Prop trading firms
Prop firms with MT5: how to start a prop firm with your own MT5 licence
To offer MT5 to your traders today, your prop firm generally needs its own platform licence from MetaQuotes, signed by a clean, well-documented company. Many firms use a St Lucia IBC for this: we form it through licensed registered agents and prepare the document pack MetaQuotes reviews. The approval decision always rests with MetaQuotes.
- St Lucia IBC with trading and financial services objects
- The 10-document MetaQuotes pack, consistent from day one
- Incorporation in about 3–5 business days after due diligence
- Website, UBO and excluded-market checks before you apply
Several prop trading firms restored MT5 in 2025 by incorporating in Saint Lucia and licensing directly from MetaQuotes. A prop firm needs its own entity with financial services objects, a legal opinion, consistent UBO records, a bank or PSP letter and a compliant website.
Short answer
Can a prop firm still run on MT5 in 2026?
Yes, but usually only with a direct licence in its own name. The days of plugging a prop firm into MetaTrader through a broker’s server or a reseller’s white label are largely over. What works now is a legal entity that contracts with MetaQuotes directly, holds its own MT5 licence, owns the website and domain shown in the terminal, and can show who stands behind it.
In practice that means four things: a company whose stated activities cover trading and financial services, a corporate file that matches the real beneficial owners, a website that clearly states who you are and which countries you do not serve, and a bank or payment provider willing to vouch for you. A St Lucia International Business Company (IBC) is one of the routes prop firms have used to meet the first three points quickly.
This page explains what changed, why St Lucia appears so often in this conversation, the exact steps and documents, and where firms usually get stuck. For the wider business side (evaluation models, risk desk, payouts), read our guide on how to start a prop firm.
Background
What happened to prop firms and MT5 in 2024 and 2025
According to widely circulated trade press reports, from February 2024 MetaQuotes began withdrawing MetaTrader access from prop trading firms that used the platform without a direct relationship, typically through a third-party broker’s server or a white label. Firms serving US traders appear to have been the main focus. Several firms paused new sign-ups, migrated traders to other platforms or closed altogether.
Through 2025, trade press and the firms’ own announcements reported that a number of well-known prop brands had brought MT5 back. The common thread in these reports was a dedicated company (St Lucia was frequently mentioned), a licence taken directly from MetaQuotes, and a business that excluded US traders. We cannot confirm the details of any individual firm’s arrangement, and MetaQuotes does not publish its internal criteria for prop firms, so treat these accounts as market reports rather than a rulebook.
What MetaQuotes does publish is useful. Its broker pages state that an applicant needs “a registered company, with the relevant business activities registered”, a corporate bank account, and a website showing the registration number, addresses, risk disclosures and restricted countries. Those public requirements, together with the document requests applicants receive, are what this page is built around. See our MetaQuotes requirements page for the full picture.
Options
Three ways a prop firm can give traders a platform
Before you incorporate anything, decide which route you are on. Only one of them puts the MT5 relationship in your own hands.
| Own MT5 licence (your entity) | Broker server or white label | Alternative platform | |
|---|---|---|---|
| Who contracts with MetaQuotes | Your company, directly | The broker or provider | Nobody (different vendor) |
| Risk of losing MT5 access | Tied to your own compliance | Tied to the provider’s status and MetaQuotes’ policy | Not applicable |
| New MT5 white labels available | Not needed | Reported to have stopped for new clients since late 2022 | Not applicable |
| Trader familiarity | High (MT5) | High while it lasts | Varies; some traders resist switching |
| What you must prepare | Entity, corporate file, website, bank letter, KYC | A contract with the provider | A contract with the vendor |
| Typical fit | Firms planning to operate long term | Legacy set-ups, increasingly rare | Firms that do not need MetaTrader |
For a deeper comparison, see our guide on MT5 white label vs full licence. Platform availability is set by each vendor and can change.
Jurisdiction
Why prop firms use a St Lucia IBC, and what it is not
A Saint Lucia IBC is incorporated under the International Business Companies Act (Cap. 12.14) through a licensed registered agent. For a prop firm, the attractions are practical:
- Speed. Once the agent’s due diligence is complete, incorporation generally takes about 3–5 business days, and the supporting documents (legal opinion, incumbency, address proofs) usually follow within about a week.
- Flexible objects. The memorandum can state online trading and financial services activities, which is what MetaQuotes looks for, and a local legal opinion can confirm it.
- Light structure. One director is enough, with no local director requirement; only the memorandum and articles, the registered agent and the registered office are on the public file.
- Clear paperwork. Registers of directors and shareholders are kept at the agent, so producing certified registers and an incumbency certificate for MetaQuotes is routine.
What it is not: a forex or brokerage licence. The St Lucia Registry states that “Saint Lucia does not currently regulate or licence Forex Trading or Binary Options business”, and the Financial Services Regulatory Authority has warned that documents suggesting a forex company is licensed by it are “false and misleading”. Never describe your firm as “regulated in St Lucia”. Whether your evaluation and payout model needs a licence depends on where your traders are located, so take local advice on your target markets. We are not a law firm and do not give that advice.
Two further points. IBCs incorporated since 2019 are tax resident and, since 1 July 2021, all IBCs must file annual tax returns. And IBCs are expected to have substance proportionate to their activity. Our St Lucia company formation page covers both, and our prop firm MT5 in Saint Lucia guide goes deeper on the jurisdiction choice.
Our service
What we prepare for prop trading firms
St Lucia operating entity
An IBC formed through a licensed registered agent to hold the platform licence and contract with traders, fitted around your existing group structure.
Legal opinion
A St Lucia legal opinion confirming the company may conduct online trading and financial services, which MetaQuotes recommends applicants provide.
Complete corporate file
Updated registers showing the real UBO, incumbency, and registered and physical address proofs, all consistent with each other and with your application.
Website and market exclusions
A review of your website’s company details, risk warning and jurisdiction disclaimer, so restricted markets (including the US) are stated the same way everywhere.
Step by step
How to start a prop firm with MT5: the St Lucia route
The order matters. Most delays come from doing step 6 before steps 1–5 are consistent.
Define the model and the markets you will not serve
Write down how evaluations, funded accounts and payouts work, and list excluded countries (the US is the obvious one). This decision drives your terms, website and onboarding, and MetaQuotes will see all three.
Before you startChoose the structure
Decide whether the St Lucia IBC will be a new standalone company or part of an existing group. Many groups keep their current company for marketing or technology and use the IBC for the licence and trader contracts.
1–2 daysComplete due diligence with the registered agent
Directors and shareholders provide passports, proof of address and source-of-funds information, plus the statutory declaration required for IBCs. Only a licensed registered agent can incorporate an IBC.
Varies with your documentsIncorporate the IBC
Name check, then the agent files the memorandum and articles with trading and financial services objects. The company name must end in “International Business Company” or “IBC”.
About 3–5 business days after due diligenceBuild the supporting file
Legal opinion, certified registers, incumbency, proof of registered and physical address, and nominee support papers where nominees are used.
About 1 weekAlign the website and domain
The applying company should own the domain shown in the terminal. The site must show the company name, registration number, registered and physical addresses, contact details, risk warning and served and non-served jurisdictions.
In parallel with step 5Obtain a bank or PSP reference letter
A corporate bank reference letter addressed to MetaQuotes, or a certified statement or payment provider letter where that is accepted. This is often the slowest item, so start early.
Depends on the bank or PSPApply to MetaQuotes and complete SumSub
Submit the pack, then the signatory and UBO complete SumSub identity verification. MetaQuotes may ask follow-up questions. If approved, the first payment covers three months of licence fees.
Set by MetaQuotesDocuments
The 10 documents MetaQuotes asks for, with prop firm notes
This is the list applicants receive in practice. Every document must tell the same story: the same company name, the same owners, the same addresses.
| # | Document | Prop firm note |
|---|---|---|
| 1 | Certificate of Incorporation | Issued by the St Lucia Registry via the registered agent. |
| 2 | Certificate of Good Standing or Incumbency | Needed if the company is more than six months old; existing companies should order a fresh one. |
| 3 | Register of Directors | Must match the signatory who completes SumSub. |
| 4 | Register of Shareholders (UBOs) | Show the real owners; nominee arrangements need supporting documents. |
| 5 | Proof of registered address | The registered agent’s office in St Lucia. |
| 6 | Proof of physical address | Utility bill, corporate document or certified confirmation letter for a real operating address. |
| 7 | Domain ownership and compliant website | Domain in the company’s name; risk warning and jurisdiction disclaimer visible. |
| 8 | Confirmation of activities | Memorandum objects or a legal opinion confirming trading and financial services. |
| 9 | Corporate bank reference letter | Addressed to MetaQuotes, or a certified bank statement. |
| 10 | SumSub verification | For the authorised signatory and each UBO. |
Requirements are set by MetaQuotes and can change. Our guides on the legal opinion and the bank reference letter explain items 8 and 9 in detail.
Work with us
Your St Lucia IBC and MetaQuotes pack, prepared as one file
Most rejected or stalled applications we see do not fail on one big issue. They fail on small inconsistencies: a register that lists a nominee while SumSub shows someone else, a website with no physical address, a memorandum that says “general trading”. We prevent that by preparing the company and the MetaQuotes pack together.
What you get:
- Your St Lucia IBC formed through licensed registered agents, with objects covering online trading and financial services.
- A St Lucia legal opinion, certified registers, incumbency, and registered and physical address proofs.
- Nominee director or shareholder support where your structure calls for it, documented so the UBO is still clear.
- A website and domain review against MetaQuotes’ published requirements, including your excluded-markets wording.
- Help with the bank reference or PSP letter, and a final consistency check of all 10 documents before you submit.
We are not affiliated with MetaQuotes, we do not resell its licences and we cannot promise approval. What we can do is make sure your file is complete and consistent when it lands. Tell us about your firm at info@stluciacompany.com or through our contact form, and compare what each option includes on our packages page.
Before you apply: a prop firm readiness checklist
Tick every line before you send anything to MetaQuotes.
Already rejected once?
Send us the feedback you received. We will review your file, fix the gaps and help you prepare a stronger resubmission.
- The applying company owns the domain shown in the MetaTrader terminal
- Website shows the company name, registration number, registered and physical addresses, and contact details
- Risk warning and served and non-served jurisdictions stated on the site
- Terms, sign-up flow and payment settings block the markets you exclude
- Memorandum or legal opinion covers trading and financial services
- Registers of directors and shareholders match the real UBO
- Bank reference letter (or PSP letter) addressed to MetaQuotes
- Signatory and UBO ready for SumSub verification
- First payment ready: three months of licence fees, paid to MetaQuotes
Sizing
Which MT5 tier fits a prop firm?
MetaQuotes sells MT5 licences in tiers based on the number of real trading accounts. Plan for growth, because moving up a tier is easier than explaining why you exceeded one.
| Tier | Real accounts included | Typical prop firm stage |
|---|---|---|
| Entry | Up to 1,000 | New firm testing demand or a niche community |
| Standard | Up to 25,000 | Established brand with steady funded-trader volume |
| Enterprise | Up to 200,000 | Large multi-brand or high-volume operation |
How evaluation and demo accounts count towards these limits is a question to confirm with MetaQuotes for your model. Licence terms and fees are set by MetaQuotes and paid directly to MetaQuotes.
Pitfalls
Where prop firm applications usually stall
- Mixed messages on the US. The website says “not available to US residents”, but the sign-up form still accepts US addresses and the FAQ mentions US payouts. Make every channel say the same thing.
- A domain owned by someone else. The domain is registered to the founder personally or to an old group company. Transfer it to the applicant first.
- Hidden owners. Nominees are fine as a privacy tool, but the real UBO must still be disclosed to MetaQuotes and pass SumSub.
- Vague activities. “General trading” or “consulting” objects do not show a trading and financial services business. Fix the memorandum or obtain a legal opinion.
- “Regulated in St Lucia” claims. St Lucia does not licence forex. Claiming otherwise undermines the whole application and can attract regulatory warnings.
- Leaving the bank letter until last. Banks and payment providers take their own time. Open the conversation as soon as the company exists.
Our guide to the legal opinion for an MT5 licence explains how to fix point 4, and the white label vs full licence guide helps if you are still deciding on the route.
Prop firms with MT5: frequently asked questions
Can a prop firm get an MT5 licence in its own name?
Yes. Since 2025 several prop firms have publicly announced that MT5 is back after taking licences directly from MetaQuotes. MetaQuotes assesses each applicant on its own merits: the entity, the owners, the business model and the markets served. Nobody, including us, can guarantee the outcome.
How do I start a prop trading company with MT5?
Define your model and excluded markets, form a company whose objects cover trading and financial services, build a consistent corporate file, align your website and domain, obtain a bank or PSP reference letter, then apply to MetaQuotes and complete SumSub. The steps section above sets out the order and typical timing.
Why did MetaQuotes cut off prop firms in 2024?
MetaQuotes did not publish a detailed explanation. Trade press linked the move to prop firms using MetaTrader through third parties without a direct relationship, with US-facing activity a particular concern. The practical lesson is that a direct licence with clear ownership and excluded markets is now the expected set-up.
Can we keep serving US traders?
MetaQuotes has restricted MetaTrader access for US-facing prop activity, and the firms reported to have regained MT5 did so for non-US traders. Your terms, website, sign-up flow and payment settings must be consistent on this point. Take local legal advice on any market you do serve.
Is a St Lucia IBC a forex or prop trading licence?
No. The St Lucia Registry states that Saint Lucia does not currently regulate or licence forex trading, and the FSRA has warned against companies claiming otherwise. The IBC is a legal entity that can hold the MT5 licence and contract with traders; it is not a financial regulator’s authorisation.
How long does the St Lucia part take?
Incorporation generally takes about 3–5 business days once the registered agent has completed due diligence. The legal opinion, incumbency, address proofs and other supporting documents usually follow within about a week. MetaQuotes’ own review time is outside our control.
We already have a company elsewhere. Do we need a new one?
Not necessarily. If your existing company already meets MetaQuotes’ requirements, it may apply directly. Many groups, however, keep their current company for marketing or technology and use a St Lucia IBC to hold the platform licence and trader contracts. We look at your current structure before recommending anything.
Can we use nominee directors or shareholders?
Yes, nominee services are available through the registered agent, and the registers can show nominees. MetaQuotes still needs to see the real beneficial owner, supported by nominee documents, and the UBO must pass SumSub. Nominees provide privacy on the corporate file, not anonymity towards MetaQuotes.
Do we need a physical office in St Lucia?
The IBC must have a registered agent and registered office in St Lucia at all times. MetaQuotes also asks for proof of a physical address, which can be an operating address supported by a utility bill, corporate document or certified confirmation letter. IBCs are also expected to keep substance proportionate to their activity.
Which MT5 tier should a new prop firm choose?
MetaQuotes offers Entry (up to 1,000 real accounts), Standard (up to 25,000) and Enterprise (up to 200,000). Most new firms start at Entry and grow. Confirm with MetaQuotes how your evaluation and funded accounts count towards the limit.
Does the St Lucia IBC pay tax?
IBCs incorporated from 2019 are tax resident in St Lucia, and since 1 July 2021 all IBCs must file annual tax returns. There is also an annual government fee payable by 15 January each year. Speak to a tax adviser about your group as a whole; we are not tax advisers.
What if MetaQuotes rejects our application?
Read the feedback carefully: it usually points to a specific gap such as the website, ownership documents or activities wording. We can review the file, correct the inconsistencies and help you prepare a resubmission. A second application with the same problems is unlikely to succeed.
Sources
Primary sources used on this page
- MetaQuotes, MetaTrader 5 for brokers, licence tiers: metatrader5.com/en/brokers/buy
- MetaQuotes, how to start a brokerage business: metatrader5.com/en/brokers/how-to-start-a-brokerage-business
- Saint Lucia Registry of IBCs, FAQ (forex not licensed; IBC tax filing): saintluciaifc.com/faq
- International Business Companies Act, Cap. 12.14: saintluciaifc.com (PDF) and amendments at saintluciaifc.com/legislation
- IBC annual fee schedule: saintluciaifc.com/fee-schedule
- FSRA warning notice on forex companies: fsrastlucia.org
Accounts of the 2024 withdrawals and 2025 returns come from trade press and firms’ public announcements and are summarised, not verified. This page is general information, not legal, tax or regulatory advice. Last reviewed October 2026.
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