In a week marked by significant developments in the global trading landscape, Chinese forex traders grappled with access issues to popular trading platforms, while IG Group announced its departure from the South African market.
MetaTrader Platforms Disrupted in China
Chinese forex traders experienced widespread disruptions accessing MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Beginning in the latter half of May, new users found themselves unable to locate broker servers via the mobile applications. This issue persisted for over a week, raising concerns about potential regulatory crackdowns on foreign leveraged trading platforms.
In response, MetaQuotes released updates MT4 Android build 1445 and MT5 Android build 4981 that aimed at resolving the connectivity problems for Chinese users. The disruptions have sparked discussions about China’s stance on foreign trading applications and the broader implications for international brokers operating in the region.
IG Group Exits South African Market
IG Group has announced the closure of its South African operations. Effective immediately, the broker will cease opening new positions for clients under its South African unit. Existing clients have until 28 July 2025 (4 p.m. CAT) to close all open positions. The company has not provided a specific reason for this decision.
Despite the exit, IG Group will continue to serve South African clients through its offshore entities, ensuring that international accounts remain unaffected. This move comes as other brokers, such as Scope Prime, expand their offerings in South Africa, potentially filling the void left by IG’s departure.
These developments underscore the dynamic nature of the global trading environment, highlighting the challenges and strategic decisions faced by major players in the industry. Traders and investors are advised to stay informed and adapt to these evolving circumstances.
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