MT5 Brokers UK

MT5 Brokers UK | Online Trading Account

MT5 Brokers UK Comparison Table
Online BrokerMinimum DepositTrading Accounts
£100Standard, Razor (ECN), Islamic
£5Micro, Standard, XM Xero (ECN), Islamic

MT5 Brokers UK - MT4 vs MT5 - Trading Accounts

MetaTrader 5 (MT5) is the successor to MT4. While many brokers offer MT4, MT5 is less prevalent. These brokers are regulated in the United Kingdom by the Financial Conduct Authority (FCA) and offer MT5 to UK clients (as well as MT4).

MT5 has some similarities to MT4: each allows both discretionary trading, where the trader makes the their own trading decisions, at their discretion and automated trading where computer programs make the decisions of behalf of the trader. For both platforms these programs are called Expert Advisors and can be used, modified or built by the trader. Expert Advisors are automated trading strategies, i.e. the kind of rules a trader may apply when trading on their own behalf, based for example on indicators.

However MT5 has made a number of enhancements. These is an increased number of indicators inbuilt on the platform. Indicators can also be added, however and modified or built by the trader, a feature of both MT4 and MT5. There are more graphical objects on MT5 vs MT4 and MT5 has more time frames (e.g. 1 minute, 1 hour etc.).

MT5 additionally has market depth as standard. Market depth shows the bid and offers at various prices, depending on the volume being traded. MT5 has more order types and order fill types (i.e. specifying when an order is to be filled). For all traders, but particularly news traders, an economic calendar is supplied on MT5, unlike MT4.

Brokers which offer MT5 and MT4 may have ECN trading, which automated traders may find useful as it allows for high speed order execution and typically no dealing desk execution, allowing a wide range of trading styles, such as scalping. However they may have other account types as well.

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