FxBrokerReviews.org – Theorizing on the market value of FX pairs is a component of currency trading. Using an MT5 broker is among the most significant ways to do this.
Today, we’ll examine the top MT5 brokers based on various factors, including leverage, accepted trading pairs, trading costs, and analytical tools.
Select the ideal broker to connect the account before starting an MT5 download. Choosing the best broker cannot be easy because so many of them provide this trading software. The powerful charting and selling tools MT4 and MT5 offer are another reason many traders search for the best MT4 brokers.
Also read: The Best MetaTrading4 Brokers in 2022
Metatrader 5: What Is It?
Retail users can access financial markets, including FX, equities, and futures, using the trading platform Metatrader 5. Mobile phones and tablets can download the platform. Android and iOS mobile devices both support the MT5 app.
Additionally, traders can use MetaTrader 5 for Mac or Windows to access the platform. Additionally, many brokers enable consumers to access MT5 using a regular web browser.
Trades can be placed manually or automatically using the third-party platform by traders registering with an MT5 brokerage. To make use of the platform’s analytical and robotic tools, many traders look into the best MT5 brokers.
The software also offers several order types, MT5 indications, and price charts to aid traders in market forecasting. Traders can design their signals using the MQL5 programming language used by the MT5 platform.
What Products Does MetaTrader 5 Support?
MT5 forex traders may be unaware of how many different assets are accessible on the platform.
MT5 has additional features than the MetaTrader 4 platform, which it replaces. More order types, periods, indicators, and tradeable CFD instruments are part of this. You can also trade in more markets.
Below are a few typical MT5 trading options:
- Forex – As traders looking for the top MT5 forex broker are familiar, this involves buying and selling commodities like EUR/USD in pairs. If traders correctly predict which direction the currencies will go, they will profit. Depending on the MT5 broker they use, a trader will have exposure to a certain number of pairs.
- Stocks – MetaTrader 5 brokers also allow you to buy and sell the shares of publicly traded corporations.
- Cryptocurrencies – Digital currencies, such as Bitcoin and Dogecoin, can be traded on some MT5 trading platforms.
- CFDs – The price of the underlying share, currency pair, crypto-asset, or resource is tracked by CFDs, a particular form of instrument. Due to the ability to go long or short on their preferred asset, traders can profit from both rising and declining markets.
Also read: A Complete Guide on CFD Trading
What can be traded on MetaTrader 5 will vary depending on the broker and the trading environment. Notably, people searching for the best MT5 US forex brokers may have fewer options because many focus on CFDs, which are restricted nationwide.
The top broker for MetaTrader 5 has been recognized, and we’ve also analyzed some other excellent options. For traders, information on fees, asset diversity, account kinds, and other topics is provided below.
1. Libertex – Overall Best MT5 Broker for 2022
Libertex is a CFD trading platform and low-spread forex broker. More than 55 currency pairings are available for trading. Major, minor, and exotic pairs are included here. There is a spread involved in currency trading.
At Libertex, the spread, on the other hand, begins at 0.0 pips. One of the best features of this MT5 trading platform is that clients can trade using CFDs rather than acquiring ownership of the underlying value.
For those unfamiliar, this includes betting on the direction that the asset price will go. This enables individuals to attempt to profit from both rising and declining markets.
A tiny commission is charged; the amount varies depending on the account and market cap and starts at 0.03%. The maximum leverage (often referred to as a multiplier at Libertex) is 1:30 for ordinary traders and 1:500 for professional traders.
This implies that retail traders have access to a 30x increase in their position size over what they would typically have. Use of this should be done carefully since leverage will also increase losses if the trader makes a mistake.
Several analytical tools are available to traders, including technical indicators, customizable charts, and choices for automating portfolio construction. Libertex accepts a variety of payment options for funding trading accounts.
This includes credit/debit cards and banking services like iDEAL, Trustly, Sofort, GiroPay, eService, and others. Additionally, Libertex accepts deposits made using e-wallets like PayPal and Neteller. On the Libertex website, traders can view what is offered in their home nation.
Favorite Things
- One of the top forex brokers available;
- Highly competitive spreads starting at 0.0 pip;
- A CFD broker with awards; and
- Highly competitive spreads.
- For experienced traders, leverage up to 1:500
- A welcome bonus is provided.
- Excellent forex trading application for iOS and Android.
2. AvaTrade – High Leverage, Regulated MT5 Trading Platform
One of the most secure MT5 forex brokers is AvaTrade. Compliance guidelines must be followed in all areas, including managing funds, protecting money, and regular financial analysis.
The FSCA, FSA, ASIC, and other organizations regulate it. Customers that qualify may trade with leverage up to 1:400. As a result, the trader can increase their profits by 400 times if they are successful in speculating on a pair’s price movements.
Although high leverage forex brokers are fantastic, beginners should exercise caution because losses are amplified on losing trades. For clients in the UK, Australia, and Europe, the highest leverage is 1:30. At AvaTrade, more than 1,250 instruments are available. There are more than 60 currency pairs in this.
Trading currency pairings entails no commission fees. There is now simply the spread to pay. As an illustration, the space on EUR/USD is from 0.9 pips at the time of publication.
Favorite Things
- Platform that is simple to use.
- Multiple bodies that regulate it.
- The MetaTrader5 app offers more than 1,250 trading assets.
Also read: AvaTrade Broker Review 2022
3. Pepperstone – licensed broker offering CFD Razor accounts with ZERO spreads
ASIC, the FCA, and the DFSA regulate the MT5 broker Pepperstone. The raw spread is marked up by one pip in the regular Pepperstone account, and there is NO commission.
The EUR/USD standard spread begins at 0.6 pip. One of the top scalping brokers is this one. The Razor account at Pepperstone provides raw spreads starting at 0 pip. There will be a brokerage charge in this situation.
Users can trade on MT4 or MT5 and purchase and sell CFDs using automated EAs on Pepperstone. Several payment options are accepted by this broker, including bank transfers, credit/debit cards, and e-wallets like Skrill and PayPal.
Pepperstone recommends a $200 deposit, although traders can fund their accounts with any amount they like. Trading positions can be leveraged up to 1:500 according to the location. The retail client limit is 1:30. At Pepperstone, you can trade more than 60 different currency pairs.
Favorite Things
- Over 1,200 trading instruments;
- High leverage up to 1:500.
- More than 60 trading pairs.
Also read: Pepperstone Broker Review 2022
4. Forex.com – Gain Exposure to a Range of Markets at Competitive Fees
More than 80 currency pairs are available on Forex.com, which welcomes customers from all around the world. Notably, unlike many forex brokers, this company accepts US customers. But only on specific platforms. MT5 is unfortunately excluded from this.
Traders from the US can create an account using the MT4 platform, which can be accessed on desktop, smartphone, and tablet devices. Different process types and trading tools are available in MT4.
At Forex.com, eligible customers can engage in MetaTrader 5 trading and get enhanced charting with various indicators, tools, and timeframes. The site claims the usual spread on EUR/USD is under 0.2 pip.
Within its curriculum, Forex.com provides a variety of educational courses and manuals in addition to real-time news. PayPal, credit/debit cards, and wire transfers are all accepted payment methods.
Favorite Things
- More than 9,500 trading goods
- Accepts PayPal payments in USD, EUR, and GBP.
- Instead, US clients can use MT4 to trade FX.
5. FP Markets – Low Commission on Over 10,000 CFD Products
One of the top MT5 forex brokers for asset variety is FP Markets. Through MT4 and MT5, FP Markets provides more than 10,000 CFD solutions. Standard and raw forex account types are available with MT5.
The account will determine the spread of currency pairs. For instance, the latter starts at 0 pips while the ordinary account allows spreads starting at 1.
Traders can access over 60 forex pairs regardless of the account they select. Individual customers have access to leverage up to 1:30, and the minimum trade size is simply 0.01 lots. A free demo account is also offered.
Favorite Things
- Raw MT5 accounts offer spreads starting at 0.0 pip;
- Over 10,000 tradable CFD products;
- Multilingual 24/7 customer support.
6. Oanda – Licensed Forex Broker for US Traders
A trustworthy forex broker with eight licensed marketplaces is Oanda. The CFTC, MFSA, FCA, ASIC, FSA, FSC, MAS, and IIROC all have jurisdiction over the platform.
This MT5 trading platform offers more than 70 pairs for buying and selling. A built-in economic calendar is another feature that enables traders to always stay on top of the news.
The user only needs to log in or register for an account, making it simple to connect Oanda to MT5 directly through the forum.
Two price ranges are available from the broker. Core pricing plus the spread comes first. This spread starts at 0.0 pips and has a $1 million commission of $50. The spread-only model is the second.
Favorite Things
- Acknowledges US customers;
- Is governed by several agencies;
- Offers a variety of pricing structures.
7. FBS – An Easy-to-Use MT5 Broker with Up to 1:3000 Leverage
FBS is a global MT5 broker that provides services to the bulk of Europe, Asia, the United Arab Emirates, and South Africa. It is noteworthy that this MT5 broker permits currency trading with leverage up to 1:3000.
STICPAY, Visa, Neteller, Skrill, PerfectMoney, and Neteller are all instant deposit options. The latter entails a 2.5% fee and a $0.03 charge. PerfectMoney may also charge unspecified commission fees.
Favorite Things
- Numerous accounts to choose from
- A maximum leverage of 1:300
- Spread starting at 0.0 pips.
Also read: FBS Broker Review 2022
8. FXPro – Micro-Lot Trading on Over 2,100 Instruments Starting at 0.01 Pips
More than 2,100 trading products are available at FXPro, and many types of accounts exist. All platforms provide trading in micro-lots of 0.01 or more.
The available leverage will vary depending on the trader’s country, the platform, and the item being purchased or sold. The system and institution will affect the spread forex traders must pay.
For example, the FXPro platform claims that MT5 accounts provide commission-free trading and markup spreads. On seven essential currency pairs, the MT4 version provides set spreads.
Favorite Things
- Over 2,100 trading options
- Leverage of up to 1:200
- Ultra-quick execution.
9. XM – Spread-Free Trading MT5 Broker
Successful web broker XM has many different account kinds. A standard, micro, and XM zero account are included in this. The latter provides a spread with a zero-pip starting point.
Spread-free account transaction fees should be considered because they are frequently determined by trading volume. At XM, there are more than 55 currency pairs and over 1,000 trading products.
Customers of XM have access to a demo account that is preloaded with $100,000 in virtual funds to trade with. There are many ways to deposit money, including local and wire transactions, credit/debit cards, and a variety of e-wallets.
Favorite Things
- More than 1,000 trading instruments;
- a variety of accounts;
- some accounts with spreads as low as 0.0 pip;
Also read: XM Broker Review 2022
10. Blackbull Markets: Over 23,000 Instruments on a Forex and CFD Trading Platform
Even on its regular account offering, Blackbull Markets allows traders a maximum leverage level of 1:500 for forex. There is no commission to pay on the same account, and the spread begins at 0.8 pips.
A premier account is also available, with a spread that begins at 0.1 pip but a commission of $6 each. Institutional Islamic FX accounts are also available through Blackbull Markets.
At this MT5 trading platform, more than 23,000 markets are available for speculation. There are over 64 forex pairs in this. In collaboration with a variety of social trading platforms, Blackbull Markets. This contains MyFXbook and Zulu Trade.
Favorite Things
- High leverage up to 1:500;
- 23,000+ tradable securities listed
- Standard account for beginners with 0% commission
Conclusion
The top MT5 brokers on the market have been examined and ranked in this guide. Overall, Libertex is the best platform to take into account. Based on the account type selected, the broker provides a good spread that begins at 0 pip.
