- In February 2024, MetaQuotes cut off MetaTrader access for many prop firms without direct agreements.
- In 2025, several prop firms announced that MT5 was back after incorporating in Saint Lucia and licensing directly.
- The winning formula: your own entity, clear ownership, a legal opinion, a bank reference and a transparent website.
- US-facing activity remains a sensitive area. Most firms restored MT5 for non-US traders.
What happened in 2024
In February 2024, MetaQuotes started enforcing its licensing policy against firms that offered MetaTrader through brokers or technology providers without a direct relationship, with particular attention on prop trading firms serving US clients. Several of the best-known prop firms lost access to MT4 and MT5 almost overnight and had to move traders to alternative platforms.
The 2025 comeback
Traders never stopped asking for MetaTrader. Through 2025, industry media reported that prop firms including Funding Pips (March 2025) and Funding Traders (May 2025) had restored MT5, in each case after registering in Saint Lucia and obtaining a license directly from MetaQuotes. Other firms followed with Saint Lucia CFD brokerage entities.
Why Saint Lucia specifically
- An IBC can be formed in days, fully foreign-owned, with one director and one shareholder.
- No local FSRA licence is required for FX/CFD activity with non-resident clients, and a legal opinion documents this.
- The entity can be incorporated with trading, forex and financial services objects, one of MetaQuotes' core conditions.
- Registered agents can issue all the corporate documents on MetaQuotes' checklist, including proof of a physical address.
What a prop firm needs to apply
- A Saint Lucia IBC with trading/financial services objects.
- A legal opinion or representation letter confirming its activities.
- Updated registers showing the real UBO (supporting papers if nominees are used).
- Proof of registered and physical addresses.
- A corporate bank reference letter or PSP letter.
- A website owned by the company, showing its name, addresses, contacts, risk warning and jurisdiction disclaimer.
- SumSub verification of the signatory and UBO.
- Budget for the first payment of three months' license fees.
The consistency test
Prop firms often run several brands, entities and websites. MetaQuotes needs one clear picture: which company holds the license, who owns it, where it operates and which traders it serves. Make sure your terms, website footer and onboarding flow all name the same entity and the same restricted jurisdictions.
Our Prop Firm MT5 Setup service is built around this test.
Frequently asked questions
Can a prop firm keep US traders on MT5?
MetaQuotes has specifically restricted US-facing prop activity on MetaTrader. Firms that regained MT5 have generally done so for non-US traders.
Do we need to move our whole business to Saint Lucia?
No. Many groups keep their existing companies for marketing and technology and use a Saint Lucia entity to hold the platform license and contract with traders.