Did you know that the MetaTrader 5 (MT5) trading platform is one of the most popular institutional multi-asset class trading platforms in the world? Having a fast, stable trading platform, along with the right broker can help traders navigate the world’s financial markets seamlessly.
Keep on reading to learn more about MetaTrader 5 brokers, the unique features and benefits provided by these MT5 brokers, and how you can get started with the MetaTrader 5 trading platform in just a few simple steps starting today!
In This Guide
While the MetaTrader 5 platform in itself is a very powerful addition to anyone’s trading arsenal, it is also important to make sure you choose one of the better MT5 brokers. The brokers using MetaTrader 5 will also provide access to a range of additional features which can help to supercharge your trading.
In the list below, you will find a few MT5 brokers that offer very interesting and unique features and additions that traders should consider. You can scroll further down this article to read a more in-depth review of these MetaTrader 5 brokers.
1. AvaTrade – Best MetaTrader 5 Broker Overall 2. Forex.com – Best MetaTrader 5 Broker for US Traders & DMA Trading 3. Pepperstone – Best MetaTrader 5 Broker for Fast Execution
67% of retail investor accounts lose money when trading CFDs with this provider.
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83% of retail investor accounts lose money when trading CFDs with this provider.
The MetaTrader 5 trading platform was launched in 2010 as a multi-asset class trading platform from a company called MetaQuotes. Since then, the platform has become the number one choice for brokers to offer their clients a fast, secure, and feature-rich trading experience.
As one of the world’s most popular trading platforms, users can trade across all asset classes, access the platform in more than 31 different languages, and use a variety of features such as inbuilt technical and fundamental analysis, copy trading services, automated trading, and more!
Here are just a few of the benefits and features of the MetaTrader 5 trading platform:
☑️ True multi-asset class experience with the ability to trade on stocks, indices, commodities, currencies, and more!
☑️ Access full Market Depth and a variety of advanced order types and accounting systems such as the traditional netting system and a hedging system option.
☑️ Open up to 100 charts of different instruments simultaneously while viewing 21 different timeframes.
☑️ Use more than 80 different technical indicators and analytical tools, while accessing fundamental analysis via a live news feed and an economic calendar.
☑️ Access trading signals and copy trading services. View the performance of other traders and copy their trades at the click of a button!
☑️ Trade on desktop, web, and mobile for full-featured trading wherever and whenever you are.
☑️ Access MetaTrader Market for more than 2,500 ready-made algorithmic trading applications including automated trading strategies and customised indicators.
☑️ Use the powerful MQL5 language for algorithmic trading and rent virtual private servers to run strategies 24 hours a day.
One of the best reasons to choose one of the best MT5 brokers from the list above is the fact they offer the MetaTrader 5 trading platform completely FREE to their clients. This makes a huge difference, as it means you can keep more of your trading profits while keeping your costs down.
However, MetaTrader 5 brokers all offer different services and features. Making sure you choose the best MetaTrader 5 broker can make a huge difference to your overall trading experience and performance. After all, you will be depositing and withdrawing funds with the broker and they’ll also be holding your personal details.
Choosing MT5 brokers that are trustworthy and offer clients security and safety of funds is key to having peace of mind when trading. With more and more brokers using MetaTrader 5 it also means there’s good competition among them so make sure one of your MT5 brokers offers competitive fees, outstanding customer service, and high-quality trade execution.
To help you in this journey, you will find an in-depth review of some of the best MT5 brokers for this year. Enjoy!
AvaTrade makes it to the top of the MT5 brokers’ list due to a variety of factors. Firstly, you can trade on more than 1,250+ global markets covering a wide variety of asset classes including stocks, bonds, commodities, indices, currencies, ETFs, and cryptocurrencies as well.
Furthermore, the broker provides client safety and investors protection as they are authorised and regulated by the Australian Securities and Investments Commission, the Central Bank of Ireland, the Financial Services Agency of Japan, and many others.
Traders are offered a variety of different types of trading accounts, covering all the different needs when trading global markets. For example, users can choose from CFD Trading Accounts, Options Trading Accounts, Spread Betting Trading Accounts, and Islamic Swap-Free Accounts. The broker also offers professional trading accounts with premium services and products.
With AvaTrade, traders can trade cryptocurrency CFDs 24 hours a day, 7 days a week while accessing customer support Monday to Friday in more than 14 different languages. This can be done via the online live chat feature, email, or telephone.
AvaTrade offers traders the full features and benefits of trading with MT5 brokers such as MetaTrader Market for customised technical indicators, programming services, and copy trading services. This is on top of a full suite of educational resources which includes articles and videos covering a wide variety of trading topics that helps to enhance your technical analysis.
AvaTrade is also an MT4 broker.
Forex.com provides traders with a high level of security, safety, and transparency. The broker is authorised and regulated by the Commodity Futures Trading Commission (CFTC), the UK Financial Conduct Authority (FCA), and the Financial Services Authority (FSA) of Japan. They are also a member of the National Futures Association (NFA).
When trading with Forex.com, traders can have peace of mind they are trading with a top-quality broker. One reason is that they are part of the StoneX Group which is a publicly listed company on the Nasdaq Stock Exchange.
Forex.com is classed as one of the world’s largest MetaTrader 5 Forex brokers and offers traders the Active Trader Rebate Program, as well as access to Direct Market Access (DMA) Trading accounts. This is where traders can trade on prices directly from global banks' top-tier liquidity providers with no markups!
When opening a DMA Trading account, traders can also earn 1% APY interest on the available margin up to a balance of $50k which is very unique in the industry. The broker also waives bank fees for these accounts and offers a priority service for customer support.
With Forex.com, traders can trade on more than 4,500+ financial markets covering commodities, indices, stocks, cryptocurrencies, and Foreign Exchange, all from the MetaTrader 5 trading platform. Users of this forex trading platform can access additional trading tools from the platform such as free VPS hosting services, copy trading, web and mobile solutions.
You can get started with one of the best MT5 brokers for US traders and DMA trading, Forex.com, by clicking on the following button and trading with a broker owned by a publicly-listed company on the Nasdaq Stock Exchange!
Pepperstone provides traders with the ability to access all the top features of MetaTrader 5 Forex brokers with commission-free and swap-free trading accounts. In fact, for serious traders, they also offer Razor accounts which have low commissions and ultra-low spreads from just 0 pips.
Of the brokers using MetaTrader 5, Pepperstone offers strong regulatory oversight as it is authorised and regulated by the UK Financial Conduct Authority, Cyprus Securities and Exchange Commission, and others! They offer strong safety of your funds by segregating them from company funds and holding them with tier one banks.
With Pepperstone, traders can access more than 180+ financial CFD instruments covering a variety of asset classes including Forex, indices, stocks, commodities, and cryptocurrencies. Furthermore, the broker prides itself on delivering ultra-fast execution of less than ~30ms. You can open a demo account with this online broker.
For serious traders, the broker provides access to institutional grade spreads as well as the ability to join the Active Trader Program where traders can receive rebates on individual trades.
As one of the top MetaTrader 5 Forex brokers, traders can access the full benefits and features of trading with brokers using MetaTrader 5 for charting. This includes access to Market Depth and MetaTrader Signals for copy trading. The broker even provides exclusive upgrades to the MetaTrader 5 trading platform through its Smart Trader Tools and Autochartist service.
While there are a lot of brokers using MetaTrader 5, finding the best MetaTrader 5 broker can be time-consuming and daunting at the same time. Below, you will find a list of all the key elements to look for when choosing one of the best MT5 brokers out there. Of course, our list above already satisfies these elements but it’s good for you to know!
Of all the brokers using MetaTrader 5, not all of them are authorised and regulated by a financial regulator. When choosing one of the best MT5 brokers to trade with, regulation needs to be at the top of the list.
After all, you will be depositing and withdrawing funds with them and they will be executing your trades. You want to make sure they are being watched over by a strong regulatory authority and abiding by strict standards and principles. MT5 brokers that are regulated and authorised by a well-known financial regulator can give you peace of mind.
Top financial regulators in the world include:
As trading the financial markets become more and more popular there are some MT5 brokers popping up that are not regulated so do your homework, or simply select one of the brokers from the above best MT5 brokers list!
One of the biggest benefits of trading the financial markets is that you now have access to global markets and many financial instruments. This is important to help with the diversification of your trading account. The MetaTrader 5 trading platform has been designed specifically for multi-asset class trading!
It’s worthwhile choosing a broker that provides you with a range of asset classes to trade on such as Forex, indices, commodities, stocks, ETFs, and so on. For example, with one of the best MT5 brokers listed above, AvaTrade, you can trade on more than 1,250+ markets, including 24/7 cryptocurrency CFD trading.
To view the asset classes available, you can open a free account with AvaTrade and download the MetaTrader 5 trading platform, as shown below in the Symbols window.
Click on the button to open a free account with AvaTrade and access all the features and benefits from the MetaTrader 5 trading platform and trade with a broker regulated in six different jurisdictions!
Your online broker’s trading fees are likely to have the most impact on your trading. Fortunately, regulated brokers will often list their fees on their website for transparency. The online retail trading boom has made brokerage fees much more competitive.
Typical trading fees may include commissions, spreads, and swap fees for overnight positions. There may also be account fees to take into consideration too such as inactivity fees and account administration fees.
In the example above, it shows AvaTrade’s spread for EURUSD is just 0.9 pips and GBPUSD just 1.6 pips. Some MT5 brokers may have smaller spreads but then there may also be a commission charged for entering and exiting the trade, whereas with AvaTrade it is commission-free. From this page, you can actually view all of the fees in a transparent manner.
To trade the financial markets successfully you need an edge. Having access to trading tools and live research can help to build that edge. Some MT5 brokers may offer research and analysis through a blog or through videos.
Fortunately, you can access a variety of tools directly from the MetaTrader 5 trading platform. This includes a live economic calendar so you can stay up to date with any major news announcements, as the screenshot shows below from one of the MT5 brokers, AvaTrade in the Toolbox window.
As MetaTrader 5 allows advanced traders to build strategies, trading systems, and customised indicators, some day trading platforms do offer a suite of trading plugins for the platform. For example, for the MT5 brokers listed above, AvaTrade and Pepperstone, traders are offered AutoChartist which is a plugin for MetaTrader that provides real-time, actionable trading ideas.
Open your free account today with AvaTrade to access a variety of different trading accounts and trading tools to trade on more than 1,250+ global markets including 24/7 cryptocurrency CFD trading!
A new trend that has taken the financial markets by storm is copy trading and algorithmic trading. Nowadays, through clever technology traders can simply copy the trades of others traders and run algorithmic-based trading strategies.
In fact, some of the best MetaTrader 5 brokers allow you to access the MetaTrader Signals service where you can view the performance of different traders and copy their trades onto your own account.
Better yet, with all of the best MT5 brokers listed above you can access the MetaTrader Market place where you can download automated trading strategies you can run on your account 24 hours a day! This can be accessed in the Toolbox section of MetaTrader 5, as shown in the example below from AvaTrade.
Choosing MT5 brokers with top-notch customer service is essential. If there are any issues, you want to know you can get a hold of them as quickly as possible. The MetaTrader 5 brokers listed above provide good quality customer service through a variety of mediums such as live chat, telephone, email, and social media.
Ok, so now you know a lot more about why the MetaTrader 5 trading platform is one of the world’s most popular platforms, let’s walk through how to open an account with one of the best forex brokers that offer MetaTrader 5 platform above.
You will see how simple the process is and how you can get started too. For this section, we will be using one of the best overall MetaTrader 5 brokers, AvaTrade.
Opening an account with AvaTrade is quick and simple. Click the Register button on the broker’s website to start the process.
After inputting your name, email, and telephone number you will need to fill out a questionnaire so the broker can know more about your financial information, history, and experience, as per regulatory requirements.
Nowadays, all brokers which are regulated are legally required to go through a verification process to verify your identity and address. Typically, you would need to provide two documents which include:
Verifying your account is a quick process and once it is done you can start to deposit and withdraw funds.
AvaTrade offers a variety of ways to deposit funds in your trading account. This includes bank wire transfer, Visa/Mastercard, PayPal, and e-wallets such as Neteller, Skrill, and Rapid Transfer. The minimum deposit with AvaTrade is just 100 USD.
In the AvaTrade client portal area, you can click Deposit to start the process, as shown below:
From the AvaTrade client portal area, you can open and manage your live trading accounts. In the screenshot below you can open a trading account for MetaTrader 5 and follow the download instructions to open your MetaTrader platform in under a few minutes.
Trading from the MetaTrader 5 platform couldn’t be simpler. Once you’ve chosen the market you want to trade on you can open a trading ticket by selecting the New Order icon at the top of the chart. This provides you with the ability to choose your entry, stop loss, take profit and volume. You can even run your trading robots if you have any!
With most MT5 brokers you can view your trades from the Toolbox section at the bottom of the trading platform. This includes any live open trades and a history of your closed trades.
While the MetaTrader 5 trading platform is one of the world’s most popular platforms, there is a huge disparity in the offering of MT5 brokers. You want to ensure you are trading with MetaTrader 5 brokers that adhere to all of the criteria listed above.
This includes looking at the MT5 brokers regulation and licences, the different asset classes available to you, the broker’s trading fees and additional services. Most MetaTrader 5 brokers will offer you additional features so make sure you take the opportunity to use them!
One of the simplest ways to get started is to simply use the list of the top three MT5 brokers above. The detailed review will ensure you choose the right broker for you. Of course, in parallel, you can get access to MetaTrader 4 platforms, and some of them offer cTrader platforms as well. For example, our best of the brokers using MetaTrader 5 is AvaTrade and you can get started with them in just a few minutes and at the click of a button to hundreds of several financial instruments!
You can open a free account today with AvaTrade to trade with a broker regulated in six different jurisdictions, access a variety of different trading accounts, and trade on more than 1,250+ markets including 24/7 cryptocurrency CFD trading. See for yourself by testing their MT5 platforms!
Alan is the Chief Editor of TradingPlatforms.com. He is an experienced finance and investment writer who is an expert on the stock market.
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