Discover the best Metatrader 5 brokers in 2024 offering advanced trading tools, seamless execution, and competitive fees for your success. With countless options available, finding a broker that meets your trading needs can significantly impact your success. Among the top contenders this year are ActivTrades, Earn Broker, and OneRoyal, each offering unique features to enhance your trading experience. ActivTrades is renowned for its cutting-edge tools and comprehensive educational resources, making it an excellent choice for both novice and seasoned traders. Earn Broker stands out with competitive spreads and exceptional customer service, ensuring a smooth and supportive trading journey. Meanwhile, OneRoyal provides a diverse range of trading instruments and robust security measures, catering to traders seeking a secure and versatile platform. In this discussion, we delve into what makes these brokers the best choices for Metatrader 5 users in 2024, guiding you to make an informed decision for your trading endeavors.

Best MT5 Brokers in 2024

What is MetaTrader 5?

MetaTrader 5 is a state-of-the-art trading platform developed by MetaQuotes, designed for trading a variety of financial instruments including forex, commodities, and stocks.

It offers a comprehensive suite of analytical tools, customizable charts, and automated trading capabilities, making it a preferred choice for traders worldwide. MT5 supports multiple order types and offers a robust, user-friendly interface that enhances trading efficiency and execution speed.

Differences Between MT4 and MT5

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both popular platforms, but MT5 offers several advancements. While MT4 is primarily designed for forex trading, MT5 supports more asset classes, including stocks and futures. MT5 also features an improved interface with more timeframes, technical indicators, and a built-in economic calendar. Additionally, MT5’s strategy tester is more advanced, allowing for comprehensive back-testing of trading strategies.

Metatrader 5 Brokers Categories

Best for Expertise – One Royal

OneRoyal Broker is a distinguished platform in the financial trading industry, known for its extensive expertise and multi-licensed status. Established in 2006, it offers a wide range of tradeable instruments, including CFDs on forex, gold, cryptocurrencies, indices, oil, and shares. The broker is regulated by several reputable bodies, ensuring a secure trading environment.

OneRoyal provides a high-speed trading environment with advanced technology, including XCore and strategic data centers, ensuring rapid trade execution. It offers flexible leverage up to 1:1000 and competitive spreads starting from 0.4 pips. With a minimum deposit of $50, it is accessible to traders of all levels.

The platform includes premium trading tools like the MT4 Accelerator, Copy Trading, and Trading Central, enhancing the trading experience. OneRoyal also offers a demo account for beginners and two account types—ECN and Zero Commission—catering to different trading preferences.

Best for Strong Regulatory Framework – ActivTrades

ActivTrades is a well-regarded broker in the trading industry, distinguished by its strong regulatory framework that ensures a secure and compliant trading environment. Regulated by top-tier authorities, ActivTrades provides traders with peace of mind through adherence to stringent financial standards.

The broker offers a diverse array of over 1000 trading instruments, including Forex, CFDs, shares, indices, commodities, and cryptocurrencies. This extensive selection allows traders to access a broad range of markets and diversify their investment portfolios. ActivTrades is known for its competitive trading fees, which are generally low, making it an attractive choice for cost-conscious traders.

One of ActivTrades’ key strengths is its accessibility. The broker provides several robust trading platforms, including the globally recognized MetaTrader 4 and MetaTrader 5, as well as its proprietary ActivTrader platform. These platforms are available on desktop, web, and mobile, allowing traders to manage their investments seamlessly from anywhere.

ActivTrades also places a strong emphasis on trader education, offering a wealth of resources to enhance trading skills and market knowledge. These include webinars, tutorial videos, in-depth articles, and even one-on-one training sessions. The personalized training is particularly beneficial, allowing traders to receive tailored advice and insights directly from experts.

Customer support is another area where ActivTrades excels. The broker provides multiple channels for assistance, including live chat, phone, and email support, ensuring traders receive timely help whenever needed. Additionally, ActivTrades prioritizes security through features like segregated accounts, which keep client funds separate from the company’s operational funds, and additional insurance protection covering up to $1,000,000.

Best for Competitive Trading Conditions – IronFx

IronFX is a globally recognized and award-winning leader in online trading services, catering to 1.5 million clients across 180 countries in Europe, Asia, the Middle East, Africa, and Latin America. It provides multilingual support in over 30 languages, ensuring traders from diverse backgrounds receive top-notch assistance.

As a multi-licensed broker regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Financial Sector Conduct Authority (FSCA) in South Africa, IronFX offers a secure and compliant trading environment. This strong regulatory oversight bolsters trust and reliability, making IronFX a secure choice for traders worldwide.

IronFX delivers an extensive range of over 500 tradable instruments across multiple asset classes, including forex, spot metals, futures, shares, spot indices, and commodities. This broad selection allows traders to diversify their portfolios and capitalize on various market opportunities.

The broker stands out with competitive trading conditions, offering ultra-low spreads, instant execution, and zero fees on deposits and withdrawals. It provides a variety of account types tailored to both beginners and professional traders, complete with swap options and accounts in 14 different currencies.

IronFX’s commitment to education is evident through its IronFX Academy, which offers a wealth of educational resources, including trading courses, webinars, articles, and personalized support for traders at all levels. This focus on education helps traders enhance their skills and gain confidence in their trading strategies.

For trading platforms, IronFX offers the widely used MetaTrader 4, as well as its proprietary IronFX mobile and web trader apps, ensuring seamless and flexible trading experiences across devices. The use of advanced tools like Trading Central and Virtual Private Server (VPS) hosting further enriches the trading experience.

Customer support is a priority for IronFX, with a dedicated team available 24/5 to assist clients in multiple languages, ensuring that help is always at hand. The broker’s robust infrastructure, combined with its diverse offerings and client-centric approach, solidifies its position as a top choice for traders around the globe.

Best for Robust Platforms – Admirals

Admirals, formerly known as Admiral Markets, is a distinguished forex brokerage offering a robust suite of trading platforms tailored to meet the needs of both retail and professional traders. Its platforms include the widely acclaimed MetaTrader 4 and MetaTrader 5, as well as the Admirals Trader platform. These platforms are equipped with advanced trading tools and analytics, providing a seamless trading experience for users.

Admirals is highly regarded for its regulatory compliance, being overseen by reputable authorities such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). This ensures a secure trading environment, bolstering trust and reliability for its global clientele.

Traders with Admirals have access to a diverse range of financial markets, including forex, stocks, commodities, and cryptocurrencies. This broad market offering allows both novice and seasoned traders to explore a variety of investment opportunities, catering to different trading styles and objectives.

The broker is committed to education, offering a wealth of resources designed to enhance trading knowledge and skills. These include webinars, comprehensive courses like Forex 101, and weekly podcasts that provide market updates and insights. Such resources are invaluable for traders aiming to refine their strategies and stay informed about market trends.

Admirals also prioritizes customer support, offering multiple channels for assistance, including phone, email, and live chat. The broker’s dedication to safety is evident through its implementation of negative balance protection, ensuring that traders are protected from excessive losses, even in volatile market conditions.

Best for CFD Trading – Earn Broker

Earn Broker is a distinguished investment firm known for its exceptional CFD trading capabilities and strong regulatory compliance with the Cyprus Securities and Exchange Commission (CySEC). Founded in 2011, the broker has quickly established itself as a reliable partner for traders, offering a wide array of CFD instruments across various asset classes, including currencies, indices, commodities, shares, ETFs, and cryptocurrencies. This extensive range allows traders to diversify their portfolios and capitalize on numerous market opportunities.

Earn Broker provides advanced trading platforms equipped with state-of-the-art tools, such as Acuity analysis tools, which assist traders in making data-driven decisions. The broker also offers sophisticated risk management options and customized alert systems to help traders manage their investments effectively and maximize their potential returns. These innovative trading solutions are designed to enhance the trading experience and provide clients with the tools they need to succeed.

The firm’s commitment to excellence is reflected in its numerous accolades, including being named Best Broker of the Year in 2014 and Leading CFDs Broker in 2017. These awards underscore Earn Broker’s dedication to providing high-quality services and maintaining rigorous regulatory standards. The broker also emphasizes customer service, offering robust support through multiple channels, ensuring traders have the necessary assistance whenever needed.

Earn Broker is committed to the education and development of its clients, providing a wealth of resources to help traders enhance their skills and knowledge. Whether through webinars, tutorials, or interactive learning modules, traders have access to valuable information that can aid in refining their strategies and understanding market dynamics better.

Best for Simplified Trading – Skilling

Skilling is a dynamic and innovative broker renowned for its user-friendly platform, designed to cater to both novice traders and seasoned professionals. The platform’s intuitive features make trading straightforward without sacrificing the breadth of assets and tools available. Skilling offers a variety of trading platforms, including the industry-recognized cTrader, MetaTrader 4 (MT4), and its proprietary platform, all accessible via web and mobile applications on iOS and Android. This versatility ensures that traders can engage with the markets using their preferred devices and operating systems.

Skilling provides access to an impressive range of over 900 financial instruments, covering forex, stocks, commodities, and cryptocurrencies. This broad array allows traders to diversify their portfolios and explore various market opportunities. The broker’s commitment to regulatory compliance is evident through its oversight by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) in Seychelles, ensuring a secure trading environment.

Despite Skilling’s focus on simplicity, it does not compromise on educational resources. The platform offers beginner-friendly materials and tools to help traders understand market dynamics and refine their strategies. Customer support is readily available, with multilingual assistance and support channels including email, web chat, and phone, operating from 8 AM to 9 PM EET.

Skilling’s competitive trading conditions further enhance its appeal. The broker offers low spreads starting from 0.2 pips and charges no inactivity fees, making it a cost-effective choice for traders. Additional features like fast execution speeds, micro-lots, hedging, and scalping options cater to a wide range of trading styles and preferences.

Best for Scalable Opportunities and Funding – FundedNext

FundedNext is a forward-thinking forex proprietary trading firm designed to empower traders with scalable funding options and diverse account types that cater to both growth and adaptability in trading strategies. Launched in 2022 and headquartered in Ajman, UAE, FundedNext offers substantial trading capital up to $4 million, coupled with competitive profit shares that can reach as high as 90%. This impressive funding capacity allows traders to significantly expand their trading capabilities, offering a robust platform for both burgeoning and seasoned traders.

With a strategic presence in over 195 countries, FundedNext ensures that its trading solutions are accessible globally, meeting the varied needs of traders across different regions. The firm utilizes the renowned MetaTrader 4 and 5 platforms, providing a reliable and sophisticated trading environment that supports a wide array of instruments, including forex and cryptocurrencies. This adaptability is crucial for traders looking to leverage their positions and optimize their trading strategies.

FundedNext emphasizes strategic market understanding, merging global market dynamics with local trading insights to offer tailored trading solutions. This approach ensures that traders are not only equipped to handle market fluctuations but also to capitalize on them effectively. The firm’s profit distribution model is designed to align trader interests with firm sustainability, offering higher profit percentages as traders meet specific performance milestones. This incentivization structure promotes a disciplined and effective trading approach, encouraging traders to focus on risk management and strategic growth.

Additionally, FundedNext is committed to providing robust educational support and risk management features. Traders have access to detailed trading courses, real-time assistance, and strategic advice to refine their skills and enhance their understanding of market dynamics. This comprehensive support system is vital for traders aiming to optimize their trading approaches and manage risks effectively, ensuring that they are well-prepared to navigate the complexities of the financial markets.

Best for Automated Trading – MFGTrading

MFGtrading Automated Forex Trading Systems stands as a beacon of innovation in the fintech industry, offering cutting-edge automated trading solutions that cater to both individual and institutional clients. The company’s automated trading systems are meticulously designed to deliver efficient and reliable trading experiences, leveraging years of professional expertise in financial markets, risk management, and information technology.

At the core of MFGtrading’s offerings are its sophisticated Automated Trading Systems (ATS). These systems are crafted by seasoned forex traders and are equipped with advanced algorithms to ensure optimal trading results while minimizing human error. Each system undergoes rigorous professional risk management and monitoring, ensuring that they operate smoothly and efficiently. This commitment to professional oversight allows traders to focus on strategy rather than the operational intricacies of trading.

A key feature of MFGtrading’s service is the use of segregated client accounts. By depositing funds into personal accounts with trusted partner brokers or investment banks, clients retain constant access to their accounts, enabling them to monitor trading activity continuously and receive daily statements. This transparency and security are crucial, offering peace of mind to traders who are entrusting their capital to automated systems.

MFGtrading does not function as a CFD broker nor does it accept client deposits. Instead, it plays a pivotal role in connecting clients with reputable forex broker partners where they can open accounts and deposit funds in their own names. This model not only enhances the security of client funds but also ensures compliance with regulatory standards.

For individual traders, MFGtrading offers automated bots that provide anticipatory growth potential through sophisticated trading technologies. These systems are ideal for traders who lack the time, experience, or focus to engage actively with the financial markets. For institutional clients, the company presents tailored automated solutions that help diversify asset portfolios and aim for substantial annual returns.

Despite the clear benefits of automated trading, such as reduced emotional trading and 24-hour market engagement, users must be aware of potential risks. Automated systems can face technical failures, glitches, or inaccuracies in algorithms, and unexpected market events can influence performance negatively. MFGtrading addresses these concerns by offering extensive training and consultancy services, equipping traders with the knowledge they need to manage risks effectively and optimize their use of automated trading tools.

Frequently Asked Questions

What is the best broker for MetaTrader 5?

The best broker for MetaTrader 5 depends on individual trading needs and preferences, with factors like regulatory compliance, platform features, and customer support playing important roles.

Is MT5 a good broker?

MT5 is a platform, not a broker. It is widely regarded as a powerful and versatile trading platform.

Can I trade with MT5 in the USA?

Trading with MT5 in the USA is possible, but it requires using brokers that are compliant with US regulations.

Is MetaTrader 5 legit in USA?

Yes, MetaTrader 5 is legitimate and can be used in the USA with brokers that adhere to regulatory standards.

What is the minimum deposit for MetaTrader 5?

The minimum deposit varies by broker, typically starting at around $100, but can be as low as $10 with some brokers.

Can I trade with 1 dollar on MT5?

Trading with 1 dollar is possible if the broker offers micro accounts, although it may limit trading capabilities.

Can I trade with 10 dollars on MetaTrader 5?

Yes, many brokers offer micro accounts that allow trading with as little as 10 dollars.

What are the minimum requirements for MetaTrader 5?

MT5 requires a computer with Windows 7 or higher, a dual-core processor, 2GB of RAM, and a stable internet connection.

How much money do you need to start trading on MT5?

It is recommended to start with at least $100 to $500 to effectively manage risk and leverage.

What is the minimum withdrawal from MetaTrader 5?

The minimum withdrawal amount is set by the broker, often around $50, but varies across platforms.

Conclusion

Choosing the right MetaTrader 5 broker is crucial for maximizing your trading potential. Whether you prioritize expertise, regulatory security, competitive conditions, or advanced platform features, this guide helps you identify the best brokers for your needs in 2024. MetaTrader 5’s robust capabilities, combined with the right broker, can significantly enhance your trading experience and success.

Disclaimer:

All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partner’s prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.