MT5 Brokers

MT5 is the newest version of the MetaTrader series, offering more features. Although fewer brokers support MT5 compared to MT4, it includes extra analysis tools that experienced traders will like. If you’ve decided to use MT5, you need to choose a reliable, well-regulated forex broker to start trading. In this guide, you’ll get to know everything about MetaTrader 5 brokers, and we’ll share the 5 best brokers for 2024. Keep reading to select a broker with tight spreads, low fees, and support for your chosen markets.

What is MT5?

MT5 is one of the most popular trading platforms used by people who trade forex. It’s made by a company called MetaQuotes Software Corporation. You can use it on your computer, on the internet, or on your phone. It was made to be better than MT4, which was also very popular. It has many new features and improvements. But still, a lot of people like using MT4.

With it, traders can choose how they want their trades to be made. Brokers pay to use MT5, and they can change it to fit their customers’ needs. This means that it might look different depending on which broker you use. It came out in 2010, but it hasn’t become as popular as MT4 yet. To get more people to use it, MetaQuotes decided to stop selling new licenses for MT4. More brokers are starting to offer MetaTrader 5, so more people are starting to use it.

How can you find a safe broker for MT5?

When you trade in the financial markets, your broker keeps your money in your account until you decide to make a trade. Then they carry out the trade for you. So, it’s crucial to pick an MT5 forex broker that a government financial body regulates.

Regulated brokers have to follow strict rules about handling data, executing trades, and managing your money. If they don’t follow these rules, they usually get fined or lose their license to operate. But not every financial regulator has the same high standards.

Top 5 Ranked MT5 Forex Brokers List

1. Vantage Markets

They’re a regulated provider of Contracts for Difference (CFDs), offering over 1,000 products like forex, indices, and commodities. Vantage Markets gives you different trading platforms to choose from, including MT4, Pro Trader, and a mobile app. They offer some of the lowest spreads on forex products, starting from 0.0 pips for EUR/USD pair with an ECN account, and from 0.5 pips for GBP/USD.

2. AvaTrade

Established in 2016, AvaTrade is a trusted MT5 broker. They offer low trading fees without any commissions, and forex spreads start from 0.9 pips. Besides forex, you can also trade options, stocks, indices, commodities, cryptocurrencies, and bonds. The minimum deposit required is $100, and they provide leverage of up to 1:400.

3. Pepperstone

This MT5 broker is well-known for supporting a wide range of markets, including forex, stocks, and commodities. You can choose between a commission-free or zero-spread account based on your trading strategy. Pepperstone doesn’t have a minimum deposit requirement. Alongside MT5, they also support the MT4 and cTrader platforms.

4. BlackBull Markets

Supporting over 26,000 tradable instruments, BlackBull Markets offers forex, stocks, commodities, cryptocurrencies, indices, and futures trading. Both the MT4 and MT5 platforms are supported. They provide commission-free accounts with spreads starting at 0.8 pips on major forex pairs. The prime account offers spreads from 0.1 pips, but with a $6 commission per traded lot.

5. FP Markets

Launched in 2005, FP Markets is regulated by multiple licensing bodies like ASIC and CySEC. They offer forex spreads as low as 0.0 pips with their raw account, although there’s a small commission of $3 per traded lot. Alternatively, they provide a commission-free account where fees are included in the spread.

What are MT5 Platform benefits?

This platform has many benefits. It’s like having everything you need in one place, with great tools for analyzing, a modern design, and the ability to open lots of charts and do advanced analysis. Infinox is a broker that uses MT5.

MetaTrader 5 Indicators & Add-ons

One cool thing about MetaTrader 5 is the wide range of indicators and add-ons you can get. These plugins are made to help you trade better. You can find all sorts of indicators in the MetaTrader MQL Market, so you’re not limited in what you can use.

MetaTrader 5 Expert Advisors & Copy Trading

The trading robots, or Expert Advisors (EAs), in MetaTrader 5 are really good. They can even copy trades for you, which is great for MetaTrader 5 and its advanced systems. Another powerful feature is algorithmic trading, which uses the next-gen MQL5 language. Just remember, it doesn’t work with MQL4 in MT4. Plus, MetaTrader 5 already has a VPN included to run robots all the time.

MT5 Backtesting

Testing your trading strategies is easier with MetaTrader 5. You can do it right on the platform, unlike MT4, which needs a VPS or to be done locally.

MT5 Broker Switching

Just like with MT4, you can change brokers using the MetaTrader 5 platform. This means you can keep your settings and layouts while using a different broker.

Conclusion

MT5 is a great platform for traders who are really good at trading, especially if they analyze charts a lot. It’s safe to trade on MetaTrader 5 if you use a good broker with it, because it is just a platform. We found the best brokers for MetaTrader 5, and Vantage Markets is the best one. Vantage Markets lets you trade lots of different things, like forex, commodities, cryptocurrencies, indices, and stocks. They don’t charge any extra fees for trading. Also, with Vantage Markets, you can practice trading for free with a demo account that gives you $100,000 to use.