Top 10 MT5 Brokers

Top 10 MT5 Brokers | MT5 Brokers List

MetaTrader 5 (MT5) is an online trading platform which is the successor to MT4. MT5 like MT4 is developed and provided by MetaQuotes, established in 2000. However MT5 is available to traders through brokers, who themselves subscribe to this service. MT5 offers a number of enhancements on MT4. Like MT4, MT5 allows the use of online trading robots and lets the trader customise the platform.

MT5 is a platform which allows the trader to make their own trading decisions and if they wish to use robots to trade on their behalf. Robots on MT5 have the same name as those on MT4, which is Expert Advisors (EAs). However MT5 robots use a different programming langauge, MQL5 (based on C++ so it allows object oriented coding), versus MQL4 for MT4. MQL5 (and MQL4) allow the trader to design their own robots.

MQL5 is not backwards compatible with MQL4, so one reason for starting with MT5 versus MT4, is to be able to write code without needing to re-write it as some stage. Traders can download robots as well, some may be provided for free but many have a fee.

MT5 wins awards, for example it won 'Best Multi Asset Platform' at the prestigious 2022 FMLS Awards in London. As the award suggests, MT5 is designed to provide a wide range of markets (this is a major difference between MT4 and MT5). The actual market offering depends on the broker, however it can accomodate thousands of markets (for example Stocks CFDs). Consequently the number of markets offered by MetaTrader brokers has trended up.

MT5 offers more inbuilt technical indicators than MT4. The trader may download more indicators and can build them in MQL5. Technical indicators are used to indicate possible market conditions, such as momentum and volatility, and are based in general on past trading patterns. MQL5 can also create scripts, which are used to perform desired functions with the platform (for example automating repeated functions).

MT5 is the successor to MT4 sharing some features, enhancing others and offering new features

Time frames and indeed time frame analysis can be important in trading, and MT5 has more time frames than MT4. MT5 also features a built in Economic Calendar, this may be used in a wide range of ways, as it shows upcoming data releases, with forecasts for the numbers and pointers to affected markets. MT5 also supports 64-bit multi threaded devices, so it can be faster and more efficient and additionally there is a wider range of pending order types.

MT5 can offer a wider ecosystem, the MQL5 Community. This includes MQL5 Trading Signals (copy trading), Tutorials, Code Base, Forum (to exchange ideas), Market and VPS (for running robots 24/7). MQL5 Code Base allows the trader to access free source code for indicators and trading systems. MQL5 Market lets the trader purchase ready to go indicators and systems.

Since MT5 is available through brokers (or more properly providers), these will choose which services to provide, as well as in many cases offer additional platforms and services.

1 Pepperstone

  • Minimum deposit: $200
  • Online trading platforms: MT4, MT5, cTrader, TradingView

Pepperstone offers MT5 along with other trading platforms. Pepperstone provides accounts for traders who want to trade on their own behalf and for those who want to use automated trading. MT5 has a user friendly app. Desktop has the full features of MT5.

MT5 also comes with Autochartist which scans the market looking for potential trades as well as Smart Trader tools, which are a suite of add-ons for MT5. MT5 at Pepperstone offers 1200+ markets to trade, including Forex (with spreads from 0, plus commission or 0.6 without a commission charge) and Stock CFDs. Pepperstone uses trading infrastucture to deliver rapid order processing and allows a wide range of trading styles.

2 ThinkMarkets

  • Minimum deposit: None
  • Online trading platforms: MT4, MT5, ThinkTrader

ThinkMarkets offers MT5 on its Standard account (with no minimum deposit) and its ThinkZero account (with a $500 minimum deposit). On the Standard account Forex spreads are available from a tight 0.4 pips without a commission charge and on the ThinkZero account from 0 pips with a commission charge.

ThinkMarkets uses Equinix NY4 and LD5 data centers to help provide low latency order processing for each account type. To some extent, the Standard account is geared towards traders who make their decisions, while the ThinkZero account is aimed at automated traders, however either type of trader can use both.

3 AvaTrade

  • Minimum deposit: $100
  • Online trading platforms: MT4, MT5, Web Trader, AvaOptions

AvaTrade offers a wide range of trading platforms, including MT5. AvaTrade is regulated in a wide range of different regions and provides 1000+ markets to trade on MT5.

4 XM

  • Minimum deposit: $5
  • Online trading platforms: MT4, MT5

XM offers MT5 on all its account types, including its Micro account. The Micro account allows for very small trade sizes (it is a Cent account). This account has a $5 minimum deposit as do the other account types. The lowest spreads are on the XM Zero account, which is available in some regions. This account offers spreads from 0 pips, plus commission.

5 Oanda

  • Minimum deposit: None
  • Online trading platforms: MT4, MT5, fxTrade

Oanda Global provides MT5, as well as MT4. Oanda is a provider which offers a wide range of trading tools, these include Premium Tools for MT5 (and MT4). Premium Tools are add-ons which expand the features on MT5. Additionally extra indicators are included and Expert Advisors. Expert Advisors can do more than robots and indicators, and Oanda provides technical analysis powered by Autochartist for MT5 as an EA.

Oanda offers a wide range of account types, for different types of traders. All accounts except for the Swap-free account offers MT5. The Standard acocunt is for all traders, the Core account is for robots and high frequency traders, while the Premium and Premium Core accounts are for high volume traders.

6 IC Markets

  • Minimum deposit: $200
  • Online trading platforms: MT4, MT5, cTrader

IC Markets has a focus on providing platforms and account for scalpers, high volume and automated traders. IC Markets' MT5 servers are located in Equinix's NY4 data center, for low latency order transmission. IC Markets says that within the center latency is on the order of 1 milisecond, with overall latency around 40 miliseconds.

IC Markets says it has no restrictions on trading styles. IC Markets also provides MT5 add on tools. Spreads are available from 0.6 without a commission charge and 0 with a commission charge. There are 2250+ markets to trade, including 2100+ Stocks CFDs.

7 Deriv

  • Minimum deposit: $5
  • Online trading platforms: MT5, Deriv X

Deriv offers a wide range of types of markerts to trade on MT5. Deriv provides the Signal Center by Acuity and MetaTrader Signals (for copy trading) on MT5. The Signal Center by Acuity is an innovative and user friendly integration of an Economic Calendar and Trading Signals. Deriv has no minimum deposit requirement to fund its MT5 trading account (but a $5 minimum deposit overall).

8 Vantage

  • Minimum deposit: $50
  • Online trading platforms: MT4, MT5, ProTrader

Vantage Markets offers MT5 trading on all its account types. Both the Standard STP and Raw ECN accounts have a $50 minimum deposit, while the Pro ECN account requires a $10,000 minimum deposit. The Raw ECN and Pro ECN accounts offers Forex spreads from 0 plus commission, however the Pro ECN has a lower commission charge.


  • Minimum deposit: $10
  • Online trading platforms: MT4, MT5

FXTM does not offer MT5 in every region, but where it does, it provides two MT5 account types, the Advantage and Advantage Plus account, with a $500 minimum deposit. The $10 minimum deposit ($50 in the EEA) is for the Micro MT4 account, which allows for very small trade sizes.


  • Minimum deposit: $15
  • Online trading platforms: MT4, MT5, cTrader

FXPRIMUS provides MT5 on its PRIMUSClassic account with a $15 minimum deposit. MT5 is also available on its PRIMUSPro account, with $500 minimum deposit.

MT5 is the successor platform to MT4. It offers a number of enhancements on and continues with the legacy of MT4 (which still very much exists) by offering automated trading, the capacity to customise the platform and the ability to download or create robots, indicators and scripts.