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The successor terminal: more timeframes, real depth of market and genuine multi-asset support.
Below: what MetaTrader 5 does well, where it frustrates people, who it genuinely suits, and the FCA-authorised brokers that support it — ranked on the pricing and execution sitting behind the terminal rather than on the terminal alone.
FCA regulated, FSCS £85K, since 2010
Rated 4.9 out of 5 after live-account testing by the desk.
Min spread
0.0 pips
Min deposit
£0
Regulator
FCA
Best for
Lowest all-in FX cost
CFDs are complex instruments. Your capital is at risk.
On this page
The successor terminal: more timeframes, real depth of market and genuine multi-asset support. It has been in the market since 2010 and is built by MetaQuotes.
We cover the strengths, the weaknesses nobody advertises, who should and should not use it, and the FCA brokers that support it. Best suited to traders who want one terminal across fx, indices, commodities and shares.
The successor terminal: more timeframes, real depth of market and genuine multi-asset support. Judged purely as software it is neither the newest nor the prettiest option available, and that is not the point: platforms earn their place through reliability, the depth of what they let you build, and how well they survive a fast market.
Traders who want one terminal across FX, indices, commodities and shares is the honest use case. Traders outside that description can certainly make it work, but they will spend time fighting the tool instead of the market, and that time is not free.
Remember that the platform is the thinnest layer of the decision. Two brokers offering the identical terminal can differ by a full pip on the same instrument, and no amount of charting quality closes that gap.
What MetaTrader 5 does better than the alternatives, and where it will annoy you. Both lists come from using the platform on funded accounts rather than from a feature comparison table.
Traders who want one terminal across FX, indices, commodities and shares. If that matches how you intend to trade, the platform will repay the time you spend learning it, and the learning curve is front-loaded: a fortnight of deliberate practice covers most of what you will ever use.
If it does not match, be honest about that before you build a workflow on top of it. The cost of switching platforms is not the software, it is the templates, alerts, scripts and muscle memory that have to be rebuilt.
One practical test: open a demo at two brokers offering the platform, place the same trade on both, and compare fills and spreads at the same moment. The platform will feel identical; the pricing will not, and that tells you which decision actually matters.
Desk shortlist
Authorised UK firms supporting MetaTrader 5, ranked on the six factors we score every broker against. Platform availability can vary by account type, so confirm it on the account you intend to open.
Lowest all-in FX cost. MT4, MT5, cTrader, TradingView.
£0
Deposit
0.0 pips
Spread
Deep FX research. MT4, MT5, TradingView.
£100
Deposit
0.4 pips
Spread
Raw spreads, low commission. MT4, MT5.
£100
Deposit
0.0 pips
Spread
Fast, reliable execution. ActivTrader, MT4, MT5.
£0
Deposit
0.5 pips
Spread
Great educational library. MT4, MT5.
£100
Deposit
0.5 pips
Spread
| # | Broker | Rating | Min. deposit | Spread from | Platforms | FCA | Action |
|---|---|---|---|---|---|---|---|
| 6 |  FxPro UKNo dealing desk modelNo dealing desk model | ★★★★★4.6 | £100 | From 0.3 pips | MT4, MT5, cTrader | ✓ | Trade NowReview |
| 7 |  Swissquote UKBank-backed securityBank-backed security | ★★★★★4.6 | £1,000 | From 0.6 pips | Advanced Trader, MT4, MT5 | ✓ | Trade NowReview |
| 8 |  Vantage UKRaw ECN accountRaw ECN account | ★★★★★4.5 | £50 | From 0.0 pips | MT4, MT5, ProTrader | ✓ | Trade NowReview |
| 9 |  ThinkMarkets UKStrong mobile platformStrong mobile platform | ★★★★★4.4 | £0 | From 0.0 pips | ThinkTrader, MT4, MT5 | ✓ | Trade NowReview |
| 10 |  HYCM UKLong trading heritageLong trading heritage | ★★★★★4.4 | £20 | From 0.2 pips | MT4, MT5 | ✓ | Trade NowReview |
Platform FAQ
The questions we are asked most often about this platform by UK traders.
Ask the deskStill deciding which broker?
Our #1-ranked FCA broker for 2026 is IG, tested live from our desk with £0 minimum deposit and spreads from 0.6 pips.
IG, Best UK Broker 2026
FCA · FSCS £85K · Since 1974
The terminal itself is provided free by the broker in almost every case. Costs come from the spread, commission and financing on the account behind it, and occasionally from a paid tier on the vendor's own subscription.
The ranked list above shows the FCA-authorised firms we track that support it, with minimum deposits and spreads for each.
Most platforms now run through a browser or a native mobile app as well as on desktop. Feature parity is close but not exact, and automation in particular is usually desktop-only.
Not directly, but the account type attached to it does. Raw-spread accounts with commission usually work out cheaper for active traders than commission-free accounts with a wider spread.
Expert advisors written for MT4 will not run without a rewrite Smaller third-party ecosystem than MT4 Hedging versus netting account modes confuse newcomers
Traders who want one terminal across FX, indices, commodities and shares
Risk warning
CFDs and spread bets are leveraged products and the majority of retail accounts lose money. Figures on this page are researched from firm documentation and live accounts, but pricing, funding routes and account terms change without notice. Check the broker's own terms and the Financial Services Register before you deposit, and never risk money you cannot afford to lose.