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Home » Best Forex Trading Brokers (22 Brokers Ranked) » MetaTrader 5 Forex Brokers

MetaTrader 5 Forex Brokers

Written by Miro Nikolov
Miro Nikolov
Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.
, | Updated: December 20, 2024

Many traders base their choice of forex brokers on the range of supported trading platforms they can resort to. While some brands have launched proprietary platforms, others prefer utilizing popular trading software solutions like MetaTrader 4 and MetaTrader 5 (commonly referred to as MT4 and MT5). The former is one of the most widely used trading platforms by forex traders, offering user-friendly design, charting tools, and plenty of options for automated trading. MT5 represents the next generation of trading software introduced by the company that created MT4, allowing forex traders access to improved analytical tools, advanced charts, and automated trading solutions.

If you are looking for forex brokers utilizing MT5 trading, you can take a look at the list of the best МТ5 forex brokers reviewed by our expert team at TradingPedia. If you are looking for a well-equipped trading platform that will allow you to trade on the financial markets, then why don’t you take a look at Meta Trader 5? It has all the tools a trader needs.

  1. Fusion Markets
    Rating: 4.9
    74-89% of retail CFD accounts lose money
  2. Axi
    Rating: 4.8
    The vast majority of retail client accounts lose money
  3. FP Markets
    Rating: 4.7
    73.85% of retail investor accounts lose money
  4. Pepperstone
    Rating: 4.6
    75.5% of retail investor accounts lose money
  5. Global Prime
    Rating: 4.5
    74-89% of retail CFD accounts lose money
  6. XM Group
    Rating: 2.9
    72.82% of retail investor accounts lose money

In this review, you can find a comparison table of forex brokers that support MetaTrader 5. We rank them based on several factors including: regulation, spreads and commissions, Trustpilot rating, trading instruments, trading platforms, deposit and withdrawal methods.

Main features of the best MT5 Forex brokers

  1. TRADE NOW READ REVIEW
    Fusion Markets
    Min Deposit
    $0
    Trading Instruments
    Forex, Commodities, Indices, Crypto, US Stocks
    Regulators
    ASIC, FSA (Seychelles), VFSC (Vanuatu)
    Trading Platforms
    MetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingView
    Spread
    0.9 pips Classic; 0.0 pips Zero
    Leverage
    1:30 (1:500 for forex and metals via VFSC)
    Deposit Methods
    Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinity
    Withdrawal Methods
    Visa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay
    74-89% of retail CFD accounts lose money

    Offers trading forex, stocks, futures and more instruments with MT5. Supports 21 time frames. Traders can use 80+ Technical Analysis objects. Auto trading through EAs available.

  2. TRADE NOW READ REVIEW
    FP Markets
    Min Deposit
    $50 (AU$100)
    Trading Instruments
    Forex CFDs, Shares CFDs, Metals CFDs, Commodities CFDs, Indices CFDs, Crypto CFDs, ETF CFDs
    Regulators
    ASIC, CySEC, FSA (Seychelles), FSCA, FSA (St. Vincent and the Grenadines)
    Trading Platforms
    MetaTrader4, MetaTrader5, WebTrader, IRESS, cTrader, TradingView
    Spread
    1.0 pips Standard; 0.0 pips Raw
    Leverage
    1:30
    Deposit Methods
    Visa, Mastercard, Neteller, Bank Transfer, Skill, Sticpay, Fasapay, Virtual Pay, Perfect Money, Pagsmile, Dragonpay, Crypto, Apple Pay, Google Pay, Online Banking, Broker to Broker, PayPal, XPay, Rapyd
    Withdrawal Methods
    Visa, Mastercard, Bank Wire, Neteller, Skrill, Paytrust88, PayPal
    73.85% of retail investor accounts lose money

    MT5 trading available on desktop, mobile, and in a browser version through WebTrader. Offers 21 time frames and 8 order types. Allows the use of EAs, forex signals, and copy trading.

  3. TRADE NOW READ REVIEW
    Pepperstone
    Min Deposit
    $0
    Trading Instruments
    Forex, Indices, Commodities, Cryptocurrencies, Share CFDs, ETFs
    Regulators
    UK FCA (No.684312), CySEC (No. 388/20), ASIC (No. 414530), BaFin (No.151148), DFSA, CMA, SCB (Bahamas)
    Trading Platforms
    TradingView, MT5, MT4, cTrader
    Spread
    From 0.0 pips (Razor Accounts), 1 pip (Standard Accounts)
    Leverage
    1:30
    Deposit Methods
    Visa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill
    Withdrawal Methods
    Visa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill
    75.5% of retail investor accounts lose money

    Offers fast order executions through MT5. Available for trading on Android and iOS mobile devices. MQL5 programming language allows easy coding. Offers 38 indicators to help tracking market movements.

  4. TRADE NOW READ REVIEW
    IC Markets
    Min Deposit
    $200
    Trading Instruments
    CFDs on Forex, Commodities, Index, Bond, Cryptocurrencies, Stock, Futures
    Regulators
    FSA (Seychelles), CySEC, ASIC
    Trading Platforms
    MetaTrader4, MetaTrader5, cTrader, ZuluTrade
    Spread
    0.8 pips Standard, 0.0 pips Raw Accounts
    Leverage
    1:30
    Deposit Methods
    Bank transfer, Visa, Mastercard, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna, Nuvei
    Withdrawal Methods
    Bank transfer, Visa, Mastercard, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, FasaPay, Poli, RapidPay, Klarna
    70.64% of retail investor accounts lose money

    Low-latency trading through the MT5 platform. Raw accounts with 0.0 pips starting spreads have access to MT5 trades. Level 2 pricing model on the MT5 platform.

  5. TRADE NOW READ REVIEW
    AvaTrade
    Min Deposit
    $100
    Trading Instruments
    Forex, Major stock indices, Cryptocurrencies, Commodities, Bonds, Individual Shares, ETFs
    Regulators
    FFAJ (License No.1574),CySEC (No. 347/17) ISA (No. 514666577), IIROC, ADGM / FSRA (No.190018), CBI (No.C53877), BVIFSC (No. SIBA/L/13/1049), FSCA(No.45984), ASIC (No.406684), JFSA (No. 1662)
    Trading Platforms
    MetaTrader4, MetaTrader5, WebTrader, AvaTadeGO, AvaSocial, AvaOptions, DupliTrade
    Spread
    From 0.9 pips (retail), 0.6 pips (pro)
    Leverage
    1:30
    Deposit Methods
    Visa, Mastercard, Skrill, WebMoney, Neteller, bank wire
    Withdrawal Methods
    Visa, Mastercard, Skrill, WebMoney, Neteller, bank wire
    76% of retail investor accounts lose money

    Multi-asset trading through MT5. Algorithmic trading with EAs. MT5 available on Windows, Mac, iOS, and Android devices.

  6. TRADE NOW READ REVIEW
    XM Group
    Min Deposit
    $5
    Trading Instruments
    Forex, Stocks, Indices, Commodities, Thematic Indices
    Regulators
    (ASIC) (ref. No. 443670), FSC (license no. 000261/397), DFSA (ref. no. F003484), CySEC (license no. 120/10), CFTC; Registrations for EU passporting: - BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA (Finland), KNF, AFM, FSA (Sweden)
    Trading Platforms
    MetaTrader 4 and 5, MetaTrader 4 and 5 on mobile, MT4 WebTrader, MT5 WebTrader, MT4 Multiterminal
    Spread
    From 0.0 pips (Zero Account), 0.6 pips (Standard and Micro Accounts)
    Leverage
    1:30
    Deposit Methods
    Visa, Mastercard. Skrill, Bank Transfer, Neteller, Apple Pay, Google Pay, UnionPay, Maestro
    Withdrawal Methods
    Visa, Mastercard, China Union Pay, Skrill, Neteller, Bank Transfer
    72.82% of retail investor accounts lose money

    Traders can install the MT5 platform on various desktop and mobile devices. Web trading through WebTrader is also supported. Supports over 1,000 tradable instruments, with advanced tools allowing expert trading.

  7. TRADE NOW READ REVIEW
    Eightcap
    Min Deposit
    $100
    Trading Instruments
    Forex CFDs, Commodity CFDs, Shares CFD's, Index CFDs, Crypto CFD's
    Regulators
    SCB (No. SIA-F220), ASIC (No.391441), CySEC (No. 246/14), FCA (No. 921296)
    Trading Platforms
    MT4, MT5, WebTrader, TradingView, Capitalise.ai, FlashTrader
    Spread
    0.1 pips on Standard and TradingView Accounts; 0.0 pips Raw Accounts
    Leverage
    1:30
    Deposit Methods
    Visa, PayPal, Mastercard, Wire Transfer, Neteller, Skrill, Tether, Bitcoin, BPAY, Dragonpay, Fasapay, Interac, Pix, UnionPay
    Withdrawal Methods
    Mastercard, Visa, PayPal, Skrill, Neteller, Bitcoin, Tether, Wire Transfers, BPAY, Fasapay, Pix, Interac, UnionPay
    76.09% of retail investor accounts lose money

    Provides access to global markets through the MT5 trading platform. Advanced trading is possible through EAs, separate accounting of orders, and state-of-art charting tools.

  8. TRADE NOW READ REVIEW
    Tickmill
    Min Deposit
    $100
    Trading Instruments
    Forex, CFD's on Stock, CFD's on Indices
    Regulators
    CySEC (No. 278/15), FCA (733772), CONSOB (No.4310), BaFin (No.146511), ACPR (No.75473), CNVM (No.4082), FSA Seychelles (SD 008), FSCA (FSP 49464), DFSA (F007663)
    Trading Platforms
    MT4, MT5, WebTrader, ZuluTrade
    Spread
    From 0.0 pips (Raw Account), 1.6 pips (Classic Account)
    Leverage
    1:30
    Deposit Methods
    Bank Transfer, Skrill, Mastercard, Visa, PayPal, Przelewy24, Neteller, Trustly
    Withdrawal Methods
    Mastercard, Visa, Skrill, Neteller, Przelewy24, PayPal, Bank Transfer
    70% of retail investor accounts lose money

    One can access various trading markets through MT5. Traders may use 21 different time frames, 38 built-in indicators, Economic Calendar, and EAs for algorithmic trading.

  9. TRADE NOW READ REVIEW
    easyMarkets
    Min Deposit
    $100
    Trading Instruments
    Regulators
    CySEC (license no. 079/07), ASIC (license no. 246566), FSA (license no. SD056), and FSC (license no. SIBA/L/20/1135).
    Trading Platforms
    easyMarkets, MetaTrader 4, MetaTrader 5, TradingView
    Spread
    Leverage
    1:30
    Deposit Methods
    Visa, Mastercard, JCB, Amex, Skrill, Neteller, Fasapay, Sofort, iDEAL, Web Money, BPay, Bank Transfer
    Withdrawal Methods
    Visa, Mastercard, JCB, Amex, Skrill, Neteller, Fasapay, Sofort, iDEAL, Web Money, BPay, Bank Transfer
    71% of retail investor accounts lose money

    Offers 38 inbuilt trading indicators through MT5 platform. Spreads starting as low as 0.7 pips. MT5 can run on desktop and mobile devices as well as on any popular browser.

  10. TRADE NOW READ REVIEW
    Vantage FX
    Min Deposit
    $50
    Trading Instruments
    Forex, Indices, Commodities, Shares CFD, ETFs, Bonds
    Regulators
    FCA (license no. FRN: 590299), VFSC (reg. No. 700271), ASIC (license no. no. 428901), FSCA (license no. 51268), CIMA (no. 1383491)
    Trading Platforms
    MetaTrader 4, MetaTrader 5, ProTrader, TradingView, Copy Trading
    Spread
    1.1 pips on Standard Account; 0.0 pips on Raw, Cent, and Pro Accounts
    Leverage
    1:30
    Deposit Methods
    Visa, Mastercard, Union Pay, Boleto, Bank Wire, Skrill, Neteller, Crypto, POLi, FasaPay, Perfect Money, BPay, Pagsmile, AstroPay, JCB
    Withdrawal Methods
    Visa, Mastercard, Union Pay, Bank Wire, Skrill, Neteller, Crypto, AstroPay, Perfect Money, JCB

    Traders can access multiple markets through the MT5 desktop platform or switch to the MT5 app or the WebTrader version for in-browser trading. Offers multiple time frames and instruments that allow auto trading, market tracking, and advanced analysis.

Forex Brokers with MetaTrader 5 Compared By Leverage and Commission per Lot

BrokerMin DepositMax LeverageCommission per LotTrustpilot Rating
1. Fusion Markets$01:30 for ASIC Entity (1:500 for VFSC Entity)$0 Classic Account, $4.50 round turn on Zero Account4.9
2. FP Markets$50 (AU$100)1:30 (Retail)
1:500 (Professional)		$0 Standard Account; $6 round turn on Pro Account4.7
3. Pepperstone$01:30 (Retail ASIC, CySEC, FCA); 1:500 (Professional); 1:400 (CMA)$0 (Standard Account), $7 round-turn (Razor Account)4.6
4. Global Prime$01:30 (Retail)
1:500 (Professional)		$0 Standard Accounts; $7 round turn on Raw Accounts4.5
5. eToro$50 or $100 based on country ($10 for the UK)1:30 (FCA, ASIC, CySEC); 1:50 (FINRA); 1:500 (FSA)$04.2
6. XM Group$51:30 for CySEC and ASIC Entities (1:1000 for Other Jurisdictions)$0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account2.9

MetaTrader 5 Forex Brokers by Spread

BrokerEUR/USDUSD/JPYGBP/USDUSD/CHFAUD/USDEUR/GBPUSD/CAD
1. Fusion Markets0.070.131.010.370.900.230.14
2. Global Prime0.130.281.110.340.070.280.26
3. XM Group0.80.90.92.10.751.52.4
4. eToro1.01.02.01.511.51.5
5. Pepperstone1.00 (min)1.01.00 (min)1.11.21.21.42
6. FP Markets1.10.301.21.81.20.201.5

Overview of MetaTrader 5

MetaTrader 5 (MT5) is a trading platform that allows users to trade various financial instruments, including Stocks, CFDs, Forex, and Futures. The platform provides a range of features that enable traders to automate their trades, analyze markets, and make informed investment decisions.

The platform was created by MetaQuotes Software, which is also responsible for the launch of the widely popular MT4. The main purpose for the introduction of MT5 was to surpass its predecessor, offering advanced charts, better analytical tools, and improved automated trading. While MT4 is a great solution for forex trading, the demand for a richer selection of tradable assets has led to the launch of MT5.

While offering advanced trading, MT5 still boasts a user-friendly design that enables easy management of orders. Sophisticated charts and analytical tools allow better market assessment, and improved strategy testers can help traders determine parameters for their Expert Advisors (EAs).

Seamless Trading with MetaTrader 5’s User Friendly Interface

MT4 and MT5 share a somewhat similar interface, so if you are upgrading to the newer platform, you will have no issue with the switch to MT5. If you have already created your MT5 account, you can use your credentials to sign in and launch the main window of the software. The menu bar at the top will present access to operations with charts, MT5 settings, analytical tools, and other features of the platform.

A built-in learning system provides more than 100 interactive tips that can help you learn and master different features of the platform. Just like with MT4, the MT5 platform will display available markets in the left part of the window, while market charts can be loaded right next to the Market Watch section.

Indicators and trading robots can be seen in the Navigator section, displayed below the Market Watch. Any applications that traders have purchased and downloaded from the Code Base will also be available in the Navigator section of the MT5 platform. The Chart Switch Bar underneath will allow you to toggle between the various charts you have loaded. Meanwhile, the Toolbox window will allow traders to manage trade positions or view news and account history.

Order Types Available to MT5 Traders

Conveniently enough, MT5 users will have access to a variety of order types. In fact, all MT4 order options will be available here, with MT5 also adding two order types that are not available in the older version of the MetaTrader platform. Depending on their preferences, traders can choose to place instant-execution orders or opt for pending orders. Like the names suggest, the former allows instant execution of your order at the current market price, while the latter can allow the execution of the order at a specific price in the future.

The types of pending orders available in MT5 include:

  1. Buy Limit – this order prompts a BUY execution if the future ASK price matched the parameters set by the trader when placing the pending order. In this case, the current market price is supposed to be higher than the value set by the trader.
  2. Buy Stop – this order triggers a buy operation when the future ASK price matched the value entered by the trader during the pending order setup. This order is suitable in the case when traders assume the asset’s price will decline.
  3. Sell Limit – this option triggers a sell order when the future BID price matched the value set by the trader. This order type is typically placed by traders who believe the price of the asset, which has recently increased, will soon drop.
  4. Sell Stop – this order prompts a sell execution when the future BID price matches the value set by the trader. It is usually placed when traders believe that the asset’s price, which has dropped to a certain level, will keep declining.
  5. Buy Stop-Limit – this is one of the order types that are not available in MT4. It combines two order variations, putting a stop on placing a Buy Limit order. When the future ASK price reaches the stop-level a Buy Limit order will be executed. The stop level is set above the current ASK price and the Stop Limit value is below the stop level.
  6. Sell Stop-Limit – this is the second new order type available in MT5, which is a stop order for placing a Sell Limit. When the future BID price reaches the stop level, a Sell Limit order will be executed. The stop level is set below the current BID price and the Stop Limit value is above the stop level.

MT5 Features Enabling Smooth Trading

With more brokers including MT5 in their lists of supported trading platforms, more forex traders have the chance to handle their orders in a single click, monitor markets, or simply adjust their strategy for successful automated trading. Below you can find the main features of the MT5 platform.

Algorithmic Trading

MT5 allows users to create and use algorithmic trading applications, including trading robots and Expert Advisors (EAs). These can be built from scratch or imported from the platform’s library. EAs allow traders to automate their trades, executing positions on their behalf even when they are not logged into their MT5 accounts. This feature enables traders to process extensive information and multiple orders quickly with minimal intervention.

Strategy Testing

Before activating a robot for automated trading, traders have the opportunity to use the platform’s built-in strategy tester. While this tool examines the success rate of EAs, it also allows the detection of the best parameters for one’s strategy, enabling improved automated trading.

Multiple Open Positions

MT5 enables traders to manage multiple open positions simultaneously, making it easier to monitor and adjust their trades. What is more, with two additional pending order types, MT5 offers its users multiple order options to choose from for their trades.

Technical and Fundamental Analysis

The platform provides a range of analytical tools, including 38 technical indicators, 39 graphical indicators, and 80 built-in analytical indicators. These tools help traders understand market movements and make predictions about future price directions.

Market Depth

MT5’s Market Depth feature provides real-time information about the best bids and offers for a particular asset, enabling traders to assess market liquidity and make more informed decisions.

Predicts Market Direction

With advanced analytical tools available in MT5, traders are able to track price fluctuations with ease. That way, platform users may predict market directions and make informed investment decisions.