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Best Prop Firms for MetaTrader 5 (MT5)
MetaTrader 5 (MT5) is the 64-bit, multi-threaded successor to MT4, designed to bring institutional-grade execution and multi-asset trading to the retail sector. While MT4 was built exclusively for decentralized forex markets, MT5 was engineered from the ground up to connect directly to centralized exchanges, allowing seamless trading of stocks, commodities, and cryptocurrencies alongside traditional FX pairs. For proprietary traders, MT5 offers a massive technological leap forward. It features 21 distinct timeframes (perfect for precise top-down analysis), an integrated economic calendar, Depth of Market (Level 2 data) for order flow scalpers, and a vastly superior strategy tester that supports multi-threaded backtesting with real tick data. Despite the recent MetaQuotes licensing turbulence affecting US prop firms, MT5 remains heavily favored by professional algorithmic traders developing complex MQL5 trading robots and those trading broad asset classes beyond just currencies.
Faster Execution
MT5 is a 64-bit multi-threaded application, making it significantly faster than the 32-bit MT4.
More Timeframes
Offers 21 timeframes compared to MT4's 9, great for precise top-down analysis.
Advanced Backtesting
The MT5 strategy tester supports multi-currency testing and real tick data.
DOM Included
Features built-in Depth of Market (Level 2 data) for order flow traders.
Find Your Perfect Firm24 Results
| # | Firm | Rating | Actions |
|---|---|---|---|
1 | FTMO 19/10% off | 4.8 | |
2 | 4.6 | ||
3 | 4.8 | ||
4 | 4.8 | ||
5 | 4.2 | ||
6 | 4.4 | ||
7 | 4.5 | ||
8 | 4.7 | ||
9 | 4.8 | ||
10 | 4.6 | ||
11 | 4.5 | ||
12 | 4.5 | ||
13 | 4.3 | ||
14 | 4.3 | ||
15 | 4.4 | ||
16 | 4.5 | ||
17 | 4.8 | ||
18 | 4.4 | ||
19 | 4.5 | ||
20 | 4.6 | ||
21 | 4.5 | ||
22 | 4.3 | ||
23 | 4.4 | ||
24 | 4.6 |
Frequently Asked Questions
Is MT5 better than MT4?
Technologically, yes. It is faster, supports more assets (stocks/crypto), and has better backtesting. However, many traders stick to MT4 because their existing EAs are written in MQL4.
Are prop firms also losing MT5?
Yes, the MetaQuotes licensing crackdown affects both MT4 and MT5, causing a massive shift toward cTrader, DXtrade, and TradeLocker.
Does MT5 support Level 2 data?
Yes, MT5 includes a native Depth of Market (DOM) feature, allowing order flow traders to see market liquidity and pending orders, which was impossible on standard MT4.
Can I trade crypto on MT5?
Absolutely. Unlike MT4, MT5 was specifically designed to route orders to centralized exchanges, making it the perfect platform for brokers offering crypto, futures, and stock CFDs alongside forex.