Apple’s Response To Meta Quotes Super Scam
The 24th September was a significant moment in the fight against MetaQuotes and their moronic white label licensing that are responsible for creating so much misery and pain throughout the world.
Last week we officially announced that MetaQuotes are indeed a public menace and we suggested that if MetaQuotes refuse to put an end to the white label software licenses that are being continuously used for a whole range of criminal activities, then the only option is to place MetaQuotes and all fintech applications under the thumb of stringent regulation.
Top tier finance regulators are tough, and they need to be because they keep people safe from predators within the financial markets and many of the white label brokers will never be considered worthy of operating within the financial markets, but MetaQuotes still puts these brokers in business by granting white label licenses. No matter how many people get hurt, no matter how many complaints they receive, MetaQuotes refuses to stop this moronic practice.
So, if MQ wont stop, then its up to others to stop them. HLT have sent proposals through to various regulators based on the sheer volume of cases we have received where people are getting financially hurt by criminals posing as reputable brokers and we are calling for MetaQuotes to be part the regulative process.
This will hurt MetaQuotes profits, but it will make sure that they can be controlled. MetaQuotes have proved that acting responsibly isn’t part of their company culture, so it is up to other people now to make them accountable.
In a stunning move, Apple have removed Metatrader from Apple App store. HLT are asking Google to do the same and follow suit by removing MT4/5 from the Google Play store. The removal of Metatrader from the Apple store has seen several mixed reports as to why Apple have taken these remarkable steps.
Initials thoughts seemed to suggest potential Russian sanctions due to the Russian origins of the company, however comments made to Finance Magnates, MQ rejected this notion and told Finance Magnates that they were simply told that MT4/5 didn’t comply with the Apple store review standards and have asked for clarification. Whilst this explanation from Apple may seem vague, a quick look on the google play store at some of the reviews of MT4 proves that many people are using the MT4/5 app review system to tell the world that they have been frauded using this platform. It doesn’t stop there, Forex Peace Army, Global Anti-Scam, Forbes and many other outlets are all reporting that MetaQuotes have created a software app that is a plague, sucking dry any rookie investors by bleeding them dry of all their hard-earned funds while MetaQuotes retreats into ignorance whilst collecting large sums of cash from the very criminals that are defrauding people, it is an easy thing to prove now that MetaQuotes in thier ivory tower are indeed profiting from illegal activity (more on this later, the evidence trail is still be formally collcted.) Regardless to say MQ refuses to acknowledge the problem.
Forbes quoted recently that social engineering and romance scams using MT4 is now a super-scam.
For a few moments I reflected on these events and I allowed myself another flight of fancy by asking myself the following question. If my software company was creating a platform where the public can be so easily defrauded, I would have personally over seen the redevelopment of the features that are being so easily used by criminals to commit fraud, and I certainly wouldn’t have let the problem escalate to the levels where the application could be branded as a super scam.
It appears the MetaQuotes don’t care though, the profits are too juicy a fruit not to taste. We say again these profits don’t belong to MetaQuotes, the money belongs to the people that have been directly frauded and tricked by people using their software to do it.
By Gareth Hatton.