Challenge-based prop firm Wall Street Funded (WSFunded) is joining the ranks of licensed retail contract-for-difference (CFD) brokers after obtaining authorization in the offshore jurisdiction of St. Lucia.

This move places them among other prop companies that have taken similar steps to directly purchase MetaTrader licenses from MetaQuotes, though most others have opted for the increasingly popular and even more exotic location, the Island of Comoros.

Wall Street Funded Prop Firm Offers MetaTrader 5 Again

Earlier this week, Wall Street Funded announced on their social media platforms that they are once again offering clients access to MetaTrader 5 (MT5). The prop firm had to withdraw this offering after February 2024, when MetaQuotes began a regulatory crackdown in the industry and stopped accepting white-labeling broker partners of prop trading firms.

How can WSFunded offer the popular MT5 platform again? The answer is simple - the firm itself has become a broker, which they also announced on X (formerly Twitter) and Discord:

"We've taken a huge step forward at Wall Street Funded. Now, we operate with our own broker," they wrote in an official update. According to the firm, this means faster order execution, lower spreads, and better trading conditions for clients.

Information on the Wall Street Funded's website indicates they operate as WSFunded Ltd, a company incorporated under the laws of St. Lucia, with registration number 2025-00117. The license was issued this year, and this offshore location has been becoming increasingly popular recently.

Some time ago, for example, broker NordFX moved their operations here from Vanuatu, another rather exotic regulatory jurisdiction.

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Heading to Comoros Islands for MetaTrader 5

Although licenses issued by St. Lucia are certainly not as "strong" as those from Cyprus's CySEC or Australia's ASIC, they are entirely sufficient for MetaQuotes to offer their products to prop firms again.

Moreover, St. Lucia has a more established position than Comoros, a small island nation in East Africa that has recently become extremely popular among prop firms.

FundingPips, for instance, registered their business there and recently reintroduced MetaTrader 5 to their offering. Hola Prime also operates from the same jurisdiction, having been established late last year and quickly building a base of over 1,300 positive reviews on Trustpilot, which were ultimately flagged as fake.

MetaQuotes Open to Direct Licensing Relationships with Prop Trading Firms

Industry sources speaking on condition of anonymity indicate that MetaQuotes is willing to work with prop trading firms provided they establish direct licensing agreements rather than accessing the platforms through white-label arrangements with forex or CFD brokers. Additionally, these firms must avoid offering services to customers in the United States.

“Since they have their own license it is fine, MetaQuotes don't mind," commented the owner of one prop firm to Finance Magnates.

This stance appears strategically sound for MetaQuotes, as proprietary trading firms have experienced significant growth throughout 2024. The previous restrictions imposed by MetaQuotes created opportunities for competing platforms, particularly cTrader and Match-Trader, to capture market share.

The financial incentive for MetaQuotes is clear, especially following the company's decision to increase fees for both MetaTrader 4 and MetaTrader 5 by 25% at the beginning of this year—a development exclusively reported by Finance Magnates in February. With prop trading firms generally well-capitalized, they represent valuable potential clients for the platform provider.

Source: Finance Magnates