How Prop Firms Can Still Use MT5 After the MetaQuotes Ban

If you run a prop trading firm, you probably remember the panic. In early 2024, MetaQuotes started pulling MT5 access from brokers that served prop firms. Dozens of firms lost their trading platform overnight. FTMO, one of the biggest names in the space, had to scramble for alternatives. Smaller firms shut down entirely.

But here is the thing: plenty of prop firms are still running on MetaTrader 5 today. They did not switch to cTrader. They did not move to DXtrade. They found a way to keep offering MT5 without showing up on MetaQuotes' radar.

This post breaks down exactly what happened, why it happened, and the three options prop firms have right now. If you are running a prop firm or thinking about starting one, this is the information you need.

What MetaQuotes Actually Did

MetaQuotes is the company behind MetaTrader 4 and MetaTrader 5. They license the software to brokers, who then offer it to retail traders. For years, prop firms used MT5 through these broker partnerships. It worked fine. Nobody complained.

That changed in late 2023 when MetaQuotes started auditing how brokers used their platform. They found that many brokers were providing MT5 access to prop firms, which run simulated trading environments rather than executing real trades on the market.

MetaQuotes decided this was a violation of their license terms. Their platform was built for real brokerage operations, not for challenge accounts and funded trader programs. By early 2024, they started terminating server access for brokers connected to prop firms.

The impact was immediate. Firms that had built their entire business around MT5 suddenly had no platform. Traders who had passed challenges and were trading funded accounts got locked out. It was a mess.

Why Traders Still Want MT5

You might think the obvious answer is to just switch platforms. Use cTrader, use DXtrade, use TradeLocker. Problem solved, right?

Not really. Over 80% of retail forex traders use MetaTrader. They know the interface. They have custom indicators built in MQL5. They run Expert Advisors that only work on MT5. Asking them to switch platforms is like asking someone to learn a new language just to order coffee.

Prop firms that switched away from MT5 saw real consequences: lower signup rates, more support tickets, and traders leaving for competitors that still offered MetaTrader. The platform matters more than most firm owners expected.

The 3 Options for Prop Firms Right Now

Which Option Makes the Most Sense?

It depends on what matters most to your business. If keeping your existing traders happy is the priority, and you want the lowest cost and fastest setup, a grey label is the clear winner. Your traders do not even notice a difference because they are still using MT5.

If you are starting fresh and your target audience does not have strong MT5 habits, cTrader is a solid choice. It is growing fast and the platform is well-built.

DXtrade makes sense if you have a bigger budget and want maximum backend control. But for most prop firms, especially those just starting out or those that need to move quickly after losing MT5 access, the cost and setup time are hard to justify.

How to Get Started with a Grey Label

The process is straightforward. You partner with a broker that holds an active MT5 server license. They create a Manager account for you on their server. You configure your trading groups, set your spreads and commissions, apply your branding, and start onboarding traders.

The whole thing takes about two weeks from start to finish. There is no MetaQuotes application, no license fee, and no approval process. You are up and running with the same MT5 platform your traders already know.

For a detailed breakdown of how the grey label model works, check our MT5 Grey Label guide. If you want to see how it compares to other platforms side by side, we have comparison pages for cTrader, TradeLocker, and DXtrade.