Best MT5 Forex Brokers in 2022

Forex brokers with the MT5 trading platform, comparison table. Compare the recommended brokers in 2022, sorted by overall rating by our industry experts. Check out how verified users, with a real trading account, rate each broker for its spreads and trading conditions.

What is a MetaTrader 5 broker?

Online brokers offering the MetaTrader 5 (MT5) trading platform, are considered MT5 brokers. MT5 is the proprietary trading software developed by the MetaQuotes Software Corp. released in 2010, and it’s an upgrade from the previous MT4.

The MT5 is a next-gen electronic trading platform used by online retail forex traders. Due to the popularity of the previous MT4 with retail traders, the MT5 is now being adopted by most retail forex brokers, who provide the software to their clients. And most retail brokers are simultaneously offering the MT5, alongside the older MT4.

Why trade with an MT5 broker?

There are multiple advantages regarding trading with an MT5 broker. Unlike its predecessor, the MT4, where investors could only trade forex and futures, the MetaTrader 5 platform allows forex and stocks trading. The multi-asset MT5 platform makes it easy for investors to buy stocks listed on the NYSE, the ASX, the XETRA, and many more.

In terms of tools, similar to the older MT4, the MetaTrader 5 comes also comes packed with a good suite. There are 80 built-in technical analysis tools and 21 time-frames, from M1 to Monthly. Regarding fundamental analysis, the platform is connected to several financial news outlets, allowing traders to follow in real-time the main geopolitical and market events.

Another reason why one should trade with an MT5 broker is the variety of advanced trading orders. Compared to the previous MT4 platform, the MT5 has the same order types, but a couple more extra options. We can find the Market Execution order (buy/sell at market price), the usual 4 pending orders (buy/sell limit and buy/sell stop), and the 2 extra options: buy stop limit and sell stop limit.

A buy stop limit order is a pending order used to buy a stock if the price hits a specific point. The sell stop-limit order is a pending order used to sell a stock when its price falls to a specific price. Of course, the MT5 platform also allows the setting of Stop Loss and Take Profit orders and a trailing stop function.

Another reason to trade with an MT5 broker, and similar to her older sister, is the platform’s potential of running EAs (automated trading robots) and Copytrading the deals of other traders. EAs can be programmed in the MQL5 IDE development environment, to help traders create, test and optimize trading programs. MT5 EAs can be programmed to execute trades, according to multiple strategy rules, and relieve traders from routine trading and market analysis.

Find the best MetaTrader 5 brokers with our list

Use our MT5 forex brokers list to compare several companies with the MetaTrader 5 platform and to find out how our industry experts rate them. You can also compare the overall rating and how verified traders, with a live account, rate each broker.

Find out what is the minimum deposit required to open a live account, the maximum leverage available with each broker and account currencies. Confirm the accepted funding methods, which brokers provide traders with Cent and PAMM accounts. Compare if the broker also has the MT5 available for mobile devices and the trading instruments (currencies, indices stocks, cryptocurrencies, etc.) available for trading.

Reputable MT5 forex brokers to help you succeed in your online trading career.