BUSINESS GUIDE
MT5 Grey Label Business Model & Setup Requirements
How the revenue actually works, how partnerships and affiliates fit in, and exactly what you need in place before you launch.
How the revenue actually works, how partnerships and affiliates fit in, and exactly what you need in place before you launch.
A grey label broker earns the same way any forex brokerage does — the difference is how much infrastructure you had to build to get there.
You receive a raw liquidity feed and set your own client-facing spread or commission on top — that markup is your primary revenue, and you control the pricing.
Running A-Book (STP), your revenue is purely the markup with no market risk. Running B-Book, you additionally take on the trading result of client positions — higher potential margin, higher risk, and typically requires more capital and risk management maturity.
As volume grows, brokers typically upgrade to a full MT5 white label to remove the shared-infrastructure fee and capture more margin — the CRM and client base carry forward, so this transition doesn't mean starting over.
A grey label brokerage isn't limited to direct client acquisition — the CRM's IB module supports the same partnership structures a full brokerage would run.
Pay affiliates a CPA or revenue-share rate for referred clients, tracked automatically through the CRM's multi-level IB module.
Master IBs can recruit their own sub-IBs beneath them, with rebate splits calculated automatically across each tier — useful for scaling acquisition without a large in-house sales team.
Rather than a flat CPA, some partners prefer an ongoing revenue-share cut of the spread their referred clients generate — both models are supported in the same CRM.
What you actually need in place — most of this is coordinated as part of a turnkey package rather than sourced separately.
No independent MT5 server license is required for any of the above — see our Legal Status, Risks & Contracts guide for the full regulatory picture, or the Technology Stack guide for how the CRM, liquidity, and server pieces work.
Branded MT5 access, CRM, liquidity, and payment gateway bundled into one coordinated setup. Typically live in 2–4 weeks. This is what most first-time grey label brokers choose.
Sourcing CRM, liquidity, and platform branding from separate vendors gives more control over each component, but takes longer to launch and requires you to manage multiple vendor relationships.
See XacUsd's full Forex Turnkey Solution for the complete bundled package.
Primarily through spread markup and commission on client trades, the same as any forex brokerage. Because you control your own pricing on top of the raw liquidity feed, your margin is set by you, not fixed by the provider.
Yes. The CRM's multi-tier IB module lets you recruit affiliates and sub-introducing-brokers who refer clients to your brokerage, with rebate tracking handled automatically.
Typically: a corporate entity to hold client funds (BVI, Mauritius, or Comoros are common for first launches), branding assets, a payment gateway decision, and a signed grey label agreement with your provider. No independent MT5 server license is required.
A turnkey grey label bundles the branded MT5 access, CRM, liquidity connectivity, and payment gateway into one coordinated setup rather than sourcing each piece separately — typically live in 2 to 4 weeks.
Yes, it's specifically designed for that. It gives a startup broker a fully branded platform and CRM without the capital outlay of an independent MT5 license, with a natural upgrade path to a full white label later.
Is it legal? Regulation, vs Introducing Broker, risks, and what's in the contract.
Read the GuideCRM, liquidity, server, terminals, and mobile app — how the infrastructure works.
Read the GuideSetup fees, recurring costs, and how it compares to a full white label.
Read the GuidePairing your grey label with BVI, Mauritius, or Comoros — compared side by side.
Read the GuideTurnkey setup, live in 2–4 weeks. Your brand, your revenue model, XacUsd's infrastructure.
Start Grey Label Setup