Which broker is best for MetaTrader 5 in the UK?
Verdict
- Pepperstone is our pick for MetaTrader 5 in the UK because MT5 is the one platform it offers on all three UK accounts — spread betting, Standard and Razor — under FCA regulation.
- A standard lot of EUR/USD round trip on MT5 costs about $8 on Razor (0.1 pips published average plus $7 commission) or about $11 on Standard, using Pepperstone's published averages.
- Capital.com, IG, ActivTrades, Tickmill, FxPro, OANDA and HFM also list MT5 and hold FCA-regulated UK companies.
- CMC Markets lists MT4 but not MT5, and FOREX.com's UK site lists MT4 only.
MT5 is the newer of the two MetaTrader terminals. Pepperstone is our pick because it puts MT5 on every UK account, so you can choose pricing without giving up the platform. Below are the costs and the other FCA brokers offering it.
Pepperstone MT5: every account, one login
At Pepperstone Limited (FCA 684312) MT5 comes with the spread-betting account, the commission-free Standard account and the Razor raw-spread account. That flexibility is the main point in its favour: a trader who starts on Standard can move to Razor later without changing platform, or hold a spread-betting account on MT5 alongside a CFD account. Pepperstone's Smart Trader Tools work on MT5 too, and the free VPS for eligible and professional clients keeps expert advisors running.
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MT5 cost by Pepperstone account
One standard lot (100,000 units) of EUR/USD, opened and closed in a USD account, at $10 per pip, using Pepperstone's published averages:
| Account | Spread | Commission | Total |
|---|---|---|---|
| Razor | 0.1 pips = $1 | $3.50 × 2 = $7 | About $8 |
| Standard | 1.1 pips = $11 | None | About $11 |
| Spread betting | Min 0.5 (published minimum) | None | Depends on stake per point |
FCA-regulated brokers that list MT5
- Capital.com (FCA 793714): MT5 plus MT4, TradingView and its own platform; 20 GBP minimum; guaranteed stops.
- IG (FCA 195355): MT5 alongside MT4, ProRealTime, L2 Dealer and TradingView.
- ActivTrades (FCA 434413): MT5, ActivTrader and TradingView.
- Tickmill (FCA 717270), FxPro (FCA 509956), OANDA (FCA 542574) and HFM (FCA 801701): MT5 on their published platform lists — confirm the UK company offers it for your account.
- Not listed: CMC Markets (MT4 only), FOREX.com UK (MT4 on the UK site; MT5 only on its global site), Spreadex, Plus500, Saxo and Trading 212.
Why not just pick the cheapest MT5 broker?
Published 'from' spreads are minimums, and Pepperstone's 0.1 and 1.1 are averages, so headline numbers across brokers rarely compare like for like. For a UK trader, three things outweigh a fraction of a pip: an FCA-regulated company holding the account, FSCS cover (up to £85,000 for eligible Pepperstone clients), and negative balance protection on retail balances. Pepperstone offers all three. Its weak spot is the lack of a guaranteed stop-loss; if you need one on MT5, Capital.com is the alternative.
Sources
Taken from broker-published pages.
Is MT5 available on Pepperstone's Standard account in the UK?
Yes. MT5 is the platform Pepperstone offers on all three UK account types: spread betting, Standard and Razor.
What is Pepperstone's MT5 commission?
$3.50 per lot per side on Razor in a USD account, or from £2.25 per side in a GBP account. Standard and spread-betting accounts pay no commission except Standard's charge on share CFDs.
Does CMC Markets offer MT5 in the UK?
CMC's published platform list includes MT4 but not MT5.
Trading CFDs or spread bets on margin can lose you money fast, and most retail accounts do: Pepperstone reports that 73.6% of its retail investor accounts lose money on these products. Tax treatment depends on your circumstances. This is not investment or tax advice.