Key takeaways
- In 2024 MetaQuotes terminated access for prop firms using MetaTrader without a direct agreement.
- Firms regained MT5 by applying for a licence in their own company.
- A Saint Lucia IBC with a legal opinion is a common route.
- Transparency about the business model is essential.
What happened in 2024
MetaQuotes began enforcing its licensing terms against prop trading firms that offered MetaTrader through brokers or white labels. Many firms lost access at short notice and moved to alternative platforms.
How firms regained MT5
The firms that returned to MT5 incorporated their own company, often in Saint Lucia, and applied for a direct licence. MetaQuotes reviewed ownership, addresses, activities, banking and the website, as for any broker.
What a prop firm needs
- A company with trading or financial services objects and a legal opinion.
- Clear UBO disclosure and SumSub verification.
- Physical address proof.
- A bank account and payment providers for fees and payouts.
- A transparent website describing the evaluation and payout model.
See MT5 for prop firms.