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The MetaTrader 5 platform was born as an evolution of the still popular and widely used MT4 which is a simpler and lighter model.
The MT5 platform was developed by MetaQuotes, one of the best forex trading platform developers. MetaTrader 5 offers increased tools and capabilities than its predecessor, and is also designed to support several more instruments such as CFDs, stocks, and indices.
Although MT5 provides increased capabilities, it has not automatically replaced MT4.
MT4 allows any programmer to create their own programs and indicators to run them freely on the platform. MT5 offers the same feature, however, it is written using a modern programming language that’s incompatible with MT4. Therefore, all the programs and indicators created by trades via MT4 are not available when using MT5.
Despite this, there’s still plenty of programs to utilise when trading via MT5. If you’re primarily interested in or are already using MT4, you can also benefit from our round-up of the best MT4 brokers.
There are an increasing number of forex brokers offering access to MT5, particularly among some of the best forex brokers in Canada, where the market is slowly opening to the retail traders.
To facilitate the search, we have selected our top 10 of the best MetaTrader 5 brokers for 2022. Here we have collected the names of the most solid, most awarded and most respected (among the most important aspects when you have to choose a broker) brokers to help you in your choice.
Table of contents
Round-up of the best MT5 forex brokers
- Admiral Markets: best MT5 forex broker overall
- AvaTrade: best MT5 fixed spreads
- Vantage: best MT5 ECN execution
- FP Markets: lowest spreads on MT5
- FXTM: award winning MT5 broker
- IC Markets: best for trading with MQL5 EAs
- FBS: best for MT5 beginners
- FxPro: most flexible MT5 environment
- ActivTrades: best MT5 for STP trading
- Exness: best MT5 broker for professional traders
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money
Top 10 forex brokers offering MetaTrader 5: 2022 list
Is MT5 the best trading platform?
Many traders consider MT5 to be the best trading platform because of its versatility. It can be used to trade derivatives as well as futures, crypto or shares and ETFs on the stock market. Moreover, it also supports algorithmic trading.
Which is best, MT4 or MT5?
MT5 is the improved version of MT4. However, many still prefer MT4 because of its thriving community of algorithmic traders.
What is the minimum deposit for MT5?
MT5 is a platform provided for free by brokers to their clients, so there is no specific minimum deposit to use it. It depends on the broker who offers MT5. Generally, the minimum deposits of MT5 brokers range from $0 to $200.
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