Best MetaTrader 5 (MT5) Brokers

U.S. traders can look to FOREX.com and Trading.com as the best MetaTrader 5 brokers!

The MetaTrader platform suite, created by MetaQuotes, includes two popular trading platforms - MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are widely used by CFD and forex traders. The revolutionary MetaTrader 4 gave forex traders unprecedented control over trading strategies and timing.

MT5 has gained popularity in the forex broker industry due to its upgrades and improvements over the last decade. It is important to note that MT5, like MT4, is not a broker itself. If you decide to use MT5, you will still need to choose a reliable and regulated forex broker to begin trading. This guide will assist you in selecting the best MT5 forex broker, including MT5 brokers for US residents.

Quick Look: Best MT5 Brokers

• Best Overall for U.S. Traders: FOREX.com
• Best for $100 Welcome Bonus for U.S. Traders: Trading.com
• Best for Copy Trading: AvaTrade
• Best for Algorithmic Traders: FxPro
• Best for Multiple Platforms: Blackbull Markets
• Best for Mobile Use: XM

Get Started

Earn Cashback on Your FX Trades

Open an account in as little as 5 minutes. Spreads as low as 0.0, trade and manage your positions from a full suite of mobile and tablet apps.

Get Started

Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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.

Show More

Best Brokers That Feature MetaTrader 5

As of this writing, only FOREX.com and Trading.com supports MT5 in the United States. Plenty of support remains for MetaTrader 4, so American currency traders can experience the platform. If you want to trade stocks or options on MetaTrader, you’ll generally need to do so outside the United States. Still, plenty of quality brokerage options exist for international traders who wish to use MetaTrader 5. We've compiled this list of the best MetaTrader 5 brokers based on functionality, reputation, regulatory status, advanced tools and more.

1. Best Overall for U.S. Traders: FOREX.com

FOREX.com is one of the only forex brokers to provide MT 5 support for U.S. clients. They have an impressive group of pairs to trade and 3 different accounts to choose from. They support both MetaTrader 4 and MetaTrader 5, and are continually ranked the #1 forex broker in the U.S.

Why We Picked It: FOREX.com offers various promotions like 5% cashback on initial deposit and bonuses for VIP traders. Beginners will greatly benefit from the extensive educational resources and retail traders will love their low account balance and trade minimums. For the more experienced forex traders, there are multiple platforms of varying sophistication to choose from. And active traders earn discounts on high monthly volumes.

MT5 Features:

• Accelerate order execution with one-tap trading
• Access both MT4 and MT5 platforms
• 15 custom indicators, such as integrated Pivot Points, and an array of advanced charting tools
• Impressive, easy-to-navigate platform
• 9 EAs from FX Blue, including Sentiment Trader and an Alarm Manager
• Ability to type a market name, find it instantly without scrolling

2. Best for $100 Welcome Bonus for U.S. Traders: Trading.com

Trading.com is becoming a top choice for traders wanting a straightforward yet effective trading platform. Tailored for modern traders, it boasts a user-friendly interface that streamlines trade executions, especially for those who prioritize simplicity over complex features. What distinguishes Trading.com amidst the competitive broker landscape is its highly competitive spreads, ensuring cost efficiency for users.

Why We Picked It: Trading.com is a great option for beginners and they even offer a $100 welcome bonus for new traders. With their MT5 account you can backtest multiple currency pairs simultaneously using real price ticks, allowing for more accurate and comprehensive strategy testing. The platform's advanced order execution capabilities ensure fast and efficient trades, thanks to an order flow designed for netting and compliance with FIFO (First In, First Out) rules.

MT5 Features:

• Processing power has been significantly upgraded; MT5 now operates at 64 bits
• Smaller minimum trade size of 100 units
• Low spreads and no commissions charges
• Trade over 70 currency pairs including EUR/USD, USD/JPY and GBP/USD

3. Best for Copy Trading: AvaTrade

AvaTrade is a well-known MT5 broker that offers a wide range of trading instruments and advanced trading features. With AvaTrade, traders can trade various asset classes including forex, stocks, commodities, indices, and cryptocurrencies. Additionally, AvaTrade provides market analysis and an extensive range of educational content available at AvaTrade Academy. AvaTrade does not support U.S. based traders.

Why We Picked It: AvaTrade offers competitive spreads, leverage options, and a user-friendly interface to enhance the trading experience. Instruments are accessible on both MT4 and MT5, with copy and social trading solutions available through the AvaSocial app and DupliTrade.

MT5 Features:

• MT5 is available on Windows, Mac, web, iOS, and Android devices
• Access both MT4 and MT5 platforms
• Trade on over 1,250 financial instruments through MT5
• MT5 plugins include DupliTrade
• Advanced auto trading systems, technical tools and copy trading

4. Best for Algorithmic Traders: FxPro

FxPro offers traders access to the forex and contracts for difference (CFD) market where they can access hundreds of assets, including forex, metals, indices, shares and cryptocurrencies. You can use one of the 8 base currencies, and you will end up saving more money because there are no transaction fees, commissions or account fees. The only fee is the inactivity fee that kicks in after 6 months with no activity. FxPro does not support U.S. based traders.

Why We Picked It: FxPro offers multiple account options and various execution methods. The platform offers its own proprietary FxPro Edge app (available for mobile yet), alongside access to the BnkPro app. The MT5 platform also includes a strategy tester, which allows you to backtest and optimize your Expert Advisors using historical price data.

MT5 Features:

• Access to MT5 and MT4
• More than 2,100 instruments to choose from
• Algorithmic trading systems
• Ability to trade thousands of CFD instruments
• 38+ preinstalled technical indicators, 3 analytical charting tools, 44 chart types & 21 time-frames
• 1-click trading & trade from charts

5. Best for Multiple Platforms: Blackbull Markets

BlackBull Markets offers traders seven trading platforms to choose from including MetaTrader 4 and 5. And with 0.0 pips, 1:500 leverage, and an average execution speed of 20 ms, it’s easy to see why the platform is so popular. BlackBull Markets offers tools, resources, and education for beginner, intermediate, and advanced traders. BlackBull Markets does not support U.S. based traders.

Why We Picked It: BlackBull Markets' institutional trading conditions paired with MT5, offer impressive trading conditions. Access MT5 on desktop, web, or mobile app, and utilize its robust suite of technical analysis tools, fundamental data feeds, and Expert Advisor (EA) integrations.

MT5 Features:

• 26,000 tradable assets
• Access the MT5 platform with a $0 minimum deposit
• Excellent trading conditions with industry leading execution speeds

6. Best for Mobile Use: XM

XM is part of Trading Group, a U.K.-based firm regulated by the FCA. XM is the forex and CFD wing of the firm and it’s got unprecedented accessibility for MetaTrader users. Not only can MT4 and MT5 be used on any computer, but also any smartphone or tablet too. You’ll be able to trade from pretty much anywhere in the world with MT5 for iOS and Android. XM also gives you more than just a simple trading account. XM does not support U.S. based traders.

Why We Picked It: The XM MT5 platform builds upon the innovative features of the XM MT4. This makes it an excellent choice for those looking for a versatile multi-asset trading platform. With XM MT5, you can trade forex, CFDs on stocks, gold, oil, and equity indices—all from one convenient platform. The platform offers seamless trading with no rejections, no re-quotes, and leverage options of up to 1000:1, making it a robust and flexible choice for traders of all levels.

MT5 Features:

• Use one login to access 7 different platforms
• Spreads as low as 0 pips
• Complete support for Expert Advisors (EAs)
• One click trading for quick and efficient order execution
• All order types are supported
• Over 80 technical analysis tools and objects
• Access to the latest price quotes
• Hedging is allowed for flexible trading strategies

What is MetaTrader 5?

MetaTrader 5 is the most recent software release from MetaQuotes Software, the Russian firm behind the trading platform. Unlike its previous incarnation, MetaTrader 5 allowed equities and commodities to be traded alongside the usual forex components. Connection times improved and new indicator tools added. Sounds like a must-have program, right? Unfortunately, that’s not the case.

MetaTrader 4 and 5 might look similar, but they aren’t backward compatible. MetaTrader 5’s programming is written in an entirely different language. MetaTrader 4 software is written in MQL4, but MetaTrader 5 introduced the brand-new MQL5. MetaTrader 4 users have entire libraries of expert advisors (which are analytical and trading process automation tools) and other robots, and these became obsolete on the MetaTrader 5 platform.

Naturally, users didn’t want to rewrite or re-purchase robots that worked perfectly fine on the MetaTrader 4 platform.

MT5 Mobile App

The MT5 mobile app is a versatile trading tool that offers a range of features and functionalities for traders on the go. It is particularly suitable for monitoring portfolios and managing copy trading settings.

With the MT5 mobile app, users can easily check the status of their portfolios, track their investments and keep up with market movements in real-time. The app also allows for adjusting copy trading settings, making it convenient for those who wish to follow the strategies of successful traders.

While the MT5 mobile app supports most trading functions, its small screen size may limit in-depth analysis. Traders may find it challenging to conduct detailed technical analysis or perform complex charting on the app. However, for basic trading activities and quick portfolio monitoring, the app is highly efficient.

MT5 Desktop Platform

The MT5 desktop platform offers a range of impressive features and benefits that make it a vital tool for traders. One of the standout features of the MT5 desktop platform is its access to over 100 interactive charts. These charts are highly customizable and provide real-time data on various financial instruments, allowing traders to make informed decisions. Additionally, the platform offers numerous analytical tools to assist with market analysis and forecasting.

For technical analysis, the MT5 platform provides 21 available time frames, giving traders a wide range of options to analyze historical price data. This flexibility allows you to identify trends and patterns, aiding in the prediction of future price movements.

MT5 Web Platform

The MT5 web platform provides a convenient way to access trading and account management capabilities directly from the web browser, eliminating the need for software installation. This makes it highly accessible and flexible for traders on the go.

With the MT5 web platform, traders can perform basic trading activities such as placing market orders, setting stop-loss and take-profit levels, and viewing real-time charts. It also provides access to various technical analysis tools and indicators, allowing users to analyze the market and make informed trading decisions.

In addition to trading features, the MT5 web platform offers convenient account management functionality. Traders can view their account balance, transaction history, and manage funding options from the web platform. The MT5 web platform is compatible with different operating systems, including Windows, Mac, and Linux. 

MetaTrader 5 vs. MetaTrader 4

MetaTrader 4 is the dominant version of the trading software, but MetaTrader 5 does have some improvements and upgrades. Most prominently, the platform is no longer just for currency traders. MetaTrader 5 added two additional order types and is now open to stocks, bonds, futures, options and forex trading. Popular features like hedging, expert advisors and automated strategies can still be used.

Partial orders are now available on MetaTrader 5, along with the six different order types. Eight technical indicators and 13 graphical objects have also been added. MetaTrader 5 adds 12 extra timeframes, so research can be done more extensively than ever. The MQL5 community is available 24/5 on the new embedded chat feature and emails can now be sent with attachments.

There’s an economic calendar that shows important dates and data releases, but one of the biggest new perks in the ability to transfer funds between accounts. You can send money between your forex and stock trading accounts without logging off. Improvements and new features are plentiful on MetaTrader 5, but the lack of backward compatibility means MetaTrader 4 is still the primary platform. Stocks, options and futures trading is a big step and could open the door for more in the future.

For a deeper dive comparing these platforms, check out MetaTrader 4 vs. MetaTrader 5.

Why Brokers Offer MetaTrader 5

MetaQuotes Software has begun to nudge clients toward MetaTrader 5. The platform is technically superior to MetaTrader 4, but the best forex brokers are hesitant to purchase new licenses and traders don’t want to lose the programming language with which they’ve written so many robots. A tug-of-war is underway and MegaQuotes has increased the pressure.

Support for MetaTrader 4 was recently cut off and new brokers now must choose between MetaTrader 5 or nothing at all. In addition to MetaQuotes’ gentle pushing, equity brokers can now offer the software for stock exchange trading. Most MT 5 brokers offer a variety of different markets to trade in. Previously, only forex brokers used the platform.

Take Your FX Trades to the Next Level with the Best MT5 Brokers

MetaTrader 5 has enough improvements and new features to warrant a download, but the MetaTrader 4 community still fiercely defends its version. Most United States forex brokers support MT4 only, you can access the MT5 platform by singing up with FOREX.com or Trading.com. Brokers based in Europe and Australia aren’t as closed off and many support both MT4 and MT5. If you want to expand your trading into areas like equities and commodities, MetaTrader 5 is a great tool. Just make sure the broker you want to use actually supports it.

Frequently Asked Questions