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Every trader is aware of MetaTrader when trading in the forex market. It is one of the earliest and most used trading platforms used by traders around the world. Meta Trader 5, which was introduced back in 2010 is the latest edition of the MetaTrader series of trading platforms which also includes MetaTrader 4. MetaTrader 5 provides a lot of advantages previously not available, such as backtest strategies that trade more than one financial product, access to stocks and futures in addition to Forex and CFDs, insanely fast optimization times, automatic walk-forward optimizer and access to 6 types of pending orders.
With the advancement of online trading, several brokers have recognized the popularity of MT5 and have started integrating it. We’re going to present 5 of the best mt5 brokers in the market today.
1. Blueberry Markets
Blueberry Markets is a reputable, well-regulated broker based out of Australia. It is characterized by easy account opening, ECN trading environment and quality trading conditions. It also comes under the regulation of the Australian Securities and Investments Commission (‘ASIC’). It provides trading access to 300 instruments spread across Forex, Oil and Metal commodities, Indices, Cryptocurrencies, and Australian and U.S. Share CFDs. Traders have the option of either opening a standard account or a direct account.
2. Global GT
Global GT is a relatively new broker based out of South Africa. It is the first regulated Hybrid Broker with an STP Execution model via NDD and is regulated by the FSCA in South Africa. It’s offering of trading instruments may be small compared to the other entries on this list but still contains about 48 Forex pairs, 13 Cryptocurrencies, 5 Commodities, 53 Stocks and 8 Indices. To provide different trading experiences, Global GT offers four different types of live accounts – Cent, Mini, Standard and ECN. It accepts USD, EUR, BTC, ETH, XRP, USTD and ZAR as base currencies.
3. ACY Capital
ACY is another Australia-based broker which provides execution through a No Dealing Desk model, performed with no dealer intervention with no requites. It provides good quality trading conditions and a selection of trading platforms including MT5. The broker provides margin trading for more than forty forex pairs, Gold and Silver CFDs and others. It provides three different account types – stpECN, zeroECN and pureECN. It also offers both Mam and PAMM for corporate clients and Forex managers.
4. LiteForex
LiteForex has been operating since 2008 and has been a known name in the social trading and ECN trading markets. It has a long history of operation, powered by good technology and an ECN environment. Based out of Cyprus, it is compliant with the directives of CySec. Trading instruments include Forex, Metals, Oil, and Global Stock Indices traded like CFDs. There are only two account types offered by LiteForex – Standard and ECN accounts.
5. Eightcap
Based out of Australia, Eightcap is a forex and CFD broker which provides a transparent pricing model. It provides a good technological base for trading along with multiple educational resources. It is regulated by the ASIC. Eightcap provides over 250 instruments spread across major and minor currency pairs, oil, gold, silver, shares and cryptocurrency CFDs. It offers two main types of accounts – a Standard account and a Raw account. The latter account has spreads starting from 0.0 pips.
Conclusion
MetaTrader 5 along with MetaTrader 4 has been at the forefront of the online trading world for quite some time. It thus makes sense for brokers to include it as part of their trading platform offerings. When selecting a broker, always carry out substantial research into the fees, spreads, regulations and background of the broker you are interested in.
