Best MetaTrader 5 Brokers
MetaTrader 5 is the successor to MetaTrader 4, the world's most popular trading platform. We've reviewed the best MT5 brokers in Tanzania, and highlighted those that allow all trading styles and Expert Advisors.
Best brokers
- Pepperstone Best Forex Broker Overall - C...
- LiteFinance Best ECN Broker Africa 2020
- 4XC Best Customer Service 2022
- AvaTrade Best Mobile Trading Platform ...
- Equiti Most Innovative Broker 2021 -...
Broker reviews
Pepperstone (Pepperstone.com) is an award-winning broker regulated in 7 jurisdictions. Trade over 1,200 instruments on MetaTrader 4, 5, TradingView or cTrader. Pepperstone allows all trading styles, with no restrictions, and rewards large traders with volume-based discounts.
- Risk warning: Between 74% and 89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)* Availability subject to regulation.
- Platforms: MT4, MT5, cTrader
- Regulators: Australia, Bahamas, Cyprus (EU) , Germany, Kenya, UAE , UK
$200 | 1:500 | Market | |
$200 | 1:500 | Market | |
$200 | 1:500 | Market | |
$200 | 1:500 | Market | |
LiteFinance (LiteFinance.com), formerly LiteForex, is a global ECN broker. Trade CFDs on a wide range of markets on Metatrader 4 or 5, with flexible leverage up to 1:1,000. LiteFinance accepts all EAs and trading styles, including scalping and news trading.
- Risk warning: 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: MT4, MT5, Copy trading, Mirror trading
- Regulators: Cyprus (EU) , Saint Vincent and the Grenadines
$50 | 1:1000 | Market | |
$50 | 1:1000 | Market | |
4xc.com is an offshore broker founded by Forex industry veterans. Trade Forex, metals, oil and stocks with leverage up to 1:500. 4XC accepts all trading styles and Expert Advisors on MT4 and 5.
- Risk warning: Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors as you could sustain losses in excess of your deposits. You should carefully consider your financial situation and experience level before trading.
- Markets: Forex (CFD), Cryptos (CFD)*, Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: MT4, MT5
- Regulators: Cook Islands
$10 (MT4), $ 100 (MT5) | 1:500 | Market | |
AvaTrade (AvaTrade.com) is an award-winning online broker. Trade CFDs on Forex, crypto-currencies, shares, metals and more on MetaTrader 4 or 5. AvaTrade accepts all Expert Advisors except those with a focus on arbitrage.
- Risk warning: 77.82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)* Availability subject to regulation.
- Platforms: MT4, MT5, Copy trading
- Regulators: Australia, BVI, Cyprus (EU) , Gibraltar, Israel, Japan, South Africa, UAE
$100 | 1:400 | Instant | |
$100 | 1:30 | Instant | |
$100 | 1:400 | Instant | |
$100 | 1:30 | Instant | |
$100 | 1:400 | Instant | |
Trade CFDs on 400+ instruments on leverage up to 1:500. Get superior execution through its network of 35+ liquidity providers. Equiti.com accepts all trading styles, without restrictions.
$500 | 1:500 | Market | |
$10000 | 1:500 | Market | |
$50000 | 1:500 | Market | |
FxPro (FxPro.com) is a global broker, winner of 95+ awards including "Best MetaTrader Broker" in 2020. Trade 250+ instruments across a wide range of asset classes on MT4/5 or cTrader. FxPro accepts all trading styles without restrictions.
- Risk warning: 84.69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs and Spread Betting work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)* Availability subject to regulation.
- Platforms: MT4, MT5, cTrader, Copy trading
- Regulators: Bahamas, Cyprus (EU) , South Africa, UK
$500 | 1:200 | Market | |
Access over 12,000 instruments, including real equities and CFDs on Forex, crypto-currencies and oil, from a single platform. RoboForex is an offshore broker based in and regulated in Belize.
- Risk warning: 58.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)* Availability subject to regulation.
- Platforms: MT4, MT5, cTrader, Copy trading
- Regulators: Belize
$10 | 1:2000 | Market | |
$10 | 1:500 | Market | |
Trade without restrictions with OctaFX (OctaFX.com), an international broker headquartered in St. Vincent & The Grenadines. OctaFX supports all trading styles and EAs.
$100 | 1:500 | Market | |
JustMarkets (formerly JustForex) is an offshore broker that allows you to trade over 170 instruments on low spreads, and high leverage up to 3,000 times your initial deposits. It accepts all trading styles on MetaTrader 4 and 5.
- Risk warning: Margin trading in the financial markets is speculative and implies a high level of risk, including full loss of deposit.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: MT4, MT5, Copy trading
- Regulators: Cyprus (EU) , Seychelles
$1 | 1:3000 | Market | |
$100 | 1:3000 | Market | |
$100 | 1:3000 | Market | |
HFM (HFM.com), formerly known as Hot Forex, is an award-winning Forex and CFD broker, with accounts tailored to new and experienced traders. Trade a wide range of markets including Forex, stocks, indices and commodities through MetaTrader 4 or 5.
- Markets: Forex (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)* Availability subject to regulation.
- Platforms: MT4, MT5, Currenex, Copy trading, Mirror trading
- Regulators: Cyprus (EU) , Kenya, Saint Vincent and the Grenadines, Seychelles, South Africa, UAE
$5 | 1:1000 | Market | |
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Unbiased Reviews
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Here For You
Compare trading accounts and find the best one for you, based on your preferences.
We’ve highlighted a number of criteria to keep in mind when comparing MT5 brokers, regardless of your experience or trading preferences.
Differences between MetaTrader 4 and MetaTrader 5
MetaTrader 5 is an updated version of the MetaTrader trading platform, released in 2011. But surprisingly, it remains less popular to this day than MetaTrader 4, even though it's significantly more powerful than its predecessor:
- With MT4, you can trade Contracts for Difference (CFDs) on Forex, stocks, indices, commodities and cryptocurrencies. MT5 goes further by allowing you to trade futures and even options. Please note that the range of markets will ultimately on your broker.
- MT5 can handle an unlimited number of instruments, whereas MT4 is limited to 1,024 instruments. This is relatively little to the extent that thousands of shares are available to trade on the world's stock exchanges.
- MT5 incorporates fundamental data sourced from leading sites like Yahoo Finance, Google Finance and Finviz. This could be particularly useful if you're into fundamental analysis.
- MT5 shows real trading volumes (in lots) directly within the platform. Some traders use depth of market information to try to predict short term changes in prices. That information simply isn't available in MT4.
- MT5 includes historical prices for a wide range of instruments, which makes it easy to backtest and optimise trading strategies directly within the platform. In addition, MT5's Strategy Tester module is significantly faster and more advanced than MT4's.
Expert Advisors
Expert Advisors, also known as EAs, are trading robots that run inside MetaTrader. They can perform technical analysis on the fly, open and close trades automatically when certain criteria are met, and even copy other traders. EAs are popular because they require no human intervention and can take emotion out of trading. Some MT5 brokers place restrictions on EAs, but others like FPMarkets.com and FxPro.com support all trading styles and allow all Expert Advisors.
Trading Signals
Some MT5 brokers go further and customise their MT5 platform with technical indicators and trading signals. This is the case with FxPro, which integrates Trading Central signals directly into its platform. Trading Central uses algorithms to identify the best trading opportunities in over 8,000 markets, and brings you new ideas every day. Open a free account with FxPro to get instant access to Trading Central.
Education
Education is one of the keys to success, whether you are an experienced trader, or perhaps just starting out. If you are keen to improve your skills, look for a broker that offers a wide range of educational resources. Some brokers, like FPMarkets.com, offer free online trading courses, regular webinars as well as podcasts. Others, like HYCM.com, conduct live trading sessions on a weekly basis, which you can attend for free, even with a demo account.
Fees
Last but not least, be mindful about spreads and commissions, as they will have an immediate impact on your bottom line. Most brokers earn money through the spread, which is the difference between the price at which you can buy and sell an instrument. Some charge fixed spreads, others charge variable spreads that fluctuate with market conditions. Most brokers provide information about their trading fees on their website, prior to registration.
If you’re short on time, why not open a free account with 2 to 3 brokers featured on this page. This will allow you to test-drive their service and assess their fees and MT5 platform in a live trading environment.
Featured Brokers
Best Execution
ECN XL Account
Trade CFDs on 70+ currency pairs, crypto-currencies, commodities and indices with leverage up to 1:... More
Best Conditions
MT5 Floating - Market Execution
Trade 70+ currency pairs, indices, energies and metals on floating spreads with market execution. ... More
Best Platform
Razor Account [cTrader, TradingView]
Trade Forex on raw spreads, sourced directly from Pepperstone's liquidity providers, plus a ... More
- $200 deposit
- 1:30 leverage
- 0.17 pips EUR/USD
- Regulators: Australia, Bahamas, Cyprus (EU) , Germany, Kenya, UAE , UK