Best MT5 Forex Brokers with UPI Deposit in India (2026)
Updated April 2026 • 7 min read
MetaTrader 5 (MT5) is the newer and more powerful successor to MT4. It offers more timeframes, more order types, a built-in economic calendar, and access to more instrument types including stocks. For Indian traders who deposit via UPI, choosing an MT5 broker gives you access to the most advanced retail trading platform available.
MT5 vs MT4: Why MT5 Wins
| Feature | MT4 | MT5 |
|---|---|---|
| Timeframes | 9 | 21 |
| Order Types | 4 | 6 |
| Economic Calendar | No | Built-in |
| Depth of Market | Limited | Full DOM |
| Strategy Tester | Single-threaded | Multi-threaded |
| Execution Speed | Standard | Faster |
Best MT5 Brokers with UPI
1. Exness MT5
Exness offers all account types (Standard, Raw Spread, Zero, Pro) on MT5. UPI deposits are instant, and the MT5 platform is available on Windows, Mac, Android, iOS, and web. Exness MT5 supports over 200 trading instruments including forex, metals, energies, cryptos, and indices.
2. XM MT5
XM offers MT5 with access to over 1,000 instruments, including stock CFDs. The Ultra Low and Zero account types are available on MT5. XM also offers MT5 on all platforms and provides a $30 no-deposit bonus that can be traded on MT5.
Setting Up MT5 with UPI Deposit
- Register on Exness or XM and complete KYC verification.
- Create an MT5 trading account in your broker Personal Area. Select MT5 as the platform.
- Deposit via UPI using any UPI app. Funds are available instantly on Exness.
- Download MT5 from the broker's website or your app store.
- Log in using the server, login ID, and password from your broker account.
- Start trading with your UPI-deposited funds.
For deposit walkthrough, see our UPI deposit guide. For broker comparison, see best UPI forex brokers.
Start Trading with UPI
Exness offers instant UPI deposits and withdrawals. INR 300 minimum. Zero fees.
Frequently Asked Questions
Is MT5 better than MT4 for Indian traders?
Yes. MT5 offers 21 timeframes vs 9, faster execution, built-in economic calendar, and access to more instruments. Unless you have existing MT4 expert advisors that are not compatible with MT5, there is no reason to choose MT4 over MT5.
Can I use MT5 on my phone with UPI deposit?
Yes. MT5 is available on Android and iOS. You can deposit via UPI on your phone, download MT5 from your app store, and trade entirely from your mobile device.
Which MT5 account type has the lowest spreads?
Exness Zero account on MT5 offers 0.0 pips on the 30 most traded pairs with a $3.50/side commission. The Raw Spread account offers 0.0 pips on all pairs with the same commission. Both are available with UPI deposits.