MetaTrader 5 Forex Brokers

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: December 1, 2025

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• Main features of the best MT5 Forex brokers
• Trading with MetaTrader 5
• order-types
• MT5 Features
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Many traders prioritise the range of supported trading platforms when selecting a forex broker. While some brokers offer proprietary platforms, many prefer to provide access to widely recognised and trusted software such as MetaTrader 4 and MetaTrader 5 (MT4 and MT5). MT4 has long been favoured for its intuitive design, comprehensive charting tools and robust options for automated trading. MetaTrader 5, the next-generation platform developed by MetaQuotes, enhances the trading experience with advanced analytical tools, versatile charting capabilities and improved automation features.

If you are seeking brokers that support MetaTrader 5, our expert team at TradingPedia has curated a list of top MT5 forex brokers. The MetaTrader 5 platform equips traders with all the essential tools needed to trade effectively across financial markets. In this review, you will find a comparison table of MT5 brokers, ranked according to key criteria including regulatory compliance, spreads and commissions, Trustpilot ratings, available trading instruments, platform features, and deposit and withdrawal options.

1. 

   Plus500 US

   Rating: 4

   This content applies only to Plus500 US and clients from the United States. Trading futures involves the risk of loss.

2. 

   eToro

   Rating: 4.2

   61% of retail investor accounts lose money

3. 

   Fusion Markets

   Rating: 4.8

   74-89% of retail's CFD accounts lose money

4. 

   FP Markets

   Rating: 4.9

   73.85% of retail investor accounts lose money

5. 

   Global Prime

   Rating: 4.7

   74-89% of retail CFD accounts lose money

6. 

   Pepperstone

   Rating: 4.4

   75.5% of retail investor accounts lose money

Our rankings are the result of a rigorous evaluation process conducted using TradingPedia’s exclusive methodology, ensuring that every broker listed meets high standards of reliability and performance. This comprehensive guide aims to help you identify the best MetaTrader 5 brokers to suit your trading needs.

Main features of the best MT5 forex brokers

Overview of MetaTrader 5

MetaTrader 5 (MT5) is a multi-asset trading platform developed by MetaQuotes Software, a pioneering company in trading software solutions established in 2000. Released in 2010 as the successor to the widely acclaimed MetaTrader 4 (MT4), MT5 was designed to address the evolving needs of traders and brokers, providing enhanced functionality and support for a broader range of financial instruments beyond forex, including stocks, CFDs, commodities, futures and indices.

MT5 improves upon the widely popular MT4 by incorporating advanced features aimed at enriching the trading experience. One of the main reasons for its development was to offer a platform capable of handling diverse asset classes and providing more powerful analytical and automated trading tools. Unlike MT4, MT5 employs the more sophisticated MQL5 programming language, which enhances the development of Expert Advisors (EAs) and custom indicators. The platform also introduces improved charting with additional time frames and analytical objects.

One of the standout features of MT5 is its support for various order types and execution modes, providing traders with flexibility and precision. The platform supports market, pending (buy stop, buy limit, sell stop, sell limit, buy stop limit and sell stop limit), stop loss and take profit orders, as well as advanced types such as trailing stops. Execution modes include instant, request, market and exchange execution, catering to different trading styles and market conditions.

MT5’s key features include multi-asset trading capabilities, comprehensive technical analysis tools with over 30 built-in indicators and 24 graphical objects, an advanced economic calendar and a robust strategy tester for optimising automated trading. Additionally, MT5 offers market depth visualisation, alerts, integrated financial news, cross-platform availability (desktop, mobile, web) and an intuitive user interface for streamlined order management.

Overall, MetaTrader 5 represents a significant upgrade, combining versatility, power and ease of use to meet the demands of modern traders and investors across global financial markets.

Seamless trading with MetaTrader 5’s user-friendly interface

MT4 and MT5 share a similar interface, so if you are upgrading to the newer platform you will have no difficulty switching to MT5. If you have already created an MT5 account, you can use your credentials to sign in and launch the main window of the software. The menu bar at the top provides access to chart operations, MT5 settings, analytical tools and other platform features.

A built-in learning system offers more than 100 interactive tips to help you learn and master different features of the platform. As with MT4, the MT5 platform will display available markets on the left side of the window, while market charts can be loaded immediately next to the Market Watch section.

Indicators and trading robots appear in the Navigator section, displayed below Market Watch. Any applications that traders have purchased and downloaded from the Code Base are also available in the Navigator. The Chart Switch Bar underneath allows you to toggle between the various charts you have loaded. Meanwhile, the Toolbox window enables traders to manage trading positions or view news and account history.

Order types available to MT5 traders

Conveniently, MT5 users have access to a variety of order types. All MT4 order options are available here, with MT5 also adding two order types that are not present in the older version of the MetaTrader platform.

Depending on the execution type, traders can choose to place market orders (instant-execution orders) or opt for pending orders. As the names suggest, the former allows instant execution at the current market price, while the latter allows execution at a specific price in the future.

The types of pending orders available in MT5 include:

1. Buy Limit – this order prompts a BUY execution if the future ASK price matches the parameters set by the trader when placing the pending order. In this case, the current market price should be higher than the value set by the trader.
2. Sell Limit – this option triggers a sell order when the future BID price matches the value set by the trader. This order type is typically placed by traders who believe the price of the asset, which has recently increased, will soon drop.
3. Buy Stop – this order triggers a buy operation when the future ASK price matches the value entered by the trader during the pending order setup. This order is suitable when traders assume the asset’s price will decline.
4. Sell Stop – this order prompts a sell execution when the future BID price matches the value set by the trader. It is usually placed when traders believe that the asset’s price, which has dropped to a certain level, will keep declining.
5. Buy Stop Limit – not available in MT4, this type combines two order variations by placing a stop on a Buy Limit order. When the future ASK price reaches the stop level, a Buy Limit order is executed. The stop level is set above the current ASK price and the Stop Limit value is below the stop level.
6. Sell Stop Limit – the second new order type in MT5, this is a stop order for placing a Sell Limit. When the future BID price reaches the stop level, a Sell Limit order is executed. The stop level is set below the current BID price and the Stop Limit value is above the stop level.

Take Profit and Stop Loss orders:

In MetaTrader 5 (MT5), Take Profit and Stop Loss are essential order types designed to help traders secure profits automatically and manage risk.

1. Take Profit – a Take Profit order allows traders to specify a price level at which their position will automatically close to lock in profits when the market moves favourably. For buy positions, the Take Profit is set above the current price; for sell positions, it is set below. This ensures that gains are secured without the need for constant market monitoring.
2. Stop Loss – conversely, a Stop Loss order is intended to limit potential losses by automatically closing a position if the market moves against the trader. For buy orders, the Stop Loss is set below the current market price, while for sell orders it is placed above. This automatic closing mechanism helps protect traders from significant losses during unexpected market fluctuations.

Both Take Profit and Stop Loss orders are placed alongside market or pending orders and execute as soon as their price thresholds are reached. By using these orders effectively, traders can automate their exit strategies, control their risk exposure and maintain discipline in volatile markets.

MT5 features enabling smooth trading

With more brokers including MT5 in their lists of supported trading platforms, more forex traders can place orders with a single click, monitor markets or adjust their strategy for successful automated trading. Below you can find the main features of the MT5 platform.

Multi-asset trading

Trade forex, stocks, commodities, futures, indices and cryptocurrencies within a single platform.

Wide range of order types

Full support for market orders, six types of pending orders (Buy Stop, Sell Stop, Buy Limit, Sell Limit, Buy Stop Limit and Sell Stop Limit), as well as Stop Loss and Take Profit orders.

Order execution modes

Four execution types, including instant, request, market and exchange execution, to suit different trading styles.

Advanced charting tools

Three chart types (line, bar, candlestick) and 21 time frames, from one minute up to monthly, plus tick volume and OHLC data.

Technical and fundamental analysis

The platform provides a range of analytical tools, including 38 technical indicators, 44 graphic objects and over 80 built-in analytical indicators, categorised into trend, oscillators, volumes and Bill Williams tools. They help traders understand market movements and make predictions about future price directions.

Market depth

MT5’s Market Depth feature provides real-time information about the best bids and offers for a particular asset, enabling traders to assess market liquidity and make more informed decisions.

One-click trading

Streamlines order execution directly from charts and windows, enhancing trading speed and efficiency.

Algorithmic trading

MT5 allows users to create and use algorithmic trading applications, including trading robots and Expert Advisors (EAs). These can be built from scratch or imported from the platform’s library. EAs allow traders to automate their trades, executing positions on their behalf even when they are not logged in to their MT5 accounts. This feature enables traders to process extensive information and multiple orders quickly with minimal intervention.

Strategy testing

Before activating a robot for automated trading, traders can use the platform’s built-in strategy tester. This tool examines the success rate of EAs and helps identify the best parameters for a strategy, enabling improved automated trading.

Multiple open positions

MT5 enables traders to manage multiple open positions simultaneously, making it easier to monitor and adjust their trades. Moreover, with two additional pending order types, MT5 offers users multiple order options to choose from for their trades.

Predicts market direction

With the advanced analytical tools available in MT5, traders can track price fluctuations with ease. In this way, platform users may predict market directions and make informed investment decisions.

Cross-platform access

Available on desktop, mobile (iOS and Android) and via web browsers, ensuring trading flexibility from anywhere.

Integrated financial news and economic calendar

Stay informed with market-moving events and news directly within the platform.

These features collectively create a seamless, powerful and versatile trading environment that caters to both beginners and advanced traders aiming to optimise their trading performance.