MT5 brokers in the UK

MetaQuotes started its financial software business in 2000, released MetaTrader 4 in July 2005 and launched MetaTrader 5 in 2010. You can trade currencies, shares and futures from 1 screen using the platform. Deposits aren't accepted by MetaQuotes itself, and it doesn't fill trades either. After you open an account with a broker, that firm links your login to its own pricing and trade server.

A forex demo account accompanies MT5 at several UK firms included in our comparison: ActivTrades, Capital.com, FxPro, IC Markets, IG, Pepperstone and Vantage. Several other UK brokers don't offer MT5. CMC Markets provides MetaTrader 4 and TradingView. Spreadex offers TradingView along with its own app, while eToro and XTB use only their own trading platforms.

Once your broker approves your account, it provides a numeric login. You also receive a password and server name. When you open MT5, choose the same server listed there and enter your login details. The platform then connects directly to your broker's trade server, streams live prices and shows your balance.

People using Windows, Mac or Linux can get the desktop software, while those using iPhone, iPad or Android can install the mobile app. You don't need to install anything to open the MT5 WebTerminal in any web browser. Charting tools are more extensive in the desktop download than in the mobile app for your phone or tablet.

On desktop, web or mobile, the app forwards each trade you place to your broker's trade server as a request. Before processing the order, the server checks that the price is valid and your account has enough funds.

MT5 offers market orders in 2 types and pending orders in 6 types. It also has 2 stop orders and a trailing stop option. For a market order, your broker receives instructions to buy at the ask price now or sell at the bid price now, without delay. For a pending order, your broker gets instructions to buy or sell later only if the market reaches your chosen price.

Both Stop Loss and Take Profit are available as 2 stop orders you can attach to your trade. At your chosen price, both orders close your whole position automatically. As profit grows, a trailing stop moves your Stop Loss level with the live price, but stays still when prices reverse. For your account, your broker selects 1 of 2 position accounting modes, either hedging or netting.

Hedging lets you keep several separate trades open on one market at the same time, including trades in opposite directions. Netting combines all your trades on one market into 1 single position. Under netting, MT5 combines 0.5 lots of EUR/USD that you buy with a later 0.5 lot purchase, creating 1 lot. Under hedging, both of those 2 purchases remain open as 2 separate positions of 0.5 lots each.

Your broker chooses an execution mode for each market: Instant, Request, Market or Exchange execution. You can use our cTrader vs MT5 guide to compare these order rules with how they work on other software.

Yes, an Expert Advisor can automate your trading on MT5. An Expert Advisor is software within MT5 that follows set rules, watches live prices and makes trades automatically. Because it runs on code, it can study quotes and submit orders without you clicking buttons.

You don't need any programming skills to use these tools. Within MT5, you can download free robots and indicators from the MQL5 Code Base, or buy and rent them from the MetaTrader Market. Every product shown in the Market comes with a free trial, which you can test in the Strategy Tester before paying.

Writing a robot of your own? MT5 includes the MQL5 Wizard and MetaEditor for writing and testing your strategies. Your robot stops running when you switch off the home computer where it runs. The platform lets you rent a virtual server that runs your signal subscriptions and robots 24/7.

On its own, obtaining MT5 from MetaQuotes provides no UK regulatory protection. The specific broker company that holds your money and runs your trade server provides your protection. Before you deposit, check whether the entity holding your account is the FCA-authorised UK entity, as many international brands operate several companies worldwide.

Check these details on the broker's site and in the FCA register:

• **FCA company and firm reference number: Read the company's exact name from the site footer and check its firm reference number against the FCA register.
• **Account type and tax rules: Check whether the broker offers MT5 through a CFD account or a spread betting account. Our spread betting vs CFD guide explains the UK tax differences.
• **EUR/USD pricing and minimum deposit: Check the stated EUR/USD spread and any commission charged per lot. Check the minimum deposit for your MT5 account next.
• **Retail account losses and position mode: Find the percentage of accounts that lose money. Find out whether your MT5 account uses hedging or netting.