Glossary
What is MT5 Grey Label?
Everything you need to know about the MT5 Grey Label model and how it differs from a white label or full license.
Definition
An MT5 Grey Label is a setup where you operate a brokerage or prop firm on MetaTrader 5 under an existing licensed broker's server. You get your own MT5 Manager access, custom branding, and full control over trading groups, spreads, and commissions. The key difference from a white label: you do not need to apply for or pay for your own MetaQuotes license.
How MT5 Grey Label Works
Partner with a licensed broker
A host broker with an active MetaQuotes MT5 server license provides you access to their infrastructure.
Get your own MT5 Manager
You receive MT5 Manager credentials with permissions to create accounts, set trading groups, and manage risk.
Apply your branding
Your company name, logo, and domain appear on the trading platform. Traders see your brand, not the host broker.
Go live
Start onboarding traders within about 2 weeks. You control spreads, commissions, and account settings through MT5 Manager.
Grey Label vs White Label vs Full License
| Aspect | Grey Label | White Label | Full License |
|---|---|---|---|
| MetaQuotes License | Not required | Required | Required |
| Setup Cost | $5 per account | $5,000+ setup + monthly | $100,000+ |
| Setup Time | ~2 weeks | 1-3 months | 3-6 months |
| MT5 Manager | Yes | Yes | Yes |
| Own Server | No (shared) | Dedicated | Dedicated |
| Prop Firm Safe | Yes | No (visible) | No (visible) |
Who Uses MT5 Grey Label?
Startup Brokers
New brokerages that want to offer MT5 without the cost and time of getting their own MetaQuotes license. Launch fast, grow, then upgrade later if needed.
Prop Trading Firms
Prop firms that need MT5 for their traders but must avoid the MetaQuotes ban. Grey label keeps your firm invisible to MetaQuotes enforcement.
Frequently Asked Questions
Is MT5 Grey Label legal?
Yes. You operate under a licensed broker's MT5 server with their permission. This is a standard business arrangement in the forex industry.
Can MetaQuotes detect a grey label setup?
No. Your accounts appear as regular accounts on the host broker's server. There is no separate registration with MetaQuotes, so your firm stays invisible.
What is the difference between grey label and white label?
A white label requires your own MetaQuotes license and gives you a dedicated server. A grey label operates under an existing license, which is faster, cheaper, and invisible to MetaQuotes. See the white label glossary entry for more details.
Get Your MT5 Grey Label Setup
Go live in 2 weeks. No MetaQuotes license required. $5 per account created.