For this list, we have searched and tested several forex brokers offering trading on MT5 trading platform.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best MT5 forex brokers based on our trading data and experience as a trader.

What is MetaTrader 5?

MetaTrader 5 or MT5 is an electronic trading platform developed by MetaQuotes Software. The platform was launched in 2010 and is the successor of the widely popular MetaTrader 4 (MT4) platform.

The aesthetics of the MT5 is almost the same as the predecessor, but it comes with a ton of new features. MT5 brings all the features of MT4 and adds a lot more.

MT4 vs MT5

While MT4 only supported forex and CFDs trading, MT5 extended this support to futures and stocks as well. MT5 also adds market depth, providing a better understanding of quotes and transaction volumes.

MT5 supports 6 order types (a couple more than MT4) and has a wide set of analytical tools and indicators. Traders can also download additional indicators from the library.

MT5 uses user-friendly MLQ5 language for the creation of trading scripts and robots. But, the biggest drawback of the MT5 is the lack of compatibility with the Expert Advisors of MT4.

Despite the functional superiority of MT5, the predecessor MT4 still dominates the forex and CFDs trading. MetaQuotes Software has now stopped issuing new MT4 licenses and is pushing for the adoption of MT5.

Key features of MT5 trading platform:

📈Trading InstrumentsForex, CFDs, Futures, Stocks
⏱Timeframes21
🛃Pending Orders6 Types (Buy Stop, Buy Limit, Sell Limit, Sell Stop, Stop Limit, Sell-Stop Limit)
📊HedgingHedging and Netting
🔎Technical Analysis Tool38
📑Market DepthYes
💷Economic CalendarYes
💰Order Execution Type4
📊Graphical Objects44
📈Strategy TesterMulti-Threaded
💰Fund Transfer Between AccountsYes
👨‍💻Programming LanguageMLQ5

Best MT5 Forex Brokers

To select the best MT5 forex brokers, we tested and reviewed several forex brokers. We opened live accounts and depositing real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • FP Markets – Best Overall MT5 Broker
  • Go Markets – Best MT5 Broker for Beginners
  • Swissquote – Best MT5 High Leverage Forex Broker
  • FXTM – Best MT5 Forex Trading Platform
  • ActivTrades – Best MT5 Broker with Low Spread and Fees

Best Overall MT5 Broker

We have picked FP Markets as the best overall MT5 broker.

FP Markets is headquartered in Australia and offers trading services with forex, indices, stocks, commodities, and cryptocurrencies. It offers a total of 9018 trading instruments and provides direct access to the stock exchange.

FP Markets is licensed in Cyprus, Australia, and St Vincent and the Grenadines and is a reputed broker. The broker charges less than average spreads, and other trading and non-trading fees are also on the lower side.

Apart from MT5, the broker also offers MT4 and IRESS trading platforms. It has a good collection of indicators and market research tools as well.

Best MT5 Broker for Beginners

We have picked Go Markets as the best MT5 broker for beginners.

Go Markets is another Australian forex and CFDs broker that is suitable for beginner traders for its wide range of learning resources. Its tutorials range from basic forex market guides to trading platform explainers.

Go Markets offer trading of forex, indices, metals, stocks, and commodities on both MetaTrader trading platforms: MT4 and MT5. It offers a total of 378 trading instruments with spreads lower than the industry average.

Best MT5 High Leverage Forex Broker

We have picked Swissquote as the best MT4 high leverage broker.

Swissquote is a FINMA regulated broker and offers high leverage of up to 100:1 on major currency pairs. Its offerings range from forex to stocks, options, and futures.

Swissquote offers trading on the MT5 platform and also on MT4. It equips traders with several key indicators and useful market analysis tools.

Best MT5 Forex Trading Platform

We have picked FXTM as the best MT5 forex trading platform.

FXTM is regulated in the UK, Cyprus, South Africa, and Mauritius. This broker offers 62 currency pairs with no limitations in trading strategies. Apart from forex, FXTM also offers trading with CFDs of indices, commodities, stocks, and cryptocurrencies.

FXTM offers trading on MT4 and MT5, along with its proprietary FXTM Trader. It is one of the best brokers for traders who want to trade forex and run strategies like scalping and use EA.

Best MT5 Broker with Low Spread and Fees

We have picked ActivTrades as the best MT5 broker with low spread and fees.

ActivTrades is a London-headquartered broker and offers very attractive spreads. According to our tests, the average spreads for EUR/USD pair on the broker is only 0.57 pips, which is less than half when compared with the industry average of 1.6 pips. And the lower than average spreads offering continues for other asset classes as well.

It also has minimum non-trading fees.

ActivTrades offers trading on MT4, MT5, and ActivTrader platforms. It offers one simple account type and traders can choose from any of the three trading platforms.

MT5 Forex Brokers List

Apart from the shortlisted brokers, here is a complete list of forex brokers that are well-regulated and offers trading on the MT5 platform, which we have tested and reviewed.

Forex BrokerMT4 PlatformMT5 PlatformTest DetailsBroker Review
FxProYesYes
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsYesYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsYesYesDeposit Amount: Over €4,000
Total Trade: 12 trades
Visit BlackBull Markets
GO MarketsYesYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTradesYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMYesYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM CapitalYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
TickmillYesYesDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Capital.comYesNoDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTBYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)YesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneYesYesDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFXYesYesDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsYesYesDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP MarketsYesYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeYesYesDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXYesYesDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXYesYesDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review

FAQ and More on MT5 Brokers

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to MT5 forex brokers.

MT5 Forex Broker in the US

All forex brokers should be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA). Unfortunately, none of the regulated forex brokers in the United States are offering trading on the MT5 platform.

Though many offshore forex brokers are offering services to US residents on the MT5 platform, we highly recommend traders not open accounts with such brokers.

MT5 Forex Broker in South Africa

Forex brokers in South Africa need to be registered and authorized by the Financial Sector Conduct Authority (FSCA). Some of the regulated South African forex brokers offering trading services on MT5 are:

  • FXPro
  • AvaTrade
  • ThinkMarkets
  • INFINOX
  • Tickmill

MT5 Forex Brokers

MT5 is slowly becoming a popular trading platform to trade forex. Apart from forex the platforms also support trading with CFDs, stocks, and futures. Some of the well-regulated forex brokers offering trading on MT5 are:

  • Pepperstone
  • IC Markets
  • Go Markets
  • FP Markets

MT5 Crypto Brokers

Traders can trade cryptocurrencies on the MT5 trading platform. However, it is to be noted that these are crypto CFDs, and the trader never owns the underlying crypto assets. Some of the crypto brokers offering trading on the MT5 platform are:

  • Dukascopy
  • ThinkMarkets
  • FP Markets

MT5 Forex Brokers with High Leverage

Leverage is a key in trading forex, but only a few good regulators are now allowing brokers to offer the high leverage. Two of these regulators offering high leverage are New Zealand’s FMA and Switzerland’s FINMA. Some of the high-leverage MT4 forex brokers are:

  • BlackBull Markets
  • Dukascopy
  • Swisquotes

Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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