MT5 brokers
Brokers by Type
Latest Reviews
Evgeniy Shestakov
I started trading with them with a minimum amount. They assigned me a manager who helped me with trading. My stock has already doubled in one day. The mentor began to say that I could earn even more, but I needed to increase the amount on deposit. I wanted to try to get the part out first, and told my mentor about it. After that I was unable to log into my account.
Read moreArthur
I tried to trade here. Nothing worked out; for some reason, promising deals went into the red as soon as we tried to close them. The terminal could ignore orders for several minutes until the price of the asset changed for the worse.
Read moreArthur
I really didn’t like that they called me several times a day after I registered my account. I didn’t even have time to top up the deposit when calls started coming in asking me to deposit as much money as possible and invest it all in an incredibly profitable deal. Such recommendations contradict any rules of money management. And that's why I refused to work with them. And then for another two weeks I blocked the left numbers from which they called.
Read moreMax
I met on VK girl from somewhere in the EU and corresponded with her for a couple of weeks and evenby videocommunicated. And then she started asking about my work and said that she herself is engaged in trading and lives well on the income from it and offered to introduce me to a person who has a good broker. Like a fool, I agreed and gave my contacts, and within a day they called me and started telling me tales about huge incomes and pointing out some graphs and reports. A day later I transferred money to the account to scrape $300 according to mystockpiles and tried it at the merchant. My trading almost immediately went negative. I realized that it was not mine and wanted to withdraw the money, but I was thrown out of my personal account and was not allowed back.
Read moreEgor
Rakuten Trade clearly does not look like a normal broker. Too many jambs. It is very difficult to open an account with him; it is impossible to trade normally. Any transaction becomes unprofitable due to direct and hidden commissions.
Read moreMatvey
I fell for the promises of the bitprojectinvests manager like a horse. And now I can’t even withdraw my money.
Read moreForex brokers offering the MT5 platform — what to expect for a trader taking the stance.
The MetaTrader 5 trading terminal is a creation of MetaQuotes company and was introduced in 2010. It was intended to replace MT4, but in reality, displacing its predecessor in the market proved challenging.
Dealers who do not execute trades externally hold MT4 in high regard. In 2022, it is still in demand among them, whereas MT5 is less common in their arsenal. Thus, encountering a complete scam using MetaTrader 5 for fraudulent purposes is much less likely.
What can a broker with MT5 offer?
- Executing trades on the interbank market.
- Enabling trading on regular exchanges, making the platform more versatile than MT4.
- Technically, MetaTrader 5 can be integrated with any broker through an API. The built-in MQL5 language assists in automating trading.
Forex brokers with MT5: Can they be trusted or should they be avoided?
Among brokers offering trading on the MetaTrader 5 platform, many are reliable. Four Russian forex dealers with a license from the Central Bank of Russia fall into this category:
- Alfa-Forex.
- Finam-Forex.
- VTB 24 Forex.
- BCS Forex.
Reputable brokers from the UK, Australia, and the EU also offer trading with MT5. All of these brokers are closely regulated by government authorities.
MT5 brokers can be trustworthy, provided they possess a license safeguarding traders from non-market risks.
How to recognize scammers promoting online trading with MetaTrader 5?
Scammers offering trading on MetaTrader 5 online are often offshore brokers and dealers. They are often based in locations like Saint Vincent and the Grenadines, Bahamas, and Belize. These are where “kitchens” thrive, with excessive leverage allowing them to drain most traders’ positions.
Note: “Kitchens” manipulate quotes, such as inflating spreads to liquidate traders’ positions.
Target audience of Forex MT5 brokers: Who is the terminal designed for?
Brokers allowing trades on MetaTrader 5 cater to small and medium-sized traders, those who are not quite at the professional level. Institutional traders generally do not use such platforms.
The MetaTrader 5 program is flexible, relatively easy to learn, has a user-friendly interface, and even has a mobile version. However, it is less sophisticated compared to more professional paid platforms.
Therefore, traders do not need to spend money on MT5. The broker covers the licensing fee. The target audience for such brokers consists of small and medium-sized traders.
Binary options brokers with MT5: Scam or legitimacy?
Platforms solely offering binary options trading would not invest in a licensed MetaTrader 5 platform. They use it only when, in addition to bets on quote movement, they offer classic retail forex trading – opening and closing positions with derivatives.
In reality, trading binary options is often considered a scam, similar to betting on sports events. Genuine trading is seldom involved.
Binary options are banned in many countries worldwide, and for good reason. Manipulating the quotes on which bets are placed is easier than influencing outcomes in the world of sports. Scammers promoting binary options capitalize on this.
Can a broker with MT5 be trusted?
If a broker is licensed, offers fair service conditions, has a good reputation, and uses MT5 as one of its advantages, you can consider trading with them. MetaTrader 5 has numerous features, is free, and allows for the creation or use of trading robots for automated trading. However, if a broker only offers MT5 as a positive point while having other negative aspects, it’s best to avoid them as they might be fraudulent and not genuine about interbank execution or honest trading.
