Chapter CH-02 alt-wl-platforms / Cyprus
The 2022 MetaQuotes WL freeze + the 2025 MT5 main-label price jump + the post-2024 prop-firm crackdown created sustained demand from CySEC operators for non-MetaTrader white-label trading platforms. Ten vendors, ranked against the Brokerage Atlas 6-dimension rubric.
Regulator coverage
Editor's curation · August 2026
OVERALL CATEGORY LEADER
4.7
Limassol-HQ, used by every tier-1 CySEC broker (FxPro, Pepperstone EU, IC Markets EU, FP Markets EU). 11M-trader ecosystem with self-routing leads. Only vendor with a serious public two-stream affiliate program — up to $7/lot IB + 20% Store revshare.
BEST FOR MULTI-ASSET DEPTH
4.4
Only alt-WL with true multi-asset depth: equities, ETFs, futures, options, bonds + FX/CFD. CySEC customers ColmexPro, CFI, Equiti. Sub-broker distribution model unique in the category — extends to introducing brokers downstream.
BEST FOR CYSEC STARTUP
4.5
Cheapest published entry ($5k setup), TradingView charts bundled free, Limassol office plus sister entity Match-Prime (CySEC 390/20) for bundled liquidity. Most Cyprus-native of the modern WL options.
Alphabetical · seeded August 3, 2026
Limassol, Cyprus
Mid-market and tier-1 FX/CFD brokers, ECN/STP-focused brokers, prop firms wanting institutional-grade execution and a deep algo/copy ecosystem
Munich, Germany (Devexperts); sales offices in Cyprus, UK, Singapore, US
Mid-market to tier-1 multi-asset brokers, prop firms (especially futures/options prop), banks and wealth managers
Limassol, Cyprus (commercial HQ) with Tel Aviv Israel (R&D) and offices in Hong Kong, Ukraine, China, Poland, Bulgaria, Germany
Mid-market to enterprise prop firms (Prop Suite); startup-to-mid CySEC FX/CFD brokers wanting turnkey platform + CRM + liquidity + retention (Sirix); operators wanting AI-driven retention features
Łódź, Poland (engineering HQ) with Wilmington Delaware (US entity), Limassol Cyprus, Dubai, and additional offices in South Korea, Malaysia, India
Startup-to-mid CySEC FX/CFD brokers, prop firms operating outside MetaTrader, and UAE operators wanting a non-MetaTrader, fully integrated platform + CRM + risk + bridge stack
Limassol, Cyprus (Gladstonos 106) — with UAE office, UK, Gibraltar, Bahamas, Australia
Brokers and prop firms wanting integrated trading platform + CRM + back-office; new entrants leveraging Quadcode's licensed exchange/clearing legacy (sold QCEX/QC Clearing to Polymarket 2025 for $112M); operators wanting Quadcode's strategic position via FPFX Tech ownership stake
Riga, Latvia (EU)
FX/crypto hybrid brokers, multi-asset brokers needing PAMM-native tooling, mid-market CFD brokers needing on-prem/source-license deployment
Zagreb, Croatia (with London entity); built by MochaLabs
Prop firms (primary), retail-leaning FX/CFD startup brokers wanting modern UX, brokers offering crypto+FX hybrid
Ireland (Dublin); operates globally
Mid-market to institutional multi-asset brokers, banks, prime brokers wanting to distribute a fully branded WL to downstream firms
Limassol, Cyprus (Market Punter Pty Ltd operates the brand)
Startup-to-mid FX/CFD brokers, digital options brokers, crypto futures brokers, prop trading firms wanting turnkey deployment with 300+ PSPs
Warsaw, Poland (part of XTB Group, publicly listed)
FX/CFD brokers needing combined liquidity + platform package, banks, fintechs entering brokerage, IB-to-broker conversion candidates
chapter guide · vendor selection
How CySEC-regulated brokers should evaluate non-MetaTrader white-label platforms in 2026. Four vendor archetypes, five selection axes, three RFP pressure-test questions.
~3k words · 4 archetypes · 5 axes · 3 RFP questions · read guide →
calculator · chapter moat
Model the full 5-year launch cost across cTrader, Match-Trader, Quadcode, and Soft-FX. Includes CySEC license, MiFID II reporting, capital adequacy, PSP fees. Export CSV.
3 vendors · 4 scenario presets · 5-year horizon · open calculator →
chapter signature · depth comparison
10 alt-WL vendors × 8 asset classes (FX, CFDs, equities, ETFs, futures, options, bonds, crypto). Native, integration-only, or unsupported per cell.
10 vendors · 8 asset classes · coverage matrix · open matrix →