MT5 White Label vs Grey Label: understand the technology boundary.
Terminology varies across providers, so brokers should compare the actual technical and commercial boundary: branding, administrator access, server responsibility, integrations, data, liquidity and support.
Define the rights
Ask exactly which platform functions, administrative controls, branding options and integrations are included in each offer.
Define the infrastructure
Clarify where the environment runs, who controls hosting, backups and monitoring, and how access-server and connectivity changes are handled.
Define the exit path
Migration options, data portability, integration ownership and operational documentation matter if the brokerage later changes provider or operating model.