Updated on: August 25th, 2024
Best MT4 Brokers – Top MetaTrader4 Forex Brokers
There are so many online trading interfaces found online today, and brokers offer traders the best platforms they can to simplify their trades. One of the most sought-after brokers is MT4 brokers. Also called MetaTrader 4, this platform is highly intuitive and loaded with excellent charts and trading tools. If you are a beginner, you may not care too much about using MetaTrader 4 for your trades, but using it is a must if you are an experienced trader.
Updated on: August 25th, 2024
In This Guide
Top Metatrader 4 Forex Brokers List
The best MT4 brokers offer traders access to MetaTrader 4 platforms for efficient spot trading. The best forex brokers have MT4 as part of their trading platforms.
VFSC, CySEC
100% bonus
$100
500:1
ASIC, VFSC
N/A
$100
500:1
ASIC, CBI, BVI, FSCA, IIROC, FFAJ, JFSA, ADGM FRSA
up to 40% bonus
$100
400:1
CySec, ASIC, BVI
up to 50% bonus
$100
400:1
VFSC, FSC, IBFC
N/A
$5
1000:1
ASIC, VFSC
$10 000 demo
$50
500:1
FCA, ASIC, CIMA, SIBL
up to 50% bonus
$100
500:1
Best MT4 Brokers Reviewed
To help you out, we have put together a shortlist of some of the best MT4 brokers online. Do have a look at MT4 broker reviews below.
IC Markets
First on our list of the best MT4 brokers is IC Markets. This broker has an advanced platform that algorithmic traders will enjoy. IC Markets is a commission-based broker with a minimum deposit requirement of $200. While their learning section does not have impressive learning resources, it excels in other areas. For instance, they offer tight spreads starting from 0.0 pips
Founded in 2007, IC Markets is highly regulated by the Australian Securities & Investment Commission (ASIC). We, like many other review sites, consider it a very safe broker with average risk forex and CFD trading. If you like to execute inch-perfect trades, you will enjoy IC Markets MetaTrader4 platform as well as its cTrader.
- Advanced technical, analytical tools
- Wide asset range
- Tight spreads
- Poor educational library
FP Markets
Another broker we consider as one of the best MT4 brokers around is FP Markets. This broker offers more than 130 tradable instruments and a suite of advanced trading and analytical tools. Their charge is also highly efficient and easy to use and interpret. For forex traders, they can enjoy trading up to 61 currency pairs, four metals, and 12 indices. They also have three commodity assets and give cryptocurrency assets you can trade.
Founded in 2005, the minimum initial deposit is $100, and the low spreads offered can help you minimize your risks. FP Markets offers MetaTrader 4 as well as their customized Iress trading platform. It is regulated by ASIC and other regulators.
- Easy to use interface
- Low spreads
- Multiple trading platforms
- Low deposit requirement
- Only regulated by one Tier 1 regulato
- Limited cryptocurrencies available for trading
XM Group
XM is another forex broker. This broker may not be as popular as others on this list but believe us when we say that their system is compatible with MetaTrader4, and they work well together. One of the high points of their service feature is their outstanding range of research and training materials. Their pricing policy is also customer friendly too.
If you are looking for a low deposit broker, XM is one of the best MT4 brokers to bank on because you can start love trading for as low as $5, which is quite rare when you consider the deposit requirements of other brokers. Established in 2009, they offer very low spreads and thousands of tradable assets. XM also has a high trust level because the FCA and ASIC regulate it.
- Excellent Copy trading feature
- A rich hive of research and training resources
- Offers low-cost trading
- Not the best for advanced traders
Pepperstone
Pepperstone is one of the industry leaders as far as forex brokerage is concerned. This broker is regarded as one of the world’s largest third-party platforms, and their social trading tool is one of the best we have seen. To begin trading with Pepperstone, you will have to fund your account with at least $200, and you can have access to trading thousands of assets on their platform.
This Australian broker was founded in 2010, and over the years, they have been able to grant a high level of trust from regulators and brokers. If you are an algorithmic trader or a copy trader, you will enjoy trading with Pepperstone. They offer both MetaTrader4 and cTrader platforms. As for their pricing, they are competitive. We also like the fact that they offer different types of trading accounts to users based on their experience level. Pepperstone is regulated by ASIC and the FCA.
- There are no commissions from trading the cryptocurrencies
- Outstanding customer service
- Free and seamless deposit and withdrawal
- No proprietary mobile app and trading platform
- Mostly CFDs offered
Conclusion
Trading forex is a risky endeavor, so you need to ensure that the platform you use offers you the best opportunities to place winning trades. You stand to lose your investment by a fraction of a second if the trading tools you use are too slow, not easy to implement, or do not fit your trading style. For pro traders or traders who like to replicate the same trades within the same window, the best MT4 brokers are their best bet. All the forex brokers reviews in this list offer tight spreads and competitive pricing.
MT4 broker FAQs
Who is an MT4 broker?
An MT4 broker is a forex broker who offers traders access to a MetaTrader4 platform.
Are they called MT4 brokers because they only use MetaTrader4?
No. An MT4 broker can offer other trading platforms like cTrader, a customized platform alongside MetaTrader4.
Why do some traders like trading on MetaTrader4?
MetaTrader4 is an advanced trading platform professionals use to execute quick trades. The charts and other tools on the platform are advanced and provide detailed information that other lesser platforms cannot.
Is MT4 the most advanced platform among the MetaTrader series?
No, it is not. The most advanced is MetaTrader5.
If I am a beginner trader, is it advisable to use MT4?
That will depend on you. Some beginners find MT4 too complex and will rather start with more basic platforms. As they gain more experience and skill improvement, they graduate to MT4.
Will trading on MetaTrader4 attract any extra cost?
No, there are no extra costs incurred for trading on MetaTrader4.
Other broker types
