7 Best MetaTrader 5 (MT5) Forex Brokers for 2025 |
Best MetaTrader 5 (MT5) Forex Brokers for 2025
Steven Hatzakis has been reviewing forex brokers for nearly ten years and has 25+ years of experience as a forex trader. His broker reviews are unbiased and independent, and his expertise is sought after for global FX conferences and speaking events around the world. Learn how we test.
I’ve been trading forex for more than 25 years and have spent over a decade working with the MetaTrader platform. My experience includes extensive use of both MetaTrader 4 (MT4) and its successor, MetaTrader 5 (MT5). This guide will help you explore some of MT5’s most important features and functions.
The platform’s upgrades and improvements over its predecessor, MT4, have pushed more of the best MetaTrader brokers to offer MT5. As a result, trading volume on MT5 has now eclipsed MT4 (as of April 2025). If you’ve decided that you want to use the MT5 platform (and there are good reasons for doing so), you’ll still need to pick a trustworthy, well-regulated forex broker to start trading.
| Company | Average Spread EUR/USD – Standard | Minimum Deposit | Overall Rating |
| IC Markets |
Best MetaTrader 5 (MT5) brokers
I’ve tested more than 60 of the biggest forex brokers in the industry (read more about how we test), and evaluated the top MetaTrader 5 offerings to produce my list of the best MT5 forex brokers:
4.5 Overall
Best MetaTrader broker overall
| Minimum Deposit | $200 |
| Trust Score | 84 |
| Tradeable Symbols (Total) | 3583 |
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders. Read full review
- Consistently excellent MetaTrader broker
- Great automated copy trading strategies
- Competitive pricing
- Research and education are limited
- Regulated primarily by one Tier-1 regulator (in Australia)
4.5 Overall
Excellent pricing, great for MetaTrader
| Minimum Deposit | $100 AUD |
| Trust Score | 89 |
| Tradeable Symbols (Total) | 10000 |
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option. Read full review
- Very competitive spreads
- Industry-leading pricing on MetaTrader
- Room for improvement in education
- Mobile trading app lacks features offered by industry leaders
4.5 Overall
Great for MetaTrader and copy trading
| Minimum Deposit | $0 |
| Trust Score | 95 |
| Tradeable Symbols (Total) | 1726 |
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms. Read full review
- Large selection of third-party copy trading platforms
- Competitive pricing for active traders using Razor accounts
- Selection of markets trails industry leaders
- No interactive courses, progress tracking or educational quizzes
5.0 Overall
Great for educational content
| Minimum Deposit | $100 |
| Trust Score | 99 |
| Tradeable Symbols (Total) | 5500 |
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader. Read full review
- Multiple high-quality platforms
- Excellent market research
- Wide range of markets
- Only about 600 instruments are available on the MT5 platform, compared to over 4,500 on non-MetaTrader platforms
4.0 Overall
Good range of account options
| Minimum Deposit | $10 info |
| Trust Score | 81 |
| Tradeable Symbols (Total) | 227 |
Exness is a MetaTrader-only broker regulated in the EU offering multiple account types and forex pairs, but its offering lacks the range of CFDs forex brokers typically offer. Read full review
- Multiple account types and execution methods
- Offers MetaTrader 5
- Limited in-house research
- Lack of CFD offers outside of forex and metals
4.5 Overall
Great for MetaTrader and algo trading
| Minimum Deposit | $100 |
| Trust Score | 93 |
| Tradeable Symbols (Total) | 2249 |
FxPro competes among the top MetaTrader brokers, featuring multiple account options and various execution methods. It provides its own proprietary FxPro Edge app – though it isn’t yet available for mobile – alongside access to the BnkPro app (which isn’t yet available in all regions). Read full review
- Robust platform offerings
- Clean execution of large orders
- Pricing trails industry leaders
- Proprietary platform can’t compete with the best
4.5 Overall
Numerous third-party MetaTrader add-ons and wide range of investments
| Minimum Deposit | $100 |
| Trust Score | 93 |
| Tradeable Symbols (Total) | 8702 |
Traders choose Admirals for its excellent investor education and advanced MetaTrader features – such as the Supreme add-ons – alongside an extensive range of shares, forex and CFD markets, and premium research content. Read full review
- Competitive pricing on the EUR/USD pair
- Outstanding educational content
- Wide selection of 8,425 tradeable symbols
- Narrower range of symbols for the Admiral Prime account (MT5)
- Admirals App is relatively unsophisticated
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Top picks for MetaTrader 5 brokers
Best overall forex broker for using MetaTrader 5 – IC Markets
| Company | Platforms & Tools | Average Spread EUR/USD – Standard | Active Trader or VIP Discounts | Forex Pairs (Total) |
| IC Markets |
IC Markets is my top choice for forex traders who are looking for the best MetaTrader 5 experience on the market. The third-party research and trading tool plugins available for MetaTrader at IC Markets helped the broker win the ForexBrokers.com 2025 Annual Award for #1 MetaTrader broker (it’s worth noting that IC Markets has won the top spot for MetaTrader 4 years in a row).
MetaTrader users at IC Markets will gain access to the Advanced Trading Tools package, which is a suite of platform add-ons developed by FX Blue. IC Markets also provides installable third-party plugins from Trading Central and Autochartist. Some of the attributes that make IC Markets a popular choice for MetaTrader also make it a great broker for other third-party trading platforms, like cTrader and TradingView.
Many traders at IC Markets take advantage of the broker’s competitive pricing and execution methods to run algo trading strategies. This is the primary reason the broker made the top spot for MetaTrader 5. Over the years, this has resulted in IC Markets having some of the highest global trading volumes among MetaTrader brokers. Learn more by checking out my IC Markets review.
Great low-cost option for MetaTrader 5 – FP Markets
| Company | Platforms & Tools | Average Spread EUR/USD – Standard | Active Trader or VIP Discounts | Forex Pairs (Total) |
| FP Markets |
FP Markets is a great low-cost option for forex and CFD traders that prefer to use the MetaTrader platform. Traders gain access to the full MetaTrader suite (both MT4 and MT5) as well as the popular cTrader platform. Ultra-competitive spreads are available on MetaTrader at FP Markets by way of its commission-based Raw ECN account.
FP Markets also offers support for Autochartist plugin integration as well as platform add-ons from FX Blue as part of its Trader Toolbox offering.
Overall, forex and CFD traders who want to use MT5 will appreciate the broker’s MetaTrader experience – FP Markets earned Best in Class honors for its MetaTrader offering for four years in a row in the ForexBrokers.com Annual Awards. It’s worth noting though that the scope of its research and educational offering are limited compared to the best brokers. Learn more by checking out my FP Markets review.
Plethora of third-party tools for MetaTrader 5 – Pepperstone
| Company | Platforms & Tools | Average Spread EUR/USD – Standard | Active Trader or VIP Discounts | Forex Pairs (Total) |
| Pepperstone |
Pepperstone offers a rich platform experience for MetaTrader enthusiasts. It also offers nearly every third-party platform available on the market, including cTrader and TradingView. Pepperstone won Best in Class honors for our MetaTrader in the ForexBrokers.com 2025 Annual Awards (extending a streak the broker has held onto for a stunning 8 years).
Pepperstone provides multiple platform add-ons that enhance the MetaTrader experience, including access to Autochartist, API trading, and a suite of Smart Trader Tools plugins available as an add-on for MetaTrader accounts.
The availability of both the MT4 and MT5 apps combined with its launch of a proprietary mobile app has helped inch Pepperstone closer to competing with brokers offering the best mobile trading apps, thanks to the modern design of these applications. Check out my Pepperstone review to learn more.
FAQs
What is MT5?
One of the most well-known retail forex trading platforms in the world, MetaTrader 5 (MT5) is part of a suite of trading applications developed by MetaQuotes Software Corporation for desktop, web, and mobile.
Designed as the successor to the wildly popular MT4 platform, MT5 features multiple upgrades and boasts some significant improvements to the MetaTrader software. Still, MT4 remains one of the most widely used retail forex trading platforms on the market. If you’d like to learn more about MetaTrader 4 and the MetaTrader software suite, check out my complete guide to MetaTrader.
Like previous MetaTrader platforms, MT5 supports multiple execution methods and is designed as a turnkey solution for brokers. Brokers pay a fee to license the MetaTrader software so that they can provide the platform to their clients. Brokers can customize the MT5 platform based on the range of markets they offer to best suit their individual client’s needs – which means that MT5 offerings can vary from broker to broker.
The MT5 platform was first introduced in 2010 and has been slow to gain adoption among traders when compared with MT4, its successful predecessor. To encourage the transfer of accounts to its newest platform, MetaQuotes recently announced its decision to discontinue the sale of new licenses for the MT4 platform and has been gradually reducing support. As more brokers have added MT5 to their platform offering over the years, it has slowly gained wider adoption across the brokerage industry.
smartphone MetaTrader on mobile devices
Android and iOS users can download MT5 for trading on the go. The MetaTrader apps (MT4 and MT5) were briefly delisted from the Apple App Store in September 2022, but MetaTrader is again available for iOS as of March 2023.
MetaTrader 5 Brokers List
We review and continuously monitor the offerings of over sixty different forex brokers. MetaTrader is just one of the numerous features that we test when reviewing a broker. Of the forex brokers that we review, here are the ones that offer MetaTrader 5:
About the MetaTrader 5 Product Suite
Like the MT4 platform, MT5 is available for desktop, web, and mobile. We’ve tested the MetaTrader 5 platform across devices, and we’ve detailed their strengths, weaknesses, similarities, and differences below:
MT5 mobile app
MT5’s popular Mobile Trading app is available for Android devices from the Google Play store, where it has been downloaded over 10 million times and holds a rating of 4.5/5. The Android version is supported on phones and tablets, and – like MT5’s web platform – MT5’s mobile app features 30 built-in indicators.
Note: MetaTrader 5 is available for download from the Apple App store and for Android on the Google Play store.
Take a behind-the-scenes look at the MT5 Mobile Trading app with our video walkthrough:
Bottom line: The MT5 app is light on features compared to the desktop platform, but it still offers more functionality and greater ease of use than the web version.
Some of the best mobile apps are developed in-house by the top forex brokers in the industry. Want to learn more about the wide range of available mobile apps? Read our guide to the best forex trading apps.
MT5 desktop platform
MT5’s desktop terminal is downloadable and designed for use with Windows-based computers. MT5 users gain access to more than 100 interactive charts that feature dozens of analytical tools, such as indicators and graphical objects. The 21 available time frames allow for in-depth technical analysis of currencies, exchange futures, stocks, cryptocurrencies, indices, and spot metals.
Check out our walkthrough of the MetaTrader 5 desktop platform:
Bottom line: If you are hoping to unlock the full potential of MT5’s powerful trading platform, the desktop version is the way to go.
Download MT5 for desktop on MetaTrader’s MT5 site.
MT5 web platform
MT5’s web-based platform can be accessed from any browser or operating system without the need to download any software. Instead, your broker provides a unique URL from which the service can be accessed with the trader’s login details.
The web version of MT5 recently underwent a massive makeover, which updated its charting capabilities and overall responsiveness to be more competitive with modern web platforms like TradingView. Check out my forex charting guide to learn why charts are so important for forex traders.
A popular trading platform that delivers a range of powerful charting functions and robust analysis tools, TradingView is used by millions of traders. Learn more by checking out our TradingView guide.
Note: You can’t manage trading robots or carry out advanced operations on MetaTrader 5’s web platform.
Check out our walkthrough of MT5’s web platform:
Bottom line: WebTrader is a lighter version of MT5’s desktop platform, and only offers the most basic features for carrying out trading and account management.
Start using MT5’s web platform by visiting MetaTrader’s MT5 web platform site.
tips_and_updates Pro tip:
Demo and live account options are available for all versions of MT5. It’s always a good idea to try out a free demo account to learn the software before risking your real money.
Comparing MT4 vs MT5
MT4 and MT5 may share the same developer (and the two platforms even look alike), but their coding is significantly different, and each platform has distinct functionalities and features. MT5 brings a number of changes to the MetaTrader platform that have bolstered the computational power of the MetaQuotes’ software suite. For example, MT5 runs in 64 bits to match the capabilities of modern processors, which means that it runs much faster and can handle billions more data points than MT4.
MT5 also features two new order types, advanced Strategy Tester settings, a new MQL programming language, and multiple design optimizations – among other additions and changes.
For a deeper dive into the differences between these two popular versions of the MetaTrader software, check out my MT4 vs MT5 guide.
Can I use MT5 without a broker?
No, you’ll need to open a live account with a broker that offers MetaTrader 5 (MT5) in order to trade with real funds. You can try MT5 out with a demo account, but you won’t be able to do any live trading – and if your demo account is not connected to a broker, you won’t have access to updated rates.
When choosing a forex broker that offers MT5, make sure that the broker offers the range of markets you are interested in trading, and that it can equip you with the trading tools you’ll need for your trading strategy. It’s also important to make sure your forex broker is highly regulated; this is the best way to protect yourself from forex scams.
We’ve evaluated dozens of forex brokers to determine whether you can trust them with your live trading funds – read more about Trust Score.
Which broker is best for MT5?
When comparing the best MetaTrader brokers across all categories, IC Markets stands out as our top pick for MT5 in 2025.
IC Markets also has some of the highest global trading volumes among MetaTrader brokers, as traders tend to run algorithmic trading systems at IC Markets due to its competitive pricing and execution methods available. The qualities that make IC Markets a great broker for MetaTrader also make it a fantastic broker for cTrader, another popular third-party platform. If you are interested in learning about algorithmic trading and automated high-frequency trading systems, check out our guide to high-frequency trading.
Is the MT5 platform free?
Yes, MT5 is totally free to download and use – though you should still be prepared to pay trading fees when you place live forex trades (these can vary from broker to broker). Brokers pay to license the MT5 trading platform directly from the developer, but retail traders are not charged any platform fees to use MT5. Traders will of course still be responsible for paying the standard trading fees incurred with any forex broker – such as commissions, spreads, and overnight carrying costs (premiums).
Should a beginner use MT4 or MT5?
Beginners may not notice any significant differences between MT4 and MT5. On the surface, they are similar in appearance and function, and MT5’s added features and advanced functionalities may not be hugely important for beginners. Before deciding on MT4 or MT5, it’s important for new traders to learn the basics of trading and to develop a keen understanding of how trading platforms work.
Beginner forex traders should start by consuming educational content (check out my guide to the best free forex trading courses for some suggestions) and experimenting with a demo account before trading with a live, fully funded account. Demo and live account options are available for all versions of MT5. However, with MT5 now leading in trading volume, traders and brokers are encouraged to consider switching to MT5 to take advantage of its advanced features and wider range of assets.
school Forex for beginners
Whether you choose MT4 or MT5, check out my popular guide to forex trading for beginners. Or, read my Forex 101 educational series that covers everything you’ll need to know about forex and currency trading, the ins and outs of leverage, how pips work, and more.
Is it safe to use MetaTrader?
Yes, the MetaTrader platform is safe to use. MetaTrader is a popular software suite for trading forex and CFDs – but it’s not a broker. This means that your level of safety when trading forex will depend on your forex broker, not on the MetaTrader software. Whether you use MT4 or MT5, you’ll want to make sure that your forex broker is well-capitalized and licensed by reputable regulatory agencies.
The ForexBrokers.com Trust Score algorithm provides an at-a-glance score of a broker’s reliability and trustworthiness – learn more about Trust Score and the regulatory agencies that we track.
Our testing
Why you should trust us
Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Click here to learn more about how we test.
How we tested
At ForexBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:
- For Apple, we use MacBook Pro laptops running macOS 15.3, and the iPhone XS running iOS 18.3.
- For Android, we use the Samsung Galaxy S20 and Samsung Galaxy S23 Ultra devices running Android OS 15.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser.
Our researchers thoroughly test a wide range of key features, such as the availability and quality of watch lists, mobile charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.
star_rate ForexBrokers.com Overall Rankings
Now that you’ve seen our picks for the best brokers on this guide, check out ForexBrokers.com’s overall broker rankings. We’ve evaluated over 60 forex brokers, using a testing methodology that’s based on 100+ data-driven variables and thousands of data points. Also take a look at our full-length, in-depth forex broker reviews.
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Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.
About the Editorial Team
Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
John Bringans is the Managing Editor at ForexBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.
Best MT5 Brokers of 2025
MetaTrader, a suite of trading platforms developed by MetaQuotes Software Corporation, has enjoyed enduring popularity with forex and CFD traders.
There are two key platforms in the MetaTrader suite: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Though MT4 has become the platform of choice for many forex traders across the globe, the MT5 platform has seen a surge of adoption in the past decade.
Whether you choose MT4 or MT5, you’ll need to choose a reliable, well-regulated forex broker to kickstart your trading journey. Our guide to MetaTrader 5 will make it easier for you to choose a highly regulated MT5 forex broker.
Best MetaTrader 5 (MT5) Brokers
We’ve conducted rigorous testing of over 60 of the top global forex brokers and their respective MT5 offerings (learn more about how we test brokers). Check out our picks for the best MetaTrader 5 brokers:
star 8.2/10 Overall
| Minimum Deposit | $200 |
| Tier-1 Licenses | 2 |
| Tradeable Symbols (Total) | 3583 |
IC Markets is a trusted broker with multiple Tier-1 regulatory licenses. Traders at IC Markets gain access to MetaTrader 4 and MetaTrader 5 as well as the Advanced Trading Tools package for desktop and support for third-party plugins from Autochartist and Trading Central. That said, the broker’s research and education have room to improve. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | No |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
star 8.4/10 Overall
| Minimum Deposit | $100 AUD |
| Tier-1 Licenses | 2 |
| Tradeable Symbols (Total) | 10000 |
FP Markets delivers excellent pricing and access to the full MetaTrader suite, as well as cTrader and its own copy trading platform. That being said, FP Markets’ pricing is not as low on its IRESS platform, which is optimized for share dealing. FP Markets fares well across most key categories, though its research and education have room to improve. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
star 8.5/10 Overall
| Minimum Deposit | $0 |
| Tier-1 Licenses | 3 |
| Tradeable Symbols (Total) | 1726 |
Pepperstone is a highly trusted broker that offers a growing number of tradeable markets and support for third-party platforms such as TradingView, cTrader, a variety of copy trading platforms, and the MetaTrader suite. Traders at Pepperstone also gain access to high-quality research content in both written and video format. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
star 9.5/10 Overall
| Minimum Deposit | $100 |
| Tier-1 Licenses | 7 |
| Tradeable Symbols (Total) | 5500 |
FOREX.com is a highly trusted brand with a long history of offering forex in the U.S. and across the globe. FOREX.com offers its own flagship trading platforms for web and desktop, as well as the full MetaTrader suite. Though its pricing is higher than average, FOREX.com is a balanced choice for traders of all experience levels. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
star 7.4/10 Overall
| Minimum Deposit | $10 info |
| Tier-1 Licenses | 2 |
| Tradeable Symbols (Total) | 227 |
Exness offers the full MetaTrader suite alongside its proprietary client portal Terminal and the Exness Social Trading app for copy trading. Exness delivers competitive spreads on its commission-based and Pro accounts, but its lack of significant regulatory licenses for retail traders weighs down its overall Trust Score. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
star 8.1/10 Overall
| Minimum Deposit | $100 |
| Tier-1 Licenses | 2 |
| Tradeable Symbols (Total) | 2249 |
FxPro is a trusted brand that delivers access to a wide range of trading platforms, including cTrader, the full MetaTrader platform suite, and its proprietary FxPro Edge and BnkPro apps. Algorithmic traders will appreciate FxPro’s execution methods and pricing options, but spreads and overall costs at FxPro are higher than average. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
star 8.5/10 Overall
| Minimum Deposit | $100 |
| Tier-1 Licenses | 4 |
| Tradeable Symbols (Total) | 8702 |
Admiral Markets is a highly trusted multi-asset broker regulated in multiple reputable jurisdictions. Admiral Markets delivers a powerful MetaTrader experience with advanced supplemental features. With numerous platform add-ons and tools, copy trading, premium market research, and excellent educational content, Admiral Markets is a good choice for forex traders. Read full review. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
star 8.1/10 Overall
| Minimum Deposit | $100 |
| Tier-1 Licenses | 2 |
| Tradeable Symbols (Total) | 725 |
Tickmill is an excellent multi-asset broker that offers truly low-cost forex trading; the broker’s Pro and VIP accounts are among the least expensive in the industry. Tickmill offers the MetaTrader suite as well as third-party services like TradingView and Signal Centre, powered by Acuity Trading. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | No |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
star 9.5/10 Overall
| Minimum Deposit | $0 |
| Tier-1 Licenses | 5 |
| Tradeable Symbols (Total) | 11925 |
CMC Markets is a highly trusted multi-asset broker regulated in multiple Tier-1 jurisdictions. CMC’s powerful Next Generation trading platform for web and mobile delivers a huge selection of markets and a fantastic user experience. CMC Markets also ranks highly for its high-quality research and educational content. Read full review
| Apple iOS App | Yes |
| Android App | No |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What is MetaTrader 5?
Introduced in 2010, MetaTrader 5 (MT5) is a popular forex trading platform for web, mobile, and desktop. Created by MetaQuotes Software Corporation, MT5 is the successor to the widely adopted MT4 platform.
Though MT4 remains the more popular option among retail forex traders, MT5 boasts numerous upgrades and significant improvements to the MetaTrader software suite. That said, MT5’s adoption rate among forex traders hasn’t kept pace with its predecessor, MT4. That is slowly starting to change, however, as more brokers begin to add MT5 to their platform offering.
MT5 upgrades and improvements
- Tooltips have now been added to trade execution buttons. This feature displays the number of units of being traded, informing traders about the value of every trade placed in the market.
- Market depth information is now displayed directly in the terminal window.
- Expanded time frames; 21-time frames are now available.
- Traders can hedge trades on MetaTrader.
- Trade volumes are now displayed alongside the asset price of new positions.
- The number of technical indicators has been expanded.
- Tradres can use libraries in MQL5 to convert EAs and indicators built with MQL4 for use with MT5
- New statistical functions have been added to the Standard Library.
- Advanced settings have been added to MetaTrader’s strategy tester.
- The MT5 mobile app allows users to chat and interact with other members of the MT5 community from within the MT5 platform.
MT5 special functions and features
MT5’s algorithmic trading suite enables the use of forex robots built with the MQL5 programming language. Traders and programmers can use the MQL5 Development Environment to build, test, debug and optimise automated trading robots. There is also a development assistant which enables traders with no experience whatsoever to compile very simple robots. MQL5 is more advanced than its MT4 counterpart, and includes elements of C++ to empower skilled developers to build increasingly complex expert advisors within the MQL5 IDE. Programmers are able to profit from their programming skills, by developing new robots or by selling existing EAs and indicators using the code base.
Strategy Tester
MetaTrader’s Strategy Tester enables the optimisation and testing of all software built with MQL5 before they are run on live accounts. Anyone who wants to purchase an EA from the MT5 Community should use the Strategy Tester to evaluate the software before purchase. This can also be done using the demo version of the software.
Is MT5 Free to Use?
Yes, MT5 is free to download and use. However, trading fees will still be applicable when you place live forex trades, which can vary from broker to broker. You’ll still be responsible for paying standard trading fees incurred with any forex broker such as commissions, spreads, and overnight carrying costs (premiums).
How does MetaTrader make money?
MetaQuotes Software, the company that developed the MetaTrader platform suite, makes money by licensing its trading platforms directly to brokers. Brokers will pay a fee to license MT4 and MT5 so that they can offer the platforms to their clients. Retail forex traders are not charged any fees from the platform’s developer.
Forex Brokers that offer MetaTrader 5
Looking for a forex broker that offers the MetaTrader 5 platform? Check out our comprehensive list of MT5 brokers (listed in alphabetical order). Click on each broker’s name to read our data-based broker reviews.
MetaTrader 5 Platforms
Like its predecessor, MT4, MetaTrader 5 is available for desktop, web, and mobile. The differences between the MetaTrader 5 platform options largely come down to individual trader preferences, trading styles, and the specific requirements of individual trading strategies. Remember: Regardless of platform choice, always prioritize risk management and responsible investing.
MetaTrader 5 Mobile App
Pros:
- Portability: Traders using mobile trading apps have the ability to monitor, execute, and manage trades from anywhere in the world with an internet connection. This flexibility is especially valuable in the fast-paced forex markets.
- Real-time data: Live quotes, charts, and trading analytics are at your fingertips, helping you remain informed on the go.
- Notifications: Instant alerts and push notifications keep you updated on market movements, facilitating timely decision-making.
Cons:
- Limited functionality: The mobile app, while robust, may not offer the full suite of tools available on the desktop or web versions (such as the ability to run backtests for automated trading or execute Expert Advisors).
- Smaller screen: Chart analysis and multitasking can be more challenging on smaller screens.
- Dependence on mobile network: As with any mobile trading app, the platform’s efficiency may be compromised in areas with weak cellular signals or unreliable Wi-Fi.
MT5 is available for Android and iOS users for on-the-go trading. Despite being temporarily delisted from the Apple App Store in September 2022, MetaTrader is available again for iOS as of March 2023.
smartphone Where you can download MT5 for mobile:
MetaTrader 5 is available for download from the Apple App store and for Android on the Google Play store.
MetaTrader 5 Web Platform
Pros:
- Cross-platform compatibility: The MT5 Web Platform is accessible from any device with an internet connection and a web browser.
- Frequent updates: Most (if not all) web trading platforms typically receive real-time updates, ensuring users always have access to the latest features and security patches.
Cons:
- Browser reliance: Performance can vary based on the browser used, and there might be occasional compatibility issues.
- Potentially limited features: While more comprehensive than the mobile version, some features available on the desktop platform might still be missing.
desktop_windows Want to try out MT5 on your web browser?
Check out the web version of MT5 by navigating to the web platform landing page on the MetaTrader 5 website.
MetaTrader 5 Desktop Platform
Pros:
- Full suite of tools: Offers the most comprehensive set of analytical tools, charts, and trading functionalities, suitable for the most demanding traders.
- Customizability: Allows for a tailored trading experience with custom indicators, scripts, and automated trading robots (Expert Advisors).
Cons:
- Stationary: Like all desktop software, the desktop version of MT5 requires a dedicated machine. You can’t just log in from any device (like with the MT5 web platform) or carry it in your pocket (like the MT5 mobile app).
- Software updates: Unlike the web platform, which updates automatically, the desktop platform might need manual updates from time to time.
desktop_windows Prefer to use MT5 on your desktop computer?
Download MT5 for desktop on MetaTrader’s MT5 site.
Can I use MT5 without a broker?
No, you can’t use MetaTrader (MT4 or MT5) without a broker. You’ll need to open a live account with a broker that offers MetaTrader 5 (MT5) to trade with real funds. You need to open a live account with a broker that offers MT5 to trade with real funds. While you can try out MT5 with a demo account, live trading isn’t possible unless you’ve connected MT5 to your broker. Whether you decide to connect your broker to MT4 or MT5, it’s critical to make sure that your forex broker that is highly regulated to safeguard yourself from potential forex scams.
Which is better for beginners, MT4 or MT5?
If you’re just starting out as a forex trader, you might be wondering whether MT4 or MT5 is a better fit for you. In our experience, MT4’s simplicity may make it a more suitable choice for beginners. As you gain more trading experience and begin to understand the intricacies of forex trading, you may find the expanded features and advanced capabilities of MT5 increasingly beneficial.
Both platforms are designed with user-friendly interfaces, but MT5 presents a steeper learning curve due to the complexity of its features and functionalities. That being said, it’s important to remember that both platforms provide plenty of support and online resources to assist you in your learning journey.
The table below summarises some of the more prominent differences between the two platforms.
What is the best forex broker for MT5?
IC Markets is our top pick for the best forex broker for traders that want to use MetaTrader 5. IC Markets stands out due to its high global trading volumes among MetaTrader brokers, and its competitive pricing and execution methods make it a popular choice for algorithmic traders. Traders at IC Markes gain access the Advanced Trading Tools package, a suite of platform add-ons developed by FX Blue LLP. The broker also supports third-party plugins from Trading Central and AutoChartist. If you’d like to learn more about why IC Markets received the top ranking for MetaTrader brokers in 2024 from our sister site, ForexBrokers.com, be sure to check out our data-based IC Markets review.
What is MetaQuotes Software?
MetaQuotes Software is a renowned financial technology company that was founded in the year 2000. Based in Russia, MetaQuotes is best known for the development of its MetaTrader suite of online trading platforms. The company started its journey by creating FX Charts, an online charting package for forex traders. However, it was the launch of the MetaTrader platform in 2002 that brought the firm global recognition. Today, MetaQuotes Software has become a staple in the financial markets and has offices and representative branches in several countries worldwide, including the United States, China, and Singapore.
A brief history of MetaTrader
MetaTrader 4, often referred to as MT4, was launched by MetaQuotes Software in 2005. MT4 became an instant hit among forex traders and brokers for its user-friendly interface, automated trading capabilities, and the scripting language MQL4, which allowed users to develop their own indicators and trading robots (also known as Expert Advisors). MT4 is immensely popular and is still used by a considerable number of forex traders worldwide.
Following the success of MT4, MetaQuotes Software released MetaTrader 5 (MT5) in 2010. Despite its upgraded functionalities, adoption of MT5 was initially slow due to the deep-rooted popularity of its predecessor. Designed as a full-fledged multi-asset trading platform, MT5 includes additional timeframes, advanced trading operations, enhanced order management capabilities, and the ability to trade a wider range of instruments beyond forex. Today, MT5 is gaining more recognition as brokers and traders start to embrace its advanced features and broader capabilities.
BrokerNotes.co 2025 Overall Rankings
To recap, here are our top forex brokers for 2025, sorted by Overall ranking.
| Company | Overall Rating | Minimum Deposit | Average Spread EUR/USD – Standard | Trust Score | Tradeable Symbols (Total) | Read Review |
| IC Markets |
https://www.forexbrokers.com/guides/metatrader-5-brokers
https://www.brokernotes.co/best-forex-brokers-metatrader-5-mt5