"Should I get a grey label or a white label?" This is the first question most people ask when they want to launch a brokerage on MetaTrader 5. The answer depends on your budget, your timeline, and whether you run a prop firm.
Both options give you a branded MT5 platform with your company name on it. Both let you manage accounts, set spreads, and onboard traders. The differences are in cost, speed, independence, and risk. Let me break it down.
The Short Version
A white label means you get your own dedicated MT5 server with a direct MetaQuotes license. You own the infrastructure. You also own the $5,000+ setup bill and the 1 to 3 month wait.
A grey label means you operate on a licensed broker's existing MT5 server. You get your own MT5 Manager, your own branding, and full control over your trading groups. But you share the server, and you do not have a direct MetaQuotes relationship. That last part is actually a feature, not a bug, especially if you run a prop firm.
| Factor | Grey Label | White Label |
|---|---|---|
| MetaQuotes License | Not needed | Required |
| Setup Cost | $0 upfront | $5,000+ |
| Monthly Cost | From $5/account | $2,000+ |
| Time to Launch | ~2 weeks | 1-3 months |
| Own Server | No (shared) | Yes (dedicated) |
| MT5 Manager | Yes | Yes |
| Custom Branding | Yes | Yes |
| Visible to MetaQuotes | No | Yes |
| Prop Firm Safe | Yes | No (ban risk) |
When Grey Label Makes More Sense
For most people reading this, a grey label is the right call. Here is why.
If you are a startup broker, you probably do not have $100,000 sitting around for a full license. You might not even have $5,000 for a white label setup fee. A grey label lets you test the market, build a client base, and generate revenue before committing to bigger infrastructure. Think of it as a proof of concept that actually makes money.
If you run a prop firm, a grey label is not just cheaper. It is safer. Since MetaQuotes started banning prop firms in 2024, any firm with a direct MetaQuotes relationship is a target. A grey label keeps you invisible. Your accounts look like regular brokerage accounts on the host server. MetaQuotes has no way to identify you as a prop firm.
Read more about the ban in our MetaQuotes prop firm ban explainer.
When White Label Makes More Sense
A white label is worth it if you need full independence. You get your own dedicated server, which means better performance at scale and no dependency on a host broker. If you are processing thousands of trades per day and need guaranteed uptime with custom server configurations, a dedicated setup matters.
It also makes sense if you are a regulated broker that needs to show regulators you control your own trading infrastructure. Some jurisdictions require this for licensing purposes.
The common path: start with a grey label to validate your business, then upgrade to a white label once you have the volume and revenue to justify the cost. Many successful brokers followed exactly this route.
What About a Full License?
A full standalone MT5 license from MetaQuotes costs $100,000 or more. You get complete control over everything, including the ability to host other white labels on your server. This is what the big brokers use.
Unless you are already running a large operation with thousands of active traders, this is overkill. It is like buying a commercial kitchen when you just want to sell sandwiches at a farmers market. Start small, scale up.
Key Takeaways
- 1.Grey label: fastest, cheapest, invisible to MetaQuotes. Best for startups and prop firms.
- 2.White label: dedicated server, full independence, but $5,000+ setup and months of waiting.
- 3.Start grey, upgrade later. Most successful brokers did not begin with a full license.