Best MetaTrader 5 (MT5) Forex Brokers for 2026
Led by Steven Hatzakis, Director of Online Broker Research, the ForexBrokers.com research team collects thousands of data points across hundreds of variables. We evaluate features important to every kind of forex trader, including beginners and active traders. We carefully track data on international regulators, commissions, and spreads to rate forex brokers across our proprietary testing categories.
Our researchers open personal brokerage accounts and test all available platforms on desktop, web, and mobile for each broker reviewed on ForexBrokers.com. Learn more about 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 |
|
|
0.62 | $200 |
|
|
|
1.1 | $0 |
|
|
|
1.3 | $100 AUD |
|
|
|
1.00 | $100 |
|
|
|
N/A | $10 |
|
Best MetaTrader 5 (MT5) brokers
When testing MT5 brokers, I download the latest version of the software and load the full list of available symbols for each broker. The core MetaTrader experience often varies little from one broker to another; to differentiate I evaluate the range of markets, account types, trading fees, execution methods, and availability of third-party plugins and custom indicators.
I also factor in whether brokers offer VPS hosting and other tools that support algorithmic trading on MetaTrader platforms. Learn more about how we test brokers and check out 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: 83
- 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
- Competitive pricing and low average spreads.
- 3,500+ tradeable symbols and powerful algo trading support.
- MetaTrader broker with integrated third-party plugins.
- Educational content and research still have room for improvement.
- No proprietary forex trading app.
- Share trading is limited to Aussie stocks via IC Shares.
- Minimum Deposit: $0
- Trust Score: 94
- 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
- Won Best in Class for MT5, algo trading, and more.
- Offers MetaTrader and cTrader for algo and copy trading.
- Razor account pricing is competitive for active traders.
- New mobile app has solid features and strong usability.
- Education lacks depth.
- MT5 offering has limited symbols.
- Minimum Deposit: $100 AUD
- Trust Score: 90
- 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 10,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option. Read full review
- Ultra-competitive spreads on Raw ECN account.
- Supports MetaTrader, cTrader, TradingView, and Autochartist tools.
- Access to 10,000+ tradeable symbols via the Iress platform.
- Mobile app lacks in tools and charting.
- Research and education content trails leading brokers like IG.
- Iress platform fees add up.
- 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
- Trading Academy is great for all experience levels.
- Advanced charting through TradingView with 5,500+ symbols.
- Pro-grade trading tools on web and desktop.
- Spreads are higher than other low-cost brokers.
- Pricing is average unless you qualify for active trader discounts.
- Stock and futures trading require a separate StoneXone account.
- Minimum Deposit: $10
- Trust Score: 80
- Tradeable Symbols (Total): 209
Exness is a global forex broker best known for its flexible execution, instant withdrawals, and access to extremely high leverage, alongside multiple account types and a growing ecosystem of trading tools. Read full review
- Innovative web platform with drag-to-modify order features.
- Wide forex coverage with 96 pairs and flexible account types.
- MetaTrader, Trading Central, and social trading all supported.
- Newly improved educational content on the Insights blog.
- Research content is limited and lags behind top-tier brokers.
- Narrow product range with just over 200 total tradeable symbols.
- Spreads on Standard Cent accounts are higher than other account types.
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.
Other MetaTrader 5 brokers I tested
6. Tickmill – Great VIP account for MetaTrader
| Company | Trading Platforms | Average spread (EUR/USD) - Standard account | Forex Pairs (Total) |
|
|
|
1.70 | 63 |
For algorithmic traders using MetaTrader 5, Tickmill offers an infrastructure optimized for pure efficiency. The Raw Account delivers an all-in cost of roughly 0.7 pips on EUR/USD, critical for preserving alpha in high-frequency strategies. Beyond execution, Tickmill subsidizes VPS hosting for automated systems and enhances the default MT5 terminal with the Advanced Trading toolkit (powered by FX Blue), adding essential utilities like correlation matrices and sentiment analysis that standard installations lack.
7. CMC Markets – Low cost trading on MT5 with FX Active
| Company | Trading Platforms | Average spread (EUR/USD) - Standard account | Forex Pairs (Total) |
|
|
|
1.3 | 141 |
By connecting CMC Markets' FX Active account to MetaTrader 5, you gain access to institutional-grade pricing. You get raw spreads from 0.0 pips with a highly competitive $2.50 commission per side, creating an environment where costs won't eat your alpha. While the asset list on MetaTrader is smaller than their proprietary platform, the combination of a 99 Trust Score and this aggressive pricing model makes it a great choice for cost-conscious algo traders.
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.
Other Forex Trading Platform Guides
- Best cTrader Brokers for 2026
- Best Copy Trading Platforms for 2026
- Best MetaTrader 4 (MT4) Brokers for 2026
- Best Trading Central Forex Brokers for 2026
- Best Brokers for ZuluTrade for 2026
- Best Brokers for TradingView for 2026
Popular Forex Guides
Our team has spent countless hours opening demo accounts, navigating forex platforms, and conducting market research to evaluate forex and CFD broker offerings.
Steven Hatzakis Jan 28, 2025
Find the best copy trading platforms for forex in 2026. Compare regulated brokers, top apps, and learn how to copy trades from expert traders in real-time.
Steven Hatzakis Aug 1, 2023
Not all mobile apps offer traders the same forex trading capabilities. This guide covers which brokers offer the best forex trading apps in 2026.
Steven Hatzakis Jan 10, 2022
A list of the best Swiss forex brokers that are FINMA authorised in Switzerland
Steven Hatzakis Jan 10, 2022
For our 2026 Forex Broker Review we assessed, rated, and ranked 32 international forex brokers. Here are our findings.
Steven Hatzakis Jan 10, 2022Popular Forex Broker Reviews
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and nearly 12,000 tradeable instruments
Steven Hatzakis Jan 10, 2022
Tickmill is a run-of-the-mill MetaTrader broker that offers a limited selection of tradeable securities.
Steven Hatzakis Jan 10, 2022
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform.
Steven Hatzakis Jan 10, 2022
Traders choose Swissquote for its quality research and vast multi-asset offering.
Steven Hatzakis Apr 4, 2019
FxPro competes among the top MetaTrader brokers, featuring multiple account options and various execution methods.
Steven Hatzakis Jan 10, 2022
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders.
Steven Hatzakis Jan 10, 2022
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets.
Steven Hatzakis Jan 10, 2022
Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
Steven Hatzakis Jan 10, 2022
FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy.
Steven Hatzakis Jan 10, 2022
ACY Securities is a MetaTrader-only broker with a reasonable range of markets and a balanced account offering.
Steven Hatzakis Jan 10, 2022
AvaTrade is a trusted global brand best known for offering an extensive selection of trading platforms for forex and CFD traders.
Steven Hatzakis Jan 10, 2022
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing
Steven Hatzakis Jan 10, 2022
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe.
Steven Hatzakis Jan 10, 2022
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading.
Steven Hatzakis Jan 10, 2022
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
Steven Hatzakis Jan 10, 2022
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, and diverse market research.
Steven Hatzakis Jan 10, 2022
As a trusted multi-asset broker, XTB offers outstanding customer service, a wide variety of forex and CFDs, and an excellent overall trading experience.
Steven Hatzakis Jan 10, 2022
Best known for its mobile trading app, Trading 212 offers an easy-to-use trading platform suite for CFD and share trading.
Steven Hatzakis Jan 10, 2022
Alongside quality research and MetaTrader offering, HFM (HF Markets) offers a proprietary copy trading platform, HFcopy, as well as a decent selection of nearly 1,000 CFDs (including 100+ forex pairs).
Steven Hatzakis Jan 10, 2022
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to share trading and selection of CFDs.
Steven Hatzakis Jan 10, 2022
TD Ameritrade’s thinkorswim platform offers over 70 tradeable currency pairs alongside a plethora of impressive tools, research, and education.
Steven Hatzakis Jan 10, 2022
Traders choose Admiral Markets (Admirals) for its excellent investor education and advanced MetaTrader features.
Steven Hatzakis Jan 10, 2022
Capital.com stands out for its quality research, strong educational content, and innovative web platform.
Steven Hatzakis Jan 10, 2022
Eightcap offers MetaTrader platforms with added third-party plugin support and provides U.K. clients access to TradingView for enhanced charting and analysis.
Steven Hatzakis Jan 10, 2022
A trusted global brand, OANDA stands out for its reputation and quality market research.
Steven Hatzakis Jan 10, 2022
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – and a selection of over 40,000 s securities.
Steven Hatzakis Jan 10, 2022
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, and industry-leading education.
Steven Hatzakis Jan 10, 2022Forex 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.


