MT5 Account Comparison 2026: Same Login, Different Pricing Explained

Kenji, an office worker in Tokyo, has ¥100,000 set aside and four broker tabs open. He keeps asking the same question: if I log into MetaTrader 5 with one set of credentials, can I actually compare what each account type costs, or am I comparing apples to oranges? The short answer is that one MT5 login shows you one account, and that account is tied to one platform. Comparing account types means opening each one, usually as a demo first, and reading the per-lot fees on the official schedule. Per the comparison data we reviewed, Vantage lists £1.00 per lot per side against Pepperstone's £2.25 per side (rates verified 10 July 2026).

Verdict: For a beginner who wants to see MT5 pricing before committing money, start with a demo on the broker you are evaluating, then compare per-lot commission across account types on the official fee pages. On the UK per-lot figures verified 10 July 2026, Vantage's £1.00 per side sits below Pepperstone's £2.25 per side, so Vantage is the lower-cost pick for commission-driven MT5 trading. For XM, open a free demo or claim the no-deposit bonus and see the real MT5 layout before you fund anything. Forex and CFDs carry a high risk of loss.

Does one MT5 login show every account type?

No. A login is generated for one account, and that account belongs to one platform. The Vantage academy notes that an account is opened for one platform, so an MT4 login does not work inside MT5, and MQL4 programs must be rewritten before they run on MT5. HFM's platform comparison makes the same point from the other side: the MT5 platform works only with MT5 accounts, and the MT4 platform works only with MT4 accounts.

What the same credentials do cover

Within one account, the picture is consistent. Vantage states that the same login number, password and server work across the desktop, mobile and web versions of MT5. That means you can check the spread and commission on your live or demo account from a phone while reviewing the desktop charts. It does not mean one login reveals the pricing of a second, different account type.

The practical workaround

Open one demo account per platform you want to evaluate, record the commission and spread from the official fee page, and keep the notes in one place. This is slower than a single login, but it is the only way to compare platforms on equal terms.

How does MT5 differ from an in-house platform?

The in-house platform is built by the broker and tied to its own infrastructure. MetaTrader 5 is a third-party platform that many brokers license. The differences that matter for account comparison are these:

• Account binding. An MT5 account cannot run on the in-house platform, and vice versa. Your choice of platform is effectively a choice of account.
• Program compatibility. Expert Advisors written in MQL4 must be rewritten for MQL5 before they run on MT5, a cost that often gets overlooked.
• Access points. MT5 is typically available on desktop, mobile and web with one login. In-house platforms vary, and you should check the official platform page for the exact set.
• Fee transparency. MT5 accounts commonly publish commission per lot per side, which makes like-for-like comparison easier than a spread-only model.

Worked example: what a $1,000 account pays per trade

Suppose you have a $1,000 account and trade one standard lot. A third-party aggregator reports that one MT5 Raw account lists $3.50 per standard lot per side (topforextrend.com, which states it did not test live execution or withdrawals). Commission is charged on the open and again on the close, so the round trip is $7.00. That is 0.7% of your balance before the spread is counted.

Now take the UK figures. At Vantage's £1.00 per side, the round trip on one lot is £2.00. At Pepperstone's £2.25 per side, it is £4.50. On a single lot, the gap is £2.50 per round trip. Over 100 round trips, that difference is £250, which is material for a small account.

The lesson is that the per-lot fee compounds quickly when you trade often. A scalper and a swing trader on the same account size face very different cost structures.

Scenario comparison: a $50 deposit versus a $500 deposit

At $50, you can only size micro lots, so per-trade commission is small in absolute terms but the spread becomes a larger share of each move. At $500, you can scale into larger sizes, and commission becomes a visible line item. The decision is less about the headline fee and more about how big your position will be relative to the account.

Common mistakes in the fine print

• Assuming one login covers every account type. It does not. Each account needs its own login.
• Reading the spread without the commission. Two brokers can look similar on spread and differ sharply once per-lot fees are added.
• Ignoring the bonus conditions. A deposit bonus is a cushion, not free money. Per the official terms, bonus credit is not directly withdrawable until a trading-volume condition is met.
• Forgetting the MQL4 rewrite. If your strategy depends on an MQL4 Expert Advisor, budget time for conversion.

How to open a demo and compare in 5 minutes

1. Go to the broker's official site and choose the MT5 account type you want to evaluate.
2. Open a demo account. No deposit is required.
3. Log in to MT5 with the demo login, password and server shown on the account page.
4. Open the contract specification for EUR/USD and note the commission and spread for that account.
5. Repeat for each account type or platform on your shortlist, and record the figures in one table.
6. When you are ready to test with real money, open XM free and start with no deposit. The no-deposit bonus ($30 where eligible No-Deposit Bonus) lets you trade without putting any of your own funds at risk, which is the lowest-risk first step.

Who should pick which

• Commission-focused, MT5-first traders: Vantage's published £1.00 per side is the lowest of the two UK figures verified on 10 July 2026. Compare it against the full fee schedule before deciding.
• Traders who want a bonus-backed start: XM offers a no-deposit route for the account-open stage and a deposit bonus that acts as a drawdown cushion. Read the volume condition before relying on bonus credit.
• Traders who want a platform-first choice: If you prefer the in-house platform, choose the account that runs on it. Do not expect MT5 features to appear there.

Kenji's decision follows the same logic. He opens a demo on the broker he is evaluating, records the per-lot fees from the official page, and only then decides whether to fund a live account. He does not treat the bonus as a reason to skip the comparison. Once he has the table, the choice is clear, and the demo removes the pressure of committing money before he understands the platform.

The rates above are the UK figures verified on 10 July 2026. Confirm the current value on the official fee page before acting.

Resolution and next step

Kenji's hesitation ends the moment he has a single table of per-lot fees and a working demo. For his situation, that means starting with the MT5 demo on the broker he is evaluating, comparing commission on the official page, and only then moving to a live account. Once the demo is running, the platform questions answer themselves.

The lowest-risk first step is to open a free XM account and claim the no-deposit bonus. Opening costs nothing, takes minutes, and you do not fund anything to start.

Risk warning: CFDs and forex are leveraged products. Because the majority of retail CFD accounts lose money, it matters that you can start with no deposit and practice on a demo before risking capital. Past platform performance and bonus terms do not guarantee future results.

Methodology: This review aggregates publicly available data from broker official pages, regulator public registers, and independent review aggregators verified on 2026-11-09. The editorial team has not personally traded on the broker(s) reviewed. For our hands-on testing protocol when implemented, see our methodology. Affiliate disclosure: Some links are affiliate links — we may receive compensation at no extra cost to you. Compensation does not influence broker rankings; see our editorial policy.

FAQ

Can I use one MT5 login to compare every account type?

No. Each MT5 login belongs to one account, and that account is tied to one platform. Vantage states that the same login, password and server work across desktop, mobile and web MT5, but that covers one account rather than several account types. To compare account types, open a demo for each one and record the per-lot commission and spread from the official fee schedule. This takes a little longer, but it is the only way to compare on equal terms and avoid mixing figures from different accounts.

Is MT5 the same as the in-house platform?

No. MetaTrader 5 is a third-party platform that many brokers license, while in-house platforms are built by the broker. HFM's platform comparison notes that MT5 works only with MT5 accounts, and the MT4 platform only with MT4 accounts. An MT4 login does not work in MT5, and MQL4 Expert Advisors must be rewritten for MQL5 before running on MT5. Choose the platform first, since it determines which account you can open.

Do MQL4 Expert Advisors work on MT5?

Not without changes. According to Vantage's MT4 vs MT5 academy page, MQL4 programs have to be rewritten before they run on MT5. Budget time and cost for that conversion before you switch platforms. If your strategy relies on a custom EA, test the rewritten version on a demo account first, since a converted program can behave differently from the original.

How much does commission cost per standard lot on MT5?

It depends on the broker and account. A third-party aggregator reports $3.50 per standard lot per side on one MT5 Raw account, and the UK figures verified on 10 July 2026 show Vantage at £1.00 per side and Pepperstone at £2.25 per side. A round trip doubles the per-side figure because commission is charged on open and close. Always confirm the current value on the official fee page, since fees change.

Is the MT5 demo account free to use?

Demo accounts on MT5 are generally offered at no cost and need no deposit, which makes them the lowest-risk way to compare pricing. Open one for each account type on your shortlist, log in with the demo credentials, and check the contract specification for EUR/USD. Demo fills do not replicate live execution, so treat demo results as a way to learn the interface and fee structure, not as a forecast of live performance.

How do I claim the XM no-deposit bonus?

Open an XM account through the official site, complete identity verification, and follow the bonus instructions shown in your account area. The no-deposit bonus ($30 where eligible No-Deposit Bonus) lets you trade with no funds of your own, so starting costs you nothing beyond your time. Bonus credit is not directly withdrawable until the trading-volume condition in the official terms is met, so read that condition before trading. Open XM free and start with no deposit: check XM official promotions

Sources & Verification

This article was fact-checked on 2026-11-09. Key claims:

• "Vantage advertises £1.00 per lot per side on MT5 accounts (rates verified 10 July 2026)." — verified via https://www.compareforexbrokers.co.uk/platforms/mt5/ on 2026-11-09
• "Pepperstone is listed at £2.25 per side per lot on MT5 accounts (rates verified 10 July 2026)." — verified via https://www.compareforexbrokers.co.uk/platforms/mt5/ on 2026-11-09
• "The MT5 platform is compatible only with MT5 accounts, and the MT4 platform only with MT4 accounts." — verified via https://www.hfm.com/int/en/platforms/trading-platforms-comparison on 2026-11-09
• "An account is opened for one platform, an MT4 login does not work in MT5, and MQL4 programs must be rewritten to run on MT5." — verified via https://www.vantagemarkets.com/en/academy/mt4-vs-mt5/ on 2026-11-09
• "One MT5 Raw account lists $3.50 per standard lot per side, per a third-party aggregator that states it did not test live execution or withdrawals." — verified via https://topforextrend.com/metatrader-5-brokers/ on 2026-11-09
• "The same MT5 login number, password and server work across desktop, mobile and web versions of MT5." — verified via https://www.vantagemarkets.com/en/academy/mt5-brokers-compared/ on 2026-11-09