Best MT4 Forex Brokers in UK Discussed

Updated on: July 15th, 2022

What is MT4?

MT4 is a straightforward and intuitive trading platform traders use to speculate on major financial market prices. These financial markets generally include stocks, commodities, indices, cryptocurrencies, and forex trading. These are just to name a few.

MT4 has become more popular because it automatically allows traders to create their trading strategies. Since it has become one of the leading trading platforms currently available in the market to automate trades. So, any trader who wants an efficient trading experience usually prefers using Meta Trading 4 platform.

MetaQuotes developed the platform originally in 2005. The platform is licensed to offer enhanced peace of mind to its traders. The platform provides its traders with live trading charts and prices in real-time. Consequently, having access to current market information helps traders to place an order, manage their trading accounts and design their trading strategies accordingly.

Key Features of Meta Trading 4 Platform

MT4 is the best trading platform designed for future and forex trading. Meta Trading 4 platform allows its traders to:

• Analyze financial markets
• Run trading robots
• Perform advanced trading tasks
• Perform social trading by copying other traders’ deals.

MT4 is a more amazing trading platform to use for multiple other reasons as well. Let’s learn about some of its features below to understand things better.

So, here we go:

1. Multiple trade execution modes can help you to implement different forex trading strategies easily.
2. This trading platform offers wider analytical opportunities to clearly see traders’ price dynamics. Multiple technical indicators and graphic objects provide a more comprehensive price analysis.
3. MT4 platform meets the highest security standards and encrypts data needed to exchange between platform servers and terminals to offer enhanced security.
4. Automated trading allows traders to create trade strategies with automated trading robots. These trading robots are expert advisors that can analyze currency quotes and help execute trading operations.

Best MT4 brokers UK, you must know

1. Pepperstone
2. Plus500
3. CMC Markets
4. FXCM
5. City Index

Quick Overview of best MT4 brokers UK

Pepperstone

This trading broker was established in 2010 and is now considered one of the best MT4 brokers UK, especially for social trading. It offers two different account types and allows traders to trade 60 currency pairs based on their preferences. Standard accounts have no commissions and average spreads.

Pros

• Pepperstone has a highly responsive customer service team.
• It offers free money deposits and withdrawals.
• The availability of multiple trading platforms allows versatility.
• The platform offers quick trade times.

Cons

• The platform offers limited trading streams.
• Broker doesn’t contain any unique trading platform.

Plus500

Plus500 is another leading MT4 forex broker that provides access to 70 forex pairs for trading. It was established in 2008 and is now considered a well-regulated and trustworthy forex broker in the UK.

It offers guaranteed stop-loss orders and provides extensive research and educational tools for improved trading capabilities.

Pros

• Plus500 offers a free demo account to kickstart your forex trading journey.
• The platform is SSL Secure and offers a reliable forex trading experience.
• Easy to use and intuitive trading platform, even for beginners.
• It allows trading with tighter spreads.

Cons

• Available educational resources are limited.
• It doesn’t allow the trader to use third-party trading tools.

CMC Markets

This one of the best MT4 brokers UK has been in the industry for more than e decades. The broker is FCA regulated and offers a highly secure trading platform for its punters. You can access three different account types with CMC Markets. Regardless of your account choice, you can trade on over 9000 instruments, including 300 foreign currencies.

Pros

• A well-regulated MT4 broker with the highest security standards
• The mobile platform of CMC Market is amazing.
• It offers access to a decent range of research tools.

Cons

• CMC market doesn’t offer educational tutorials for traders.
• This platform has higher trading fees comparatively.

FXCM

This no-commission forex broker allows punters to trade in forex, shares, and CFDs globally. FXCM has a long history of providing forex trading services. Now it is considered one of the most reliable MT4 brokers in the UK to start your forex trading journey.

Pros

• The minimum deposit limit of FXCM is lower.
• It allows access to a wide range of trading platforms.
• You can access plenty of high-quality trading tools.
• It offers multiple educational resources for traders.

Cons

• FXCM doesn’t accept US traders.
• The platform has higher spreads than the average rate.

City Index

Are you looking for a more competitive range of spreads and lower trading fees? Then City Index is one of the best MT4 brokers UK to consider. The platform started in 2014 and now offers 84 currency pairs to trade. You can get the opportunity to trade the majority of major, exotic, and minor currencies through this platform. Although City Index is a multiple-platform broker. However, you can stick to MT4 if you are comfortable and familiar with its controls.

Pros

• The broker has an easy-to-use and intuitive trading platform.
• You can have access to plenty of research tools
• It charges lower forex-trading fees.
• It offers a quick and smooth experience of account opening.

Cons

• The product portfolio of the City Index is limited comparatively.
• The desktop platform of City Index needs some improvements.

Verdict

These are some of the best MT4 brokers UK you need to know. Now you can choose any of these based on your preferences with ease.