Best MetaTrader 5 (MT5) Brokers for 2024
With an abundance of online trading companies providing the MetaTrader 5 (MT5) platform, establishing the Best MT5 Forex Brokers for 2024 requires a lot of time and effort. With that in mind, we have produced a handy guide in which the Top MT5 Brokers are examined according to a thorough process of research and analysis.
In our detailed review of the Best MetaTrader 5 Brokers, using criteria from our proprietary FX Trust Score Index, we assessed the most important factors when it comes to each broker’s MT5 platform offering. We also explored additional features including their regulatory compliance, fund security protocols, customer service hours, trading conditions, and online reputation. Take a look at which MT5 Broker took first place and which others made it into our Leaderboard.
Best MT5 Broker Leaderboard
Score: 4.85 / 5
Stop Out Protection on MT5 Commission-Free Accounts Customisable Leverage Ultra-Fast Order Execution 24/7 Customer Support
Score: 4.65 / 5
One-Click Trading Exclusive MT5 Tools Integrated Reuters News MT5 VPS Hosting Informative MT5 Tutorials
*Trading carries a risk of loss
Score: 4.5 / 5
Multi-Regulated in 9 Jurisdictions News Streaming on MT5 Multi-Threaded Strategy Tester Built-In MT5 & MQL5 Guides
Score: 4.45 / 5
60+ Currency Pairs Raw Spreads from 0.0 Pips Algorithmic Trading Tester MT5 Trade Analysis Tools
Score: 4.15 / 5
Regulated by Tier-1 Authorities Impressive ‘HFcopy’ Account VPS Hosting on MT5 Superior MT5 Analysis Tools
Score Breakdown
See the breakdown showing how the Best MT5 Forex Brokers for 2024 performed across six important criteria in our FX Trust Score Index.
| Regulatory Compliance | Security & Fund Protection | ||
| AvaTrade | 5/5 | AvaTrade | 5/5 |
| Exness | 5/5 | Exness | 5/5 |
| Forex.com | 5/5 | Forex.com | 5/5 |
| HF Markets | 5/5 | FP Markets | 5/5 |
| FP Markets | 3/5 | HF Markets | 5/5 |
| Customer Support | Trading Conditions | ||
| Exness | 5/5 | Exness | 4/5 |
| FP Markets | 5/5 | Forex.com | 4/5 |
| AvaTrade | 3/5 | FP Markets | 4/5 |
| Forex.com | 3/5 | AvaTrade | 3/5 |
| HF Markets | 3/5 | HF Markets | 3/5 |
| MT5 Trading Tools | Online Reputation | ||
| AvaTrade | 5/5 | AvaTrade | 5/5 |
| Exness | 5/5 | Exness | 5/5 |
| Forex.com | 5/5 | Forex.com | 5/5 |
| FP Markets | 5/5 | FP Markets | 5/5 |
| HF Markets | 5/5 | HF Markets | 4/5 |
*Where scores are tied, brokers are listed in alphabetical order.
The FXTS Verdict
After conducting a rigorous assessment into numerous online trading companies, Exness emerged as the Best MT5 Forex Broker. It performed consistently well across several important areas, receiving high scores for its dedication to regulatory compliance and the security of clients’ funds, while its highly-competitive trading conditions helped it stand out from its nearest competitors as a Top MT5 Broker.
With regards to the rest of the brokers listed above, Forex.com presented an impressive MT5 offering, particularly in terms of the unique additional features added onto the platform. Moreover, AvaTrade’s strong regulatory status and built-in MT5 & MQL5 guides make it a good option, while FP Markets and HF Markets both offer impressive MT5 analysis tools.
How did we choose the Best MT5 Forex Brokers for 2024?
This insightful review focused on a selection of the Best MT5 Forex Brokers in 2024, assigning a score to each company based on criteria set out by our in-house FX Trust Score Index. The final leaderboard was generated after a careful evaluation of the six key components discussed outlined above. By detailing the Best MT5 Forex Brokers in this article, we hope that traders of all backgrounds can make a better-informed judgement about the MT5 broker that is most suited to their specific trading preferences.
FAQs
When deciding which broker is best for MT5, traders should first establish their individual trading needs before making any comparisons. There are many MT5 brokers out there, with some providing a better trading experience and greater fee transparency than others. Look out for the specific trading conditions provided by each broker, including commissions, spreads, and leverage rates, which is usually listed on their website. Use the overview guide above to find out more about the top performing brokers offering the MT5 trading platform.
Yes, MT5 is a solid and reliable trading platform that is suited to the trading strategies of both beginner and experienced traders. MT5 traders can enjoy a high level of flexibility thanks to a plethora of advanced chart analysis tools, including technical indicators, analytical objects, timeframes, depth of market (DOM), automated trading, economic calendars, and many more. To conclude, the MT5 platform represents an excellent choice for traders that require comprehensive market analysis and trading capabilities.
No, the MT5 platform is required in order to access the financial markets for live trading. Without a broker, traders will be unable to analyse quotes or execute live trades. Brokers essentially act as an intermediary, streamlining the trading process by connecting traders to the global markets via MT5 across multiple devices. Scroll up to find our guide to the best MT5 brokers currently available.
You can find a broker for MT5 by visiting the official websites of each broker where the full list of platforms offered are usually clearly displayed. If the MT5 platform is not shown there then it could mean that it is either not available in certain geographic regions or that the broker does not offer it at all. If something is unclear, it is recommended that traders contact the broker’s customer support team for assistance.
There is no single, standardised minimum deposit for the MT5 platform, as it varies significantly depending on the broker and account type chosen. Some brokers require extremely low minimum deposits, catering to beginners or those with limited funds, while others feature much higher requirements, upwards of $100 or more, especially for accounts offering more features or lower spreads. Remember to check the exact initial deposit requirements of each broker before opening an account with them.
Yes, it is possible to make money on MT5 through the successful trading of financial instruments. However, profitable trading requires a good understanding of the markets, sound risk management, and an effective trading strategy. While many traders do make money, trading involves significant risk, and not all traders are consistently profitable. To give traders a better chance of making money on the MT5 platform, some brokers offer educational resources such as trading guides, webinars, and eBooks. Continuous learning, practice, and disciplined trading are key to improving the chances of success on MT5.
