This guide helps users to find the best forex brokers in UAE with MT5 trading platform integration. MetaTrader 5 is a popular trading platform among retail forex and CFD traders in the UAE. The wide range of brokers with MT5 integration makes it hard for traders and investors to choose the right options for their needs.
Investors that skip the research and comparison of key data can select an online broker with a low range of currency pairs, high spreads & commissions, limited MT5 features and a complex trading interface.
This guide assesses 104 online brokers in UAE for users to review and find the ideal provider for their needs. To help them make an informed decision, a list of the best MT5 forex brokers in UAE is shared below, followed by detailed reviews and comparisons.
Best MetaTrader 5 Forex Brokers in UAE
- AVAtrade – Best For Forex and CFDs
- IC Markets – Best For Active Traders
- Swissquote – Ideal For Investors
- FP Markets – Lowest Trading Fees
- XM – Optimal For Beginners
Top MT5 Brokers in UAE Reviewed
The top MetaTrader 5 brokers in UAE are reviewed in more details below including pros, cons and key features
1. AVAtrade – Best For Forex and CFDs
Min Deposit: $100
Assets available: 4.9
Total Fees: 0.9 pip
71% of retail CFD accounts lose money
2. IC Markets – Best For Active Traders
Min Deposit: $200
Assets available: 3.6
73.59% of retail CFD accounts lose money
3. Swissquote – Best For Investors
Min Deposit: 0
Assets available: 4.9
84.5% of retail investor accounts lose money when trading CFDs with this provider.
4. FP Markets – Best Trading Fees
Min Deposit: 0
Assets available: 3.1
75.31% of retail CFD accounts lose money
5. XM – Best For Beginners
How To Select The Ideal MT5 Broker in UAE?
Criteria that help users choosing the ideal online broker in UAE with MT5 platforms integrations are listed below.
- Additional features offered for MT5 by the broker
The best MetaTrader 5 brokers offer additional features for MT5. For instance, AvaTrade allows forex trading with fixed spreads via MT5.
- The number of forex pairs offered via MT5
Most traders use MetaTrader 5 for forex trading. We look at the number of forex pairs brokers offer as part of their available assets.
- The forex spreads
Fees lower your profit. For this reason, we inspected all fixed and floating spreads brokers offer via MetaTrader 5.
- The forex trading accounts types available
We check if brokers offer Raw or Pro ECN, Standard STP, or bridging forex trading in the MT5 platform.
- The quality of services offered
We test if brokers offer features like allows expert advisors, the usage of a VPS, add-ons like Smart Trader Tools, copy trading, and allows hedging.
Top MetaTrader 5 Brokers Compared
Assets, accounts, fees and trading tools of online broker with the ideal MT5 platforms integration options in UAE are compared in the table below.
|Broker||AVA Trade||IC Markets||Swissquote||FP Markets||XM|
|Swap free account||Yes||Yes||Yes||Yes||Yes|
|Std. Account Spread (in points)||From 6||From 6||From 14||From 10||From 10|
|ECN Account Commision||–||$3,00||–||$3,00||$3,50|
|Social Trading||Ava Social, DupliTrade, Mql5.com||IC Social, ZuluTrade, Myfxbook AutoTrade, Mql5.com||Myfxbook AutoTrade, Mql5.com||Myfxbook AutoTrade, Mql5.com||Mql5.com|
What is MetaTrader 5?
MetaTrader 5 is trading software released by MetaQuotes, founded in Russia but with headquarters in Cyprus. With MetaTrader 5 users can trade equities, commodities, CDF’s and forex. It features indicators and dynamic charting. The software uses the MQL5 language and allows traders to use expert advisors and deploy their own trading scripts.
What Is The Difference Between MetaTrader 5 and MetaTrader 4?
The differences between the two MetaTrader trading platforms are that MetaTrader 5 allows stocks, bonds, and options trading while MT4 only offers forex trading. MetaTrader 5 offers 6 different order types, 8 technical indicators, 13 graphical objects, and 12 extra timeframes that MetaTrader 4 doesn’t have. MetaTrader 5 has a built-in chat feature, an economic calendar, and users can transfer funds between accounts without having to log off.
Difference Between MetaTrader 5 and MetaTrader 4
|MetaTrader 5||MetaTrader 4|
|Market Coverage||Commodities, stocks, ETFs bonds, options, futures, currencies,||Different currencies|
|Order types||Market orders, 6 pending orders (buy limit, buy stop, sell limit, sell stop, buy stop limit, sell stop limit), stop-loss and take profit order||Market order, 4 pending orders (buy limit, buy stop, sell limit, sell stop), stop-loss and take profit orders|
|Charting Tools||22 timeframes from 30sec to 1 month||8 timeframes|
|Technical requirement||Max memory space||Less memory space required|
Advantages of Trading with MetaTrader 5
You can deploy expert advisors, use a VPS, backtest your strategies, and switch brokers in the platform.
There are a wide range of indicators and add-ons available for purchase or rent in the built-in MetaTrader MQL Market to enhance trading. Another important aspect of trading with MetaTrader 5 is that traders can deploy expert advisors and trading robots to trade the markets.
MetaTrader 5 has a built-in copy trading feature so that traders can copy the trades of other traders. With the MetaEditor, traders create their own trading algorithms APIs to only trade following set parameters. With a virtual private server (VPS) you can reduce latency and optimize order execution speeds.
Meta Trader 5: The Pros and Cons
Meta Trader 5 is a solid trading platform, but nothing is perfect. Let’s look at the pros and cons of Meta Trader 5 on a stand-alone basis.
- Major brokers support MT5
- Supports wide range of assets and markets
- Easy to begin trading
- Creating trading macros is simple
- Distributed architecture makes it secure
- Forced FIFO makes hedging difficult
- Aftermarket product offerings lacking
- Charting preferences aren’t intuitive
- Trader must configure asset layout
- New traders struggle with layout
Which Assets Can You Trade With MetaTrader 5?
With MetaTrader 5, you can trade equities, commodities, bonds, and forex.
How To Get Started With The Best MetaTrader 5 Broker
Now that you know all about the MetaTrader 5 trading platform and the different MT5 brokers it is time to get started. To get started with AvaTrade, the best overall MetaTrader 5 broker, follow these steps:
1. Open an AvaTrade Account
Navigate to the AvaTrade website and click the ‘Register’ button at the top of the screen. You will have to enter your personal details and complete a questionnaire about your trading experience.
2. Verify your Identity
AvaTrade will ask you to prove your identity. You do this by uploading a photo of your driver’s license, passport, or national ID card. In some cases, they will also ask you to upload a screenshot or photo of a recent utility bill or bank statement.
3. Fund your Account
You can fund your AvaTrade account with credit cards like Visa or MasterCard, e-wallets like PayPal, Neteller, or Skrill, or by regular bank wire transfer. The minimum deposit at AvaTrade is $100 or 400 AED.
4. Download MT5
Open the AvaTrade client portal area. From here you select MetaTrader 5 under the Trading Platform dropdown menu and follow the instructions to download the MT5 software.
Once you have downloaded MetaTrader 5 open it and log in with your AvaTrade account credentials. Your AvaTrade balance will be available within MT5 to trade the financial markets with. Click any asset you want to buy or browse the trading platform.
The variety of online brokers in UAE offering different MT5 integration options and features, makes it hard to find the ideal choice for traders preferences. Comparing and evaluating the services of different providers requires effort and knowledge.
This guide does the hassle by evaluating top brokers for different types of traders and trading goals. The results of our analysis and comparison of the best MT5 forex brokers in UAE are wrapped up in the table below.
|RANK||BROKER||PLATFORM SCORE||BEST FOR||WEBSITE|
|#1||AVAtrade||4,9/5||Forex and CFDs||Official website|
|#2||IC Markets||4,5/5||Active Traders||Official website|
|#4||FP Markets||4,3/5||Trading Fees||Official website|
Based on the findings from our review and comparison, we consider AVAtrade as the best MT5 broker in UAE. They offer access to the full MT5 platform suite for desktop and mobile with multiple ad-ons, great market coverage, and a competitive fee structure.
Is MetaTrader 5 better than MetaTrader 4?
MetaTrader 5 is the newer (upgraded) version of MetaTrader 4 offering faster trade execution speed and additional features including market depth. Many traders still prefer using MetaTrader 4 over MetaTrader 5.
How much does MetaTrader 5 costs?
MetaTrader 5 is free of charge and can can be downloaded at their official website. MT5 users may get charged by online brokers in the form of trading fees (spreads and commission), as well as additional fees for certain add-ons (EA’s, custom indicators).
Can I trade on MetaTrader 5 with every broker?
No, not every broker is compatible with MetaTrader 5. We recommend choosing an online broker from our list of recommended choices.
Are there brokers compatible with both MT4 and MT5?
Yes, there are brokers that offer access to MT4 and MT5 including our top-rated broker, AvaTrade.
Is it possible to trade on MetaTrader 5 with a demo account?
Users can trade with MetaTrader 5 on a demo account if the online brokers offer a demo account option.
Can I use auto trading systems with MetaTrader 5?
MetaTrader 5 supports automated trading through third parti integrations (DupliTrade and ZuluTrade) automated systems developed by other traders.
Is it possible to use MetaTrader 5 for copy trading?
Copy trading with MT5 is available through third-party plugins (DupliTrade, ZuluTrade) and their own proprietary copy trading feature.
Is MetaTrader 5 regulated in the UAE?
MetaTrader 5 is primarily a trading platforms and charting provider and is therefore not subject to regulation in UAE. Online brokers that offer access to MT5 are regulated by the SCA, DFSA and ADGM.
How does the MetaTrader 5 suite differs between brokers?
Online brokers offer different set of features and add-on for the MetaTrader 5 platform.
Is MetaTrader 5 safe?
MetaTrader 5 uses advanced encryption and security features which makes it a safe software. As the MT5 platform can only be used through online brokers, it is important to choose a well regulated broker to ensure the highest safety standards.
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Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
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