MetaTrader 5 Brokers and Review

MetaTrader 5 (MT5) is the latest trading platform from software developers MetaQuotes. We list the best MT5 brokers, explore the range of indicators and guide you through mobile app downloads. We also compare MetaTrader 5 vs its predecessor MetaTrader 4 (MT4). Find out how to get started trading forex, stocks and futures online with the MT5 platform.

MetaTrader 5 Brokers

Filter Brokers
Found 77 Brokers
Pepperstone offers spread betting andCFD trading to both retail and professional traders. Clients can trade FX, indices, commodities and shares on MT4, MT5 and cTrader platforms.
Demo Account
Yes
Regulated By
FCA, ASIC, SCB, DFSA, CMA, BaFin
MT4 Integration
Yes
Min. Deposit
£200 / $200
Min. Trade
0.01 Lots
Bonus
None
Leading forex and CFD broker regulated in Ireland, Australia, Canada and South Africa. Avatrade are particularly strong in integration, including MT4
Demo Account
Yes
Regulated By
CBoI, ASIC, FSB
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
$1
Bonus
None
Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms. Award winning platform, zero commission, free education and low spreads.
Demo Account
Yes
Regulated By
ASIC, VFSC
MT4 Integration
Yes
Min. Deposit
£/€/$100
Min. Trade
0.01 lots
Bonus
None
Deriv.com are a new brokerage, offering options and CFDs on a simple, reliable, flexible platform. Get access to volatility indexes exclusively at Deriv.
Demo Account
Yes
Regulated By
Malta (MFSA), Labuan (LFSA), Vanuatu (VFSC), British Virgin Islands (BFSC)
MT4 Integration
No
Min. Deposit
€/£/$5
Min. Trade
0.01 Lots
Bonus
None
BDSwiss offer 250+ Shares, Indices, Forex, Commodities and Cryptocurrencies markets via CFDs. With spreads from 1 pip and an award winning app, they offer a great package.
Demo Account
Yes
Regulated By
CySec, FSC, FSA
MT4 Integration
Yes
Min. Deposit
100 $/€/£
Min. Trade
0.01 Lots
Bonus
None
XM.com Offer a range of Account types and a low minimum deposit to appeal to all levels of trader. With 1000+ markets and low spreads they offer a great service.
Demo Account
Yes
Regulated By
FCA, IFSC, CySec, ASIC
MT4 Integration
Yes
Min. Deposit
5 $/€/£
Min. Trade
0.01 Micro lots
Bonus
None
Markets.com offer CFDs across a huge range of assets from shares and indices to commodities and cryptocurrencies.
Demo Account
Yes
Regulated By
FCA, CySEC, ASIC, FSCA, FSC
MT4 Integration
Yes
Min. Deposit
$250
Min. Trade
0.01 lots
Bonus
None
Trade Forex on 0.0 pip spreads with the world's leading True ECN forex broker - IC Markets.
Demo Account
Yes
Regulated By
ASIC, CySec, FSA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 Lots
Bonus
None
LegacyFX is a multi-asset broker offering an MT5 download & free signals.
Demo Account
Yes
Regulated By
CySEC, FCA, VFSC, NBRB
MT4 Integration
No
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
None
Trade forex CFDs from 0.0 spreads with Vantage FX. Clients can access popular forex pairs like GBP/USD, EUR/USD and AUD/USD from 0.0 spreads with a flat $2 per lot commission on our RAW account.
Demo Account
Yes
Regulated By
ASIC, FCA, CIMA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 Lots
Bonus
None
RoboForex is a multi-asset online broker offering powerful trading aides.
Demo Account
Yes
Regulated By
IFSC
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
0.01 lots
Bonus
None
FXChoice is an offshore retail broker offering MT4 and MT5 platform downloads.
Demo Account
Yes
Regulated By
IFSC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Multi-Award winning broker. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
Demo Account
Yes
Regulated By
CySec, FCA, SCB
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 Lots
Bonus
None
LiteForex Europe is an FX and CFD broker offering sophisticated trading tools.
Demo Account
Yes
Regulated By
CySEC
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Bonus
None
GO Markets is an ASIC-regulated FX & CFD broker.
Demo Account
Yes
Regulated By
ASIC
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
None
ThinkMarkets is a multi-regulated forex and CFD broker
Demo Account
Yes
Regulated By
FCA, ASIC, FSCA
MT4 Integration
Yes
Min. Deposit
No minimum
Min. Trade
0.01 lots
Bonus
None
Binary.com are the established pioneers of binary options. The choice of the advanced trader, Binary.com offer the greatest flexibility of any binary broker. They also offer Forex and CFD via the MT5 platform.
Demo Account
Yes
Regulated By
MGA
MT4 Integration
Yes
Min. Deposit
$5
Min. Trade
$1
Bonus
None
XGlobal Markets offers online trading in forex and CFDs through the industry-renowned MT5 platform.
Demo Account
Yes
Regulated By
CySEC
MT4 Integration
No
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
None
Trade a range of products on the MetaTrader platforms at DMM FX.
Demo Account
Yes
Regulated By
MT4 Integration
Yes
Min. Deposit
Undisclosed
Min. Trade
0.01 lots
Bonus
None
SmartFX is a leading online provider of forex, CFDs and futures.
Demo Account
Yes
Regulated By
VFSC
MT4 Integration
No
Min. Deposit
Undisclosed
Min. Trade
0.01 lots
Bonus
None
FBS is a top online broker offering MT4 & MT5 trading across a range of instruments.
Demo Account
Yes
Regulated By
CySEC, IFSC
MT4 Integration
Yes
Min. Deposit
$1
Min. Trade
0.01 lots
Bonus
None
Grand Capital is an MT4 retail trading broker offering multiple bonuses.
Demo Account
Yes
Regulated By
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
0.01 lots
Bonus
None
CMSTrader offers multi-asset trading with fast payment speeds & useful features.
Demo Account
Yes
Regulated By
MT4 Integration
No
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
None
FXFlat offers several asset classes on the MetaTrader 4 & MetaTrader 5 platforms.
Demo Account
Yes
Regulated By
BaFin
MT4 Integration
Yes
Min. Deposit
€200
Min. Trade
0.01 lots
Bonus
None
FP Markets is a multi-asset broker offering a choice of trading platforms.
Demo Account
Yes
Regulated By
ASIC, CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
FortFS is a multi-asset trading broker offering a range of tools & resources.
Demo Account
Yes
Regulated By
MT4 Integration
Yes
Min. Deposit
$5
Min. Trade
0.01 lots
Bonus
None
Land FX is a trusted global FX & CFD trading broker offering the MT4 & MT5 platforms.
Demo Account
Yes
Regulated By
FCA, FSA
MT4 Integration
Yes
Min. Deposit
$300
Min. Trade
0.01 lots
Bonus
None
Squared Financial is a CySEC-regulated forex & CFD broker
Demo Account
Yes
Regulated By
CySEC, FSA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Bithoven is a MT5-powered online broker offering leveraged cryptocurrency trading.
Demo Account
Yes
Regulated By
FSA
MT4 Integration
No
Min. Deposit
None
Min. Trade
0.01 lots
Bonus
None
LBLV is a MT5 broker offering trading in FX & CFDs.
Demo Account
Yes
Regulated By
FSA (Seychelles)
MT4 Integration
No
Min. Deposit
$5,000
Min. Trade
0.01 lots
Bonus
None
Admiral Markets is leading Forex and CFD broker offering the MT4 & MT5 platforms
Demo Account
Yes
Regulated By
FCA, CySEC, ASIC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Trade on the financial markets with low cost, leveraged products at HYCM.
Demo Account
Yes
Regulated By
FCA, DFSA, CIMA, CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
House of Borse offers trading in over 200 financial instruments on MT4 and MT5.
Demo Account
Yes
Regulated By
FCA
MT4 Integration
Yes
Min. Deposit
$5,000
Min. Trade
0.01 lots
Bonus
None
Axes offers multi-asset trading through the MT5 platform and mobile app.
Demo Account
Yes
Regulated By
FSA, IFMRRC
MT4 Integration
No
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Valutrades is a leading MetaTrader forex & CFD broker.
Demo Account
Yes
Regulated By
FCA, FSA
MT4 Integration
Yes
Min. Deposit
None
Min. Trade
0.01 lots
Bonus
None
FXOpen is a highly regulated FX & CFD broker offering multiple trading platforms.
Demo Account
Yes
Regulated By
FCA, ASIC
MT4 Integration
Yes
Min. Deposit
$300
Min. Trade
0.01 lots
Bonus
None
Zero Markets is a multi-asset online trading broker offering ultra low spreads.
Demo Account
Yes
Regulated By
ASIC
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
None
HQBroker is a no-frills forex broker offering easy-access live trading accounts.
Demo Account
No
Regulated By
MT4 Integration
Yes
Min. Deposit
$250
Min. Trade
0.01 lots
Bonus
None
OctaFX offers multi-asset trading on a range of platforms and mobile solutions.
Demo Account
Yes
Regulated By
CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
ProfitiX offers an interactive desktop and mobile trading experience via MT5.
Demo Account
No
Regulated By
MT4 Integration
No
Min. Deposit
$250
Min. Trade
0.01 lots
Bonus
None
Trade forex, CFDs and futures with leading tools and low minimum deposits.
Demo Account
Yes
Regulated By
CySEC
MT4 Integration
No
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips.
Demo Account
Yes
Regulated By
SVG FSA, NFA, CAMA Nigeria
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
None
M4Markets is a forex broker offering deposit bonuses with MT4 & MT5 tools.
Demo Account
Yes
Regulated By
Financial Services Authority (FSA)
MT4 Integration
Yes
Min. Deposit
$5
Min. Trade
0.01 lots
Bonus
None
MultiBank FX is a regulated forex and CFD broker offering sign-up deposit bonuses, tight spreads and MT4 trading.
Demo Account
Yes
Regulated By
ASIC, BaFin, FMA, CNMV, DFSA, FSC, CIMA
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.1 lots
Bonus
None
LH Crypto combines a digital alt coin exchange with a user-friendly online brokerage offering an array of tools, instruments and payment options.
Demo Account
Yes
Regulated By
VFSC
MT4 Integration
No
Min. Deposit
€10
Min. Trade
0.01 lots
Bonus
None
JFD Bank offers comprehensive trading services, complete with MT4 and MT5 platforms and a range of products.
Demo Account
Yes
Regulated By
CySEC, VFSC, BaFin 
MT4 Integration
Yes
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
None
TMS Brokers is a leading European trading broker providing powerful tools and a suite of financial instruments.
Demo Account
Yes
Regulated By
Polish Financial Supervision Authority (KNF)
MT4 Integration
No
Min. Deposit
None
Min. Trade
0.01 lots
Bonus
None
Tradeview is based in the Cayman Islands and offers four leading trading platforms and 100+ financial instruments.
Demo Account
Yes
Regulated By
CIMA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Global FX is an unregulated broker offering a suite of trading tools and products.
Demo Account
Yes
Regulated By
MT4 Integration
No
Min. Deposit
$300
Min. Trade
0.01 lots
Bonus
None
NBH Markets offers 60+ assets with floating spreads and a suite of tools.
Demo Account
Yes
Regulated By
St. Vincent and the Grenadines FSA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
IFC Markets is a top broker offering the bespoke NetTradeX plus MT4 & MT5.
Demo Account
Yes
Regulated By
BVI FSC, Labuan Financial Services Authority
MT4 Integration
Yes
Min. Deposit
1 USD / 1 EUR / 100 JPY
Min. Trade
0.01 lots
Bonus
None
Capex offers a portfolio of trading products and leading investing tools.
Demo Account
Yes
Regulated By
CySEC, FSCA, ADGM
MT4 Integration
No
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Trade forex and CFDs with rich trading tools and real-time market data.
Demo Account
Yes
Regulated By
FSA Seychelles
MT4 Integration
No
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Amana Capital is a leading retail broker offering deposit bonuses and MT4 trading.
Demo Account
Yes
Regulated By
FCA, DFSA, CySEC, CMA, LFSA, FSC
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Bonus
None
ActivTrades offers online trading on the MT4, MT5 and ActivTrader platforms.
Demo Account
Yes
Regulated By
FCA
MT4 Integration
Yes
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
None
AETOS offers trading on the MT4 & MT5 platforms with a deposit joining bonus.
Demo Account
Yes
Regulated By
FCA, ASIC
MT4 Integration
Yes
Min. Deposit
$250
Min. Trade
0.01 lots
Bonus
None
ArgusFX is a Cyprus-based broker offering MT4 trading from a sleek client portal.
Demo Account
No
Regulated By
CySEC
MT4 Integration
Yes
Min. Deposit
No minimum
Min. Trade
0.01 lots
Bonus
None
4xCube is a MetaTrader forex broker registered and licensed in the Cook Islands.
Demo Account
Yes
Regulated By
FSC Cook Islands
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
0.01 lots
Bonus
None
BlackBull Markets offers forex and CFD trading on the MT4 & MT5 platforms.
Demo Account
Yes
Regulated By
FMA, FSA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
None
FXDD offers online trading in six major asset classes on the MT4, MT5 and WebTrader platforms.
Demo Account
Yes
Regulated By
Malta Financial Services Authority (MFSA), Mauritius Financial Services Commission (MFSC)
MT4 Integration
Yes
Min. Deposit
$/£1
Min. Trade
0.01 lots
Bonus
None
FIBO Group is a dual-licensed forex broker offering multiple trading platforms.
Demo Account
Yes
Regulated By
CySEC, FSC BVI
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Bonus
None
With multiple trading products and an advanced suite of analysis tools, Darwinex is an excellent online broker.
Demo Account
Yes
Regulated By
FCA
MT4 Integration
Yes
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
None
KLMFX offers traditional assets and markets on the MetaTrader 5 platform.
Demo Account
Yes
Regulated By
MT4 Integration
No
Min. Deposit
$250
Min. Trade
0.01 lots
Bonus
None
TeleTrade offers ECN accounts with tight spreads & powerful trading platforms.
Demo Account
Yes
Regulated By
CySEC
MT4 Integration
Yes
Min. Deposit
100 EUR/USD
Min. Trade
0.01 lots
Bonus
None
Swissquote is an FCA-regulated FX & CFD broker offering 160+ trading products.
Demo Account
Yes
Regulated By
FCA, FINMA
MT4 Integration
Yes
Min. Deposit
$1,000
Min. Trade
0.01 lots
Bonus
None
SynergyFX is an Australian broker offering ECN accounts & the MetaTrader platforms.
Demo Account
Yes
Regulated By
ASIC, VFSC
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Bonus
None
TIO Markets offers 120 instruments, MetaTrader platforms & PAMM accounts.
Demo Account
Yes
Regulated By
FCA
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Bonus
None
Larson & Holz offer desktop & mobile trading on FX and CFDs via the MT5 platform.
Demo Account
Yes
Regulated By
MT4 Integration
No
Min. Deposit
$250
Min. Trade
0.01 lots
Bonus
None
Moneta Markets is a regulated FX & CFD broker offering a proprietary web platform.
Demo Account
Yes
Regulated By
CIMA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
None
Uptos offers multiple trading assets, payment options and the MT5 platform.
Demo Account
No
Regulated By
MT4 Integration
No
Min. Deposit
$250
Min. Trade
0.01 lots
Bonus
None
Weltrade is an established online broker providing tight spreads & powerful tools.
Demo Account
Yes
Regulated By
MT4 Integration
Yes
Min. Deposit
$25
Min. Trade
0.01 lots
Bonus
None
Arum Capital is a CySEC-regulated forex broker offering the MT5 platform.
Demo Account
Yes
Regulated By
CySEC
MT4 Integration
No
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
None
AMarkets offers a suite of tools and trading products on the MT4 & MT5 platforms.
Demo Account
Yes
Regulated By
FSA SVG
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
Demo Account
Yes
Regulated By
HCMC
MT4 Integration
Yes
Min. Deposit
$1 to $300 (Broker choice dependent)
Min. Trade
$1
Bonus
None
Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry
Demo Account
Yes
Regulated By
FINRA, SIPC, NFA
MT4 Integration
Yes
Min. Deposit
£2500
Min. Trade
1 contract
Bonus
None
Trade360 offers multiple financial instruments and a live trader sentiment feed.
Demo Account
Yes
Regulated By
CySEC
MT4 Integration
No
Min. Deposit
$250
Min. Trade
0.01 lots
Bonus
None
EverFX is an online broker offering trading in forex, stocks, cryptos and commodities.
Demo Account
Yes
Regulated By
CySEC, FSA, CIMA
MT4 Integration
Yes
Min. Deposit
$250
Min. Trade
0.01 lots
Bonus
None

The best UK trading brokers offer MetaTrader 5. With that said, minimum deposits, leverage options, commissions and swap fees vary between providers as these are not dictated by MT5. You can open both demo and real live accounts upon registration with your chosen brokerage. Once you’ve received your login credentials, you can start investing in the financial markets.

As a guide, see a list of the best MT5 brokers.

What Is MetaTrader 5?

MT5 is the latest version of the popular MetaTrader 4 system. Both were created by software developers MetaQuotes and share the logo of three traders exchanging game cards.

MetaQuotes history began in 2002 with the first ever MetaTrader platform. But the developer’s popularity soared with the release of MT4, which proved a winner with retail forex traders. In 2010, MetaTrader 5 was released with slow uptake initially as investors were resistant to change. However since the news that MetaQuotes stopped selling licences to MT4, the platform’s popularity, which is aimed at experienced traders, is on the up.

MetaTrader 5 - how to get started

MetaTrader 5 desktop & mobile trading

MetaTrader 5 offers investing in forex, CFDs, stock and shares, indices and commodities. To access the platform, you’ll need to sign up with a broker. The MT5 software is licensed to forex brokers for a fee and then provided free of charge to traders. Both demo accounts and live accounts are available through most brokers.

Getting Started On MetaTrader 5

Download the free exe. file using the link on the broker’s website or directly from MetaQuotes. Alternatively, access via your browser using the MT5 webtrader terminal – perfect for Chromebook users.

System Requirements

MetaTrader 5 is available on Mac, PC and Linux. However, Mac users will need to download additional software such as Wine or Parallel to enable certain functionality. MT5 is increasingly difficult to pair with Macbook Pro computers due to the iOS Catalina update. Investors using Windows 7 and 8 can use MT5, though Windows 10 is preferred. The minimum processing speed is now 64 bit. 32 bit is no longer supported along with Windows XP and Vista.

MetaTrader 5 online tradingMetaTrader 5 online trading

Taking Positions

To make a trade on Mac or Windows, click the ‘New Order’ symbol. Fill in the details, including the lot size, (known as volume). One lot is equal to 100,000 of the base currency, so £1,000 is 0.01 lots. Add a stop loss and take profit figure and any comments for your downloadable trading journal. Review your trade and then click buy or sell. You’ll receive confirmation the trade has been placed.

MetaTrader 5 order types

MetaTrader 5 order types

MT5 Mobile

The MetaTrader 5 mobile app is available for download on both iPhone and Android (APK). Users can access respective applications via the App Store or Google Play. The MT5 mobile app is suitable for beginners. However newbies will want to spend time reading tutorials before they register for a live account and deposit for real. The mobile solution offers dozens of indicators, a range of charts, push notifications, as well as automated copy trading.

MetaTrader 5 mobile

MetaTrader 5 mobile

MetaTrader 5 Vs MetaTrader 4

So, which is better? MetaTrader 4 is one of the most popular platforms for forex trading. Some brokers, for example IG and OANDA, only offer MT4. But what is the difference?

Interface

MT5 has a very similar dashboard to MetaTrader 4. Users of one should be able to transfer quite easily to the other. MT5 offers 21 default time frames vs the 9 available on MT4. If you’re operating on a day trading strategy, these offer increased potential for analysis. Increased customisation means you can turn your graphs to ‘dark mode’ on MT5 (just like on cTrader), a nifty function not available on its predecessor. Keyboard shortcuts (AKA hotkeys) remain the same across both versions.

MetaTrader 5 charts

MetaTrader 5 charts

Customised chart parameters can be added using templates. These can be found in \MQL5\Profiles\Templates. You can use templates to modify chart types and colours, add EAs, other technical indicators, graphical objects or day separators. For copy trading signals, go to Help and click Signals. You’ll find a selection to choose from with a view on reliability and growth.

Orders

There are six pending orders on MetaTrader 5 vs the four on MT4. These include the buy stop limit and sell stop limit which were not available on the previous version. This is good news for savvy traders looking to implement effective risk management tools and alerts.

MT5 risk stops

MT5 risk stops

Technical Analysis

MetaTrader 5 offers 38 built-in indicators, beating MT4 which only provides 30. These include:

  • Alligator
  • Bollinger Bands
  • Bears Power/Bulls Power
  • Moving Averages
MetaTrader 5 technical indicators

MetaTrader 5 technical indicators

Custom indicators and data points, such as Volume Profile, Time Zones or MACD 2 Lines, can be added using Java, Python and MLQ5 gateway APIs. Popular custom indicators include:

  • B-clock
  • ZigZag
  • Renko
  • Pivot Points
  • Exponential Moving Averages (EMA)

Functionality

Speed of execution is a high priority on MT5. Investors can enable One-Click Trading and positions can be modified, including adding a trailing stop, after they’ve been placed. Users can even deposit using a QR code.

MetaTrader 5 one-click trading

MetaTrader 5 one-click trading

Withdrawal of funds is simple on both platforms. Just go to ‘Options’ > ‘My Account’ and then select the withdrawal method. Level 2 Pricing (market depth) is available on MT5 with certain brokers. Not previously available on MT4, this feature allows you to assess liquidity and arguably better predict short-term price movements.

Financial Instruments

MetaTrader 5 expands the instruments available beyond currency pairs. You can now trade CFDs, futures and binary options on the following:

  • Stocks and shares
  • Commodities including gold and silver
  • Cryptocurrency, including Bitcoin and Ripple
  • Indices such as the Dax 30, Dow Jones, NSE, NASDAQ and S&P 500

Note, real stock trading is unavailable on MT5 vs brokers that offer their own platforms such as Trading 212.

Automated Trading

Expert Advisors (EA) are available on both platforms using the MT5 Codebase. Ensure your automated trading robots have gone through backtesting before you change from a demo account to real money investing. There is no history centre on MT5, so instead of using historical data to backtest, download the strategy tester.

MetaTrader 5 automated trading

MetaTrader 5 automated trading

PDF tutorials and videos for building your own EA are available through the MT5 forum or through broker education centres. API Python integration is also available.

Cost

Both MetaTrader 5 and 4 are free of charge when you sign up to a broker. Therefore price gives it the edge vs competitors, such as NinjaTrader 8, which can cost thousands of pounds depending on your asset selection. MT5 remains one of the best free trading platforms on the market.

Customer Support

The MetaTrader 5 community is vast and there are hundreds of forums filled with support and handy guides. User manual PDFs are easy to come by, with everything from charts and graphs, to Java and MQL5 explained. They can also advise how to change the platform time zone.

Help for technical queries such as MT5 not working, updating, or connecting to the server, including forgotten passwords is available through the Contact Us page. From here you’ll get assistance from an MT5 trade manager. However, most of these issues can be resolved with a simple restart or software update.

For more advanced issues, such as the commonly identified ‘off quotes’ error message (which essentially means the market is closed) or unsupported filling mode error (where your broker does not support that instrument), the forum is the best place to start. Other common errors include users who can’t place orders, have no connection or if the programme keeps closing. All of these are answered by the MQL5 community.

MetaTrader 5 customer support

MetaTrader 5 customer support

Final Word On MetaTrader 5

MetaTrader 5 is a new and improved platform vs the earlier MetaTrader 4. Forex traders have proved slow to adapt to the recent release and so MT4 remains popular in the community. However, increased indicators, tradable instruments, functionality such as ‘dark mode’ and more pending orders means that MT5 is widely regarded as superior. MetaQuotes could have done more to update the interface (which remains reminiscent of Windows 95) and is lacking compared to competitors such as cTrader and NinjaTrader. But overall, MT5 pips them to the post.

FAQ

Can I Trade Shares On MetaTrader 5?

No, MetaTrader 5 offers forex, CFD and options trading. Investors can trade options on stocks and shares but will not own the underlying asset. The range of instruments also varies between online brokers.

Is MetaTrader 5 Better Than MetaTrader 4?

MT5 is the most recent release from MetaQuotes, an update on the previous MetaTrader 4. Whilst the platform has increased functionality with more indicators, pending orders and tradable instruments, many forex traders prefer MT4.

Is MetaTrader 5 Suitable For Mac Users?

Yes, Mac users can trade with MetaTrader 5. However, MT5 was designed for Windows computers and with the iOS Catalina update, it is increasingly difficult for Mac users to operate. To access some functionality, Apple traders will need to download additional software such as Wine or Parallel.

Is MetaTrader 5 Free?

MT5 is free to download. You’ll need to sign up to a broker to trade with real money. Brokers, such as XM, XTB, JFD and Admiral Markets usually require a minimum deposit which varies between firms. Demo accounts are available for those that would prefer to practice before they invest.

Is MetaTrader 5 Suitable For Beginners?

Beginners should practice using a demo account before they invest real capital. Preliminary accounts are available through your broker. However, the platform is suitable for beginners. Tutorials and PDF guides are available on the MQL5 community forum for beginners before they get started on desktop and mobile trading (iPhone and Android).