Trading forex is a skill – the more you practice it, the more are your chances to succeed. And the odds become higher given the 24-hour functioning of the forex market and a constant fluctuation in the value of foreign currencies due to international Trade. However, even a slight oversight of price movements could put you on the losing side.
Smart traders know how to use the market to their advantage by choosing expert online brokers. These brokers use automated trading platforms, for example, forex MetaTrader 5 (MT5), that require very little trader interference to generate profitable returns.
What Is MetaTrader 5?
MetaTrader 5 is an online multi-asset trading platform developed by MetaQuotes Software Corp. in 2010. It is an upgraded version of its predecessor MetaTrader 4, which is still widely popular among traders. Forex MT5 integrates many tools that facilitate trading on forex, CFDs, indices, commodities, and futures.
MetaTrader 5 performs automated trading using robots and trading signals. The trading platform offers advanced trading tools and features, such as technical indicators, interactive graphics, copy trading, economic calendar, and more timeframes. Traders can access the MetaTrader 5 platform from the web across all devices. There is also a mobile app for it that is completely free to download.
Online leading forex brokers serve traders with the best trading conditions while giving them the freedom of placing trades and managing accounts. In a bid to become better, the world’s leading brokers have turned toward MetaTrader 5 for its improved capabilities. In this article, we will talk about the best forex brokers for the MT5 platform that you can choose to trade conveniently.
1. IC Markets
IC Markets is a licensed online retail forex and CFD broker established in 2007. The broker also provides active day traders with the option of trading in indices, commodities, bonds, futures, and cryptocurrencies. IC Markets is regulated by the Seychelles Financial Services Authority (FSA). Its state-of-the-art execution technology, lower spreads, superior liquidity, and live streaming of prices enable traders to identify and place the best order efficiently.
You can select from cTrader Raw Spread, Raw Spread, and Standard account types that work with different trading platforms. The forex broker is renowned for its cutting-edge trading platforms that help traders to monitor and control their trades. When trading with the MetaTrader 5 platform, traders gain access to its innovative charting and order management tools. Also, the platform is packed with many essential features that aim to improve your trading experience. It does offer active customer support to take care of your problems. Overall, it offers retail and institutional investors a trading solution once accessible to high-net-worth individuals with no high risk of losing money.
- IC Markets has its MetaTrader 5 servers located in the Equinix NY4 data center in New York. These servers, coupled with pricing providers, help the brokers maintain low latency and fast execution speed.
- MetaTrader 5 allows traders to trade without any restrictions on all trade sizes, which means there is no pay margin on hedged trades, no minimum order distance, or no freeze level.
- The MT5 platform provides ideal trading conditions for scalping, high-volume trading, hedging, margin netting, and placement of orders between the spreads.
- The Market Depth feature of MetaTrader 5 displays the bid and ask prices for each currency across markets, sourced from its pricing providers. This transparent pricing structure ensures that the traders get the lowest possible spreads.
- The MetaTrader 5 platform offers multiple payment options for deposits and withdrawals like a credit or debit card, wire transfer, or digital payment.
In short, IC Markets’ integration of the MetaTrader 5 empowers traders to maximize profits and minimize losses.
2. Admiral Markets
Admiral Markets is another leading forex and CFD broker founded in 2001. It is known for its lightning-fast order execution. The broker also supports trading in stocks, commodities, indices, precious metals, energies, and cryptocurrencies. Be it the beginner or professional traders; everyone can take advantage of its flexible accounts to protect their capital against currency price fluctuations. Besides, its supervision by the UK Financial Conduct Authority (FCA) assures traders of the safety of their assets.
Trading is offered via five accounts, such as Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5 and Zero.MT5. The broker is committed to providing traders with transparent trading conditions by giving them access to highly advanced software. This is made possible with its inclusion of the top-notch MetaTrader 5 platform. How a trader can make better-informed trading decisions is ensured by Admiral Markets with its dedicated collection of educational and analytics tools. Its dedicated customer service representatives are ready to help you with your queries anytime.
- MetaTrader 5 offers advanced charting and technical analysis tools. It is fully customizable and comes with the option of automated trading as well.
- The MT5 platform heavily relies on trading robots and built-in technical analysis indicators to execute the best Trade flawlessly.
- You need to be vigilant of market trends as a trader to make money. MetaTrader 5 at Admiral Markets offers you access to a wide range of financial markets so that you do not miss any chance.
- Apart from these, the MetaTrader 5 platform hosts other qualities, such as level II pricing, free market data, news feeds, VPS support, and educational resources.
To sum up, trading operations at Admiral Markets are greatly enhanced by MetaTrader 5 and its comprehensive automated trading tools.
XM is a global online forex and CFD broker founded in 2009. It allows trading in over 1,000 instruments, including indices, shares, commodities, precious metals, energies, and cryptocurrencies from a single trading account. The XM forex broker is licensed by the reputed regulatory agencies Australian Securities and Investments Commission (ASIC), International Financial Services Commission (IFSC), and Cyprus Securities and Exchange Commission (CySEC).
There are four types of accounts for every trader with favorable trading conditions, including Micro, Standard, Ultra-low, and Shares (new traders without trial with demo accounts lose money, to stop losses try demo accounts before a real one). The broker offers an all-in-one platform for trading in the form of MetaTrader 5. Not only does it allow access to multiple assets. With its promise to offer quality services and transparent pricing, XM has proved to be a reliable broker for online forex trading. In case you have any queries or seek guidance, you can contact its customer service executives by email or live chat.
- MetaTrader 5 offers separate accounts for placing orders and trades and supports all types of execution modes.
- Traders can choose MetaTrader 5 to trade forex and CFDs during registration without even worrying about deal rejections or requotes. Also, it features flexible leverage ranging from 1:1 to 888:1.
- It grants instant access to expert advisors, technical indicators, analytical tools, and interactive charts that help traders gain an insight into the trade volume as well as price movements.
- MetaTrader 5 hosts a wealth of resources such as financial news and the economic calendar. You can use them to perform a detailed price analysis and predict the price of a specific instrument.
Simply put, XM has become able to become an industry leader in offering advanced and flexible trading conditions with MetaTrader 5 that suits its diverse trader base across the globe.
RoboForex is an international multi-asset online forex and CFD broker that was established in 2009. The broker offers over 12,000 instruments in 8 asset classes, including indices, stocks, exchange-traded funds, commodities, energies, precious metals, and cryptocurrencies. It is licensed by IFSC, which ensures that the broker provides a safe and transparent trading environment for traders. Also, your data and funds are completely secure with its civil liability insurance program.
You can begin trading with one of five accounts, including Prime, ECN, R Trader, Pro-Cent, and Pro-Standard (70-80% of new traders with real accounts lose money, so need to try a demo account before a real one that involves real money). The forex broker offers exclusive trading platforms developed, keeping in mind the individual requirements of traders. These platforms use SSL encryption to protect the traders’ data and assets. Professional traders can enjoy fully automated trading with MetaTrader 5 trading terminal. Being the most advanced trading platform, MetaTrader 5, helps you create effective trading strategies. You will always get to the point solutions to your problems from its customer service professionals.
- MetaTrader 5 combines pioneering technologies of order execution, multi-currency tester, and pending orders.
- The MT5 platform executes trades at an ultra-fast speed and with higher accuracy using trading robots and innovative algorithms.
- It also provides you access to additional trading features, including copy trading, expert advisors, technical indicators, charts, and timeframes.
- Trading is made simple with attributes like one-click trading, hedging, margin netting, Market Depth, trading signals, and segregated accounts of orders and transactions.
- MetaTrader 5 runs on integrated programming language MetaQuotes Language 5 (MQL5) that allows you to create, configure, and test trading robots.
In essence, MetaTrader 5 gives RoboForex a competitive advantage in the online trading industry while giving traders a comfortable trading experience.
Exness Group is an international award-winning forex and CFD broker that was founded in 2008. Its wide selection of financial instruments includes indices, stocks, commodities, precious metals, energies, and cryptocurrencies. The broker has made a systematic improvement to the trading conditions, making it a preferred choice among both beginners and advanced traders. While adhering to the regulatory standards set by FSA, CySEC, and FCA, Exness Group is dedicated to delivering high-quality services under a credible and safe trading environment.
The broker offers feature-rich trading accounts, including Standard, Raw Spread, Zero, and Pro. Beginners or even forex brokers MetaTrader 5 can try a demo account, with a complete training mode without real money involved. Traders will find an impressive array of trading platforms available with the broker. They are loaded with a set of features intended to aid traders in navigating the financial markets. The inclusion of MetaTrader 5 as an option for trading intends to improve the overall performance by generating new trading opportunities. The availability of its helpful customer service guarantees the best user experience.
- MetaTrader 5 is accessible across all trading accounts and designed to facilitate instant order execution and supports both buy stop limit and sell stop limit types of pending orders.
- There are plenty of functions available such as a new trading language, graphical objects, and hedging.
- Traders can take advantage of its fundamental analysis tools and up to 21 timeframes. By taking the help of the in-built economic calendar and news feeds, you can prepare ahead of expected impacts and forecast the possible outcomes.
- MetaTrader 5 is equipped with in-built market sentiment indicators and analytical tools so that traders can have a rewarding trading experience.
In brief, by upgrading itself to MetaTrader 5, Exness Group has done a fantastic job to provide to its traders a variety of investment options with the most attractive benefits.
MetaTrader 5 is superior to forex MetaTrader 4 in many ways. In contrast with the latter, trading with the former over an exchange is more transparent as it does not require any broker to act as a mediator. With its ease of navigation and exceptional trading tools, MetaTrader 5 has revolutionized online forex trading. Not to mention the above-mentioned best MT5 forex brokers are leading the charge when it comes to meeting traders’ expectations with higher satisfaction.