Broker | Review | Min Deposit | Spreads | Regulations | Account |
1. BlackBull Markets  | $0 | From 0.0 pips | FMA, FSA | ||
2. FBS Broker  | $5 | From 0.7 pips | CySEC, IFSC and ASIC | ||
3. XM Broker  | $5 | 0.6 pips | ASIC, CySEC, IFSC, DFSA | ||
4. Pepperstone  | $0 | From 0.0 pips | FCA, ASIC, DFSA, CySEC, CMA, SCB, BaFin | ||
5. IC Markets  | $0 | From 0.0 pips | ASIC, CySEC, FSA |
In this article, we will talk about the 5 best MetaTrader 5 brokers that you can trade with.
What is a MetaTrader 5 (MT5) Broker?
A MT5 broker is a broker who gives traders access to the MetaTrader 5 trading platform. MetaTrader 5 platform is a one of the top trading platforms out there. MetaTrader 5 provides traders with all the necessary tools to execute trades and analyse the markets. MT5 also supports algorithmic trading as well.
When choosing the best MT5 platforms, we also considered other important factors. These include, regulations, customer support, trade execution speed and commissions.
After considering all these factors, below are the top 5 brokers who provide the MetaTrader 5 platform for forex traders.
1. BlackBull Markets
BlackBull Markets is one of the best brokers who provide the MetaTrader 5 trading platform. BlackBull markets broker was founded in 2014 in Auckland, New Zealand.
Not only does the BlackBull Markets provide the MetaTrader 5 trading platform, but also provide other great features for traders.
The BlackBull markets broker is regulated by 2 financial regulators, including a top tier financial regulator. These are, Financial Markets Authority (FMA) in New Zealand and Financial Services Authority (FSA) in Seychelles.
The BlackBull markets broker is also a known for its speed of trade execution. The BlackBull markets broker achieved an average execution speeds of less than 75 milliseconds.
The BlackBull Markets broker provides leverage of up to 1:500. If you prefer trading with high leverage, the next broker that we are going to discuss will be more suitable for you.
When it comes to customer support, the BlackBull markets broker provides traders with 24/7 customer support. You can contact this broker through email, phone and live chat.
This broker provides traders with 3 main account types. These are ECN standard account, ECN prime account and ECN Institutional account. The ECN standard account is a no commission account with spreads starting from 0.8 pips.
The ECN prime account charges a commission of $6 per lot and the spreads starts from 0.1 pip. For the ECN institutional account, the spreads start from 0.0 pips and the commission charged from $4 per lot.
To get started trading with the BlackBull markets broker, you do not require a minimum deposit. If you are interested in trading with the BlackBull markets, click the button down below.
2. FBS Broker
Founded in 2009, in Cyprus, the FBS Broker is another great broker that provide traders with the MetaTrader 5 trading platform. The FBS broker is the best broker for high leverage trading. The FBS broker provides a leverage of up to 1:3000.
FBS broker is also highly regulated. The FBS broker is regulated by 3 financial regulators in the industry, including Australian Securities & Investment Commission (ASIC) and Cyprus Securities and Exchange Commission (CYSEC).
When it comes to customer service, the FBS Broker also provides traders with 24/7 customer support. Traders can contact the FBS broker customer support through online chat, email or phone.
The FBS broker provides one main account type called the Standard Account. For this account type the spreads starts from 0.7 pips and the commissions from 0%.
To trade with the FBS broker, you only require a minimum deposit of $5.
If you are interested in trading with a high leverage broker like the FBS broker, click the button down below.
3. XM Broker
The XM broker is also a great broker that provides the MetaTrader 5 trading platform. The XM broker was also founded in 2009 in Cyprus, like the FBS broker.
The XM broker is regulated by multiple financial authorities, including the Australian Securities & Investment Commission (ASIC).
The XM broker provides a high leverage of up to 1:1000. If you prefer high leverage trading, the FBS broker is more suitable for that.
The XM Broker provide traders with 3 main account types. These are, micro account, standard account and ultra low standard account. To get started trading with these 3 account types, you only require a minimum deposit of $5.
There is no commission charged for any of these account types. The spreads start from 0.6 pips.
When it comes to customer support, the XM broker provides 24/5 customer service. Traders can contact the XM Broker customer support through, email, live chat and phone.
4. Pepperstone Broker
The Pepperstone broker is another broker that provides traders with the MT5 trading platform. The Pepperstone was founded in 2010 in Melbourne.
The Pepperstone broker is regulated by the Australian Securities and Investments Commission (ASIC) & Financial Conduct Authority (FCA) which are both top tier regulators.
The Pepperstone provides leverage of up to 1:500 for professional clients but only up to 1:30 for retail clients. This can be a disadvantage if you prefer high leverage trading.
The Pepperstone broker only provides 24/5 customer support. Like the other brokers in this list, you can contact the Pepperstone broker through email, phone and live chat.
The Pepperstone broker provide traders with 2 main account types. These are Razor and Standard account. The Standard account is a no commission account and for the razor account the commissions charged is 3.5 USD per lot, per side.
You don’t require a minimum deposit to get started trading with the Pepperstone broker.
5. IC Markets
The IC markets broker is also a great broker that provides the MetaTrader 5 trading platform.
The IC markets broker is regulated by several regulators, including the Cyprus Securities and Exchange commission (CYSEC).
IC markets provides a leverage of up to 1:500 in certain countries but only a leverage of 1:30 in countries like Australia.
When it comes to customer support, the IC markets broker provides 24/7 customer service. Similar to other brokers, you can contact the IC markers broker through live chat, email and phone.
The IC markets provide traders with 3 main account types. Only two of these account types supports the MT5 trading platform. These account types are the Raw Spread and the standard account. For the standard account, the spreads start from 0.8 pips and no commission is charged. For the Raw spread account, the spreads start from 0.0 pips and the commissions from $3.5 per lot.
To trade with the IC markets broker, a minimum deposit of $200 is required.
Conclusion
In this article, we discussed in detail about 5 forex brokers that provide traders with the MetaTrader 5 trading platform. In addition to this, these brokers are highly regulated by at least 1 top tier regulator and also provide great customer service to traders.
