In this article we will discuss the top MetaTrader 5 brokers and platforms. We consider a wide range of criteria in our studies, including pricing, safety, regulatory environment, and more. Keep reading to the end of the article, where we provide a list of resources to further understand MT5, if you still have questions. In addition, you may want to look at the best forex brokers we’ve listed.
In 2010, MT5, a new online trading platform, became available. It is very different from its predecessor, MetaTrader4. MT4 was only made for trading Forex and CFDs. With MT5, traders can trade a wider variety of assets. Brokers like PepperStone have to pay a license fee to use the platform to serve their clients. When a customer uses a broker, they can use specialized tools to learn about the market and place trades.
You can trade on the platform from the comfort of your own home using the desktop software or on the go using the Android or iOS mobile apps.
Best Trading Platform MetaTrader 5
A number of the best MT5 brokers on the market have been reviewed here. Different features of each broker have been analyzed, including their fees and commissions, research tools, and availability.
This is our selection of the best MetaTrader 5 Brokers
- AvaTrade – Best Metatrader 5 Broker Overall
- Pepperstone – Best Low Spread MT5 Broker
- FP Markets – Best Fast Execution MetaTrader 5 Broker
- Axim trade– Reliable Customer Service
- ActivTrades – Best MT5 Broker for Beginners
In 2006, the Irish company AvaTrade began offering an online trading platform. It is run by the Central Bank of Ireland. AvaTrade is still one of the most well-known retail brokers in the business.
AvaTrade has won a lot of awards for its great customer service and security.
Because this platform has so many users, it is a great place to use social trading methods. Traders have a lot of signal services to choose from. The platform lets people trade CFDs, Forex, and stocks.
PepperStone is a retail broker with offices in both the United Kingdom and Australia, making it subject to oversight from the CFA and the Australian Securities and Investments Commission, respectively.
PepperStone works with cTrader, MetaTrader 4, and MetaTrader 5. Trading platforms can be used on a desktop computer, online, or even on a mobile device.
The desktop software has a lot of market indicators that let you learn a lot about how the market is doing and what its trends are.
The ASIC has given FP Markets permission to trade in CFDs and Forex. For new accounts, there are ten base currencies to choose from. The method is easy, and the amount of money you need to start is small.
FP Markets has some of the lowest fees and commissions in the industry. FP Markets is different from other brokers because it doesn’t charge anything for accounts that aren’t being used. There are also no fees for making a withdrawal.
AximTrade follows all rules set out by the ASIC and the SVGFSA. AximTrade has become well-known around the world for its great customer service, innovative technology, and good trading terms. Four of the Global Forex Awards of 2021 went to AximTrade. Moreover, ORLEN 2022 is an official partner of the Alfa Romeo F1 Team. AximTrade is a simple platform for trading foreign exchange, stock indices, equities, cryptocurrencies, oil, and gold.
FxPro is a retail forex broker that is licensed all over the world. They are watched over by the Financial Conduct Authority (FCA) and a number of other well-known organizations. They trade Contracts for Difference and Forex pairs.
MetaTrader 4, MetaTrader 5, and two other platforms can be used with FxPro. It can be used in over 40 different languages, making it a truly global service.
Advanced traders will like how flexible and adaptable the platform is. Many useful pieces of information are buried deep in the platform, which can make it hard for new traders. A
Features and Benefits of MetaTrader5
Just like its predecessor, MT5 is programmed in a proprietary language that allows for the creation of scripts and tools. By tracking market sentiment and trends, these automated trading tools streamline the trading process. Traders who are fluent in object-oriented programming can create their own tools, use those made available for free on the platform, or purchase additional tools from a marketplace. There are over 6,000 available experts including Traders Union to help you. Programmers can monetize their tool development and distribution efforts.
Research and analytics
There are many different kinds of analysis tools available in MT5. The range of these extends from simple charts and graphs to complex technical indicators. Expert Advisors allow traders to tailor their market watching to their specific needs. In addition, users can export their data into a spreadsheet for further analysis.
The practice of copy trading has gained widespread acceptance over time. With MT5, traders can copy the actions of successful signal providers in an effort to increase their own trading profits.When a trader becomes a signal provider, other investors might duplicate their trades. Investors who subscribe to a signal provider receive a commission and other benefits.
Social trading, which incorporates elements of social networking with retail trade, is also encouraged on the platform. Users can network with one another and share useful trading advice.
How To Pick an MT5 Broker
- Online Security
These brokers have a track record of keeping the internet safe. When looking for a new broker, look for these qualities. Start by encrypting their data. Hackers can easily grab unencrypted data, log into your account, and wipe you out. Online hygiene is important for trading. Change your password often and keep your antivirus up to date. VPNs can also keep your online information safe.
Traders need to know what their broker’s rules are and how they affect those rules. Every country and economy has its own set of rules.
Broker laws and rules are set by financial authorities in different regulatory zones. Because of these rules, leverage, margin, and security will change. Some instruments can’t be traded at all. US traders cannot trade CFDs.
- Fees & Commissions
Brokers make money when traders open or close trades. A lot of brokers charge fees to keep a trade open overnight. If your broker charges you more in commissions, you’ll make less money on deals that go through. Traders may be willing to pay more in commission if a broker offers extra features or research tools. Most brokers also charge people who don’t trade very often. Brokers want you to trade often because that’s how they make money.
- Minimum Deposits
There are different minimum deposits for each broker. Users can open an account with a number of brokers for free. Traders with more experience are the ones who use ActivTrades and other brokers with higher minimum deposits. Even if your broker doesn’t have a minimum account size, you’ll still have to put money in your account before you can make a trade.
- Tradeable Securities
Traders trade securities. These things are “tools.” Forex, CFDs, stocks, commodities, cryptocurrency, etc. Every instrument’s performance is affected by how the market feels. Buying and selling stocks will show which strategies work best. Investing in stocks for a long time is common. Investors hold on for months or even years. Trading in CFDs is short-term.
Traders can use the learning tools that brokers offer. There are PowerPoint presentations, webinars, and courses among these.Not all traders need tools to help them learn. Some are for traders who are just starting out. Others go after traders with more experience. Traders with a lot of experience should look for brokers who offer learning materials. This is a big part of what you paid for, so make good use of it.
- Customer Support
Many traders worry about how good the customer service will be from their broker. Most brokers can only be reached from Monday to Friday, during office hours. Because brokers work in a lot of different time zones, it can be hard to get in touch with them. Professionals in the industry have praised some platforms, like AvaTrade, for having great customer service. Before choosing a broker, it’s a good idea to see what other users have to say about their support.
The risk is always there when dealing with MT5 forex brokers. No one can assure you of a hundred percent gain while trading foreign currency. It is possible to lose money even if you mimic the trades of a successful broker. Diversify your holdings, find a trustworthy broker, and take money out on a regular basis to increase your chances of trading success.