Complete brokerage platform vs trading terminal only
MetaQuotes stopped selling new MT4 licenses in 2022. New brokerages can only license MT5. Existing MT4 brokers pay $100K+ upfront + $15K+ monthly for server maintenance, support, and mobile access.
MetaTrader (MT4 and MT5) is a standalone trading terminal and nothing more. Callero is a complete brokerage operating system that includes a trading platform plus CRM, VoIP, client portal, and compliance. The core difference: MetaTrader runs trades, while Callero runs your entire brokerage from one dashboard.
This is the most important thing to understand: MetaTrader 4 and 5 are trading terminals, not complete brokerage solutions. They're like having a trading interface without the business infrastructure.
Think of it this way: MetaTrader is the steering wheel and dashboard of a car. But you still need the engine (CRM), transmission (operations), fuel system (payments), and everything else to actually run a brokerage business.
Complete, unified brokerage infrastructure that includes everything: CRM for lead management, VoIP for client communication, client portal for onboarding/KYC, and trading platform. It's a true business-in-a-box solution.
World's most popular trading terminal software with 16M+ users. Excellent for client-facing trading operations, but requires you to build or buy everything else separately: CRM, back office, payment processing, compliance tools, etc.
MetaTrader covers charting and order execution, while Callero adds lead management, calling, onboarding, KYC/AML, and reporting in the same system. The table below shows where MetaTrader stops and where an all-in-one platform replaces the four to five extra vendors brokers usually bolt on.
| Feature | Callero | MT4 | MT5 |
|---|---|---|---|
| Trading Terminal | |||
| CRM System | |||
| VoIP Platform | |||
| Client Portal | |||
| KYC/AML Automation | |||
| Payment Processing | |||
| Team Management | |||
| Advanced Charting | |||
| Technical Indicators | 50+ | 30 | 38 |
| Timeframes | Multiple | 9 | 21 |
| Algorithmic Trading | MQL4 | MQL5 | |
| Expert Advisors (EAs) | Compatible | 25K+ | Growing |
| Multi-Asset Support | Forex/CFD Only | ||
| Hedging Support | |||
| Netting Support | |||
| Mobile Trading | |||
| Copy Trading | Via Signals | Built-in | |
| Economic Calendar | |||
| Market Depth (DOM) | |||
| White Labeling | $5K each | Custom | |
| Real-time Analytics | Full Dashboard | Trading Only | Trading Only |
| Compliance Reporting | |||
| New License Availability | CLOSED |
MetaTrader's true cost goes far beyond the license: setup fees, per-server charges, and separate CRM, VoIP, and compliance tools add up fast. Callero consolidates all of these into transparent per-seat pricing, which is why most new brokers spend significantly less over a full year, as shown below.
| Cost Item | Callero | MT4 + Stack | MT5 + Stack |
|---|---|---|---|
| Initial Setup | $126,000 | $100,000 | $80,000 |
| Monthly Platform Fees (×36) | $684 | $540,000 | $540,000 |
| CRM + VoIP + Portal | Included | $180,000 | $180,000 |
| 3-Year Total | $126,684 | $820,000 | $800,000 |
Savings: Callero costs 84.55% less than MetaTrader + full stack over 3 years
The reality check for new brokers: MetaQuotes has paused new MT4 and MT5 white-label licenses, making MetaTrader hard to obtain at all. Callero is available immediately, with no license queue, so you can launch a fully equipped brokerage in days instead of waiting months for approval.
99% lower total cost means you can actually launch without investors or massive loans. Use savings for marketing and growth.
Launch in hours vs months means you can start generating revenue immediately and test your market hypothesis quickly.
Everything works together out of the box. No technical team needed to integrate 5-10 different systems.