Which mobile trading app is best for MetaTrader users?
Verdict
- For MetaTrader users in the UK, our pick is the MT4 or MT5 app connected to a Pepperstone account: MT5 runs on every Pepperstone UK account and MT4 on spread betting and Razor, with Razor averaging 0.1 pips on EUR/USD plus commission.
- The app is MetaQuotes' software and behaves the same at every broker; what changes is the account behind it: costs, spread betting and client protection.
- Pepperstone lists MT4 and MT5 for its UK spread betting account, so you can place pound-per-point bets from the MetaTrader app.
- Capital.com, IG and CMC Markets also connect to MetaTrader (CMC to MT4 only in our data); Spreadex and Plus500 do not.
If you already know MetaTrader, the question is not which app to learn but which broker to plug into it. The MT4 and MT5 mobile apps are the same wherever you download them; the account decides what you pay and what you can trade. Here is how UK brokers compare.
Pepperstone behind the MetaTrader app
Install MT4 or MT5, choose Pepperstone's server, log in, and the app trades your Pepperstone account. Pepperstone offers MT5 on all three UK account types and MT4 on spread betting and Razor, so the same app family can trade raw spreads with commission, commission-free Standard pricing or spread bets in pounds per point. Two Razor costs to know: MT5 charges $3.50 per lot per side, and MT4 charges $7 per lot when the position opens.
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MT4 or MT5 on your phone?
- Choose MT5 if you are starting fresh: it is the only MetaTrader version on all three Pepperstone UK accounts, including Standard.
- Stay on MT4 if your indicators and expert advisors are written for it; Pepperstone keeps MT4 on Razor and spread betting.
- Expert advisors do not run in the phone app; they need the desktop terminal or a VPS, and Pepperstone offers a free VPS to eligible and Pro clients.
- Cost is identical either way on Razor: $7 per round-trip lot, whether charged $3.50 a side on MT5 or $7 on opening on MT4.
UK brokers that connect to MetaTrader
Capital.com is our second choice for MetaTrader users: it pairs MT4 and MT5 with guaranteed stops, which Pepperstone does not offer.
| Broker | MT4 | MT5 | UK spread betting | Worth knowing |
|---|---|---|---|---|
| Pepperstone | Spread betting and Razor | All accounts | Yes | Razor EUR/USD 0.1 pips average + commission; £10 minimum |
| Capital.com | Yes | Yes | Yes | Guaranteed stops; minimum deposit 20 in GBP, EUR or USD |
| IG | Yes | Yes | Yes | Also ProRealTime and L2 Dealer; guaranteed stops |
| CMC Markets | Yes | Not listed | Yes | Own Next Generation platform; guaranteed stops |
| Spreadex | No | No | Yes | Own platform and TradingView |
| Plus500 | No | No | Not found | Own web platform and app only |
Before you connect the app
- Pick the account type first: Razor for raw spreads with commission, Standard for no commission, spread betting for pound-per-point stakes.
- Choose MT4 or MT5 when you open the account, because the login is issued for one platform.
- Note the server name and login Pepperstone gives you and enter them in the app.
- Set the base currency to match your bank (GBP, USD, EUR or CHF at Pepperstone UK) so deposits are not converted.
Sources
Platform and account terms as each broker publishes them.
Is the MetaTrader app free?
The MT4 and MT5 apps are free to download; you pay the broker's trading costs. At Pepperstone that is the spread, plus commission on Razor accounts.
Can I spread bet on MT5 with Pepperstone?
Yes. Pepperstone lists MT5 and MT4 for its UK spread betting account, together with cTrader, TradingView and its own platform. Stakes are in pounds per point and there is no commission.
Do I also need the Pepperstone app?
No. MetaTrader handles trading on its own. Pepperstone's app is an alternative platform if you would rather not use MetaTrader on your phone.
CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. Consider whether you understand how they work and whether you can afford to take that risk. This page is not investment advice; check current terms on each broker's site.