Which brokers let you run AI trading bots on MT5 or cTrader?
Verdict
- Pepperstone, our pick, lets you run bots on both MT5 (expert advisors) and cTrader (cBots through cTrader Automate), and both platforms come with its Standard and Razor accounts in Australia.
- IC Markets, FP Markets and Fusion Markets, all ASIC-licensed, also list MT5 and cTrader; Capital.com, Vantage, OANDA and IG list MT5 but not cTrader.
- Pepperstone's Razor commission is USD 3.00 per side on cTrader and USD 3.50 on MT5; Fusion Markets publishes $2.25 per side on its Zero account.
- An 'AI bot' must be packaged as an MQL5 expert advisor or a C# cBot to run on these platforms.
MT5 and cTrader are the two main homes for automated strategies, whatever model sits behind them. Several ASIC-licensed brokers offer one or both. We put Pepperstone first because both platforms come with both of its accounts and its Razor pricing is published as an average, not a best case.
Pepperstone: MT5 and cTrader on every account
On MT5, a bot runs as an expert advisor; on cTrader, as a cBot written in C# and run through cTrader Automate. Pepperstone permits both, and offers a free VPS to eligible and Pro clients so they can run around the clock. Razor costs on EUR/USD come to about $7 per round-turn lot on cTrader and $8 on MT5 in a USD account, using the 0.1-pip published average. Standard costs about $11 per lot with no commission, which suits a bot that trades rarely and values simple accounting.
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ASIC-licensed brokers with MT5, cTrader or both
Fusion Markets' commission is the lowest in the table, but it publishes no EUR/USD-specific spread, so a total per-lot cost cannot be compared like for like.
| Broker | ASIC licence | MT5 | cTrader | Raw-account FX commission |
|---|---|---|---|---|
| Pepperstone | AFSL 414530 | Yes | Yes | USD 3.50/side MT5; USD 3.00/side cTrader |
| IC Markets | AFSL 335692 | Yes | Yes | $3.50/side |
| FP Markets | AFSL 286354 | Yes | Yes | US$3/side |
| Fusion Markets | AFSL 385620 | Yes | Yes | $2.25/side (Zero) |
| Capital.com | AFSL 513393 | Yes, EAs permitted | Not listed | No EUR/USD figure in our data |
| Vantage | AFSL 428901 | Yes | Not listed | $3/side (Raw ECN) |
| OANDA | AFSL 412981 | Yes | Not listed | Not published for Australia in our data |
MT5 or cTrader for a bot?
- Language: MT5 uses MQL5; cTrader Automate uses C#, which many developers and AI coding tools already handle well.
- Cost at Pepperstone: cTrader's FX commission is 50 cents per side cheaper than MT5's.
- Add-ons: Pepperstone's Smart Trader Tools work with MT5, not cTrader.
- Products: Pepperstone lists its perpetual CFDs on both MT5 and cTrader.
Before you switch the bot on
- Test the bot on history in the platform's own tester.
- Run it live at the smallest size for long enough to see it trade in quiet and busy markets.
- Check its leverage use against ASIC's retail caps: 1:30 on major FX, 1:20 on gold and major indices.
- Decide in advance the loss at which you will stop it.
Sources
Terms as each broker publishes them on its own site.
Does Capital.com support cTrader bots?
No. Capital.com does not list cTrader; it permits expert advisors on MT4 and MT5.
Can I run the same bot on MT5 and cTrader?
Not without rewriting it: MT5 bots are MQL5 programs and cTrader bots are C# programs.
Is there an extra fee for running bots at Pepperstone?
No separate fee appears in its published costs; a bot pays the platform's normal spread and commission.
Running a bot on leveraged CFDs carries a high risk of losing money rapidly, and software faults can add to losses. Read the PDS and TMD and test at minimum size. Costs and platform lists are broker-published. Not investment advice.