Are you wondering whether FXCM supports MetaTrader 5 (MT5)? Many traders are asking the same question. FXCM is known for its spread-based pricing on standard accounts, which makes it a popular choice among forex and CFD (contract for difference) traders. When it comes to MT5, though, the answer is no.
In this article, we look at whether you can use MT5 with your FXCM account. If it is not possible, we cover the best alternatives that do support it. We also compare MetaTrader 4 (MT4) and MetaTrader 5 (MT5) to help you identify which platform best suits your trading needs.
Does FXCM support MetaTrader 5 (MT5)?
No, FXCM doesn’t offer MetaTrader 5 (MT5). When we checked in October 2026, its help centre stated that “FXCM does not offer trading on the MetaTrader 5 platform”. Instead, FXCM has developed its Trading Station platform, designed for traders seeking a customizable and reliable experience. With features like advanced charting, automated strategies, and tools like real market volume data and sentiment indicators, it’s ideal for those trading Forex and CFDs on stocks, indices, and commodities.
Below is FXCM’s official clarification on this question:
If you prefer a MetaTrader platform, you can still use MetaTrader 4 (MT4) with FXCM, on desktop or in the browser. FXCM also offers TradingView Pro and API trading for automated strategies. You can visit their platform comparison to see which option aligns best with your strategy.
FXCM is not alone in this approach. Several established brokers have chosen to build and maintain their own proprietary platforms rather than integrate MetaTrader, on the basis that in-house software gives them more control over execution, pricing data, and the feature roadmap. XTB is another example, offering its own xStation platform instead of MetaTrader 5.
Best alternatives to FXCM that support MT5
74-89% of retail CFD accounts lose money.
74-89% of retail CFD accounts lose money.
75.04% of retail CFD accounts lose money.
74-89% of retail CFD accounts lose money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What is MetaTrader 5?
MT5 offers advanced trading tools such as customizable charts, multiple order types, and in-depth market analysis, making it suitable for both manual and automated trading strategies.
Additionally, MT5 includes features like real-time market news, an economic calendar, and built-in algorithmic trading support through its programming language, MQL5, allowing users to automate their strategies and make informed trading decisions.
MT5 Pros and Cons
Pros
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Built-in economic calendar
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38 built-in technical indicators and 44 graphical objects
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21 different timeframes
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Up to 100 charts open at the same time
- MQL5 language to build or add trading algorithms
Cons
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Some features may appear too advanced for beginners
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The MT5 platform is more complex than the MT4 platform
- Programs developed for MT4 will not operate on MT5
MT4 vs MT5: what are the key differences?
Comparing the two platforms, here are the main differences between MT4 and MT5:
| Feature | MT4 | MT5 |
| Launch year | 2005 | 2010 |
| Market types | Primarily forex and CFDs (decentralised markets) | Multi-asset: forex, stocks, futures, and commodities (including centralised exchanges) |
| Programming language | MQL4 | MQL5 (more powerful, but not backwards compatible) |
| User experience | Simple and user-friendly | Similar layout to MT4, but more customisable and feature-rich |
| System efficiency and speed | 32-bit, single-threaded | 64-bit, multi-threaded (faster processing and backtesting) |
| Trade execution methods | Hedging only | Hedging and netting |
| Order types | 4 pending order types (buy/sell limit, buy/sell stop) | 6 pending order types (adds buy stop limit and sell stop limit) |
| Expert Advisors (EA) support | Yes, with an extensive library of legacy MQL4 EAs | Yes, via MQL5 (MT4 EAs must be re-coded to run on MT5) |
| Strategy backtesting | Single-threaded, single-currency | Multi-threaded, multi-currency, with distributed cloud testing |
| Technical analysis tools | Comprehensive, but focused on the essentials | Extended set of tools for more advanced analysis |
| Available timeframes | 9 | 21 |
| Technical indicators (built-in) | 30 | 38 |
| Graphical objects | 31 | 44 |
| Depth of Market (DOM) | No | Yes |
| Economic calendar | No | Yes (built in) |
| Mobile trading | Available (iOS and Android) | Available (iOS and Android), with a broader feature set |
| Best suited to | Forex-focused traders relying on established MQL4 EAs | Multi-asset traders and those needing DOM, netting, or advanced backtesting |
Bottom line
To wrap things up, while FXCM doesn’t support MetaTrader 5 (MT5), it offers its own Trading Station platform, TradingView Pro and MT4. If you’re committed to MetaTrader, MT4 is an option, but you won’t get MT5 features such as depth of market, netting or multi-threaded backtesting.
For traders specifically looking for MT5, brokers such as Pepperstone, Fusion Markets, and FP Markets are strong alternatives. If your platform preference is less rigid and you are open to comparing on cost, regulation, and product range instead, it is worth reviewing our wider guides to the best forex brokers and the best CFD brokers, which cover proprietary platforms alongside MetaTrader-compatible ones.
FAQs
Does Interactive Brokers support MT5?
Yes, Interactive Brokers supports MetaTrader 5 (MT5). You can explore more information here.
Does eToro support MT5?
No, eToro doesn’t support MetaTrader 5 (MT5). For more details, explore more information here.
Does XTB support MT5?
No, XTB doesn’t support MetaTrader 5 (MT5). It offers its own xStation platform instead.
Does IG support MT5?
No, IG doesn’t support MetaTrader 5 (MT5). You can find out more here.
