Apparently no US Brokers offer MetaTrader 5 currently and some like Forex.com and OANDA do offer it but to clients in other countries. I thought the major hurdle for MT5 adoption was increased licensing fees? So US Clients aren’t worth the MT5 licensing fees? Or has MT5 not passed some sort of regulatory hurdle?
I dont even think that’s a problem… are you sure you tried other brokers?
You must not be in the U.S. I had another broker just confirm, no U.S. Brokers currently support MT5. Pretty crazy. You have to go with an Offshore Broker and due to CFTC crackdown in recent years there’s not a lot of ones left that are reputable that accept US Clients.
True. So if you want to use MT5, then you need to find a broker that is not in US. You can also try offshore brokers. With rising competition, we have some really good offshore brokers in the market. You can check out
to learn more about these brokers. Turnkey Forex is one of the brokers offering MT5 to US Clients on its trading platform.
IC Markets have mt5
IC Markets does not accept U.S. Cients. Many Investors in other countries just don’t realize how heavily the U.S. is regulated. It used to be they accepted U.S. Clients more freely but apparently in recent years the CFTC went after these brokers and they stopped accepting U.S. Clients. So some brokers that have the means, like Binance, have jumped through the hoops to meet CFTC regulations. However you can’t trade future, you can’t trade crypto on margin, cannot trade CFDs, cannot short sell. Only buy buy buy at 1:1 margin.
I’ve been using a Coinexx demo account and I am impressed with their level of customer service. I think if I end up going offshore I would probably go with them.
The good offshore brokers I know (turnkey, CedarFX, EagleFX) are mt4 only.
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Yeah, I forgot to mention Coinexx. They too offer MT5 trading platform.
Turnkey Forex offers MT4, MT5 and Act Trader platform.
Cedarfx offer MT4 platform only.
Eaglefx offers MT4 platform only.
I never knew the restrictions in the US were so harsh, how does the platform you trade on make a difference to them?
How come you want to use MT5? Best sticking to MT4 tbh.
I think in time MT4 will be phased out in favour of MT5 but until then I am happy enough with MT4. Does the job well enough.
I prefer MT5 too because it provides me the option of Buy-Top Limit and Sell-Stop Limit as well as Market Depth which are not there in MT4.
They also have web traders(not turnkey).
Yes I think most people will be using offshore brokers soon.
This is why MT5 and Ctrader Platforms aren’t allowed to be used in the US and a lot of other jurisdictions.
Most traders (especially in Babypips) are totally unaware of MetaTrader’s Platform VirtualDealer “backend” which allows unscrupulous brokers to alter position open and closes, spreads, price feeds, slippage and many other parameters at their convenience…
$USD2000 Plugin for MT4 that MetaTrader and a few affiliates supply… You can see for yourself below
https://ittrendex.com/en/prices/item/109/
So many in these Markets just have no idea what they are dealing with…
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It will be something to do with CFD’s and the way the platforms operate, possibly outside of the Dodd Frank Act regulation, under some strange accounting regulation even hedging is banned in the US!
Giving a helping hand to Wall Street, the Financial Institutions effectively draft most of the regulations (including retail CFD’s) by ensuring ex Goldman or JP Morgan executives are selected by the Government to oversee The Treasury, Federal Reserve and have a large presence in Congress…
Where do you think their long term loyalties would lie?? What could possibly go wrong!!
Aussie adage… “Always back a Horse named Self-Interest… You can be sure it’s the only one really trying”
Sorry, a lot of reading in these posts that, unfortunately very, very few will bother to read…
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Is turnkey really good? What are the trading conditions that they provide?
Yes, all of them offer web traders including Turnkey.
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I have been trading with Turnkey Forex for some time now, and can vouch for the broker. It is one of the reputable offshore broker for US clients. But I feel you should not only go with what we tell you here. You should open a small account with Turnkey Forex and see for yourself their trade execution, slippages as well as spreads and share your experience with us here.