The MetaTrader 5 (MT5) broker was created solely to give investors unmatched control over their trading activity. MT5 brokers are accessible to traders of CFDs, forex, shares, and futures, in contrast to the MT4 brokers, which is solely available to currency traders.
If you’re looking for an MT5 broker in the UK, we’ve selected the best brokers in our article. We have taken it upon ourselves to make the research process simpler for you because we are aware that it is difficult to pick one. We hope that this tutorial will help you launch your trading business.
Best MT5 Brokers 2022
Select the ideal broker to link the account to before starting an MT5 download. It can be difficult to choose the best broker because so many of them provide this trading software. The powerful charting and trading tools that MT4 and MT5 offer are another reason why many traders search for the best MT4 brokers.
The top broker for MetaTrader 5 has been recognized, and we’ve also analyzed some other excellent options. Information on fees, asset diversity, account kinds, and other topics is provided below for traders.
1. Libertex
Libertex is a CFD trading platform and minimal spread fx broker. There are more than 55 forex pairings that can be traded. These include major pairs, minor pairs, and exotic pairs. There is a spread involved in currency trading.
At Libertex, the spread, on the other hand, begins at 0.0 pips. One of the best features of this MT5 trading platform is that clients can trade using CFDs rather than acquiring ownership of the underlying asset.
If you’re not aware, this also entails wagering on the way the price of the underlying asset will move. This enables individuals to attempt to profit from both rising and declining markets.
There is a negligible commission that ranges from 0.03 percent to 0.5%, depending on the kind of account and trading volume. The maximum leverage (often referred to as a multiplier at Libertex) is 1:30 for ordinary traders and 1:500 for professional traders.
A large variety of analytical tools are available to traders, including technical indicators, completely customizable charts, and choices for automating portfolio construction. Libertex accepts a variety of payment options for funding trading accounts.
Deposits are free, however different payment methods have different withdrawal fees. MT5 can be downloaded by traders for Mac, Windows, iOS, and Google Play.
2. AvaTrade
One of the most secure MT5 brokers is AvaTrade. Strict compliance guidelines must be followed in all areas, including the management of client assets, the security of funds, and regular financial reporting.
The FSCA, FSA, ASIC, and other organizations regulate it. Customers that qualify may trade with leverage up to 1:400. As a result, the trader can increase their profits by 400 times if they are successful in speculating on a pair’s price movements.
Although high leverage brokers are fantastic, beginners should exercise caution because losses are amplified on losing trades. For clients in the UK, Australia, and Europe, the highest leverage is 1:30. At AvaTrade, there are more than 1,250 instruments available. This includes more than 60 different currency pairs.
Trading currency pairings entails no commission fees. There is now simply the spread to pay. For instance, at the moment of writing, the spread on the EUR/USD currency pair is 0.9 pips. In order to perfect their expertise, traders can also use a demo account.
Moreover, AvaTrade offers standard options. E-wallets, wire transfers, and credit/debit cards are all accepted deposit methods. However, as it varies by residency country, traders must examine the platform to determine which payment methods are offered. The initial down payment is $100.
3. Pepperstone
ASIC, the FCA, and the DFSA all regulate the MT5 broker Pepperstone. The raw spread is marked up by 1 pip in the regular Pepperstone account, and there is NO commission.
The EUR/USD standard spread begins at 0.6 pip. One of the top scalping trading brokers is this one. The Razor account at Pepperstone offers raw spreads starting at 0 pip. There will be a commission charge in this situation.
Users can trade on MT4 or MT5, as well as purchase and sell CFDs using automated EAs, on Pepperstone. A number of payment options are accepted by this broker, including bank transfers, credit/debit cards, and e-wallets like Skrill and PayPal.
Pepperstone recommends a $200 deposit, although traders are allowed to fund their accounts with any amount they like. Trading positions can be leveraged up to 1:500 depending on the location. The retail client limit is 1:30. At Pepperstone, there are more than 60 forex pairs for trading.
4. Forex.com
More than 80 currency pairs are available on Forex.com, which welcomes customers from all around the world. Notably, unlike many forex brokers, this company accepts US customers. But only on specific platforms. MT5 is unfortunately excluded from this.
Having said that, traders from the UK can open an account using the MT4 platform, which can be accessed on desktop, mobile, and tablet devices. Different order types and trading tools are available in MT4.
At Forex.com, eligible customers can engage in MetaTrader 5 trading and get enhanced charting with a selection of indicators, tools, and timeframes. The site claims that the usual spread on EUR/USD is under 0.2 pip.
Within its academy, Forex.com offers a wealth of educational courses and manuals in addition to real-time news. PayPal, credit/debit cards, and wire transfers are all accepted payment methods.
5. FP Markets
One of the top MT5 forex brokers for asset diversification is FP Markets. Through MT4 and MT5, FP Markets provides more than 10,000 CFD products. Standard and raw forex account types are available with MT5.
The account will determine the spread of currency pairs. For instance, the latter starts at 0 pips while the ordinary account allows spreads starting at 1.
Traders have access to over 60 forex pairs regardless of the account they select. Retail clients have access to leverage up to 1:30, and the minimum trade size is simply 0.01 lots. A free demo account is also offered.
Deposit options include credit/debit cards and bank transfers, and the account minimum is $100. Neteller, Skrill, FasaPay, STICPAY, and other e-wallets are available. For traders who want to open an account in their home currency, there are 10 fiat currencies that are accepted.
The multilingual and round-the-clock customer service staff at FP Markets is on hand. Contact methods involve web chat, email, and phone.
6. Oanda
A trustworthy forex broker with eight licensed marketplaces is Oanda. The CFTC, MFSA, FCA, ASIC, FSA, FSC, MAS, and IIROC all have jurisdiction over the platform.
This MT5 trading platform offers more than 70 different pairings for buying and selling. A built-in economic calendar is another feature that enables traders to always stay on top of the news.
The user only needs to log in or establish an account, making it simple to connect Oanda to MT5 directly through the platform.
Debit cards, ACH, and bank wire transfers are all acceptable deposit methods. There is a charge for wire transfers and bank transfers. The sum is determined by the location and currency of the trader.
The initial debit card deposit transaction is fee-free. After then, there is a fee. Once more, the sum is determined by the currency.
Two price ranges are available from the broker. Core pricing plus the spread comes first. This spread starts at 0.0 pips and has a $1 million dollar commission of $50. The spread-only model is the second.
7. HotForex
For a variety of factors, HotForex performs as the top MT5 broker for novices. First of all, it is one of the most reputable brokers in the world, so you should not be concerned about the security of your money. This is so that it complies with the strictest financial authorities’ rules, such as those of the UK’s Financial Conduct Authority (FCA).
The MT5 platform is quick and adaptable to any investor’s trading requirements. For the more straightforward market analysis, you will also get access to a wealth of research and educational resources, such as news feeds, webinars, and recorded films.
HotForex requires a £5 minimum deposit before you can begin trading. Additionally, it has some of the lowest trading fees in the sector, and the spreads start at just 0.1 pip. Consider HotForex if you want to trade on the margin because you may use leverage up to a maximum of 1:1000 there.
Additionally, it has a copy feature that you may utilize to interact with and mimic trades made by experienced investors. To see whether this broker’s offers match your investment needs, test it out with a risk-free sample account.
8. FXPro
More than 2,100 trading products are available at FXPro, and there are many types of accounts. All platforms provide trading in micro-lots of 0.01 or more.
The available leverage will vary depending on the trader’s country, the platform, and the item being bought or sold. The platform and account will both affect the spread that forex traders must pay.
For instance, the FXPro platform claims that MT5 accounts provide commission-free trading and mark-up spreads. On seven important currency pairs, the MT4 account offers set spreads.
This platform states that it can carry out trade orders in under 14 milliseconds. E-wallets like PayPal, Skrill, and Neteller are examples of supported deposit methods, depending on the trader’s place of residence.
Wire transfers and credit/debit cards are also accepted by FXPro. Notably, citizens of the US, Canada, and Iran are not eligible to purchase CFDs.
9. XM
Popular online broker XM has many different account kinds. A normal, micro, and XM zero account are included in this. The latter provides a spread with a zero-pip starting point.
Having said that, spread-free account commission fees should be considered because they are frequently determined by trading volume. At XM, there are more than 55 currency pairs and over 1,000 trading products.
Customers of XM have access to a demo account that is preloaded with $100,000 in virtual funds to trade with. There are many ways to deposit money, including local and wire transfers, credit/debit cards, and a variety of e-wallets.
At XM, the bare minimum deposit is a mere $5. ASIC, the FCA, and CySEC are just a few of the regulators that the platform is subject to. When choosing to register with XM, traders should watch out for special discounts. These are either provided periodically or by invitation only.
10. FXTM
FXTM, often known as ForexTime, is a 2011-founded international forex and CFD broker. Because it conforms with the regulatory standards of tier-one authorities, such as the UK’s Financial Conduct Authority, this Cyprus-based MetaTrader 5 broker is regarded as secure for your investing funds.
Trading commissions with this MT5 broker are moderately low. The more you raise your trading volume, the lower the commissions you will pay. Furthermore, there are no non-trading fees associated with deposits, and its financing charges for positions held overnight are very reasonable. Because of this, it’s a suitable choice for those with limited funds.
The sophisticated MetaTrader 5 platform from FXTM is simple to use and perfectly suited for all investors. On your smartphone, you may quickly download the app to keep track of your trades while on the road. The platform is also packed with a tonne of learning and research resources that will aid in the development of your tactics. Additionally responsive, it offers a variety of channels for customer assistance, including live chat, email, and phone.
How to begin with MT5 Brokers?
We’ve reviewed the top MT5 brokers available in this guide. An easy tutorial for setting up an account and placing an order is provided below.
Libertex is the finest broker for MT5. This tour will demonstrate how to trade there as a result. There are more than 50 trading pairs available, with spreads beginning at 0.0 pips.
Step 1: Sign up
Click “Sign Up” on the Libertex website, then enter your email address and password.
To create an account, click “Continue.”
The brokerage must also completely confirm the trader’s identification within 15 days. Uploading a piece of ID will enable you to do this.
Step 2: Deposit funds
Depositing money is essential before trading.
At Libertex, the minimal deposit is $100.
E-wallets like Neteller, Skrill, and Jeton are examples of payment mechanisms. Additionally, bank wire transfers and credit/debit cards are accepted by this MT5 broker.
Once you’ve entered all the essential details, including the desired amount, click “Deposit” to confirm.
Step 3: Find the Asset
Enter the asset in the search box.
Forex traders can enter any other pair, such as EUR/USD. You’ll see a list of pertinent markets.
the trader should next click the asset they want to buy or sell.
Step 4: Place an Order
The trader can then decide whether to place a buy or sell order.
To be clear, anyone who anticipates a gain in the asset’s value may place a buy order.
Anyone who anticipates a decline in its value may place a sell order in an effort to profit from the decline.
It’s crucial to enter the sum of money to devote to the deal after the purchase or sale has been decided. The order will be carried out by Libertex after confirmation.
Conclusion
The top MT5 brokers on the market have been examined and ranked in this guide. Overall, Libertex is the best platform to take into account. Depending on the account type selected, the broker offers a competitive spread that begins at 0 pip.
Most retail clients can use 1:30 of leverage, however, professional traders can get up to 1:600. Additionally, there are more than 55 FX pairs available for CFD trading. This implies that individuals can attempt to profit from markets they anticipate declining.
Frequently Asked Questions
Is MT5 available without a broker?
People must first open an account with a broker who supports MT5 in order to utilize it for trading. Libertex is the best choice for the majority of traders looking for reliable MT5 brokers in terms of costs, spreads, and supported trading tools, according to our research.
Which is the best MT5 broker?
The best broker for MT5 is Libertex. The spread for forex pairs is 0.0 pips, and the website is simple to use. The MT5 platform also supports a large number of approved payment methods and offers a wide variety of assets for trading as CFDs.
Is the MT5 trading platform reliable?
The MT5 trading platform is incredibly popular with people who want to access share and cryptocurrency CFDs as well as people who buy and sell currencies. There are a tonne of technical trading tools on the trading platform, including economic indicators. Additionally, there are robot accounts and copy trading programs.