MetaTrader 5 is a super popular multi-asset trading platform. The software enables traders to trade currency pairs, commodities, CFDs, stocks, futures, bonds, and indices. In this review, we’ll discover the best Forex brokers that offer MetaTrader 5.
A quick comparison table of top MT5 brokers
When picking a broker it’s important to take into account inactivity fees, minimum deposit requirements, and maximum available leverage. In addition, it’s essential for your broker to be offering accounts in a currency that you use daily to save on currency conversions. Furthermore, it’s critical to make sure your broker is regulated before depositing funds into a live trading account.
RoboForex
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Visit broker 7 6.56 Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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FP Markets
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Visit broker 6.88 4.98 Trade Responsibly: Derivative products are highly leveraged, carry a high level of risk and are not suitable for all investors. Features of our products including fees and charges are outlined in the relevant legal documents available on our website. The legal documents should be considered before entering into transactions with us.
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XM
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Visit broker 8.4 8.34 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.03% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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AvaTrade
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Visit broker 8.8 7.63 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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| Available maximum leverage | 2000:1 | 500:1 | 1000:1 | 1000:1 | 400:1 |
| Minimum deposit | 10 USD | 100 AUD | 5 USD | 5 USD | 100 USD |
| Regulated in | Belize | Australia, Cyprus, St. Vincent and the Grenadines | Australia, Belize, Cyprus, UAE, UK | Kenya, Seychelles, South Africa, St. Vincent, and the Grenadines, UAE, UK | Australia, BVI, Ireland, Israel, Japan, South Africa, UAE |
| Account currencies | EUR, USD, CNY, GOLD | AUD, USD, EUR, GBP, SGD, CAD, CHF, HKD, JPY, PLN | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | EUR, USD, NGN, JPY, ZAR | USD, GBP, EUR, ZAR |
| Inactivity fees | No | No | 5 USD per month after 90 days of inactivity | 5 USD per month after 6 months of inactivity | 50 USD/EUR/GBP per month after 3 months of inactivity |
RoboForex
RoboForex is a Forex and CFD broker operating globally. The broker is authorized and regulated by the International Financial Services Commission of Belize.
RoboForex was established in 2009. The broker has 8 liquidity providers and serves more than a million customers. Customer service is available 24/7 in 11 languages. There are more than 20 payment systems available to fund and withdraw money from a trading account. For retail traders only a live trading account is available. The broker provides traders with negative balance protection and is a member of The Financial Commission.
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7
6.56
FP Markets
FP Markets is a group of Forex and CFD brokers serving customers globally. The broker is authorized and regulated in Australia, Cyprus, and St. Vincent and the Grenadines.
FP Markets was founded in 2005 and has since received more than 40 industry awards. Customer Support is available in more than 12 languages and agents are ready to answer questions 24/7 using live chat, phone, or via email.
The broker offers Standard and Raw ECN accounts to retail traders. Let’s take a look at the accounts and their features.
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6.88
4.98
| Standard account | Raw ECN account | |
|---|---|---|
| Spreads on AUD/USD | 1 pip | 0 pips |
| Spreads on EUR/USD | 1 pip | 0 pips |
| Commissions | No | USD 3 AUD per side |
| Minimum Deposit | 100 AUD or equivalent | 100 AUD or equivalent |
| Negative Balance Protection | Yes | Yes |
| VPS Available | Yes | Yes |
XM
XM is a group of Forex and CFD brokers operating globally. The broker is authorized and regulated in Australia, Belize, Cyprus, the UAE, and the UK.
XM was established in 2009 and today provides financial service to more than 5 million traders in over 190 countries. The customer support team of XM is available 24/7 over the phone, via live chat, or through email.
The broker offers three different account types to CFD and Forex traders. For trading physical stocks, traders need to deposit at least 10,000 USD or more into their trading account. Let’s take a look at CFD trading accounts and their features.
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8.4
8.34
| Micro account | Standard account | XM Ultra Low Accounts | |
|---|---|---|---|
| Spreads on AUD/USD | From 1.6 pips | From 1.6 pips | From 0.8 pips |
| Spreads on EUR/USD | From 1.6 pips | From 1.6 pips | From 0.6 pips |
| Commissions | No | No | No |
| Minimum Deposit | 5 AUD | 5 AUD | 5 AUD |
| Contract Size | 1 Lot = 1,000 currency units | 1 Lot = 100,000 currency units | Standard Ultra: 1 Lot = 100,000 currency units Micro Ultra: 1 Lot = 1,000 currency units |
| Negative balance protection | Unlimited | Unlimited | Unlimited |
| Maximum open/pending orders per client | 200 Positions | 200 Positions | 200 Positions |
| Minimum trade volume | 0.01 Lots (MT4) 0.1 Lots (MT5) | 0.01 Lots | Standard Ultra: 0.01 Lots Micro Ultra: 0.1 Lots |
| Islamic account version availability | Yes | Yes | Yes |
HFM
HFM is a group of Forex and CFD brokerage companies serving clients globally. HFM is authorized and regulated in Kenya, Seychelles, South Africa, St. Vincent and the Grenadines, the UAE, and the UK.
HFM, also known as HF Markets, was founded in 2010 and currently provides financial services to more than 3.5 million clients globally. The broker has over 60 industry awards under its belt, with customer support being available 24/5 in over 27 languages.
The broker offers various account types to its clients to meet the needs of different trading styles.
| Premium account | Zero Spread account | Premium Pro account | |
|---|---|---|---|
| Spreads on EUR/USD | From 1 pip | From 0 pips | From 1 pip |
| Commissions | No | Yes. GBP 4.5 round turn commission per lot traded on Major pairs. GBP 6.5 round turn commission per lot traded on Minor and exotic pairs. | No |
| Minimum Deposit | 100 GBP | 200 GBP | 5000 GBP for professional clients |
| Contract Size: | 1 lot = 100 000 currency units | 1 lot = 100 000 currency units | 1 lot = 100 000 currency units |
| Margin Call: | 80% | 80% | 50% |
| Stop Out Level: | 50% | 50% | 20% |
| Maximum Total Trade Size (Lots): | 60 Standard lots per position | 60 Standard lots per position | 60 Standard lots per position |
| Max Simultaneous Open Orders: | 300 | 500 | 300 |
Avatrade
Avatrade is a global Forex and CFD broker authorized and regulated in Australia, the British Virgin Islands, Ireland, Israel, Japan, South Africa, and the UAE.
Avatrade was founded in 2006. Currently, the broker serves more than 400 thousand registered clients with trade volumes exceeding 70 billion USD per month.
For retail traders, there’s only a live trading account available. In addition, traders can open demo and Islamic accounts with this broker.
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8.8
7.63
Best multi-asset MT5 Forex broker by asset class
As already mentioned, MT5 is a multi-asset platform, so let’s compare the number of assets each broker offers in each category.
| RoboForex | FP Markets | XM | HFM | Avatrade | |
|---|---|---|---|---|---|
| Number of available FX pairs | 35 | 63 | 57 | 53 | 64 |
| Number of available shares as CFDs | 8400 | 10,000+ | 1261 | 891 | 629 |
| Number of available physical shares | 3000 | N/A | 100 | 2170 | N/A |
| Number of available cryptocurrencies | 33 | 11 | 31 | N/A | 19 |
| Number of available commodities | 9 | 11 | 8 | 13 | 17 |
| Number of available indices | 6 | 16 | 14 | 11 | 30 |
All MT5 Forex broker reviews
In addition to the 5 brokers we have selected for this list, there are lots of other great FX and CFD brokers out there. You can take a look at the reviews on our website to get a fuller list, where we have reviewed a wide range of brokers in great detail. In our reviews, we focus on safety, available assets, fees, account opening, software, customer service, and research capabilities.
