Apple Pulls Down MetaTrader MT4 and MT5 Apps From Its Store
- Apple removes MT4 and MT5 from its store globally.
- The removal of the apps is likely due to the Western sanctions placed on Russia.
MetaTrader 4 and MetaTrader 5 have been abruptly removed by Apple from its App Store. Apple’s decision is unclear, but it may be connected to Western sanctions against Russia over its invasion of Ukraine. Both MT4 and MT5 are frequently employed by traders to make bets on the financial markets.
Apple and MetaQuotes have not made any statements on the removal of the applications. However, as of Saturday night at 9 PM EST, both apps are live on Google Play, the equivalent for Android smartphones.
The PC versions remain unaffected at the moment.
MetaQuotes Software Corp., a Russian software business established offshore in Limassol, Cyprus, has developed mobile apps based on the well-known PC electronic trading platforms MT4 and MT5.
The United States and its allies have imposed a series of sanctions on Moscow in response to Russia’s Feb. 24 invasion of Ukraine. These sanctions have targeted the country’s central bank, major lenders, oligarchs, business elites, and Russian President Vladimir Putin.
In retaliation for Moscow’s invasion of Ukraine on February 24, the United States and its allies have placed several sanctions on Russia. The sanctions target a nation’s central bank, significant lenders, oligarchs, and corporate leaders, as well as Russian President Vladimir Putin.
Bank transfers and other financial activities are no longer permitted through SWIFT, and Visa and MasterCard have stopped operating in Russia.
Earlier, the U.S. Treasury sent out a letter to financial institutions warning them of penalties if they maintained business ties with sanctioned Russian individuals or businesses, or any entity linked to them. As a result, banks in Turkey and other Central Asian countries suspended their financial operations with Russia, dealing a severe blow to the Russian payment system Mir, which was already only supported by a small number of countries outside Russia.
In March, Apple ceased all product sales as well as all financial services in Russia, including Apple Pay.
The release of MT4 in Russia in 2005 was followed by the release of MT5 in 2009 to support more trading instruments. A study conducted in September 2019 highlighted the use of MetaTrader 4, and it was considered to be the most popular trading platform in the world.