6 brokers compared · 2026

Best MetaTrader 5 brokers

MetaTrader 5 is faster than MT4, supports more timeframes, has a built-in economic calendar and handles multi-asset trading. These brokers offer MT5 with competitive pricing.

By the FXBroker research desk · Updated October 2026 · Advertiser disclosure

01IC MarketsRaw spreads and 2,250+ instruments on MT5.
02PepperstoneTier-1 regulated MT5 with raw pricing.
03ExnessMT5 with instant withdrawals and tight gold.
04XMMT5 from a $5 deposit.
05FOREX.comBest MT5 broker for US residents.
06HFMMT5 with Zero account and HFcopy.

#	Broker	Score	EUR/USD	Raw / lot	Min. dep.	Regulators	Platforms	Links
01	IC MarketsScalpers and algo traders who want raw spreads	4.4	0.8pips	$8all-in	$200	ASICCySECFSA (Seychelles)+1	MT4MT5cTraderTradingView	Visit Review
02	PepperstoneActive traders who want tier-1 regulation and raw pricing	4.6	1.1pips	$8all-in	$0	ASICFCACySEC+4	MT4MT5cTraderTradingView	Visit Review
03	ExnessInstant withdrawals and very high leverage	4.1	1.0pips	$7all-in	$10	FCACySECFSCA+3	MT4MT5	Visit Review
04	XMBeginners funding a small first account	4.1	1.6pips	$8all-in	$5	CySECASICDFSA+2	MT4MT5	Visit Review
05	FOREX.comUS traders who want MT4/MT5 and strong research	4.5	1.4pips	$7all-in	$100	CFTCNFAFCA+4	MT4MT5TradingView	Visit Review
06	HFMAfrican and Asian traders who want local payments	4.1	1.4pips	$6all-in	$0	FCACySECFSCA+4	MT4MT5	Visit Review

Spreads are typical values during liquid hours and change constantly. Raw / lot = raw EUR/USD spread converted at $10 per pip plus round-turn commission. Data checked October 2026. How we score.

IC Markets

Raw spreads and 2,250+ instruments on MT5.

4.4/5

IC Markets is one of the largest true-ECN style brokers by forex volume. Its Raw Spread account pairs near-zero EUR/USD spreads with a flat commission, and it supports MT4, MT5, cTrader and TradingView, which makes it a default choice for scalpers, EA users and high-volume day traders.

Pros

Raw spreads averaging around 0.1 pips on EUR/USD
MT4, MT5, cTrader and TradingView all supported
Fast execution suited to scalping and expert advisors

Cons

$200 minimum deposit is higher than XM or Exness
Limited in-house research and education

EUR/USD: 0.8 pips
Raw / lot: $8.0
Min. deposit: $200
Regulators: ASICCySECFSA (Seychelles)SCB (Bahamas)
Platforms: MT4, MT5, cTrader, TradingView

Pepperstone

Tier-1 regulated MT5 with raw pricing.

4.6/5

Pepperstone matches IC Markets on cost while offering stronger tier-1 regulation, including the FCA and BaFin. Its Razor account delivers raw spreads with a low commission across MT4, MT5, cTrader and TradingView, and there is no minimum deposit.

Pros

Razor account with raw spreads and $7 round-turn commission
FCA, ASIC, CySEC and BaFin regulation
MT4, MT5, cTrader and TradingView

Cons

Product range is narrower than IG or Saxo
Not available to US residents

EUR/USD: 1.1 pips
Raw / lot: $8.0
Min. deposit: $0
Regulators: ASICFCACySECBaFin+3
Platforms: MT4, MT5, cTrader, TradingView

Exness

MT5 with instant withdrawals and tight gold.

4.1/5

Exness is one of the highest-volume retail brokers in the world, known for automated instant withdrawals, tight spreads on gold and majors, and very high leverage for eligible offshore clients. It is especially popular in South Africa, Asia and the Middle East.

Pros

Automated instant withdrawals on most payment methods
Tight spreads on gold (XAU/USD) and major pairs
Low $10 minimum deposit on Standard accounts

Cons

Most retail clients are served by offshore entities
Smaller product range than multi-asset brokers

EUR/USD: 1.0 pips
Raw / lot: $7.0
Min. deposit: $10
Regulators: FCACySECFSCAFSA (Seychelles)+2
Platforms: MT4, MT5, Exness Terminal, Exness Trade App

XM

MT5 from a $5 deposit.

4.1/5

XM is one of the most popular forex brokers worldwide, especially in Asia, Africa and Latin America. A $5 minimum deposit, micro lots, frequent webinars and a well-built mobile app make it beginner-friendly, while the XM Zero account offers raw pricing for more active traders.

Pros

Very low $5 minimum deposit and micro accounts
Excellent free education, webinars and daily analysis
MT4 and MT5 on every account type

Cons

Standard account spreads are wider than raw-spread rivals
No cTrader or native TradingView trading

EUR/USD: 1.6 pips
Raw / lot: $8.0
Min. deposit: $5
Regulators: CySECASICDFSAFSCA+1
Platforms: MT4, MT5, XM App

FOREX.com

Best MT5 broker for US residents.

4.5/5

FOREX.com is owned by NASDAQ-listed StoneX and is one of the largest forex brokers in the United States. It offers 80+ currency pairs on its own platform, MT4, MT5, TradingView and NinjaTrader, with both spread-only and commission-based RAW pricing.

Pros

Owned by StoneX, a NASDAQ-listed financial services group
Wide platform choice including MT5 and TradingView
RAW pricing account for active traders

Cons

Standard account spreads are average
Forex only for US clients

EUR/USD: 1.4 pips
Raw / lot: $7.0
Min. deposit: $100
Regulators: CFTCNFAFCACIRO+3
Platforms: FOREX.com Web, FOREX.com App, MT4, MT5

HFM

MT5 with Zero account and HFcopy.

4.1/5

HFM (formerly HotForex) is a popular broker in Africa and Asia, with FSCA, FCA and CySEC regulation, local payment methods and a Zero account for low-cost trading. HFcopy offers built-in copy trading.

Pros

FSCA and CMA licences for African traders
Zero account with raw spreads
HFcopy social trading

Cons

Standard account spreads are average
No cTrader or TradingView

EUR/USD: 1.4 pips
Raw / lot: $6.0
Min. deposit: $0
Regulators: FCACySECFSCADFSA+3
Platforms: MT4, MT5, HFM App

How we chose these brokers

MT5 support: Full MT5 on desktop, web and mobile.
Cost: Raw spread plus commission on MT5.
Range: Instruments available on MT5.
Regulation: Tier-1 licences.

Scores use our standard methodology. Rankings on this page also weight the specific criteria above.

Frequently asked questions

Is MT5 better than MT4?

MT5 is technically superior, with more order types, timeframes and a faster strategy tester. MT4 remains popular because of legacy EAs.

Which US brokers offer MT5?

FOREX.com offers MT5 to US clients.

Can I run MT4 EAs on MT5?

No. MT4 EAs (MQL4) must be rewritten in MQL5.

Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.