Trading in financial markets requires the right choice of a broker, as security of traders’ funds, their profit and opportunities depend on it. Before you start working with a company, it is important to comprehensively assess it. Traders Union analysts have already done it for you. The experts prepared a review of the Best MT5 Brokers in the World for 2024. Five companies that enjoy huge popularity in the World were selected and compared between each other.
1
RoboForex - Best in the World for 2024
RoboForex bonus programs are the company's strong points. Every trader gets a $30 Welcome Bonus, if they deposit $10 or more to their account. Additional bonuses include 5%-15% cash back on the fees depending on the trading volume, as well as additional 10% extra funds for more than 1,000 traded.
The minimum deposit on all accounts except R StockTrader is $10. The minimum deposit for trading stocks on the R StocksTrader and copying trades on the CopyFx platform is $100. The spread on Prime and ECN accounts is floating, from 0 pips, on Pro and ProCent accounts – floating from 1.3 pips. You can trade 36 currency pairs, metals and CFDs on this type of account.
For trading, RoboForex has available the following applications: MetaTrader 4, MetaTrader 5, and R StocksTrader, as well as its web terminal, on which you can work on real and demo accounts.
Leverage is up to 1:300-1:500 depending on the account type, as required by the regulatory authorities. The leverage on the cent account is up to 1:2000. On standard accounts, manual increase of leverage to 1:2000 is possible during registration, but this option is subject to certain rules. This parameter is appreciated by experienced traders and amateurs of aggressive trading. With RoboForex, you can earn not only on trading but also on the affiliate program, making a profit from users you have referred to a broker. Multilingual support helps market participants solve their pressing problems 24/7.
2
Exness - Best in the World for 2024
Due to an expanded range of trading accounts, Exness is suitable for both professionals and novice traders with little or no experience. The former trade on Pro accounts, and the latter trade on standard and cent accounts. Occasionally, Exness pays bonuses to its new and existing clients.
Not every broker can compete with the range of trading instruments offered by Exness. The company provides 5 classes of CFDs. Commodities can be split into two more groups — metals and energies. The choice of currency pairs is one of the widest on the market. There are over 100 pairs, including majors, minors, and exotics. Leverage is up to 1:2,000 on all account types. Further, active traders can use unlimited leverage subject to requirements for the number of traded lots. The requirements for standard and professional account types are 5 lots, for the cent account, it is 500 lots. The swap-free option is available for all account types.
Market execution is available for trades with currency pairs, indices, stocks, and commodities. Trades on the Pro account are executed instantly. This rule doesn’t apply to cryptocurrencies. Only market execution is available when trading those. Trading conditions on one account type on different platforms are similar. That is, swaps and spreads for Standard account types on MT4, MT5, or Exness in-house platforms are the same.
3
Eightcap - Best in the World for 2024
The minimum deposit for most brokers is determined by the account type. That is, in order to trade with real money, you need to deposit a certain amount. For example, from $10 or $1,000. With Eightcap, the minimum deposit is $100 regardless of the account type. Thus, traders need to deposit at least this amount when opening a live account. Further, traders can focus only on their own preferences and the minimum trade volume, which is a standard lot of 0.01. Leverage also does not depend on the account type but on the asset. The highest trading leverage, which is always relevant for currency pairs, is 1:500. This is more than enough to increase the profit potential, although the risk increases proportionally. The broker's technical support is ready to respond promptly by phone, email, or live chat. An important plus is that multilingual support works 24 hours a day, but not on weekends.
4
FBS - Best in the World for 2024
The FBS brokerage company offers very attractive trading conditions for traders living all over the world. The minimum trade volume is 0.01 lot for all trading accounts. The minimum deposit is EUR 10 and the spread is 1 pip. Traders can connect an Islamic account option to all live accounts, allowing them to trade according to Sharia law. Popular and exotic currency pairs, indices, futures, and metals are offered as trading instruments.
5
TeleTrade - Best in the World for 2024
TeleTrade offers its clients rather enticing trading conditions. The minimum trade volume is 0.01 lots for all trading accounts, and the minimum spread is 0.2 pips. The minimum deposit is $10. The company's clients can trade on three types of real accounts, as well as copy trades of experienced traders. The broker offers wide range of financial instruments: in addition to currency pairs, you can trade indices and cryptocurrencies.
TOP 5 Comparison
In order to choose the Best MT5 Brokers in the World in 2024, TU analysts chose 5 best brokers in this country. In the table below, you can see a basic comparison of these companies. Experts selected only the most reliable brokers that are popular among traders in the World.
| RoboForex | Exness | Eightcap | FBS | TeleTrade | |
|---|---|---|---|---|---|
|
Trading platform |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MT5 |
MT4, Mobile Trading |
MT4, MT5 |
|
Min deposit |
$10 |
$10 |
$100 |
$1 |
$1 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:30 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
|
Spread |
From 0 points |
From 1 point |
From 0 points |
From 0.2 points |
From 0.8 points |
|
Level of margin call / stop out |
60% / 40% |
No |
80% / 50% |
40% / 20% |
70% / 20% |
|
Execution of orders |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
Market Execution, Instant Execution |
|
No deposit bonus |
No |
No |
No |
$5 |
No |
|
Cent accounts |
Yes |
No |
No |
Yes |
No |
TU Expert Review for the best MT5 Brokers in the World
Financial expert and analyst at Traders Union
Anton joined Traders Union as a financial expert and analyst in 2013. He performs comprehensive internal testing of brokers as a trader. Essentially, Anton “test drives” brokers: he checks the operation of the website and user account, the speed and effectiveness of customer support team, stability of the software, deposit and withdrawal processing times, legal documents of companies and also all additional services (VPS, affiliate programs, contests, bonuses, educational programs, etc.). Based on the results of his “inspections”, he prepares expert conclusions about the operation of brokerage companies in the Forex, stock and binary option markets and also of the cryptocurrency exchanges.
His opinion as for the best MT5 Brokers in the World is posted below.
RoboForex - TU Expert Review
Over the years, this broker has shown itself to be a reliable and trusted partner. RoboForex provides clients with the best conditions: tight spreads from 0 pips, the highest execution speed, and micro-accounts with a lot of 0.01. The positive feedback from real traders about RoboForex, instant withdrawal of funds, and operational support are what impress me about this broker. The brokerage company offers quality services to both beginners and seasoned traders. Over the years of cooperation with RoboForex, the broker has not received any significant claims against it. Therefore RoboForex is quite popular among Traders Union clients. All financial issues and claims on the broker's work are resolved by the company's representatives as quickly as possible and within minimum time. RoboForex always meets its clients and partners halfway. Following the mass of positive reviews about the work of roboforex.com, Traders Union recommends this company as a trusted broker with a high trust rating.
Exness - TU Expert Review
Exness has been providing its services since 2009. Over this period, the company has opened its representative offices worldwide, obtained licenses from many regulatory authorities, and provided in-house platforms for active and passive trading. Its client investments are protected by the Compensation Fund of the Financial Commission. Additional security measures, such as holding client funds in segregated accounts, ensure their safety and blocking from unauthorized use. Today, Exness is one of the biggest European and global brokers with a monthly trading volume of $4.44 trillion. This data is provided on the company’s website in the public domain. Also, there are reports of independent audits regularly held by Deloitte, a highly reputable auditor. Exness wants to be a universal broker for traders with any capital, experience, and strategy. Moreover, its partnership programs with favorable conditions allow the broker to expand its already extensive client base.
Eightcap - TU Expert Review
Eightcap has been in business for 14 years. This is one of the largest brokers with millions of clients globally. It is registered in Seychelles and the Bahamas, and controlled by SCB. All this indicates the reliability and transparency of the company. Nevertheless, Traders Union experts checked it and found no confirmed conflicts with its clients, problems with tax reporting, or other negative aspects. In terms of trading conditions, Eightcap rightfully takes one of the leading positions. The reason is that it manages to keep extremely low spreads. The declared indicator for account types with a raw spread is from 0 pips. The broker does not hide anything, thus current spreads can be checked on the website. For a number of assets, they really start from 0 pips, while the average indicator is about 0.5-0.7 pips. For most other brokers such parameters seem unreachable. But spreads are not the only advantage of Eightcap. The broker offers over 800 assets. This is an impressive number, but keep in mind that those are CFDs only. That is, currencies, cryptocurrencies, stocks, indices, and commodities are not available as independent instruments, but only in the form of CFD trading. This is not necessarily a disadvantage; traders just need to understand what they are working on. No other broker provides so many CFDs on cryptocurrencies. Plus, the maximum leverage is 1:500. By itself, the indicator is market average, however, in combination with other advantages of the broker, it provides much more opportunities. Eightcap has no options for passive income, and this can really be defined as a conditional disadvantage. There is not even a referral program, that is, the company's clients can earn only by actively trading in the available markets. Also, you can trade via MT4/MT5 from a desktop or smartphone, while the TradingView solution is available for browsers. Here the broker also offers comfortable working conditions. That's why its clients love it.
FBS - TU Expert Review
The FBS broker fulfills its obligations as a partner to Traders Union and is recognized by the members of the Union as a company that offers clients optimal trading conditions. The FBS brokerage company provides traders with several trading accounts to choose from: a free demo account and several types of real accounts with different conditions. This allows its clients to choose the best option based on the trading strategy and financial instrument, as well as individual requirements. The broker provides all traders with negative balance protection. Considering all this, we can say that the FBS broker is suitable for both novice traders and professionals of foreign exchange trading. It should be noted that the company's support service works around the clock, 7 days a week, and you don't have to wait long for an answer. The broker's website is simple, you can understand it intuitively.
TeleTrade - TU Expert Review
Traders Union has been working with the company since 2012. Over this time, a lot of reviews have been received about the broker from the TU clients, which you can find on this page. All reviews are moderated and then published. Therefore, they contain relevant information about traders’ experience of working with TeleTrade. Each TU client who opened an account with a brokerage company is entitled to free legal support, as well as advice on general issues related to the broker’s performance. TeleTrade Company offers its clients the opportunity to trade 28 currency pairs, as well as metals, indices, stocks and energies. Cryptocurrency trading is also available. Traders canopen a free demo account and trade virtual funds. The broker also provides several types of real accounts, which allows you to choose the best option in terms of conditions. Thanks to a large analytical section and loads of educational information, the company attracts a lot of novice traders. A wide range of technical analysis tools and the possibility to use various strategies, including pipsing, are the main reasons why experienced traders open an account with TeleTrade.
Summary
Many brokers operate in the World, but not all of them are reliable or offer attractive trading conditions. TU experts selected 5 companies and rated them based on collected data. By reviewing them, you will learn about the Best MT5 Brokers in the World 2024 and will be able to evaluate the pros and cons of its closest competitors.
Overall score of the best MT5 Brokers in the World
| RoboForex | Exness | Eightcap | FBS | TeleTrade | |
|---|---|---|---|---|---|
|
Overall score |
8.61 |
7.58 |
7.69 |
8.28 |
7.19 |
|
Execution of orders |
8.95 |
9.6 |
7.9 |
9.5 |
3.21 |
|
Investment instruments |
8.2 |
8.79 |
8.5 |
6.96 |
6.7 |
|
Withdrawal speed |
9.71 |
8.79 |
7.6 |
9.57 |
7.79 |
|
Customer Support work |
9.17 |
9.29 |
7.2 |
7.58 |
8.41 |
|
Variety of instruments |
8.75 |
8.02 |
8.02 |
7.02 |
8.75 |
|
Trading platform |
6.86 |
1 |
6.9 |
9.03 |
8.29 |
|
|
|||||
|
|
|
|
|
|
|
FAQ
Why is a license important for a broker?
License is the key document testifying to the broker’s reliability. It means that the company complies with the requirements of the financial regulatory authority that issued it. It is recommended that you choose brokers with licenses from top financial regulators: the USA, European Union, the UK, as these jurisdictions have the strictest licensing requirements.
What learning instruments can a broker offer?
Brokers offer various educational options. These include full-fledged educational courses, or video tutorials, articles, and books. Companies also often hold seminars and webinars.
Does the choice of a beginner differ from the choice of an experienced trader?
Yes. A novice trader should primarily consider the availability of educational tools and a demo account, as well as basic assets. A more experienced trader is interested in wider opportunities on advanced account types, a wider choice of instruments for technical analysis, and a greater number of trading instruments.
Can you earn passive income in the financial markets?
Yes, the best brokers of The World offer passive income options. These could include copy trading, PAMM accounts, managed portfolios, etc.
Best MT5 Brokers by Countries
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.