Starting a Forex Brokerage on MetaTrader 5: Licence, Server and Steps

In the industry, "starting an MT5 brokerage" means setting up a company that lets its clients trade financial instruments (forex, CFDs, depending on what its licence allows) through MetaTrader 5, the platform developed by MetaQuotes. Clients use the MetaTrader 5 terminals, but their accounts, orders and history are managed by the broker’s MT5 server.

Whether you call it "becoming a forex broker" or "launching a broker", the project rests on four interdependent pillars.

• The regulatory framework: an incorporated company, a licence suited to the activity and compliance procedures.
• The platform: a MetaTrader 5 server licence granted by the vendor, and the infrastructure that runs it.
• Liquidity and execution: how client orders are passed on, hedged or retained.
• Operations: CRM, back office, payments, support and risk management.

For the platform side, see also our MT5 infrastructure offer for brokers.

Historically, there were two routes to MetaTrader 5. The full server licence, often called the "main label", gives the broker its own installation of the platform. The white label made it possible to operate under your own brand on the infrastructure of an existing licence holder, with limited rights.

In September 2022, MetaQuotes informed its partners that no new white label requests would be processed "until further notice". Since then, the vendor has steered new brokers towards the full server licence and checks the regulatory status of every applicant: a financial licence issued by a recognised regulator has become the usual condition of access.

Some existing white labels remain in service, and the vendor’s page for brokers still mentions this licensing model. Check the situation at the time of your project, rather than building your plan on an unconfirmed white label offer.

MetaQuotes is not a regulator, but the vendor reviews every application before granting access to the platform. The following items come up most often; their exact form depends on the jurisdiction.

• A registered company whose corporate purpose covers the intended financial services.
• A brokerage or investment firm licence suited to the activity (order transmission, dealing on own account, market making) and the target clients, or at minimum an application filed with the regulator.
• A business bank account in the name of the licensed company, not in the name of a third party or a director.
• KYC (know your customer) and AML (anti-money laundering) procedures: identity verification, sanctions screening, transaction monitoring, a designated officer.
• Identified directors and shareholders whose fitness, experience and source of funds can be documented.
• Policies on risk management, conflicts of interest and complaints.

Requirements vary widely from country to country. In Switzerland, FINMA states that foreign exchange dealers domiciled in Switzerland must hold a banking licence. In the European Union, the activity falls under MiFID II, and national authorities apply to CFDs sold to retail clients measures derived from those adopted by ESMA in 2018: leverage limits, margin close-out, negative balance protection, standardised risk warnings.

The choice of jurisdiction determines which clients you can serve, which products are allowed and your capital obligations. It is made with specialised lawyers, before any technical commitment. The vendor may also restrict access from certain jurisdictions.

MetaTrader 5 is built on a distributed architecture: functions are split across several servers, and capacity grows by adding components. With a server licence, the broker runs this infrastructure itself or through a provider.

• The trade server: it processes orders, holds client accounts and groups, applies margin rules and keeps the history.
• Access servers: the entry points for client terminals. They distribute connections, avoid exposing the trade server directly and can be placed in several regions.
• The history server and backups: storage of quotes and data, with restore procedures that should be tested regularly.
• The Administrator terminal: configuration of symbols, groups, trading sessions, gateways and plugins.
• The Manager terminal: management of accounts, deposits and withdrawals, monitoring of positions and risk.
• Client terminals: MetaTrader 5 on desktop, browser, iOS and Android, connected to the broker’s server.
• The vendor’s APIs (Server API, Manager API, Gateway API): they connect the platform to the CRM, the back office and liquidity providers.

Hosting is decided according to the target clients and volume: availability, latency to liquidity providers, redundancy, access security and data location under the applicable regulation.

The MT5 licence comes in several plans, which differ in particular by the number of real accounts supported; the vendor’s purchase page lists the current plans. What we install and configure is detailed on our page for brokers.

The trade server receives client orders, but it does not produce prices. These come from one or more liquidity providers (banks, prime brokers, prime of prime, aggregators), connected to the server through a gateway or bridge.

• The liquidity provider supplies quotes and executes the orders passed to it. It applies its own onboarding criteria: regulatory status, capital, compliance procedures.
• The gateway or bridge connects MetaTrader 5 to the provider, sends orders and receives prices. It may be supplied by the vendor, by the liquidity provider or by a third-party developer.
• Aggregation combines several price sources, to improve market depth and reduce dependency on a single provider.

The execution model defines what the broker does with its clients’ orders. None is risk-neutral, and each must be permitted by the licence and disclosed to clients.

Some licences do not permit dealing on own account, and most regulators require a best execution policy and documented management of conflicts of interest. The choice is made with your compliance officer, before the server is configured.

Your clients’ automated strategies (Expert Advisors) also affect risk: order frequency, latency sensitivity, behaviour around economic releases. Our algorithmic trading guide describes these practices from the trader’s point of view.

MetaTrader 5 manages trading accounts, not the full client relationship. A broker usually relies on additional tools, connected to the server through the vendor’s APIs.

• The CRM and client portal: registration, identity verification, account opening, sales follow-up and, where relevant, management of introducing brokers.
• The back office: reconciliation of transactions, commission calculation, regulatory reports, record keeping.
• Payments: payment service providers, bank transfers and other methods allowed by the applicable regulation. Each provider applies its own acceptance criteria to trading businesses.
• Compliance tools: identity verification, screening for sanctions and politically exposed persons, transaction monitoring.
• Support: client assistance, documentation, risk warnings.

Market solutions or in-house developments: the deciding criterion remains reliable integration with the MT5 server and with your regulatory obligations.

An MT5 infrastructure project generally follows the steps below. Some overlap, and their duration depends mainly on the state of the regulatory file.

1. 1

   Application file

   Presentation of the company, regulatory status, target clients, instruments, execution model and desired timeline.

2. 2

   Qualification

   A call to confirm the project’s eligibility and clarify requirements: expected volume, regions, hosting, liquidity, integrations.

3. 3

   Proposal

   A written proposal setting out the technical scope, each party’s responsibilities, costs and timeline, established according to the project.

4. 4

   Compliance

   Submission of the documents required by the vendor (company, licence or proof of application, directors, bank account). Access to the platform depends on their approval.

5. 5

   Deployment

   Server installation, configuration of symbols, groups and backups, connection to the liquidity provider and the CRM.

6. 6

   Testing

   Verification of order flows, margin calculations, reports, backups and access rights, in a test environment and then on internal accounts.

7. 7

   Launch

   Handover of Administrator and Manager access, opening to the first clients and technical support under the terms of the contract.

To start the first step, you can submit your project through our form.

There is no standard cost or timeline for starting an MT5 brokerage. The figures published online cover different scopes and date quickly. The main factors of variation are as follows.

• Jurisdiction and licence type: regulatory capital, application fees, review period, legal fees.
• The MT5 licence plan: account capacity, number of servers, options, conditions set by the vendor.
• Hosting: number of regions, redundancy, data centres, target availability level.
• Liquidity: provider terms, any collateral deposits, cost of the bridge or aggregator.
• Third-party tools: CRM, back office, compliance, payment providers, website and apps.
• Internal organisation: support, compliance and risk management teams.
• Completeness of the file: an incomplete file delays vendor approval, and therefore deployment.

The timeline depends above all on the regulator, not on the technology provider. A serious estimate requires a review of the project: be cautious with "turnkey" offers that quote a price and a date without knowing your file.

Algo Market Labs® delivers MetaTrader 5 server infrastructure to companies launching a brokerage business, through our partnership with MetaQuotes: trade server, access servers, Manager and Administrator terminals, configuration, connection to your liquidity provider, testing and go-live. The exact scope is set after reviewing the project and is described on our brokers page.

• We do not grant licences and do not replace a regulator.
• We do not provide legal, tax or regulatory advice: these matters belong with your advisers.
• We do not guarantee access to liquidity, approval of the file by the vendor, or a timeline before the project has been reviewed.

If your company is incorporated and licensed, or your application is in progress, you can describe your project. Every request is read by our team and handled confidentially. Information about the site publisher is available in our legal notice.