MetaTrader 5 is the new version of one of the best-known trading software in the industry: MetaTrader 4. The new version includes all the features that made its predecessor gain popularity, such as alerts, technical indicators, various types of graphics, trading robots, and more.
This platform incorporates new functions such as more precise simulations, new technical indicators, improvements in robot and indicator development, and more. All these features have made MetaTrader 5 become one of the favorite platforms of Forex traders around the world.
Below is a list of the best Forex and CFD brokers that offer the Metatrader 5 platform to their clients.
List of Metatrader 5 Brokers
| Broker | Regulation | Broker Type | Trading Instruments | Trading conditions | Minimum Deposit | Broker Review |
|---|---|---|---|---|---|---|
XM | CySEC | Market Maker/STP/NDD | -Forex -Commodities -CFD | Spreads: From 0.2 pips Leverage: 1:888 | $5 | Review |
RoboForex | CySEC | ECN/STP | -Forex -Commodities -CFD | Spreads: From 0.5 pips Leverage: 1:1000 | $10 | Review |
BlackBull Markets | FSRP | ECN/STP | -Forex -Commodities -CFD | Spreads: From 0.2 pips Leverage: 1:500 | $200 | Review |
ICMarkets | ASIC | ECN/STP | -Forex -Commodities -CFD | Spreads: From 0.1 pips Leverage: 1:500 | $200 | Review |
Alpari | - | ECN/STP | -Forex -Commodities -CFD | Spreads: From 0.0 pips Leverage: 1:1000 | $10 | Review |
Admiral Markets | FCA, ASIC, CySEC | ECN/STP | -Forex -Commodities -CFD -Stocks | Spreads: From 0.0 pips Leverage: 1:500 | $1 | Review |
Pepperstone | ASIC | ECN/STP | -Forex -Commodities -CFD | Spreads: From 0.1 pips Leverage: 1:500 | $200 | Review |
ForexTime | CySEC IFSC | Market Maker/ECN | -Forex -Commodities -CFD | Spreads: From 0.1 pips Leverage: 1:1000 | $5 | Review |
HYCM | FCA CySEC | Market Maker | -Forex -Commodities -CFD | Spreads: From 2.0 pips Leverage: 1:200 | $250 | Review |
FPMarkets | ASIC | ECN/STP | -Forex -Commodities -CFD -Stocks | Spreads: From 0.0 pips Leverage: 1:500 | $200 | Review |
ThinkMarkets | ASIC and FCA | ECN/STP | -Forex -Commodities -CFD | Spreads: From 0.5 pips Leverage: 1:500 | $200 | Review |
Valutrades | -FCA | ECN/STP | -Forex -Commodities -CFD | Spreads: From 0.0 pips Leverage: 1:500 | $50 | Review |
HotForex | - | ECN/STP | -Forex -Commodities -CFD | Spreads: From 0.2 pips Leverage: 1:1000 | $5 | Review |
FXOpen | FCA ASIC | ECN/STP | -Forex -Commodities -CFD | Spreads: From 0.5 pips Leverage: 1:500 | $1 | Review |
FBS | CySEC IFSC | ECN/STP | -Forex -Commodities -CFD | Spreads: From 0.5 pips Leverage: 1:1000 | $1 | Review |
EasyMarkets | CySEC ASIC | Market Maker | -Forex -Commodities -CFD -Forex options | Spreads: From 1.0 pips Leverage: 1:400 | $250 | Review |
Forex4you | - | NDD/STP | -Forex -Commodities -CFD | Spreads: From 0.5 pips Leverage: 1:500 | $10 | Review |
What are the best brokers with Metatrader 5?
Metatrader 5 is the new version of MetaTrader, the most popular trading platform worldwide. Its attractive interface, its flexibility, its analysis tools, and its ease of use are some of the main characteristics responsible for its good valuation by traders. This trading platform includes many technical analysis tools and has been developed by the company MetaQuotes Software Corporation. Online brokers usually offer MetaTrader 5 to their customers for free.
The previous version of this trading platform (MetaTrader 4), is still widely used and continues to be the most popular version of the Metatrader platforms (MetaTrader 4 is still the leading trading platform for retail Forex trading) but more and more online brokers are starting to offer MetaTrader 5 as a trading platform, due to the advantages that we present below.
MetaTrader 5 is more powerful and has more tools than its previous version (MetaTrader 4). However, one of the main drawbacks to the growth and popularity of MetaTrader 5 is that its programming language MQL5 (MetaQuotes Language 5) is not compatible with MQL4 (that is, the programming language of MetaTrader 4). Therefore, many indicators, scripts, expert advisors, and other trading tools programmed on MQL4, cannot be used with the MQL5 language. For this reason, MetaTrader 4 files cannot be transferred to MetaTrader 5, and users who have experience with the previous version do not have the possibility to easily transfer the customization of their trades and configuration of their systems to this new version.
Consequently, and for practical purposes, we can consider that MetaTrader 5 is not a version that follows MetaTrader 4, but rather a new and independent trading platform because it is not based on the same programming language and both trading platforms are not compatible with each other.
Despite this, MetaTrader 5 offers significant improvements over the previous version and this fact causes its number of users to increase day by day:
- Price charts are more functional and configurable to the needs of each trader.
- A friendlier interface.
- New trading tools
- It has an integrated economic calendar.
- It is compatible with a large number of markets and financial instruments to find greater trading opportunities.
- It offers a greater number of time periods to visualize price charts (timeframes).
- It is possible to execute and manage buy and sell orders in a simple and intuitive way.
One of the most important advances of MetaTrader 5 is in MetaEditor 5, a tool that allows us to generate our own Expert Advisors (EAs), through a simple and easy-to-use programming system. In this way, traders can have their EA ready to operate in a short time. In addition, the tool to subject trading systems to backtesting tests has also been significantly improved. This tool is designed to perform advanced performance tests on historical data tests with Expert Advisors, for the purpose of automatic trading and to test the behavior of trading systems.
After having tested and analyzed numerous online brokers, the ones shown in the table above are the ones we consider most recommended and that offer Metatrader 5 as an investment platform.
It is worth mentioning that you can open a demo account in MetaTrader 5 to see if it fits your needs.