Making the most out of the success of the MT4 (MetaTrader 4) trading platform, MetaQuotes capitalized on that with the introduction of the MT5 (MetaTrader 5) trading platform in 2010. While many think that MT5 is an upgrade of MT4, it is not the case. Although there are many similarities between the MetaTrader 4 and MetaTrader 5 platforms, MT5 platform was fundamentally designed to cater for both forex and non-forex markets like the futures market, equity market, and the commodities market. In other words, the MT5 trading platform was developed to address a different category of end users. But still, its main audience is the forex traders. These notable differences make MT5 a unique trading platform for both beginners as well as seasoned traders.
For instance, the MetaTrader 5 comes with more technical indicators, in fact, more than 80. The charts, on the other hand, support 21 different time frames. The best part is that you open up 100 different charts at once. Nevertheless, it will be hard to find a screen that can house as many as 100 charts simultaneously.
It is in the last 5-6 years since its inception that people have started showing an interest in the MT5 trading platform. With a surge in interest, people are looking for the best MetaTrader 5 forex brokers.
For forex traders, MetaTrader 5 has a number of new features that were non-relevant for the MetaTrader 4 version. All these freshly created services improve the capabilities of the trading platform, bringing in a higher level of the trading environment. While the number of brokers that offer MetaTrader 5 trading options are quite many and growing, our 10 best MT5 forex brokers list of 2020 may support your choice. These are the most robust, most respected, and most awarded brokers among the most important aspects.
So, without further ado, let’s get started.
1. Forextime (FXTM)
FXTM is a Cyprus-based broker that commenced its operations in 2011. It is the nominee of the UK Forex Awards 2016 under the category of the best MT5 Trading Platforms. Over the years, it has won several awards and accolades for its services. FXTM is regulated by a host of well-established and renowned regulatory bodies, including IFSC (IFSC/60/345/APM and IFSC/60/345/TS), FSCA (FSP No. 46614), and CySEC (185/12). FXTM is driven by its desire to serve particular FX markets with strong forex demands. The MetaTrader 5 platform offered by FXTM comes in numerous versions developed for the mobile, desktop, and web users. The FXTM MetaTrader 5 is an improvement on the MetaTrader 4. The traders can download their preferred version from the MyFXTM section. FXTM has an amazing selection of news and analysis, both standard and ECN accounts are available, and is known for its solid education offering.
Here’s a list of The Best MT5 Forex Brokers
- Forextime (FXTM)
- Admiral Markets
- Vantage FX
- FP Markets
- IC Markets
These are the top MetaTrader 5 forex brokers currently operating in the market. MT5 is a true spectacle of the online FX trading market, and with these brokers, your path towards becoming a successful trader gets a lot smoother.