In the world of forex trading, having the right broker can make all the difference in your success. As we approach 2024, the MetaTrader 5 (MT5) platform has become increasingly popular among forex traders for its advanced features and powerful tools. As such, it’s important to find a broker that offers the MT5 platform to take advantage of its capabilities. In this page, we’ll explore some of the best MT5 forex brokers of 2024, highlighting their strengths and key features to help you make an informed decision when choosing the right broker for your needs.
12 Best Forex Brokers 2024
Doo Prime
Best Forex Broker For Swap Free Trading.
Min Deposit
$0
Tradable Instruments
10,000+
Founded
2014
Doo Prime operates globally, with centers in Dallas, Sydney, Singapore, Hong Kong, Dubai, and Kuala Lumpur. Established in 2014, the Doo Group now serves over 40,000 professional clients worldwide under compliance regulations. Doo Prime is regulated by the SEC and FINRA in the U.S., the FCA in the UK, the ASIC in Australia, the FSA in Seychelles, the FSC in Mauritius, and the FSC in Vanuatu.
FXTM
Best MT5 Forex Broker
Min Deposit
$500
Tradable Instruments
1000+
Founded
2011
FXTM is a Cyprus-based global forex and CFD broker that was founded in 2011. It provides forex and CFD trading on commodities and indices through the MetaTrader platform and the FXTM Trader App. FXTM operates in many regions, including Europe, Africa, Asia, and Latin America, and boasts a customer base of 4 million clients across 180 countries.
XM
Best Forex & CFD Trading Broker
Min Deposit
$5
Tradable Instruments
1000+
Founded
2009
XM is a popular online trading platform that allows users to trade in a variety of financial instruments, including forex, stocks, commodities, and indices. The platform is known for its user-friendly interface, low spreads, and high leverage, making it a popular choice for both novice and experienced traders.
HF Markets
Low Fees, Fast Account Opening
Min Deposit
$1
Tradable Instruments
100+
Founded
2010
HFM is regulated by multiple top-tier regulators across the globe. Regulators include FSCA, CySEC, DFSA, FSA, FSA, FCA, FSC, and CMA respectively. Furthermore, HFM keep client funds in segregated accounts and offers Negative Balance Protection partnered with Market leading insurance.
FBS
Best MT4 Forex Broker For Beginners
Min Deposit
$1
Tradable Instruments
164
Founded
2009
FBS Markets is a popular international forex broker, particularly catering to beginner traders. Founded in 2009, they boast a large Indonesian presence, offering extensive educational resources and support in Bahasa Indonesia. FBS offers 24/7 customer support in Bahasa Indonesia, ensuring that you can always get help when you need it.
FP Markets
Best Forex & CFD Trading Provider
Min Deposit
$50
Tradable Instruments
10000+
Founded
2005
Established and regulated since 2005, FP Markets is a global Financial Technology services Foreign Exchange (Forex) and Contracts for Differences (CFD) broker. FP Markets regulated by the Australian Securities and Investment Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the European Securities and Markets Authority (ESMA).
Tickmill
Best broker for choosing trading instruments
Min Deposit
$100
Tradable Instruments
180+
Founded
2014
Tickmill is a global online forex and CFD broker that was founded in 2014. They are headquartered in London, UK, and have regulated entities in the UK, Seychelles, Labuan Malaysia, and South Africa. Tickmill is known for its low spreads, high leverage, and excellent customer service.
Admiral Markets
Forex and CFD trading, extra low trading fees.
Min Deposit
$1
Tradable Instruments
3000+
Founded
2001
Admiral markets has been operational since 2001. The platform offers a variety of trading instruments, including Forex, Commodities, Bonds, and Cryptocurrencies. Admiral markets are under stringent regulation by SySEC, MIFID, and the UK Financial Conduct Authority.
Exness
Most Trusted MT5 Broker
Min Deposit
$1
Tradable Instruments
100+
Founded
2008
Renowned for its robust regulatory framework, Exness stands as a beacon of trust in the online brokerage landscape. Holding licenses from esteemed authorities like CySec, FCA, and FSA, Exness caters to diverse trading needs with a commitment to compliance across various jurisdictions.
JustMarkets
Best Forex Broker For Swap Free Trading.
Min Deposit
$1
Tradable Instruments
170+
Founded
2012
JustMarkets is an international broker with a huge following in Asia, and it was recently rebranded from JustForex to help the company expand. JustMarkets is accessible in over 200 countries, and it offers tight spreads, a wide range of assets, four different account types, and MetaTrader 4 and 5 to its customers.
Admiral Markets
Best Platform for Currency & Metals Trading
Min Deposit
$1
Tradable Instruments
3000+
Founded
2001
Admiral markets has been operational since 2001. The platform offers a variety of trading instruments, including Forex, Commodities, Bonds, and Cryptocurrencies. Admiral markets are under stringent regulation by SySEC, MIFID, and the UK Financial Conduct Authority.
How to choose the best Forex brokers
Choosing the best forex broker is an essential step for anyone who wants to start trading in the forex market. There are many factors to consider when selecting a broker, and it can be challenging to determine which one is the most suitable for your trading needs. Here are some tips that can help you choose the best forex broker:
Regulatory Compliance: It is essential to select a broker that is regulated by a reputable financial authority. Regulatory compliance ensures that the broker operates within the legal framework, and your funds are protected.
Trading Platform: The trading platform is the primary tool for executing trades. You should look for a broker that offers a user-friendly and reliable platform that meets your trading needs.
Trading Costs: Forex brokers make their money through spreads, commissions, or a combination of both. You should compare the trading costs of different brokers to ensure that you are not paying more than necessary.
Customer Service: Good customer service is essential, especially for new traders who may have questions or concerns. You should look for a broker that offers excellent customer support, including live chat, email, and phone support.
Account Types: Forex brokers offer different types of accounts, including demo accounts, standard accounts, and VIP accounts. You should choose a broker that offers an account type that suits your trading style and budget.
In conclusion, selecting the best forex broker requires careful consideration of several factors. You should take your time to research and compare different brokers before making a decision. By following the tips above, you can increase your chances of finding a broker that meets your trading needs.
