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Best MT5 Brokers for Beginners (2026)

New traders want strong regulation, a low minimum deposit and a free demo account. These MetaTrader 5 brokers tick those boxes, ranked by our overall score.

MSP Score /100:85+ Excellent70 to 84 Very good55 to 69 Fair<55 Caution
27 brokers, ranked
#1

IC Markets

Sydney, Australia · est. 2007 · MT4, MT5, cTrader, TradingView
MT5✓ MSP-ready~ Mixed reviewsCFD
EUR/USD0.1 pip
Min deposit$200
ExecutionECN/STP
Regulated byASIC, CySEC
90
Grade A
Review Visit ↗
#2

Pepperstone

Melbourne, Australia · est. 2010 · MT4, MT5, cTrader, TradingView
MT5✓ MSP-ready✓ Trusted reviewsCFDSpread Betting
EUR/USD0.1 pip
Min deposit$200
ExecutionNo dealing desk
Regulated byFCA, ASIC
88
Grade A
Review Visit ↗
#3

Dukascopy Bank

Geneva, Switzerland · est. 2004 · JForex, MT4, MT5
MT5✓ MSP-ready~ Mixed reviewsCFDDMA
EUR/USD0.3 pip
Min deposit$100
ExecutionECN-STP
Regulated byFINMA, Bank of Latvia
87
Grade A
Review Visit ↗
#4

GO Markets

Melbourne, Australia · est. 2006 · MT4, MT5, cTrader, TradingView
MT5✓ MSP-ready✓ Trusted reviewsCFD
EUR/USD0.1 pip
Min deposit$200
ExecutionECN/STP (GO Plus+ raw); Standard is market maker
Regulated byASIC, CySEC
86
Grade A
Review Visit ↗
#5

FP Markets

Sydney, Australia · est. 2005 · MT4, MT5, cTrader, TradingView
MT5✓ MSP-ready✓ Trusted reviewsCFDDMA
EUR/USD0.1 pip
Min deposit$100
ExecutionECN/STP
Regulated byASIC, CySEC
85
Grade A
Review Visit ↗
#6

FOREX.com

Warren, New Jersey, USA · est. 2001 · MT4, MT5, Advanced Trading platform, TradingView
MT5✓ MSP-ready✓ Trusted reviewsCFDSpread Betting
EUR/USD1.2 pip
Min deposit$100
ExecutionMarket maker
Regulated byNFA/CFTC, FCA
85
Grade A
Review Visit ↗
#7

Tickmill

London, United Kingdom · est. 2014 · MT4, MT5, TradingView, Tickmill Trader
MT5✓ MSP-ready~ Mixed reviewsCFDFutures
EUR/USD0.1 pip
Min deposit$100
ExecutionECN/STP
Regulated byFCA, CySEC
84
Grade B
Review Visit ↗
#8

ThinkMarkets

London, UK (co-HQ Melbourne, Australia) · est. 2010 · MT4, MT5, TradingView, ThinkTrader
MT5✓ MSP-ready~ Mixed reviewsCFDSpread Betting
EUR/USD0.1 pip
Min deposit$0
ExecutionNo dealing desk (STP/ECN)
Regulated byFCA, ASIC
83
Grade B
Review Visit ↗
#9

FxPro

London, United Kingdom · est. 2006 · MT4, MT5, cTrader, FxPro Edge
MT5✓ MSP-ready✓ Trusted reviewsCFDSpread Betting
EUR/USD0.2 pip
Min deposit$100
ExecutionNo dealing desk
Regulated byFCA, CySEC
81
Grade B
Review Visit ↗
#10

Fusion Markets

Melbourne, Australia · est. 2017 · MT4, MT5, cTrader, TradingView
MT5✓ MSP-ready~ Mixed reviewsCFDDMA
EUR/USD0.1 pip
Min deposit$0
ExecutionECN/STP
Regulated byASIC, VFSC
81
Grade B
Review Visit ↗
#11

OANDA

New York, USA · est. 1996 · OANDA Trade (fxTrade), MT4, MT5, TradingView
MT5✓ MSP-ready✓ Trusted reviewsCFD
EUR/USD0.9 pip
Min deposit$0
ExecutionNo dealing desk
Regulated byNFA/CFTC, FCA
79
Grade B
Review Visit ↗
#12

Vantage (Vantage Markets)

Sydney, Australia · est. 2009 · MT4, MT5, TradingView, Vantage App (proprietary)
MT5✓ MSP-ready~ Mixed reviewsCFDInvest / real shares
EUR/USD0 pip
Min deposit$50
ExecutionECN/STP
Regulated byASIC, FCA
79
Grade B
Review Visit ↗
#13

BlackBull Markets

Auckland, New Zealand · est. 2014 · MT4, MT5, cTrader, TradingView
MT5✓ MSP-ready~ Mixed reviewsCFDDMA
EUR/USD0.1 pip
Min deposit$0
ExecutionECN/STP
Regulated byFMA, FSA
79
Grade B
Review Visit ↗
#14

Admirals (Admiral Markets)

Tallinn, Estonia · est. 2001 · MT4, MT5, TradingView, Admirals Platform
MT5✓ MSP-ready✓ Trusted reviewsCFDSpread Betting
EUR/USD0.1 pip
Min deposit$100
ExecutionNo dealing desk
Regulated byFCA, CySEC
78
Grade B
Review Visit ↗
#15

Eightcap

Melbourne, Australia · est. 2009 · MT4, MT5, TradingView, TradeLocker
MT5✓ MSP-ready✓ Trusted reviewsCFD
EUR/USD0.1 pip
Min deposit$100
ExecutionNo dealing desk (STP)
Regulated byASIC, FCA
78
Grade B
Review Visit ↗
#16

Axi (formerly AxiTrader)

Sydney, Australia · est. 2007 · MT4, MT5, Axi Trading Platform (web/mobile, own), Axi Copy Trading app
MT5✓ MSP-ready✓ Trusted reviewsCFDSpread Betting
EUR/USD0 pip
Min deposit$0
ExecutionNo dealing desk (STP)
Regulated byFCA, ASIC
78
Grade B
Review Visit ↗
#17

TMGM (TradeMax Global Markets)

Sydney, Australia · est. 2013 · MT4, MT5, IRESS
MT5✓ MSP-ready✓ Trusted reviewsCFDDMA
EUR/USD0.1 pip
Min deposit$100
ExecutionECN/STP (some offshore entities operate on a principal/market-maker basis)
Regulated byASIC, FMA
78
Grade B
Review Visit ↗
#18

Blueberry Markets

Sydney, Australia · est. 2016 · MT4, MT5, cTrader, TradingView
MT5✓ MSP-ready✓ Trusted reviewsCFD
EUR/USD0.1 pip
Min deposit$100
ExecutionNo dealing desk / ECN-STP (institutional LPs)
Regulated byASIC, VFSC
78
Grade B
Review Visit ↗
#19

Exness

Limassol, Cyprus · est. 2008 · MT4, MT5, Exness Terminal (web), Exness Trade (app)
MT5✓ MSP-ready~ Mixed reviewsCFD
EUR/USD0.1 pip
Min deposit$10
ExecutionNo dealing desk
Regulated byFSA, FSCA
76
Grade B
Review Visit ↗
#20

AvaTrade

Dublin, Ireland · est. 2006 · MT4, MT5, AvaTradeGO, AvaOptions
MT5✓ MSP-ready~ Mixed reviewsCFDOptions
EUR/USD0.9 pip
Min deposit$100
ExecutionMarket maker (fixed spreads)
Regulated byCentral Bank of Ireland, ASIC
75
Grade B
Review Visit ↗
#21

easyMarkets

Limassol, Cyprus · est. 2001 · MT4, MT5, TradingView, easyMarkets platform
MT5✓ MSP-ready✓ Trusted reviewsCFDOptions
EUR/USD0.8 pip
Min deposit$25
ExecutionMarket maker
Regulated byCySEC, ASIC
75
Grade B
Review Visit ↗
#22

Markets.com

Limassol, Cyprus · est. 2008 · MT4, MT5, Markets.com Web Platform
MT5✓ MSP-ready~ Mixed reviewsCFD
EUR/USD0.6 pip
Min deposit$100
ExecutionMarket maker
Regulated byCySEC, FSCA
74
Grade B
Review Visit ↗
#23

Global Prime

Melbourne, Australia · est. 2010 · MT4, MT5
MT5✓ MSP-ready✓ Trusted reviewsCFDDMA
EUR/USD0.1 pip
Min deposit$0
ExecutionECN/STP
Regulated byASIC, VFSC
72
Grade B
Review Visit ↗
#25

XM (XM Group / Trading Point)

Limassol, Cyprus · est. 2009 · MT4, MT5, XM WebTrader, XM App
MT5✓ MSP-ready~ Mixed reviewsCFDInvest / real shares
EUR/USD0.1 pip
Min deposit$5
ExecutionMarket maker
Regulated byCySEC, ASIC
67
Grade C
Review Visit ↗
#26

FBS

Belize City, Belize · est. 2009 · MT4, MT5, FBS Trader app
MT5✓ MSP-ready~ Mixed reviewsCFD
EUR/USD0.1 pip
Min deposit$5
ExecutionMarket maker
Regulated byFSC, CySEC
67
Grade C
Review Visit ↗
#27

Octa (formerly OctaFX)

Kingstown, Saint Vincent and the Grenadines · est. 2011 · MT4, MT5, OctaTrader
MT5✓ MSP-ready⚠ Review cautionCFD
EUR/USD0.6 pip
Min deposit$25
ExecutionMarket maker
Regulated byCySEC, MISA
57
Grade C
Review Visit ↗
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Frequently asked questions

What are the best MT5 Brokers for Beginners?

Our current top picks are IC Markets, Pepperstone, Dukascopy Bank. New traders want strong regulation, a low minimum deposit and a free demo account. These MetaTrader 5 brokers tick those boxes, ranked by our overall score. Rankings are based on our scoring of regulation, costs, platform, execution, instruments and support.

How is this list ranked?

Every broker is scored out of 100 across regulation and safety, costs and spreads, platform fit, execution, instruments and funding, and support. Figures are typical and change, so always confirm current terms on the broker's own site.

Do these brokers work with Market Structure Pro?

Yes. Every broker on this page offers MetaTrader 5, and Market Structure Pro is an MT5 indicator, so it runs on any of their MT5 accounts.