Finding a reputable online broker is harder than it should be. We built BrokerNotes to provide traders with the information needed to make choosing a suitable broker easier and faster.

Finding a reputable online broker is harder than it should be. We built BrokerNotes to provide traders with the information needed to make choosing a suitable broker easier and faster.

Looking for metatrader 5 brokers (mt5)? We have compared7broker accounts (out of 147) that are suitable for you below.

BrokerNotes is the fastest way to compare 100+ of the best regulated online trading brokers, so that you can find a reputable and affordable broker faster.

While our site is free to use, some links to brokers use affiliate links which means that – at zero cost to you – we may earn a commission if you sign up for a broker from our site.

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

78% of Pepperstone Limiteds retail investor accounts lose money when trading CFDs

83% of retail investor accounts lose money when trading CFDs with this provider

64% of retail investor accounts lose money when trading CFDs with this provider

79% of retail investor accounts lose money when trading CFDs with this provider

54.3% of retail investor accounts lose money when trading CFDs with this provider

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

MT5 stands forMetaTrader 5, the latest version of the retail forex trading platforms designed by MetaQuotes Software Corp. MT5 was designed as the successor to the highly successfulMT4 platform, which is one of the most popularretail forex trading platformsin the market today. Like previous MetaTrader platforms, MT5 is a dealing desk platform designed as a turnkey solution for brokers, while remaining customisable and adaptable to suit individual needs.

The MT5 platform was first introduced in 2010 and has slowly worked to replace its predecessor in the marketplace. To encourage the transfer of accounts to its newest platform, MetaQuotes recently announced its decision to discontinue selling new licenses for the MT4 platform.

A number of recent changes have been made to the MT5 platform which have increased the usability and popularity of the platform:

Tooltips have now been added to trade execution buttons. This feature enables a display of the number of units of assets being traded, which informs traders about the value of every trade placed in the market.

Market depth information is now displayed in the terminal window.

The journal tab now features older entries first before newer ones, making it easier to track and follow market occurrences.

The automatic copying of TP and SL settings from existing trades to new trades on the same currency pair has been removed.

MT5 offers expanded time frames with 21-time frames available so that traders can now choose the type of quote visualization that best suits their trading system.

Trade volumes are now displayed alongside the asset price of new positions.

The XML format is now available for documentation.

The number of technical indicators has been expanded.

The use of libraries in MQL5 to convert EAs and indicators built with MQL4, in order for them to work in MT5, is now possible.

New statistical functions, as well as updates of existing ones, have been added to the Standard Library.

Advanced settings are now added to the strategy tester.

The MT5 mobile version has a new chat functionality which allows users to interact with other members of the MT5 community website from within the MT5 platform.

While both the MT5 and MT4 platforms have the same origin and developer, they have different coding and incorporate functional variances that might significantly impact a traders profitability. While MT4 has years of community programming support behind it, MT5 has some nice advanced features that may suit certain traders.

The table below summarises some of the more prominent differences between the two platforms at a glance.

Harder to use, but better for advanced traders.

No innate restrictions on trading methods or strategies (like scalping for example), unless modified by a broker. Hedging is allowed.

No innate restrictions on trading strategies, and hedging can be allowed or not, depending on the account. Accounts without hedging use the FIFO rule.

30 built-in indicators plus thousands of custom indicators and EAs. Lacks Market Depth indicator.

38 built-in indicators plus 22 additional analytical objects and 46 graphical objects. Has Market Depth indicator.

Like the MT4 platform, the MT5 platform is available as the following:

The MT5 desktop terminal is the downloadable version of the MT5 which is designed to work on Windows computers. Bothdemoand real account options are available with the desktop version, as well as more than 100 interactive charts, complete with more than 80 indicators and 21-time frames for in-depth technical analysis of currencies, exchange futures, stocks and spot metals.

The MT5 Web Trader is a web-based version of the MT5 platform which can be accessed from any browser or operating system and does not require the download of any software. The broker will provide a unique URL from which the service can be accessed with the traders login details. However, this is a light version of the MT5 and only carries only 24 interactive charts and 30 technical indicators.

The MT5 mobile versions come in two formats: one for the Android phones/tablets and another for the iPhone and iPad. Just like the Web Trader, the MT5 mobile app features 30 built-in indicators. Though a light version of the platform, the MT5 mobile version can send all order types and features the One Click Trading option. The MT5 trading app is available on both the Google Play store and on iTunes.

The MT5 multi-asset institutional platform is ideal for brokerage operations and features assets listed in the forex, stocks, exchange index and commodities futures markets. It is an all-in-one interface which supports white-label licenses, an enhanced back-office, exchange connectivity, and numerous APIs for website integration. Unlike the MT4, the MT5 comes with full hedging functionality.

A highly sought-after feature of MT5 is its algorithmic trading suite. This feature enables the use of forex robots built with the MQL5 programming language. Traders and programmers can use the MQL5 Development Environment to build, test, debug and optimiseautomated trading robots. There is also a development assistant which enables traders with no experience whatsoever to compile very simple robots. The MQL5 is a step higher than the MT4 equivalent as it features elements of C++ to enable developers with advanced training to build more complex expert advisors within the MQL5 IDE. In addition, programmers also have access to sell their programming skills to perform new robot development projects or to sell existing EAs and indicators using the code base.

The Strategy tester enables the optimisation and testing of all software built with MQL5 before they are run on live accounts. Anyone who wants to purchase an EA from the MT5 Community should use the Strategy Tester to evaluate the software before purchase. This can also be done using the demo version of the software.

XM Groupscored best in our review of the top brokers for metatrader 5 (mt5), which takes into account 120+ factors across eight categories. Here are some areas where XM Group scored highly in:

XM Group offers two ways to tradeForex, CFDs. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the brokers trust score. To calculate a brokers trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

trust score, which is good. This is largely down to them being regulated by Financial Conduct Authority, CySEC, and ASIC, segregating client funds, being segregating client funds, being established for over 9

A Comparison of XM Group vs. Pepperstone vs. Admiral Markets

Want to see how XM Group stacks up against Pepperstone and Admiral Markets? Weve compared their spreads, features, and key information below.

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps


Payoneer, Credit cards, Bank transfer, Neteller, PerfectMoney, WebMoney, UnionPay, FasaPay, CashU, Payza, QIWI, SOFORT, Giropay,

Payoneer, Credit cards, Bank transfer, PayPal, Neteller, BPAY, POLi, UnionPay, FasaPay, QIWI, DebitCard,

Payoneer, Credit cards, Bank transfer, Neteller, Skrill, MasterCard, SOFORT, DebitCard,

EAs or Expert Advisors consist of programmed plug-ins that give a trader the possibility of automating their trading strategy by creating a trading programme, or robot, which operates automatically based on market conditions and the status of technical indicators supported by the trading platform.

The MT5 trading platform can be downloaded directly from MetaTraderhere; however, many online brokers that allows clients to use the platform also makes it available for download on their website in a branded version.

The MT5 platform can be downloaded free of charge from the MetaTrader 5 websitehereand from online brokers that offer clients the ability to use the platform.

Scalping, an intraday trading strategy that aims to take advantage of small moves in the market, can be implemented quite successfully on the MT5 trading platform due to its fast one click trading feature. However, the use of this strategy may not be allowed by an online broker that has an explicit prohibition on it, or a broker might impose a required holding time for trades that could make the strategy less viable.

Hedgingremains possible in the MT5 trading platform, although certain brokers and jurisdictions can have different rules when it comes to whether or not traders can hedge positions in this way. For example, many UK-based online brokers allow their UK clients to hedge trades using MT5, and they also net out the traders margin requirements accordingly. This means that if the trader hedges a trade, the margin for the original trade gets reduced upon establishing a hedge, since the hedge trade fully or partially eliminates the risk of the initial position.

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Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.