Company

Spread

for EUR/USD

Min.

Deposit

Platforms

Offered

Account

Types

Spread

Type

Funding

Methods

Customer

Support

Execution

Details

XM

Offers five ways to trade: Forex, Commodities, Equity Indices, Precious Metals, Energies

 Offers MT4 and MT5 trading platforms
XM Image
See Details Try a Demo
Your capital is at risk
$5Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
Trust Score:

B

Used by:

700,000

Established in:

2009

Regulated by:

Financial Conduct Authority, C...

Pepperstone

Offers one way to trade: Forex

Pepperstone Image
See Details Try a Demo
Your capital is at risk
$200Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
Trust Score:

B

Established in:

2010

Regulated by:

ASIC

See DetailsTry a Demo
Your capital is at risk

ForexTime

Offers three ways to trade: Forex, Metals, CFD

ForexTime Image
See Details Try a Demo
Your capital is at risk
$5Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
Trust Score:

B

Established in:

2011

Regulated by:

CySEC

See DetailsTry a Demo
Your capital is at risk

Admiral Markets

Offers two ways to trade: Forex, CFDs

Admiral Markets Image
Your capital is at risk
$200Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

Exness

Offers one way to trade: Forex

Exness Image
Your capital is at risk
$1Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

FXPro

Offers four ways to trade: Forex, CFDs, Stocks, Futures

FXPro Image
Your capital is at risk
Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

Roboforex

Offers one way to trade: Forex

Roboforex Image
Your capital is at risk
$1Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

Swissquote

Offers five ways to trade: Forex, Commodities, Indices, Stocks, Bonds

Swissquote Image
Your capital is at risk
$1,000Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

ActivTrades

Offers one way to trade:

ActivTrades Image
Your capital is at risk
$100 or equivalentMin. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

AGM Markets

Offers three ways to trade: Forex, Spread betting, CFD

AGM Markets Image
Your capital is at risk
$250Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk
CFDs are leveraged products and can result in the loss of your capital. All information collected on 1/11/2017.
MetaTrader 5 (MT5)

The Ultimate Guide to

Choosing a Broker
For MetaTrader 5 (MT5)

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose XM
For MetaTrader 5 (MT5)?

XM scored best in our review of the top brokers for metatrader 5 (mt5), which takes into account 120+ factors across eight categories. Here are some areas where XM scored highly in:

  • 8+ years in business
  • Offers + instruments
  • A range of platform inc. MT4, MT5, Mac, Web Trader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 1.0 pips
  • Used by 700,000+ traders
  • Allows hedging
  • 3 languages
  • Leverage up to 888:1

XM offers five ways to trade: Forex, Commodities, Equity Indices, Precious Metals, Energies. If you wanted to trade EURUSD through copy trading or other means, skip to part two.

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

XM have a B trust score, which is good. This is largely down to them being regulated by Financial Conduct Authority, CySEC, segregating client funds, being established for over 8 years, and much more. For comparison:

Trust Score comparsion

XM Pepperstone ForexTime
Trust Score B B B
Year Established 2009 2010 2011
Regulated by Financial Conduct Authority, CySEC ASIC CySEC
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.

Part 2

Who XM is (& Isn’t)
Suitable For

As mentioned, XM allows you to trade in five ways: Forex, Commodities, Equity Indices, Precious Metals, Energies.

Suitable for:

  • CFD Trading
  • Forex Trading

Not Suitable for:

To trade with XM, you'll need a minimum deposit of $5. XM offers a range of different account types for different traders including a micro account, mini account, vip account.

Finally, XM isn't available in the following countries: US, Canada, Israel, Belgium, North Korea, Iran, Myanmar, Cuba, Sudan and Syria.

Part 3

A Comparison of XM vs. Pepperstone vs. ForexTime


Want to see how XM stacks up against Pepperstone and ForexTime? We've compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
XM Pepperstone ForexTime
Fixed Spreads
Variable Spreads
EUR/USD Spread 1.0 1.0 1.7
GBP/USD Spread 1.0 1.1 2.6
USD/CAD Spread 1.01.02.0
USD/JPY Spread 1.01.12.5
Crude Oil Spread 0.05 0.5 9.0
Gold Spread 0.47 0.6 10.7
DAX Spread 4.0 1.50 160.0
FTSE 100 Spread 3.0 1.0 70.0
S&P500 Spread N/A 0.4 20.0

Comparison of account & trading features

XM Pepperstone ForexTime
Spread type Fixed B B
EUR/USD Spread 2009 2010 2011
EUR/GBP Spread Financial Conduct Authority, CySEC ASIC CySEC
Crude Oil Spread
Gold Spread Private Private Private
DAX Spread

Part 4

What is the MT5 Trading Platform

MT5 stands for MetaTrader5, the latest version of the retail forex trading platforms designed by Metaquotes Inc. The MT5 was designed as the successor to the highly successful MT4 platform which is used by the majority of retail forex brokerage in the market today. Like previous MetaTrader platforms, the MT5 is a dealing desk platform designed as a turnkey solution for brokers. The platform is customisable and adaptable by individual brokers to suit their brand.

The MT5 platform was first introduced in 2010 and has struggled to replace its predecessor in the marketplace, the MT4 platform. However, in October 2016, Metaquotes announced its decision to promote the use of the MT5 for trading by discontinuing further updates to the MT4 platform.
In addition, certain changes were made to the MT5 platform which has increased the popularity of the platform.

Advantages of MT5 vs MT4 Platform:

  • Tool Tips now added for trade execution buttons. This feature leads to a display of the number of units of assets being traded. This enables traders to get informed about the value of every trade placed in the market.
  • Market depth information now displayed in the terminal window.
  • The Journal tab will now feature older entries first before new ones. This makes it easy to track and follow market occurrences.
  • Automatic copying of TP and SL settings from existing trades to new trades on the same currency pair has been removed.
  • Expanded time frames. MT5 now features 21-time frames.
  • Hedging of trades has been introduced.
  • Trade volume now displayed alongside asset price of new positions.
  • XML format now available for documentation.
  • The number of technical indicators has been expanded.
  • The use of libraries in MQL5 to convert EAs and indicators built with MQL4 to work on the new MT5 is now possible.
  • The addition of new statistical functions and updates of existing ones in the Standard Library.
  • Advanced settings now added to strategy tester.
  • The MT5 mobile versions now have a chat functionality which allows user interaction with other members of the MT5 Community website from within the MT5 platform.

MT5 Supported Platforms

Like the MT4 platform, the MT5 platform is available as the following:

  • MT5 desktop client, which can be downloaded for use on Windows computers.
  • MT5 WebTrader, which is the web-based version accessible from any computer with an internet browser.
  • MT5 mobile app, designed as a trading application for the Android and iOs devices.
  • MT5 Multi-Asset Institutional platform

MT5 Platform Overview

MT5 Desktop Terminal

The MT5 desktop terminal is the downloadable version of the MT5 which is designed to work on Windows computers. After downloading the executable (.exe) file, the bundle is setup by following the prompts as directed. Both Demo and real account options are available with the desktop version. Using the desktop client, the following features can be put to use by the trader:
Financial news and fundamental analysis.
Over 100 interactive charts, complete with more than 80 indicators and 21-time frames for in-depth technical analysis of currencies, exchange futures, stocks and spot metals.
The Code Base, which is the marketplace for expert advisors, custom indicators and several freelance services.
One-click trading function
Market Depth
Support for various trade execution modes.
Ability to select from a range of servers for faster executions

(add image: MT5_desktop)

MT5 Webtrader

The MT5 WebTrader is a web-based, version of the MT5 platform which can be accessed from any browser or operating system and does not require the download of any software. The broker will provide a unique URL from which the service can be accessed with the trader’s login details.

(add image: MT5 Webtrader)

This is a light version of the MT5 and only carries only 24 interactive charts and 30 technical indicators.

MT5 Mobile

The MT5 mobile versions come in two formats: one for the Android phones/tablets and another for the iPhone and iPad.

Just like the WebTrader, the MT5 mobile app features 30 built-in indicators. Though a light version of the platform, the MT5 mobile version can send all order types and features the One Click Trading option. The MT5 trading app is available in both the Google Play stay and on iTunes.

MT5 Multi-Asset Institutional Platform

The MT5 multi-asset institutional platform is ideal for brokerage operations and features assets listed in the forex, stocks, exchange index and commodities futures markets.
It is an all-in-one interface which supports white-label licenses, an enhanced back-office, exchange connectivity, and numerous APIs for website integration. Unlike the MT4, the MT5 comes with full hedging functionality.

(add image: MT5_brokers)

The MT5 back-office supports accounting, administration, market dealing and risk management roles. It also allows brokers to set conditions for trades such as margin requirements, swaps, contract terms, credit limits, spreads, commissions, and other parameters for trading operations by clients. The MT5 is the platform for market makers as it offers full dealing-desk functionality.

MT5 Supported Special Functions

MQL5 IDE

A highly sought after feature of the MT5 is the algorithmic trading suite. This feature enables the use of forex robots built with the MQL5 programming language. Traders and programmers can use the MQL5 Development Environment to build, test, debug and optimise automated trading robots. There is a development assistant which enables traders with no experience whatsoever to compile very simple robots. The MQL5 is a step higher than the MT4 as it features elements of C++ to enable developers with advanced training to build more complex expert advisors within the MQL5 IDE.
Programmers also have access to sell their programming skills to perform new robot development projects or to sell existing EAs and indicators using the code base.

Strategy Tester

The Strategy tester enables the optimisation and testing of all software built with MQL5 before they are run on live accounts. Anyone who wants to purchase an EA from the MT5 Community should use the Strategy Tester to evaluate the software before purchase. This can be done using the demo version of the software.

MT5 Technical features

The software itself is extremely user-friendly. It has the following functions:
Chart Mode: The MT5 has a fully-functional interactive charting package. Traders have access to bar charts, line charts or candlestick charts.
Lines: The Line tool is available for trend line studies and identification.
Price channel tool traces channels on charts.
Fibonacci tools: The various tools and indicators based on the Fibonacci numbers are available: arc, fans, retracement and expansion tools.
Pitchfork: This function is used to identify the fork pattern where it exists.
Time frames: The MT5 boasts of an extended time frame functionality featuring 21-time frames.
Featured assets available for trading include currencies, commodities, index exchange futures and blue-chip stocks, all traded as CFD instruments. Traders can select what they want to trade from the Symbols tab, available on the file navigation interface.
There are several other changes which cannot all be captured here. But suffice it to say that the MT5 is indeed the retail trading platform for the future. Traders can maximise these added features to enhance their trading experience.

In summary, with the combination of the added features of the MT5 and MT4 no longer being updated, the MetaTrader 5 is likely to become one of the most popular trading platforms for traders in the future.