MetaTrader 5, popularly known as MT5, is arguably one of the most popular and widely used trading platforms. From its offered trading instruments, familiar platform interface, and free MT5 software access, MetaTrader 5 makes online trading accessible and easy for traders.
This TRU Insight provides a step-by-step guide to download and install MT5 on your computer. Additionally, our TRU experts reviewed, tested, and traded on over 20 MT5 brokers in South Africa. Read on as we reveal our top 5 best MT5 broker picks.
Step-by-Step Guide to Download MT5 for FREE
The MetaTrader 5 platform, in almost all its aspects, ensures a seamless and accessible user experience. Having a hard time downloading MT5 to your computer? Here’s how you can do it easily.
Note: MT5 has a web terminal wherein you can chart the market on your computer browser.
Step 1. Go to the MT5 Website
Visit the MetaTrader 5 website (https://www.metatrader5.com/) to access the download button. Remember, the MT5 download is free for all.
Alternatively, you can access the MT5 download link from your broker’s platform.
Step 2. Click the Button to Start the MT5 Download
From the website, click on the “Download MetaTrader 5 for Windows” button to start your MT5 download.
For non-Windows users, MT5 can also be downloaded to macOS and Linux.
Step 3. Locate the Downloaded File on Your Computer
Go to your file manager and locate the downloaded MT5 file. The file should be in an .exe format, named “mt5setup.exe”.
Step 4. Run the Application as Administrator
Right-click on the file and select “Run as Administrator”
A pop-up box asking permission for admin control shall appear. Click “Yes” to permit access.
Step 5. Acknowledge the User Agreement to Install MT5
Once permitted, the MT5 End-User License Agreement will appear. Read through the document and click “Next >” if you agree.
Agreeing to the terms will prompt the installation of MT5. Once the installation process is completed, click “Finish” or wait until the MT5 application launches by itself.
From there, find your broker’s company by inputting either their company name or website into the search bar.
If you don’t have a broker yet, you can select the MetaQuotes Ltd. option to explore the platform. This will also allow you to access the MT5 demo trading feature. This feature is available for all, enabling everyone to practice their trades or get familiarized with the platform without any financial commitments.
Our Experts’ Top 3 MT5 Brokers in South Africa
Downloading and installing the MT5 platform is just an easy task. What’s hard is finding the right MT5 brokers in South Africa. Our TRU experts did all the legwork for you. They tested more than 20 South African MT5 brokers, and these are their top 3 picks.
Their assessment goes beyond the technological and additional features of the MT5 brokers. Instead, our experts put heavy weight on their regulatory complaint with the FSCA.
Remember, dealing with an FSCA-regulated MT5 broker provides you with a safety net in case you have a dispute with the broker. FCSA allows you to escalate your disputes or claims to the FAIS Ombudsman.
Related: Financial Sector Conduct Authority Helps You Invest Better – TradersUnited
AvaTrade
| AvaTrade FSCA Regulation | FSP. 45984 |
| AvaTrade Minimum Deposit | USD 100 |
| Other Trading Platforms | AvaTradeGo for mobile, AvaTrade Webtrader, AvaOptions, and AvaFutures. |
Established in 2006, AvaTrade is one of the pioneers of online trading in South Africa. For almost 2 decades now, this MT5 broker has been providing South African traders access to the financial markets—all with the necessary compliance with other regulatory bodies like FSCA, ASIC, CySEC, etc, and top-notch innovative features like social trading.
Aside from its MT5 integration, AvaTrade developed its proprietary platforms, namely AvaTradeGo, AvaTrade Webtrade, AvaOptions, and AvaFutures. These innovations allow its traders to have the full AvaTrade experience.
While its minimum deposit fee is the highest among the other picks, our experts noted that this capital requirement protects users from negative balances.
However, our experts raised concerns about the lack of selection of trading instruments.
Vantage
| Vantage FSCA Regulation | FSP. 51268 |
| Vantage Minimum Deposit | USD 50 |
| Other Trading Platforms | Vantage ProTrader |
Vantage is our second pick as the top MT5 broker in South Africa. Arguably, it’s one of the most popular brokers in South Africa, which makes sense due to its multi-regulated operation, high leverage of 500:1, copy trading capability, and decent selection of instruments.
Aside from the FSCA, Vantage also complies with the financial laws and regulations of the FCA, ASIC, CIMA, and VFSC. This depth of regulatory compliance ensures that the operations of this MT5 broker align with your interests and protection.
Exness
| Exness FSCA Regulation | FSP. 51024 |
| Exness Minimum Deposit | USD 10 |
| Other Trading Platforms | Exness Trading Terminal |
Exness ranked 3rd as the best MT5 broker in South Africa in 2025. This broker is globally renowned for its regulation, securing licenses, and complying with multiple regulators from different jurisdictions. Aside from the FSCA, this MT5 broker is regulated by:
- Financial Conduct Authority (FCA) of the United Kingdom
- Financial Services Authority (FSA) of Seychelles
- Cyprus Securities and Exchange Commission (CySEC)
- Capital Markets Authority (CMA) of Kenya
- Jordan Securities Commission (JSC) of the Middle East
- Mauritius Financial Services Commission (FSC)
However, despite its comprehensive regulatory compliance, our experts ranked Exness last due to the limited selection of trading instruments. This MT5 broker only provides access to forex and CFD instruments—Exness users don’t have access to real stocks and ETFs.
Frequently Asked Questions
Are There Other MT5 Brokers in South Africa?
Yes, aside from these expert-picked brokers, South African traders can access various brokers. This includes leading brokers like IG, XM, Pepperstone, and IC Markets. However, these brokers are not regulated by the FSCA.
What Is MT5?
MetaTrader 5, or MT5, was released in 2010 after the successful run of MT4. Much like its predecessor, MT5 boasts numerous features and functionality, but was designed to have a more user-friendly interface.
While it retains many of MT4’s core functions, MT5 is more versatile and supports a wider range of trading instruments, including stocks, crypto, and futures (which were previously unavailable to MT4).
Related: 2025 Update: 5 Best Brokers for MT4 in South Africa – TradersUnited
Access Verified Trader Reviews of MT5 Traders in South Africa
TradersUnited connects online traders worldwide in a unified and verified online trading community. Through CommuniTrade, you can engage with other traders, make informed trading decisions using their knowledge, and tap into their genuine experiences and reviews on MT5 brokers in South Africa.
