clients in the U.S. Interactive Brokers - Legally available in the U.S., but only to institutional clients.
Recently, the much-appreciated trading platforms all over the world, MT4 and MT5, have been banned in India. This is a major shock for traders. The Indian government made this decision unexpectedly. It is believed that this happened because these platforms are not registered in India and thus operate illegally.
Yes, forex brokers are legal in the U.S., but they must be registered with and regulated by the Commodity Futures Trading Commission (CFTC) and be members of the National Futures Association (NFA). This ensures compliance with strict financial standards and offers protection to traders.
MT4 will stay as long as Metaquotes makes its major returns with it and there is nothing available to substitute that cash flow.
Metatrader 4 (MT4) and Metatrader 5 (MT5) applications have returned to the Apple App Store as of 6th March 2023, after being unexpectedly removed by Apple in September 2022 for non-compliance issues.
The MT4 platform was the most popular forex and CFD trading platform in existence, but was recently superseded by the birth of its more recent relative MT5. Much of the digital trading world was thrown into the dark when in late September, Apple made the decision to ban the download of MT4 and MT5 from the App Store.
United States
The Internal Revenue Service (IRS) treats forex trading as capital gains or losses. Profits from trading are considered taxable income and must be reported on your tax return. Depending on your income and trading gains, you may fall into different tax brackets, resulting in varying tax rates.
Can a US citizen open a foreign forex account?
Unfortunately, there are NO Regulated offshore Forex brokers in the world that accept US citizens. It's because Dodd-Frank Act requires that Forex brokerage company who wants to do business with US citizens must first be registered with both CFTC and NFA.
Is MetaTrader 4 real or fake? It would be almost unfathomable to think that a trader would be questioning the legitimacy of the MetaTrader 4 (MT4) platform. Since its launch in 2005, MT4 has literally taken the trading world by storm. This can be largely attributed to its robust features and innovative tools.
Can a Broker Manipulate MT4? Yes. As with other things in the Forex market, MT4 is prone to manipulation as well.
In 2023, India's central bank, the Reserve Bank of India, blacklisted many forex firms, including prominent and regulated brokers such as Just Markets, Blackbull and Admiral Markets, and others. This is not the first incident. These platforms are banned in India. In September 2022, India banned MT4 and MT5.
Overall, while it is possible to start trading forex with just $100, it is important for traders to approach it with caution and to have a solid understanding of the market and their own risk tolerance.
If a Forex broker doesn't accept clients from the US, it's typically due to strict rules from US regulatory bodies like the Commodity Futures Trading Commission (CFTC). Brokers usually avoid serving US clients to adhere to these regulations.
The reason for this is quite simple - capital requirements. While a broker has to have around $100,000 - $500,000 of locked capital to obtain one of the European licenses, NFA requires quite an enormous amount of capital to be able to operate in the US - 20 million dollars.
Yes, you can. With MetaTrader 4 you have the option to set buy and sell limits in the 'orders' window.
Reason #1 – installation is being blocked by Firewall
The computer uses Firewall and antivirus which block the installation of MT4.
While MT5 itself is not a scam, it's essential to recognize that for a secure experience, one must know about any potential scams and fraudulent behaviour they may encounter when using the platform.
Why is MT4 market closed?
What does this mean? The 'market is closed' error message means you are trying to trade outside of the product's trading session. You will not be able to place or change orders over the weekend, on market holidays or and at other times when the relevant markets are generally closed.
The trade is disabled in MT4 error message means that you can't execute any trades with your broker. This error message usually appears when you try to place a new trade. It can indicate that you are trying to execute a trade while the market is closed, on an invalid symbol or your account hasn't been set up correctly.
We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to MetaTrader 4, including thinkorswim, eToro, E*Trade Web Platform, and Binance Broker.
App versions of the popular PC electronic trading platforms are provided by MetaQuotes Software Corp., a Russian software company that also has registration offshore in Limassol, Cyprus.
On average, a forex trader can make anywhere between $500 to $2,000 per day. However, this figure can vary significantly depending on market conditions, trading strategy, and risk management techniques. Some traders may make more than $2,000 in a single day, while others may make less or even incur losses.
