Best MetaTrader 5 Forex Brokers

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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7

7

6.56

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.
FP Markets
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6.88

6.88

4.98

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.
XM
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8.4

8.4

8.34

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.
AvaTrade
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8.8

8.8

7.63

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.
Available maximum leverage2000:1500:11000:11000:1400:1
Minimum deposit10 USD100 AUD5 USD5 USD100 USD
Regulated inBelizeAustralia, Cyprus, St. Vincent and the GrenadinesAustralia, Belize, Cyprus, UAE, UKKenya, Seychelles, South Africa, St. Vincent, and the Grenadines, UAE, UKAustralia, BVI, Ireland, Israel, Japan, South Africa, UAE
Account currenciesEUR, USD, CNY, GOLDAUD, USD, EUR, GBP, SGD, CAD, CHF, HKD, JPY, PLNUSD, EUR, GBP, JPY, CHF, ‎ AUD, HUF, PLN, RUB, SGD, ZAREUR, USD, NGN, JPY, ZARUSD, GBP, EUR, ZAR
Inactivity feesNoNo5 USD per month after 90 days of inactivity5 USD per month after 6 months of inactivity50 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. 

 



 
RoboForex
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7

7

6.56

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.

 

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.

 


 
FP Markets
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6.88

6.88

4.98

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.

 

 Standard accountRaw ECN account
Spreads on AUD/USD1 pip0 pips
Spreads on EUR/USD1 pip0 pips
CommissionsNoUSD 3 AUD per side
Minimum Deposit100 AUD or equivalent100 AUD or equivalent
Negative Balance ProtectionYesYes
VPS AvailableYesYes

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.

 


 
XM
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8.4

8.4

8.34

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.

 

 Micro accountStandard accountXM Ultra Low Accounts
Spreads on AUD/USDFrom 1.6 pipsFrom 1.6 pipsFrom 0.8 pips
Spreads on EUR/USDFrom 1.6 pipsFrom 1.6 pipsFrom 0.6 pips
CommissionsNoNoNo
Minimum Deposit5 AUD5 AUD5 AUD
Contract Size1 Lot = 1,000 currency units1 Lot = 100,000 currency units

Standard Ultra: 1 Lot = 100,000 currency units

Micro Ultra: 1 Lot = 1,000 currency units

Negative balance protectionUnlimited Unlimited Unlimited 
Maximum open/pending orders per client200 Positions200 Positions200 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 availabilityYesYesYes

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 accountZero Spread accountPremium Pro account
Spreads on EUR/USDFrom 1 pipFrom 0 pipsFrom 1 pip
CommissionsNoYes. 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 Deposit100 GBP200 GBP5000 GBP for professional clients
Contract Size:1 lot = 100 000 currency units1 lot = 100 000 currency units1 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 position60 Standard lots per position60 Standard lots per position
Max Simultaneous Open Orders:300500300

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. 

 


 
AvaTrade
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8.8

8.8

7.63

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.

 

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. 

 RoboForexFP MarketsXMHFMAvatrade
Number of available FX pairs3563575364
Number of available shares as CFDs840010,000+1261891629
Number of available physical shares 3000N/A1002170N/A
Number of available cryptocurrencies331131N/A19
Number of available commodities91181317
Number of available indices616141130

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. 

FAQ on the best MetaTrader 5 Forex Brokers