Top Metatrader 4 (MT4) Forex Brokers

When you choose a Forex broker, one of the features you want to know all about is its trading platforms. Most Forex brokers provide access to the most popular MetaTrader4 platform along side with other options and in-house trading platforms. MetaTrader 4, also known as MT4, was designed by MetaQuotes Software and first saw the light back in 2005. MT4 is an electronic trading platform very popular among traders worldwide in online currency exchange environment.

What does mt4 mean?

MetaTrader 4, also known as MT4is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients.

The MT4 platform has adapted itself over the years to meet the needs of MT4 Forex brokers and their clientele. Additional features have been added to ease the trading process and traders of all levels find the MT4 platform user-friendly and simple to understand. Before choosing a broker, it is important to look into the platforms offered. We have made your choice easier by listing the top MT4 Forex Brokers. All of them have been tested and reviewed by our Daily Forex team and we present them below so you can make an educated and informed decision.

Trading with MetaTrader 4

The most powerful platform in the world, with everything you need to perform your trades in an advanced area and become the best trader you can be.

  • Flexible and fast trading platform
  • Trading signals from top providers
  • Expert advisors for algorithmic trading
  • Global accessibility from PC, web & mobile

Is MT4 free to use?

Downloading and using a MetaTrader 4 demo account is completely free. You’ll be able to play around with the platform with virtual money here. Launching a live account, on the other hand, is a unique experience. Software licenses are sold to brokers that MetaTrader 4 users can open real accounts with. Choosing a brokerage and filling out an application are both necessary steps in getting started with a real trading account.

As soon as your application is approved by a brokerage, the company will provide you with a user ID and password so that you can begin utilizing the platform with your own money. After then, the price structure will be determined by the brokerage firm that you collaborate with. They will decide what kinds of costs you will be required to pay in order to utilize the platform, as well as the cost of making transactions and any additional fees.

Keep in mind that MetaTrader 4 is expensive for brokerages. The initial outlay for each license is $100,000. In addition, each brokerage will have to spend thousands of dollars each month for additional essential services, such as hosting, bridging, and support. Before selecting a broker, make sure to compare the features that each one has to offer.

Why MT4 Broker?

Most powerful platform in the world

Open an account to trade with competitive spreads on the world’s most powerful and advanced platform

Easy accessibility

Maximise the platform easily from your PC, iOS or Android phones and tablets, as well as directly on the web.

Analytic abilities

Displaying multiple time frames, analytical objects and technical indicators on flexible and interactive charts.

MetaTrader 4 expert advisors

Programmes that enable algorithmic hands-free trading, or automated trading, in order to achieve top scores.

Is MetaTrader 4 a broker?

MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients.

MetaTrader 4 MT4 Forex Brokers List

This is the complete list of regulated brokers who include MT4 platform to the offering and are verified by us:

BrokerMin DepositPlatformsPaymentsLeverageRegulation
AvaTrade8 yes, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptionsyesyesCredit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney1:400English, Chinese, Arabic, Spanish, French, Italian, Portuguese, German, IndonesiannoyesCentral Bank of Ireland, ASIC, Financial Services Commission of British Virgin Islandnoyesnoyesyesyes101011
LiteFinance8 + 15%yes 4, Metatrader 5, WebTerminalyesyes Skrill, Webmoney, Bitcoin, Advcash, Credit Card1:500English, Russian, Chinese, Malaysian, German, Arabic, Partugese, Spanish, French, Hebrew, Japanese, Greek noyesCySEC, Marshal Islands Business Corporation Act.yesnoyesyesyesyesyesyesyes111001
InstaForex6$100 No Deposit Bonusyes 4, Metatrader 5, WebtraderyesyesSome local Bank transfers, PayCo, AstroPay, Cryptocurrency1:1,000English, RussianyesyesRAFMMyesyesyesyes111001
XM7$30 no deposityes 4, Metatrader 5, XM WebtraderyesyesCredit/Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer1:888Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Malay, Korean, Polish, Portuguese, Russian, Spanish, Swedish, Turkish, Thai, VientamesenoCySEC, ASIC Australia, IFSC Belizenoyesyesnoyesno101011
Octa9 0.2up to 50%yes 4, Metatrader 5, OctatraderyesyesNeteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay1:500EnglishyesCySEC, FSA-St-Vincent, FSCAyesyesyesyesyes110011
BlackBull Markets6 4, Metatrader 5yesyesBank Transfer, Credit Card Payments (Visa, MasterCard), Skrill, Neteller, China Union Pay, FasaPay1:500yesnoFinancial Services Provideryesyesyesyesyes1

Why is it important to choose a regulated MT4 forex broker?

Choosing a regulated broker is important as your broker holds your funds and executes your trades. Without proper oversight, your funds could be at risk and your trades may not be executed fairly.

Brokers that choose to be regulated and overseen by the laws of a government financial body, provide a higher level of safety and security than those that do not. However, not all financial regulators are equal.

In our reviews, we break down financial regulators into three categories including tier 1, tier 2, and tier 3:

  • Tier 1 regulators are well-known authorities such as the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and many others.
  • Tier 2 regulators are lesser-known authorities but are still considered to be of a high standard. Examples include the Dubai Financial Services Authority (DFSA), the Financial Markets Authority of New Zealand (FMA), and many others.
  • Tier 3 regulators are generally from more offshore-based countries. Examples include the Vanuatu Financial Services Commission (VFSC), the Securities Commission of the Bahamas (SCB), and many others.

Many brokers have entities that are regulated by tier 1 to tier 3 regulators but may also have entities that are not regulated at all such as entities registered in St. Vincent and the Grenadines.

It is always worthwhile checking the entity you are opening a trading account with and the protections available from its regulator. For example, opening an account with an FCA-regulated broker means traders are eligible for the Financial Services Compensation Scheme (FSCS) which covers up to £85,000 in case of broker insolvency.

Many of the tier 1 regulators also enforce a negative balance protection policy on a broker’s retail trading clients, while also enforcing that client funds should be held separately from company funds. Many tier 2, tier 3, and unregulated brokers are not obliged to offer this – some still will offer this but some may not.

Can I use MetaTrader 4 in 2023 without a broker?

MetaTrader 4 is not a Forex broker, it is a trading platform, and many Forex broker companies give it for free. MetaTrader 4 offers probably the best free forex demo account for beginners.

MetaTrader Expert Advisors

One of the biggest opportunities MetaTrader has is the Expert Advisors (EA)

An Expert Advisor (EA) is a piece of software that has been specially designed to perform trading functions. This software alerts forex traders to trading opportunities and advises them on which trades to execute. In addition, an EA can perform automated trades.

The EAs could be created by the trader in the MQL language or could be downloaded from the official MetaTrader website. Some of them are free, but there are paid EAs as well.

What Can You Trade With An MT4 Broker?


Forex, short for foreign exchange, is the most popular trading instrument on MT4 platforms. You can typically trade up to 70 currency pairs, including majors (like EUR/USD, USD/JPY, and GBP/USD), minors, and exotic pairs.


MT4 brokers often offer stock CFDs (contracts for difference) as an instrument. Stock CFDs allow you to speculate on the price movements of individual stocks without actually owning the underlying asset.


Commodities are physical goods that are traded on global markets, such as gold, silver, oil, and agricultural products. When trading commodities, you are speculating on the future price of these assets.


Metatrader 4 brokers may offer cryptocurrency trading, allowing traders to speculate on the price of popular digital currencies like Bitcoin, Ethereum, and Litecoin.


Indexes represent the overall performance of a group of stocks, typically from a specific country or industry. Some well-known examples include the S&P 500, NASDAQ, and FTSE 100.

Which is better mt4 or mt5?

MT4 is designed for CFD forex instruments, whereas MT5 is an all-in-one state of the art multi-asset trading platform, covering both centralised and non-centralised financial markets, including, stocks, futures and FX trading instruments. MT5 is faster and more efficient than MT4.

Is MetaTrader only for forex?

The MetaTrader 4 (MT4) platform is predominantly for forex trading. However, depending on the broker, MT4 often comes with a range of other symbols such as CFDs on indices, commodities, futures, energies, and metals.

What is the difference between MetaTrader 4 and MetaTrader 5?

The MetaTrader 4 (MT4) forex trading platform is based on a prior generation (version) of software developed by Metaquotes Software Corporation, whereas, MetaTrader 5 (MT5) is the latest version. In addition to supporting individual shares, MT5 features advanced functions like utilizing cloud-storage to run strategies and to conduct backtesting. With MT4, backtesting must be done locally or through a virtual private server (VPS).

MetaTrader 4’s Pricing

The brokerage pays an upfront fee of $100,000 for a full license and coughs up an extra sum of around $15,000 per month for hosting, bridging, hiring 24/5 support and other services.

Is mt4 good for trading?

The MetaTrader4 (MT4) is by far the most popular platform for forex retail traders. More than 95% of the forex brokers offer this platform on their websites. It is one of the most complete trading platforms out there with many features, indicators etc.

How much can you make on Metatrader?

If you risk $1000, then you can make an average of $20,000 per year. If you risk $3000, then you can make an average of $60,000 per year. If you risk $5000, then you can make an average of $100,000 per year. This is the same strategy, same account size, and same trader.

Is MetaTrader 4 demo real?

Working on a demo account provides you with Forex trading experience using all the trading features provided by the MetaTrader 4 platform. You can trade in real time and learn how to analyze the markets using technical indicators without risking your money.

Buttom Line

MetaTrader is considered the best platform for Forex trading, and it truly deserves this characteristic. It is hard to think of a better platform that offers so many features and opportunities for beginner and experienced traders.

The MetaTrader platform offers a lot of opportunities for traders to trade smarter and increase their profits. It is important to know how to take advantage of them and use the MetaTrader platform at its maximum capabilities.

top forex broker


New Brokers

Regulation: Financial Conduct Authority (FCA)

Regulation: CySEC

Regulation: CySEC Cyprus, FSA St Vincent, FSCA Financial Sector Conduct Authority South Africa

Regulation: UK by the Financial Conduct Authority FCA , Australian Securities and Investments Commission ASIC, Cysec Cyprus, Financial Sector Conduct Authority South Africa FSCA

Regulation: Central Bank of Ireland, ASIC, FSCA, Japan, Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) Cyprus Securities and Exchange Commission, Israel Securities Authority

© 2007 – 2024 Trading financial instruments carries high level of risk to your capital with the possibility of losing more than your initial investment. This site will not be held liable for any loss or damage in result from using the information within the site including forex Broker reviews 2024, market analysis, trading signals, learning resources and comparison tables. The data within this website is not necessarily real-time nor accurate and do not represent the recommendations of the employees. Currency trading is not suitable for all investors. Before deciding to trade currency or any other financial instrument please consider consider your investment objectives, level of experience, and risk appetite. While we do our best to provide up-to-date information, we strongly encourage you to verify it directly with the broker of your choice.