What is MT4?
MetaTrader 4 (MT4) is a well-known online trading platform developed by MetaQuotes in 2005. The trading platform is adopted, and some times customised by best forex brokers, to set them apart from their competitors.
MT4 is pretty popular not only because almost all online brokers had adopted the software, but also due to the fact that it is highly customisable to your trading preferences. If you are interested in algo-trading or prefer to automate your trading strategies, MT4 has some limitations, but can do the job for you.
Is MetaTrader only for forex?
Even though MT4 is mostly used for fx trading, it’s not limited to currency trading and can be easily used to trade a range of markets including forex, indices, cryptocurrencies, and commodities, via CFD trading.
What is MT5?
MetaTrader 5 is the new release and known as the institutional multi-asset platform that enables you to implement, EA, conduct advanced technical analysis, use Robo-Advisors or trading robots, opt-in for trading signals and practice copy trading. MetaTrader 5 is an all-in-one trading platform and is not limited to Forex, yet it’s not adopted by majority of traders.
Top Online Brokers That Use MT4
Which MT4 broker is the best for beginners?
When it comes to choosing the best forex trading platform in 2021 that uses MetaTrader 4, you can refer to the list below to review them, open a demo account and get your self familiar with their customised MT4 platform. Honestly, there is no one-solution-fits-all prescription in trading niche.
Pepperstone MT4 online trading platform
Pepperstone is a globally regulated broker. The brokerage services are limited to Forex and CFD and it can be traded using the traditional MT4 trading platform. It also allows you to sort products, assets, search for different categories, and set price alerts.
In addition to being rated as one of the best cfd brokers , Pepperstone provides great options to all traders. For instance, you can easily start trading with a low deposit of $200 and expect low fees and charges of spreads beginning from 0 pips on Forex instruments.
AvaTrade MT4 Trading Platform
AvaTrade is one of the most popular regulated brokers that is also among top 3 best cryptocurrency brokers this year. It offers CFDs, Crypto & FX with 56 currency pairs. On the bright side, AvaTrade is known as a low fees broker for trading both CFDs and Forex. The negative point is that the charge high inactivity fees.
Forex and CFD traders go to Admiral Markets for its modern and customized MetaTrader platform and highlight. What sets them apart is their add-ons and market research tools, and premium analytics. Admiral Markets offers four account types. their trading fees are comparative with ranges from 0.6 pips to 0.7 pips.
FP Markets Metatrader4 Platform
FP Markets offers two account types with STP and ECN execution models accordingly available for MT4 MT5 platforms. IRESS account offering proposing an additional account for the traders who prefer to use this particular trading software.
IC Markets MT4
IC Markets offer genuine ECN account through their MT4 platform. This forex and CFD service provider allows scalping and charges spreads from 0 pips* for over 60 currency pairs. IC Markets is also known as one of the best brokers for beginners as it does not ask for any minimum deposit and offers basic training materials.
OctaFX offers a few unique trading products, including indices, Forex, metals, and crypto with CFD markets. They are, of course, not only regulated locally, but they are also governed by top tier European financial authorities, which makes them safe to trade with.
They, of course, do use the Metatrader platform, and therefore fits pleasantly with all the other brokerage firms in this list. Additionally, they offer cTrader, which is their version of alternative to Metatrader.
LCG or London Capital Group Limited is a brokerage firm from UK that provides Forex, metals, oil, and different soft commodities. It was established in 1996 and has won numerous awards over the last several years, including the best mobile trading platform, CFD broker of the year, and more.
Besides, it is considered to be the second-biggest spread betting and CFD broker in the United Kingdom, next to city index. Not only do they offer CFD trading, but also options trading, and Forex-CFDs are available too.