Why did MetaQuotes restrict MetaTrader access for prop firms?
Quick answer
In early 2024 MetaQuotes acted against prop firms using its platforms, reportedly over regulatory concerns about US clients. Brokers that had shared MetaTrader licences with prop firms were made to stop, and several firms halted trading or moved to other platforms. MetaQuotes did not publish a detailed public explanation.
Detailed answer
What the industry reported:
- The action began in February 2024, initially focused on firms with US clients.
- Brokers grey-labelling MetaTrader to prop firms terminated those services.
- Some prop firms paused trading, migrated platforms, or stopped serving US traders.
- MetaTrader's share of prop firms fell as firms moved to alternatives.
Lessons for a new firm:
- Your access to a platform should not depend on a third party's licence.
- Read the licence terms on prop use and permitted countries.
- Keep your data accessible so you can move if you have to.
PropExecutor runs its own terminal and execution, so access does not depend on a MetaTrader licence.
What changed afterwards
Platform diversity among prop firms increased as firms moved to alternatives, and traders became more used to trading on platforms other than MetaTrader. For a new firm, that makes choosing a different platform less of a barrier to attracting traders than it once was.
PropExecutor team · Updated
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