Best MT5 White Label Alternatives for Brokerages in 2024
Articles
In the high-stakes world of forex trading, the MetaTrader 5 (MT5) platform has long been the go-to solution for brokerages seeking a robust and feature-rich trading experience. However, today, brokers and prop trading firms explore alternative white label options, driven by a need for greater control, flexibility, and independence.
This article delves into the key considerations and examines top MT5 white label alternatives.
Key Takeaways
- MetaQuotes’ policy changes and stricter requirements have driven brokers to search for alternatives to the MT5 white label platform.
- Several viable alternatives to MT5 have emerged, including cTrader, B2Trader, DXtrade, TradeLocker, XOH Trader, SIRIX, and many others.
- Key factors for brokers to consider in MT5 alternatives including customisation and branding, pricing, regulatory compliance, technical capabilities, and scalability.
Why Do Brokers Look for Alternatives to MT5?
The dominance of the MetaTrader 5 white label platform has been undisputed for years, with the majority of retail forex brokers worldwide offering it as their primary trading solution.
However, MetaQuotes, the MT5 white label provider, recently changed its policies regarding its platforms and limited the distribution of WL licences to brokers and prop trading firms. The developer’s stricter requirements were linked to the company’s efforts to comply with shifting regulatory demands, particularly in the US market.
The company has already ceased licensing for several offshore brokerages and prop trading firms, which has led to a surge in demand for MT5 white label alternatives.
Top MT5 White Label Alternatives in 2024
As brokers navigate this shifting landscape, many white label solutions have emerged, each offering unique features and benefits. Let’s explore some of the leading alternatives to the MT5 white label solutions:
1. cTrader
cTrader, developed by Spotware Systems, has firmly established itself as a formidable alternative to MT5 and MT4 white label platforms. cTrader boasts an extensive toolkit that caters to the needs of professional traders. The platform features lightning-fast order processing, powerful charting capabilities, and seamless integration with third-party applications.
The compelling feature of cTrader is its ecosystem of automated trading solutions, known as cBots. It allows traders to easily convert their existing Expert Advisors (EAs) from MT4/MT5 white label solutions and deploy them on the cTrader platform, fostering an active community of developers and traders. Additionally, cTrader’s Platform-as-a-Service (PaaS) model, which charges based on trading volume rather than a fixed licence fee, aligns the interests of the broker and the white label provider, ensuring a partnership that benefits both parties.
2. B2Trader
Developed by B2Broker, a provider of liquidity and technology, B2Trader presents a proprietary crypto spot trading platform tailored for brokers and institutions aiming to penetrate this lucrative market. B2Trader enables brokers to quickly deploy the platform and establish their own spot trading options within a week, dramatically reducing the time-to-market.
B2Trader features high-performance processing, handling orders at a lightning-fast 1 ms rate and updating data every 100 ms. Its seamless integration with various online trading platforms ensures efficiency and ease of use for brokers at all levels.
Furthermore, B2Trader is enhanced by B2Broker’s comprehensive ecosystem of brokerage solutions, offering CRM and back-office integration, copy trading software, crypto payment processing and deep liquidity pools. The platform also provides FIX API and wide integration capabilities to streamline brokerage operations.
3. DXtrade
DXtrade, developed by Devexperts, a company with over two decades of industry experience, offers a state-of-the-art white label platform designed to cater to the needs of modern traders. The DXtrade CFD version is specifically tailored for OTC financial markets, such as FX and crypto CFDs.
This MetaQuotes MT5 rival is a highly customisable platform allowing brokers to add their branding elements and tailor the interface to meet their clients’ needs. It also offers advanced risk management tools, automated trading functionality, and an array of order types. DXtrade CFD’s sleek and modern design sets it apart, making trading easy and enjoyable for users.
The seamless integration with MetaTrader liquidity providers offers brokers an effective, budget-friendly solution to their trading necessities, making DXtrade a reliable alternative to the MetaTrader 5 white label solution.
4. TradeLocker
TradeLocker is an all-inclusive brokerage solution that brings together key features of a trading platform with a user-friendly interface. Standouts among its offerings include innovative analytical tools, real-time charts, and swift trade execution. TradeLocker synergises with TradingView, a leading analytics platform, providing traders with a power-packed analytics engine for comprehensive market evaluations.
The platform bears an impressive lineup of trading commodities and API integrations, making it an ideal choice for brokerages of varying demands. Their micro-lot trading functionality stands as a lifeline for beginners with limited capital, letting them test their market strategies without substantial financial exposure.
The platform extends its versatility with support for equities, derivatives, currency, crypto, and debt instruments, consolidating its standing as a multi-market trading platform. Seamless integration with existing setups and efficient automated trading, courtesy of its API integration, make TradeLocker a suitable alternative to MetaTrader white label for both brokerages and prop firms.
5. XOH Trader
XOH Trader, a white label solution offered by forex white label provider X Open Hub, is known for its extensive charting features. The platform offers traders a selection of customisable chart templates, overlay charts, and personalised chart views, allowing them to tailor their trading experience to their preferences.
In addition, XOH Trader is a valuable resource for timely market news, insightful analysis, and trend forecasting. It further assists traders with a comprehensive calendar of significant financial events and live market sentiment indicators. These features ensure traders always stay on top of market dynamics.
The white label solution enables brokers to refine their branding elements — logos, colours, default settings and more. Its integration capacity with educational materials, webinars, and news enhances the overall user trading experience. With professional charting tools, real-time market analysis, and extensive customisation, XOH Trader is a comprehensive white label trading software for contemporary trading needs.
6. SIRIX
Leverate’s flagship SIRIX trading platform offers a robust feature set to meet the needs of modern traders. Offering one-click trading, in-depth analytics, indicators, and more through an intuitive interface, SIRIX stands out in the crowded trading platform space. Compatible across web, desktop, and mobile platforms, SIRIX serves 140+ brokers, boasting a massive $70 billion trading volume on its web platform alone.
SIRIX offers an expansive range of over 2,000 trading instruments, providing unparalleled opportunities for traders of all skill levels. Traders can delve into an ocean of opportunities from the traditional to the avant-garde, including the newly introduced cryptocurrency CFDs catering to the growing appetite for digital assets in the marketplace.
Leverate also provides SIRIX Social, a copy trading tool that allows users to follow and replicate the trading methods of experienced traders on the platform. SIRIX is a comprehensive, user-friendly and adaptable trading platform for MT5 broker companies.
7. Match-Trader
Match-Trader, a comprehensive white label platform, offers a user-friendly design and sophisticated charting capabilities, including in-depth technical analysis functionality. The platform’s web-based architecture ensures accessibility from any device with an internet connection, providing a smooth trading experience.
Forex white label partnership with Match-Trader offers extensive branding capabilities, allowing brokers to create a strong and unique brand identity for their brokerage. The platform also integrates seamlessly with client offices and CRM systems, simplifying management for brokers and providing a streamlined experience for traders.
Match-Trader’s built-in payment gateway facilitates quick and seamless account funding, with complete automation on the broker’s end, further enhancing the overall trading experience.
8. Quadcode Trading
Quadcode Trading, a white label solution designed “by traders, for traders,” offers a high level of customisation and a diverse range of multi-asset liquidity. The platform allows brokers to tailor their trading instruments, assets, menu options, and more, catering to the unique needs of their business.
In addition to its customisation capabilities, Quadcode Trading provides brokers with the full range of integrated modules, streamlining the process of creating and managing a successful brokerage platform and addressing the industry’s growing regulatory challenges.
Quadcode Trading’s seamless integration with client offices and CRM systems further simplifies the management and administration tasks for brokers, allowing them to focus on their core business objectives.
9. Netdania
Netdania is a long-standing provider of trading solutions. The company’s platform offers brokers a plug-and-play solution with a wide selection of customisable features.
Netdania’s platform is designed to deliver a seamless trading experience with a focus on speed, performance, and accessibility. The platform is available on web, desktop, and mobile devices, ensuring that traders can access their accounts from anywhere.
Netdania integrates with a wide range of liquidity providers, allowing brokers to choose the best fit for their business needs. This flexibility, combined with the platform’s robust technical capabilities, makes Netdania a compelling option for brokers seeking a reliable alternative to MT5 white label multi-asset latest trading platform.
10. WOW Trader
TradeSmarter’s WOW Trader is a comprehensive white-label platform for both beginner and advanced traders. The platform’s standout features include advanced risk management tools, tiered leverage options, and a range of social features, such as trading tournaments and leaderboards.
WOW Trader’s unique design approach aims to provide a consistent user experience across a range of trading products, including FX, CFDs, and non-margin real accounts. This cohesive approach helps to reduce the learning curve for traders and enhances the overall usability of the platform.
The platform’s integration with over 300 payment gateways and 180+ liquidity providers further enhances the breadth of trading opportunities available to brokers and their clients. WOW Trader’s focus on social features and data visualisation also sets it apart, fostering a more engaging and collaborative trading environment.
11. Fortex
Fortex, with its xForce multi-asset trading platform, has emerged as a viable alternative to the MT5 white label solution. The platform offers a flexible licensing model with a fixed monthly minimum fee and a transaction-based fee structure, allowing brokers to scale their offerings as their business grows.
Fortex boasts multi-asset capabilities, supporting a wide range of instruments, including FX, CFDs, futures, and equities. The platform’s built-in liquidity aggregator enables brokers to connect with a diverse range of liquidity providers, ensuring competitive pricing and execution for their clients.
Fortex’s robust API capabilities, including FIX API 4.4, WebSocket API, and RESTful API, cater to the growing demand for algo trading and high-frequency trading strategies. With this flexibility and sophistication, Fortex gives brokers a competitive edge in offering advanced trading technology.
What Brokers Should Consider in MetaTrader Alternatives?
As brokers navigate the transition away from the MetaTrader ecosystem, several critical factors must be considered:
- Branding Capabilities: Look for platforms that offer extensive branding options, allowing you to tailor the online trading experience to your brand and target audience.
- Vendor Neutrality: Prioritise platforms that provide vendor-neutral solutions, enabling you to integrate with the liquidity providers and third-party services of your choice.
- Pricing: Assess the platforms’ pricing models, ensuring they align with your business goals and budget. Compare with MT5 white label cost and that of other providers.
- Regulatory Compliance: Ensure the platform you choose is compliant with the relevant regulatory standards in your jurisdiction, mitigating legal and reputational risks.
- Technical Capabilities: Evaluate the platforms’ trading infrastructure and its capabilities, such as order execution, data analytics, and automated trading functionalities, to ensure they meet the needs of your traders.
- Ecosystem and Community: Consider platforms that offer a robust ecosystem of tools and integrations and a thriving community of developers and traders.
- Scalability and Future-Proofing: Choose a system that will expand as your business grows, offering the flexibility to expand into new asset classes and trading strategies as your needs evolve.
The Role of Diversification
With the emergence of new trading platforms, diversification and multi-platform offerings have become increasingly important to brokers. Relying solely on a single platform can expose brokers to a certain degree of risk, as evidenced by the recent challenges companies face due to the MT4 and MT5 licensing issues.
Brokers can mitigate these risks and appeal to a broader client base by adopting a multi-platform approach. Ultimately, this strategy enhances the overall trading experience and increases client retention by providing users with multiple options, each with its own unique features and capabilities.
Compliance Component
The forex industry has witnessed a heightened focus on regulatory compliance in recent years, and this trend is expected to continue in the MT5 white label market. Brokers must ensure that the white label platform they choose not only meets the latest regulatory requirements but also provides the necessary tools and technical support to maintain compliance.
MetaQuotes’ tightening of criteria for white label brokers, including the need for regulated entities and corporate bank accounts, clearly indicates the industry’s shift towards a more stringent compliance environment.
Conclusion
While the MetaTrader 4/5 platforms remain powerful options for millions of traders, the new reality compels brokers to explore reliable alternatives. Multi-platform offerings can also benefit companies, allowing them to appeal to a broader market and provide a more comprehensive service for their clients.
As you navigate the evolving landscape of white label platforms, be sure to conduct thorough due diligence on each option. Evaluate the features, compliance capabilities, and overall fit with your business model to ensure that the platform
FAQ
What is an MT5 white label?
An MT5 white label is a program that empowers brokers and IBs to establish their own white label forex broker with an MT5 platform and comprehensive back office support. It includes all the essential tools for a thriving business venture.
What is the MT5 server license cost?
The MT5 full server license is priced at $7,500 and includes all necessary components for running the server. Additional expenses such as hiring a professional team are not included in this cost.
Can traders use MT5 without a broker?
No, MT5 cannot be used without a broker. Traders must have an open trading account with a brokerage to unlock the platform’s tools and features.
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