This is not investment advice. The information provided is for educational and informational purposes only and does not constitute a recommendation to buy or sell any financial product.
MetaTrader itself is free for the trader, and the broker pays the licence fee to MetaQuotes. The trader downloads the platform from the broker's website, and the trader uses the platform without paying a licence fee. The platform-side fees are minimal, and the broker-side fees depend on the broker. The trader should understand the difference between the platform-side fees and the broker-side fees, and the trader should look at the total cost of trading on MetaTrader.
The platform-side fees
The first fee is the data feed. The data feed comes from the broker, and the broker may charge a fee for real-time data. The fee varies by broker, and the fee ranges from €0 for delayed data to €50 per month for real-time data on multiple exchanges. The data fee is a significant cost for active traders, and the data fee is a fixed cost regardless of the trading activity.
The second fee is the expert advisor or indicator purchase. The trader can buy EAs and indicators from the MQL5 Market, and the trader pays a one-time fee or a subscription. The fee ranges from €0 for free EAs to €5,000 for premium EAs. The trader should look at the track record before buying, and the trader should not buy an EA without a verified track record.
The third fee is the virtual private server (VPS). The trader who runs an EA 24/7 needs a VPS, and the VPS hosts the platform on a remote server. The VPS fee ranges from €5 to €50 per month, and the VPS is necessary for traders who do not want to keep the platform running on a personal computer. Some brokers offer a free VPS for traders who meet a minimum volume.
The fourth fee is the platform upgrade. The platform itself is free, but the trader may pay for a premium version with additional features. The premium version is rare, and the premium version is offered by some brokers who develop their own plugins for MetaTrader.
The broker-side fees
The first fee is the commission. The broker charges a commission per trade, and the commission is the broker's compensation for executing the trade. The commission varies by broker, and the commission ranges from €0 at an ECN broker to €10 per lot at a market maker. The trader should compare the commission across brokers, and the trader should look at the total cost including the spread.
The second fee is the spread. The spread is the difference between the bid and the ask, and the spread is the broker's compensation for executing the trade. The spread varies by broker, and the spread is wider on illiquid stocks. The trader should compare the spread across brokers, and the trader should look at the typical spread on the stocks the trader wants to trade.
The third fee is the financing charge. The broker charges a financing charge on leveraged positions held overnight, and the financing charge is a percentage of the position value. The financing charge ranges from 1 percent to 5 percent per year, and the financing charge is added to the cost of holding the position overnight.
The fourth fee is the inactivity fee. Some brokers charge an inactivity fee for not trading for a period, and the inactivity fee ranges from €0 to €50 per quarter. The trader can avoid the inactivity fee by trading at least once per quarter, and the trader can avoid the inactivity fee by choosing a broker that does not charge an inactivity fee.
The fifth fee is the withdrawal fee. Some brokers charge a withdrawal fee, and the withdrawal fee ranges from €0 to €25 per withdrawal. The trader can avoid the withdrawal fee by choosing a broker that does not charge a withdrawal fee, and the trader can avoid the withdrawal fee by using a payment method that is free.
How to minimize the total cost
The first step is to compare the broker-side fees. The trader should compare the commission, the spread, the financing charge, the inactivity fee, and the withdrawal fee across three to five brokers. The comparison should be based on the trader's typical trading pattern, and the comparison should include all the fees the trader is likely to pay.
The second step is to use free data feeds. The trader who can accept delayed data can use the free data feed, and the trader can save the data fee. The free data feed is delayed by 15 minutes, and the delayed feed is sufficient for swing traders and long-term investors.
The third step is to use free EAs. The trader can find free EAs on the MQL5 Market, and the free EAs are sufficient for most strategies. The trader should test the free EA on a demo account before going live, and the trader should monitor the EA for at least four to eight weeks.
The fourth step is to avoid the VPS. The trader who does not need to run the EA 24/7 can avoid the VPS, and the trader can run the platform on a personal computer. The personal computer should be on during the trading hours, and the personal computer should have a stable internet connection.
Common questions about MetaTrader fees
Is MetaTrader free? Yes, the platform is free for the trader, and the broker pays the licence fee to MetaQuotes. The trader downloads the platform from the broker's website, and the trader uses the platform without paying a licence fee.
What is the most expensive fee on MetaTrader? The data fee is the most expensive fixed cost, and the data fee can be €50 per month for real-time data. The trader who trades frequently can justify the data fee, and the trader who trades rarely can use the delayed data.
Can I use MetaTrader on multiple brokers? Yes, the trader can install the platform multiple times, and the trader can connect each instance to a different broker. The trader can also use the same account on multiple platforms, and the trader can switch between brokers without changing the platform.
Related resources
Where to start
If you are evaluating the fees of using MetaTrader, the most useful first step is to compare the broker-side fees across three to five brokers, and to check the data fee and the EA fee. Our broker comparison lists the MetaTrader brokers and the fee schedules, which together tell you what the broker charges before you open the account.