How MetaQuotes’ evolving platform rules have shaped the prop trading industry — and what comes next

MetaQuotes, the software company behind MetaTrader 4 and 5, has long been a foundational force in retail trading. For years, prop trading firms relied heavily on the MetaTrader ecosystem to serve thousands of retail traders around the world. However, changes in MetaQuotes’ internal policies over the past year have significantly disrupted the prop firm space, forcing companies to reconsider their platforms, structures, and long-term strategies.

MetaQuotes’ Restrictions and Their Industry-Wide Consequences

In early 2024, MetaQuotes began limiting access to its platforms for prop firms, particularly those serving U.S.-based clients. There was no official announcement, no guidelines, and no clear direction—only sudden disconnections and silent rejections of platform renewals or new licenses. As firms scrambled to understand the reasoning, it became clear that MetaQuotes was drawing a line: unregulated and white-label prop firms would no longer be welcome on MetaTrader.

The impact was immediate. An estimated 80 to 100 prop firms either shut down or suspended services during the first half of 2024. Others rushed to migrate to alternative trading platforms such as cTrader, TradeLocker, Match-Trader, Sirix, and DXtrade. While this shift created short-term challenges, it also sparked innovation, competition, and increased awareness of compliance across the industry.

The Industry’s Response: Innovation and a Push for Regulation

Traders themselves began demanding more transparency. A 2025 survey by PipFarm found that 70% of retail traders support some form of regulation for prop firms. The era of quick setups and unlicensed operations seems to be coming to an end, replaced by a maturing ecosystem where trust, structure, and compliance are essential.

Interestingly, MetaQuotes has not issued any formal statement or clarification about its stance. Yet, its message is clear through its actions. Firms that want to continue using MetaTrader must either stop servicing restricted jurisdictions or take their structure to the next level—often by becoming licensed brokers themselves.

MetaTrader Is Making a Return — But Only for the Compliant

Some firms have done exactly that. Funding Pips recently reintroduced MT5 after a 13-month hiatus, this time with a direct license from MetaQuotes, bypassing intermediaries and white-label providers. Wall Street Funded took a similar route by establishing its own licensed brokerage in St. Lucia, enabling it to legally reconnect with the MetaTrader platform.

These developments reveal a new chapter for prop trading. The space is evolving from a loosely regulated environment into a more structured, long-term business model. Firms that adapt are not only surviving but also gaining a competitive edge by being among the few with access to MetaTrader under full compliance.

Timeline of MetaQuotes & Prop Firms Developments (2023–2025)

October – December 2023

• Early rumors surface that MetaQuotes is reviewing how prop firms are using MT4 and MT5.
  
  
• Some firms report sudden loss of platform access without any warning.
  
  
• MetaQuotes makes no public statement or clarification during this period.
  
  

January – February 2024

• MetaQuotes begins a widespread disconnection of prop firms, especially those serving U.S. clients.
  
  
• Firms like TopTier Trader and others abruptly lose access to MetaTrader platforms.
  
  
• White-label solutions are quietly phased out, and new license requests are silently rejected.
  
  

March – June 2024

• An estimated 80 to 100 prop firms shut down or suspend operations.
  
  
• The industry begins a large-scale migration to alternative trading platforms such as:
  
  
  
  • cTrader
    
    
  • TradeLocker
    
    
  • Match-Trader
    
    
  • DXtrade
    
    
  • Sirix
    
    
• MetaQuotes remains publicly silent, offering no guidance.
  
  

July – September 2024

• The conversation around prop firm regulation intensifies.
  
  
• A PipFarm survey shows 70% of traders support regulation in the space.
  
  
• TopTier Trader publishes a blog post titled "MetaTrader is Gone for Prop Firms", which helps raise awareness across the community.
  
  

October – December 2024

• Most major prop firms have fully transitioned to new platforms.
  
  
• Newer firms launch directly with alternatives, skipping MetaTrader entirely.
  
  
• Compliance becomes a hot topic across expos, trading forums, and social media.
  
  

January – March 2025

• Funding Pips returns to MetaTrader 5 with a direct main-label license from MetaQuotes.
  
  
• Wall Street Funded establishes its own regulated brokerage in St. Lucia, regaining access to MT5.
  
  
• TradersWithEdge also announces the return of MetaTrader to its offerings.
  
  
• Instant Funding confirms it’s operating under a direct MetaQuotes license.
  
  
• MyFundedFX states intentions to resume MT5 access through a potential partnership with Seacrest Markets.
  
  

Today – April 2025

• MetaQuotes still has not issued any official policy document, but its internal rules are now well understood.
  
  
• Only firms with:
  
  
  
  • A direct main-label license or
    
    
  • Their own regulated brokerage
    are able to use MT4 or MT5.
    
    
• The prop trading industry is now more mature, compliance-driven, and platform-diverse than ever before.
  
  

Final Thoughts

What began as a quiet move by MetaQuotes has led to one of the most significant structural shifts in the history of proprietary trading. While some firms have faded away, others have emerged stronger—more professional, better regulated, and better prepared for long-term success.

MetaTrader is no longer a given in prop trading. It is now a platform that must be earned through compliance, licensing, and operational maturity. As the industry continues to evolve, the firms that meet those expectations will be the ones leading the way into the future.

‍