MT4 Brokers

MT4 is a very famous trading platform used by many people all over the world. Lots of online brokers support MetaTrader 4. But in 2024, which MT4 broker is the best? Later in this guide, we’ll talk about other features. It’s important to know that it is free to use. So, picking the best MT4 broker is really important. This guide has everything you need to know about MT4 brokers. It ranks and reviews the top 10 best brokers based on things like low fees, tight spreads, supported assets, leverage limits, and more.

What is MT4 (MetaTrader 4)?

MT4, also known as MetaTrader 4, is a trading platform that came out in 2005. It helps traders work with online brokers, but it doesn’t directly make trades. Instead, it quickly sends orders to the broker. This ensures there’s no delay between a trader placing an order and the broker executing it. MT4 is popular among active traders who like to analyze data. It has more than 30 built-in indicators like RSI and MACD. Plus, there are over 2,700 extra indicators available, many for free. MeT 4 also has tools for drawing and looking at different time frames.

Traders can customize MT4 to fit their strategies and goals. It’s great for automated trading too. Users can add trading robots with preset conditions, either from MT4’s marketplace or elsewhere. MT4 also offers virtual private servers so robots can trade nonstop. It lets traders use special order types, like market or stop orders, to enter or exit positions perfectly. It’s available as software for computers and as an app for phones, and it works in web browsers too. With MT4 Switch Brokers, you can start using one broker on MT4, then easily switch to another.

Remember, it is just a platform. The assets you can trade, fees, and other details depend on the broker you choose. And you’ll need a brokerage account to use it, though many brokers offer a free demo account to get started. 

Top 10 Ranked MetaTrader 4 Brokers List

1. Vantage Markets

They’re the best MT4 broker. They offer over 1,000 CFD products like forex, indices, and commodities. You can use MT4, MT5, Pro Trader, and a mobile app to trade. They have really low spreads, including 0.0 pips for EUR/USD with an ECN account.

2. AvaTrade

They’ve been around since 2006 and are a good CFD broker. They support forex, commodities, options, stocks, and other markets. You can get leverage up to 1:400. They don’t charge commissions and their spreads start from 0.9 pips. They support MT4, MT5, and DupliTrade.

3. XTB

They’re a popular forex broker that supports thousands of assets. They offer 0% commission on all markets and competitive spreads. There’s no minimum deposit requirement, and they offer a free MT4 demo account. Depending on where you are, you can get leverage up to 1:500.

4. Trade Nation

They’re good for forex traders who want competitive spreads. They offer spreads from 0.0 pips on major pairs, with a commission of $3.50 per traded lot. They have a standard account for casual traders with commission-free trading and slightly higher spreads.

5. Libertex

They’ve been around for more than 25 years and serve over three million clients. They have some of the best trading fees, with spreads starting from 0.2 pips and no commissions. Eligible clients can get leverage up to 1:99.

6. Skilling

They offer accounts for both casual and professional traders. Their commission-free accounts have spread from just 0.7 pips. The professional account has a minimum spread of 0.1 pip. They offer leverage up to 1:200 and support 73 forex pairs, stocks, ETFs, commodities, cryptocurrencies, and indices.

7. Pepperstone

They’re a regulated forex and CFD broker offering leverage up to 1:200. Their razor account offers spreads from 0.0 pips with a commission of $3.50 per traded lot. They also have commission-free accounts with spreads starting at 0.7 pips. They support MT4, MT5, and cTrader with no minimum deposit requirements.

8. IG

This online broker offers US clients commission-free trading on over 80 forex pairs. Spreads start at 0.8 pips on EUR/USD. They’ve been around since 1974 and are known for regulation and safety. Their customer support is highly rated, and they offer a demo account with $10,000 in virtual trading funds.

9. Capital.com

They’re a regulated CFD trading platform supporting thousands of markets. You can get started with just $20, and they offer a free demo account. They don’t charge trading commissions, and forex spreads start from 0.6 pips.

10. CMC Markets

They offer a huge range of leveraged products, including over 330 forex pairs, 10,000 stocks, and various commodities, bonds, ETFs, and indices. Non-stock instruments can be traded commission-free. Forex spreads start from 0.7 pips and there’s no minimum deposit requirement.

How to use the MT4 Platform?

The MT4 platform has everything you need for successful trading. It’s suitable for all kinds of traders, whether you’re a beginner or an expert. MetaTrader 4 is efficient, secure, and offers many trading opportunities.

Indicators and Add-ons

One of the best things about MT4 is its great chart package. It has technical indicators and tools for fundamental analysis. The platform is easy to use and offers many indicators through add-ons.

Advisors and VPN

It also offers automated trading through Expert Advisors (EAs). These EAs let you customize trading strategies. You can use them with a VPN for uninterrupted trading.

Backtesting

You can test trading strategies using it’s backtesting feature. This helps you see how your strategies would have performed in the past. It’s a useful tool for refining your trading approach.

Conclusion

In conclusion, there are many MT4 brokers out there, each with their own fees, spreads, and markets they support. When you pick a broker, look closely at how they handle trading.

All the companies on this list are trustworthy brokers with great trading setups. Overall, Vantage Markets is the top choice. It has tons of trading options, like forex, stocks, indices, and commodities. Plus, it has low spreads and you can open a real money account in under five minutes.