A new broker wanting MetaTrader 5 has two doors, and MetaQuotes decides which one it walks through. One is a white label: running under an existing full-licence holder's infrastructure, under that holder's terms. The other is a direct server licence of its own. New firms are generally pointed to MetaTrader 5 or a white-label arrangement rather than a MetaTrader 4 server of their own, and which door a given firm gets is MetaQuotes' call, not the firm's.
A white label MT5 vs own platform licence decision is really a decision about how much control a firm is willing to trade for how much speed. It is worth setting both against a third option that removes the MetaQuotes dependency altogether: a broker-server model like eTrader's, where each firm gets its own server hosted by SGHK, with a different trade-off attached.
Three ways to run a platform
| Model | Who controls the licence | Strongest at | Trade-offs |
|---|---|---|---|
| MT5 white label | The full-licence holder the firm runs under | Fast access to MetaTrader's trader base and MQL5 library without holding a licence directly | Terms, pricing and continuity depend on the licence holder, not MetaQuotes directly |
| MT5 full licence | The firm itself, subject to MetaQuotes' approval | Direct control of the server, terms set by MetaQuotes rather than an intermediary | MetaQuotes decides who qualifies and on what terms; new firms are often pointed elsewhere first |
| eTrader broker server | The firm, on its own eTrader server hosted by SGHK | No MetaQuotes-style licence dependency; CRM, price feed, dealing desk, MAM / PAMM and copytrading built into the platform | Smaller third-party library than MetaTrader's; robots are written in Tide, not MQL5 |
How an MT5 white label actually works
Under a white label, the firm's clients trade on infrastructure that belongs to someone else, an existing full-licence holder, with the firm's own branding on top where the arrangement allows it. The firm gets to market with MetaTrader 5 without going through MetaQuotes' own licensing process directly, which is faster when a firm cannot get a direct licence approved on its own timeline. The dependency that creates is real: the firm's continued access to the platform rests on its relationship with the licence holder, not on a direct relationship with MetaQuotes, and any change in that holder's terms or business becomes the firm's problem too.
This is a common industry pattern, not a flaw specific to MetaTrader. A number of prop firms felt MetaQuotes' licensing terms tighten in early 2024, and some running under white-label arrangements or holding direct licences alike had to add other platforms at short notice as a result.
Holding a full MT5 licence directly
A direct licence puts the firm in a relationship with MetaQuotes itself rather than with an intermediary, and gives it control over its own server rather than sharing infrastructure it does not own. The catch is qualification: MetaQuotes decides who gets a licence and on what terms, and new firms are generally pointed toward MetaTrader 5 directly, if they qualify, or toward a white-label arrangement instead of a MetaTrader 4 server of their own. A firm cannot simply choose the direct-licence path; it has to be accepted into it.
Either way, a firm on MetaTrader 5 gains the platform's real strength: the largest base of traders who already know the terminal, and the MQL5 Market and community holding a large library of robots, indicators and scripts built up over years. That pull is why firms keep choosing MetaTrader even while accepting the licensing dependency that comes with it.
eTrader's broker-server model as a third option
eTrader is not a white label of another platform. Each firm gets its own eTrader servers, shown under its own name and logo, integrated the same way a firm integrates MetaTrader 5: traders install the eTrader app and pick the firm's server, the firm's CRM opens accounts through the eTrader CRM API, and the firm's own servers carry its own instruments, spreads and leverage that no other firm can see. There is no MetaQuotes-style approval gate to pass and no intermediary licence holder in between; the server is hosted in the cloud by SGHK and managed by the firm, built to scale across clustered servers as the firm grows, with nothing for the firm to host.
The bundle also removes pieces a MetaTrader firm assembles separately: eTrader ships with its own price feed, a dealing desk with A-book, B-book and hybrid routing, and native MAM, PAMM and copytrading on the same accounts. Pricing is quoted for the firm on a call.
The honest trade-off runs the other way. eTrader is the newest of the three models here, so its third-party library of indicators and robots is smaller than MetaTrader's. Robots and indicators are written in Tide, eTrader's own language, rather than MQL5, so a robot built for MetaTrader has to be rewritten, not imported. A trader who depends on a specific MQL5 robot will not find it on eTrader without that rewrite.
Which model fits which firm
A firm whose traders are attached to specific MQL5 robots or the MetaTrader name gets more value from staying on MetaTrader, whether through a white label or a direct licence, and should weigh how much licensing risk it is willing to accept in exchange for that trader base. A firm launching new, without an existing trader base tied to MQL5, gets more from a model with no licence-holder dependency and nothing to host, accepting a smaller third-party library and a robot language to learn instead.
Plenty of firms end up running two platforms rather than choosing once. SGHK's Broker CRM and Prop Firm CRM connect to MetaTrader 4, MetaTrader 5, cTrader, DXtrade, NinjaTrader, Match-Trader and TradeLocker as well as eTrader, so a firm on a white label or a direct MT5 licence can add eTrader without replacing its CRM. See our guide on what to check on a platform vendor's licence before committing to either model.
Ask any MT5 white-label provider what happens to your firm if the licence holder's own arrangement with MetaQuotes changes, and ask any direct-licence path how long approval realistically takes. Then compare both against a demo of a model that removes the question entirely: book an eTrader demo.
"A white label gets you MetaTrader fast. It also means someone else's licence terms are now part of your business plan."
— The SGHK Team
Key Takeaways
- An MT5 white label runs on an existing full-licence holder's infrastructure; a direct licence depends on MetaQuotes' own approval, which new firms do not always get for MetaTrader 4.
- Early 2024 showed both paths carry licensing risk, when a number of prop firms had to add other platforms at short notice.
- eTrader is not a white label of another platform; each firm runs its own server, integrated the way a firm integrates MetaTrader 5, with no licence-holder dependency.
- eTrader's own trade-off: a smaller third-party library and robots written in Tide instead of MQL5.
Frequently Asked Questions
Is eTrader a white label of MetaTrader 5?
No. eTrader is its own platform. Each firm gets its own eTrader servers under its own name and logo, integrated the same way a firm integrates MetaTrader 5 or cTrader, with no shared licence dependency on another platform vendor.
Can a firm hold an MT5 white label and eTrader at the same time?
Yes. SGHK's Broker CRM and Prop Firm CRM connect to MetaTrader 4, MetaTrader 5, cTrader, DXtrade, NinjaTrader, Match-Trader and TradeLocker as well as eTrader, so a firm running an MT5 white label can add eTrader without changing CRM.
Why do some firms get a direct MT5 licence and others get pointed to a white label?
MetaQuotes decides who gets a licence and on what terms. New firms are generally pointed to MetaTrader 5 directly, if they qualify, or to a white-label arrangement rather than a standalone MetaTrader 4 server, based on criteria MetaQuotes sets itself.
Do eTrader robots work the same as MQL5 robots?
Not directly. eTrader robots are written in Tide, eTrader's own language, so an MQL5 robot has to be rewritten rather than imported. The eTrader Code editor flags mistakes as the trader types and backtests on the firm's real price history.
About SGHK
SGHK is a FinTech company that designs and builds its own software for the trading industry: the eTrader trading platform, Launch your Broker and Launch your Prop Firm. Every product is written, hosted and supported in-house and licensed to trading firms, with the CRMs branded to them, all hosted by us in the cloud, managed by each firm and built to scale across clustered servers as our clients grow. Everything is encrypted, and each firm is the only one with access to its data and its clients' data.