Best MetaTrader 5 Brokers

Published on 13/12/2023

MetaTrader 5 is the successor to MetaTrader 4, the world's most popular trading platform. We've reviewed the best MT5 brokers in the UK, and highlighted those that allow all trading styles and Expert Advisors.


4.7 / 5 AvaTrade
77.82% of retail CFD accounts lose money

AvaTrade.com is an award-winning online broker, in business since 2006. Trade CFDs on one of the widest possible range of instruments and asset classes, from Forex to ETFs and government bonds.

  • Likes
  • Over 750 financial instruments on MT4/5.
  • Get free daily trading signals.
  • Easily copy professional traders.
  • No fees on deposits or withdrawals.
  • Get one-on-one assistance when you deposit US$1,000.
  • Dislikes
  • You cannot trade on raw spreads.
  • Quarterly and annual inactivity fees.
AvaTrade MT5
Our take on AvaTrade

The breadth of assets available to trade through its platform sets AvaTrade apart from the competition. You'll find over 750 instruments, including currencies, stocks, indices, ETFs (and leveraged ETFs), precious metals, commodities, cryptocurrencies, and government bonds.

AvaTrade supports the MT4 and MT5 platforms, available for Windows and iOS devices. Its web trading platform is sleek, with advanced charting tools. AvaTrade's spreads are competitive and fixed, which can provide a more predictable trading environment, well-suited for beginners.

Its customer service is excellent too. Every time a question has arisen, we've been able to speak to a customer support agent easily through a local telephone number. Our queries were resolved within minutes. AvaTrade support is available five days a week through various channels, including WhatsApp.

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What's the best MT5 broker for you?

MetaTrader 5 (MT5) is a versatile platform popular among traders for its advanced capabilities. Choosing the right MT5 broker depends on your experience and investment preferences. In this article, we will compare and contrast what FP Markets, FxPro and others have to offer.

Based on your experience

Beginners: FPMarkets.com is a good choice for beginners looking to get started with MT5. This broker provides a demo account, making it easier for newcomers to practice without risk. With a minimum deposit of US$ 100 and a straightforward account opening process, beginners can start trading without significant hurdles. FP Markets also offers a wide range of educational resources in the form of trading courses, webinars and PDFs to help new traders learn in their own time(1).

Advanced traders: will appreciate the trading conditions available through FxPro.com. Trade on razor-thin spreads plus commission over the MT5 platform through its Raw+ account from a US$ 1,000 deposit. In 2022, only 13% of client orders experienced negative slippage, 12% enjoyed positive slippage and three quarters were filled at the requested price. It's perhaps no surprise that FxPro has won over 100 awards, including 'Best in Class MetaTrader Broker' in 2020(2).

Swing and day traders: both FP Markets and FxPro offer raw spread accounts with low commissions, suitable for frequent traders. Importantly, they also accept all trading styles, with no restrictions on Expert Advisors and other trading robots. Swap-free accounts, also known as Islamic accounts, are available upon request. Both brokers have partnered with Trading Central to provide their clients with daily signals, however, FxPro's implementation goes one step further by embedding these signals within MT5 through a plugin.

Based on your investment preferences

Forex trading: for Forex traders, Pepperstone.com offers over 90 currency pairs with tight spreads on 1:30 leverage. This makes it an attractive option for those looking to trade major, minor, and exotic currency pairs. However, those seeking to trade currencies on 1:500 leverage should consider FP Markets instead.

Cryptocurrency trading: LiteFinance.com offers the widest selection of CFDs on cryptocurrency pairs, with over 60 tokens on 1:50 leverage. These include Bitcoin, Ethereum, Ripple and Doge, as well as Layer 1 and 2 tokens like Avalanche, Solana and Matic. In addition, LiteFinance is the only broker that pays up to 2.5% interest on your trading account's unused funds.

Stock trading: FP Markets offers the widest selection of CFDs on individual equities, with over 1,000 American and international companies available through its MT5 platform. You can also trade CFDs on leading US, European, and Asian stock indices. The ability to speculate on VIX futures, also known as the 'volatility index', will appeal to technical traders.

Commodities trading: for commodity traders, FP Markets offers a range of commodities, including WTI, gold, silver, and agricultural products on 1:500 leverage. It recently expanded the number of quote currencies against which gold and silver are priced, to include the Pound and the Singapore dollar.

Conclusion

FPMarkets.com, with its comprehensive MT5 offering and high leverage, is a compelling choice for traders with varying experience levels and investment preferences. FxPro.com is another MT5 broker with excellent trading conditions and low spreads. If you're unsure where to start, why not open an account with up to 2 brokers reviewed in this guide. This will allow you to test-drive their service and assess their platform in a live trading environment.

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Author

About the author

I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.

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