Best Forex Brokers for MetaTrader 5
MetaTrader 5 is the multi-asset successor to MetaTrader 4, known for advanced charting, additional timeframes, built-in depth-of-market data, an integrated economic calendar, the MQL5 language for expert advisors, and a multi-currency strategy tester for backtesting. Because the software is identical across providers, choosing an MT5 broker comes down to spreads, commissions, order execution speed and quality, the range of markets available on the platform, and the strength of each broker's regulation.
We evaluated MT5 brokers against those criteria and assessed their overall trustworthiness. All brokers listed here offer MT5 and are regulated by at least one major authority. Here are our selections.
- 1
Pepperstone
Best Overall4.6/5Regulated by ASIC · FCA · BaFIN · Min. deposit $0
Pepperstone stands out as the best all-around forex broker for MetaTrader 5. Its Razor account pairs MT5 with raw spreads starting at 0.0 pips, low commissions, and quick, reliable execution. It also includes Smart Trader Tools that enhance the platform with additional indicators, alerts, and order types. On MT5, traders can explore a broader selection of multi-asset instruments and timeframes, access built-in market depth, and use the MQL5 language to develop advanced expert advisors. Active traders have access to complimentary VPS hosting, available once a monthly volume threshold is met, allowing them to run automated strategies continuously with minimal latency. Pepperstone, founded in 2010 and regulated by the FCA, ASIC, and other top-tier authorities, offers affordable MT5 trading alongside robust security measures, making it a leading overall choice.
- 2
IC Markets
Best for Day Trading4.4/5Regulated by ASIC · CySEC · FSA · Min. deposit $100
IC Markets is the go-to MetaTrader 5 broker for day traders who prioritize speed and tight spreads during trading hours. Founded in Sydney in 2007, it is regulated by ASIC and CySEC. The broker offers raw spreads as low as 0.0 pips and routes MT5 orders through Equinix data centers to minimize latency. There are no restrictions on scalping, hedging, or the use of expert advisors. Clients who meet modest monthly volume thresholds can access free VPS hosting, allowing automated strategies to run close to the servers. MT5 offers deeper market insights and a wider variety of order types, making it ideal for rapid intraday trading. For active traders, it’s hard to find a better option on MT5.
- 3
Forex.com
Best for US Traders4.5/5Regulated by NFA · CFTC · CIRO · Min. deposit $100
FOREX.com is the standout MetaTrader 5 broker for US-based traders. Regulated directly by the CFTC and NFA, it is among the few brokers legally permitted to serve US retail forex clients. It supports MT5 alongside MT4, TradingView, and its own platforms. Scalping, hedging, and expert advisors are permitted, and VPS hosting is available for automated strategies. Backed by StoneX, a major global financial services group, FOREX.com offers research and analytics that go well beyond those of most MT5 brokers, including Performance Analytics tools and daily market commentary. For US-based MT5 traders seeking genuine depth, FOREX.com leads the field.
- 4
Oanda
Top Rated Broker4.6/5Regulated by FCA · CTFC · NFA · Min. deposit $0
OANDA is a top-rated choice for MetaTrader 5, known for its long track record and transparent pricing. Founded in 1996, it is regulated by top-tier regulators, including the FCA, CFTC, NFA, CIRO, MAS, FFAJ, and ASIC. It pairs MT5 with market depth, premium add-on tools, and access to forex and a range of CFD markets. There is no minimum deposit, keeping the barrier to entry low, and expert advisors are fully supported on the platform. OANDA offers MT5 alongside MT4, TradingView, and its proprietary OANDA Trade platform, giving MT5 traders a well-regulated, balanced, and research-led home. For traders who value reliability and clean execution, it earns a top rating.
- 5
Vantage
Top Rated Broker4.4/5Regulated by ASIC · FCA · CIMA · Min. deposit $50
Vantage Markets is a top-rated MetaTrader 5 broker that offers low-cost ECN execution and access to a wide range of asset classes. Established in 2009, it is regulated by the FCA in the UK, ASIC in Australia, and other authorities. Its Raw ECN account features spreads as low as 0.0 pips, competitive commissions, and a low $50 minimum deposit. On MT5, users benefit from depth-of-market data, full expert advisor support, and over 1,000 instruments, including forex, indices, commodities, and shares. Additional features include copy trading and free VPS hosting. For those seeking a well-regulated, cost-effective MT5 broker, Vantage is an excellent choice.
- 6
CMC Markets
Best for Range of Currency Pairs4.6/5Regulated by FCA · BaFin · CIRO · Min. deposit $0
CMC Markets offers MetaTrader 5 traders one of the broadest forex selections available, with over 175 currency pairs on the platform, including majors, minors, and a deep list of exotics. This range is especially valuable for traders running pairs strategies or accessing less-liquid currencies, and it reflects one of the industry's widest FX lineups. Founded in 1989 and headquartered in London, the company is regulated by the FCA, ASIC, and other top-tier regulators. CMC supports MT5 alongside MT4, its proprietary Next Generation platform, and TradingView, all with no minimum deposit. While its MT5 spreads are competitive rather than the lowest, the sheer number of tradable currencies sets it apart.
- 7
Fusion Markets
Top Rated Broker4.6/5Regulated by ASIC · FSA · VFSC · Min. deposit $10
Fusion Markets is a top-rated MetaTrader 5 broker, ideal for cost-conscious traders and recognized for offering some of the industry's lowest commissions. Established in Melbourne in 2017, it is regulated by ASIC, a Tier-1 financial authority. Its Zero account offers raw spreads as low as 0.0 pips and a round-turn commission of $4.50 per standard lot, outperforming many larger competitors. There is no minimum deposit requirement, and MT5 provides access to stock CFDs, forex, indices, commodities, and cryptocurrencies. The platform also provides full expert advisor support and complimentary VPS hosting. International clients are managed through offshore entities, so traders should confirm which regulatory coverage applies to their situation. For traders who prioritize low-cost MT5 trading, Fusion Markets remains a strong and attractive option.
- 8
AvaTrade
Best for Beginners4.5/5Regulated by ASIC · CySEC · IIROC · Min. deposit $100
AvaTrade is an excellent MetaTrader 5 broker for beginners, offering a comprehensive set of educational tools and integrated risk-management features. Established in 2006, it is regulated by top-tier authorities, including ASIC, CySEC, CIRO, and the Central Bank of Ireland. The broker offers a structured trading academy, a free demo account, and AvaProtect, which allows traders to insure individual positions against losses for a set period. MT5 is available alongside MT4, the AvaTradeGO app, and copy-trading services, all of which require a $100 minimum deposit. Its extensive learning resources make it ideal for newcomers seeking guided, less intimidating access to MT5.
- 9
XM
Best for Low-Cost Entry4.3/5Regulated by CySEC · FSCA · FSA · Min. deposit $5
XM offers the lowest entry barrier among the brokers listed here, and its Micro account is the standout feature. You can open XM’s Micro account on MetaTrader 5 with as little as $5 and trade in micro-lots, where one lot is 1,000 units of the base currency rather than the standard 100,000. On EUR/USD, a 0.01 lot is roughly $0.10 per pip, so beginners can trade real money on MT5 while keeping position sizes and risk very small. The Micro account uses the same MT5 platform, instruments, and commission-free pricing as XM's larger accounts, leaving room to scale up without changing broker or platform. XM has operated since 2009 and is regulated by CySEC, ASIC, and others. For learning MT5 with minimal capital at stake, the Micro account is hard to beat.
How we selected the best forex brokers for MetaTrader 5
Because MetaTrader 5 is the same across all brokers, we focused on the differences: spreads and commissions on MT5, execution speed and reliability, support for MQL5 expert advisors, VPS hosting options, the range of markets available (forex, indices, commodities, shares, etc.), and the strength of each broker's regulation.
Trading costs and execution quality were prioritized because they have the greatest impact on results. We preferred brokers that support automated and high-frequency trading without limitations. Brokers lacking MT5 were excluded, regardless of the strength of their proprietary platforms.
Best forex brokers for MetaTrader 5 at a glance
| Broker | Best for | MT5 highlight | Minimum deposit | Regulation |
|---|---|---|---|---|
| Pepperstone | Overall | Razor raw spreads, Smart Trader Tools, volume-gated free VPS | None | FCA, ASIC, BaFin, CySEC, DFSA, CMA, SCB |
| IC Markets | Day trading | Raw ECN spreads and Equinix low latency | $200 | ASIC, CySEC, FSA (Seychelles) |
| FOREX.com | US traders | CFTC/NFA-regulated with deep research tools | $100 | NFA, CFTC, CIRO, FCA, ASIC, SFC, FSA, MAS |
| OANDA | Top rated | MT5 multi-asset with depth of market and premium tools | None | FCA, CFTC, NFA, ASIC, MAS, CIRO, MFSA, FFAJ, BVIFSC |
| Vantage Markets | Top rated | Raw ECN, native TradingView inside MT5, copy trading | $50 | FCA, ASIC, FSCA, CIMA, VFSC, MFSC |
| CMC Markets | Range of currency pairs | 175+ pairs including major, minor, and exotics | None | FCA, ASIC, CIRO, BaFin, FMA, MAS, DFSA |
| Fusion Markets | Top rated | Raw ECN spreads with one of the lowest commissions | None | ASIC, VFSC, FSA (Seychelles) |
| AvaTrade | Beginners | Strong education, AvaProtect risk tool, copy trading | $100 | ASIC, CYSEC, IIROC, FFAJ, ISA, ADGM-FSRA, CBI, BVIFSC, FSCA, SFC |
| XM | Low-cost entry | $5 minimum, Micro account micro-lot trading (0.01 lot ≈ $0.10/pip) | $5 | CYSEC, FSCA, FSA, FSC |