Best MT5 Brokers
MetaTrader 5 or MT5 is the newest version of the conventional MetaTrader Forex trading platform and it’s also the first to use multifunctionality for Forex trading, futures, and stocks. Although it isn’t as popular as the previous MetaTrader 4 version, MetaTrader 5 is supported by a fast-growing number of online brokers, giving Forex traders an extensive trading platform to choose from.
| Broker | Info | Bonus | Open Account |
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Min Deposit: $200 Spread: from 0.1 Leverage: Up to 1 : 1000 Regulation: FCA (UK), CySEC (Cyprus), FSCA (South Africa), FSC (Mauritius) |
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Min Deposit: $100 Spread: 0.0 Leverage: 1:30 Regulation: CySEC, FCA, DFSA, FSCA |
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Min Deposit: $5 Spread: From 0 Pips Leverage: 888:1 “*This leverage does not apply to all the entities of XM group.” Regulation: ASIC, CySEC, IFSC |
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Min Deposit: $200 Spread: 5 Pips Leverage: 600:1 Regulation: Reg1|REg2 |
200% up to $5000 | Visit Broker |
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Min Deposit: $100 Spread: From 0.2 Pips Leverage: 500:1 Regulation: FSA (Saint Vincent and the Grenadines), CySEC |
50% bonus on each deposit | Visit Broker |
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Min Deposit: $10 Spread: From 0 Pips Leverage: 1:30 Regulation: CySEC, IFSC |
$140 to your account | Visit Broker |
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Min Deposit: $1 Spread: From 0 Pips Leverage: 1:30 Regulation: CySEC, FCA, SFSA |
35% of the account Deposit | Visit Broker |
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Min Deposit: $100 Spread: Starting 0 Pips Leverage: up to 400:1 Regulation: CFTC, FCA, NFA, FSA, ASIC, IIROC, SFC, CIMA, MAS |
20% welcome bonus | Visit Broker |
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Min Deposit: $1 Spread: floating, from 0 pips Leverage: 1:30 Regulation: FCA UK reference number 579202 |
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Min Deposit: $200 Spread: 0.3 pips Leverage: 30:1 Regulation: ASIC Australia, FCA UK, CYSEC, BaFIN, SCB, DFSA, CMA |
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In this comprehensive guide, we’ve handpicked and listed the best MT5 brokers to help choose the one that’s right for you!
1. Pepperstone
Pepperstone is a popular Australian ECN broker. It features two simple accounts, an ASIC regulation, and support for the MT5, including shares trading and hedging. Many orders are usually executed in under 50 milliseconds, making it perfect for scalpers as well as clients who run the MT5’s expert advisors.
As mentioned earlier, Pepperstone offers two simple accounts (a Standard Account and Razor Account), both with ECN execution and tight floating spreads. The average spread on the EUR/USD is 1.09 pips and 0.09 pips for the Standard Account and Razor Account respectively.
Pros and Cons
Pros
- Wide range of assets
- Great platform choice
- Tight spreads
- Well regulated
Cons
- Limited market analysis
2. XM
XM is a regulated market marker with a superb range of assets, fast order execution, wide account choice, and low minimum deposits on both MT5 and MT4 platforms. Algorithmic, scalping, and hedging are all allowed on MT5.
Generally, the MT5 demo account is funded with about $100,000 virtual balance and is usually aimed at Forex traders looking for more than just Forex. With 1000+ instruments available, you can access CFDs on energies, CFDs on precious metals, stock indices CFDs, and stock CFDs. Furthermore, the MT5 demo account features full EA functionality, hedging, and a market depth indicator.
Pros and Cons
Pros
- Fast withdrawals
- Wide range of assets
- Excellent education
- Well regulated
Cons
- Dealing desk
3. Exness
Exness is a renowned, FSCA regulated online broker offering very low-cost trading on the MT5 Standard Account and pretty low minimum deposits and tight spreads on its 3 MT5 Professional Accounts. The Standard Account only needs a minimum deposit of $1 but provides unlimited access to a wide range of Exness assets including indices and crypto trading.
The MT5 Professional Account requires a deposit of at least $500 but offers raw spreads, which can be as low as 0 pips, and a commission of $7. On the other hand, the MT5 Pro Account offers instant execution and doesn’t charge any commission.
Pros and Cons
Pros
- 24/7 customer support service
- Wide range of assets
- Tight spreads
- Well regulated
Cons
- Unavailable in Europe
- Limited education
4. FxPro
FxPro is a reputed FCA-regulated online broker, providing NDD execution on cTrader, MT4, and MT5 and its own web browser-based trading platforms. The MT5 account provides a $100 opening deposit combined with highly competitive spreads on precious metals, energies, indices, and over 70 Forex pairs. Nearly all trades are executed in under 10 milliseconds and only about 9% of the orders get a negative slippage. All these execution statistics are perfect for traders looking to take advantage of MT5’s algorithmic trading abilities across different assets.
FxPro’s MT5 Account offers no requites, variable spreads, market execution, and allows for partial fills for the orders that lack liquidity. Keep in mind that the MT5 account is usually commission-free with spreads that can at times go down to about 0.6 pips, although traders might find that the spread on EUR/USD is much closer to 1.2 pips.
Pros and Cons
Pros
- Tight spreads
- Great platform choice
- Well regulated
Cons
- Limited education
5. FP Markets
FP Markets is a popular ASIC-regulated online broker, providing very tight spreads on both MT5 accounts (RAW Account and a Standard commission-free Account). It also provides access to crypto pairs, indices, commodities, shares, and Forex. The minimum deposit on the two MT5 accounts is $100.
The MT5 Account at FP Markets permits automated trading, scalping, and hedging, and the online brokers ECN price model allows for quick execution utilizing its network of Equinix NYC servers and liquidity providers.
Relative to other online Forex brokers, the FP Markets invests in traders with a rich education section, dedicated account managers, and award-winning customer support service, including daily email updates of the most recent financial news affecting the currency markets.
Pros and Cons
Pros
- Great customer support
- Wide range of accounts
- Tight spreads
- Well regulated
Cons
- Expensive withdrawals