Best MetaTrader4 – MT4 Forex Brokers

MT4 Forex Brokers

MetaTrader4 or MT4 Forex brokers are Forex brokers which offers their clients the opportunity to trade Forex and the financial markets through the MetaTrader4, or MT4, trading platform. The MT4 platform is one of the most popular and utilized trading platforms in Forex trading to date.

Featured Forex Brokers

We decided to do all the hard work for you and guide you through the all the noise of the financial betting market. Our team of expert analysts, has created a unique collection of forex broker reviews, based on various criteria and data points for you to choose from.






Here is an overview of the Best MetaTrader4 Forex Brokers 




AvaTrade is a well-established Forex and CFD broker with multiple offices situated across the globe.  AvaTrade is one of the most regulated online brokerages in the world and boasts regulations in 6 different jurisdictions with over 200,000 clients signed up and monthly trades which exceeds 2 million.


AvaTrade has developed and offers traders their own proprietary platforms alongside the much respected MT4 trading platform for use.  AvaTrade offers 55 different Forex currency pairs and crosses, including some exotics, 17 commodity CFDs, 20 equity indices, 14 cryptocurrencies, and CFDs on 500 individual stocks and shares. AvaTrade also offers 2 bond CFDs, and 6 ETF


AvaTrade has won multiple awards for “Best Customer Support”, “Best Alert System”, “Best Financial Derivative Trading Provider”, and “Best Forex Broker Year” respectively and offer customer support in multiple channels in multiple languages.


Pros Cons
Easy and Fast account opening Only CFDs, Forex and Crypto offered
Free deposit and withdrawal options Poor phone support
No withdrawals fees Inactivity fee




XM is best known for its amazing platform which is great for both beginner and experienced traders alike.  XM offers excellent features such as auto trading, no hidden fees or commissions. Their order executions are extremely fast with 99.35% taking place in under 1 second.  XM offers beginner traders a large selection of educational resources coupled with a demo account credited with $100,00 0USD of virtual currency to learn with.


XM boasts over 1.5 million clients with traders in 196 countries and prides itself on not only their excellent customer service but also their personalised approach.  XM Clients can choose from 1000 financial instruments including Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs to trade on the MT4 or MT5 platforms. Forex trading is also available on over 55 pairs, including the major USD, GBP, EUR and JPY pairsXM does not offer binary options or futures.


Pros Cons
Great Educational tools Limited product portfolio
Easy and fast account opening Inactivity fee after 90 days
No withdrawal fees Only average Forex fees
Low minimum deposit




Alpari International


Alpari Financial Services Ltd better known as Alpari is one of the world’s leading independent forex brokers which offers traders a wide variety of account types and an outstanding customer support team – in over 30 languages.  Alpari International are a global forex and CFD broker.


Alpari offers traders both the MetaTrader 4 and MetaTrader 5 platforms with.  There are 4 possible platform versions available to choose from: iOS, Android, Desktop and WebTrader. Alpari also offers an International Direct Platform for high volume traders. A demo account and copy trading are also on offer.


Pros Cons
Low minimum deposit Limited educational resources
Best Broker for copy trading accounts Lack of resource tools
Diverse selection of tradeable assets High fees
Demo accounts and social trading available for the beginner trader Withdrawal fees
Good support in over 30 languages


FXTM (ForexTime)


FXTM is an award-winning broker which offers beginner traders a huge range of educational resources, materials and tools coupled with excellent customer service.  FXTM offers traders a range of trading platforms including which includes both Metatrader 4 and Metatrader 5.  The Metatrader 4 app is available in a format suitable for both Android and iOS devices and trading in Forex, Cryptocurrencies, CFDs, and Commodities are allowed.


Pros Cons
Great customer Service Inactivity and withdrawal fees
Strong Educational tools for the beginner trader High CFD fees
Fast account opening Limited product range


FP Markets


FP Markets is one of the largest Brokers in Australia and has won multiple awards in the industry for customer service, trader education and trade execution accordingly.  FP Markets makes use of the Metatrader 4 and 5 ecosystem and are regulated in many different countries. FP Markets also offers low spreads on Forex currency pairs and accessibility to over 10,000 trading instruments.  Excellent educational tools are also on offer.


Pros Cons
Great Educational tools Limited portfolio
Great Customer Service Web Platform needs to be updated a bit
Large Product offering High fee for international bank withdrawal
Easy and quick account opening


GO Markets


GO Markets is a leading broker which boasts a massive client base across more than 150 countries. GO Markets is a popular Forex and CFD brokers for both new and experienced traders and offers a wide variety of tools, assets and reasonable trading conditions plus forex, share CFDs, indices, metals and commodities for trading on the MT4 and MT5 trading platforms.


Pros Cons
Low minimum deposit Only two account types
Very fast execution of trades
Good trading analysis tools on offer
Demo option available
Low Forex fees




XTB is a leading European broker which was founded in 2004 and has offices situated in 13 countries across the globe.  Traders with XTB can choose from CFDs on FX, Indices, Cryptocurrencies, Shares, Commodities and ETFs.  Its proprietary platform xStation 5 is world renowned and is available for use alongside the popular MetaTrader4 platform.


XTB also offers free educational material to their clients through their Trading Academy.


Pros Cons
Award winning platform which is very user friendly Limited product portfolio
Free and fast deposit and withdrawal No website trading platform
Training Academy Poor support
Low trading fees
No withdrawal fees




AxiTrader is a UK and Australia based company which is regulated by ASIC in Australia and the FCA in the UK.  AxiTrader is a MetaTrader broker specializing in foreign exchange speculative trade, including Bitcoin, indices, metal and commodities.


AxiTrader offers traders access to MT4 and MetaTrader 4 traders can make use of MT4 NextGen.

The MT4 NexGen offers features such as advancement management tools, enhanced ordering, sentiment trading and much more.  AxiTrader also offers Beginner traders a host of educational resources as well as low trading fees, no inactivity fee and no fees for deposits and withdrawals.


Pros Cons
Dedicate support team over multiple channels Short demo time doesn’t allow time to master trading
Great educational tools Limited currency pairs






Darwinex is unique amongst brokers and copy trader brokers with their invention of a “Darwin”. These DARWINS are tied to traders and their strategies; with a start value of 100. This start value changes based on the performance of the underlying strategy of the trader.  An investor can buy or sell these DARWINS in the same way as they would buy or sell stocks and shares on the market.


Darwinex also offers the full MetaTrader suite which includes MetaTrader 4.


Pros Cons
Demo option available Choose to be either and investor or a trader
Three currencies available Minimum deposit is not very low
Low Spreads Account opening not the easiest
Trading costs can be on the high side Have to pay a 20 % performance fee to Darwin trader
Social trading and fees are paid on execution of “Darwin” trades




LiteForex is focussed on making the Forex market accessible, safe and easy and is one of leading brokerage companies worldwide.


LiteForex has multiple platforms, including Metatrader 4 on offer and boast a very low initial minimum deposit, plus a wide variety of payment systems.  LiteForex has received the “The Best Client Service” award at the 6th International Investment & Finance.


Pros Cons
Easy account opening with low initial deposit Limited trading instruments
Wide variety of deposit systems Not the cheapest commission fees
Amazing customer support No service clients in the US, Israel or Japan
Great trading platforms




OctaFX offers traders very low spreads, award-winning trading conditions and CFD and Forex trading in over 100 countries.  OctaFX offers clients multiple tradeable assets including Forex, metals, and crypto with CFD markets on the popular Metatrader 4 platform.  Access to cTrader, the world’s best alternative to Metatrader is also available.  OctaFX also offers multiple trading accounts, sizes, excellent educational resources and free demo accounts.


Pros Cons
Minimum deposit Limited trading instruments
No commission on deposits and withdrawals
20% return on average for copytrading
Free 50% bonus with every deposit



Tickmill is an award-winning global ECN broker which is authorised and regulated in the UK by the Financial Conduct Authority (FCA) and the FSA of Seychelles.  Tickmill offers traders a wide range of products including Forex, Stock Indices, Commodities, CFDs and Precious MetalsTickmill is also well-liked by users for their fast STP executions on the MT4 platform due to their Equinix LD4 data centre servers based in London.


Pros Cons
Award winning platform which is very user friendly Only Forex and CFD’s
Low forex fees Trading platform is a bit outdated in design
No withdrawal fees Basic news feed
Low trading fees
Low minimum deposit




InstaForex offers traders a variety of platforms which are backed up by a solid, user friendly mobile app as well.  Trading tools and in-house MT4 plugins such as Pattern Graphix and Superior Forex Desk is also available alongside great bonuses and promo campaigns.  This Broker also offers traders a 40% bonus for every deposit and up to 100% for the initial deposit.


Pros Cons
Wide variety of platforms to choose from Customer service is only during the work week
Commission free accounts  Withdrawal commissions
More than 300 instruments
Lots of educational resources
Great copytrading platform




CityIndex offers traders great market analysis, excellent research tools and multiple platform options, including both their own proprietary platform as well as MetaTrader 4CityIndex is authorised and regulated by the UK Financial Conduct Authority.


CityIndex’ educational resources are offered through their own Trading Academy in the form off videos which covers a host of subjects.  The broker offers retail, professional and premium trading accounts to trade on 12,000+ instruments covering Indices, Shares, Forex, Cryptos and Commodities via Spread Betting, CFD and Options.


Pros Cons
First class trading platform 12 weeks is better than some but may not be be enough time to skill up and gain confidence in forex trading
Great educational resource Basic research tools
No minimum initial deposit to start trading for bank transfers No Volume discounts
Low Forex fees




IC Markets


IC Markets is very popular due to two specific offerings namely copytrading and high-volume trades.

For copytrading IC markets offers their proprietary copytrading platform – Zulutrade, which is considered one of the best in the market.


IC markets also offers multiple services and features designed for both beginner and experienced traders plus excellent trading platforms such as MetaTrader 4 plus a wide range of products and a quality 24/7 support team.


Pros Cons
Low Forex fees No negative balance protection
Easy and fast account opening Only Forex, crypto and CFD trading
Free deposit and withdrawal
Low minimum deposit


What is MetaTrader4 (MT4)?


The MetaTrader4 (MT4) is the most common and most popular trading platform in the Forex industry, created by Metaquotes. This is a platform offered by most brokers in the market and helps traders globally to trade Forex and other financial instruments with ease. The trading platform is particularly popular, because it has a user-friendly interface and new traders can utilize it quickly.


The MetaTrader4, or MT4, platform comes equipped with an excellent and detailed charting package. Traders have the opportunity to choose between a variety of line, bar and candlestick charts, technical indicators, trend lines, support and resistance levels, and many other beneficial tools. The trading platform gives access to pretty much everything you need for the technical and fundamental analysis of your trading strategies. Some brokers will also feature a live feed of financial news and market events.


Why should a trader choose an MT4 Forex Broker?


The MT4 platform provides traders the opportunity to create their own automated trading strategies, scripts and custom indicators using the MQL language. There is also the option to download these scripts and indicators from the platform’s extensive library. Forex traders can also check whether a strategy works before they apply it, with actual market conditions, through back testing. MT4 also provides the option for one click trading and signal copying. The MT4 platform is available across all device’s desktop, mobile and tablet.  A new version of MT4 platform is also available, the MT5 platform.  There is a list of brokers that offer Forex trading through MT5, that is available on the website.


  • 3 Execution Modes
  • 2 Market Orders
  • 4 Pending Orders
  • 2 Stop Orders and A Trailing Stop

It can be downloaded at absolutely no charge and hassle-free. By downloading MT4 and using MT4 Forex brokers through PC, you will receive the most powerful and most convenient tool for technical analysis and trading in the financial markets. During the first launch, you will be prompted and asked to open a free demo account that allows you to test out all of the features of the trading platform without risking any financial liability.


MT4 Forex Brokers


There are many Forex brokers that utilize MT4 as their preferred trading platform as an option for their traders. As an example, XTB relies heavily on the MT4 trading platform because of its user-friendly interface and its ability to simplify trading for anyone. Most traders find using MT4 Forex brokers to be comfortable and accommodating, especially since the MT4 trading platform tends to conform to the preferences of the trader. This means that the platform is learning the trader, and the trader is not necessarily learning the platform; it causes many traders to delve deeper into the financial market and trading industry.


MT4 Forex brokers are also very reliable because of the amount of security that is available in the trading platform. They keep personal information and IP addresses private and concealed from the public, along with the trading actions that are taken by the trader. Many traders rely on the trading platform, and the brokers that utilize it, especially since the fact that MT4 is the most common trading platform in the financial market.


Along with all the other features that emphasize the benefits of the MT4 trading platform, MT4 is free of charge and completely hassle-free.  One of the best MT4 brokers, according to various sources, would be XTB.


MT4 System Necessities and Requirements


MT4 PC Requires the Following:


  • Processor 1 GHz or higher
  • Windows 7 (32 – and 64-bit); Windows 8 (32 – and 64-bіt) and Windows 10 (32 – and 64-bіt)
  • RAM 512 MB
  • Free hard disk space 50 MB
  • Screen Resolution 800×600


How to Download MT4 PC – Free Trading Platform:


  • Download MT4 and start trading by using a full list of the terminal’s options and choices
  • Download MT4 to open Demo\Real Account


MT4 Download Has Been Tested for The Following Browsers and Reported Successful:


  • Google Chrome – latest version
  • Fіrеfоx – latest version
  • Opera – latest version
  • Internet Explorer – version 8.0, 9.0, 10.0.


There are numerous Android-powered smart-phones and tablets, and any of them can be used to trade with MT4 Forex brokers or trade Forex via MT4.

These are just many of the praised features on the trading platform that have been popular with traders, old and new:


  • Round-the-clock access to the financial markets, so traders can trade whenever they feel like it
  • Connection to over two-thousand broker servers, where traders are able to reach unlimited brokers
  • 30 technical indicators and 24 analytical objects that help clarify the trading environment
  • Full-features trading system with two execution modes and four order types
  • Real-time symbol quotes
  • 3 chart types and 9 time-frames (periods)


Benefits of MT4  Forex Brokers


  • User Experience:MT4 provides an easy to use interface, allowing both beginner and seasoned traders to trade comfortably within an intricate, erratic market. The trading platform of MT4 is available to download for desktop and handheld devices. Handheld devices and MT4 allow traders to have access to financial markets and to trade without being limited to a desk or a certain space.
  • Flexibility:MT4 enables traders the ability to trade with all currency crosses and pairs, together with, the option to trade in disparate markets for securities such as futures and equities.
  • Expert Advisers (EAs):This is an extremely crucial and popular aspect of the MT4 feature portfolio and major point in the pros side, Expert Advisers provides and allows traders with the option to automate trades through a customization interface that is tailored to their preferences. MT4’ѕ success and popularity is largely attributed to its algorithmic trading.
  • Communication:Excellent, enhanced communication tools are also another crucial aspect of MT4 that links and connects traders and brokers, which ensures swift and instant communication.
  • Security:Security is always a priority, but especially when traders are handling Forex trading. Traders need to be secure in the knowledge that they are not susceptible or exposed to any form of hacking or attacks. The MT4 trading platform is primed and equipped with encryption software that protects data traded between traders, or clients, and the server via a 129-bіt key. Furthermore, the IP addresses and personal information of clients and traders, such as IP addresses, are concealed, as an extra layer of protection.


These benefits show you that the MT4 trading platform is, in fact, the most helpful and user-friendly trading platform that is currently in the market. Along with the MT4 trading platform, there is the new and improved MT5 trading platform, which is also utilized by Forex brokers like AvaTrade and IC Markets.

MT4 vs MT5 Trading Platforms

MT4 vs MT5

The MetaTrader platforms are undoubtedly the most popular platforms in forex trading. These platforms are the quintessential trading tools and they perfectly manifest how effective trading can be when you have the right tools.

MT4 vs MT5 trading platforms have been on the market for a considerable amount of time and they both have an immense number of users. MT4 is the older of the two have been on the market since 2005. MT5, on the other hand, has barely been around for a decade but it has seen its popularity go up within a short time.

Both provide pioneering automated trading systems with expert advisors. However, they each serve a very different function and, contrary to popular belief, MT5 is not an upgrade of MT4. MT4 was specifically built for forex traders, whereas MT5 was designed to provide traders with access to CFDs, stocks, and futures.  

10 Differences Between the  MT4 and MT 5 Trading Platforms


  1. Installation

MT4: Installation is simple and straightforward.

MetaTrader 5: Installation is not as simple when compared to MT4. The manufacturer’s demo trading server (METAQUOTE) is a default in the opening account phase of the installation. An option to add a new trading server from MetaTrader 5 for a demo account is also included.

  1. Fundamental Analysis (news trading)

MT4: Forex Economic Calendar is not included in the news tab.

MetaTrader 5: The platform has an inbuilt Forex economic calendar tab with features like a news event, schedule, impact, forecast, earlier events, e.t.c.

  1. Charts/Timeframe

MT4: There are nine (9) timeframes. There are limitations to the number of charts that can be opened at the same time.

MetaTrader 5: There are 21 timeframes ranging from 1 minute to 1 month, and an unlimited number of charts. One hundred charts can be opened at the same time without limitations.

  1. Commerce/Market

MT4: The market utility tab is not integrated into the platform. You have to visit in order to buy any of its product in their marketplace.

MetaTrader 5: The market utility tab is built inside the platform. You can directly buy Forex products through the market tab.

  1. Order Types

MT4: It has only two (2) market orders, and four (4) pending orders.

MetaTrader 5: More order types are included in the platform. There are two (2) market orders, six (6) pending orders, and two (2) stop orders.

  1. Indicators & Analytical Objects

MT4: There are 30 inbuilt indicators pre-installed on the MT4 platform.

MetaTrader 5: There are 38 inbuilt indicators pre-installed on MetaTrader 5 platform. There are 22 analytical objects, and 46 graphical objects added to the platform.

  1. Interface

MT4: The interface is easier to navigate when compared to MetaTrader 5. The one-click trading feature and the drag and drop functionality is included in build 500 version only.

MetaTrader 5: There are slight differences in the platform’s interface. A search box has been included on the platform as well as a details tab on the market watch window.

  1. Expert Advisors and Autotrading

MT4: The MQL code editor and strategy tester are the main utilities used for expert advisor design. Expert advisors are programmed with MQL programming language, and they are faster to compile. It is not possible to transfer expert advisor codes from MT4 to MetaTrader 5. Therefore expert advisors designed in MT4 would not work on MetaTrader 5.

MetaTrader 5: It comes with more utilities for expert advisor design. The strategy tester utility has been upgraded, and a strategy tester agent manager for remote optimization of expert advisors was also added. Expert advisors are designed with C++, and they are slower to compile due to the dynamics of C++ programming language.

  1. Brokers service integration

MT4: Most brokers deliver their services on MT4.

MetaTrader 5: Fewer brokers deliver their services through MetaTrader 5 when compared to brokers who deliver their services on MT4.

  1. Trading (Hedging, FIFO, e.t.c.)

MT4: There are no restrictions on any trading method. However, broker regulations are implemented on their proprietary MT4 platforms.

MetaTrader 5: It does not support hedging of trades, and it also implements the FIFO policy by default.

So Which Is Better?

Well, that depends on your preferences. That’s just like asking if plain black coffee is better than an iced caramel macchiato with whipped cream and an extra shot of espresso!

If you believe that “less is more” and you’d rather stick to the essentials of straight up forex trading, then you might be better off using the more straightforward MT4 platform. On the other hand, if you like the flashy new features and a jam-packed menu of options, MT5 might have just what you need.

In Conclusion, Forex Trading has great potentials for success and at the same time high possibilities of losing funds. Success in Forex requires the best resources and skills. Determine which platform is right for you with this handy.