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The post Best MetaTrader 4 (MT4) Brokers by Jay and Julie Hawk appeared first on Benzinga. Visit Benzinga to get more great content like this.
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.
If MT4 is your go-to trading platform, choosing a forex broker that supports it is a must, but simply offering MT4 isn’t enough. The best MT4 brokers go beyond basic compatibility, delivering strong execution, tight spreads, reliable customer support, and added features that enhance the trading experience. Finding a broker that pairs MT4 with competitive pricing, trustworthy regulation, and helpful tools can make a significant difference in your long-term success. Here are our top picks.
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Best MetaTrader 4 Brokers
Here’s is an overview of some of the best forex brokers who offer the MT4 trading platform and how they compare.
Best for CFD Trading: Vantage Markets
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Established in 2009, Vantage is a CFD broker with over 15 years in the industry and is trusted by 5,000,000+ traders. Vantage Markets is an excellent choice for both beginner and seasoned traders, offering features tailored to diverse needs. With a low $50 minimum deposit, no account maintenance fees, and access to over 1,000 tradable instruments, it appeals to those seeking affordability and variety. Advanced tools like MetaTrader 4 and 5, TradingView, and proprietary platforms cater to professional traders, while copy trading and educational resources support beginners. Negative balance protection and segregated accounts ensure enhanced security.
Best For
- Professional investors in need of an all-in-one broker
- Those who are keen to learn more with free trading education resources
- Intermediate and advanced traders with a small amount of capital
- Spreads from 0.0 pips on FX, no overnight fees, and $0 commission on US shares
- 1,000+ CFDs on forex, indices, commodities, shares, ETFs, and bonds to diversify your portfolio
- Leverage options vary from 100:1 to 1000:1, tailored to the regulatory requirements of each region
- Trade like professionals at a low cost with our copy trading tool
- One-click trading, comprehensive TradingView charts, expert market analysis, and real-time price alerts all within the same platform
- Free articles, interactive courses, educational videos, podcasts, and webinars, covering everything from how the markets work, to complex technical strategies
- Real-time market analysis and insights
- Intuitive mobile app with extensive functionality
- Negative balance protection
- 24/7 customer service is ideal for international account holders
- Convenient and seamless deposit and withdrawal process
- ASIC, FSCA, the FCS and VFSC regulations
- Funds withdrawal: 2-5 business days
- Promotional Campaign: Gain an extra 50% on your deposit or up to 100% when you make your first-time deposit to a Perpetual Account
- Product range could be increased
Why We Picked It: Vantage enhances MT4 with its smart trader tools package, offering features like dynamic alerts, one-click trading, and correlation matrices. Its stringent security measures and regulatory compliance reinforce trust, ensuring a safe trading environment. Vantage delivers a well-rounded platform that blends innovation, accessibility, and top-tier trading conditions.
Key Features:
- Minimum deposit: Starting at $50
- Active promotions: New clients can receive a 50% bonus on their first deposit, up to $500, and a 10% bonus on subsequent deposits. Existing clients can earn up to $100 for each friend they refer who opens a live account.
- Forex pairs: 40+
Overview: Vantage Markets is a versatile broker offering over 1,000 CFD trading products. It offers both MT4 and MT5 to non-U.S. traders and exclusive market insights. It also provides educational resources through its Vantage Academy, where traders can access webinars, eBooks, and courses to deepen their market knowledge. Additionally, the platform offers promotional incentives, such as deposit bonuses and loyalty rewards, to enhance its users’ trading experience.
Best Offerings for U.S.-Based Traders: FOREX.com
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This is an independent review and has not been influenced by the broker. FOREX.com has only provided general information about its services and offerings to ensure factual accuracy. All opinions expressed in this review are solely those of the reviewer.
The products and services available to you will depend on your country of residence and the FOREX.com entity that holds your account, as well as any as well as any applicable regulatory guidelines. To verify the availability of any products or features within your country of residence, please contact the broker directly
FOREX.com is a highly trusted global broker for forex and CFD traders. With a massive range of tradable currencies, low account minimums and an impressive trading platform, FOREX.com is an excellent choice for traders searching for a home base for their currency trading. New traders and seasoned veterans alike will love FOREX.com’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels.
FOREX.com is regulated by Commodity Futures Trading Commission (CFTC) and member of the National Futures Association (NFA) in the U.S. They also are regulated by the Financial Conduct Authority (FCA) in the UK among other regulators including CIRO, ASIC and more.
Best For
- MetaTrader 4 and 5 users
- Beginner forex traders
- Active forex traders
- Demo account
- Customizable charts with 14 time intervals and multiple time charts
- Up to 5% cash back of the initial deposit
- 80+ technical indicators
- Leverage available up to 50:1 for U.S. traders
- Exclusive trading tools including Trading Central, NinjaTrade and Performance Analytics
- Trade to your full capability with the mobile app
- Live market analysis, VPS hosting, IRA accounts, corporate accounts, RAW pricing
- EUR/USD spread as little as 0.0 and low commissions
- 30 indicators for technical analysis, nine timeframes and graphical objects such as Line Studies and Shapes on MT4
- Quality execution with one-swipe trading, real-time trade & order alerts and full account management features
- No negative balance protection for U.S. clients
- No guaranteed stop-loss orders for U.S. clients
Why We Picked It: We chose FOREX.com as our top MetaTrader 4 broker because it provides access to over 20 MetaTrader Expert Advisors (EAs) powered by FX Blue, giving you a solid foundation for automated strategies. The EA hosting capabilities, allow for seamless, uninterrupted trading. The platform comes equipped with integrated decision support tools and trade ideas, helping you make more informed trading decisions. On top of that, FOREX.com offers algorithmic trading for qualified traders, making it a strong choice if you’re looking to automate and optimize your trading approach.
- Minimum deposit: $100
- Active promotions: Up to 5% cashback of initial deposit for new U.S. traders; Active trader cash rebates
- Forex pairs: 80+
Overview: FOREX.com has provided traders with solid forex executions since 2001 and lets you choose from over 80 forex currency pairs. FOREX.com also is one of the only forex brokers that offers both MT4 and MT5 to U.S.-based traders. Depending on the account type, some spreads at this broker can run as low as 0.0 pips, although some accounts charge commissions.
Best for Algo Traders Using MetaTrader: FxPro
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FxPro is a reputable and well-established spread betting and contact for difference (CFD) broker offering over 2,100 assets to more than 2 million traders in 170+ countries. Established in 2006, the company draws upon over 17 years of experience to provide optimal trading conditions for beginners and seasoned traders. Its deep liquidity, low spreads, multiple advanced trading platforms, diverse tools and reliable customer support make it highly attractive. It is a No Dealing Desk (NDD) broker, meaning orders are executed with no dealing desk intervention, which makes for lightning-fast execution.
The company is regulated by multiple authorities globally, including tier 1 regulators like the Financial Conduct Authority (FCA) in the U.K. As a testament to the quality and depth of its services, FxPro has won over 105 industry awards, including Best Forex Provider by Investors Chronicle and the Financial Times. The company has sponsored the McLaren F1 team sponsorship since 2018 and the Yacht Club de Monaco since 2016. These factors demonstrate FxPro’s commitment to aligning with prestigious and high-performance entities, reflecting its dedication to excellence.
In this FxPro review, Benzinga analyzes the core features, trading conditions, platforms and overall offerings to assist you in deciding if FxPro is the right broker for you.
Best For
- Beginner traders seeking a CFD and forex broker with well-crafted courses, reliable customer service, a demo account and an intuitive and user-friendly trading platform
- Experienced traders looking for wide market access, premium research tools, competitive spreads, algorithmic trading, advanced charting platforms and multi-account management
- Day traders and scalpers can benefit immensely from FxPro’s competitive fees and fast execution, while long-term investors seeking professional financial services with flexible and convenient solutions alongside digital investment platform facilities will find its BnkPro investment service appealing
- Comprehensive analysis and trading tools, including signals powered by Trading Central and VPS hosting
- Diverse and impressive range of tradable instruments across multiple asset classes, including CFDs on commodity and index futures
- Affordable and transparent pricing — low minimum deposit, ultra-raw spread and competitive leverage, especially on major forex pairs
- Deep liquidity and ultra-fast trade execution, with most orders executed in less than 13 ms, ensuring uninterrupted market access
- Excellent educational or learning resources for beginners and seasoned traders, including well-crafted courses and video tutorials
- Multiple robust trading platforms, including MT4/MT5 (the most reputable platform for CFD trading), the highly innovative cTrader as well as the intuitive and beginner-friendly proprietary platform
- Globally reputable and trusted broker with 18 years in the industry, delivering an excellent trading experience for clients
- Responsive customer support (24/5) plus a free and readily accessible demo account for practicing short-term trading strategies
- Fast and free deposits and withdrawals
- Supports spread betting in the U.K. jurisdiction
- Licensed and regulated in four jurisdictions, including the FCA, CySEC, FSCA and SCB, enhancing trust among traders
- Inactivity fees may apply for extended periods of account inactivity
- Unavailable in the U.S.
- Might be limited fund protection depending on your account registration jurisdiction
Why We Picked It: FxPro ranks among the top MetaTrader brokers, offering multiple account types and execution methods to suit different trading styles. It features the proprietary FxPro Edge platform, currently available only on desktop, and access to the BnkPro app, though regional availability is limited. For traders looking to automate their MT4 strategies, FxPro also offers a Virtual Private Server (VPS) from BeeksFX, allowing EAs (Expert Advisors) to run 24/5 with minimal downtime and reduced latency.
Key Features:
- Minimum deposit: $100
- Active promotions: Refer a friend and you’ll both receive a $50 cash reward directly into your trading accounts.
- Forex pairs: 70+
Overview: FxPro offers traders access to the forex and CFD market using MT4 and MT5 (along with other platforms). Using 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.
Best for Futures Traders: Tickmill
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Tickmill is an award-winning, multi-regulated investment firm offering trading in a plethora of asset classes including, CFDs in forex, precious metals, indices, stocks, commodities, cryptocurrencies and bonds.
USD base rate is 2.25%, GBP is 2.00% and EUR is 2.00%.
Apart from offering various platforms, Tickmill caters to traders of all levels by providing competitive pricing, leverage up to 1:500 depending on the entity and client classification, dedicated support, exclusive market analysis and a wide array of trading tools and education. This low-spread broker offers fast execution, several payment methods and no restrictions on trading strategies such as hedging or scalping.
Futures and Options are offered with Direct Market Access across multiple globally regulated Futures exchanges including CME, CBOT, NYMEX, COMEX, EUREX, ICE Futures Europe and more. Real Futures include Stocks, Indices, Forex, Metals, Cryptos and Energies like the Micro E-Mini S&P 500, Micro E-Mini Nasdaq 100 and Micro Bitcoin Futures.
Future and Options are offered with probably the lowest fees and transparent commission structures in the industry, ultra-low latency, and seamless trading solutions for high volume trading with reliable, flawless order routing underpinned by advanced technologies.
Tickmill has become a trusted market-leading broker because of its commitment to seeking regulations in several jurisdictions. Traders have access to forex, stocks, commodities, cryptocurrency and bond markets as well as Futures and Options.
Free educational content and advanced tools are available for novice and experienced traders to help them enhance their trading strategies and achieve their trading goals.
The 20+ awards received are a testament to Tickmill’s commitment to providing optimal trading conditions for retail and institutional clients. Besides offering low spreads and fast execution, Tickmill ensures no trading restrictions, access to CFDs and occasionally runs campaigns (under Tickmill Ltd) to reward traders for their loyalty and activities.
Best For
- Forex, stocks, commodities, precious metals, bonds and crypto with competitive conditions
- Futures & Options trading with probably the lowest fees in the industry
- Retail and institutional clients
- Traders seeking various platforms and accounts
- Beginners wanting free trading tools and educational material
- Traders incorporating advanced tools and algorithm systems
- Strongly regulated broker
- Swap-free accounts available
- Enables access to various markets and asset classes
- Fast execution speed in milliseconds
- Crypto trading available 24/7 with 0 Commissions, 0 Swaps
- Deposits and withdrawals in BTC, ETH and USDT
- Free educational content
- Negative balance protection
- Mobile app available for account management
- User-friendly client area
- Free demo accounts
- Regulators: Seychelles Financial Services Authority (FSA), Financial Conduct Authority (FCA), DFSA UAE, Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA),
- Live chat is unavailable on weekends
- Simple news feeds available
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.
Key Features:
- Minimum deposit: $100
- Active promotions: $30 welcome bonus to new traders.
- Forex pairs: 60+
Overview: If you trade in the commodities markets and want to use futures contracts, you should check out Tickmill. Founded in 2014, U.K.-based Tickmill Group has over 550,000 registered accounts and is overseen by five regulators, including the FCA, CySEC, FSB, Labuan FSA, and FSA.
Best for High Volume Traders: tastyfx
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tastyfx is a forex broker that combines advanced trading tools with an easy-to-use platform. Whether you’re a seasoned trader or just starting, tastyfx has something for everyone, from competitive spreads to customizable trading strategies.The educational resources are impressive and with its transparent fee structure, tastyfx positions itself as a strong contender in the forex brokerage market.
Best For
- Beginner forex traders
- Traders seeking low spreads
- Traders who want custom strategies
- Competitive forex spreads
- Customizable trading platform and fast execution
- Comprehensive educational resources
- Highly trusted
- Funding bonus up to $10,000 (funding and trading conditions apply)
- Only supports U.S. traders
- Limited copy trading capabilities
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.
Key Features:
- Minimum deposit: $100
- Active promotions: Funding bonus up to $10,000 along with a cashback up to 15%.
- Forex pairs: 82
Overview: Founded in 1974, IG Group serves over 313,000 clients worldwide. In 2019, IG introduced its premium FX service tastyfx 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.
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.
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.
With MT4, you get a comprehensive suite of over 20 professional-grade apps that offer exceptional control and flexibility in your trading. The platform includes nine expert advisors (EAs), such as Sentiment Trader, allowing you to implement automated strategies customized to your specific needs. You can build your own algorithms and access a vast marketplace featuring over 950 trading robots and 2,000 technical indicators. Additionally, integrated Reuters news keeps you updated with real-time market insights.
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.
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.
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
Is MetaTrader 4 a broker?
No, MT4 is a trading platform developed by MetaQuotes and used to access the forex and other financial markets through a connected online broker firm.
How to add a broker to MetaTrader 4?
To add a broker to MT4, you download and install the free software. Then you search for your desired broker’s server in the platform’s server menu. Once located, enter the login credentials supplied by your broker to establish a connection between the MT4 platform and your broker so that you can start trading.
Does MetaTrader 4 cost money?
No, MT4 is generally free to download and use to monitor markets, perform analysis and test a trading strategy, although you will need to open and fund a trading account with an online broker that supports MT4 to start trading live with the platform. Also, online brokers may charge fees related to trading activities, deposits, withdrawals or inactivity in addition to their customary dealing spreads.
The post Best MetaTrader 4 (MT4) Brokers by Jay and Julie Hawk appeared first on Benzinga. Visit Benzinga to get more great content like this.
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