Best MetaTrader 4 (MT4) Brokers

MetaTrader 4 (MT4) is one of the most widely used and versatile trading platforms developed by MetaQuotes. Based on the MetaQuotes Trading platform that was released in 2000, MetaTrader 4 has become the most popular trading platform for the online forex trading community because of its excellent automating abilities. 

In this article, we've reviewed and rated the best brokers that support the MetaTrader 4 platform, so if you are looking for a top MetaTrader 4 broker to enhance and facilitate your online trading activities, keep reading.

Quick Look: Best MT4 Brokers

• Best Overall for US Traders: FOREX.com
• Best for CFD Trading: Vantage Markets
• Best for Algo Traders Using MetaTrader: FxPro
• Best for Futures Traders: Tickmill
• Best for High Volume Traders: tastyfx
• Best for MetaTrader Suit with Add Ons: Pepperstone

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Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% to 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. The products and services available to you at FOREX.com will depend on your location and on which of its regulated entities holds your account

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Best MetaTrader 4 Brokers

The brokers selected for this article make up a list of some of the top brokers in the MetaTrader forex broker community for various reasons. Here's how their MT4 platforms stack up.   

1. Best Overall and for U.S.-Based Traders: FOREX.com

FOREX.com has been providing traders with solid forex executions since 2001 and lets you choose from more than 80 forex currency pairs. Depending on the account type selected, spreads at this broker can run as low as 0.0 pips, although some accounts charge commissions.

Why We Picked It: Forex trades in major currency pairs can be leveraged 50:1 when trading via MetaTrader 4 and MetaTrader 5 and via the broker’s proprietary Web Trader platform. In addition to having access to a wide variety of Expert Advisor (EA) software including automated trading system programs for MetaTrader 4, FOREX.com also offers algorithmic trading for qualifying traders. 

Special MT4 Features:

• A suite of more than 20 apps offering professional-grade control and flexibility
• 9 EAs, including Sentiment Trader
• Automated strategies customized to your specifications
• Integrated Reuters news on MT4 platform
• Build your own algorithms
• Over 950 trading robots and 2,000 technical indicators in the MetaTrader Market

2. Best for CFD Trading: Vantage Markets

Vantage Markets is a versatile online broker offering access to over 1,000 CFD trading products. Vantage also offers educational resources through its Vantage Academy, where traders can access webinars, eBooks, and courses to deepen their market knowledge. Additionally, the platform provides promotional incentives, such as deposit bonuses and loyalty rewards, to enhance the trading experience for its users.

Why We Picked It: Vantage Markets offers a robust tradiVantage enhances MT4 with their smart trader tools package, offering features like dynamic alerts, one-click trading, and correlation matrices. To access these tools, traders need to open a Vantage account with a minimum deposit of $1,000 and opt-in via the client portal.

Special MT4 Features:

• Advanced charting tools
• Expert advisors (EAs)
• Trading signals
• Smart trader tools package
• Ability to trade CFDs and forex

3. Best for Algo Traders Using MetaTrader: FxPro

FxPro offers traders access to the forex and contracts for difference (CFD) market using MT4 and MT5 (along with other platforms). When you use FxPro, you can trade in forex, metals, indices, shares and cryptocurrencies. There are 8 base currencies, no commissions, tight spreads, no account or transaction fees and only an inactivity fee that kicks in if you don’t use the account for 6 months.

Why We Picked It: FxPro allows you to enhance your trading with a premium suite of technical analysis indicators from Trading Central. The platform helps identify trading opportunities, optimize your entry and exit timings, and gain immediate insights into Trading Central’s preferred direction, target levels, and alternative scenarios based on support and pivot lines.

Special MT4 Features:

• 30 Technical indicators and 23 analytical objects
• 9 Time frames ranging from one minute to one month
• 3 Chart types including Bar Charts, Japanese Candlestick Charts and Line Charts
• The MT4 platform includes a strategy tester, enabling you to backtest and optimize your Expert Advisors using historical price data
• 50+ preinstalled technical indicators, 24 analytical charting tools, 1-click trading & trade from charts

4. Best for Futures Traders: Tickmill

If you trade in the commodities markets and want to use futures contracts, then you really should check out Tickmill. Founded in 2014, U.K.-based Tickmill Group currently has over 550,000 registered accounts and has oversight by 5 regulators, including the FCA, CySEC, FSB, Labuan FSA and FSA. 

Why We Picked It: In addition to trading futures via the Tickmill platform, you can trade CFDs on forex, stock indices, commodities and bonds via the MetaTrader 4 platform. MetaTrader 4 is available in 39 languages and provides advanced technical analysis with over 50 indicators, as well as support for algorithmic trading. 

Special MT4 Features:

• Real-time quotes in Market Watch
• Customizable price charts and multiple time frames
• Direct access through an all-modern browser
• Complete trading history
• 30+ Indicators
• Securely encrypted data transmission

5. Best for High Volume Traders: tastyfx

Founded in 1974, IG Group serves over 313,000 clients worldwide. In 2019, IG introduced its premium FX service to the US market, providing informed and adventurous traders with access to over 80 currency pairs at competitive rates. In 2024 IG U.S. rebranded to tastyfx to better serve its dedicated forex traders.

Why We Picked It: tastyfx's MT4 platform offers a robust trading experience with exclusive features designed for serious traders. Highlights include customizable charts, 18 advanced technical indicators, and the ability to automate trading through Expert Advisors. Traders also benefit from free access to an MT4 VPS, provided they meet the minimum balance requirements. With competitive spreads starting from 0.8 pips on major forex pairs, tastyfx aims to provide fast execution and tight pricing.

Special MT4 Features:

• Customizable charts with 18 advanced technical indicators
• Automated trading capabilities using Expert Advisors (EAs)
• Free MT4 Virtual Private Server (VPS) for qualifying accounts
• Competitive spreads starting from 0.8 pips on major forex pairs
• Suitable for desktop and mobile trading

6. Best for MetaTrader Suit with Add Ons: Pepperstone

Pepperstone is user-friendly and offers advanced trading tools like algorithmic trading, Autochartist, and API trading. Their efficient and responsive customer support, along with extensive educational resources, helps you enhance your trading skills.

Why We Picked It: Pepperstone’s dual offering of MetaTrader and cTrader is ideal for algorithmic and copy traders. The wide array of third-party tools and plugins further enhances its already impressive suite of platforms. You'll also enjoy low fees and competitive spreads on popular forex pairs.

Special MT4 Features:

• Customize MT4 to the way you trade
• Access 28 indicators and EAs with our Smart Trader Tools
• Identify high probability trades with Autochartist
• MT4 Signals allows you to automatically copy trading operations in real time
• Build and run your expert advisors using MQL4

What is MetaTrader 4?

MetaTrader 4 (MT4) is an electronic trading platform designed primarily for forex and CFD trading. Developed by MetaQuotes Software Corp., the free software boasts advanced technical analysis tools, customizable interfaces and automated trading via EAs developed using the MQL4 programming language that allows for strategy testing and implementation based on predefined rules. 

Key additional features of MT4 include advanced charting with numerous indicators, various order types and one-click trading from charts. In addition to desktop client and web options, MT4 also supports mobile device integration, secure client-server communications and seamless connection with most online forex brokers. 

MT4’s large user base contributes to comprehensive community support, which includes social trading and readily accessible tutorials, guides and other resources. Overall, MetaTrader 4 has proven itself as a versatile, powerful and reliable toolset tailored to meet the diverse needs of online retail traders.

Factors to Consider When Choosing a MetaTrader 4 Broker 

When picking an MT4 broker, you will want to look into some important factors to ensure you have a good trading experience and avoid major issues. In general, you will want to check out three main factors for any broker you are considering trading through:

• If they're regulated and licensed: When an online broker has reputable regulatory oversight, it should provide greater confidence in dealing with it. Attentive customer care will also often help improve your trading experience.
• What kind of fees they charge: Competitive pricing, including tight dealing spreads and zero or modest commissions, can also contribute significantly to your overall profitability, especially if you trade actively.
• The variety of investments they offer: Having access to a wide array of tradable assets will facilitate using more diverse trading strategies.  

Doing research in these three areas will improve your chances of success in finding an MT4 broker that meets your needs and keeps your funds safe.

MetaTrader 4 vs. MetaTrader 5

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both leading online trading platforms created by MetaQuotes Software Corporation. Although comparable in many ways, the older MT4 platform offers a more mature infrastructure and an extensive range of EA add-ons written in MQL4 by third parties, although its focus is mainly on currency and CFD trading.

In contrast, the newer MT5 incorporates multiple asset classes, including equities. It also offers a different but enhanced programming language (MQL5 instead of MQL4), as well as boosted technical indicators, extended timeframes, deeper market insights and hedging capability. U.S. traders can use this updated platform with popular brokers like FOREX.com. 

Choosing between MT4 or MT5 essentially hinges on your individual priorities as a trader, taking into account desired assets, whether your preferred EA is written in MQL4 or 5, local limitations, and your proficiency level and preferences. In any case, each platform is popular and worth checking out.

Frequently Asked Questions