Top MetaTrader 5 Brokers

MetaTrader 5 (MT5) is the latest platform developed by MetaQuotes. It was created after the huge popularity the company gained from the MetaTrader 4 platform. While the MT4 was optimized for forex trading, MT5 was designed to accommodate more asset classes, making it the ideal multi-asset platform. It is an intuitive platform that suits the needs of traders that wish to enhance their trading experience with the help of powerful and effective features, trading tools, and resources.

Start trading with the Top MetaTrader 5 Brokers>>>

MetaTrader 5 is an institutional multi-asset platform that comes with advanced technical analysis tools as well as the opportunity to use trading robots and copy trading. The MT5 platform is perfect for trading forex, stocks, and futures. When using the MetaTrader 5 platform, users also get to enjoy the freedom and convenience of movement as the MT5 allows traders to stay active while trading from their smartphones and tablets. The Web Platform is compatible with virtually any web browser and any device. The additional features of the MT5 expand its functionality and make its capabilities almost limitless. The MT5 offers an in-built market of trading tools, copy trading, a freelance database of strategy developers, and a Virtual Hosting service (Forex VPS). All these services can be accessed from one place, boosting the trading convenience and opportunities for traders.

The exceptional features and advantages of the MetaTrader 5 platform are the reason why millions of traders around the world are using it.  The updated MT5 platform comes with subscription services that allow traders to subscribe to market data from hundreds of exchanges and trading platforms all over the world.

While the Web Platform is compatible with any browser, the software is also compatible with various operating systems like Windows XP, 7, 8, and 10. It also works on Mac Devices, with the exception of MacOS Catalina.


Fortrade Logo

Based in London, Belarus, Australia and Canada, Fortrade offers innovative platforms that are both technologically advanced and user-friendly. This MT5 broker houses over 250 financial assets, including stocks, forex, CFDs, indices, and commodities.

Start trading with the Top MetaTrader 5 Brokers>>>

Read the full Fortrade review here


  • MetaTrader 5 (MT5)
  • Web Fortrader
  • MetaTrader 4 (MT4) Desktop and Mobile
  • Fortrade app (iOS and Android)

FP Markets

FP Markets Logo

FP Markets is a trusted MetaTrader 5 broker that offers traders access to CFDs on various assets, including stocks, forex, commodities, and cryptocurrencies. They also offer tight spreads and fast order execution.

Read the full FP Markets review here


  • MetaTrader 5 (MT5),
  • MetaTrader (MT4)
  • WebTrader



Teletrade has been an industry leader for 25 years, providing forex and CFD trading services to over a million customers globally. TeleTrade is EU regulated and offers over 200 assets to trade as well as top customers service.

Read the full TeleTrade review here


  • MetaTrader 5 (MT5) (Mobile and Windows)
  • WebTrader
  • MetaTrader 4 (MT4)

IC Markets

IC Markets Logo

Teletrade has been an industry leader for 25 years, providing forex and CFD trading services to over a million customers globally. TeleTrade is EU regulated and offers over 200 assets to trade as well as top customers service.

Read the full IC Markets review here


  • MetaTrader 5 (MT5) (Web and Mobile)
  • MetaTrader 4 (MT4)
  • cTrader


everFX logo

EverFX is an international broker that provides access to more than 130 assets from six different asset classes. This broker provides services to both institutional and retail traders. It offers top trading tools and responsive customer support.

Read the full IC Markets review here


  • MetaTrader 5 (MT5)
  • MetaTrader 4 (MT4)
  • cTrader


Pepperstone logo

Based in Melbourne, Pepperstone is one of the best MetaTrader 5 brokers in the industry. It offers access to over 150 instruments, including Forex, indices, equities, commodities, cryptocurrencies, and CFDs.

Read the full Pepperstone review here


  • MetaTrader 5 (MT5)
  • MetaTrader 4 (MT4)
  • cTrader


AvaTrade Logo

Avatrade has been an innovative broker since it was established in 2006. It offers access to the financial markets to millions of customers, totaling over $60 billion in monthly trades. They also offer social and automated trading.

Read the full AvaTrade review here


  • MetaTrader 5 (MT5)
  • MetaTrader 4 (MT4)
  • AvaOptions
  • AvaTradeGO
  • WebTrader
  • Mobile apps

Arum Capital

Arum Capital Logo

This is a Cyprus-licensed and regulated broker that offers intuitive and innovative ways to trade forex and CFDs. Arum Capital offers direct access to a Market Depth, tick quotes, and more. They also offer a wealth of educational resources as well as professional customer support and service.

Read the full Arum Capital review here


  • MetaTrader 5 (MT5) (Windows, Mac, iOS, and Android)

How to Choose an MT5 Broker

There are a lot of MT5 brokers operating and offering their services. With a large number of companies available in this space, it becomes tough for traders to choose the best MetaTrader 5 brokers to partner with. However, here are a few criteria to keep in mind when choosing an MT5 broker for your trading services.

Is the Broker Trustworthy?

Brokers Dealing

A key component to choosing an MT5 broker is to look at its credibility and reputability. As a trader or investor, one of the first things to do is to protect your investments. You can start doing this by choosing the most trustworthy MetaTrader 5 broker. The leading MT5 brokers in the world are usually regulated. They usually have physical office addresses and are registered by regulators in their country of base and/or other countries. The MT5 brokers that are regulated by financial regulators are the most trustworthy since they comply with the regulatory requirements put in place for financial market service providers. As such, the regulated MetaTrader 5 brokers operate within the confines of the law, putting in place security measures to help protect their customer funds and their personal information. These brokers also segregate customer funds from that of the company to ensure that they do not use the clients’ money for administrative activities. Furthermore, regulated and trustworthy MT5 brokers are usually covered by insurance. This implies that customer funds are safe and can be easily retrieved in case something bad happens, such as a security breach or the broker closing shop. When choosing a broker, you should also look at the security measures put in place to protect their trading platforms from glitches and other security threats. The top MT5 brokers usually have excellent security protocols such as SSL certificates, 2-factor authentication, and more installed on their platforms. These measures help keep the platforms secure and transparent for traders to use.

How Much Will It Cost?

Cost Of MT5

The MetaTrader 5 platform is not as expensive as its predecessor, the MT4. Brokerage companies pay around $75,000 for 1,000 users and this runs up to $300,000 for 200,000 trader accounts. Since the brokerage platforms pay for the license to use MT5, you as the trader, will not be charged by MetaTrader itself. Usually, traders pay for the MT5 services they use via spreads, commissions, and other fees charged by the broker. While the MT5 is free to use on most broker sites, the exceptional resources, tools, and trading execution features on the platform make even more of an ideal choice for traders. When you use the MT5 platform, you will be granted access to market signals, copy trading services, virtual hosting services (VPS), instant trading alerts, technical and fundamental analysis, mobile trading, and automated trading. Thanks to these features and many more, both newbie and experienced traders have all the required resources to excel in forex and CFD trading.

How Is Trading Done on the MetaTrader 5 Platform?

meta trader broker

Executing orders on the MT5 platform is done by the trader or a third party. The first step is for the trader to access the MT5 platform via the broker’s site. The available currency pairs and other financial assets are displayed on the platform. Once the currency pair or asset is selected, proceed to Market Execution in the Order Type drop-down list. You will be required to enter the size of the position and select whether you are buying or selling the FX pair or asset. The MT5 platform goes ahead to execute the trade for you. For the Instant Execution Mode, the order is executed at a price offered to your broker. When the MT5 platform sends the price to the broker, and it is accepted, the order is executed. You can also select the Request Execution Mode, where the trade is executed at a certain target price. There are also Market Execution Mode and Exchange Execution Mode for executing orders for traders.

MT5 Key Features

  • Trading Signals:

    The MT5 platform allows traders to sign up for copy trading and other trading signal services. That is, expert traders offer trading signals to other traders or allow them to copy their trades. In this way, new traders can quickly learn how to effectively trade online as well as reduce the risks of loss while securing the rewards.

  • Expert Advisors (EAs):

    An EA is a predetermined algorithm. On the MQL5, traders are allowed to create an Expert Advisor or auto trading robot to carry out any function they desire. Traders can also use the EA’s from the ‘MetaTrader Market’ built-in app store and the ‘Code Base’ on the platform. With MT5, traders are not restricted from using the in-built analytical resources. The MQL5 coding is easier to understand that the MQL4, thus, traders can also create their trading robots or EAs.

  • Technical Indicators

    MT5 is an excellent platform that comes with 38 built-in technical indicators, all of which are beneficial to traders and their market analysis. Although most of the indicators are available on the MT4 platform, some of them are exclusive to the MT5 platform. Furthermore, the MT5 platform supports a wide range of custom indicators made available for traders to use. It is also easy and straightforward to develop a custom indicator for the MT5 platform.

  • Graphical Object:

    Graphical objects have become crucial for technical analysis. MT5 comes with roughly 44 graphical objects that are available for traders to use for determining chart patterns. Since chart patterns are essential tools for price action traders, the higher the graphical objects available, the more variation in the chart pattern that a trader is required to know.

  • Real Volume Data:

    When using the MT4 platform, traders are not able to see the real trading volumes like contracts and lots. They only get to see the tick volume data. Thanks to the MT5 platform, traders now have access to real volume-traded data.

So How Good is the MetaTrader 5?

Pros & Cons

Pros of the MetaTrader 5 Platform

  • Mobile Trading: MetaTrader 5 is available on Android and iOS devices, allowing people to trade on their smartphones or tablets while on the move.
  • MetaTrader Market: This trading platform comes with a built-in marketplace where users can purchase or rent a trading robot or a technical indicator, thus, making it easier to buy or rent the necessary software and robots to execute trades in a single place. The marketplace is filled with experienced freelance developers that offer EAs and technical indicators.
  • Trading Signals: Traders can subscribe to a successful trader and their trading signals, allowing them to open winning trades with ease. MT5 also supports copy trading, a process that allows you to copy the trades of successful traders, and the platform will automatically place the trades on your behalf.
  • Virtual Hosting: A trader using the MT5 platform can rent a virtual server to enable them to operate the trading robots and signal subscriptions 24/7. With the VPS, your trading robots and signals will always be available to traders on-demand.
  • Web Trading: Asides the PC and mobile apps, MT5 can be used on virtually any browser available in Windows, Mac OS X, or Linux. Thus, accessing the MT5 platform is possible via several various means and devices.
  • Variation in Timeframe: MT5 offers users the option of viewing their charts in various timeframes. The variation in time enables traders to view the market from different angles. MetaTrader 5 comes with 21 different timeframes, starting from a 1-minute chart to the 1-month chart. This is an upgrade to the MT4 platform that offers only nine different timeframes.
  • Built-in Technical Indicators: MT5 has 38 technical indicators integrated into its system. The advantage of this is that some of these technical indicators are exclusive to the MT5 platform, which means only users of the platform have access to such indicators. It is also easy to create a custom indicator on the MT5 platform.

Cons of the MetaTrader 5 Platform

  • Advanced Tools: The MetaTrader 5 platform might not be the best for novice traders due to the advanced tools and features it offers. These tools and features are more suited for expert and seasoned traders who understand how to use them to gain maximum knowledge and information so as to take advantage of the many lucrative trading opportunities in the markets.
  • Paid Features: Accessing some of the features on the MT5 platform requires a trader to purchase them. This implies that in many cases, traders do not know the full extent of the performance of a feature unless it is bought.