Plus500 has been one of the best CFD brokers globally since 2008. The broker offers a wide range of online CFDs on forex, shares, commodities, and more!
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The MetaTrader 5 (MT5) platform was developed to offer traders extensive control over their investments. In contrast to its predecessor, MT4, which caters primarily to forex traders, MT5 accommodates CFDs, forex, shares, and futures trading. If you’re searching for a MetaTrader 5 broker in the UK, you’ve come to the right place. Below, we’ve curated a list of the best options to simplify your selection process. We trust that this guide will facilitate your trading journey.
List of the Best MetaTrader 5 Brokers in the UK 2024
The best MT5 brokers UK should offer access to a wide range of assets beyond forex.
The best MT5 brokers should host advanced trading tools, including algorithmic trading with Expert Advisors. Consider whether you understand how to implement these features before settling for one.
It is essential to consider an MT5 forex broker with a mobile app for on-the-go trading.
Prioritise MetaTrader 5 brokers UK with risk management features like stop-loss and take-profit orders.
Access to market depth, economic calendars, and news feeds is crucial when using the best brokers for MetaTrader 5. This will help you mitigate the high risk of losing money rapidly.
UK traders and investors considering MT5 brokers should start by practicing with demo accounts to ensure the brokers meet their specific needs.
Credit/debit cards, Neteller, Skrill, Bank transfers
Yes
Yes, up to €5 million
Brief Overview of Our Recommended MT5 Brokers’ Fees and Assets
Below, we offer a quick look at the fees and available assets of our recommended MetaTrader 5 brokers UK 2024. This summary will help you make informed choices based on cost and asset options.
Our Opinion & Overview of the Best MT5 Brokers in the UK
Feel free to read our mini-broker reviews below to understand what each option has to offer. We prepared them based on our hands-on experience to ensure you get accurate information for informed decisions.
1. Pepperstone - Overall Best
After a comprehensive evaluation, Pepperstone’s diverse range of 1200+ CFD instruments, covering forex, shares, indices, and commodities, left a strong impression. Pepperstone’s MT5 platform stood out for its powerful features and the capacity to automate trading through MQL5, ensuring lightning-fast order execution. The user-friendly, customisable platform with integrated charting tools enhances strategic analysis.
Additionally, Pepperstone’s cost-effectiveness with low trading and non-trading fees and competitive spreads is commendable. We incurred low spreads starting from .0 pips on major currency pairs. We also like that the broker has no inactivity fee, giving traders the flexibility to trade whenever they feel comfortable. With no minimum deposit for UK traders, Pepperstone is worth trying, earning a 4.9-star rating.
1
Pepperstone Review
TradingGuides Rating:
✔ Top tier liquidity ✔ No dealing desk intervention
Highly regulated by the most stringent authorities, including the Financial Conduct Authority.
Low trading and non-trading charges.
Advanced MT5 trading platform that is easy to use and highly customisable.
Responsive 24-hour share CFD trading.
Cons
High financing costs for overnight positions held.
Type
Fee
Minimum Deposit
$0
Withdrawal fee
$0
Deposit fee
$0
Inactivity fee
No
Account fee
No
1200+ instruments across FX, indices, cryptocurrencies*, equities, energy and commodities, and more, across three, free powerful platforms.
*Only Pro clients get access to cryptos.
2. Admiral Markets - Best For Stock Investors
Among the MT5 brokers we have tested, Admiral Markets stood out as an excellent choice for stock investors. We discovered more than 4,500 stocks on its Invest MT5 account. These stocks are listed on various global exchanges, including LSE, NYSE, NASDAQ, and TSE. You can buy the shares from 1 EURO (spreads start from 0) and explore fractional share investing if you want to try with small amounts. For investors who want to trade stocks as derivatives, Admiral Markets allows you to do so via its Trade.MT5 and Zero.MT5 accounts. You simply need to identify a suitable one for your skill level through its risk-free demo account.
Besides stocks, you can invest in ETFs at Admiral Markets. Additional CFD instruments are also offered for your portfolio diversification. These include forex, indices, and more. We also like that this broker hosts quality learning and analytical research tools for skills and strategy development. And although the broker’s support service team operates five days a week, rest assured of prompt response and relevant solutions that will maximise your experience.
Supports fractional share investing with as little as £1
Numerous advanced market analysis tools on its MT5 trading platform
Reliable and supportive support service operating round the clock
Operates seamlessly on desktop and mobile devices
Cons
It has a £250 minimum deposit requirement for UK clients, which we find high for investors who is looking for lower entry
threshold
Once activated, the demo account expires after only 30 days
Type
Fee
Minimum deposit
£250
Deposit fee
$0
Withdrawal fee
1 free withdrawal request every month, after – 1%
Inactivity fee
Monthly €10
Overnight fee
Yes
Admiral Markets is a great broker with great trading opportunities. You can start investing with just £1 and trading with £100 on more than 4,000 stocks from the New York Stock Exchange, Nasdaq, FTSE, and more.
Admiral Markets offers the most advanced trading tools and services and sophisticated operations, including technical analysis indicators and trading strategy templates.
Investments involve risks and are not suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
3. AvaTrade - Top Option For Social Trading
We understand the importance of social trading, especially for beginner traders. Therefore, we thought it is best to recommend AvaTrade for traders looking to benefit from this feature and still have access to MT5. From our exploration, AvaTrade’s social trading is supported on its AvaSocial platform, which lets you connect with the world’s best experts. There is also the DupliTrade platform that automatically replicates experts’ traders on users’ behalf.
AvaTrade’s MT5 trading platform supports EAs, custom indicators, scripts, and libraries for an exciting trading experience. We also find it to be one of the best MetaTrader 4 brokers, considering the quality resources it provides. Overall, AvaTrade lists over 1250 instruments, including forex, shares, commodities, ETFs, and more. With one-click trading, micro lots, and numerous advanced tools, we give AvaTrade a 4.9-star rating.
1
AvaTrade Review
TradingGuides Rating:
✔ One of the most popular brokers in the UK/EU
✔ Quick deposits and withdrawals
AvaTrade impresses with a robust portfolio of over 1250 assets, encompassing a wide range of trading instruments.
Forex – AvaTrade facilitates trading in a broad spectrum of currency pairs, enabling exposure to the dynamic forex market and diverse CFD options.
Stocks and Commodities – The platform offers a comprehensive selection of stocks and commodities, allowing users to invest in companies and raw materials across global markets.
Cryptocurrencies – AvaTrade supports trading in cryptocurrencies, providing access to a multitude of digital assets, including popular ones like Bitcoin, Ethereum, and more.
ETFs, Bonds, Treasuries, and Indices – AvaTrade’s offerings extend to ETFs, bonds, treasuries, and indices, offering diversification opportunities and exposure to various sectors and industries.
4. FxPro - Best With Excellent Support Service
FxPro tops our list as the best MT5 and MT4 broker with excellent support service. Available 24/5, its team showcases impressive responsiveness through phone, email, and live chat. We also like the broker’s commitment to follow-ups, ensuring traders’ comfort and satisfaction with their activities. User feedback on platforms like Google Play, the App Store, and Trustpilot consistently lauds the customer service team for their outstanding assistance.
While exploring FxPro’s MT5 platform, we bumped into 2100+ assets, including forex, metals, indices, energy, futures, and shares. With trade sizes as low as 0.01 lots, the platform caters to diverse trading preferences. Moreover, FxPro doesn’t limit users to just MT5; it also provides access to the MT4 and cTrader platforms, offering a versatile and well-rounded trading environment. We highly recommend this MetaTrader 5 platform as it also features quality research and learning resources.
Responsive support service with relevant solutions
A user-friendly and modern design trading platform
Cons
Few asset selection compared to its peers
You can only trade the available assets as CFDs or spread betting
Type
Fee
Minimum deposit
$100
Withdrawal fee
$0
Inactivity fee
$15 once + $5 monthly
FxPro offers traders a wide range of investment products, including 70 currency pairs, as well as over 2000 different stocks.
5. FP Markets - Top Broker For Professional Traders
Professional traders looking for an MT5 broker should try FP Markets. During our research, we discovered that this broker is user-friendly and compatible with desktop and mobile devices. Moreover, the FP Markets MT5 platform lists multiple asset classes and charges low spreads from 0.0 pips. As professional traders, we enjoyed this broker’s quality advanced tools, including forex signals and the copy trading feature. There are also improved strategy tester for algorithmic trading and expert advisors (EAs). Its leverage limit goes up to 500:1, and you can get started with as little as £100.
We like that FP Markets also features social and copy trading via its Myfxbook platform. It is also one of the best MetaTrader 4 brokers since the platform hosts quality tools for market analysis. On top of that, this MetaTrader platform hosts other options, including cTrader and TradingView, all with unique features. We, therefore, give FP Markets a 5-star rating.
1
FP Markets Review 2024
TradingGuides Rating:
✔Low trading fees ✔Accounts can be opened fast and easy
There are plenty of trading options to choose from on FP Markets. These include 70+ currency pairs, more than 10,000 stocks on global exchanges, 5 cryptocurrency CFDs, 46 ETFs, 19 major global indices, and commodities. The commodities available include gold, silver, oil and more.
6. FXTM - Cheapest Option
FXTM offers a diverse range of account types to cater to the needs of all traders, and we found its account setup process to be quick and hassle-free. We also observed that this MT5 broker has low trading commissions, which decrease as trading volumes increase. Additionally, there are no non-trading deposit fees, and overnight position costs are minimal.
We were also impressed with the fact that FXTM is accessible through desktop and mobile devices, offering flexibility and convenience for traders on the go. Moreover, the platform provides a wealth of educational and research tools that empower traders to enhance their strategies. It is a suitable broker to trade forex, indices, commodities, and more since we discovered over 1,000 securities. Based on the above elements, we give this MT5 broker a 4.6-star rating.
1
FXTM Review 2024
TradingGuides Rating:
✔ Great education section
✔ Well-established broker
Low trading commissions that keep reducing with higher equity.
No deposit fees.
Plenty of educational materials for beginner traders.
Very responsive customer support service.
Cons
Charges inactivity and withdrawal fees.
Customer support service available on weekdays only.
Type
Fee
Minimum deposit
$10
Overnight fee
$5
Deposit fee
$0
Withdrawal fee
$3
Inactivity fee
Yes
In the forex market, you have a choice of 250 currency pairs. If you decide to trade stocks, FXTM can offer you 170 options for stocks from different companies. Many of these stocks are offered not only as CFDs, but also for live trading. The broker also allows customers to trade cryptocurrencies.
HF Markets is the top MT5 choice for beginner traders because of its user-friendly and customisable platform. The best broker for MetaTrader 5 is fast and versatile, and from our experience, accessing research, webinars, videos, and news feeds for market insights was straightforward. In addition, we noted that HF Markets has a minimum deposit of just £5 and spreads starting from 0.1 pips.
Regarding leverage, rest assured of a limit of up to 1:2000 for professional traders. Its 24/5 customer support is reliable, and you can even copy trades from other global traders for increased potential. This feature allows any beginner to easily learn trading tips and spend less time conducting research for solid strategies. With superior trading conditions, flexibility, and reliability HF Markets MT4 platform offers, we rate it with 4.5 stars.
1
HotForex Review 2024
TradingGuides Rating:
✔ Low minimum deposit ✔ Reliable and trustworthy broker
Easy-to-use and highly customisable trading platform.
Low trading costs, which allow beginners to comfortably explore the financial landscape
Competitive spreads starting from 0.1 pips.
HFcopy account to interact with other investors and copy trades from the experts.
Cons
Customer service is only available 5 days a week.
Supports CFD trades only.
Type
Fee
Minimum deposit
5$
Deposit fee
0$
Withdrawal fee
0$
Inactivity fee
5$
Hot Forex offers over 150+ trading instruments, including forex, stocks, futures, indices and commodity CFDs. And due to the growing demand, they provide cryptocurrencies like Bitcoin, Ethereum, Litecoin and others.
What do Other Traders Say?
In the section below, we sample some of the feedback and reviews from fellow traders regarding the performance of MT5 brokers in the UK. Real-world insights and opinions on Google Play, the App Store, and Trustpilot can be instrumental in making an informed choice.
Pepperstone
Users praise Pepperstone for its user-friendly MT5 platform, competitive spreads, and fast execution. Many traders appreciate the reliability and customer support.
“I’ve used many trading platforms, and this is my favourite. Took me a while to get used to it, as it was slightly different from what I was used to, but now love it & all its features.” – Jana from Gold Coast
“Easy to open. Easy to use. Easy to add money. Easy to withdraw money. Good customer service. Fast execution. Less spreads. Just learn how to trade and have fun.” – Pruthviraj Rathod.
AvaTrade
Traders interested in social trading find AvaTrade appealing. Users mention the availability of social features and a range of assets for trading.
“Mobile application is best to use because it is easy for me rather than working on a computer my phone is often on my hand and easy to use” – Andile M
“I was assisted by Alev Nazli. She was very friendly and helpful. Made sure I understood the platform and confirmed that I’m all set to go. She followed up the next day as well. Much appreciated.” – Michael S
FP Markets
Professional traders seem to gravitate towards FP Markets for its advanced features and range of tradable assets. Tight spreads and strong customer support are commonly noted.
“Customer support is really marvelous, my problem was taken seriously and solved within no time. Thanks to the team for their efforts. Great!” – Tariq
“The app is user friendly. Even for beginners, it is easy to use, and the customer service live chat is quick in replying.” – Wayne K
FXTM
FXTM is lauded for its low spreads and a variety of educational resources. Some users mention that customer service is responsive and helpful.
“Honestly FXTM is the best broker for me so far, the immediate way of funding account and withdrawals with simplicity is amazing.” – Owoidighe Udeme
“This application is really convenient. The interface is user-friendly, and the available tools help to trade in forex market efficiently. So far, no issues, highly recommended.” – Gagik Gabrielyan
HF Markets
HF Markets receives positive feedback from beginners who find the MT5 platform easy to navigate. Traders appreciate the educational materials and responsive support.
“Very easy to navigate. It only takes a few taps to buy and sell, so you really need to know what you’re doing. and stable connection allows transactions to be completed without interruption” – Hoàng Thanh
“HFM supports both MetaTrader 4 and 5 platforms, which are the most popular ones. HFM also has its own mobile app that has won awards for its design and functionality. I do not need more than that.” – Takai Ichibei
The Ultimate Guide About Trading with MetaTrader 5 Broker
The MT5 platform has gained significant popularity among traders for its advanced features and versatility. In the sections below, we’ll explore some aspects of trading with an MT5 broker, from choosing the right one to getting started with your first trade.
How to Choose the Right MT5 Broker in the UK
Selecting the right MT5 broker UK is a pivotal decision for traders. If you are a beginner, we’ll walk you through the essential factors to consider when choosing an MT5 broker in the UK. From regulatory compliance to trading conditions, you’ll learn how to make an informed choice.
Ensure that the broker is regulated by a recognised authority in the UK, such as the Financial Conduct Authority (FCA). Regulatory oversight provides a level of security and ensures that the broker adheres to industry standards. Also, ensure the broker employs robust security measures to protect your personal and financial information.
Consider a broker that offers a range of financial instruments to explore. MT5 is known for its versatility, so check if the broker provides access to the specific asset classes. This is whether you intend to trade forex, CFDs, shares, commodities, and more.
Evaluate a broker’s fee structure to understand whether you can afford it. Compare trading and non-trading fees such as spreads, commissions, overnight financing charges, and other trading costs. Look for brokers that offer competitive pricing aligning with your budget, but also be wary of hidden fees.
Examine the trading platforms offered by a broker. While you’re interested in MT5, ensure it’s available and user-friendly. A broker may also offer additional platforms or tools that complement MT5. Plus, check the availability of learning and research resources. For beginner traders, settle with a broker backed up by a demo account. This allows you to explore its MT5 platform and gauge your skill level before investing your hard-earned money.
Choose a broker that offers quality customer support. Test the broker’s responsiveness and availability through various channels, such as live chat, email, and phone. Knowledgeable and helpful customer service can be invaluable. Also, confirm availability, whether 24/7 or five days a week. The option you settle with must align with your trading schedule.
Research what other traders say about the broker. Online broker reviews and forums can provide valuable insights into the broker’s reputation, reliability, and customer satisfaction. For honest feedback and ratings, visit Google Play, the App Store, and Trustpilot.
Metatrader 4 (MT4) vs. Metatrader 5 (MT5)
The primary distinction between MT4 and MT5 lies in their asset coverage. While MT4 is predominantly focused on forex trading, MT5 extends its reach to include a broader array of asset classes, such as stocks, commodities, and indices. Additionally, MT5 offers more timeframes, providing traders with greater technical analysis precision.
MT5 introduces advanced order types like buy-stop limits and sell-stop limits, giving traders increased flexibility in their strategies. It also boasts a more extensive selection of built-in technical indicators and enables custom indicator creation using MQL5. While MT4 allows hedging, MT5 follows a netting system. Lastly, you can use MetaTrader 5 for enhanced backtesting capabilities. This makes it suitable for traders seeking a more versatile and feature-rich trading platform.
Overall, traders using the MT4 or MT5 platforms are exposed to quality resources. However, the MT5 suits traders looking to explore multiple instruments, especially in CFD trading. Regardless of the platform or asset you choose, understand that you can lose money when trading CFDs. Therefore, we advise you to figure out whether you understand how CFDs work and whether you are willing to take the risks that come with the activity.
What is MetaTrader 5?
MetaTrader 5 (MT5) is a versatile trading platform developed by MetaQuotes. It goes beyond its predecessor, MT4, by offering access to various asset classes, including forex, stocks, commodities, and indices. MT5 provides a comprehensive set of technical analysis tools, with 21 timeframes for detailed chart analysis.
Traders can use six types of pending orders, offering greater flexibility in trade execution. It supports algorithmic trading through Expert Advisors (EAs) and includes an integrated economic calendar for staying updated on market events. MT5 is a powerful and adaptable trading platform suitable for investors of all levels looking to diversify their portfolios and enhance their trading strategies.
MT5 Mobile
MT5 Mobile is an on-the-go solution for traders. This app, compatible with Android and iOS devices, provides real-time market access and execution. Its user-friendly interface allows easy trading and order placement. You can monitor real-time quotes, use the MT5 technical indicators, and receive push notifications for price alerts. Plus, the app’s security measures ensure your data is protected. With account synchronisation and the option to practice with demo accounts, MetaTrader 5 is available for all types of mobile traders. The platform offers the flexibility and convenience needed to access the markets anywhere at any time.
5 Quick Steps To Start Trading with MT5 Broker
Kickstarting your trading journey with an MT5 broker is a straightforward process. Here are five quick steps to get any beginner started on a good note.
Step 1: Go to Your Broker’s Website
Step 2: Account Registration
Step 3: Platform Installation
Step 4: Account Funding
Step 5: Start Trading
Start by visiting your broker’s official website. If you have chosen an option from our list of the best MT5 UK brokers above, we share links that will give you quick access. On the site, ensure you first read and understand the broker’s terms of service. And if you like mobile trading, install the broker’s app on your mobile device so you can efficiently manage your positions even while on the move. Note that most brokers’ apps, including the ones we recommend, are free to download from Google Play or the App Store.
Click the register, sign up, or join now button to register your trading account with a broker. For FCA-regulated service providers, the procedure is similar. A form will pop up for you to fill in using your personal details, including your name, date of birth, email, phone number, location, source of income, and more. You may also participate in a questionnaire that will help the broker determine the best leverage limit for you. Do not forget to create a username and strong passport to protect your account from unauthorised access.
In the UK, every trader or investor must verify their identities and location before having their accounts fully activated. So, expect your broker to request a copy of your government-issued ID, passport, or driver’s licence as proof of identity. You will also be asked to provide another copy of your recent utility bill or bank statement to verify your location. This procedure protects the UK’s online financial landscape from imposters and money laundering activities.
Once you have verified your account and received an email notification, install the MT5 platform via your broker’s official website. This procedure takes minutes to complete, after which you will log in using your trading account’s details. Then, make a deposit using a convenient method the broker supports. This can be credit/debit cards, e-wallets, or bank transfers. You will automatically be redirected to the broker’s listed securities once your deposit is confirmed.
Customise the MT5 trading platform to suit your skill level and select your preferred instruments to trade. Then, choose a trade size based on your risk tolerance, and do not forget to apply risk management controls. Remember, losses are inevitable, and over 76% of retail investor accounts lose money when trading. With tools like stop-loss orders, you will mitigate massive losses should a trade work out against you.
For beginner traders, we advise you to start trading using a broker’s demo account. It is crucial that you are fully familiar with how the MT5 platform works before risking real funds. Plus, the demo account will help you gauge your skill level and decide whether you are ready to trade on the live account.
Pros and Cons to Trade with MT5 Broker
Trading with a MetaTrader 5 platform offers a range of advantages and disadvantages that every trader should consider. Here’s a closer look at the pros and cons.
Pros
More advanced order types for precision.
Access a wide range of asset classes compared to MT4.
Extensive built-in indicators and custom indicator creation.
Features Expert Advisors (EAs) and custom scripting.
Economic Calendar: Integrated for real-time event tracking.
Cons
Not all brokers offer MetaTrader 5, limiting options for traders.
No support for hedging in MT5.
Can be challenging for beginner traders to use.
FAQs
What is MetaTrader 5 (MT5)?
MetaTrader 5 is a trading platform from MetaQuotes. It was developed to accommodate more asset classes that MetaTrader 4 could not. These assets include CFDs on stocks, forex, and commodities, which are also available on flexible leverage. With MT5’s powerful trading platform, you will enhance your trading experience with advanced practical, technical tools and resources.
Is MetaTrader 5 free?
Yes. The MetaTrader 5 platform is a free application that lets you analyse the forex and currency markets. Simply download it from the broker of your choice’s website, connect it to the broker, open a trading account and start investing.
How do I use a MetaTrader 5 demo account?
First, you need to download the MetaTrader 5 application on your desktop. Once you run it on your PC and enter your personal details, you will be redirected to the main menu to select trading servers. Through the servers, you can access the demo account, to register and test how the MT5 platform works.
Is MetaTrader 5 a broker?
No. MetaTrader 5 is simply a trading platform that lets you improve your trading experience through its advanced trading tools for quick market analysis.
Is MetaTrader 5 safe?
Yes. The MetaTrader 5 platform is highly encrypted to secure your information and trades. Make sure that you are using it on a highly regulated broker, like the ones recommended above, so that your investment capital is also secured.
What is the minimum deposit for MetaTrader 5?
Depending on the broker you are investing with, the minimum deposit for MetaTrader 5 can be as low as £5.
Conclusion
Choosing the best MetaTrader 5 brokers UK 2024 is a pivotal step in your trading journey. With this guide, you’ve gained insights into the top options and learned about the platform’s advantages and disadvantages. As you embark on your trading adventure, remember to conduct thorough research, align your choice with your trading goals, and stay informed about market trends.
Use MT5 versatile features and implement sound risk management practices, especially while exploring CFD assets. This is primarily because CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Successful trading requires continuous learning, discipline, and a well-thought-out strategy. Decide whether you can afford to take the high risk of losing your money before using an MT5 broker. This is whether you trade forex, shares, commodities, ETFs, and more.
How we test?
Our test process is really based on two different aspects: our independent tests and research, as well as user reviews from Google Play, the App Store, and Trustpilot, etc.
The first thing we do when testing is to check every detail and test every tool and instrument. Our experts spend more than 200 hours on every article. We pay special attention to the specific function or the criteria that we’re comparing during the comparing stage. This means that we must determine which broker is more suited for beginners, and which is better suited for experts, for example.Find out more about our test process here.
Thadeus Geodfrey
Is a regular dad trying to be smart about how we play and win in this big game of life. He has worked within the very best of the financial industry producing numerous training resources. He is an experienced copywriter with immense financial background. Now earns a full time living as a Trader, and as our writer.
His articles help everyday families build sustainable wealth, stop stressing about their financial security, and start living the life they’ve always wanted.
If he is not trading or writing, he is at the gym.
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