Looking for the best MetaTrader 4 broker? Our comprehensive guide compares top Metatrader Brokers and MT5 brokers based on platforms, fees, regulations, features, execution time, and more. Our list helps you find the best MT4 broker to implement your trading plan template and currency trading strategy.
MetaTrader is one of the most popular trading platforms among forex traders, offering a wide range of tools and features for both beginners and experienced traders. In this guide, we’ll compare the recommended MetaTrader broker based on platforms, fees, regulation, and more, to help you find the best broker for your trading needs.
Table of Contents
- Best MetaTrader 4 broker for beginners:
- MetaTrader Platforms Comparison
- 14 Forex Brokers list Offer MT4:
- Advantages of MT4 Trading Platforms:
- Features of MT4 Platforms:
- Execution time in MT4 Vs other Online Platforms:
- Trading Instruments:
- Minimum Deposit, Fees & Commissions:
- MT4 Trading Accounts:
- What is the Best broker for MetaTrader?
- Are there any Good MetaTrader brokers for beginners?
- How to use Metatrader for Forex Trading?
- What are the key features of MT 4 & MT 5?
- What is the difference between MT4 Vs MT 5?
- What Meta Trader Platform offer advanced charting and backtesting capabilities?
- What is MT4 best for?
- What is the best MetaTrader broker for low-cost trading?
- What are the best MT 4 brokers for copy trading?
- What indicators do MT 5 offer?
Best MetaTrader 4 broker for beginners:
Here is a list of the best metatrader broker for beginners, including a brief overview of each broker and their key features.
- ActivTrades – Best MT5 Broker for Beginners [1]: ActivTrades is a popular MetaTrader 5 broker that offers low trading fees, fast account opening, and excellent customer service.
- IC Markets – Low Fees: IC Markets is one of the best MetaTrader broker for low fees, offering competitive spreads and low commissions.
- Fusion Markets – Decent Customer Service: Fusion Markets is the best forex broker for MetaTrader & customer service. It offers great customer support and a variety of trading tools and features.
- Oanda – Great for Beginners: offering a variety of educational materials and a user-friendly trading platform.
- Pepperstone – Best for Advanced Traders: Pepperstone is the best forex brokers for MetaTrader for advanced traders. It offers a range of advanced features and tools, as well as competitive spreads and fast execution.
MetaTrader is a popular trading platform that is used by traders all over the world. Developed by MetaQuotes software, it offers advanced trading tools and features that allow traders to execute trades, analyze the markets, and automate their forex trading strategies for beginners.
MetaTrader 4 (MT4) and MetaTrader (MT5) are the two main versions of the platform, both of which are widely used by traders of all levels. Choosing a broker that supports MetaTrader is important for traders because it allows you to learn how to use advanced charting tools and features that can help them to be more successful in their trading.
MetaTrader Platforms Comparison
| Platform | Virtual Trading (Demo) | Proprietary Platform | Desktop Platform (Windows) | Web Platform | Social Trading / Copy Trading | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) | DupliTrade | ZuluTrade | Charting – Indicators / Studies |
|---|---|---|---|---|---|---|---|---|---|---|
| Pepperstone MT4 Platform | Yes | No | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| OANDA | Yes | Yes | Yes | Yes | No | No | Yes | No | No | Yes |
| FXCM Metatrader | Yes | Yes | Yes | Yes | No | No | Yes | No | No | Yes |
| Forex.com | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes |
| IG Trading Platform | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No | Yes |
| TradingView | Yes | No | No | No | No | No | No | No | No | Yes |
| MetaTrader | Yes | No | Yes | Yes | No | Yes | No | No | No | Yes |
| OctaFX | Yes | No | Yes | Yes | No | Yes | No | No | No | Yes |
| XM Online Trading | Yes | No | Yes | Yes | No | Yes | Yes | No | No | Yes |
| IC Markets Software | Yes | No | Yes | Yes | No | Yes | Yes | No | No |
14 Forex Brokers list Offer MT4:
Experienced traders use MetaTrader 4 to trade forex because it is one of the most popular and widely used trading platforms on the market. MT4 is known for its user-friendly interface, advanced charting and technical analysis tools, and its integrated Expert Advisors, which allow traders to automate their trading strategies. Additionally, MT4 is highly customizable, allowing traders to tailor the platform to their own individual trading needs. Finally, MT4 is available for use on mobile devices, making it easy for traders to access the platform on the go.
Here is a broker list of MT4 Forex companies for experienced traders:
- FXCM
- Oanda
- IG
- XM
- FxPro
- AvaTrade Trading Platform
- Pepperstone UK
- Plus500
- eToro Social Trading
- EasyMarkets
- Forex.com
- Admiral Markets
- Swissquote
- ThinkMarkets
Advantages of MT4 Trading Platforms:
The MetaTrader platform is one of the most popular and widely used trading platforms in the world. It has a wide range of advantages that make it an ideal choice for traders of all levels.
First and foremost, the MetaTrader platform is incredibly user-friendly and intuitive. The platform has an easy-to-use interface that allows users to quickly get up and running. Additionally, the platform includes a wide range of features and tools, such as charts, technical indicators, and automated trading strategies, to help traders make informed decisions.
The MetaTrader platform also provides a wide range of tools and resources to help traders manage their accounts. These include customizable account settings, trading limit settings, risk management tools, and a virtual private server (VPS) to ensure uninterrupted trading.
In addition, the MetaTrader platform is highly secure and reliable, with a range of security measures, such as two-factor authentication, to ensure the safety of user data and funds. The platform also offers a range of account types, such as demo accounts, micro account forex, and standard accounts, to meet the needs of different traders.
Features of MT4 Platforms:
One of the most important features of metatrader brokers is the trading platform itself. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the two main versions of the platform, both of which are widely used by traders of all levels. These platforms offer a wide range of tools and features for traders to execute trades, analyze the markets, and automate their trading strategies.
Metatrader brokers offer a wide range of features that can be beneficial for traders. These features can vary depending on the specific broker, but some of the most common include fast execution model, Variety of technical analysis and charting tools, hedging and more.
Execution Model
Another important feature of MetaTrader brokers is the execution model they use. Regulated broker uses market execution, which allows traders to execute trades at the current market price, while others use instant execution, which allows traders to execute trades at a specific price. Most of the best Canadian forex brokers as well as US forex brokers offer fast execution time to trade currencies.
Technical Analysis
Metatrader brokers typically offer a wide range of technical analysis tools, including indicators and chart types. This allows traders to analyze the markets and make informed trading decisions.
Automated Trading
A metatrader broker also offers automated trading features, such as expert advisors (EAs) and scripts. These tools allow traders to automate their trading strategies and take advantage of market conditions even when they are not able to actively monitor their trades.
Hedging
Delta Hedging strategy is one of the hedging strategies to offset the risk of their trades by taking an opposing position in the market. Many metatrader platform allow traders to hedge their trades, which can be beneficial for managing CFD trading risks.
One-Click Trading
One-click trading is a feature that allows traders to execute trades with just one click. This can be beneficial for traders who need to quickly enter or exit trades.
Depth of Market (DOM)
The Depth of Market (DOM) is a feature that displays the number of buy and sell orders for a particular instrument at different prices. This information can be helpful for traders to make informed decisions about their trades.
Order Types
Metatrader platforms typically offer a wide range of order types, including market, stop, limit, take profit, and stop loss orders. This allows traders to customize their trades and take advantage of different market conditions.
Trading Volume
Many MT4 Platforms brokers have a limit on the trading volume, this can be important for traders who need to trade large volumes.
Execution time in MT4 Vs other Online Platforms:
Execution time is an important factor for traders when choosing a trading platform, as it can have a significant impact on the success of their trades. MetaTrader 4 (MT4) is known for its fast execution time, which allows traders to quickly enter and exit trades. This is particularly important for traders who use scalping or high-frequency trading strategies, as it allows them to take advantage of short-term market movements.
When compared to other trading platforms, MetaTrader 4 has a reputation for having some of the fastest execution times. This is due to its advanced trading engine, which is optimized for speed and efficiency. Additionally, many MT4 brokers use advanced technology such as fiber-optic connections and low-latency servers to further speed up trade execution.
| Platform | Execution Time | Broker Support | User interface |
|---|---|---|---|
| MetaTrader 4 (MT4) | Fast | Widely supported | Familiar, customizable |
| cTrader | Fast | Limited support | User-friendly, customizable |
| NinjaTrader | Fast | Limited support | Advanced, customizable |
| ProRealTime | Fast | Limited support | Advanced, customizable |
| Other platforms | Varies | Varies | Varies |
In comparison, other platforms such as cTrader, NinjaTrader or ProRealTime, also have fast execution time, but not all providers support them and the user interface and tools may be different.
Trading Instruments:
MetaTrader brokers typically offer a range of trading instruments [1], such as forex, indices, commodities and cryptocurrencies and let you compare major currency pairs. The exact list of instruments available will depend on the broker, but some of the most common instruments offered include major and minor currency pairs, gold, silver, oil, and indices such as the S&P 500, Dow Jones, and NASDAQ. Additionally, some brokers may offer additional instruments such as CFDs and options.
Here is a comprehensive list of trading instruments available on MetaTrader brokers:
- Forex: EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF, NZD/USD, USD/CAD, EUR/GBP, EUR/JPY, GBP/JPY, EUR/CHF, AUD/JPY, GBP/CHF, AUD/NZD, CAD/JPY, AUD/CAD, EUR/AUD, GBP/AUD, CHF/JPY, NZD/JPY
- Commodities: Gold, Silver, Oil, Natural Gas
- Indices: S&P 500, NASDAQ, Dow Jones, FTSE 100, DAX, CAC 40, Nikkei 225
- Stocks: Apple, Microsoft, Tesla, Alphabet, Facebook, Amazon, Alibaba, Twitter, Coca-Cola, Nike, Intel, McDonald’s
Minimum Deposit, Fees & Commissions:
Metatrader dealers typically charge fees and commissions for their services in order to make a profit, and these fees and commissions can vary depending on the broker and the type of trading you are doing.
The most common type of fee charged by MT4 platforms is a commission, which is a charge for each order placed. This fee is usually based on the size of the order, so larger orders will incur higher commissions. There are also brokers that charge zero commissions and these brokers offer commission free trading on certain conditions.
In addition to commissions, some trading sites also charge fees for other services. These can include fees for account maintenance, for using special features, or for using certain types of orders, as well as deposit and withdrawal fees. This is a list of most fees charged by best forex brokers with MT4:
- Trading fees: Most platforms charge a commission per trade or a flat fee.
- Platform fees: Some may charge a fee for using their trading platform.
- Deposit and withdrawal fees: Some companies charge a fee for depositing and withdrawing funds.
- Overnight fees: A broker can charge an additional fee for keeping a position overnight.
- Inactivity fees: Your brokers may charge a fee for inactivity.
- Currency conversion fees: An FX broker may charge a fee for converting currencies.
Here is a table of minimum deposit, fees and commissions for top 10 best MetaTrader broker:
| Broker | Minimum Deposit | Commission | Fees |
|---|---|---|---|
| Forex.com | $100 | 0.2 pips | $50 monthly inactivity fee |
| Axi Online Trading Fees | $0 | 0.35 pips | No inactivity fee |
| Pepperstone | $200 | 0.0 pips | No inactivity fee |
| FXCM | $50 | 0.2 pips | $15 monthly inactivity fee |
| Oanda | $0 | 0.05 pips | No inactivity fee |
MT4 Trading Accounts:
MT4 trading account is an account opened with a broker that allows traders to use the MetaTrader 4 (MT4) platform to trade financial assets such as currencies, stocks, futures, and options.
You can use a regular trading account on MetaTrader 4 (MT4). This type of account allows you to trade in real time and access a wide range of markets, in collaboration with Direct Market Access Providers, including forex, indices, commodities, stocks, and more. With MT4, you will also be able to access a range of advanced trading features, such as automated trading using the best robo advisors and technical analysis tools that are compatible with variety of forex expert advisors, which can help you make better trading decisions.
What is the Best broker for MetaTrader?
According to reviews and our user feedback, the best broker for MetaTrader is AvaTrade desktop platform and Fusion Markets. They offer a full suite of MetaTrader tools, including MetaTrader 4 and 5, and are highly competitive in pricing. Other top brokers for MetaTrader include IC Markets, Pepperstone, FOREX.com, IG us llc Markets, and HFM.
Are there any Good MetaTrader brokers for beginners?
Yes, there are some MetaTrader brokers that are particularly well-suited for beginners. AvaTrade, FxPro, and U.K. based broker like Plus500 and eToro are all great options for beginner traders. These are listed as the best forex broker and have user-friendly trading platforms and a wide array of educational resources to help beginners learn the basics of Forex trading. Additionally, many of these brokers MetaTrader offer lower spreads and leverage, which can help beginners minimize the risks associated with forex trading.
How to use Metatrader for Forex Trading?
The Metatrader platform is downloadable. It is available both as a web-based platform and as a mobile app that can be downloaded from the Google Play store, the Apple App store, and other online sources.
MT4 is a popular Forex trading platform that is available on both desktop and mobile devices [1]. It is designed to be easy to use and highly customizable, allowing traders to tailor their trading experience to their individual needs. The MT4 platform is used by traders of all levels, from beginners to experienced professionals, and is available for both Android and iOS devices.
What are the key features of MT 4 & MT 5?
This table serves as a general comparison and may vary depending on the specific broker. It is important to check the features offered by your CFD trading Platforms or any compare online trading platforms that offer MT4 or 5:
| Feature | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
|---|---|---|
| Trading instruments | Forex | Forex, CFDs Vs Stocks, Futures |
| Execution model | Market Execution | Market Execution, Instant Execution |
| Technical analysis | 30 indicators, 4 chart types | 38 indicators, 21 timeframes, 6 chart types |
| Automated trading | EAs and scripts | EAs, scripts, and copy trading |
| Hedging | Allowed | Allowed |
| One-click trading | Available | Available |
| Depth of Market (DOM) | Not available | Available |
| Order types | Market, stop, limit, take profit, stop loss | Market, stop, limit, take profit, stop loss, pending orders |
| Trading volume | Limited to 2,000 lots | Unlimited |
What is the difference between MT4 Vs MT 5?
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both popular online trading platforms developed by MetaQuotes Software. MT4 has been around since 2005 and is still the most popular forex trading platform worldwide, while MT5 was released in 2010 and is gaining in popularity.
The primary differences between the two platforms are in terms of the currency trading instruments they offer, the order types they support, the programming languages they use, and the tools they provide.
MT4 offers a wide range of online trading instruments, including Forex, CFDs, stocks, and futures. It also supports market, limit, stop, and OCO orders. It uses the MQL4 programming language and provides multiple charting tools and technical indicators for traders.
MT5, on the other hand, offers a wider range of e-trading instruments, including stocks, futures, options, and CFDs. It supports pending, stop, limit, and trailing stop orders as well as hedging. It uses the MQL5 programming language and offers a wider range of charting tools and technical indicators.
What Meta Trader Platform offer advanced charting and backtesting capabilities?
There are several Meta Trader brokers that offer advanced charting and backtesting capabilities. These include TD Ameritrade, NinjaTrader, MotiveWave, OANDA Trade, and Traders’ Hub. These brokers offer a range of features, such as advanced order types, automated trading, and backtesting capabilities. Each broker may have slightly different offerings, so make sure to check out their individual websites for more information.
What is MT4 best for?
MetaTrader 4 is best for forex trading and is the most widely used trading platform for the forex market. It offers a wide range of features and functions designed to help traders take advantage of the dynamic forex markets. It is especially useful for traders looking to take advantage of or learn automated trading strategies, as it is compatible with best Expert Advisors (EA) and scripts. Additionally, MetaTrader 4 is also useful for traders who want to analyze the market, as it offers a wide range of powerful charting and analytical tools.
What is the best MetaTrader broker for low-cost trading?
The best MetaTrader 4 brokers for low-cost trading are IC Markets, Axi, and FX Blue. Fusion Markets offers low trading and non-trading fees, as well as fast and easy account opening [1]. IC Markets also offers low forex fees and an easy and straightforward account opening process. Axi offers a demo account valid for 30 days that traders can use to practice trading before going live. Finally, FX Blue offers a range of premium MT4 add-ons and trading tools.
What are the best MT 4 brokers for copy trading?
Some of the top Metatrader 4 brokers for copy trading include eToro, AvaTrade, B2Broker, ZuluTrade, Forex Copier, Duplitrade, FBS, FXTM, Duplikium, and Saxo Bank. These brokers offer a range of features and services that allow users to copy the trades of more experienced traders, enabling them to get up to speed quickly and develop their own strategies. Each broker offers different features and services, so it is important to compare them to find the one that best suits your needs.
What indicators do MT 5 offer?
MetaTrader 5 offers 38 built-in technical indicators [1], including: Exponential Moving Average (EMA), Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), Average Directional Index (ADX), Stochastic Oscillator, Ichimoku Kinko Hyo, Bollinger Bands, Parabolic SAR, and many more. These indicators can be used to identify trends, predict future price movements, and analyze the strength of a trend. Additionally, MT5 also allows traders to create their own custom indicators and trading strategies.