Best MT5 Brokers for 2025

Best Mt5 Brokers Guide

Analysis by Andrew Blumer, Updated and fact checked by Senad Karaahmetovic, Last updated - December 20, 2024

Best MT5 Brokers

Having been in the trenches of financial markets for a good part of my career, I've seen firsthand how the choice of broker can make or break your trading strategy. Particularly with the MT5 platform, it's about more than just the software; it's the synergy between the platform's features and the broker's offerings that truly counts. In the European trading sphere, IC Markets, eToro, XTB, and XM are among the frontrunners that pair well with MT5. Let me give you the insider's scoop:

Best MT5 Brokers Compared

IC Markets

IC Markets is a powerhouse when it comes to leveraging MT5's capabilities. The broker is a haven for those of us in the fast-paced world of scalping and day trading, thanks to its ultra-tight spreads and swift execution speeds. The ability to integrate VPS and customize with plugins and scripts is a boon for traders looking to tailor their trading environment. With a diverse portfolio of tradable assets and robust regulatory backing, IC Markets offers both versatility and security. However, beginners might find the platform's advanced features a bit daunting at first.

RoboForex

RoboForex shines with its MT5 offering, providing a seamless experience across all devices. It's a solid pick for traders looking to diversify with a wide range of instruments, supported by the platform's user-friendly interface and fast execution. The high leverage options can be a double-edged sword, offering significant profit potential but also increasing risk. It's a broker that caters well to experienced traders who know how to navigate these waters.

XTB

XTB stands out for the MT5 trader who thrives on in-depth market analysis and research. Their arsenal of educational resources is second to none, making it a haven for traders at all levels looking to sharpen their skills. The security of trading under FCA and CySEC regulations cannot be overstated, but the platform might feel a bit overwhelming for complete beginners with its focus on advanced analytical tools.

XM

XM is the go-to MT5 broker for traders who prioritize support and a flexible trading environment. Their exceptional customer service and a wide array of account types cater to a diverse range of trading strategies and levels of experience. With stringent regulations from ASIC, CySEC, and IFSC, XM stands as a pillar of reliability. However, the wealth of options and features might be a bit much for traders looking for a more streamlined, straightforward trading experience.

MetaTrader 5 Brokers

Before you begin your search for the leading MetaTrader 5 (MT5) brokers in the industry, it is crucial to be aware of what the term means and how exactly it is different compared to the previous version, i.e., MT4.

MT means Meta Trader. It is the most recently released version of the multifunctional trading platform. Individuals who offer their clients this latest form of retail trading platform are commonly referred to as MT5 brokers. MetaTrader is mostly used by FX traders.

An MT5 broker is a fiscal mediator responsible for buying and selling operations on financial tools like foreign exchange (or Forex) market currencies, indices, precious metals, cryptocurrencies, raw materials, energies, etc.

What Is The MT5 Trading Platform?

MT5 has several trading platforms offering users the option to trade in financial instruments, including stocks, commodities, indices, and currencies. These platforms also support trading on multiple accounts simultaneously, thus facilitating the ease of monitoring multiple accounts from a single trading platform. MT5 also offers its clients complimentary trade updates, ensuring that the platform and clients remain updated with the latest market movements. MT5 also facilitates clients to gain exposure to new trading opportunities that they would not be able to get access to on other platforms.

Some key features that an MT5 Broker Review may cover are the availability of trading robots on the platform, the availability of custom indicators, the ability to generate trading signals and even the ability to trade using leverage. Experienced traders looking for a platform to trade can make use of the MT5 platform and as many as they want since it is a fully customisable platform with an easy-to-understand graphical user interface.

The MT5 platform allows the users to choose between a wide range of indicators, such as Simple Moving Averages, moving average convergence divergence or MACD and allows them to create their custom indicator. These trading robots have been known to generate winning trades regularly and are one of the reasons why MT5 brokers have become so popular.

MT5 is among the most popular and well-known names in the FX trading software world. With an expansive product offering including four different primary brokers and numerous add-on features, the company has been successful with its widespread popularity.

History Of MT5

Formed by MetaQuotes Software Corp and released in 2010, the MT5 trading platform came after the highly popular MT4, offering a modular interface for individual needs through MT5 brokers. Keeping the same logo, MT5 was designed for the advanced trader, with a large suite of trading tools. The program comes with numerous built-in trading indicators and robots. The interface can also be translated into around thirty-one different languages.

MT5's multifunctional program is best for advanced traders with experience. It allows users to use multiple retail investors accounts with numerous brokers. The program offers users price data and allows using a particular type of non-tradable assets like physical gold to offer margins for open spots of other instruments and generate customised financial symbols.

How Many Brokers Offer MT5

Over 300 brokers provide MT5, the dominant trading platform that trading systems utilise in addition to MT4 to execute trades. If a broker does not provide MT4 or MT5, they have likely developed their proprietary trading platform. There aren't many online brokers who provide MT5 trading as a trading alternative, so look around.

How Much Does MT5 Cost?

MetaTrader 5 is a free trading platform that allows traders to perform technical analysis and trading operations in the Forex and exchange markets. It is available for download on Windows, macOS, Linux, iOS, and Android operating systems. Newer traders should practise trading on a demo account before moving to a live MT5 account.

Is MT5 Commission-Free?

Platform charges tend to vary. In essence, this comes as one of the most crucial metrics that a trader must consider before actually going with any MT5 broker. Many MT5 brokers offer accounts in several types, and those accounts have varying pricing plans.

For instance, standard accounts, usually meant for casual traders not having copious amounts of experience, normally do not come with any commission fees (0 per cent) on all Forex markets. However, the trader will have to pay a lowered competitive spread.

MT5 Brokers Platform Types

The MT5 platform, similarly to the MT4 platform, can be accessed by Forex traders as the following:

MT5 Desktop Client

The MT5 desktop client is meant for Windows computers. It is the downloadable version of the MT5 platform. The desktop version comes with real as well as free-of-cost demo accounts. It has approximately a hundred interactive charts and twenty-one-time frames for in-depth technical analysis of exchange futures, stocks, currencies, and precious metals. The platform offers over eighty more indicators and several more required for Forex trading.

MT5 Web Trader

MT5 web trader is a web-based version of MT5 that users can view via Google Chrome and other commonly used browsers. Users need not download software for this as everything is available on browsers. It is a light version of the platform, which can be opened easily, even with a poor internet connection. The broker provides their customers with an individual URL that they can use to gain access to the service via the trader's login information. Since this is a light version of MT5, it only comes with twenty-four interactive charts and thirty technical indices.

MT5 Mobile Apps

The mobile application versions of the MT5 platform are offered in two different formats, i.e., one for iOS devices like the iPhone and iPad and the other for Android phones and tablets. Similar to the Web version of MT5, the mobile app offers thirty preinstalled indicators.

Although it is a light version of the program, the MT5 mobile application can easily send all types of orders and includes the One-Click Trading option. The MT5 trading application can be found on the Appstore for iOS devices and the Google Play Store for Android devices. It should be noted that the time zone established by your broker cannot be changed using your devices.

MT5 Multi-Asset Institutional Platform

The MT5 Multi-Asset Institutional Platform works best for larger international broker operations. The platform includes assets registered in the Forex, exchange index, stocks, and commodities futures trading markets. This version of the platform is a package deal interface compatible with white label licenses, exchange connection, features an enhanced back-office, and various APIs for webpage integration. In contrast to MT4, the MT5 platform includes a full-hedging option.

MT5 Forex Currencies

The most commonly used currencies in Forex include the Japanese Yen, Euro Canadian dollar, Swiss Franc, US dollar, Pound Sterling, and Australian dollar. These foreign exchange currencies form Forex pairs, e.g., EUR/USD, GBP/USD, USD/JPY, and USD/CHF. A trader can gain access to the currency market and trade these pairs with the help of a Forex broker. 

MT5 Trading

All you need for that is a computer (while smartphones and tablets work just as fine) with an internet connection, with the MT5 program, which is free to download. Currency buying and selling orders can be sent from the program directly. The trader attempts to predict the currency movement in fundamental and technical analysis. You buy a currency lower and then sell it when its value increases. The trader's earned revenue is equivalent to the significant difference between the buying and selling price of the invested currency.

Since all execution models, market insight and all potential trade types included are now available on the MT5 platform, brokers are now in even more demand than before. However, it should be noted that not all brokers offer platforms.

*Please note prices displayed in your MT5 Watchlist tool will be more up-to-date.

MT5 Stockbrokers

MT5 stockbrokers provide Forex traders with the opportunity to invest in shares and trade currencies via MT5.

MT5 offers fundamental insights into stocks, Forex, commodities, and other tools. The analysis offers essential information associated with a chosen company's stock, i.e., its financial assets and business profile overall. It also offers finance-based news and other economic conditions that may cause prices to fluctuate. The analysis also covers basic stock events and other educational content.

The offered information consists of an economic calendar for tracking notable events that can affect trading activities. The app picks out relevant information, preventing users from information overload. It is ideal for retail investors to opt for stocks that have a good underlying base.

Technical analysis enables active traders to execute considerably good daytime and short-term trades. This type of analysis includes indicators like market depth and other indicators that make both short and long-term trends explicit. The technical analysts then consider the supply forces and other considerations relevant to the operation.

MT5 Crypto Brokers

Over time, MT5 has become popular for Forex traders and cryptocurrency holders. Traders can now trade a wide range of virtual currencies like Bitcoin, Ethereum and more in MT5 to participate in the digital currency trend. Brokers also benefit from the growing revenue opportunities as the crypto trend keeps grabbing the headlines for touching levels never seen before in the history of Forex. Trading digital currencies in MT5 is a simple and attractive option due to the many benefits offered.

Cryptocurrency trading via the MT5 platform normally has particular contract requirements required by the broker.

MT5 Futures Brokers

Futures is considered a derivative product. It serves as a financial agreement between two parties requiring one party to produce a commodity or financial tool at a set date in the future. The other party must then pay a set price for it at the set time. The corresponding commodity or financial asset that is the desired product of the contract is known as an underlying asset.

These types of contracts are not always aimed at buying or selling assets. In many cases, market participants make consistent purchases and sales of futures (or the other way around) to gain revenue from the price difference. In that event, the contracts are removed from the transaction subject, becoming separate financial tools.

Why Trader Use MT5 Vs MT4

There are several important differences between MetaTrader 5 and MetaTrader 4. For instance, the amount of time frames in MT5 is 21, whereas in the previous version, i.e., MT4, it is only 9. Users can open an infinite number of charts in MT5 but MT4 comes with a limit of 128.

MT5 is suitable for advanced traders. MT4, on the other hand, is best for novices. MT5 provides users with an economic calendar. On the other hand, MT4 does not offer such a feature or any other feature similar to that.

In the most recent MT5 version, broker support is required. It is the opposite when it comes to MT4. In the most recent MT5 version you need will need broker assistance, while in MT4 this is the opposite.

MT4 is specifically built to support CFD forex instruments. MT5, in contrast, is a packaged state-of-the-art multiple-asset trading program. It covers both centralised and decentralised fiscal markets. These include futures, stocks, and FX trading tools.

MT5 functions faster in comparison to MT4. MT4 is a 32-bit, single-threaded program, while the MT5 platform is 64-bit and multi-threaded. MT4 and MT5 both come with internal mailing options. However, MT5 provides this service accompanied by attachments. Both platforms do not let users send out emails outside the program.

MT4 only allows hedging. In contrast, MT5 allows both netting and hedging.

How Copy And Social Trading Works With MT5

So, you're curious about diving into the world of copy and social trading using MT5, right? Let me break it down for you in a way that makes sense.

Think of MT5, or MetaTrader 5, as this high-powered trading platform that's like the Swiss Army knife for traders. It's got all these tools and features that let you analyze markets, test trading strategies, and, of course, trade. But here's where it gets interesting with copy and social trading.

Imagine a social network on your MT5 Brokers platform where it's all about trading. In the crowd, there are some rockstar traders, the kind of folks who've been around the block and have a knack for making profitable trades more often than not. Copy trading on MT5 lets you 'follow' these rockstars. It's like saying, 'Hey, whatever trade you're researching, I want in.' So, when they make a trade, your MT5 account automatically mirrors that trade. You're essentially copying their moves in real-time, speculating (with risk of loss) on their expertise to work in your favor.

Setting it up on MT5 is pretty straightforward. You can browse through the profiles of signal providers, check out their trading performance, and decide who you want to sync up with. It's crucial to do your homework here, though. Look beyond just profits; consider their risk management, the consistency of their success, and how it aligns with your own trading style and risk tolerance.

MT5 Advantages

One of the main benefits of the platform is that traders are not limited to using essential analytical resources like MT5 graphs, indicators, and tables, because of MQL5, a high-performance and object-focused language. It enables traders to establish their technological indicators.

MT5 also provides improved order management options, including orders with multiple deals and partial fills. A new position is opened every time a trader has a position open at a symbol and executes a new deal. That is the central idea that makes up the MT5 hedging system. Traders can establish 'Take-Profit' as well as 'Stop-Loss' levels. The program also lets them look up the profit level for every position. The most prominent advantages of using MT5 are:

Offers Access To Real Volume-Traded Data

MT5 allows clients to access actual volume-traded data, not just tick volume data. Tick volume means the number of price movements that have taken place during the bar. With the previous version, i.e., MT4, it is impossible to know the actual volume of the lots or contracts that have been traded.

MT5 Is A Multi-Market Platform

Bear in mind that the MT5 platform is a platform that caters to multiple markets. You can perform trades in both decentralised and centralised markets.

MT5 Allows You To Download Tick History

You can use MT5 to download the tick history and discuss it with your broker. The MT4 only allows you to save tick history, which leads to many restrictions manually. You have to keep your MT4 program on all day, and despite that, you cannot save all the ticks. In this case, you cannot find out what the top traded cluster in the chosen range was.

MT5 Offers Four Execution Modes

when it comes to order execution modes. It’s like the difference between a manual and an automatic transmission in cars; both get you from point A to B, but the experience and control can be worlds apart.

Each mode has its place, depending on the strategy and market conditions. It’s all about using the right tool for the job. Getting a grip on these can really up your trading game. So, what do you say, ready to dive in and give it a shot?

Now, MT5 has four main types of order execution modes, and understanding them is crucial if you want to navigate the markets effectively. Think of it as knowing the right golf club to pick for your shot; it can make or break your game.

MT5 Request Execution

First up, we've got 'Request Execution.' This one's a bit traditional. You request to buy or sell at a certain price, and then you wait for the broker to approve it. It’s like ordering a bespoke suit; you specify what you want, then wait for the tailor’s nod. It's great for when you need precision and aren't in a mad rush, but it can be a bit slow if the market's moving fast.

MT5 Market Execution

Then there's 'Market Execution.' This is where things get lively. You tell your broker to execute a buy or sell order at the current market price, and bam, it's done. No waiting for approval. It’s like buying a drink at a busy bar; you get what’s being served right then. This mode is perfect for fast-moving markets where timing is everything.

MT5 Instant Execution

Next, we've got 'Instant Execution.' This one’s a mix between request and market execution. You set your price, and if the market’s ripe, your order is executed instantly. But if the price moves too much, you get a requote. It’s like snagging a cab in rush hour; you might get it at your price, or you might have to negotiate.

MT5 Exchange Execution

Lastly, there's 'Exchange Execution.' This one’s a bit more specialized, used mainly in exchange-based markets. Your orders go directly to the exchange, getting filled based on the order book. It's like a live auction; you place your bid and see if the market bites.

Why Traders Prefer MT5

Other, just as useful advantages of using MT5 include:

• The MT5 platform offers a tooltip functionality that shows the range of units being swapped and other related information.
• Both MT5 brokers and traders can gain information regarding market depth in the terminal window.
• The record entries are always displayed first. MT5 users can track currencies better.
• The program automatically copies TP and SL settings on its own.
• In comparison to MT4, the time frames in MT5 have been raised to 21 from a mere 9.
• MT5 features more technical indicators in comparison to its predecessor.
• For added convenience, the program displays asset prices and trading volumes side by side.
• The documentation process is easier now that the XML format is accessible.
• MT5 features advanced settings for added customization.
• The platform comes with the latest statistical functionalities for the Standard Library.
• A new chat function is available.

MT5 Offers Useful Analytical Tools

MT5 provides a complete list of analytical tools, allowing traders to perform accurate analysis and prediction. It allows traders to open up to a hundred charts simultaneously in twenty-one unique timeframes. Other tools include thirty-eight technical indicators, seventeen display layouts for client indicators, and four scaling modes.

These tools help execute thorough technical analysis and enable traders to look up the liquidity status of the market and make informed decisions based on that.

Other, just as useful advantages of using MT5 include:

• The MT5 platform offers a tooltip functionality that shows the range of units being swapped and other related information.
• Both MT5 brokers and professional traders can gain information regarding market depth in the terminal window.
• The program automatically copies TP and SL settings on its own.
• In comparison to MT4, the time frames in MT5 have been raised to 21 from a mere 9.
• MT5 features more technical indicators in comparison to its predecessor.
• For added convenience, the program displays asset prices and trading volumes side by side.
• The documentation process is easier now that the XML format is accessible.
• MT5 features advanced settings for added customization.
• The platform comes with the latest statistical functionalities for the Standard Library.
• A new chat function is available.

MT5 Disadvantages

• MT5’s language (known as MQL5) is a lot trickier to understand compared to MT4’s language (known as MQL4).
• In MT5, it is not possible to import external data.
• Since MQL5 is a lot younger than MQL4 and not as common, comparatively fewer resources and libraries are available for guiding coders.
• Hedging is disabled by default in MT5.
• Since MT5 is coded from the ground up and not based on MT4, there can be plenty of glitches and bugs.

Can I Use MT5 Without A Broker’s Help?

It is not entirely possible to use MT5 without the assistance of a broker. After installing MT5, it is best to register with a reputable broker. It is a way the MT5 program links you to the broker.

How Do I Deposit Money In MT5?

A trader cannot deposit funds in MT5 without the availability of a broker account. To deposit funds in an MT5 account, log in to the broker's membership area. The next steps are to choose a deposit method, enter the deposit amount, and complete a transaction.

You may use a credit or debit card, bank transfer, cheque, or bill payment as your deposit method. Brokers constantly add new payment methods, sometimes even daily. The bank transfer option can be accessed only on working days.

If it is your first time depositing funds, waiting for the money to be cleared before you use it again to trade is crucial. You will also be required to provide proof of the deposit.

Normally, brokers provide MT5 on their websites and support features for it.

How Do I Withdraw Money From MT5?

Traders with an MT5 account can withdraw money by going to the 'File' menu and choosing the withdrawal options. From here, you can select the withdrawal method you think is right. Some brokers also accept payments in crypto.

It helps to guarantee that your chosen Forex broker requests clients to withdraw their funds through their client portal (which is very secure). The time it takes to withdraw the funds varies based on the chosen transaction mode and whether it is an international or domestic transfer.

How Do I Check My MT5 Balance?

All account-related information can be accessed in the 'Terminal' or 'Toolbox' window at the bottom of your MetaTrader5 screen. The terminal contains three tabs to open to check your account balance.

In the Trade tab, you can see your account balance, free margin, margin, equity and any pending orders or open positions in your account.

Traders keep this tab open at any time as it displays most of the vital information needed for their ongoing trades. All the digits there are refreshed in real-time.

Why Do I Need A MT5 Forex Broker?

First and foremost, a retail trader must have access to the market via an electronic trading platform. The primary trading instrument for a trader is a trading platform, as it enables a Forex broker to look up current quotes. A trader can also analyse market situations through such platforms. Traders can open trades and send orders to buy or sell currencies at a current price.

However, you cannot access Forex's trading terminal without a Forex broker. A broker normally buys an expensive license to be authorised to use a MetaTrader program. They also pay the fees for it every month. That is when they establish the connection to liquidity providers so they can transfer customers' trades to the open market. You cannot trade without a platform and the ECN capabilities a broker offers retail clients. Only brokers can offer access to currency buy/sell activities. While it is possible to trade without a broker, it is not recommended.

MT5 Broker Regulation

The MetaTrader5 platform is (in ideal situations) authorised by brokers before being provided to professional traders. It is among the most used trading systems for international CFDs and retail foreign exchange.

However, unregulated brokers also exist; it is best to be wary of that fact. Unregulated brokers are to be avoided completely. Unregulated brokers cannot guarantee the delivery of services in line with the protection of the client's funds.

For this reason, it is ideal to carefully choose your broker and be wary of their regulation status. Reputable brokers holding FINMA, FCA, or similar financial services authority licenses are set up according to international standards. They protect their clients every step of the way, even going so far as to compensate the trader if anything goes wrong with their firm.

MT5 Brokers Verdict

An online trading platform is one of the most vital forex trading tools. Even though it is true that traders can pick their platforms, the options, in reality, are limited by the broker they choose. Not all brokers offer automated trading systems.

MetaTrader5 is an excellent option for advanced and day traders with its cross-functional platform, vast trading tools, and good choice of tradable asset categories. MT5 is also chosen by individuals wanting to provide a broad range of brokerage services to customers without additional software.

We have conducted extensive research and analysis on over multiple data points on Best MT5 Brokers to present you with a comprehensive guide that can help you find the most suitable Best MT5 Brokers. Below we shortlist what we think are the best mt5 brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Best MT5 Brokers.