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

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Found 34 Brokers
Pepperstone offers spread betting and CFD 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, DFSA, CMA, BaFin
MT4 Integration
Yes
Min. Deposit
$500 recommended
Min. Trade
0.01 Lots
Crypto
Yes
Leading forex and CFD broker since 2006, regulated in Ireland, Australia, Canada, Japan, Abu Dhabi, and South Africa. AvaTrade offers multiple trading platforms, including MT4/5, Web Trader, Mobile App, Vanilla options and Social Trading. +1250 Financial Instruments, Educational content and multilanguage customer support active 24/7. 20% Welcome bonus available on allowed countries.
Demo Account
Yes
Regulated By
CBoI, ASIC, FSB, ESMA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
$.01
Crypto
No
Reliable and affordable trading since 2009. Join over 900,000 others trading on 400+ CFD products over assets like forex, gold, indices, cryptocurrency and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
Demo Account
Yes
Regulated By
ASIC, FCA, CIMA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 Lots
Crypto
Yes
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
Crypto
No
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
IFSC, DFSA, CySEC, ASIC
MT4 Integration
Yes
Min. Deposit
5 $/€/£
Min. Trade
0.01 Micro lots
Crypto
No
Trade Forex on 0.0 pip spreads with the world's leading True Raw forex broker - IC Markets.
Demo Account
Yes
Regulated By
ASIC, CySec, FSA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 Lots
Crypto
Yes
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
Crypto
Yes
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
Crypto
Yes
FXChoice is an offshore retail broker offering MT4 and MT5 platform downloads plus online CFD trading.
Demo Account
Yes
Regulated By
FSC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Crypto
Yes
Fusion Markets are delivering low cost forex and CFD trading via low spreads and trading costs. Their message is - Stop paying too much to trade
Demo Account
Yes
Regulated By
ASIC
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 Lots
Crypto
Yes
FXTM is a leading forex and CFD broker. Offering a huge range of markets and 6 account types, they cater to all levels of trader.
Demo Account
Yes
Regulated By
CySec, ESMA, FCA and FSC of the Republic of Mauritius
MT4 Integration
Yes
Min. Deposit
From $50
Min. Trade
0.01 lots
Crypto
No
GO Markets is an ASIC-regulated FX & CFD broker.
Demo Account
Yes
Regulated By
ASIC, CySEC, FSC of Mauritius
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Crypto
Yes
ThinkMarkets is a multi-regulated forex and CFD broker
Demo Account
Yes
Regulated By
FCA, ASIC, FSCA, CySEC, JFSA, FSA Seychelles
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 lots
Crypto
Yes
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, ESMA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Crypto
No
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, DFSA, FCA, SCB, FSCA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 Lots
Crypto
Yes
Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
Demo Account
Yes
Regulated By
FSRA, FCA, FSC, CMA
MT4 Integration
Yes
Min. Deposit
Trader Pro: $10,000 Trader: $100 
World:$20
Min. Trade
0.01 lots
Crypto
No
TMGM is a competitive forex and CFD broker with a wide range of instruments, features and tools provided at low-cost.
Demo Account
Yes
Regulated By
ASIC, FMA, VFSC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Crypto
Yes
Pacific Union is a multi-asset broker offering trading via the MT4 and MT5 platforms.
Demo Account
Yes
Regulated By
Cyprus Securities and Exchange Commission (CySEC) and Seychelles Financial Services Authority (SFSA)
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Crypto
Yes
RoboMarkets is an award-winning broker offering flexible margin trading.
Demo Account
Yes
Regulated By
CySEC
MT4 Integration
Yes
Min. Deposit
$/£/€100
Min. Trade
0.01 lots
Crypto
No
Bitfinex is among the best crypto exchanges for experienced investors with a free mobile trading application and low fees.
Demo Account
Yes
Regulated By
MT4 Integration
Yes
Min. Deposit
$10,000
Min. Trade
$10 - $25
Crypto
Yes
ActivTrades offers online trading on the MT4, MT5 and ActivTrader platforms. Over 93.60% of orders are executed at the requested price.
Demo Account
Yes
Regulated By
FCA, SCB
MT4 Integration
Yes
Min. Deposit
$500
Min. Trade
0.01 lots
Crypto
Yes
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
Crypto
No
Swissquote is an FCA-regulated FX & CFD broker offering 160+ trading products.
Demo Account
Yes
Regulated By
FCA, FINMA, DFSA, SFC
MT4 Integration
Yes
Min. Deposit
$1,000
Min. Trade
0.01 lots
Crypto
No
Speculate on traditional and emerging financial markets via MT4, MT5 and cTrader. FXPrimus is multi-regulated and offers leverage up to 1:1000 alongside monthly promotions.
Demo Account
Yes
Regulated By
CYSEC, MIFID, ICF, FCA, BaFin, VFSC
MT4 Integration
Yes
Min. Deposit
$15
Min. Trade
0.01 lots
Crypto
Yes
FP Markets is a multi-asset broker offering a choice of trading platforms.
Demo Account
Yes
Regulated By
ASIC, CySEC, ESMA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Crypto
Yes
Admiral Markets is leading Forex and CFD broker offering the MT4 & MT5 platforms
Demo Account
Yes
Regulated By
FCA, CySEC, ASIC, JSC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Crypto
Yes
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
Crypto
Yes
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
Crypto
Yes
Infinox is a UK-based broker offering MT4 trading with tight spreads.
Demo Account
Yes
Regulated By
FCA
MT4 Integration
Yes
Min. Deposit
£1
Min. Trade
0.01 lots
Crypto
No
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
Crypto
No
TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips. With a focus on innovation and transparency, they are a growing brand.
Demo Account
Yes
Regulated By
SVG FSA, NFA, CAMA Nigeria
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Crypto
Yes
Just2Trade offer high tech trading on stocks and options with some of the lowest prices in the industry.
Demo Account
Yes
Regulated By
CySEC, NFA, FINRA, Bank of Russia
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01
Crypto
Yes
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
Broker choice dependent but balance on ZuluTrade should exceed $100
Min. Trade
$1
Crypto
Yes
InstaForex provide Forex, CFDs, Stock and Cryptocurrency trading. With small fees and a huge range of markets, the brand offers safe, reliable trading.
Demo Account
Yes
Regulated By
CySec
MT4 Integration
Yes
Min. Deposit
€100 to €50000 (Account choice dependent)
Min. Trade
0.01 Lots
Crypto
No

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).