konversi_timezone(26 May 2022 5:14, America/New_York, 'full date') MT5 Brokers with Low Spread to Try
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MT5 Brokers with Low Spread to Try



May 26, 2022  
There are a number of brokers combining the advantages of low spread and MT5 accounts nowadays. But which one is the best for you?

If you ask which trading platform has the biggest fandom in the trading industry, it's probably MetaTrader. The reason is that MetaTrader allows you to switch quickly between accounts and windows, making it easier to place orders in the markets. This software has two variations: the MT4 (MetaTrader 4) and MT5 (MetaTrader 5).

While there are plenty of MT4 brokers with low spreads, few brokers provide low-spread on their MT5 platforms. Such a shame considering low spreads contribute to cost-effectiveness, improved profitability, enhanced liquidity, and greater opportunities for various trading strategies, making them advantageous for traders in the financial markets.

These brokers are some examples of great low-spread MT5 providers:

  1. IC Markets: Offering 0.0 pips on their MT5 account.
  2. Admirals: This MT5 broker lets you enjoy a spread as low as 0 pips.
  3. FP Markets: Enjoy spreads from 0.0 pips on their MT5 platform.
  4. HF Markets: TProvides 0 pips spread from the get-go.
  5. Pepperstone: Spread as low as 0 pip spreads available on their MT5 platform.

Let's learn the details below.

 

IC Markets

IC Markets is easily among the top choices when it comes to low spread MT5 providers. This broker offers spreads as low as 0.0 pips on their Raw Spread account to ensure you get the best trading experience. IC Markets is a no-dealing desk broker, so there will be no price requotes or any manipulation on their market-leading platforms.

Because of that, their MT5 accounts are suitable for high-volume traders, scalpers, and automated traders who demand some of the best trading conditions. But what exactly makes IC Markets one of the best MT5 brokers is the execution speed that is supported by less than 1 millisecond latency.

 

Admirals

Admirals is a multi-licensed broker that allows access to hundreds of stocks and stock CFDs from various exchanges around the world. This broker applies no commission fees for those products.

They offer a Zero.MT5 account, another name for a low-spread MT5 account that lets you enjoy spread as low as 0 pips. However, for this account type, you will be charged commissions from USD1.8 to USD3.0 per 1.0 for forex and metals, USD0.05 to USD3.0 per 1.0 for cash indices, and USD1 per 1.0 for energies.

 

FP Markets

FP Markets is another brokerage with a raw spread MT5 account. Here, you can enjoy spreads from 0.0 pips on their Raw Account and leverage up to 500:1. This account is also available for low-spread gold trading. Besides an amazing spread, there is the depth of the market display and technical indicators that you can take advantage of.

You can also make use of 6 pending stop order types, including Buy Stop Limit and Sell Stop Limit. Busy traders don't have to worry about missing opportunities as FP Markets also provides the platform with e-mail alerts and push notifications on mobile devices.

 

HFM

The HF Markets low spread MT5 account is a wonderful choice to consider. This account type provides you with 0 pips spread on the Zero Account. Of course, you can get access to tons of financial products including but not limited to forex, metals, energies, indices, and many more.

The minimum opening deposit for the low spread MT5 account is $200, which is considered pretty affordable. However, you will be charged a commission fee of $0.06 per round turn.

 

Pepperstone

span class="pepperstone-home">Pepperstone is one of the best brokers that is known for its razor spread. As the condition is available in their MT5 platform, this leads to Razor Spread MT5 account where you can enjoy spread as low as 0 pip spreads.

They can provide such benefit because span class="pepperstone-home">Pepperstone uses multiple liquidity providers from Tier 1 Banks and institutions to give you competitive quotes with low spreads and deep liquidity. The commission fees are different according to what asset you trade. Thus, ensure you find out about this on their official website before trading.

 

Benefits of Using MetaTrader 5

While some traders might lean towards the popular MT4, others might be more comfortable using MT5. First of all, it is an updated and improved version of its predecessor which has long been the industry standard for traders around the world.

Another reason is that while forex traders primarily use the MT4 account, MT5 is considered a multi-asset platform. Aside from that, MetaTrader 5 has two market orders, six pending orders, plus two stop orders, whilst MT4 offers "only" two market orders and four pending orders.

Furthermore, MetaTrader 5 has a user-friendly interface that makes it easy to use even if you don't have much experience with a trading platform. The following are other notable benefits you can experience with MT5:

 

Technical Analysis

MT5 trading platform has more than 100 price charts available with 21-time frames, ranging from one minute to one month. This makes MT5 suitable for analyzing both short-term and long-term price trends.

In addition, MetaTrader 5 is equipped with 38 built-in technical indicators, including but not limited to EMAs, MACD-2 lines, volume profiles, pivot points, renko, zigzag, b-clock, and many more. Custom indicators are also available from CodeBase and the MQL5 market.

 

Tools

MetaTrader 5 also has a bunch of useful tools to help you get the best possible trading conditions. For starters, MT5 offers real-time international news streams and an economic calendar. Aside from that, the software has a Depth of Market feature that helps you see the market's liquidity. It is also equipped with one-click trading and a vast library of historical market information. It also allows separate accounting of orders and trades, including Netting and Hedging.

 

Customization

If you love customizations, you will love MT5 as the web terminal was designed with personalization in mind. It enables integration so users can run custom indicators to analyze price data. The scripts can perform almost any function on the platform, such as adding indicators to a chart or closing all pending orders. On top of that, the libraries are full of a portfolio of tasks that share segments of popular custom applications on the platform.

 

Expert Advisors

If automated trading is your style, MT5 might be a great choice for you since it is highly compatible with Expert Advisors (EAs) that are capable of automatically executing trades on your behalf. In contrast with the MT4, EAs run on the MT5 platform use the MQL5 programming language. Experienced traders can also benefit from supporting tools like MetaEditor and Strategy Tester.

 

Mobile Trading App

Nowadays, traders tend to conduct their activities on mobile. If you are one of these traders, consider yourself lucky because MT5 mobile apps are one of the best in their class. Through its apps, you will access a complete set of trading orders, including pending orders and level 2 prices. Switching between financial instruments on charts is also possible in a very short time. Aside from that, you can enjoy free financial news, push notifications, 30 technical indicators, and 24 analytical tools.

 

MetaTrader is not the only trading platform that is equipped with raw spread. Some broker also offers low spread on cTrader. Which broker has the best spread for the cTrader trading platform?