Best MT4 Forex brokers

MT4 Forex BrokersMetaTrader 4 Forex Brokers is the standard of brokerage business in the world. Most Forex brokers use it as their primary software. It is also a favorite among tens of million traders. Such widespread popularity is due to its intuitive interface that provides easy navigation. It is suitable for both newbies and experts. MetaTrader 4 offers advanced technical analysis features, algorithmic trading, Experts Advisors, and a customizable trading system.

The trading platform has three integral parts: market, trading signals and mobile trading app. The Market option provides several technical indicators and robots (EAs) that traders purchase to improve their trading experience. The trading signals allow traders to copy what others are doing.

It is currently the most readily available in the Forex industry. There are versions for PC operating systems such as Windows, Mac, and Linux. Mobile apps are also available for iOS and Android devices. Unfortunately, it does not have a web-based platform for understandable reasons, security being one of them. You can easily find a list of some of the top MT4 Forex brokers who support MetaTrader4 platforms in the table below.

  • Key information
  • Trading
  • Payment systems
  • Trading platforms
  • Trading instruments
  • Support
  • Trading accounts
  • Account settings
  • Spreads
  • Promotion
Filter
Company #LogoForex brokerFoundedRegulatedReviewsPayment systemsBroker type(?)Min. DepositMax.
leverage
Live spread
Interval:
Live
spread
EUR/USD
Live spread
Interval:
Live
spread
GBP/USD
Live spread
Interval:
Live
spread
USD/CHF
Live spread
Interval:
Live
spread
USD/CAD
Live spread
Interval:
Live
spread
USD/JPY
Live spread
Interval:
Live
spread
AUD/USD
Live spread
Interval:
Live
spread
NZD/USD
Live spread
Interval:
Live
spread
EUR/AUD
Live spread
Interval:
Live
spread
EUR/CAD
Live spread
Interval:
Live
spread
EUR/CHF
Deposit bonusAccount
XM.COM1XM.COMbest broker2009
ASIC, FCA

Regulated

23

Payment systems

ECN, STP

Broker type

  • ECN
  • STP
  • MM
5 $1:888N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A100 %
XTB.com2XTB.com2002
FCA, CNMV
0

Payment systems

NDD, STP
250 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Forex.com3Forex.com2001
ASIC, SFC
1

Payment systems

ECN, MM
0 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
RoboMarkets4RoboMarkets2012
CySEC
0

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
  • MM
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
EXNESS5EXNESS2008
FCA, CySEC
17

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
  • MM
0 $1:2000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
HYCM6HYCM1977
FCA
11

Payment systems

MM
100 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A25 %
Forex4you7Forex4you2007
FSC
14

Payment systems

NDD, STP
20 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
JustForex8JustForex2012
IFSC
3

Payment systems

ECN, STP
0 $-N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A100 %From now on, clients of JustForex can increase their deposit with the help of Double benefit bonus. Deposit your account with at least 100 USD and double your opportunities for trading!
NordFX9NordFX2008
SEBI, CySEC

Regulated

9

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
10 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A100 %
FxPro10FxPro2006
FCA, CySEC

Regulated

32

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
IG11IG1974
ASIC, FCA
4

Payment systems

DMA, MM
0 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
FBS12FBS2009
IFSC, NAFD
2

Payment systems

ECN, STP
1 $-N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
FXCM13FXCM1999
ASIC, FCA
6

Payment systems

NDD
0 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
FXTM14FXTM2010
IFSC, SEBI

Regulated

13

Payment systems

NDD, ECN
5 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Swissquote15Swissquote1996
FINMA
4

Payment systems

STP
1000 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
AVATrade16AVATrade2006
ASIC, CBI

Regulated

7

Payment systems

NDD
100 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Admiral Markets17Admiral Markets2001
FCA, CNMV
8

Payment systems

NDD, ECN
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
FIBO Group18FIBO Group1998
FSC, CNMV
9

Payment systems

NDD, MM
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Weltrade19Weltrade2006
IFSC
1

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
25 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Instaforex20Instaforex2007
RAUFR
10

Payment systems

-1 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A30 %
Alpari21Alpari1998
IFSC, CBR
10

Payment systems

ECN
0 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A100 %
Markets.com22Markets.com2006
CySEC
2

Payment systems

NDD
100 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
FXOpen23FXOpen2005
ASIC, FCA
3

Payment systems

ECN, STP

Broker type

  • ECN
  • STP
  • MM
1 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
AMarkets24AMarkets2007
Financial Commission, FSA
1

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
0 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A20 %

В акции участвует каждое пополнение торгового счета на сумму от 300 USD. Количество пополнений счета не ограничено. После пополнения обратитесь к персональному менеджеру для активации бонуса.

Blackwell Global25Blackwell Global2010
FCA
2

Payment systems

NDD, STP
500 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
IFC Markets26IFC Markets2006
FSC, CySEC
2

Payment systems

STP
0 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
HotForex27HotForex2010
CySEC, FSC
5

Payment systems

NDD
5 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
FXDD28FXDD2002
MFSA
1

Payment systems

NDD, ECN
250 $1:50N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
OANDA29OANDA1996
ASIC, FCA
3

Payment systems

-0 $1:100N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
ActivTrades30ActivTrades2001
FCA, CNMV
6

Payment systems

NDD
100 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
LiteForex31LiteForex2005
CySEC
9

Payment systems

ECN
10 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A100 %Bonus CRYPTO 100%
Atom832Atom82013
FCA
2
NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
  • DMA
5000 $-N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
EasyMarkets33EasyMarkets2001
ASIC, CySEC
2

Payment systems

MM
100 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Trade1234Trade122014-20

Payment systems

NDD
250 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
24option3524option2010
CySEC
1

Payment systems

-1 $-N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Orbex36Orbex2010
CySEC
2

Payment systems

ECN
500 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
GKFX37GKFX20092

Payment systems

ECN, STP
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Hantec Markets38Hantec Markets2009
FCA
0

Payment systems

NDD
1000 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
PhillipCapital UK39PhillipCapital UK1975
ASIC, FCA
0
NDD
200 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
ICM Capital40ICM Capital2009
FCA
0

Payment systems

-200 $1:200N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
LMFX41LMFX2015-3

Payment systems

NDD
50 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A100 %

Кредитный бонус предназначен для увеличения объема торгов на счетах клиента. Если все требования этой программы торгового бонуса выполнены, сумма бонуса, размещенная на вашем счете, может быть снята.

Octa FX42Octa FX2011
FCA, FSA
1

Payment systems

ECN
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A50 %Deposit bonus can only be credited to a verified account. Deposit bonuses can only be credited to any MT4 | MT5 account.
TryMarkets43TryMarkets2012
IFSC
0

Payment systems

STP, DMA
500 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Fort Financial Service44Fort Financial Service2010
IFSC
0

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
5 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A50 %Due to our developed system you can increase the amount of every deposit up to 50%! No doubt that more funds on your account means, more profit from trading is available for you.
ETX Capital45ETX Capital2002
FCA, CNMV
0

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
IC Markets46IC Markets2007
ASIC
4

Payment systems

NDD, ECN
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
BMFN47BMFN1988
ASIC, FCA

Regulated

1

Payment systems

NDD, DMA
0 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A20 %New or existing accounts at BMFN who enroll in the Bonus Program and make a qualifying deposit will receive a deposit bonus up to $10,000!
Core Spreads48Core Spreads2014
FCA
0

Payment systems

NDD
1 $1:240N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A50 %Open a CoreTrader account and start trading our tight, fixed spreads. After a month claim your bonus
FxGiants49FxGiants2015
FCA
0

Payment systems

ECN, STP

Broker type

  • ECN
  • STP
  • MM
50 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A20 %Увеличьте свои торговые возможности. Получите до бонус на все депозиты до 2000$
FreshForex50FreshForex2004
KROUFR
7

Payment systems

NDD, MM
0 $1:1000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Forex Club51Forex Club1997
CySEC, CBR
1

Payment systems

NDD, STP
0 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Umarkets52Umarkets2014
IFSC
13

Payment systems

ECN, STP
500 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
AAFX Trading53AAFX Trading2014
ASIC, FSA
3

Payment systems

NDD, ECN
100 $1:2000N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A30 %As a warm welcome to our newest traders, we are offering a 30% bonus on top of your initial deposit into your first AAFX live account.
GO Markets54GO Markets2006
ASIC
0

Payment systems

NDD
200 $1:300N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Forex.ee55Forex.ee2004
FSA
0

Payment systems

NDD, ECN

Broker type

  • NDD
  • ECN
  • STP
10 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Tickmill56Tickmill2014
FCA, SIBA
0

Payment systems

NDD
25 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Yadix.com57Yadix.com2010
FSC
1

Payment systems

ECN, STP
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A50 %Get a 50% Cash Bonus up to $10,000 on your first deposit. Cash bonuses are credited to your balance after the requirements are met.
City Index58City Index2001
FCA
0

Payment systems

NDD, ECN
250 $1:400N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
FXPRIMUS59FXPRIMUS2009
CySEC, VFSC
0

Payment systems

STP
100 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-
Swiss Markets60Swiss Markets2012
CySEC
0

Payment systems

STP
200 $1:500N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-


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5 (1)

Features To Consider When Choosing a Forex Broker Trading Platform

Meta Trader 4 Forex Brokers

Your trading experience directly depends on the platform you are using. Most Forex brokers offer multiple platform choices to their traders. However, just because a reputable broker uses a specific platform is not a guarantee that it is suitable for your trading needs. Below are some of the factors worth considering.

· Availability

Are you planning to use a mobile device or PC? What is the operating system of the device you are using? A suitable trading platform is one that allows you to use what you have without incurring extra cost. Most of them are downloadable software that you install on your PC or apps for mobile devices. If you have neither, then you should consider a platform that is available over the web. A stable high-speed internet connection is necessary for internet-based platforms, and most of them are.

· The accuracy of Forex quotes

The last thing you will want during your trading period is not being able to monitor changes in the market in a real-time. You need to see the changes as soon as they happen. Such possibility will save you from costly re-quotes. It also enables you to observe your investment as a keenly as an eagle watches over its nest.

· Management of orders

An excellent platform will make it possible for you to enter all the type of orders that you wish to make, including take profits and stop loses among others. Another important feature to consider in this section is the “One Cancels the Other,” OCO feature. It helps in avoiding executing two orders for the same trade.

· Freedom to manage your accounts

An ideal trading platform in the Forex allows you to keep track and control some of the critical features of your trading. It has functions that help you keep track of your account balance and monitor the changes in your portfolio on a real-time basis.

· Charting and indicators

The two are some of the most common tools for technical analysis that you will find handy when trading with Forex brokers. The levels of sophistication of these tools vary from one platform to another depending on the level of experience of the targeted niche of users. The charts should be able to update in real time irrespective of the users level of skills. Some platforms also provide support features that allow traders to trade directly using the information on the charts.

· Fundamental analysis

The functionality provides access to live news feed from trusted financial news sources such as Associated Press, Reuters, among others. Traders on platforms have these tools can know when the next significant economic news is due and plan for it.

· Security of personal information

The heightened levels of cybercrime call for caution when using a platform that operates on the internet. You should have an assurance of the safety of sensitive information such as financial information, login data, and other personal details. A suitable platform uses secure internet encryption protocols. A backup is also essential in case a hacker takes over the system and data are lost.

· Trading strategy options

The latest trading trend is the automated trading strategy. It enables traders to program their trading plans such that it triggers automatic transaction execution. It is advisable to go for a platform that allows this feature, even if you are a beginner. You will undoubtedly need in the future.

· Downtime records

Downtime is an annoying period when you can perform no transaction on the platform. It becomes a problem when it occurs during the trading hours. You can check a platforms’ downtime by checking its uptime records. It should be as close to 100% as possible. Using a Virtual Private Server, VPS also helps during downtimes on your side of the system.

After pointing out the feature that matters when selecting a trading platform, we turn to the reasons why MT4 is the most popular choice among Forex brokers.

The Benefits of Using an MT4 Forex Broker Trading PlatformBenefites of mt4

Readily available: the platform is available for both PC and mobile device users. It is compatible with the Windows, Linux and Mac a well as iOS and Android operating systems. The MT4 platform is also available is several native languages.

 

Easy to use: MetaTrader 4 has an intuitive interface that is easy to use by all traders irrespective of their experience. The mobile trading option allows you trade while on the move.

 

Excellent charting tools: MT4 platform offers advanced charting tools the enables traders to conduct a technical analysis of the market and conduct trades simultaneously. Additionally, the charts are customizable hence, easy to use and read. You can as well remove what you do not need from the chart, create templates, change colors and styles.

 

Automated Trading strategy: This time-saving feature is one of the reasons for the popularity and success of this platform. The platform provides EAs that you can use to automate your trading activities to meet your needs.

 

Profile management: It is possible for you to view your profile details on the same interface. Some of the available information includes account details, trading history, and passwords. You can create a profile for each market and arrange the charts and windows according to your personal preference.

 

High information security: Security is another reason that makes MT4 stand out in the industry despite the fact that there are other sophisticated more platforms than it. It uses a 129-bit key to encrypt user information. It salon secures the IP address of the trader. It, therefore, guarantees the security of sensitive information such as the user’s details and location.

 

Real-time communication: MT4 Forex brokers can communicate directly with their traders on the platform through messages. It eliminates the need for long emails, which you might not see in time and are often complicated.

 

Low PC performance requirement: MetaTrader 4 is not one of those performance intensive programs that take your PC’s memory. Its low computer resource requirement enables faster response to a trading request and real-time market analysis.

 

Vast choice of trading instruments: MT 4 trading platform supports a wide variety of trading instruments such as equities, securities, and commodities. It also allows trading in nearly all types of currencies.

Trader customizations: You can fully customize your MT t4 account to suit your needs as well as taste and preferences. If you have some skills in MQL4 programming, then you can develop your own EA and technical indicators. It also enjoys sizeable online community forums where you can find open source codes and help with programming issues.

How to Select the Right MT4 Forex Broker

Meta Trader 4 Features

The above benefits of the MT4 trading platform have made it a favorite among Forex trade brokers. Nearly all the Forex brokers have MT4 as one of the trading platforms. So how do you select the best broker in such a sea of options? Below are some of the essential factor s consider when hunting for a broker that uses an MT4 platform.

Type of broker

The first place to start your search is by narrowing down to a specific kind of broker. The common type is the market making brokers. They function as counter-parties to every transaction. They buy orders from traders who are selling, hold it and until they find a buyer willing to pay for the prices they have set. They are also known as dealing desk brokers.

You will not be able to access the actual market prices with these brokers, and there is always a conflict of interest. They are a good option if you plan to trade in small amounts. They also come in handy during volatile market scenarios.

The other broker types are the Non-dealing desk ones. They provide a trader with direct access to the liquidity provider and other traders. Straight Through Processing (STP) and Electronic Communication Network, ECN, is the type of brokers in this category. They may have overlapping features, but they are different in principle. A significant difference is that STPs do not have a Depth of the Market Functionality. MT4 ECN is available for ECN Forex brokers.

Compliance with relevant regulatory requirements

MT4 Forex brokers are subject to regulation. The name of these regulatory bodies and their needs vary from country to country. In the US for example, two agencies regulate the operations of Forex brokers namely: the National Futures Association, NFA, and the Commodity Futures Trading Commission. A legitimate Forex dealer will have CFTC registration and be a member of the NFA.

Dealing with duly regulated MT4 Forex brokers ensures security for your deposit. If the broker collapses, you stand to be compensated by the regulating economy. In some countries such as the UK, the government protects the amount a trader invests with any of the licensed brokers.

Account requirements

Account on MT4

The above two factors will eliminate most of the MT4 Forex brokers leaving you with legitimate ones only. You can now focus on the intricacies that make them different one from the other. The first place to look is the different account offerings and requirements. They include:

Minimum account size: Some MT4 Forex brokers require deposits as low as $50. STP and ECN brokers, however, are for high rollers and experts. The minimum deposit for this brokers ranges between $10,000 and $50,000 even if they operate on the ECN MT4 platform.

Leverage: It is an attractive feature because it enhances your chances of winning big and increases your purchasing power.  Leverage of 100:1, for example,  gives a trader with $1000 investment the purchasing power of $100,000. However, it is essential to use these cautiously as the same factor also multiplies the losses.

The mode of compensation: MT4 Forex brokers get their cut in two ways, charging commission or widening the spread. ECN brokers charge commission on each transaction since they are not participants but only facilitators. Market makers, on the other hand, make money on the spreads. None of the options is outrightly better than the other. The commission-based brokers charge highly while market makers always price the spread to protect their bottom-line, not that of the traders.

Commodity and currency

Even though MT4 platform allows for several choices of trading instruments as well as currencies, the interest of traders vary. One may choose to deal with a specific pair of commodities while another prefers currencies. In the end, the broker you settle for should be offering your instruments of interest.

Customer service

Though the last on this list, it is the most important. You need to be sure that you can get help promptly when you need it. A worthy MT4 Forex broker will employ real people to handle its customers. You can get a glimpse into the dealer’s customer service by calling them and asking questions on features such as the account requirement details and trade volume.

Conclusion

You can start your Forex trading by using the most widely used platform, the MetaTrader 4. IT has sufficient information and community support than most of the new platforms. You will join a community of tens of million traders. Only ensure you choose a licensed, reliable, and reputable MT4 Forex broker that suits your trading needs.