Can I trade on MT5 from my phone with an Australian broker?
Verdict
- Yes: Pepperstone, our pick, offers MT5 on both its Australian accounts, so you can trade from the MetaTrader 5 phone app with an ASIC-licensed company (AFSL 414530).
- On an AUD Razor account, MT5 commission is AUD 3.50 per side on FX and AUD 4.50 per side on gold; Standard has no commission and a 1.1-pip EUR/USD average.
- Capital.com (AFSL 513393), IC Markets, FP Markets, Vantage, OANDA and Fusion Markets also list MT5.
- The phone app trades and manages positions; expert advisors need MT5 running on a computer or a VPS.
You can. Several ASIC-licensed brokers offer MetaTrader 5, and the MT5 mobile app connects to their servers like the desktop terminal does. We recommend Pepperstone because MT5 comes with both of its account types and its published costs are low. Here is how it works and what it costs.
MT5 on Pepperstone's Australian accounts
Pepperstone lists MT5 for both Standard and Razor in Australia, unlike MT4 and TradingView, which are Razor-only. On Razor, the published EUR/USD average is 0.1 pips, with commission of AUD 3.50 per side on MT5 for an AUD account (USD 3.50 for a USD account). On Standard, the average is 1.1 pips with no commission. Pepperstone lists its perpetual CFDs for MT5 but not for MT4, and Pepperstone's Smart Trader Tools add-ons work with MT5 on desktop.
Affiliate link — we may earn a commission at no extra cost to you.
Getting MT5 working on your phone
- Open a Pepperstone account and choose MT5 as the platform when you create the trading account.
- Install the MetaTrader 5 app from your phone's app store.
- Add an account in the app, search for Pepperstone, and pick the server named in your account details.
- Log in with your MT5 account number and trading password.
- Set a default volume and add a stop-loss before your first trade.
ASIC-licensed brokers that list MT5
Capital.com is our second choice for MT5 traders who want guaranteed stops or Capital.com's own app as well. CMC Markets lists MT4 but not MT5 in our data, and eToro and Plus500 do not offer MetaTrader.
| Broker | ASIC licence | MT5 | Published FX pricing |
|---|---|---|---|
| Pepperstone | AFSL 414530 | Standard and Razor | Razor 0.1 pips avg + AUD 3.50/side; Standard 1.1 pips avg |
| Capital.com | AFSL 513393 | Listed | No EUR/USD figure published in our data |
| IC Markets | AFSL 335692 | Listed | Raw 0.01 pips avg + $3.50/side |
| FP Markets | AFSL 286354 | Listed | Raw 0.11 pips avg + US$3/side; Standard 1.21 avg |
| Vantage | AFSL 428901 | Listed | Raw from 0.0 + $3/side; Standard from 1.4 |
| OANDA | AFSL 412981 | Listed | Not published for its Australian account in our data |
What the MT5 phone app cannot do
- Run expert advisors: Pepperstone supports EAs on MT4 and MT5, but they run in the desktop terminal or on a VPS, which Pepperstone offers free to eligible and Pro clients.
- Use Smart Trader Tools such as Trade Terminal or Correlation Matrix, which are desktop add-ons.
- Handle deposits and withdrawals; use Pepperstone's own app or client area for those.
Sources
Terms as each broker publishes them on its own site.
Is MT5 available on Pepperstone's Standard account in Australia?
Yes. Pepperstone's Australian Standard account runs on its own platform and app, MT5 and cTrader.
How much does Pepperstone charge on MT5?
On Razor, AUD 3.50 per side per lot on FX and AUD 4.50 per side on XAU/USD for an AUD account; Standard carries no commission.
Can I run my expert advisor from the MT5 phone app?
No. EAs run in the desktop terminal or on a VPS; the phone app lets you watch and manage the trades they open.
Trading CFDs and margin FX on MT5 involves leverage and a high risk of rapid losses, whether from a phone or a computer. Read the PDS and TMD first. Costs and platform lists are as published by each broker. This is not investment advice.