5 Best MetaTrader 5 (MT5) Brokers to Trade CFDs 2024

MetaTrader 5 is a popular trading platform supported by many top-rated brokers. This article outlines the best MT5 brokers to open an account with. It also covers the differences between MT4 and MT5 and essential subjects such as available leverage, fees, and trading instruments.

az-forex-brokers
eToro Logo

Online Trading With Commission from $0

Assets:
CFD: YES
Min Deposit: $10
Visit eToro

78% of CFD accounts lose money.

FPMarkets

Min $100

Regulated By

Regulated By

ASIC & CySEC

Used By

Used By

1,000,000+ Clients

Established in

Established in

2005

Visit Broker

77.11% of retail investor accounts lose money when trading CFDs with this provider.

Spreads From

EURUSD 0.0 pips

What Can You Trade on FPMarkets

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Platforms

DesktopMobileMT4MT5cTrader

Funding Methods

VisaMaster CardSkrillNetellerFasapayPayRetailersPayTrustPagSmilePerfect MoneyBitcoinGoogle PayApple Pay

Account

Account TypeEURUSD Spread FromCommissionExecutionMin. DepositChoose Account
Demo Account0.0 pip$0Market$100,000 Open Account
Standard Forex Account1.0 pip$0Market$100 Open Account
Raw Forex Account0.0 pip$3 / lotMarket$100 Open Account
Retail Iress Account+3%0.06%Market$1000 Open Account
Professional Iress Account+2%0.05%Market$1000 Open Account
Islamic Trading Account0.0 pip$3 / lotMarket$100 Open Account
Open account table

AvaTrade

Min $100

Regulated By

Regulated By

FFAJ, CySEC, ISA, IIROC, ADGM/FSRA, CBI, BVIFSC, FSCA, ASIC

Used By

Used By

300,000+ Global Clients

Established in

Established in

2006

Visit Broker

78% of CFD accounts lose money.

Spreads From

EURUSD 0.9 pips

What Can You Trade on AvaTrade

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Platforms

DesktopMobileMT4MT5

Funding Methods

Wire TransferVisaMaster CardPaypalSkrillNetellerPerfect Money

Account

Account TypeEURUSD Spread FromCommissionExecutionMin. DepositChoose Account
Demo0.9 pip$0Market$10,000 Open Account
Retail0.9 pip$0Market$100 Open Account
Islamic (Swap Free)0.9 pip$0Market$100 Open Account
Professional0.9 pip$0Market$100 Open Account
Open account table

Admirals

Min $25

Regulated By

Regulated By

FCA, CYSEC, ASIC, JSC & FSCA.

Used By

Used By

1,000,000+ Users

Established in

Established in

2001

Visit Broker

79% of CFD accounts lose money.

Spreads From

EURUSD 0.1 pips

What Can You Trade on Admirals

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Platforms

DesktopMobileMT4MT5

Funding Methods

Wire TransferVisaMaster CardPaypalSkrillNeteller

Account

Account TypeEURUSD Spread FromCommissionExecutionMin. DepositChoose Account
Demo0.1 pip$0Market$10,000 Open Account
Trade.MT4/MT50.1 pipFrom $0.02Market$25 Open Account
Zero.MT4/MT50 pipFrom $0.05Market$25 Open Account
Invest.MT50 pipFrom $0.02Market$1 Open Account
Islamic.MT5(Swap Free)0.1 pipFrom $0.02Market$25 Open Account
Bets.MT50.1 pip$0Market£100 Open Account
Professional0 pipFrom $0.05Market$25 Open Account
Open account table

Pepperstone

Min $10

Regulated By

Regulated By

FCA, ASIC, CYSEC, CMA, BaFin, DFSA & SCB

Used By

Used By

300,000+ Traders

Established in

Established in

2010

Visit Broker

74% of CFD accounts lose money.

Spreads From

EURUSD 0.6 pips

What Can You Trade on Pepperstone

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Platforms

MT4MT5cTrader

Funding Methods

Wire TransferVisaMaster CardPaypalSkrillNetellerUnionPayBPayPOLi Transfer

Account

Account TypeEURUSD Spread FromCommissionExecutionMin. DepositChoose Account
Demo1.0 pip$0Market$200 Open Account
Standard1.0 pip$0Market$10 Open Account
Razor0 pip$7 per lotMarket$10 Open Account
Professional0 pip$7 per lotMarket$0 Open Account
Islamic (Swap Free)1.0 pip$0Market$200 Open Account
Open account table

ThinkMarkets

Min $0

Regulated By

Regulated By

FSCA, FCA & ASIC

Used By

Used By

1,000,000+ Users

Established in

Established in

2010

Visit Broker

68.66% of CFD accounts lose money.

Spreads From

EURUSD 0 pips

What Can You Trade on ThinkMarkets

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Platforms

DesktopMobileMT4MT5

Funding Methods

Wire TransferVisaMaster CardSkrillNetellerPerfect MoneyBitcoin

Account

Account TypeEURUSD Spread FromCommissionExecutionMin. DepositChoose Account
Demo0.4 pip$0Market$25,000 Open Account
Standard0.4 pip$0Market$0 Open Account
ThinkZero0 pip$3.5 per lotMarket$500 Open Account
Islamic(Swap Free)0.4 pip$0Market$0 Open Account
Joint0.4 pip$0Market$0 Open Account
Open account table

FPMarkets

Min $100

Visit Broker

77.11% of retail investor accounts lose money when trading CFDs with this provider.

Regulated By

Regulated By

ASIC & CySEC

Used By

Uused By

1,000,000+ Clients

Established in

Established in

2005

Spreads From

EURUSD 0.0 Points

Platforms

DesktopMobileMT4MT5cTrader

What Can You Trade on FPMarkets

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Funding Methods

VisaMaster CardSkrillNetellerFasapayPayRetailersPayTrustPagSmilePerfect MoneyBitcoinGoogle PayApple Pay

Accounts

Account TypeEURUSD Spread FromCommissionExecutionMin. DepositChoose Account
Demo Account0.0 pip$0Market$100,000 Open Account
Standard Forex Account1.0 pip$0Market$100 Open Account
Raw Forex Account0.0 pip$3 / lotMarket$100 Open Account
Retail Iress Account+3%0.06%Market$1000 Open Account
Professional Iress Account+2%0.05%Market$1000 Open Account
Islamic Trading Account0.0 pip$3 / lotMarket$100 Open Account
Open Account Table

AvaTrade

Min $100

Visit Broker

78% of CFD accounts lose money.

Regulated By

Regulated By

FFAJ, CySEC, ISA, IIROC, ADGM/FSRA, CBI, BVIFSC, FSCA, ASIC

Used By

Uused By

300,000+ Global Clients

Established in

Established in

2006

Spreads From

EURUSD 0.9 Points

Platforms

DesktopMobileMT4MT5

What Can You Trade on AvaTrade

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Funding Methods

Wire TransferVisaMaster CardPaypalSkrillNetellerPerfect Money

Accounts

Account TypeEURUSD Spread FromCommissionExecutionMin. DepositChoose Account
Demo0.9 pip$0Market$10,000 Open Account
Retail0.9 pip$0Market$100 Open Account
Islamic (Swap Free)0.9 pip$0Market$100 Open Account
Professional0.9 pip$0Market$100 Open Account
Open Account Table

Admirals

Min $25

Visit Broker

79% of CFD accounts lose money.

Regulated By

Regulated By

FCA, CYSEC, ASIC, JSC & FSCA.

Used By

Uused By

1,000,000+ Users

Established in

Established in

2001

Spreads From

EURUSD 0.1 Points

Platforms

DesktopMobileMT4MT5

What Can You Trade on Admirals

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Funding Methods

Wire TransferVisaMaster CardPaypalSkrillNeteller

Accounts

Account TypeEURUSD Spread FromCommissionExecutionMin. DepositChoose Account
Demo0.1 pip$0Market$10,000 Open Account
Trade.MT4/MT50.1 pipFrom $0.02Market$25 Open Account
Zero.MT4/MT50 pipFrom $0.05Market$25 Open Account
Invest.MT50 pipFrom $0.02Market$1 Open Account
Islamic.MT5(Swap Free)0.1 pipFrom $0.02Market$25 Open Account
Bets.MT50.1 pip$0Market£100 Open Account
Professional0 pipFrom $0.05Market$25 Open Account
Open Account Table

Pepperstone

Min $10

Visit Broker

74% of CFD accounts lose money.

Regulated By

Regulated By

FCA, ASIC, CYSEC, CMA, BaFin, DFSA & SCB

Used By

Uused By

300,000+ Traders

Established in

Established in

2010

Spreads From

EURUSD 0.6 Points

Platforms

MT4MT5cTrader

What Can You Trade on Pepperstone

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Funding Methods

Wire TransferVisaMaster CardPaypalSkrillNetellerUnionPayBPayPOLi Transfer

Accounts

Account TypeEURUSD Spread FromCommissionExecutionMin. DepositChoose Account
Demo1.0 pip$0Market$200 Open Account
Standard1.0 pip$0Market$10 Open Account
Razor0 pip$7 per lotMarket$10 Open Account
Professional0 pip$7 per lotMarket$0 Open Account
Islamic (Swap Free)1.0 pip$0Market$200 Open Account
Open Account Table

ThinkMarkets

Min $0

Visit Broker

68.66% of CFD accounts lose money.

Regulated By

Regulated By

FSCA, FCA & ASIC

Used By

Uused By

1,000,000+ Users

Established in

Established in

2010

Spreads From

EURUSD 0 Points

Platforms

DesktopMobileMT4MT5

What Can You Trade on ThinkMarkets

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Funding Methods

Wire TransferVisaMaster CardSkrillNetellerPerfect MoneyBitcoin

Accounts

Account TypeEURUSD Spread FromCommissionExecutionMin. DepositChoose Account
Demo0.4 pip$0Market$25,000 Open Account
Standard0.4 pip$0Market$0 Open Account
ThinkZero0 pip$3.5 per lotMarket$500 Open Account
Islamic(Swap Free)0.4 pip$0Market$0 Open Account
Joint0.4 pip$0Market$0 Open Account
Open Account Table

Summary

MetaTrader 5 is a trading software created by MetaQuotes. The platform allows traders to place orders on CFD instruments, such as stocks, forex, options, futures and many more. It also provides several charting tools, multiple timeframes, and algorithmic trading. This article contains a detailed list of the best MT5 brokers. It also explores everything you need to know to compare MT5 brokers, including their fees, leverage, regulations, payment methods, and spreads. 

What is MT5?

MetaTrader 5 (MT5) is a multi-asset trading application launched in 2010 as a proposed upgrade to the MetaTrader 4 (MT4) platform. MT5 allows brokers to offer their clients a wider range of assets and more advanced features. This platform supports an extensive range of instruments, including forex, indices, cryptocurrencies, bonds, stocks, and options. 

Pros and Cons of Trading on MT5

Here are some of the pros and cons of trading on the MT5.

Pros

  • Supports a Wide Range of Instruments. 
  • Provides an Economic Calendar.
  • Supports Algorithmic Trading and Copy Trading.
  • Offers more Technical Analytics Tools.
  • Offers more Time Frames.
  • Allows Traders to set Buy-Stop and Sell-Stop Limits.

Cons

  • Not very Beginner-Friendly.
  • Relatively Low Adoption among many Brokerage Companies.

What are MT5 Brokers?

MT5 brokers are financial service companies that allow clients to invest in various financial assets via the MetaTrader 5 trading platforms/app. Some of these companies offer proprietary desktop and mobile applications with the MT5 platform, while others only support MT5 for trading. The MT5 brokers list is very long and contains popular companies such as Pepperstone, ThinkMarkets, Admirals, AvaTrade, IC Markets, and ActivTrades. Each broker offers CFD instruments, including stocks, on their platforms. Unlike other brokers not compatible with MetaTrader, individuals who open an account with an MT5 broker can download the MT5 desktop or mobile app or use the web version for their trading activities. These companies usually have a server listed on the MetaTrader app. When clients connect to the server and enter their login details, they will have access to all the charting tools and features on MT5 for their trading activities. 

Factors to Consider when Choosing an MT5 Broker

As part of our article on the best MT5 brokers, we outline some essential criteria users must consider before selecting a MetaTrader-compatible trading service. 

Regulations

When choosing between MT5 brokers, you must conduct sufficient research to ensure that they are well-regulated by recognized bodies in the regions where they operate. Examples of popular regulatory organizations include the Financial Conduct Authority (FCA), the Australian Securities and Investment Commission, and the Cyprus Securities and Exchange Commission (CySEC). Brokers under these authorities are forced to comply with strict guidelines that guarantee transparency and protect their clients from fraud or price manipulation. 

Fees and Commissions

There are many financial services companies available, each one offering several financial instruments to clients. However, as you sort through a list of MT5 brokers to select the best fit, you must consider their pricing plans. The best MT5 brokers are not just reliable and highly regulated. They also provide a broad selection of assets at an affordable price. Ensure you pick a trading service that offers lower commissions, spreads, and other trading and non-trading charges compared to its competitors without compromising customer service. 

Execution Speed

Another factor to consider when you compare MT5 brokers is their order execution speed. Order execution speed is the duration between when you place an order and when it is executed. Most brokerage companies provide this information on their website, and the time can be as fast as a few milliseconds. Quick execution is crucial to avoid losses due to slippage.

Trading Instruments

Not all MT5 brokers offer the same number or range of financial assets. For example, you might find a broker that provides many types of assets, such as Forex, Cryptocurrencies, Stocks, Commodities, and Indices. However, they may only offer a few instruments under each asset class. On the other hand, some financial service providers may also have a limited number of assets. The best MT5 brokers usually list various asset classes with several options under each category. 

Leverage

The amount of leverage a broker can offer depends on many factors, including their regulatory bodies. MT5 brokers that allow clients a very high leverage give them more exposure to the market. However, this can equally lead to severe losses as it is a double-edged sword. Depending on your risk appetite, you must choose a broker with sufficient leverage for margin trading on your account. 

Spread

Spread refers to the difference between the bid and ask price of an asset. It is broadly considered one of the most essential trading fees. Depending on how they finance their operations, MT5 brokers can profit from the spreads on their listed financial assets. These spreads typically vary from broker to broker, with some companies offering spreads as low as 0 pips. Along with the other factors mentioned, it is vital to consider how broad or narrow their spreads are before you open an account with any trading company. 

Trading Platforms

Many brokers that offer MT5 also have an exclusive trading platform for their clients. Regardless of whether the MT5 app is your primary option for trading, it is essential to check if your broker of choice has a well-designed proprietary app. Evaluate the user interface and charting tools and ensure that they are adequate. Also, confirm if these trading platforms are available on mobile and desktop. 

Reputation

The best MT5 brokers have been around for a long time and have built an excellent reputation. A trading company’s reputation is a trustworthy indicator of its quality of service and reliability. You are less likely to be a victim of unscrupulous activities when you register an account and deposit funds with a popular and well regulated broker. 

Trading Instruments Available on MT5 Brokers

As explained earlier, MT5 brokers offer a more comprehensive range of instruments than their counterparts who only support the MT4 platform. Some assets you can trade on MT5 include stocks, forex, commodities, indices, cryptocurrencies, and ETFs. 

Stocks

MT5 brokers allow their clients to participate in the stock market. These financial investment companies offer access to popular exchanges in various countries, such as NASDAQ, the New York Stock Exchange (NYSE), Euronext Paris, Borsa Italiana, and the London Stock Exchange (LSE). On MT5, traders can place orders on shares from established companies, including Google, Meta, Tesla, Apple, and Amazon. 

Forex

Forex is one of the assets offered by MT4 and MT5 brokers. The best forex brokers for MT5 provide users with numerous currency pairs, including major, minor, and exotic pairs. For example, IC Markets lists EUR/USD, AUD/CHF, GBP/USD, and over 60 other currencies on its MT5 platform.

Commodities

Traders can find Brent Crude Oil, Cocoa, Coffee, Wheat, Sugar, and other commodities on the MT5 platform. Many MT5 brokers list several commodities, and clients can trade any of these items on the MetaTrader web, desktop, or mobile application.  

Indices

In addition to all the assets already listed, the best MT5 brokers provide indices such as NASDAQ100, S&P500, Nikkei 225, and CAC 40. For instance, IC Markets, Admiral Markets, and ActivTrades offer traders 23+, 40+, and 25+ indices, respectively.

Cryptos

Cryptocurrencies are not very common among most brokers. However, the MetaTrader 5 platform supports crypto trading, and some MT5 brokers offer this asset. Examples of investment companies that provide crypto instruments include Admiral Markets and ThinkMarkets. 

ETFs

Like stocks, MT5 brokers also permit traders to place orders on exchange-traded funds (ETFs). Clients with live accounts with these brokers will have access to ETFs such as the iShares 20+ Year Treasury Bond ETF, iShares Russell 2000 ETF, and SPDR S&P Regional Banking ETF. 

MT5 Trading Platforms

The MT5 software runs on all desktop operating systems, including Mac, Windows, and Linux. It is also available on the Android and iOS mobile OS. Traders required to access their broker’s service via this platform can do so via the MetaTrader web application or download the MT5 desktop or mobile application. After opening a trading account with their preferred service, clients can visit www.metatrader5.com to get started with their preferred option. Below, we discuss some features of the MT5 desktop platform and mobile application. 

MT5 Desktop Platform

The MT5 desktop platform can be downloaded on the software company’s website. It offers premium features and exceptional charting tools for technical analysis. Furthermore, unlike the mobile version, this application allows users to view multiple charts in one window. Here, as part of our review of the best MT5 brokers, we outline a few of the functionalities of this platform. 

MT5 Desktop Trading Platform

User Interface

MT5 on desktop can be considered slightly complex, especially for traders more familiar with the MT4 version. Despite this, the user interface is straightforward and has a short learning curve, even for first-time users. The tabs and buttons are self-explanatory, and navigation between charts and timeframes is easy. 

MT5 User Interface

Design

Upon opening the MT5 app on the desktop, traders will see various sections, including market watch, calendar, history, news, mailbox, and charts. They can also view up to four charts on a single screen and use multiple indicators. 

MT5 Design

Economic Calendar

The economic calendar is one of the features on MT5 that is not available in its previous version. From the toolbox section, clients of MT5 brokers will have access to news on upcoming events that can potentially shape price action. 

MT5 Economic Calendar

Notifications

Notifications inform traders when a predetermined event, for example, the close of a trade, has occurred. MT5 users on desktop will often be alerted when specific activities that require prompt action happen on their account.

MT5 Notifications

Indicators

MT5 brokers offer their clients 38 in-built indicators. These include Simple Moving Averages, Bollinger bands, Oscillators, Fibonacci retracement, and MACD. However, in addition to these options, users can download and install custom indicators on the MT5 app. 

MT5 Indicators

MT5 App

Clients of MT5 brokers who wish to download this application on their mobile devices can do so by visiting www.metatrader5.com or going directly to their device’s app store. MetaTrader 5 is available to Android and iOS users and provides a convenient way for traders to monitor the financial markets and place orders. Below, we cover some of the features offered on the MT5 mobile app. 

MT5 Mobile App

User Interface

Although the MT5 desktop application’s more expansive view makes for a better trading experience, the mobile version performs strongly. Depending on a trader’s device, they will experience little or no lags while scrolling through charts and can quickly begin trading all assets offered by their broker. 

MT5 Mobile App User Interface

Design

MT5 for mobile is built for quick and easy navigation. Each of the five tabs (Quotes, Charts, Trade, History, and Settings) is displayed at the bottom of the screen and can be accessed with a single click. Furthermore, the color scheme is excellent, and clients can easily read the fonts.

MT5 Mobile App Design

Indicators

Like MT5 for desktop, this mobile application provides 38 built-in indicators for technical analysis. Traders who use brokers offering MetaTrader 5 can plan their market approach and make better-informed decisions by relying on the advanced charting tools offered on the MT5 mobile app. 

MT5 Mobile App Indicators

Search

With the search feature, traders can quickly find their preferred instrument. Rather than scroll through a long list of financial assets, clients can type in the instrument they are looking for and place an order within seconds. 

MT5 Mobile App Search

Fees and Commissions on MT5 Brokers

Individuals trading on the MT5 platform will be required to pay specific fees. These fees depend on the broker and can be categorized into trading and non-trading costs. Some MT5 brokers have excessive costs, while others are relatively affordable. However, these are some fees you may incur when trading with an MT5 broker. 

Spreads

Spreads are the most common fee incurred by clients. Spreads available to clients vary based on several factors, including their account type. Furthermore, some financial investment companies offer fixed spreads, while others provide variable spreads. This figure is often stated on the broker’s website. 

Commissions

Commissions are a fixed fee that is charged on each trade. Usually, an MT5 broker may charge different commissions to clients depending on the asset being traded. Also, like spreads, the amount incurred as a commission can be based on the trader’s account type. 

Swap Fees

Swap fees are also known as rollover rates, and MT5 brokers charge them at the end of every trading day to traders who hold positions through the night. 

Currency Conversion Fee

Currency conversion costs are incurred when traders deposit or place trades in a currency denomination that varies from their account base currency. 

Inactivity Fee

Most MT5 brokers charge clients a small fee if their live accounts are unused for a specific period. The exact amount and eligibility for this charge varies from broker to broker. 

Deposit and Withdrawal Fee

Deposit and withdrawal fees are fixed amounts traders incur each time they fund or retrieve money from their live accounts. Not all MT5 brokers demand a fee for deposits and withdrawals. Furthermore, in some cases, this fee will depend on the payment method used. 

Payments Methods Available on MT5 Brokers

Many MT5 brokers list various funding options, including credit cards, debit cards, bank wire, Skrill, Neteller, POLi, crypto, Google Pay, and Apple Pay. However, not all funding methods provided by these companies are available in every region. Each of these payment methods also has varying transaction times. For example, while eWallet deposits may reflect almost instantly, bank transfers typically take at least 24 hours to reflect in a trader’s account. 

MT5 Brokers Regulation

Regulation is a vital aspect of any MT5 broker’s operations. Numerous organizations monitor the operations of financial investment companies across various countries. Nevertheless, these organizations have different reputations in terms of their overall credibility. A license from one or multiple tier-1 regulatory bodies is generally seen as a positive signal and is a common feature of the best MT5 brokers. Some of these tier-1 organizations include the Australian Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), the Japanese Financial Services Authority (JFSA), and the Cyprus Securities Exchange Commission (CySEC). While many MT5 brokers are regulated by less credible regulatory bodies, clients who open an account with these companies are at higher risk for fraud. 

MT5 Vs MT4

MT5 was released five years after MT4 and advertised as a faster and more efficient trading platform for users. Each application has its strengths and weaknesses, and traders can opt for either, depending on their unique needs. MT4 was initially created predominantly for forex trading. Therefore, its charting tools and features are not as robust as those of the MT5 app. MT5 provides 38 built-in indicators compared to the 30 available on MT4. It also displays 21 timeframes, while its predecessor only offers 9. However, one of the most significant differences between both versions of MetaTrader is that MT5 gives traders access to more instruments in every asset class, including forex, stocks, options, and crypto. In addition, the in-built economic calendar feature is only available on MT5. 

Despite the glaring differences between these applications, they share some similarities. First, both apps have a similar user interface. Furthermore, they support hedging and algorithmic trading. 

Are MT5 Brokers Safe?

While there are many reliable MT5 brokers, you must also beware of fraudulent companies. The safety of an MT5 broker depends on several factors, including regulation, financial procedures, and availability of insurance. MT5 brokers that are considered trustworthy are usually regulated by a reputable organization. Furthermore, they have strict guidelines protecting client funds, such as incorporating segregated accounts. In addition, some companies provide insurance coverage on their listed financial assets and negative account balance protection. 

What Reddit and Quora Say About MT5 Trading Platform & App

Here, we offer insights into what clients are saying about MT5 brokers on popular web platforms like Reddit and Quora. 

Reddit

Most Reddit users have similar opinions about the advantages of opting for an MT5 broker. They believe that although trading with MT4 is more straightforward, the MT5 platform’s support for more advanced charting capabilities makes it an excellent choice for individuals with some trading experience. Several Redditors also mentioned that MT5 brokers are valuable for traders who wish to incorporate automated trading with bots. They claim that the platform provides faster back-testing with cloud software. Overall, the general sentiment for MT5 brokers on this forum is very positive.

Reddit user review about MT5 brokers

Quora

Like Reddit, Quora users also have wonderful things to say about the MT5 platform. However, many accounts expressed concerns over what they believed to be an increased layer of complexity with the trading app. Also, some traders complained about glitches, especially when using the available MT5 charting tools. Despite this, most comments on Quora praise MT5 brokers for their fast execution and low spreads. 

Quora user reviews about MT5 brokers

Bottom Line

In this article, we explored the features of the best MT5 brokers. We also discussed some factors to consider before selecting an MT5 broker and highlighted the differences between the MT5 platform and its predecessor, MT4. Trading with an MT5 broker provides access to multiple trading instruments such as forex, cryptocurrencies, stocks, bonds, and options. Many companies support MT5, including AvaTrade, ThinkMarkets, IC Markets, and Pepperstone. All these companies allow traders to participate in the financial markets via their desktop or mobile devices. 

Q & A

The best MT5 brokers include Pepperstone, AvaTrade, IC Markets, ThinkMarkets, and Admirals. 

To download MT5, go to www.metatrader5.com and select the appropriate option for your device type. 

Yes, you can, provided your chosen broker offers this instrument.

Spreads on MT5 platforms are usually low, and many brokers, such as IC Markets and ThinkMarkets, offer spreads as low as 0 pips. You can check your broker’s spreads from their website. 

Most MT5 brokers are appropriately regulated. However, some are not authorized by any trustworthy regulatory body. 

There are no fees tied explicitly to using the MT5 platform. However, you may be required to pay other trading and non-trading charges.

Unfortunately, MT5 can only be used to trade and monitor stock CFDs.  

Yes, you can. MT5 permits traders to adjust their leverage. 

Yes, you can. MT5 is also available as a web trader. 

IC Markets and several other MT5 brokers offer leverage as high as 1:1000. However, leverage amounts offered by MT5 brokers can vary based on your country of residence and account type. For example, clients under the FCA’s jurisdiction cannot access leverage higher than 1:30. 

No, it is not. MT5 is available for download and usage in all countries. 

Yes. MT5 only permits trading of CFD instruments. 

MT5 offers a longer list of financial assets and provides more built-in charting tools and indicators. 

MT5 was launched by MetaQuotes in 2010.

Yes, you can copy trades on MT5.

Trade execution is much faster on MT5 than on the MT4 platform.

Unfortunately, MT4 is more accessible for beginners to use. 

Yes, spread-betting is permitted on MT5. 

Traders can use multiple MT5 accounts. However, they cannot be logged into more than one account at a time with the same MetaTrader 5 app. 

Some MT5 brokers charge a commission on CFD trading, while others do not. You must check with your specific broker to determine if they demand a commission on each trade.