Best MT4 Brokers – Top MetaTrader4 Forex Brokers

MT4 brokers
There are so many online trading interfaces found online today, and brokers offer traders the best platforms they can to simplify their trades. One of the most sought-after brokers is MT4 brokers. Also called MetaTrader 4, this platform is highly intuitive and loaded with excellent charts and trading tools. If you are a beginner, you may not care too much about using MetaTrader 4 for your trades, but using it is a must if you are an experienced trader.

Top Metatrader 4 Forex Brokers List

The best MT4 brokers offer traders access to MetaTrader 4 platforms for efficient spot trading. The best forex brokers have MT4 as part of their trading platforms.

Broker
Rating
Regulated
Min. Deposit
Demo
Max. Leverage
1.
Admiral Markets

FCA, CySEC, ASIC

Min $100 Deposit

1:500

Review » Visit » Visit
Terms & conditions apply
Risk warning: Trading Forex (foreign exchange) or CFDs (contracts for difference) on margin carries a high level of risk and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose. Before using Admiral Markets UK Ltd, Admiral Markets Cyprus Ltd, Admiral Markets AS Jordan Ltd or Admiral Markets Pty Ltd services, please acknowledge all of the risks associated with trading.
2.
Deriv

VFSC, FSC, IBFC

Min $5 Deposit

1 000:1

Review » Visit » Visit
Terms & conditions apply
CFDs are considered complex derivatives and may not be suitable for retail clients. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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 mentioned here may be affected by changes in currency exchange rates. If you invest in these products, you may lose some or all of your investment, and the value of your investment may fluctuate. You should never invest money that you cannot afford to lose and never trade with borrowed money.
3.
ActivTrades

FCA

Min $100 Deposit

50:1

Review » Visit » Visit
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% 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.
4.
Vantage FX

FCA, ASIC, CIMA, SIBL

Min $200 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
5.
XM Broker

ASIC, IFSC, DFSA, CySEC

Min $5 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.28% 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.
6.
Blackbull Markets

ASIC, VFSC

Min $100 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.
7.
Fusion Markets

ASIC, VFSC

Min $100 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% 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.
8.
Eightcap Review

ASIC, VFSC

Min $100 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing substantially more than your initial investment).
9.
Libertex

CySec

Min $100 Deposit

30:1

Review » Visit » Visit
Terms & conditions apply
Trading leveraged products such as CFDs involves substantial risk of loss and may not be suitable for all investors. 83% of retail investor accounts lose money when trading CFDs with this provider. Trading such products is risky and you may lose all of your invested capital.
10.
Capital.com

FCA, CySEC

Min $20 Deposit

30:1

Review » Visit » Visit
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.

Best MT4 Brokers Reviewed

To help you out, we have put together a shortlist of some of the best MT4 brokers online. Do have a look at MT4 broker reviews below.
MT4 Platform

IC Markets

IC Markets Logo
First on our list of the best MT4 brokers is IC Markets. This broker has an advanced platform that algorithmic traders will enjoy. IC Markets is a commission-based broker with a minimum deposit requirement of $200. While their learning section does not have impressive learning resources, it excels in other areas. For instance, they offer tight spreads starting from 0.0 pips

Founded in 2007, IC Markets is highly regulated by the Australian Securities & Investment Commission (ASIC). We, like many other review sites, consider it a very safe broker with average risk forex and CFD trading. If you like to execute inch-perfect trades, you will enjoy IC Markets MetaTrader4 platform as well as its cTrader.

What we like
  • Advanced technical, analytical tools
  • Wide asset range
  • Tight spreads
What we do not like
  • Poor educational library

FP Markets

FP Markets Logo
Another broker we consider as one of the best MT4 brokers around is FP Markets. This broker offers more than 130 tradable instruments and a suite of advanced trading and analytical tools. Their charge is also highly efficient and easy to use and interpret. For forex traders, they can enjoy trading up to 61 currency pairs, four metals, and 12 indices. They also have three commodity assets and give cryptocurrency assets you can trade.

Founded in 2005, the minimum initial deposit is $100, and the low spreads offered can help you minimize your risks. FP Markets offers MetaTrader 4 as well as their customized Iress trading platform. It is regulated by ASIC and other regulators.

What we like
  • Easy to use interface
  • Low spreads
  • Multiple trading platforms
  • Low deposit requirement
What we do not like
  • Only regulated by one Tier 1 regulato
  • Limited cryptocurrencies available for trading

XM Group

XM Group Logo
XM is another forex broker. This broker may not be as popular as others on this list but believe us when we say that their system is compatible with MetaTrader4, and they work well together. One of the high points of their service feature is their outstanding range of research and training materials. Their pricing policy is also customer friendly too.

If you are looking for a low deposit broker, XM is one of the best MT4 brokers to bank on because you can start love trading for as low as $5, which is quite rare when you consider the deposit requirements of other brokers. Established in 2009, they offer very low spreads and thousands of tradable assets. XM also has a high trust level because the FCA and ASIC regulate it.

What we like
  • Excellent Copy trading feature
  • A rich hive of research and training resources
  • Offers low-cost trading
What we do not like
  • Not the best for advanced traders

Pepperstone

Pepperstone LogoPepperstone is one of the industry leaders as far as forex brokerage is concerned. This broker is regarded as one of the world’s largest third-party platforms, and their social trading tool is one of the best we have seen. To begin trading with Pepperstone, you will have to fund your account with at least $200, and you can have access to trading thousands of assets on their platform.

This Australian broker was founded in 2010, and over the years, they have been able to grant a high level of trust from regulators and brokers. If you are an algorithmic trader or a copy trader, you will enjoy trading with Pepperstone. They offer both MetaTrader4 and cTrader platforms. As for their pricing, they are competitive. We also like the fact that they offer different types of trading accounts to users based on their experience level. Pepperstone is regulated by ASIC and the FCA.

What we like
  • There are no commissions from trading the cryptocurrencies
  • Outstanding customer service
  • Free and seamless deposit and withdrawal
What we do not like
  • No proprietary mobile app and trading platform
  • Mostly CFDs offered

Conclusion

Trading forex is a risky endeavor, so you need to ensure that the platform you use offers you the best opportunities to place winning trades. You stand to lose your investment by a fraction of a second if the trading tools you use are too slow, not easy to implement, or do not fit your trading style. For pro traders or traders who like to replicate the same trades within the same window, the best MT4 brokers are their best bet. All the forex brokers reviews in this list offer tight spreads and competitive pricing.

MT4 broker FAQs

Who is an MT4 broker?

An MT4 broker is a forex broker who offers traders access to a MetaTrader4 platform.

Are they called MT4 brokers because they only use MetaTrader4?

No. An MT4 broker can offer other trading platforms like cTrader, a customized platform alongside MetaTrader4.

Why do some traders like trading on MetaTrader4?

MetaTrader4 is an advanced trading platform professionals use to execute quick trades. The charts and other tools on the platform are advanced and provide detailed information that other lesser platforms cannot.

Is MT4 the most advanced platform among the MetaTrader series?

No, it is not. The most advanced is MetaTrader5.

If I am a beginner trader, is it advisable to use MT4?

That will depend on you. Some beginners find MT4 too complex and will rather start with more basic platforms. As they gain more experience and skill improvement, they graduate to MT4.

Will trading on MetaTrader4 attract any extra cost?

No, there are no extra costs incurred for trading on MetaTrader4.

Other broker types

About James Johnson
About James Johnson

Expert in Economics, Trading, Investments and Personal Finance. Graduated in 2001 in Business Economics and Management at Harvard University. After several years of working in the foreign exchange trading industry, I co-founded Forex Online Brokers in 2015 with the aim of distributing my personal knowledge and professional experiences in the field of trading and investments in general.