This forex broker glossary defines the terms that come up when you launch or run a forex or CFD brokerage on MetaTrader 5: launch models such as grey label and white label, execution terms such as A-book and B-book, liquidity, back-office systems like the CRM, compliance terms such as KYC/AML, and distribution models such as introducing brokers and PAMM accounts.
How should you use this forex broker glossary?
Use it as a reference when an offer, a contract or a conversation with a provider uses a term you are not sure about. Each entry starts with a short definition, then explains how the thing works inside a brokerage, where regulation comes in and which questions to ask. The longer guides linked below go further into costs, setup and comparisons.
A word of caution: many of these terms are industry shorthand, not legal or MetaQuotes categories. “Grey label” in one provider’s proposal may describe something quite different from another’s. When a term decides who holds the licence, who takes the other side of trades or who owns the client, ask for the meaning in writing rather than relying on any glossary, including this one.
What do grey label, white label and main label mean?
These are the three terms for how a brand sits on MetaTrader 5 infrastructure, from least to most control. Availability of new MT5 white labels depends on MetaQuotes’ current approach; trade press reported in 2022 that MetaQuotes had tightened its conditions, so we check each case before promising anything.
Grey label brokerage
A brokerage set up inside another company’s licensed MT5 server, with your own client groups and brand on the front ends while the server licence stays with the provider. Read the entry.
MT5 white label
A branded setup with a more dedicated environment, symbols and conditions, run under a licence holder’s agreement with MetaQuotes. Read the entry.
Main label
The company that holds the MetaTrader 5 server licence itself and can host other brands on it. Read the entry.
White label trading platform
Any trading platform licensed from a vendor and rebranded, not only MetaTrader. Read the entry.
What are the key execution and liquidity terms?
These terms describe what happens to a client’s order after it leaves the platform and who carries the risk.
- A-book and B-book execution — whether the broker passes a trade to a liquidity provider (A-book) or takes the other side itself (B-book); most brokers run a hybrid. Full entry.
- Liquidity provider (LP) — the bank, market maker or prime-of-prime firm that streams prices and fills the broker’s offsetting trades. Full entry.
- CFD trading — trading contracts for difference on currencies, indices, commodities or shares; the legal form of most retail forex. Full entry.
- Liquidity bridge — software that carries prices and orders between MT5 and one or more LPs. Guide.
- Price feed — the stream of quotes that symbols are priced from. Guide.
Which back-office and API terms come up most?
These are the systems behind the platform that your staff and integrations use every day.
- Forex CRM — the broker back office for registration, KYC, payments, IB commissions and MT5 account sync, plus the client portal. Full entry.
- MetaTrader Web API — the MetaQuotes interface used to connect web services and front ends to an MT5 server. Full entry.
- Manager API — the MetaQuotes interface for building administration tools and back-office integrations. Guide.
- Gateway API — the interface for building connections between MT5 and external liquidity or exchanges. Guide.
What do the compliance and distribution terms mean?
These cover who may bring clients in, how they are checked and how money can be managed on their behalf.
| Term | Short definition | Where to read more |
|---|---|---|
| KYC/AML compliance | Identifying and verifying clients, screening, monitoring and record keeping to prevent money laundering | KYC/AML entry |
| Introducing broker (IB) | A partner that refers clients to a broker for a rebate or spread share, without holding client money | IB entry |
| PAMM account | Pooled managed account where results are shared by each investor’s percentage | PAMM entry |
| Copy trading | Followers’ accounts automatically mirror another trader’s positions | Copy trading regulation |
Where do these terms fit in a real brokerage?
Say you are an IB with a few hundred active clients and you want your own brand. In one week you might hear all of these words: a provider offers a grey label on its main label server, a liquidity provider sends a term sheet with A-book pricing, a CRM vendor asks about your IB tree, and your compliance adviser asks how KYC will be evidenced. The glossary helps you follow those conversations; the start a forex brokerage guide puts the steps in order, and the technology stack guide shows how the systems connect.
FXUP is a consulting and technology firm for brokers and is not affiliated with MetaQuotes. If a term in an offer you have received is unclear, send us the wording on WhatsApp and we will tell you what it usually means in practice.
Questions buyers ask
What is the difference between a grey label and a white label?
What does A-book mean in forex?
Is forex trading the same as CFD trading?
What is a forex CRM?
What is an introducing broker?
Are these terms legal definitions?
Can you explain a term that is not in the glossary?
Not covered here? Ask us on WhatsApp, message @FXUPCK on Telegram or write to [email protected].
Sources
- MetaQuotes — MetaTrader 5 for brokers (accessed October 2026)
- ESMA — Interactive Single Rulebook, MiFID II Article 4 (definitions) (accessed October 2026)
- National Futures Association — Introducing Broker (IB) registration (accessed October 2026)
FXUP is an independent consulting and technology firm and is not affiliated with MetaQuotes Ltd. MetaTrader 4 and MetaTrader 5 are trademarks of MetaQuotes Ltd. This page is general information, not legal, tax or investment advice; regulatory requirements depend on the jurisdiction and change over time. FXUP does not publish prices; contact us for current figures for your setup.