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Best Brokers That Offer MT5: Complete Comparison Guide
MetaTrader 5 (MT5) is the next-generation trading platform developed by MetaQuotes Software. It offers advanced charting, more timeframes, an integrated economic calendar, and superior order execution compared to MT4.
As a former Introducing Broker with 15 years in forex markets, I’ve tested dozens of MT5 brokers to identify the best regulated options for international traders.
Regulation: ASIC (Australia), CySEC (Cyprus) Founded: 2007 Minimum Deposit: $200 Spreads: From 0.0 pips (Raw Spread account) Max Leverage: 1:500
IC Markets is an Australian broker regulated by ASIC, known for extremely tight spreads and fast execution. The broker offers genuine ECN trading with direct market access.
Key Features:
True ECN broker with Tier-1 liquidity
Raw spreads from 0.0 pips plus $3.50 commission per side
Multiple account types (Standard, Raw Spread, cTrader)
Over 232 trading instruments
Award-winning customer support
Pros:
Highly competitive spreads
Strong regulation (ASIC)
Excellent for scalping and day trading
Fast execution speeds
No dealing desk intervention
Cons:
Higher minimum deposit than some competitors
Commission-based pricing on Raw accounts
Not available to US traders
Best For: Active traders, scalpers, and those seeking the tightest spreads
[Visit IC Markets]
2. Pepperstone
Regulation: ASIC (Australia), FCA (UK), CySEC (Cyprus) Founded: 2010 Minimum Deposit: $200 Spreads: From 0.0 pips (Razor account) Max Leverage: 1:500 (1:30 for EU clients)
Pepperstone is a multi-regulated broker with a strong reputation for transparency and competitive pricing. The broker offers both MT5 and cTrader platforms.
XM Group is ideal for beginners due to its extremely low minimum deposit and comprehensive educational resources. The broker serves over 10 million clients worldwide.
Key Features:
Ultra-low $5 minimum deposit
No deposit or withdrawal fees
1000+ instruments across 8 asset classes
Extensive educational materials and webinars
Multilingual customer support (24/5)
Pros:
Perfect for beginners (low entry barrier)
Strong regulation across multiple jurisdictions
Excellent educational resources
No commission on standard accounts
Daily market analysis
Cons:
Wider spreads on standard accounts compared to ECN brokers
High leverage can be risky for inexperienced traders
Some restrictions for EU clients
Best For: Beginners, small account traders, and those needing extensive education
[Visit XM Group]
4. Exness
Regulation: CySEC (Cyprus), FCA (UK), FSA (Seychelles) Founded: 2008 Minimum Deposit: $10 Spreads: From 0.3 pips (Standard account) Max Leverage: Unlimited (subject to margin requirements)
Exness is popular in the Middle East and Asia, offering unlimited leverage for qualifying accounts and instant withdrawals. The broker processes over 7 trillion USD in monthly trading volume.
Key Features:
Unlimited leverage available for experienced traders
Instant withdrawals (most payment methods)
Very low minimum deposit ($10)
Over 200 trading instruments
Multiple account types including Professional and Raw Spread
Pros:
Extremely high leverage options
Fast withdrawal processing
Low entry barrier
Good for high-volume traders
Strong presence in MENA region
Cons:
Unlimited leverage is high-risk
Spread-based accounts have wider spreads
Customer support can be slow during peak hours
Best For: Experienced traders seeking high leverage and fast withdrawals
[Visit Exness]
5. FP Markets
Regulation: ASIC (Australia), CySEC (Cyprus) Founded: 2005 Minimum Deposit: $100 Spreads: From 0.0 pips (Raw account) Max Leverage: 1:500
FP Markets is an Australian broker offering deep liquidity and competitive pricing. The broker provides access to over 10,000 trading instruments.
Key Features:
ASIC regulated with strong financial oversight
Raw spreads from 0.0 pips on ECN accounts
Access to 10,000+ instruments (forex, stocks, indices, commodities)
Both MT5 and MT4 platforms
Autochartist technical analysis tools included
Pros:
Excellent regulatory standing
Huge selection of instruments
Very competitive spreads
Professional trading tools
Good research and analysis
Cons:
Platform can be overwhelming for beginners
Limited educational resources compared to competitors
Higher minimum deposit than some alternatives
Best For: Intermediate to advanced traders wanting access to diverse markets
[Visit FP Markets]
6. Admiral Markets
Regulation: FCA (UK), ASIC (Australia), CySEC (Cyprus), EFSA (Estonia) Founded: 2001 Minimum Deposit: $100 Spreads: From 0.5 pips (Trade.MT5 account) Max Leverage: 1:500 (1:30 for EU retail clients)
Admiral Markets is a well-established European broker with strong regulatory oversight and comprehensive educational resources. The broker emphasizes trader education and risk management.
Key Features:
Multi-jurisdictional regulation across major markets
Tickmill is known for transparent pricing and institutional-grade liquidity. The broker won multiple awards for best execution and trading conditions.
Key Features:
FCA regulation (UK entity)
Institutional liquidity from top-tier banks
Raw spreads from 0.0 pips
Low commissions ($2 per side on Pro accounts)
Free VPS hosting for active traders
Pros:
Excellent execution quality
Very competitive pricing
Strong regulation
Transparent fee structure
Good for scalping strategies
Cons:
Limited educational resources
Fewer instruments than some competitors
Basic research offerings
Best For: Cost-conscious traders seeking excellent execution and tight spreads
[Visit Tickmill]
8. FXTM (ForexTime)
Regulation: CySEC (Cyprus), FCA (UK), FSCA (South Africa) Founded: 2011 Minimum Deposit: $10 Spreads: From 1.3 pips (Standard account) Max Leverage: 1:1000
FXTM offers diverse account types catering to different trading styles and experience levels. The broker is particularly popular in Africa and Asia.
Key Features:
- Multiple account types (Standard, Cent, ECN, Shares)
- Cent accounts for micro-lot trading
- Copy trading available (FXTM Invest)
- Strong educational program
- Multilingual support (16+ languages)
Pros:
- Variety of account options
- Low minimum deposit
- Good for beginners (Cent accounts)
- Copy trading platform
- Extensive language support
Cons:
- Wider spreads on standard accounts
- High leverage can be risky
- Platform execution can vary by account type
Best For: Beginners, copy traders, and those wanting diverse account options
[Visit FXTM]
9. RoboForex
Regulation: IFSC (Belize), FSC (BVI) Founded: 2009 Minimum Deposit: $10 Spreads: From 0.0 pips (ECN accounts) Max Leverage: 1:2000
RoboForex offers generous bonuses and promotions, making it popular with traders seeking deposit bonuses. The broker provides multiple platform options beyond MT5.
Key Features:
Very high leverage up to 1:2000
Regular bonus programs and promotions
Multiple platforms (MT5, MT4, cTrader, R Trader)
Over 12,000 trading instruments
Cryptocurrency deposit and withdrawal options
Pros:
Attractive bonus programs
Multiple platform choices
Very high leverage available
Crypto-friendly
Low minimum deposit
Cons:
Lower-tier regulation (IFSC)
Bonus terms can be complex
Withdrawal conditions for bonuses
Not suitable for US or EU traders
Best For: Traders seeking bonuses and high leverage (experienced traders only)
[Visit RoboForex]
10. OctaFX
Regulation: CySEC (Cyprus), FSA (St. Vincent) Founded: 2011 Minimum Deposit: $25 Spreads: From 0.4 pips Max Leverage: 1:500
OctaFX specializes in copy trading and social trading features. The broker is popular in Southeast Asia and offers commission-free trading on standard accounts.
Key Features:
Integrated copy trading platform
No commissions on standard accounts
Fast execution (0.1 second average)
Free educational resources
24/7 customer support
Pros:
Excellent copy trading functionality
No commission on most accounts
Good customer service
Active trading community
Regular trading contests
Cons:
Limited regulation compared to tier-1 brokers
Fewer instruments than larger brokers
Basic research and analysis tools
Best For: Copy traders and those
MT5 vs MT4: Key Differences
While MetaTrader 4 remains popular, MT5 offers significant improvements for serious traders:
MT5 Advantages:
Timeframes: MT5 offers 21 timeframes compared to MT4’s 9. This includes M2, M3, M4, M6, M10, M12, M20, H2, H3, H6, H8, and H12 options.
Order Types: MT5 supports 6 order types (Market, Limit, Stop, Stop Limit, Buy Stop Limit, Sell Stop Limit) versus MT4’s 4 types.
Economic Calendar: Integrated calendar showing upcoming economic events and their expected impact on markets.
Market Depth (Level II): Real-time view of market depth showing buy and sell orders at different price levels.
Hedging and Netting: MT5 supports both hedging (multiple positions on same pair) and netting (one position per pair) modes.
Multi-Asset Trading: Native support for stocks, futures, and options beyond just forex and CFDs.
MT4 Advantages:
Simplicity: Easier learning curve for absolute beginners.
Custom Indicators: Larger library of third-party indicators and Expert Advisors.
Broker Support: Still offered by more brokers worldwide (though this gap is closing).
The Verdict:
For active traders seeking advanced features, MT5 is the clear choice. The additional timeframes, order types, and integrated tools provide better trading capabilities. Most professional traders have already switched to MT5 or use both platforms.
How to Choose an MT5 Broker
Selecting the right MT5 broker requires evaluating several critical factors:
Regulation and Safety:
Check the broker’s regulatory status. Tier-1 regulators include:
ASIC (Australia) – https://asic.gov.au
FCA (United Kingdom) – https://www.fca.org.uk
CySEC (Cyprus) – https://www.cysec.gov.cy
Verify the broker’s license number on the regulator’s website. Regulated brokers must maintain segregated client accounts and carry professional indemnity insurance.
Trading Costs:
Compare both spreads and commissions. Some brokers offer zero spreads but charge higher commissions. Calculate the total cost per trade:
Spread-only accounts: Total cost = spread
Commission accounts: Total cost = spread + commission (both sides)
For active traders, commission-based accounts with raw spreads often provide better value.
Execution Quality:
Test execution speed during high-volatility periods (major news releases, market opens). Quality brokers maintain consistent execution even during volatile conditions.
Key execution factors:
Average execution speed (under 100ms is good)
Slippage frequency and amount
Requote frequency
Order rejection rate
Available Instruments:
Ensure the broker offers the assets you want to trade. Check:
Number of forex pairs (major, minor, exotic)
Indices availability
Commodities offered
Stock CFDs (if interested)
Cryptocurrency CFDs (if desired)
Account Requirements:
Match the broker’s requirements to your situation:
Minimum deposit fits your budget
Leverage options suit your risk tolerance
Account currency matches your base currency
Withdrawal methods work in your country
Customer Support:
Test support before opening an account:
Response time to inquiries
Knowledge level of support staff
Available contact methods (chat, email, phone)
Support hours (24/5 minimum for forex)
Frequently Asked Questions About MT5 Brokers
What is the difference between MT5 and MT4?
MT5 is the newer platform offering 21 timeframes (vs 9 in MT4), more order types, an integrated economic calendar, and native support for stocks and futures. MT5 also provides better backtesting capabilities and market depth information. However, MT4 has a larger library of third-party indicators.
Can US traders use MT5 brokers?
No. The brokers listed in this guide are not available to US residents due to CFTC regulations. US traders must use NFA-registered brokers, which typically offer limited MT5 availability.
Do all forex brokers offer MT5?
No. While MT5 adoption is growing, many brokers still only offer MT4. Some brokers offer both platforms, allowing traders to choose based on their needs.
Is MT5 better than MT4 for beginners?
MT5 offers more features, but this can be overwhelming for complete beginners. MT4’s simpler interface may be easier to learn initially. However, starting with MT5 means you won’t need to switch platforms later as you advance.
Can I use MT4 Expert Advisors on MT5?
No. MT4 EAs are coded in MQL4, while MT5 uses MQL5. The code is not compatible between platforms. You would need to find MT5-specific versions of any automated strategies.
Are MT5 brokers more expensive than MT4 brokers?
No. Trading costs depend on the broker’s business model, not the platform. Many brokers offer identical pricing on both MT4 and MT5 accounts.
How do I know if a broker is properly regulated?
Visit the regulator’s website and search their license register using the broker’s license number. Legitimate brokers display their license numbers prominently on their websites.
Conclusion
Choosing the right MT5 broker significantly impacts your trading success. The brokers reviewed in this guide all offer legitimate MT5 access with proper regulation and competitive trading conditions.
Quick Recommendations:
For raw spreads and professional trading: IC Markets or Pepperstone offer the tightest pricing with strong ASIC regulation.
For beginners with small accounts: XM Group provides a low $5 minimum deposit and extensive educational resources.
For high leverage trading: Exness offers unlimited leverage for experienced traders (use with extreme caution).
For European traders: Admiral Markets provides FCA regulation and excellent educational content.
Next Steps:
Before opening an account, verify the broker’s regulation on the official regulator website. Test their platform with a demo account to ensure the execution quality meets your standards. Start with the minimum deposit until you confirm the broker matches your trading style.
Remember that leverage magnifies both profits and losses. Even with the best MT5 broker, proper risk management remains essential for long-term trading success.
