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MetaTrader 5 Forex Brokers

MT5 brokers list

A list of MT5 Forex brokers that offer MetaTrader 5 as one of the trading platforms. MetaTrader 5 has many new features compared to the previous version of the software (MetaTrader 4). It still supports various expert advisors, custom indicators and scripts, but also provides a better Strategy Tester, news event objects, built-in market for trading products and a more flexible development environment. If you look for a simple trading platform with an outstanding functionality combined with thousands of free indicators and automated strategies, choosing an MT5 Forex broker will give you that. You will find 115 brokers listed in the table below.

Why trade with an MT5 broker?

MetaTrader 5 is not as popular as MetaTrader 4, but it is a trading platform with its distinct features. Consider the following reasons to choose an FX broker supporting MT5:

  • You want only one consolidated position per currency pair.
  • You want one of the best possible backtesting tools in the industry. It comes with free self-downloading high-quality historical data for dozens of currency pairs.
  • You would like to use a built-in Signals service, where trading signals are supplied and executed within one platform, automatically.
  • You develop your own trading tools and would like to use multiple free code libraries and standard classes.

What to be wary of in MT5 Forex brokers?

A broker offering an MT5 platform is a very broad category. There are good and bad companies that offer this platform. You will find wildly different trading conditions on different MT5 brokers. Here, we will sum up the characteristics that you want to avoid in your brokerage:

  • Unregulated with no office address info. Even offshore brokers are registered at the respective business registers or even regulated by financial commissions. When nothing like that can be found about an MT5 broker, it's probably a scam.
  • Bad website design. Subpar quality of the website's design and structure is not only a nuisance for a trader, but also telltale sign that the company isn't serious at all.
  • No demo. Even if you are after a live MT5 account, you will still need a demo account for testing purposes. If an MT5 Forex broker doesn't offer one, it is best to find a different broker.
  • No trustworthy good reviews. There are many dishonest reviews about brokers online. Seek out genuine reviews that convey a trader's experience rather than look like an advertisement. If all that you find are paid reviews, choose another broker.
  • No help from support. Broker support service should be ready to help you and to answer your questions. If support agents are unreachable, if they clearly don't know what they are talking about, or if they provide false information, it's better to dump such a broker immediatelyd.