| Updated: August 21, 2025Courtesy of MetaQuotes, MetaTrader 5 (MT5) is arguably one of the best third-party trading platforms in the world. Despite suffering a slow uptake upon its launch, the platform saw an increased adoption in the following years and is currently supported by hundreds of retail brokers worldwide. To benefit from its full capabilities, traders must first register with a reliable MT5 broker and connect their accounts to the platform.
Fusion Markets74-89% of retail's CFD accounts lose money
FP Markets73.85% of retail investor accounts lose money
Eightcap59.57% of retail investor accounts lose money when trading CFDs with this provider.
BlackBull MarketsTrading leveraged products is risky
Pepperstone75.5% of retail investor accounts lose money
XM Group72.82% of retail investor accounts lose money
Libertex82% of retail investor accounts lose money
AvaTrade76% of retail investor accounts lose money
IC Markets70.64% of retail investor accounts lose money when trading CFDs with this provider.
ActivTrades75% of retail investor accounts lose moneyThe selection process can be cumbersome and time-consuming, even more so given the huge number of forex brokers working with MT5. To assist you in making the right choice, our research team identified the 11 most trusted brokers boasting full support for MetaTrader 5. Our final ranking is based on thorough research and hands-on analysis as we tested them all with live MT5 accounts. Without further ado, here are our top picks for the best MT5 brokers.
MetaTrader 5 Forex Brokers Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. FP Markets | 9,086 | 4.9 ⭐ |
| 2. Fusion Markets | 3,951 | 4.8 ⭐ |
| 3. IC Markets | 46,810 | 4.8 ⭐ |
| 4. AvaTrade | 10,618 | 4.7 ⭐ |
| 5. Pepperstone | 3,076 | 4.4 ⭐ |
| 6. Eightcap | 3,168 | 4.2 ⭐ |
| 7. Tickmill | 1,077 | 4.1 ⭐ |
| 8. Libertex | 9,552 | 3.9 ⭐ |
| 9. XM Group | 2,515 | 3.8 ⭐ |
Comprehensive Comparison of MetaTrader 5 Forex Brokers
| MetaTrader 5 Forex Broker | Forex Maximum Leverage | Min Deposit | Trust Pilot Rating | Regulators |
|---|---|---|---|---|
| 1. AvaTrade | 1:30 (1:400 for Pro and Non-EU Accounts) | $100 | 4.7 ⭐ | FFAJ (License No.1574), CySEC (No. 347/17), ISA (No. 514666577), IIROC, ADGM / FSRA (No.190018), CBI (No.C53877), BVIFSC (No. SIBA/L/13/1049), FSCA(No.45984), ASIC (No.406684), JFSA (No. 1662) |
| 2. Tickmill | 1:30(1:500 for Pro EU Accounts)1:1000 (Non-EU Accounts) | $100 | 4.1 ⭐ | CySEC (No. 278/15), FCA (733772), CONSOB (No.4310), BaFin (No.146511), ACPR (No.75473), CNVM (No.4082), FSA Seychelles (SD 008), FSCA (FSP 49464), DFSA (F007663) |
| 3. Pepperstone | 1:30 (Retail ASIC, CySEC, FCA); 1:500 (Professional); 1:400 (CMA) | $0 | 4.4 ⭐ | ASIC (No. 414530), UK FCA (No.684312), CySEC (No. 388/20), BaFin (No.151148), DFSA (F004356), CMA (128), SCB Bahamas (SIA-F217), FSA (SD108) |
| 4. Eightcap | 1:30 (ASIC, CySEC)1:500 (FSA) | $100 | 4.2 ⭐ | SCB (No. SIA-F220), ASIC (No.391441), CySEC (No. 246/14), FCA (No. 921296), SCA |
| 5. Fusion Markets | 1:30 for ASIC Entity (1:500 for VFSC Entity) | $0 | 4.8 ⭐ | ASIC, FSA (Seychelles), VFSC (Vanuatu) |
| 6. Libertex | 1:30 (EU)1:1000 (Non-EU) | $10 | 3.9 ⭐ | CySEC (CIF Licence number 164/12), BaFin (BaFin ID: 10161686 / Bak No.: 161686), SVGFSA (No. 1278), FSCM |
| 7. XM Group | 1:30 for CySEC and ASIC Entities (1:1000 for Other Jurisdictions) | $5 | 3.8 ⭐ | CySEC (license no. 120/10), (ASIC) (ref. no. 443670), FSC Belize (license no. 000261/27), FSC of Mauritius (GB23202700), FSA Seychelles (SD190), DFSA (ref. no. F003484), FSCA (49976), Registrations for EU passporting: - BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA (Finland), KNF, AFM, FI |
| 8. IC Markets | 1:30 (European and Australian Retail Accounts); 1:500 (Pro); 1:1000 (FSA Clients) | $200 | 4.8 ⭐ | FSA (Seychelles), CySEC (Cyprus), ASIC (Australia), SCB (Bahamas), CMA (Kenya) |
| 9. FP Markets | 1:30 (Retail)1:500 (Professional) | $50 (AU$100) | 4.9 ⭐ | ASIC, CySEC, FSA (Seychelles), FSCA, FSA (St. Vincent and the Grenadines), SCB (Bahamas) |
Top 11 Brokers Supporting MetaTrader 5
The 11 brokers listed below excel at providing a seamless trading experience via MetaTrader 5. We based our ranking on several criteria, including regulatory compliance, number of tradable instruments, available account types, and overall trading costs. The availability of additional plugins like Autochartist was also taken into account as such add-ons greatly enhance the efficiency of the MT5 software.
Fusion Markets is a leading MT5 broker thanks to its low trading costs, robust product portfolio of over 250 tradable markets, and unwavering focus on customer satisfaction. We can readily recommend this broker to traders from Down Under as Fusion Markets is fully compliant with ASIC requirements. The company serves international customers with a Vanuatu license, allowing for higher retail leverage ratios of up to 1:500.
Clients of Fusion Markets can trade multiple assets at a low cost via MT5, MT4, cTrader, or TradingView. MT5 users, in particular, will benefit from state-of-the-art order management and charting tools that can significantly improve their trading performance. Fusion Markets also gives them the option to subscribe for MT5 forex VPS hosting services to keep abreast of the global currency markets at all times.
Gleneagle Asset Management Limited (ABN 29 103 162 278) trading as Fusion Markets, is the issuer of the Fusion Markets Products described in this communication. Trading in Fusion Markets Products involves the potential for profit as well as the risk of loss which may vastly exceed the amount of your initial deposit and is not suitable for all investors. You should read all of these Financial Product Service Terms, the Product Disclosure Statement (PDS) and the Financial Services Guide (available on our website) carefully, consider your own financial situation, needs and objectives for investing in these Fusion Markets Products and obtain independent financial advice.- 2. FP Markets
Traders insisting on a swift and reliable experience should consider joining FP Markets, a multi-regulated broker offering full support for the popular MetaTrader (MT5) platform. Linking your FP Markets account to MT5 comes with multiple benefits, starting with the ability to trade over 70 currency pairs, commodities, indices, and cryptocurrencies with competitive spreads from 0.0 pips. All in all, the broker advertises a portfolio that encompasses more than 10,000 financial markets.
Customers additionally have access to various technical indicators and 8 order types, including advanced options like Sell Stop and Buy Stop Limits. Fans of the platform can connect MT5 to their Standard accounts at FP Markets to take advantage of commission-free trading. Raw accounts with prices streamed directly from the broker’s liquidity providers are available as well but trades incur a $3 commission each way.
FP Markets is renowned for its award-winning order execution whose average speed is under 40 milliseconds. New customers can get into the game with initial deposits as small as $50 or $100, as the minimum initial capital requirements vary based on country. Testing MT5 without depositing is possible via a free demo account, allowing newcomers to get a proper feel of both the platform and the trading experience at FP Markets.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.92% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 3. Eightcap
Eightcap is a highly sought-after MT5 broker as it offers over 800 markets for forex, commodities, shares, equity indices, and cryptocurrencies. The Melbourne-based company has won multiple awards for innovation and excellence over the years, including Best Forex/CFD Broker at the 2024 TradingView Broker Awards. It operates internationally with licenses from the CySEC, ASIC, SCB, and FCA, among others.
Like most industry-leading brokers, Eightcap enables customers to trade the global markets using the innovative MT5 platform. Technical analysts at Eightcap will benefit from MT5’s advanced charting package that enables them to accurately identify long-term trends and price movements. Additionally, there is a comprehensive economic calendar with over 600 aggregated statistics for the world’s largest economies. It is worth mentioning that platform availability depends on where you access the website from. For instance, TradingView is the only option for Eightcap customers based in the UK.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.09% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. With over 26,000 tradable symbols, including 70 currency pairs, there is no shortage of potentially lucrative trading opportunities at BlackBull Markets. The FMA and FSA-licensed broker offers competitive trading conditions, including spreads from 0.0 pips for institutional clients. Retail customers can trade forex with no commissions and spreads as low as 0.8 pips via ECN Standard accounts. In terms of supported trading platforms, besides MT5, the broker also offers TradingView, cTrader, MT4, MetaTrader Web Trader, BlackBull Copy Trader, and BlackBull Invest.
Lower spreads from 0.1 pips are available to clients with ECN Prime accounts, where a $3 commission applies when you enter or exit trades. The broker is renowned for its lightning-fast order execution, whose speed averages 20 milliseconds. BlackBull Markets derives prices directly from liquidity providers like Citibank, Goldman Sachs, and Barclays. Orders do not pass through an in-house dealing desk as the broker has adopted the electronic network communication (ECN) pricing model.
- 5. Pepperstone
Pepperstone is trusted by more than 750,000 customers from over 160 countries, and for good reason. The broker offers highly competitive conditions for trading currency pairs, commodities, crypto, indices, and stocks. The company has secured seals of approval from respected regulatory watchdogs like the FCA, CySEC, and ASIC, further adding to its spotless reputation.
Retail clients looking to trade via MT5 at Pepperstone can choose from Standard and Razor accounts. They will benefit from lightning-fast processing times with average speeds of 30 milliseconds, advanced customization features, and enhanced market analysis tools. Retail customers have access to the Figaro and Smart Trader Tools packages, which include additional expert advisors for better risk management and trade execution. Position hedging is also possible for MT5 users at Pepperstone. The broker also supports MT4, TradingView, and cTrader.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 6. XM Group
XM is also a solid choice for traders looking to leverage MT5’s advanced charting and analytical capabilities. The broker serves 15 million customers from over 190 countries with licenses from BaFin, AFM, CySEC, ASIC, and KNF. Traders at XM can invest in over a thousand instruments across seven asset classes, including forex, stocks, equity and thematic indices, hard and soft commodities.
The broker provides a choice from several platforms and, unsurprisingly, MT5 is also on the list. Customers who opt for this globally recognized software will benefit from one-click trading, multiple expert advisors for algorithmic trading, hedging, depth of market, and over 80 indicators for advanced technical analysis. The platform’s superior backtesting capabilities enable XM clients to test new strategies for multiple forex pairs at a time. As for the other available platform options, these include MT4 and XM’s proprietary software.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 7. AvaTrade
AvaTrade ranks high among the best MT5 brokers. It offers tight spreads, multilingual customer support, and a broad spectrum of over 1,200 tradable instruments, including forex, indices, stocks, crypto, commodities, and vanilla options. The broker has obtained licenses from multiple first-tier financial regulators, such as CySEC, ASIC, FCA, and FFAJ in Japan.
Customers of AvaTrade will benefit from the robust trading capabilities of MT5, which gives them access to a greater range of advanced order types, graphical objects, and analytical tools. The platform additionally facilitates algorithmic and copy trading at AvaTrade. Registered customers can install the downloadable version of MT5 or trade directly in their browsers on any Windows, Linux, or macOS device. The first iteration of the platform, MetaTrader 4, is also supported.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 8. Libertex
Libertex is a New York-based financial company offering excellent order processing, a transparent pricing structure, and an exhaustive list of markets tradable via the MT5 platform. Besides the MT5, the broker also supports the MT4 platform, and a native trading platform. The spotless regulatory track record of Libertex also contributes to its high rating. The broker operates with licenses from BaFin in Germany and CySEC in Cyprus.
New customers from the EU can register MT5 accounts in four base currencies (GBP, EUR, PLN, or CHF) to benefit from ultra-tight spreads, zero commissions, and algorithmic trading. The platform allows them to lock their positions to reduce market volatility and minimize potential losses. Mobile users can install native applications for MT5 on their iOS and Android devices.Customers have access to an economic calendar, news feeds, 12 timeframes designed specifically for scalpers, and algorithmic trading via Expert Advisors (EAs).
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 9. IC Markets
IC Markets is a perfect fit for discerning traders insisting on swift order processing, low pricing, market versatility, and timely customer support. The Sydney-based broker offers a standout inventory of over 2,250 tradable instruments, ranging from forex and commodities to bonds, indices, futures, and stocks. Several regulatory entities monitor the company for compliance, including CySEC, ASIC, and FCA.
New traders can register Raw Spread or Standard MT5 accounts. Customers will benefit from deep liquidity, low latency, and tight spreads from zero pips. Orders, including stop-loss orders, can be placed at any level in the absence of minimum order distance and a freeze level set at zero. The brokerage imposes no forex trading restrictions on MT5 users and facilitates different strategies, including scalping and hedging. Placing orders between the spread is also possible for MT5 traders at IC Markets.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 10. Axi
Founded in 2007 and headquartered in Australia, Axi is a globally recognized online trading broker, facilitating access to over 290 financial markets, including forex, commodities, cryptocurrencies, and indices. As soon as traders set up their accounts, they can pick from diverse options, including MT4 for PC, the MT4 trader, the MT4 for mobile devices, and the Axi Trading Platform app.
As of now, the MetaTrader 5 platform is not available across all jurisdictions where the broker operates. At the time of publication, using MT5 is an option for customers registered under the offshore entity, incorporated in Saint Vincent and the Grenadines. Clients from Europe can only use MT4 for the time being but hopefully this will soon change. To get further information on platform availability in your region, get in touch with Axi’s customer support or stay tuned to their official corporate communications.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. - 11. ActivTrades
As a global leader in forex trading, ActivTrades provides a range of robust platforms designed to meet the needs of traders at every experience level. One of them, MetaTrader 5, the successor of MetaTrader 4, offers world-class performance across desktop and mobile devices. MT5 Web, the browser-based version, requires no download.
Besides 54 currency pairs, the platform facilitates trading CFDs on shares, crypto, indices, and other instruments. Similar to the proprietary ActivTrader and the MT4, trading in mini and micro lots is possible. Automated trading is available on both MT5 and MT4. Some of the MT5 features worth mentioning include 8 order types, 21 timeframes, and 3 chart types.
As for the account types, traders willing to use the MT5 platform can register an individual or a Demo account. Opening a Pro account is also an option for customers who satisfy the requirements for upgrading to professional status. Last but not least, qualifying traders can switch to swap-free accounts.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What Is MetaTrader 5?
MetaQuotes introduced MT5 in 2010 as the worthy successor of the massively popular MetaTrader 4. This next-generation platform comes with numerous upgrades and supports multiple asset classes, although market availability varies from one broker to another. MT5 is available via downloadable and web-based desktop terminals. Mobile traders can download free MT5 applications for iOS and Android.
Below you can find our video tutorial explaining how to use MetaTrader 5, recorded by Christopher Lewis, a prominent Forex trader and analyst.
Main Reasons to Use MetaTrader 5
MetaTrader 5 would never have gained broad adoption had it not been for the multiple advantages it offers. Here are some of the main benefits this state-of-the-art software offers to discerning traders.
- MetaTrader 5 easily beats rival platforms in terms of availability as literally hundreds of online brokers support it.
- MT5 users can improve their performance with 38 built-in technical indicators, 21 timeframes, and 46 graphical objects.
- The platform facilitates multiple trading styles and strategies, including hedging, scalping, and netting.
- MT5 delivers superior speed of order execution and has lower latency than its predecessor.
- MT5 users will benefit from a multi-threaded strategy tester for improved 64-bit backtesting and performance.
- The number of financial instruments MT5 users can plot charts for is unlimited compared to 1,024 symbols in MT4.
- MetaQuotes added an economic calendar to MT5, allowing traders to browse major upcoming events with a significant impact on market prices.
- The Depth of Market feature gives short-term traders access to the most accurate prices in highly liquid markets like forex.
- MT5 includes built-in support for copy trading and signal services, making it easier for users to follow and replicate the trades of successful professionals.
| Platform | MT5 | cTrader | MT4 | TradingView |
|---|---|---|---|---|
| Supported Trading Assets | Forex, CFDs, Metals, Energy, Crypto, Bonds, Futures, Stocks, Indices, Options | Forex, Stocks, Indices, Commodities, ETFs, Crypto | Forex, CFDs (Forex, Crypto, Metals, Energies, Bonds, Indices, Shares) | Forex, Metals, Indices, Energy, Soft Commodities, Crypto, Stocks |
| Chart Types | Bar Chart, Candlesticks Chart, Line Chart | Bar Chart, Candlesticks Chart, Line Chart, Dots Chart, Heikin Ashi Chart, HLC Chart, Renko Chart, Range Chart | Bar Charts, Candlestick Charts, Line Charts | Bars, Candles, Hollow Candles, Volume Candles, Line, Line With Markets, Step Line, Area, HLC Area, Baseline, Columns, High-low, Time Price Opportunity, Heikin Ashi, Renko, Line Break, Kagi, Point and Figure, Range |
| Order Types | Market Orders, Pending Orders (Buy Stop, Buy Limit, Sell Stop, Sell Limit, Buy Stop Limit, Sell Stop Limit), Take Profit, Stop Loss | Market Orders, Limits Orders, Stop Orders, Stop Limit Orders, Buy Limit, Buy Stop, Buy Stop Limit, Sell Limit, Sell Stop, Sell Stop Limit | Market Orders, Pending Orders (Buy Limit, Buy Stop, Sell Limit, Sell Stop), Stop Loss, Take Profit | Limit Orders, Stop Orders, Market Orders, Stop-Limit Orders |
| Programming Language | MetaQuotes Language 5 (MQL5) | C# | MetaQuotes Language 4 (MQL4) | Pine Script™ |
| Direct Deposit/Withdrawal Option | Yes | Yes | No | No |
| Backtesting Feature | Strategy Tester | Backtesting Plugins | Strategy Tester | Manual, Automatic |
| Automated Trading Instruments | Algorithmic Trading | cTrader Automate (cTrader Algo) | Expert Advisors | Not directly, possible via Webhooks |
| Platform Pricing Options | Free | Free | Free | Retail Traders – Essential, Plus, and Premium; Professional Traders – Expert, Elite, and Ultimate |
How to Connect Your Broker Account to MetaTrader 5?
New users must register for MT5 before they can start using the platform. The registration process is relatively straightforward, and some brokers provide a unique account ID or login credentials via email after account creation, which must be used to connect MT5 properly. There are two ways to access your newly created account. Signing in with your “master” password gives you full access to your trading account while using your “investor” password only enables you to examine bid-ask prices and use expert advisors (EA) without the capability of executing trades.
After completing the MT5 registration process, users must open the “file” menu and navigate to the “log-in to trade account” submenu. The next step involves typing in the number and password of your broker account. You must also select the appropriate server to log in from, either a demo or live account.
Once logged in, the platform may take a few moments to synchronize account data and download historical price charts, ensuring a seamless trading experience. It is crucial to save your login credentials securely and avoid sharing your “master” password with others to prevent unauthorized access.
Costs Associated with Using MetaTrader 5
Downloading and using MetaTrader 5 is entirely free as partnering brokers typically build the trading costs into their bid-ask spreads. Depending on the asset classes they trade, MT5 users may also be eligible for commissions, as is usually the case with stock positions. With this in mind, certain features and add-ons incorporated into the platform require paid subscriptions. Copy trading is one example as users must pay small commissions to the strategy providers they follow.
Does MetaTrader 5 Support Forex Backtesting?
MT5 facilitates superior forex backtesting compared to its predecessor, thanks to its multi-threaded strategy tester. This allows for significantly faster and more efficient trading strategy optimization. The testing process involves multiple computing agents installed on your device as background services, allowing MT5 to leverage all your available computer power. Users can test multiple symbols incorporated into a single strategy without adding them manually each time.
The software automatically runs each strategy multiple times using different parameters, helping traders to identify the optimal settings for performance, risk, and reliability. Combined, these features make MT5 a robust tool for traders looking to gain a competitive edge.
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