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MetaTrader 5 Forex Brokers

Written by 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: November 23, 2024

Find the best MetaTrader5 forex brokers reviewed by our expert team at TradingPedia. If you are looking for a well-equipped trading platform that will allow you to trade on the financial markets, then why don’t you take a look at Meta Trader 5? It has all the tools a trader needs.

  1. Fusion Markets
    Rating: 4.9
    74-89% of retail CFD accounts lose money
  2. FP Markets
    Rating: 4.8
    73.85% of retail investor accounts lose money
  3. Pepperstone
    Rating: 4.7
    75.5% of retail investor accounts lose money
  4. Global Prime
    Rating: 4.4
    74-89% of retail CFD accounts lose money
  5. eToro
    Rating: 4.2
    51% of retail investor accounts lose money
  6. XM Group
    Rating: 2.9
    72.82% of retail investor accounts lose money

Below you can find a comparison table of forex brokers that support MetaTrader 5. We rank them based on several factors including: regulation, spreads and commissions, Trustpilot rating, trading instruments, trading platforms, deposit and withdrawal methods.

Main features of the best MT5 Forex brokers

Forex Brokers with MetaTrader 5 Compared By Leverage and Commission per Lot

BrokerMin DepositMax LeverageCommission per LotTrustpilot Rating
1. Fusion Markets$01:30 for ASIC Entity (1:500 for VFSC Entity)$0 Classic Account, $4.50 round turn on Zero Account4.9
2. FP Markets$50 (AU$100)1:30 (Retail)
1:500 (Professional)
$0 Standard Account; $6 round turn on Pro Account4.8
3. Pepperstone$01:30 (Retail ASIC, CySEC, FCA); 1:500 (Professional); 1:400 (CMA)$0 (Standard Account), $7 round-turn (Razor Account)4.7
4. Global Prime$01:30 (Retail)
1:500 (Professional)
$0 Standard Accounts; $7 round turn on Raw Accounts4.4
5. eToro$50 or $100 based on country ($10 for the UK)1:30 (FCA, ASIC, CySEC); 1:50 (FINRA); 1:500 (FSA)$04.2
6. XM Group$51:30 for CySEC and ASIC Entities (1:1000 for Other Jurisdictions)$0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account2.9

MetaTrader 5 Forex Brokers by Spread

BrokerEUR/USDUSD/JPYGBP/USDUSD/CHFAUD/USDEUR/GBPUSD/CAD
1. Fusion Markets0.070.131.010.370.900.230.14
2. Global Prime0.130.281.110.340.070.280.26
3. XM Group0.80.90.92.10.751.52.4
4. eToro1.01.02.01.511.51.5
5. Pepperstone1.00 (min)1.01.00 (min)1.11.21.21.42
6. FP Markets1.10.301.21.81.20.201.5

Here is a detailed summary of the text:

Overview of MetaTrader 5 (MT5)

MetaTrader 5 (MT5) is a trading platform that allows users to trade various financial instruments, including Stocks, CFDs, Forex, and Futures. The platform provides a range of features that enable traders to automate their trades, analyze markets, and make informed investment decisions. Below you can find the main features of the MT5 platform.

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.

Multiple Open Positions

MT5 enables traders to manage multiple open positions simultaneously, making it easier to monitor and adjust their trades.

Technical and Fundamental Analysis

The platform provides a range of analytical tools, including 38 technical indicators, 39 graphical indicators, and 80 built-in analytical indicators. These tools 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.

Automated Trading

MT5 allows traders to automate their trades, executing positions on their behalf even when their machine is off. This feature enables traders to process extensive information and multiple orders quickly with minimal intervention.

Predicts Market Direction

MT5’s analytical tools enable traders to predict market direction and make informed investment decisions.
Supports Advanced Market Depth: The platform’s Market Depth feature provides real-time information about market liquidity and standing buy and sell.