Connect MetaTrader 5 to Forex.com and City Index (UK)
Connecting MetaTrader 5 to Forex.com and City Index (UK) is mostly a paperwork job followed by a five-minute setup — the tricky part is getting your account type and server details right the first time, so you don't end up staring at a "invalid account" error at 2am. Here's the full workflow, plus what to check before you commit real money.
Before you start: confirm MT5 availability and account type
Both Forex.com and City Index are long-standing UK brands under the StoneX group, and both are FCA-regulated for UK retail clients. That regulatory point matters — it's why UK retail FX accounts with either brand are subject to the FCA's leverage cap of 30:1 on major currency pairs, regardless of which platform you connect through.
Platform support and account structures do change over time, so before you install anything:
- Log into the broker's client portal and check which platforms are listed against your specific account — some legacy accounts are MT4-only, others offer MT5, and some are tied to the broker's own proprietary platform instead.
- Note your account number, server name, and whether it's a demo or live account — these appear in your welcome email or account settings page.
- Check margin/leverage settings for your account, since this affects position sizing once you're connected.
- Confirm spreads, commissions, and any platform fees directly on the broker's site or via PipTax's [cost tool](/audit.html) — don't assume figures from forums or old articles are still current.
If MT5 isn't listed for your account, contact support and ask directly whether MT5 access can be enabled, or whether you need a different account type.
Downloading and installing MetaTrader 5
Once you've confirmed MT5 is available on your account:
1. Download MT5 from the broker's own client area rather than a generic app store search — this usually pre-configures the server list correctly. 2. Alternatively, download the standard MetaTrader 5 installer from metatrader5.com and add the broker's server manually (see next section). 3. Run the installer — Windows, macOS (via wrapper), iOS and Android versions are all available. 4. On first launch, MT5 will prompt you to log in or open a demo account. Choose login to an existing account.
Keep your installation official: only download from the broker's site or the official MetaQuotes site. Avoid third-party "modified" MT5 builds — they're not something PipTax can vouch for and they can carry security risks.
Finding the correct server name
This is the step people most often get wrong. Both brokers run specific MT5 server entries that must match your account exactly — a live account won't connect to a demo server and vice versa.
- Open MT5, go to File > Login to Trade Account.
- Click the Server dropdown and type the broker's name (e.g. "Forex.com" or "City Index") to filter the list.
- If you don't see the right entry, click Scan to search available servers, or check your account welcome email — the exact server string (e.g. broker-Live or broker-Demo, with a number) is usually printed there.
- Enter your login number and password (investor/read-only password will only allow monitoring, not trading).
If the server simply isn't listed, it's a strong signal your account is provisioned for MT4 or a proprietary platform instead — go back and check with support rather than guessing.
Setting up demo vs live correctly
Don't skip the demo stage, even if you're an experienced trader — it's the fastest way to confirm the connection, symbol list, and execution behaviour before risking capital.
| Step | Demo account | Live account | |---|---|---| | Purpose | Test connection, symbols, EAs | Real trading | | Server | Broker's -Demo server | Broker's -Live server | | Funding | Simulated balance | Requires deposit | | Leverage shown | May differ from live cap | Subject to FCA 30:1 cap on majors |
Practical checks to run on demo first:
- Confirm your symbol list matches what you expect (some brokers use suffixes on instrument names).
- Place a small test trade and check fill behaviour and one-click trading settings.
- If you use Expert Advisors, test them on demo first and confirm the broker's server allows automated trading (check Tools > Options > Expert Advisors and ensure "Algo Trading" is enabled in the toolbar).
Common connection errors and fixes
- "Invalid account" — you're likely on the wrong server (live vs demo mismatch) or have mistyped the login number.
- No server found when searching — your account may not have MT5 provisioned; check with the broker or try downloading MT5 directly from their client portal link.
- Connected but no prices/greyed-out chart — check your internet connection, firewall settings, or whether the market is closed for that instrument.
- EA won't trade — confirm "Algo Trading" is toggled on in MT5's toolbar and that the broker's server permits automated strategies on your account type.
- Repeated disconnects — try a different network, disable VPN if you're using one, or check the broker's status page for server maintenance.
Comparing platform and cost before you commit
Getting connected is only step one — the platform choice interacts directly with your trading costs. MT5 gives you more built-in indicators, timeframes, and an economic calendar compared with MT4, but the two brokers may price spreads, commissions, or platform fees differently depending on account type and platform.
Before funding a live account:
- Use PipTax's [cost impact tool](/cost-impact.html) to see how spread and commission differences compound over your typical trade volume.
- Run a full broker cost comparison via the [audit tool](/audit.html), which pulls in live, verifiable figures rather than stale marketing numbers.
- Check the [brokers directory](/brokers/index.html) for FCA status, platform lists, and other verified details on both Forex.com and City Index.
- Review PipTax's [methodology](/methodology.html) to understand exactly how "true cost" figures are calculated, so you're comparing like with like.
Final checklist before going live
Connecting MetaTrader 5 to Forex.com and City Index is straightforward once you follow the right order: confirm MT5 is on your account, download from an official source, match the correct server, and test everything on demo first. Run through this checklist before switching to live trading:
- MT5 confirmed available on your account type (not just MT4 or proprietary platform)
- Correct live/demo server selected and login tested
- Symbol names and suffixes checked against your trading plan
- EA/algo trading permissions enabled if you use automated strategies
- Costs verified independently via PipTax's [cost tool](/audit.html) rather than assumed
- FCA regulatory status and leverage cap understood for your account
Trading forex carries a high level of risk, and leverage can magnify both gains and losses — never trade with money you can't afford to lose, and always verify live account terms directly with the broker.
Key takeaways
- Confirm MT5 is actually available on your Forex.com or City Index account before installing anything — some accounts are MT4-only or use a proprietary platform.
- Both brokers are FCA-regulated in the UK, meaning major FX pairs are capped at 30:1 leverage for retail clients.
- The most common connection failure is mismatching live vs demo servers or mistyping the login number.
- Always test on a demo account first to check symbol names, execution, and EA/algo trading permissions.
- Never assume spreads or commissions from old articles — verify current costs with PipTax's cost tool before funding a live account.
- Download MT5 only from the broker's official client portal or metatrader5.com to avoid unverified third-party builds.
Frequently asked questions
- Do Forex.com and City Index both support MetaTrader 5?
- Platform availability can vary by account type and has changed over time for many brokers, so confirm directly in your client portal or with support whether MT5 is enabled on your specific account before setting up. If it isn't listed, ask the broker whether it can be added.
- Why can't I find the right server when logging into MT5?
- This usually means your account isn't provisioned for MT5 (it may be MT4-only or tied to a proprietary platform), or you're searching with the wrong keyword. Try downloading MT5 directly from the broker's client area, which often auto-configures the correct server list.
- What leverage will I get on a UK MT5 account with these brokers?
- As FCA-regulated brokers, retail accounts are subject to the FCA's 30:1 leverage cap on major currency pairs. Exact leverage on other instrument classes should be confirmed in your account settings or with the broker directly.
- Should I test on demo before going live?
- Yes. Demo testing lets you confirm the server connection, check symbol names and suffixes, and verify Expert Advisor/algo trading permissions without risking real capital.
- How do I compare true trading costs between Forex.com and City Index?
- Don't rely on marketing pages or old forum posts. Use PipTax's cost tool to pull live spread and commission comparisons, and check the brokers directory for verified regulatory and platform details.
- What's the biggest mistake traders make when connecting MT5?
- Mismatching live and demo servers, or mistyping the account login number — both produce an 'invalid account' error even though the credentials are otherwise correct.