IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Pepperstone
FP Markets
TickmillBest MetaTrader 5 (MT5) Forex Brokers for 2025
Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer
Steven HatzakisSteven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. He is a forex industry expert and an active fintech and crypto researcher.
Steven Hatzakis has been reviewing forex brokers for nearly ten years and has 25+ years of experience as a forex trader. His broker reviews are unbiased and independent, and his expertise is sought after for global FX conferences and speaking events around the world. Learn how we test.
I've been trading forex for more than 25 years and have spent over a decade working with the MetaTrader platform. My experience includes extensive use of both MetaTrader 4 (MT4) and its successor, MetaTrader 5 (MT5). This guide will help you explore some of MT5's most important features and functions.
The platform's upgrades and improvements over its predecessor, MT4, have pushed more of the best MetaTrader brokers to offer MT5. As a result, trading volume on MT5 has now eclipsed MT4 (as of April 2025). If you’ve decided that you want to use the MT5 platform (and there are good reasons for doing so), you’ll still need to pick a trustworthy, well-regulated forex broker to start trading.
| Company | Average spread (EUR/USD) - Standard account | Minimum Deposit | Overall Rating |
 IC Markets
|
0.62 | $200 |
|
 FP Markets
|
1.3 | $100 AUD |
|
 Pepperstone
|
1.1 | $0 |
|
 FOREX.com
|
1.00 | $100 |
|
 Exness
|
N/A | $10 |
|
 FxPro
|
1.6 | $100 |
|
 Admirals
|
0.8 | $100 |
|
Best MetaTrader 5 (MT5) brokers
I've tested more than 60 of the biggest forex brokers in the industry (read more about how we test), and evaluated the top MetaTrader 5 offerings to produce my list of the best MT5 forex brokers:
Trading from the U.S.?
Explore the best MT5 brokers available to U.S. traders.
- Minimum Deposit: $200
- Trust Score: 84
- Tradeable Symbols (Total): 3583
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders. Read full review
- Consistently excellent MetaTrader broker
- Great automated copy trading strategies
- Competitive pricing
- Research and education are limited
- Regulated primarily by one Tier-1 regulator (in Australia)
- Minimum Deposit: $100 AUD
- Trust Score: 89
- Tradeable Symbols (Total): 10000
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option. Read full review
- Very competitive spreads
- Industry-leading pricing on MetaTrader
- Room for improvement in education
- Mobile trading app lacks features offered by industry leaders
- Minimum Deposit: $0
- Trust Score: 95
- Tradeable Symbols (Total): 1726
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms. Read full review
- Large selection of third-party copy trading platforms
- Competitive pricing for active traders using Razor accounts
- Selection of markets trails industry leaders
- No interactive courses, progress tracking or educational quizzes
- Minimum Deposit: $100
- Trust Score: 99
- Tradeable Symbols (Total): 5500
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader. Read full review
- Multiple high-quality platforms
- Excellent market research
- Wide range of markets
- Only about 600 instruments are available on the MT5 platform, compared to over 4,500 on non-MetaTrader platforms
- Minimum Deposit: $10
- Trust Score: 81
- Tradeable Symbols (Total): 209
Exness is a MetaTrader-only broker regulated in the EU offering multiple account types and forex pairs, but its offering lacks the range of CFDs forex brokers typically offer. Read full review
- Multiple account types and execution methods
- Offers MetaTrader 5
- Limited in-house research
- Lack of CFD offers outside of forex and metals
- Minimum Deposit: $100
- Trust Score: 93
- Tradeable Symbols (Total): 2249
FxPro competes among the top MetaTrader brokers, featuring multiple account options and various execution methods. It provides its own proprietary FxPro Edge app – though it isn’t yet available for mobile – alongside access to the BnkPro app (which isn’t yet available in all regions). Read full review
- Robust platform offerings
- Clean execution of large orders
- Pricing trails industry leaders
- Proprietary platform can't compete with the best
- Minimum Deposit: $100
- Trust Score: 93
- Tradeable Symbols (Total): 8702
Traders choose Admirals for its excellent investor education and advanced MetaTrader features – such as the Supreme add-ons – alongside an extensive range of shares, forex and CFD markets, and premium research content. Read full review
- Competitive pricing on the EUR/USD pair
- Outstanding educational content
- Wide selection of 8,425 tradeable symbols
- Narrower range of symbols for the Admiral Prime account (MT5)
- Admirals App is relatively unsophisticated
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Top picks for MetaTrader 5 brokers
Best overall forex broker for using MetaTrader 5 - IC Markets
| Company | Trading Platforms | Average spread (EUR/USD) - Standard account | Active Trader or VIP Discounts [DELETED] | Forex Pairs (Total) |
|
IC Markets
|
|
0.62 | 61 |
IC Markets is my top choice for forex traders who are looking for the best MetaTrader 5 experience on the market. The third-party research and trading tool plugins available for MetaTrader at IC Markets helped the broker win the ForexBrokers.com 2025 Annual Award for #1 MetaTrader broker (it’s worth noting that IC Markets has won the top spot for MetaTrader 4 years in a row).
MetaTrader users at IC Markets will gain access to the Advanced Trading Tools package, which is a suite of platform add-ons developed by FX Blue. IC Markets also provides installable third-party plugins from Trading Central and Autochartist. Some of the attributes that make IC Markets a popular choice for MetaTrader also make it a great broker for other third-party trading platforms, like cTrader and TradingView.
Many traders at IC Markets take advantage of the broker’s competitive pricing and execution methods to run algo trading strategies. This is the primary reason the broker made the top spot for MetaTrader 5. Over the years, this has resulted in IC Markets having some of the highest global trading volumes among MetaTrader brokers. Learn more by checking out my IC Markets review.
Great low-cost option for MetaTrader 5 - FP Markets
| Company | Trading Platforms | Average spread (EUR/USD) - Standard account | Active Trader or VIP Discounts [DELETED] | Forex Pairs (Total) |
|
FP Markets
|
|
1.3 | 71 |
FP Markets is a great low-cost option for forex and CFD traders that prefer to use the MetaTrader platform. Traders gain access to the full MetaTrader suite (both MT4 and MT5) as well as the popular cTrader platform. Ultra-competitive spreads are available on MetaTrader at FP Markets by way of its commission-based Raw ECN account.
FP Markets also offers support for Autochartist plugin integration as well as platform add-ons from FX Blue as part of its Trader Toolbox offering.
Overall, forex and CFD traders who want to use MT5 will appreciate the broker’s MetaTrader experience – FP Markets earned Best in Class honors for its MetaTrader offering for four years in a row in the ForexBrokers.com Annual Awards. It’s worth noting though that the scope of its research and educational offering are limited compared to the best brokers. Learn more by checking out my FP Markets review.
Plethora of third-party tools for MetaTrader 5 - Pepperstone
| Company | Trading Platforms | Average spread (EUR/USD) - Standard account | Active Trader or VIP Discounts [DELETED] | Forex Pairs (Total) |
|
Pepperstone
|
|
1.1 | 65 |
Pepperstone offers a rich platform experience for MetaTrader enthusiasts. It also offers nearly every third-party platform available on the market, including cTrader and TradingView. Pepperstone won Best in Class honors for our MetaTrader in the ForexBrokers.com 2025 Annual Awards (extending a streak the broker has held onto for a stunning 8 years).
Pepperstone provides multiple platform add-ons that enhance the MetaTrader experience, including access to Autochartist, API trading, and a suite of Smart Trader Tools plugins available as an add-on for MetaTrader accounts.
The availability of both the MT4 and MT5 apps combined with its launch of a proprietary mobile app has helped inch Pepperstone closer to competing with brokers offering the best mobile trading apps, thanks to the modern design of these applications. Check out my Pepperstone review to learn more.
FAQs
What is MT5?
One of the most well-known retail forex trading platforms in the world, MetaTrader 5 (MT5) is part of a suite of trading applications developed by MetaQuotes Software Corporation for desktop, web, and mobile.
Designed as the successor to the wildly popular MT4 platform, MT5 features multiple upgrades and boasts some significant improvements to the MetaTrader software. Still, MT4 remains one of the most widely used retail forex trading platforms on the market. If you’d like to learn more about MetaTrader 4 and the MetaTrader software suite, check out my complete guide to MetaTrader.
Like previous MetaTrader platforms, MT5 supports multiple execution methods and is designed as a turnkey solution for brokers. Brokers pay a fee to license the MetaTrader software so that they can provide the platform to their clients. Brokers can customize the MT5 platform based on the range of markets they offer to best suit their individual client’s needs – which means that MT5 offerings can vary from broker to broker.
The MT5 platform was first introduced in 2010 and has been slow to gain adoption among traders when compared with MT4, its successful predecessor. To encourage the transfer of accounts to its newest platform, MetaQuotes recently announced its decision to discontinue the sale of new licenses for the MT4 platform and has been gradually reducing support. As more brokers have added MT5 to their platform offering over the years, it has slowly gained wider adoption across the brokerage industry.
MetaTrader on mobile devices
Android and iOS users can download MT5 for trading on the go. The MetaTrader apps (MT4 and MT5) were briefly delisted from the Apple App Store in September 2022, but MetaTrader is again available for iOS as of March 2023.
Can you use MetaTrader 5 in the U.S.?
Yes. As of 2025, only two brokers offer MetaTrader 5 (MT5) to U.S. residents: FOREX.com and Trading.com.
FOREX.com offers MT5 alongside MT4 and its other platforms, with comprehensive charting tools, broad market access, and extensive educational resources.
Trading.com offers MT5 to U.S. traders and also provides access via its browser-based WebTrader platform.
MetaTrader 5 Brokers List
We review and continuously monitor the offerings of over sixty different forex brokers. MetaTrader is just one of the numerous features that we test when reviewing a broker. Of the forex brokers that we review, here are the ones that offer MetaTrader 5:
- ActivTrades
- ACY Securities
- Admirals
- ATFX
- Alpari
- AvaTrade
- BDSwiss
- BlackBull Markets
- Doo Prime
- Eightcap
- Exness
- FOREX.com
- FP Markets
- FXOpen
- FXPRIMUS
- FxPro
- FXGT.com
- GBE brokers
- HFM
- HYCM
- IC Markets
- LegacyFX
- Markets.com
- markets4you
- Moneta Markets
- MultiBank Group
- OANDA
- Octa
- Pepperstone
- RoboForex
- Swissquote
- TeleTrade
- ThinkMarkets
- TMGM
- Tickmill
- VT Markets
- Vantage
- XM
About the MetaTrader 5 Product Suite
Like the MT4 platform, MT5 is available for desktop, web, and mobile. We’ve tested the MetaTrader 5 platform across devices, and we’ve detailed their strengths, weaknesses, similarities, and differences below:
MT5 mobile app
MT5’s popular Mobile Trading app is available for Android devices from the Google Play store, where it has been downloaded over 10 million times and holds a rating of 4.5/5. The Android version is supported on phones and tablets, and – like MT5’s web platform – MT5’s mobile app features 30 built-in indicators.
Note: MetaTrader 5 is available for download from the Apple App store and for Android on the Google Play store.
Take a behind-the-scenes look at the MT5 Mobile Trading app with our video walkthrough:
Bottom line: The MT5 app is light on features compared to the desktop platform, but it still offers more functionality and greater ease of use than the web version.
Some of the best mobile apps are developed in-house by the top forex brokers in the industry. Want to learn more about the wide range of available mobile apps? Read our guide to the best forex trading apps.
MT5 desktop platform
MT5’s desktop terminal is downloadable and designed for use with Windows-based computers. MT5 users gain access to more than 100 interactive charts that feature dozens of analytical tools, such as indicators and graphical objects. The 21 available time frames allow for in-depth technical analysis of currencies, exchange futures, stocks, cryptocurrencies, indices, and spot metals.
Check out our walkthrough of the MetaTrader 5 desktop platform:
Bottom line: If you are hoping to unlock the full potential of MT5’s powerful trading platform, the desktop version is the way to go.
Download MT5 for desktop on MetaTrader’s MT5 site.
MT5 web platform
MT5’s web-based platform can be accessed from any browser or operating system without the need to download any software. Instead, your broker provides a unique URL from which the service can be accessed with the trader’s login details.
The web version of MT5 recently underwent a massive makeover, which updated its charting capabilities and overall responsiveness to be more competitive with modern web platforms like TradingView. Check out my forex charting guide to learn why charts are so important for forex traders.
TradingView
A popular trading platform that delivers a range of powerful charting functions and robust analysis tools, TradingView is used by millions of traders. Learn more by checking out our TradingView guide.
Note: You can’t manage trading robots or carry out advanced operations on MetaTrader 5’s web platform.
Check out our walkthrough of MT5’s web platform:
Bottom line: WebTrader is a lighter version of MT5’s desktop platform, and only offers the most basic features for carrying out trading and account management.
Start using MT5’s web platform by visiting MetaTrader’s MT5 web platform site.
Pro tip:
Demo and live account options are available for all versions of MT5. It's always a good idea to try out a free demo account to learn the software before risking your real money.
Comparing MT4 vs MT5
MT4 and MT5 may share the same developer (and the two platforms even look alike), but their coding is significantly different, and each platform has distinct functionalities and features. MT5 brings a number of changes to the MetaTrader platform that have bolstered the computational power of the MetaQuotes’ software suite. For example, MT5 runs in 64 bits to match the capabilities of modern processors, which means that it runs much faster and can handle billions more data points than MT4.
MT5 also features two new order types, advanced Strategy Tester settings, a new MQL programming language, and multiple design optimizations – among other additions and changes.
For a deeper dive into the differences between these two popular versions of the MetaTrader software, check out my MT4 vs MT5 guide.
Can I use MT5 without a broker?
No, you’ll need to open a live account with a broker that offers MetaTrader 5 (MT5) in order to trade with real funds. You can try MT5 out with a demo account, but you won’t be able to do any live trading – and if your demo account is not connected to a broker, you won’t have access to updated rates.
When choosing a forex broker that offers MT5, make sure that the broker offers the range of markets you are interested in trading, and that it can equip you with the trading tools you’ll need for your trading strategy. It’s also important to make sure your forex broker is highly regulated; this is the best way to protect yourself from forex scams.
We’ve evaluated dozens of forex brokers to determine whether you can trust them with your live trading funds – read more about Trust Score.
Which broker is best for MT5?
When comparing the best MetaTrader brokers across all categories, IC Markets stands out as our top pick for MT5 in 2025.
IC Markets also has some of the highest global trading volumes among MetaTrader brokers, as traders tend to run algorithmic trading systems at IC Markets due to its competitive pricing and execution methods available. The qualities that make IC Markets a great broker for MetaTrader also make it a fantastic broker for cTrader, another popular third-party platform. If you are interested in learning about algorithmic trading and automated high-frequency trading systems, check out our guide to high-frequency trading.
Is the MT5 platform free?
Yes, MT5 is totally free to download and use – though you should still be prepared to pay trading fees when you place live forex trades (these can vary from broker to broker). Brokers pay to license the MT5 trading platform directly from the developer, but retail traders are not charged any platform fees to use MT5. Traders will of course still be responsible for paying the standard trading fees incurred with any forex broker – such as commissions, spreads, and overnight carrying costs (premiums).
Should a beginner use MT4 or MT5?
Beginners may not notice any significant differences between MT4 and MT5. On the surface, they are similar in appearance and function, and MT5’s added features and advanced functionalities may not be hugely important for beginners. Before deciding on MT4 or MT5, it’s important for new traders to learn the basics of trading and to develop a keen understanding of how trading platforms work.
Beginner forex traders should start by consuming educational content (check out my guide to the best free forex trading courses for some suggestions) and experimenting with a demo account before trading with a live, fully funded account. Demo and live account options are available for all versions of MT5. However, with MT5 now leading in trading volume, traders and brokers are encouraged to consider switching to MT5 to take advantage of its advanced features and wider range of assets.
Forex for beginners
Whether you choose MT4 or MT5, check out my popular guide to forex trading for beginners. Or, read my Forex 101 educational series that covers everything you’ll need to know about forex and currency trading, the ins and outs of leverage, how pips work, and more.
Is it safe to use MetaTrader?
Yes, the MetaTrader platform is safe to use. MetaTrader is a popular software suite for trading forex and CFDs – but it’s not a broker. This means that your level of safety when trading forex will depend on your forex broker, not on the MetaTrader software. Whether you use MT4 or MT5, you’ll want to make sure that your forex broker is well-capitalized and licensed by reputable regulatory agencies.
The ForexBrokers.com Trust Score algorithm provides an at-a-glance score of a broker’s reliability and trustworthiness – learn more about Trust Score and the regulatory agencies that we track.
ForexBrokers.com Overall Rankings
Now that you've seen our picks for the best brokers on this guide, check out ForexBrokers.com's overall broker rankings. We've evaluated over 60 forex brokers, using a testing methodology that's based on 100+ data-driven variables and thousands of data points. Also take a look at our full-length, in-depth forex broker reviews.
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Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.
About the Editorial Team
Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
John Bringans is the Managing Editor at ForexBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.