5 Best UK MetaTrader 5 (MT5) Brokers List

Updated May 10 2022

5 Best UK MetaTrader 5 (MT5) Brokers List

Here’s our selection of the 5 Best UK MetaTrader 5 (MT5) brokers for the year 2022:

Broker Reason
Pepperstone Best in low commissions
Oanda Best for beginner to intermediate traders
Markets.com
Best for stocks and ETFs
Forex.com Best in most currencies offered
Swissquote Best in most assets offered

All the above brokers are required to possess a financial license from FCA (Financial Conduct Authority). This grants UK traders a great layer of protection in the event of any dispute as complaints can be dealt with locally.

Each one of these brokers was analysed using our proprietary methodology along with the TTBTrust score (our proprietary safety scoring system) prior to being ranked using our comparison tool.

1. Pepperstone - Best in low commissions

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74-89% of retail CFD accounts lose money.

Pepperstone is an Australian broker founded in 2010 with the aim of providing a professional trading experience with low fees and tight spreads. Currently Pepperstone counts with 7 financial licenses and operates in almost every country around the world.

Key data
Total Asset Offering1650
EUR/USD SpreadDynamic - From 0 to 0.77 Pips
Commissions
  • For Standard account : All fees included in the spread
  • For Razor account: From $7 per Lot round turn
Minimum Deposit$200
Financial Regulators
  • BaFin (Germany)
  • FCA (UK)
  • ASIC (Australia)
  • DFSA (United Arab Emirates)
  • CySec (Cyprus)
  • SCB (Bahamas)
  • CMA (Kenya)
MT4Yes
MT5Yes
cTraderYes
TradingViewYes
Proprietary PlatformNo

Pepperstone holds 7 financial licenses from which 4 belong to high value regulators (including FCA). Their specialty is providing a multi-platform trading environment with a custom account offering for each type of trader.

The GoodThe Bad
  • Well regulated on several jurisdictions
  • Low latency, fast execution under 30ms
  • Competitive spreads and low commissions from 0.0 pips on their Razor account
  • Avaliable asset offering is not that comprehensive
  • No ability to purchase real stocks or cryptocurrencies, only CFDs

Pepperstone is one of the world’s leaders when it comes to commissions and RAW spreads. Traders will have the opportunity to choose between a commission-free account with competitive spreads or a commission-driven account with RAW spreads starting from 0 pips.

2. Oanda - Best for beginner to intermediate traders

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74-89% of retail CFD accounts lose money.

Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.

Key data
Total Asset Offering100
EUR/USD SpreadDynamic - From 0.8 Pips
Commissions

No, but they do charge currency conversion fees. If your account base currency is GBP and you trade the EUR/USD pair, you'll be paying a conversion fee.

Minimum Deposit$, €, £, - 0.
Financial Regulators
  • CFTC (U.S)
  • NFA (U.S)
  • ASIC (Australia)
  • FCA (UK)
  • MAS (Singapore)
  • IIROC (Canada)
  • FFAJ (Japan)
  • BVI (British Virgin Islands)
MT4Yes
MT5Yes
cTraderNo
TradingViewYes
Proprietary PlatformYes

Oanda holds 7 financial licenses from mostly high value regulators (including FCA). Their specialty is definitely the Forex arena as they’re considered the industry standard for currency exchange rates. 

The GoodThe Bad
  • High trustworthiness, regulated by the best regulators in the world
  • Fast, simple and professional trading platforms
  • Competitive spreads in their currency pairs
  • Extremely limited offering of assets (104)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs

Oanda is definitely a user friendly broker as they have a great platform variety and their minimum trade size is amongst the lowest in the industry ($1). They also don’t charge commissions making them a very attractive choice for beginner to intermediate traders looking to experiment in the currencies market.

3. Markets.com - Best for stocks and ETFs

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70% of retail CFD accounts lose money.

Markets.com is an international broker that offers share dealing and CFD trading accounts through their own proprietary platform or MT4 and MT5.

Key data
Total Asset Offering10000
EUR/USD SpreadDynamic - From 0.7 Pips
CommissionsNo comissions on CFDs. For share dealing, the first 3 months are commission free, then the structure is:
  • EU Shares = 0.1% (min €10)
  • UK Shares = 0.1% (min £8)
  • US Shares = 2c (min $15)
  • AU Shares = 0.1% (min A$10)
Minimum Deposit$, €, £ - 100
Financial Regulators
  • CySec (Cyprus)
  • FCA (UK)
  • ASIC (Australia)
  • FSCA (South Africa)
MT4Yes
MT5Yes
cTraderNo
TradingViewYes
Proprietary PlatformYes

Markets.com holds 4 financial licenses from which 2 belong to high value financial regulators (including FCA). They are also a part of the publicly traded company known as Playtech on the LSX.

The GoodThe Bad
  • Clear separation between investors and Traders by offering share dealing accounts and CFD trading accounts
  • Wide range of platforms (Proprietary, MT4, MT5)
  • Wide range of stocks and stock CFDs
  • Minimum trade sizes larger than average
  • Spreads above average

Markets.com has a multi-platform environment accompanied by thousands of assets, especially stocks and ETFs. If you’re looking to access a great variety of stock via MetaTrader 5 from a UK FCA regulated broker, Markets.com can be a great choice for you.

4. Forex.com - Best in most currencies offered

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Majority of retail CFD accounts lose money.

Forex.com is a global broker headquartered in the U.S and part of StoneX (publicly traded company on NASDAQ) that specialises in offering CFDs based on commodities, currencies, indices, stocks, ETFs, shares, bonds and cryptocurrencies.

Key data
Total Asset Offering5500
EUR/USD SpreadDynamic - From 0.8 Pips
Commissions

Yes depending on account type.

  • Standard account has no commissions
  • “Commission Account” and “DMA Account” have a flat $5 fee commission per lot round turn
Minimum Deposit$100
Financial Regulators
  • FINRA (United States)
  • FCA (UK)
  • FFAJ (Japan)
  • IIROC (Canada)
  • CySec (Cyprus)
  • CIMA (Cayman Islands)
MT4Yes
MT5Yes
cTraderNo
TradingViewYes
Proprietary PlatformYes

Forex.com holds 6 financial licenses from which 4 belong to high value regulators. Despite their name being “forex” or “currencies” oriented, they offer a great variety of assets to trade.

The GoodThe Bad
  • Great platform offering (Proprietary, TradingView, MetaTrader 4 & 5)
  • Excellent asset offering (more than 5,000+ instruments)
  • Competitive spreads in some of their assets
  • Despite presenting a great customisable platform, it still feels messy and not intuitive to use
  • Commissions are expensive when compared to similar competitors 

For traders looking to access the most currency pairs available via MetaTrader 5 from a UK FCA regulated broker, Forex.com definitely checks all the boxes.

5. Swissquote - Best in most assets offered

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79% of retail CFD accounts lose money.

Swissquote is a global broker and investment bank headquartered in Switzerland that offers traditional securities and CFD trading along with advanced research tools.

Key data
Total Asset Offering100000
EUR/USD SpreadFrom 0 Pips to 1.3 Pips
Commissions

For CFDs there are no commissions as the spreads are the cost. For other assets from $9 up to $210 based on transaction volume and depending on the exchange.

Minimum Deposit

Varies per account type and selected trading platform. From $0 up to $5,000.

Financial Regulators
  • FCA (UK)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MFSA (Malta)
  • HKMA (Hong Kong)
MT4Yes
MT5Yes
cTraderNo
TradingViewYes
Proprietary PlatformYes

Swissquote holds 5 financial licenses from which 4 belong to high value financial regulators (including FCA). They are a reputable investment bank as well that specialises in offering almost global access to equity markets.

The GoodThe Bad
  • Outstanding asset offering with more than 60 exchanges across the world
  • Amazing research and analysis tools for all trader levels
  • Thematic investments with preconfigured product baskets
  • Offers banking services along with debit card
  • Their proprietary platform lacks many features and is not user friendly
  • Their commissions are extremely high
  • Overall everything feels complicated to use

Swissquote boasts more than 30,000+ tradable assets via MetaTrader 4 or their own proprietary platform. If what you’re looking for is quantity accompanied by FCA regulation, Swissquote can be a great choice for you. On the other hand, bear in mind that being a very “high net worth driven” brand, they can be quite expensive when compared to the majority of their competitors.

Author

Stefano Treviso

Featured Brokers

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FP Markets

75.31% of retail CFD accounts lose money.

2

Pepperstone

74-89% of retail CFD accounts lose money.

3

eToro

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4

SquaredFinancial

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5

Capital.com

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