MT5 White Label or MetaTrader 5 White Label is the successor to MT4 White Label which was launched about 2 decades back and still leads all Forex White Labels in terms of popularity among the forex traders. MT5 White Label is an advanced upgrade to MT4 which was primarily developed for Forex Trading.
MT5 has been developed for larger traders base which are interested trading not only the Forex but also the exchange traded instruments like shares, stocks, bonds, futures and options contracts etc.
MT4 White Label v/s MT5 White Label
- We can safely credit MT4 White Label for the development of Online Forex Trading Market. MT4 helped Forex Trading to reach every nook and corner of the world and now small retail traders too can trade into forex with the help of brokers using MT4 Trading Solution.
- But MT4 had its limitations; it was developed primarily keeping the Forex Trading in mind. It was developed for Forex Traders and currency pairs. MT4 has limited functionalities for Exchange traded instruments like stocks, shares, bonds, futures and options contracts etc. MT5 has solved this problem and now exchanges instruments too can be traded on it.
- Although enough for forex traders at that time, MT4 has fewer indicators and chart options. As the Forex Trading Market grew so did the ways to do the technical analysis. Charts, indicators, volumes etc. are at the core of most of technical analysis. So there are greater need for more and more indicators, charts and design cum drawing tools. MT5 comes packed with more indicators, charts and drawing tools for Technical Analysts.
- Another limitation with MT4 has been the capping on number of instruments which is 1024. It means a total of 1024 trading instruments can be added in an MT4 Admin and can be assigned for trading which was more than enough as it was used only for Forex Trading.
- But when you are talking about exchanges traded instruments including futures and options contracts that expire every week, month, quarter and year; one practically needs scope to add unlimited trading instruments. MT5 has removed the capping on number of trading instruments and you can add unlimited instruments now.
- Last but not the least, one needs several add-ons like MT4 Liquidity Bridge to connect with Liquidity Providers in MT4. MetaTrater5 comes with an in-built liquidity bridge with provision to connect with some very popular and trusted liquidity providers.
- Rest of the features and components of an MT5 White Label remain same as MT4 White Label which was have already discussed in a dedicated blog. Please check them here.
MT5 White Label Cost
MetaQuotes has stopped giving out MT4 Admin License at least 2 years ago and is pushing MT5 White Label. They had to do it as even after 10 years of launch, MT5 did not get the adaptability among the Forex Traders and brokers as they were expecting when they launched it.
MT4 still holds the position of single most popular Forex Trading Platform among the Forex Traders and forex brokers are kind of forced to go with MT4 White Label only.
Another reason is that several entrepreneurs fear that the MT5 White Label would cost more than MT4 White Label. It’s true that there are few MT5 White Label Solution Providers who do charge a premium over an MT4 White Label as they had to shell out a premium to get the MT5 Admin License.
But there are many forex brokerage solution providers that don’t charge anything extra for MT5 White Label. They charge the same pricing for a MetaTrader 5 White Label that they charge for MT4 White Label.
The cost structure of MT5 White Label is the same as MT4 White Label which we have already discussed in a dedicated blog about MT4 White Label. You can check the detailed pricing here.
So if you are looking to buy turnkey Forex Brokerage Solution which includes fully branded, MT5 White Label with Forex Broker CRM, Traders Room, Affiliate Module, PAMM, MAMM Software, Payment Gateway, Liquidity Providers, Forex Website etc., it could cost you as low as USD 5500+ in Set Up Fee and USD 3000 in monthly charges for Desktop & Mobile App.
The million-dollar question that remains is whether you should go with MT4 White Label or MT5 White Label solution as the traders are still hooked up to MT4 Trading Platform.
We won’t beat around the bush and give you a diplomatic answer. A straight answer to the question of whether to choose MT4 or MT5 White Label for your own forex brokerage business, we would recommend that you go with MT5 White Label.
Just look up MT5 White Label providers, ask for their package details along with quotes, and ask for DEMO. When you look at the DEMO, you will know how it’s far better than MT4 and how it will help you are Forex Broker and your clients are traders to benefit immediately and going forward.
In our experience, not one person denied taking MT5 over MT4 after seeing the terminal on the demo. It’s so good.
Should you have any more queries, please feel free to write to us. We will be happy to help you.