UK Brokers - Metatrader 5 MT5

Broker Discussion Forex Brokers
1

Hi,

I’m currently using IG but it doesn’t appear to work with MT5.

Any recommendations for a Uk broker that allows MT5?

Thanks.

2

You could use Pepperstone, who has a branch in London, as I do.

3

What’s your experience of Pepperstone been? Good? Any issues?

4

I have no issues with pepperstone. Deposits and withdrawals take about two days while IC Markets deposits hit my account in minutes. That is remarkable.

5

It seems both IC and Pepperstone accept MT5.

Have you found any advantages / disadvantages between them? Costs? Spreads?

Pepperstone appears to be covered by the FSCS compensation scheme, IC its unclear?

Thanks.

6

Costs and spreads are similar. Both have standard and razor accounts.

ICM is the largest broker on the globe so definately tier 1 FCA covered in uk and europe. BUT leverage of 30:1.

Hope that helps. You could also use either or both of their chat line when markets open.

7

IC Markets is not regulated by the FCA, unless it did so very recently. It is regulated in Cyprus for european customers, you can no longer join it under ASIC. This was why I switched to Pepperstone which is FCA regulated, although IC Markets is massive and trusted, so probably not a real problem.

They both do MT5 accounts. Pepperstone does spread betting accounts which don’t require tax on profits, so a good choice. It basically is the same as a CFD account but has no commission and a slightly larger spread to account for it. My calculations were that the difference in cost is negligible between the 2 types of account.

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8

Thanks guys, I opened an MT5 SB account with Pepperstone. I got caught out years ago when Worldpreads went bust so the FCA protection is important for me.

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