Author: Eduardo Montero
| Broker | Key Features | Open Account |
|---|---|---|
  XM Group | Regulations: CySEC, IFSC y ASIC Min. Deposit: 5 € / $ Trading Platforms: MetaTrader 4 + MetaTrader 5 |  |
 Pepperstone | Regulations: CySEC, FCA, ASIC, BaFIN, DFSA, CMA y SCB Min. Deposit: 200 $ or equivalent in € Trading Platforms: MetaTrader 4 + MetaTrader 5 + cTrader + Trading View | |
 FP Markets | Regulations: CySEC y ASIC Min. Deposit: 100 € / $ Trading Platforms: MetaTrader 4 + MetaTrader 5 + IRESS | |
 IC Markets | Regulations: CySEC, ASIC y FSA Min. Deposit: 200 € / $ Trading Platforms: MetaTrader 4 + MetaTrader 5 + cTrader | |
 RoboForex | Regulations: IFSC Min. Deposit: 0 € / $ Trading Platforms: WebTrader + MetaTrader 4 + MetaTrader 5 + cTrader + iOS App + Android App | |
 AvaTrade | Regulations: Central Bank of Ireland, FSCA, ASIC, BVI y FSA Min. Deposit: 100 € / $ Trading Platforms: WebTrader + MetaTrader 4 + MetaTrader 5 + iOS App + Android App | |
 FBS | Regulations: CySEC y IFSC Min. Deposit: 1 € / $ Trading Platforms: MetaTrader 4 + MetaTrader 5 + iOS App + Android App | |
 OctaFX | Regulations: FSA Min. Deposit: 5 € / $ Trading Platforms: MetaTrader 4 + MetaTrader 5 + cTrader | |
 Markets | Regulations: CySEC Min. Deposit: 100 € / $ Trading Platforms: WebTrader + MetaTrader 4 + MetaTrader 5 + iOS App + Android App | |
 EXNESS | Regulations: CySEC, FCA y FSA Min. Deposit: 0 € / $ Trading Platforms: MetaTrader 4 + MetaTrader 5 | |
The MetaTrader 5 platform has a large following because of its incredible operability. In this sense, analysing its technical background, a rather encouraging picture emerges with functional options and modes that are very practical. So even if you are not yet familiar with this type of broker, you can learn how to trade online right from the start with its intuitive platform. However, not all brokers out there can boast good integration with MetaTrader 5. Only a few of them are able to make the most of its potential and offer excellent market conditions. In this guide we will analyse the best reliable Metatrader 5 brokers. Have a good read!.
About MetaTrader 5
Metatrader 5 is undoubtedly the most professional and performing platform that the market can offer today to earn online in a short time, although it is very complex and full of information and functionality, it is very easy to use.
It can be used to make investments in forex, stock market, futures and can also be used with contracts for difference or CFDs.
The main operations that can be carried out are of three types, immediate, execution or on request, each of these has other very interesting features that can be activated.
Beyond this the trader can decide to open a trading position immediately without any kind of strategy.
Compared to the older twin platform(Metatrader 4) this is much more performing with significantly higher performance levels.
MetaTrader 5 Features
The software used for the Metatrader 5 platform is much more powerful and reliable, and has always been developed by the Russian company Metaquotes inc.
We have noticed that several improvements have been introduced compared to the previous version in order to be able to adapt the features to the continuous evolution of the online trading market.
Metatrader 5 can be used not only on the forex market, but also on the equity market, on the index market, with futures and CFDs, also in ECN functionalities (view list of best ECN brokers) dedicated to all intermediaries in addition to the Market Maker.
Here are the new main features:
- 80 analysis tools
- 21 time frame
- Real time news market
- Charts and economic calendar with alerts via sms, e-mail or through the platform
- Linear, bar or candle charts and fully customisable templates including backgrounds and colours
- Simultaneous opening of a maximum of 100 graphics
- Significantly improved“Strategy tester” functionality
- Ability to place endless orders including stop loss and take profit
- Ask and Bidpricesin real time
There are many more features added, we have only written the most important ones, so please take the time to study this new platform, which in our opinion will be even more successful than the previous one.
MetaTrader 5 Platform Advantages
As we know, the forex trading market is considered the most profitable in the world capable of generating truly remarkable intraday trading volumes, values that no other market has.
Today’s traders are greatly facilitated by the broker platforms that are in circulation and with the advent of the Metatrader 5 the chances of earning money have increased even more.
Beginners are made even easier because they can also use the demo account where they can make many fictitious transactions and gain experience without risking anything.
In Metatrader 5 further real-time trading possibilities have been introduced with the help of detailed information that helps the investor to follow the performance of a given asset.
The Mt5 has been designed specifically for the forex market where the timing of trading is fundamental, precisely for this reason it has been designed with a simple and immediate interface with quick access to any type of chart or trend.
A large section is dedicated to analytical tools that has been enriched by the previous version, calculated that there are more than 30 individual features that provide traders with historical data, price updates and much more.
MetaTrader 4 vs. MetaTrader 5, Differences.
First of all, the fourth version of Metatrader is designed to work with currency pairs, it includes an automatic trading mode and everything necessary to conduct adetailedtechnical analysis with the possibility of implementing various strategies.
Asset trading is reflected in nine time intervals. Fifty indicators directly integrated into the platform allow traders to determine the exact market entry or exit.
The presence of a sound signal during the execution of various operations also makes trading more convenient.
MetaTrader 5, on the other hand, has several additional features, but it is not a simple evolution of MetaTrader 4 as the programming language in version 5 is completely different.
Its developers, however, have tried as much as possible to keep the already familiar interface intact by adding a wide range of extra functions to it.
The workspace of the new platform has the same blocks as the previous one, which is why if you have learned how to work with Metatrader 4, it will be easy to work on the MT5 version.
Difference between MetaTrader 4 and MetaTrader5 timeframes
At first glance, to the beginner of trading, it seems that, on the outside, these platforms are not so different.
However, a detailed comparison shows that there are nine timeframes in MT4:
- 4 “times” expressed in minutes – M1, M5, M15 and M30;
- 2 timeframes in hours – H1, H4;
- The daily timeframe – D1;
- The weekly one – W1;
- The monthly timeframe – MN.
And in the most recent version, which was originally created for the foreign exchange markets, there are others. By right-clicking on the selected asset chart, you can set any non-standardised and customised timeframe period.
The minute range in MT5 is more diversified: M1, M2, M3, M4, M5, M6, M10, M12, M15, M20 and M30.
The hourly time interval has also been diversified: H1, H2, H3, H4, H6, H8 and H12. All time intervals are configured in the upper control panel.
As you can see, version 5 of the world’s most popular trading terminal includes many more timeframes than version 4.
Differences in trading with MetaTrader 4 and MetaTrader 5
Previously, in MetaTrader 5, there was no order blocking function. If, for hedging purposes, an agreement was opened in the opposite direction to an existing position, a part of the order that was already open was automatically closed.
This problem was solved by creating two different accounts: one for purchases and the other for sales.
In this way trading was divided into two different accounts belonging to the same trader. Subsequently, as a result of the changes made, this requirement has disappeared and traders can use other effective methods to protect their positions.
As for MetaTrader 5‘s trading tools, it should be noted that their complex is not limited to the FOREX market (using MT4, traders trade almost only in currency exchange).
In MT5 there is the possibility to trade shares, options, CFDs, cryptocurrency, commodities and other financial products, which is a big step forward considering that the usual MetaTrader 4 limits are no longer applicable.
In addition to using the familiar user-friendly interface, investors have the opportunity to exchange resources in various markets, as well as using the services of numerous brokers.
One of the most important innovations of the fifth platform is the price detail. The trader sees in the window not only the price of the traded good, but also its volume. This creates the preconditions for a quick decision-making process and helps the trader to make reasonable decisions in a short time.
In the fifth version there is the opportunity to view the online calendar of economic events.
Using MetaTrader 4, however, a trader displays the latest economic news on the broker’s website or other sources: there is no way to see what is happening directly from the chart.
Technical analysis: MetaTrader4 vs MetaTrader5
The possibility of technical analysis has been significantly modified.
The list of tools and parts has been updated and completely new objects have been added. For example, interested parties can add Elliott’s waves on a chart of an exchanged resource with a single mouse movement.
There are more integrated indicators than in MT4. The new version of the terminal has much more elements of analysis and customisation and is easier to set on the chart.
The possibility to move Stop Loss and Take Profit orders with a mouse movement exists in the fourth version of the trading terminal. However, this function is only applicable when One Click Trading mode is enabled.
In normal mode the trader modifies an open order in a longer way. The fifth version allows you to move Stop Loss and Take Profit, both when Trading One Click mode is active and when it is not.
However, in normal mode the trader must click the “Change” button when the open window appears to confirm his actions.
User opinions on MetaTrader 4 and MetaTrader 5
As one might expect, the opinions of users on both platforms are very variable, even for a matter of taste.
Some people like the MT4 terminal more as it offers a leaner interface; others prefer MetaTrader5 as it allows traders to view much more data and performamore comprehensive analysis of the market.
It can be said with almost absolute certainty that professionals prefer MT5 precisely because of this. On the other hand, those who approach the world of online trading find MT4 to be a more user-friendly trading terminal, that is why they are looking for the best brokers who offer MetaTrader 4 as a trading platform
We recommend that you try both and then stop on the one that is most comfortable for you. All this considering that even today MT4 is still the most used trading platform and defined by many as the most comfortable of the two, although MetaTrader 5 is more complete in many respects.
Trading strategies on MetaTrader4 and MetaTrader5
The MetaTrader 5 terminal initially provided the possibility of using strategy generators, just like the MT4 terminal. Here the strategy tester can be considered multi-currency.
Tests can be performed on several resources at the same time. We will explain shortly how to use the tester. However, in MT5, the history of all operations can only be saved for a timeframe expressed in minutes.
In this the platforms differ from each other. The ratio of the operation in the new version is more saturated with parameters than in MT4. It contains graphs that visually reflect the main indicators of the statistics
What are the best brokers with MetaTrader 5?
In the table above you can see the main features of what we consider the best brokers with MetaTrader 5. We hope to help you find the one that is best for you.
All the listed brokers are international companies regulated by major bodies such as FCA, CySEC, ASIC,… and offer their services to clients from all over the world. They are very popular companies in regions like:
In Asian countries: Thailand, China, Malaysia, Singapore, Japan, Vietnam, Taiwan, Indonesia, India, Philippines,…
In the Middle East: United Arab Emirates, Bahrain, Kuwait, Qatar,…
In Europe: United Kingdom, Germany, Italy, Netherlands,…
In Australia, New Zealand,…
In Latin America: Brazil, Argentina, Mexico or Colombia…
In Africa: South Africa, Kenya, Senegal, Nigeria,…
The best way to try MetaTrader platform 5 and the services of the broker you choose is to first open a demo account which all these brokers with MetaTrader 5 offer for free.
This post is also available in Spanish: brokers con metatrader 5
Author: Eduardo Montero
Welcome to Mundo-Forex.com: I'm Eduardo Montero, I work professionally in IT. I started trading in the financial markets (mainly Forex) more than 10 years ago. I'm the author of the articles on this website and of many others published on other websites specialised in stock market investment and finance in general. Learn more about me here: About the author.