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MetaTrader 5 Review

The multi-asset successor to MT4 (by MetaQuotes), adding more timeframes, order types and asset classes. Offered through brokers.

Ranking is not affected by commissionsLast checked 2 Jul 2026
Overall score
3.8
out of 5
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Best for

  • Multi-asset traders
  • Automated trading (EAs)
  • Strategy backtesting

Not best for

  • You want a simple beginner app
  • You prefer a modern consumer UI

Our verdict & scoring

MetaTrader 5 (MT5) is the multi-asset successor to MT4, supporting forex, futures, and (via brokers) equities, with more timeframes, order types, an economic calendar and a faster strategy tester. Like MT4 it's provided by brokers, not sold directly, and is increasingly the default for new deployments.

Scores are based on our review methodology. Affiliate relationships do not buy higher ratings.

Pros

  • Multi-asset support
  • Stronger strategy tester than MT4
  • EA automation ecosystem

Cons

  • Still a learning curve
  • Not fully backward-compatible with MT4 EAs
  • Broker-dependent

Fees & hidden costs explained

Free platform; costs come from the broker you use it with.

Safety, regulation & availability

MT5 is trading-terminal software, not a broker. Regulation and protection depend on the broker you connect it to.

Account protection: Not a broker — holds no client funds; protections depend on the connected broker.

Available to retail traders in:

United StatesUnited KingdomEuropean Union

Verify this platform yourself:

Official sources

Risk warning: Trading stocks, options, futures, forex, crypto, CFDs and funded accounts involves risk. You can lose money. This website is educational only and does not provide financial, investment, tax or legal advice.

Leverage, volatility, fees, spreads, liquidity and platform rules can increase losses.

Affiliate disclosure: We may earn a commission when you click some links on our site. This does not cost you extra. Our comparisons are educational and transparent, and our rankings are not affected by commissions.