White Label MT4 vs MT5: An Inside Look
Articles
Through white label trading platforms solutions, you may create a brokerage firm without having to buy the complete trading platform itself. Opting for a WL platform you rent out a piece of the server, getting the same advantages as the server owner, but without having to foot the costly expense for investing in the complete platform structure ownership and also avoiding the pains and hassles that come with the technical troubles. In a word, if your purpose is to become a competitive forex broker your best approach is via a MetaTrader 4/ MetaTrader 5 white label solution.
The MetaTrader 4 and its sister the MetaTrader 5 easily top the list of the most creative, quick, and efficient trading platforms in the world. Both are built by MetaQuotes, a firm that is a world-class leader when it comes to the production of trading solutions and trading software for brokers.
What is White Label MetaTrader?
You may create a brokerage company without designing your own trading platform by using a white label solution. All of the advantages of owning the whole platform are retained when utilizing a white label platform, but you will save money and avoid numerous technical issues that would arise if you utilized a complete server. Finally, if you’re interested in establishing a competitive forex brokerage, you may choose to explore implementing a WL solution for MetaTrader 4/5.
Introducing Brokers and experienced foreign exchange traders may create their own forex brokerages by using the white label applications for MetaTrader 4 and MetaTrader 5. Along with the core tools, the white label program includes back-office support. This solution is as well-suited to newcomers to the market as it is to more established, seasoned players since it caters to the demands of brokers with varying skill levels.
A well-designed white label solution bundle will remove any barriers to entry that your brokerage may have experienced during its infancy. This is often the case when using the appropriate MT4/MT5 WL solution bundle. Additionally, it is accessible and inexpensive, which is maybe the most important element.
What are the Advantages of the MT4/MT5 White Label?
#1. Low-Cost Forex Market Entry
Purchasing a complete server for your first entry into the forex market is neither prudent nor desirable, and it would cost you a significant sum of money that you might spend elsewhere. By opting for an MT4 white label program, you may get the high quality associated with the MT4/MT5 platform, which is equal to an industry standard and the platform of choice for the majority of brokers and traders, but at a fraction of the expense associated with complete server ownership. Thus, the key benefit of the MT4/MT5 white label solution is a faster and more cost-efficient market entry.
#2. Branded MT4 Platform
To survive in today’s extremely competitive forex trading environment, it is critical that you can completely brand your platform in order to distinguish your product and stand out among rivals in the eyes of prospective consumers. With an MT4 white label solution, you get a completely customized platform that you can brand whatever you want, using your own colors and themes to create that unique feel and appearance that will amaze your visitors and inspire them to become repeat customers.
#3. Cross-Device Support
All devices, including desktop, mobile, and tablet, are supported. MetaTrader 4 is a cross-platform trading software that works on a variety of platforms, including desktop computers, smartphones, and tablets. Thus, by using the MT4 / MT5 white label solution and resolving all compatibility difficulties, you can attract traders using any device and enable them to trade from any location, even on the move. This ease of access for potential clients is critical for company success.
#4. Complete Account Control
MetaTrader 4 is built on a highly dependable security system that protects the user’s privacy and the security of both data and transactions while trading. Additionally, it gives you complete control over all account-related matters, as it includes numerous tools and controls that enable you to manage the entire process from start to finish, including Create/Edit Trading Account, Deposit & Withdrawal, Reports and History Management, and Multiple Accounts Login.
#5. Compatible with Any Liquidity Source
Because the MT4/MT5 white label platform is compatible with any liquidity provider, you have complete discretion over which liquidity provider to engage with. There are no limits or incompatibilities, and even if your original pick proves to be incorrect, you can always quickly and without difficulty move to another liquidity provider. Because the liquidity provider’s function is critical to the health and profitability of your brokerage, you are free to pick whichever one best suits your tastes and circumstances.
MT4 vs MT5 Differences
#1. Programming Language
MT5 is written in a different programming language than MT4, namely MQL5, while MT4 is written in MQL4. Initially, the MQL5 language was the sole framework that allowed trading robots and other expert advisers accessible to people. MetaQuotes, on the other hand, made this option available to MetaTrader 4 customers a few years ago. As a result, this distinction has been eliminated. Having said that, there is a strong possibility that future updates will not include MT4.
#2. Financial Markets Exposure
Originally, MT4 was intended to be used just for Forex transactions; however, as more brokers adopted more instruments, MT4 eventually grew and now includes additional instruments. MT5, on the other hand, was designed to serve all major markets, including equities, futures, and foreign exchange trading instruments. Additionally, MT5 enables a limitless number of symbols, while MT4 has a limitation of 1024.
#3. Trading & Orders
One of the most prevalent day-to-day issues that most traders have with MT5 is that their orders are aggregated when dealing with numerous orders for the same asset. On the other hand, users feel much more at ease while dealing with several orders of the same item in MT4, since each order is shown independently. Pending orders simply relate to the capacity to purchase or sell an item in the future at a preset price.
In terms of order types, MT4 supports four, i.e.buy stop, buy limit, sell limit, and sell stop, but MT5 supports six, including buy stop limit, sell stop limit, and sell stop.
#4. Analysis and Charting Capabilities
MetaTrader4 and MetaTrader 5 are both well-known for their amazing charting capabilities, making them the most sought-after forex trading platforms. MT4 has a basic library of 30 technical indicators and 31 graphical elements, as well as 2000+ free custom indicators, extra commercial indicators, and a choice of nine periods ranging from 1-minute charts to one-month charts. On the other hand, MT5 has 38 pre-installed technical indicators and 44 graphical items that may be applied to 21 various periods. Along with the standard timeframes, MT5 has two, eight, and twelve-hour charts, which may be beneficial for many day traders. Both platforms include popular indicators like the Relative Strength Index, Stochastics, and Bollinger Bands, as well as tools for creating Fibonacci and Elliot waves.
Which Should You Choose: WL MT4 or WL MT5?
After an in-depth examination of the platforms, the following is a rapid recap: In a nutshell, although MT4 is the most popular platform, it does have certain drawbacks. The MT5 platform adds versatility and corrects some of the MT4 platform’s shortcomings, although it is still not as commonly recognized or utilized as its predecessor. Additionally, and while we believe that an MT5 / MT4 white label solution is the most prudent choice for establishing a new forex brokerage, the field is expanding and evolving, and it is not a bad idea to explore different platforms before making your final decision, to compare all available options and determine which is the best fit for you.
If you want assistance with this, the B2Broker – a MT5 / MT4 white label provider is always here to help. Professionals will configure each component according to your requirements, leaving you worry-free. Forex brokers have access to robust software, which offers them an advantage over their competition.
B2Broker delivers a comprehensive solution that handles all elements of business, provides superior customer service, and invests in the growth and development of its people. B2Broker white label trading platforms may be readily linked into current systems (B2Core, IB modules, and other effective solutions). Within 24 hours, the functionality of a WL platform may be adjusted.
Seeking answers or advice?
Share your queries in the form for personalized assistance
