This article is written to point you to the best US forex brokers MT5, however, at the moment US citizens cannot use Mt5 for trading, as it is only available to clients outside the US.
When trading the forex market, irrespective of your trading capital or trading strategy, you must choose the right broker that works with your trading style.
Forex brokers offer a lot of options for clients to choose from, this option could be in their leverage, spread, and swap fee. Etc.
These brokers can offer this in Mt4 or MT5, however, in this article, our main focus will be on US forex brokers MT5.
BEST PLATFORM FOR CURRENCY TRADING
There are hundreds of brokers out there who make a lot of claims, but only a few of them deliver on their promises.
I’ve used a lot of brokers over the years, and I’ve found that XM is the best platform for currency trading.
Sit back and let me list out the benefits of choosing XM as your broker:
In 2009, XM Broker was established. Initially, the company catered to a certain segment of the trading market, specializing solely in foreign exchange market intermediary services.
Since then, it has seen a lot of success and expansion. XM is a trustworthy and secure service. It has grown to become an international broker with operations in about 190 countries around the world.
XM Broker has attracted 3,5 million traders over the last decade by providing innovative technology solutions. The organization is now known for being the Fastest Growing Broker, the Best Forex Service Provider, and a variety of other accolades.
Every year, the team at XM Broker works hard to improve the quality of the services they give, as they are committed to giving the greatest service to their clients.
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US FOREX BROKERS MT5
These are the most trusted US forex brokers MT5:
NAME: IG MARKETS
BEST RATED FOR: Most Dependable
REGULATORY AUTHORITY: CFTC, NFA
INACTIVITY FEE CHARGE: YES
NUMBER OF BASE CURRENCY OFFERED: 6
MINIMUM DEPOSIT: 100 USD
WITHDRAWAL FEE: 0 USD
NAME: FOREX.COM
BEST RATED FOR: Best Overall
REGULATORY AUTHORITY: NFA, FSA, FCA, ASIC, CFTC, IIROC, SFC.
INACTIVITY FEE CHARGE: YES
NUMBER OF BASE CURRENCY OFFERED: 6
MINIMUM DEPOSIT: 100 USD
WITHDRAWAL FEE: 0 USD
NAME: OANDA
BEST RATED FOR: Best for Beginners
REGULATORY AUTHORITY: CFTC, NFA
INACTIVITY FEE CHARGE: YES
NUMBER OF BASE CURRENCY OFFERED: 9
MINIMUM DEPOSIT: 0 USD
WITHDRAWAL FEE: 0 USD
NAME: INTERACTIVE BROKERS
BEST RATED FOR: Best for Professionals
REGULATORY AUTHORITY: FCA, SEC, CFTC, SIPC
INACTIVITY FEE CHARGE: YES
NUMBER OF BASE CURRENCY OFFERED: 22
MINIMUM DEPOSIT: 0 USD
WITHDRAWAL FEE: 0 USD
HIGHLIGHTS AND MAJOR CHARACTERISTICS OF XM FOREX BROKERS
| Country of regulation | Cyprus, Australia, Belize, United Arab Emirates |
| Trading fee | Low |
| Inactive fee charge | Yes |
| Withdrawal fee charge | $0 |
| Minimum deposit | $5 |
| Account opening time | 1 day |
| Bank card deposit | Available |
| Electronic wallet deposit | Available |
| Number of base currencies supported | 11 |
| Demo account | Yes |
| Product offered | Forex, CFD, Real stocks for clients under (FSC) |
ADVANTAGES AND DISADVANTAGES OF XM FOREX BROKER
| ADVANTAGES OF XM | DISADVANTAGES OF XM |
| XM Broker promises 100% order execution, with 99.35% of orders completed almost promptly. There will be no requotes. | Services for passive investment (social trading platforms, PAMM accounts). |
| On narrow market spreads (broker’s margins over the spread), there is no “markup.” | Increasing the number of trading platforms available to them. Even though the broker offers 16 trading terminals, they are all MT4 and MT5 derivatives for desktop, browser, and mobile trading. |
| There are almost 1,000 trading instruments available. More than 55 currency pairings, including CFDs on cross rates, metals (including palladium and platinum), commodities (cocoa, cotton, grain), and equities are available for trading. | |
| There are no fees for replenishment or withdrawal of funds. XM Broker is responsible for all payment system commissions. | |
| Throughout the day and night Support is available 5 days a week in over 30 languages. |
FOREX MT5
Forex MT5 offers a wide variety of functions for the modern forex and exchange market trader.
What Forex Mt5 offers:
- Full set of trading orders for flexible Forex, Stocks, and other securities trading.
- Two position accounting systems: netting and hedging.
- Unlimited amount of charts with 21 timeframes and a one-minute history of quotes;
- Technical analysis with over 80 built-in technical indicators and analytical tools.
- Fundamental analysis based on financial news and an economic calendar.
- The largest store of ready-to-use trading applications at MetaTrader Market.
- Powerful algorithmic trading with the built-in MQL5 development environment.
- Trading Signals allows you to automatically copy deals of experienced traders.
- A system of alerts to keep track of all important market events.
- Built-in Forex VPS.
MT5 DEMO ACCOUNT BROKERS
All brokers with MT5 have demo accounts available for clients. You can use Xm for your Demo trading.
METATRADER 5 MINIMUM DEPOSIT
MT5 does not have a minimum deposit requirement. The broker sets the minimum deposit amount. And it differs from one broker to the next.
HUGOSWAY MT5
Hugo’s Way is a professional trader’s ECN Forex broker. With a real ECN broker, you can trade Forex, Cryptos, and Stocks with leverage up to 1:500.
However, at the time of writing this article, Hugosway does not support MT5.