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Based in Exeter - working across prop trading firms worldwide

Glossary · Platforms

MetaTrader 4 and 5

  • Also called
  • MT4
  • MT5
  • MetaTrader 5
  • MetaQuotes

What it means

In a prop firm, MetaTrader (MT4 and MT5) is the platform most forex traders already know, with a large ecosystem of expert advisors, indicators and trade copiers. MT5 is the current product; MT4 is the older one that many traders still prefer.

Prop firms typically access MetaTrader through a broker partner or a white-label provider rather than holding their own server license. MetaQuotes has tightened how its platforms can be used for prop trading, and in 2024 a number of firms had to change platform or pause US clients after MetaQuotes license actions affecting their providers.

Because availability depends on MetaQuotes and the provider in between, firms that rely on MetaTrader usually offer a second platform as well.

Related terms

Read these next.

Platforms

Trading platform

A trading platform is the software traders use to place orders and see positions; for a prop firm, it also supplies the account data the risk engine and dashboard rely on.
Platforms

White label

A white label is a technology product another company builds and runs that a prop firm sells under its own brand, such as a platform, challenge engine or a whole firm.
Evaluations

EA policy

An EA policy is a prop firm's rules on expert advisors, bots and other automated trading: which are allowed, which are banned, and how the firm checks.
Platforms

cTrader

cTrader is Spotware's multi-asset trading platform for forex and CFDs, offered to brokers and prop firms with web, desktop and mobile apps and an open API.
Platforms

Match-Trader

Match-Trader is Match-Trade Technologies' trading platform for forex and CFD brokers, with a prop firm product that bundles the platform with evaluation management.

On your website

Where this shows up on a prop firm site.

Feature

Challenge pricing table

The table traders compare first: program, size, price, target, daily and maximum loss and split, readable in ten seconds on a phone.
Tool

Prop Firm Launch Cost Calculator

Estimate what it costs to launch a prop firm: platform, CRM, KYC, payments, legal, website and marketing.

Looking for a prop firm to trade with, not a website? Compare firms on PropFirmPal, the comparison site our founder owns.Go to PropFirmPal →

All glossary termsGuides

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