The best MT5 brokers
Pepperstone is our top MT5 broker: it scores 92/100, is licensed by ASIC, FCA, CySEC and DFSA, has no minimum deposit and published a 0.1-pip average Razor spread on EUR/USD for August 2026. IG is the pick if regulation matters most, IC Markets for raw spreads across 2,850+ instruments, Tickmill for the lowest commission ($6 round turn) and Eightcap if you want MT5 alongside TradingView and TradeLocker. All figures were verified November 2026.
Our picks
- Pepperstone: best overall, with published average spreads, top-tier licences and a $0 minimum.
- IG: best regulated, licensed in more top-tier jurisdictions than most peers, but spread-only pricing.
- IC Markets: best for raw spreads and range, with a 0.1-pip average and 2,850+ instruments.
- Tickmill: lowest commission at $6 round turn on its Raw account, FCA and CySEC licensed.
- Eightcap: MT5 plus TradingView and TradeLocker, with ASIC, FCA and CySEC licences.
MT5 broker comparison
| Score | EUR/USD cost | Min deposit | Top-tier regulators | Other platforms | |
|---|---|---|---|---|---|
| Pepperstone | 92/100 | Razor avg 0.1 pips + $7 RT | $0 | ASIC, FCA, CySEC, DFSA | MT4, cTrader, TradingView, Pepperstone platform |
| IG | 91/100 | Spread-only from 0.6 pips (no current average) | $50 by card | FCA, BaFin, ASIC, FINMA, MAS and more | MT4, TradingView, ProRealTime, L2 Dealer, IG web and mobile |
| IC Markets | 88/100 | Raw avg 0.1 pips + $7 RT | $200 | ASIC, CySEC | MT4, cTrader, TradingView, IC Social, ZuluTrade |
| Tickmill | 84/100 | Raw from 0.0 pips + $6 RT | $100 | FCA, CySEC | MT4, TradingView, Tickmill Trader |
| Eightcap | 83/100 | Raw from 0.0 pips + $7 RT | $100 | ASIC, FCA, CySEC | MT4, TradingView, TradeLocker |
None of these five accepts US clients on MT5 according to our data. IG accepts US clients through IG US, but our data does not confirm which platforms IG US offers.
1. Pepperstone: best MT5 broker overall
Pepperstone ranks first in our methodology at 92/100. It publishes real average spreads, not just minimums: 0.1 pips on Razor EUR/USD and 1.1 pips on Standard in August 2026, with $7 round-turn commission on MT4/MT5. There is no minimum deposit, and clients in the UK, EU and Australia get their local regulator and 30:1 retail leverage caps.
Drawback: US residents are not accepted, some international sign-ups may be placed with the offshore Bahamas entity, and it does not publish an instrument count.
2. IG: best regulated MT5 broker
IG (91/100) was founded in 1974, belongs to a FTSE 100-listed group and is regulated by the FCA, BaFin, ASIC, FINMA, MAS, DFSA, JFSA and FSCA, plus the CFTC and NFA for IG US. It offers MT5 alongside MT4, TradingView, ProRealTime and L2 Dealer. The minimum deposit is $50 by card.
Drawback: there is no raw-spread forex account for retail clients. EUR/USD is spread-only from 0.6 pips, and the latest published average dates from 2021, so we score its costs conservatively.
3. IC Markets: best for raw spreads and range
IC Markets (88/100) averages 0.1 pips on Raw EUR/USD with $7 round-turn commission on MT4/MT5 and lists 2,850+ instruments. Its ASIC and CySEC entities cap retail leverage at 30:1.
Drawback: its global site onboards clients through Raw Trading Ltd, regulated by the FSA Seychelles, with leverage up to 1:5000 and fewer protections. Official pages give conflicting standard-account spreads, and the minimum deposit is $200. Compare it in Pepperstone vs IC Markets.
4. Tickmill: lowest MT5 commission
Tickmill (84/100) charges $6 round turn on its Raw account, among the lowest commissions we track, with spreads from 0.0 pips and a $100 minimum deposit. It is regulated by the FCA (717270) and CySEC (278/15), as well as the DFSA and FSCA.
Drawback: it publishes no average spreads, offers a narrower range (180+ instruments), and international clients are usually served by its Seychelles entity with leverage up to 1:1000. See IC Markets vs Tickmill.
5. Eightcap: MT5 plus TradingView and TradeLocker
Eightcap (83/100) pairs MT4 and MT5 with native TradingView and TradeLocker support. Its Raw account starts from 0.0 pips plus $7 round turn, the minimum deposit is $100 and there is no inactivity fee. It holds ASIC, FCA and CySEC licences with 30:1 leverage.
Drawback: it publishes only "from" spreads, not averages, and its global site lists only offshore entities (Bahamas, Seychelles, Mauritius), where leverage reaches 1:500.
Worked example: round-turn cost on 1 lot EUR/USD
One standard lot of EUR/USD is 100,000 euros, where a pip is worth about $10.
- Pepperstone Razor: 0.1 pips ($1) + $7 = about $8.
- IC Markets Raw: 0.1 pips ($1) + $7 = about $8.
- Tickmill Raw: $6 commission plus whatever the spread is; no average is published, so the true cost is at least $6.
- Eightcap Raw: $7 commission plus the spread; at least $7.
- IG: spread-only from 0.6 pips, so at least $6, with no current average to compare.
Only Pepperstone and IC Markets publish averages, so theirs are the only like-for-like figures. Check your own pairs with the pip value calculator.
MT5 brokers we did not pick
XM (80/100) supports MT5 and has a $5 minimum deposit, but its Standard spreads start at 1.6 pips (about $16 per lot round turn) and xm.com is operated by its Belize entity with leverage up to 1000:1; see XM vs IC Markets. OANDA lists "MetaTrader (varies by region)", so we could not confirm MT5 availability. Interactive Brokers does not offer MT4 or MT5.
How we chose
We filtered our ranked brokers to those whose verified platforms include MT5 and ordered them by WizardTrader score, which weighs regulation (35), costs (25), platforms (15), access (10) and track record (15). See the methodology and trading platforms compared.
What to check before you open an account
- Your entity. Several picks run offshore entities with higher leverage and weaker protections.
- Average, not minimum, spreads. "From 0.0 pips" tells you little about typical cost.
- MT5 on your account type. Confirm MT5 is offered on the account and in the region you need.
- Leverage. Read leverage and margin explained and size trades with the position size calculator.
Sources
Provider data on this page was verified November 2026 against these sources:
Pepperstone
- Pepperstone: licensing and regulation
- Pepperstone: trading accounts
- Pepperstone: who we are
- Pepperstone Financial Services Guide (PDF)
IG
IC Markets
Tickmill
Eightcap
Trading involves substantial risk of loss and is not suitable for everyone. CFDs and leveraged forex can lose you money rapidly, and you can lose more than you expect if you size positions badly. Past performance does not guarantee future results. This page is general information, not financial advice. Rankings are editorial and not paid. Read our risk disclaimer and advertiser disclosure.