100 forex brokers mt4

Today, you can trade several currencies with a broker. A good broker will grant you access to several capital market areas via one forex account.

Free forex bonuses

100 forex brokers mt4, 100 forex brokers mt4.

It’s therefore important to note that broad coverage doesn’t always mean deep coverage. If your goal is to trade a lot more than forex, then the number of products that your broker covers is imperative.

Exemplary user experience

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Best MT4 forex brokers for Online Trading

The metatrader 4 (MT4) is by far one of the most popular and used trading platforms in the industry. It is used to connect clients of different brokerage firms with top financial markets. It’s a product by metaquotes software corporation designed to allow traders to effectively trade in forex, cfds, and future markets. If you are a newbie trying to make head and tails of the industry, MT4 is definitely the platform to get with. But before you dive in head first, you need someone to hold your hand through the journey – an MT4 forex broker. And with the influx of brokers in the industry, choosing one can be tricky. Below are some tips that will help make the process easier:

Proper regulation

In an industry that requires a lot of trust, regulation is key. Proper regulation will ensure that the broker is capitalized in case of trading losses, keeps your money in safe, secure as well as segregated accounts and sticks to fair dealing practices to make sure your trades are always done at the current market prices. The MT4 forex broker you choose should have a strong regulatory record.

Most countries have taken the initiative of regulating forex trading. However, the fine print of the regulations may vary from country to country. Brokers who operate in different countries need to be registered and licensed. When making your choice, ask the broker which regulator has licensed them, and if possible, request to be provided with the registration number for verification.

Best metatrader 4 forex brokers fully regulated in 2021

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 500:1 regulation: FCA UK, ASIC australia, MAS singapore	visit broker
min deposit: $1 spread: fixed spread from 3 pips leverage: up to 1:1000 regulation: CBR, cysec and FFMS	30% forex deposit bonus	visit broker

Data security

When you are opening an account with your broker, you’ll provide lots of personal and financial information. Usually, you’ll be requested to provide copies of your passport, bank account information, utility bills, and credit card number.

Having poor internet security protocols puts your data at risk of theft. It could also disrupt your trading activities and even lead to identity theft. Before committing to any forex broker, ensure they have great internet security. The internet security could include SSL, a 2-factor authentication and a privacy policy.

To ensure that you always get the best rates at the required times, you should choose a broker with exceptional trade execution methods/practices. Essentially, forex brokers can be classified into two: market makers (those dealing desks) and STP brokers (those that pass your directives to interbank markets).

With market makers, any loss you make registers as a loss on their end and vice versa. But this doesn’t mean that they are working against you. The idea is to spread the bid when clients enter as well as exit the trades. They offset the risk of the trade with other trades from their clients and with their current liquidity provider.

On the flip side, STP brokers route all your directives to financial institutions like hedge funds, mutual funds, and banks. They see a good quote in the interbank market and then add some fractional pips as compensation before they route the order to liquidity providers.

Product coverage

Today, you can trade several currencies with a broker. A good broker will grant you access to several capital market areas via one forex account. It’s therefore important to note that broad coverage doesn’t always mean deep coverage. If your goal is to trade a lot more than forex, then the number of products that your broker covers is imperative.

Now that you know how to pick an MT4 forex broker, let’s look at the benefits you stand to gain using the MT4 platform.

Exemplary user experience

The MT4 interface is user-friendly. This enables forex trading newbies to navigate the volatile and complex market with great comfort and ease. Moreover, MT4 has a mobile app which allows access to the platform anytime and anywhere.

MT4 supports lots of languages all over the world. This means that you can use the platform in your native language.

Charts
in addition to its user-friendliness, MT4 provides advanced chart features, which help traders to analyze the technical aspects of their market. Also, you can change the style and color of the charts and use different templates that you like.

Communication
the platform has advanced tools of communication which enable the brokers to communicate with traders in real time. This gets rid of long email threads which can be a pain to follow. It makes trading and collaboration easier and simpler.

As you prepare to venture into the forex trading, be patient and a good communicator. Hopefully, you don’t think it is a get rich quick scheme, but you will undoubtedly enjoy great returns if you do it right.

MT4 forex brokers - metatrader4 brokers 2021

Metatrader trading platform created by the leading and prominent software developer metaquotes was created and elaborated to give traders the possibility to speculate online and raise funds from the price increases and decreases of the world currencies. Such fluctuations of currencies are called foreign exchange - forex. Nowadays mt4 forex brokers dominate on global currency markets due to the platform’s highest stability and reliability. Besides, mt4 brokers are so popular due to the platform’s user-friendly interface and the availability of a browser usage. Being at the same time a powerful tool which can be adjusted to a trader’s needs, the software thus is in high demand among both novice traders and professionals. Despite the presence of a newer version of the platform the majority of currency traders, especially novices, still prefer the older version of metatrader - MT4, besides the newer one is not yet so widely supported by the dealing centers. Read our detailed analysis "what forex platform to choose: MT4 or MT5" to decide which version suits your trading needs and skills. Best mt4 brokers are presented in the list below for your choice. Be aware that mt4 brokers list is being continuously updated in correspondence with the updates of the brokers’ trading conditions. Our best mt4 broker comparison tool will help you to find the one and only mt4 broker best suitable exactly for you.

Read our extended forex guide to find out how to choose the best forex broker 2021.

Start forex trading now! Open forex account with the best forex brokers 2021.

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Forex forecasts

Cryptocurrencies trading forecasts

Bitcoin's price reversed wednesday's losses on thursday. Traders and analysts, however, have largely kept a short-term bearish view because some are attributing.

The cryptocurrency market experienced an increased wave of selling pressure and within the last hour bitcoin (BTC) price dropped below the $30,000.

Bitcoin (BTC) slid under $33,000 for the first time in over a week on jan. 21 as selling pressure gathered to drive price action lower. Data from cointelegraph.

Unlock market coverage and price events across more than 35,000 currencies, stocks, indices and more! Gain insights into what moves the market with market buzz when open and fund a moneta markets live account with $500 or more!

The price of bitcoin (BTC) dropped sharply from $37,800 to $35,000 overnight, liquidating $572 million worth of cryptocurrency futures positions. There are three.

The price of ether (ETH), the native cryptocurrency of the ethereum blockchain network, has been soaring since the beginning.

Bitcoin's price seems to have settled down somewhat following its major rally, and subsequent fall and correction. This has seen the coin now sitting.

A variety of web terminals and specialized software makes a choice of a trading platform a difficult one for a novice trader. What should be this vital decision based on? To begin with, it is necessary to highlight the main criteria that high-quality software must meet for making money on financial markets.

Top 10 forex platforms 2021

Automated trading systems are an opportunity to create passive earnings in the financial markets for all users. Successful and proven strategies are integrated into the algorithm of advisers, which will make it possible to earn on the pricing of assets without delving into the subtleties of technical analysis. We present the top 10 forex advisors including equilibrium, excalibur, night owl.

Top 10 best MT4 ECN forex brokers of 2021

Top rated:

Looking for the best solution to have a forex ECN account and use it with the famous MT4?

The term ECN stands for electronic communication network, and indicates those forex brokers that offer direct market access to their clients, connecting them directly to their liquidity providers (large banks and market makers).

In this post we have collected the 5 most famous broker in the world that will allow you to access their ECN using the popular metatrader 4, thus using an MT4 ECN platform.

For a wider overview on this execution method, we suggest you checking out what we consider to be the best ECN brokers according to our experience.

Here’s our top 5 of the best forex brokers for MT4 ECN for 2021.

(this post is part of the best MT4 brokers series)

Top 10 of the best forex MT4 ECN brokers 2021

1. Pepperstone

The first broker to feature is an australian giant, pepperstone, which, with their razor account, will give you access to their vast ECN using the metatrader 4 trading platform which is known and trusted. Trading with pepperstone you can make the most of their range of social trading features and a pepperstone standard account trading through MT4 is also available to choose depending on your trading needs.

The minimum deposit with this broker still remains competitive too on the scale of ECN forex brokers at $200. Combine this with the spreads starting from 0 pips and an active trader program that helps lower trading costs through rewarding loyalty and trading volume and it is easy to see the attraction of this top broker to all traders both new and experienced.

2. Admiral markets

Second on our list of the best brokers for an account with a MT4 ECN we find admiral markets, the important russian-born broker. They are a very well known and trusted market maker type of broker who are comprehensively regulated by both the FCA and cysec. This provides for a high level of trust. Once you have opened your ECN MT4 account here you will find more than 4,000 assets to select from that also include bonds, etfs, and crypto. A huge range for all traders.

Both standard and prime accounts are available with MT4 here through a good value $100 minimum deposit and a very competitive spread. That spread starts from 0 pips if you are aprime account holder, or a still very competitive 0.5 pips if you are trading from a standard account type.

3. Vantage FX

Founded in 2009, this australian broker has fast risen to a position of trust and credibility from their more than a decade in the forex trading industry. They are comprehensively regulated across the globe by no less than ASIC, the FCA, and CIMA, so you have many options as a trader looking for lexibile regulation as well as an ECN MT4 broker. With vantage FX you are free to select from three account types, standard, raw ECN, and pro ECN that come with $200, $500, and $20,000 respective minimum deposits.

Your options for trading are also extensive, with more than 150 cfds available to trade and a range of 40 forex pairs to choose from. Their islamic trading account availability and conditions also make the broker a favorite of islamic traders with spreads from 0 pips.

4. FP markets

Another australian broker to make our listing of the top MT4 ECN brokers is FP markets. They have many years of experience in the industry also, having been founded in 2005. This market maker broker offers ECN trading with STP execution to all of its traders and with that brings extensively trusted regulation to the traders through ASIC and cysec.

As a forex trader with FP markets, your trust in opening and trading with them is rewarded through the offering of very low spreads that start from just 0 pips to accompany the lightning fast execution. MT4 is available on the two accounts offered here at FP markets in the form of a standard, and raw account. The minimum deposit also remains appealing and accessible to traders with an amount of just $100 of the equivalent.

5. IC markets

Rounding off our collection of top australian brokers who also happen to be among the best MT4 ECN forex brokers is IC markets. They are among the best known brokers in australia and around the world with their regulation coming through the oversight of both ASIC and cysec. This has garnered a long lasting trust from many traders in IC markets and they are well renowned as a top broker for trading forex in particular.

This positive reputation is bolstered further by the fact that spreads continue to remain competitively low. You can find that these start from just 0.1 pips in many cases across a very wide choice in markets that includes trading in indices, commodities, stocks, futures, bonds, and cryptocurrencies. Another great selling point especially for new traders is the no minimum deposit required, although $200 is recommended by the broker.

6. FBS

FBS are the next broker to make our selection as one of the top MT4 ECN brokers in the industry. They are a household name by now to many forex traders around the world and offer an excellent choice in terms of regulation to traders with both cysec and IFSC oversight in place. The range of markets they offer trading in, as well as the low minimum deposits available help in attracting new traders to the broker in particular.

This FBS minimum deposit is just $1 for a cent account, $100 for a standard account, and $1,000 for an ECN account, with fixed zero account also available at $500. A free demo account and islamic trading accounts are also available. If you are into copy trading, FBS have their own great copytrading platform that is liked by many, and spreads remain great, generally starting from 0.5 pips.

7. Fxpro

One of the absolute best brokers from many points of view. Among many things, fxpro gives you the chance to exploit their advanced NDD network through the MT4 platform. They are a long established name in the industry and the trust of traders here is also bolstered by the FCA regulation in place as well as the fact that fxpro have won more than 60 awards over the years.

They are also attractive to newer forex traders in the sector thanks to the low minimum deposit of just $100 that allows a great deal of accessibility in getting started with an ECN forex broker. The spread too is appealing and that starts from 0 pips on forex. For those looking for choice, fxpro also has a lot to offer. Markets in futures, crypto, shares, indices, and commodities are all open to be traded here.

8. Roboforex

Next on our list of MT4 ECN brokers is roboforex, the famous cypriot broker. Roboforex offers both an ECN system and a hybrid system, so make sure you’re choosing the right account. They are also regulated by two of the top regulatory bodies in the forex world in the form of both cysec and the IFSC of belize providing more options for traders to consider.

When you have opened your account, you will find that there are 5 specific account types available with a competitive minimum deposit starting from only $10. This includes the ECN accounts where trading spread starts from a very attractive 0 pips on some markets. If you are regulated outside europe by the IFSC you can also benefit from a host of bonuses, while rebates on trades are available worldwide. The proprietary copy trading platform provided is also well-liked by the many roboforex traders who use it.

Best MT4 forex brokers 2021

Metatrader 4 (MT4) is the most popular forex trading software and is supported by 98% of forex brokers. While there is now a newer version (called metatrader 5, or MT5), MT4 is still widely recognised for its trade execution speeds, charting tools, customisability and overall brilliance.

Avatrade - best overall broker

XM - most trusted broker

IG markets - best trading conditions

Pepperstone - most assets available

Easymarkets - best education

Best MT4 brokers

Last updated on 1 nov 2020

Updated 1 nov 2020

All brokers regulated

XM group has achieved substantial growth since opening in 2009, earning 1.5 million clients in 196 countries. Xmвђ™s operational philosophy is aimed at client satisfaction and low client turnover; they earn client loyalty through award-winning 24/5 personal customer service, varied account types and competitive trading conditions.

Regulated the FCA, cysec and ASIC and the recipient of many industry awards, XM group stands out from a crowded field of market maker brokers for their customer service and educational support.

One of our highest rated brokers, IG markets is a market-maker with only the single account for forex trading, but spreads are tight and educational and analytical materials are excellent. A wide choice of platform (including MT4) is also available and customer service is world-class.

With regulation from the FCA and ASIC, and winner of the broker of the year 2018 (UK forex awards) and best CFD provider 2017 (investment and wealth management awards), IG markets is an attractive choice for both beginner and experienced traders.

Founded in 2010, pepperstone is an australian ECN broker known for tight spreads, ultra-fast trade execution and broad platform support. Pepperstoneвђ™s award-winning, 24-hour support provides the foundation for its excellent customer service, where personalised assistance is available via several methods.

As our highest rated pure ECN broker, if you want to pay a small commission for tighter spreads, you wonвђ™t find a better broker than pepperstone.

Founded in 2001, easymarkets has always innovated, introducing tools like negative balance protection and guaranteed stop-loss before anyone else. This innovation has continued with its unique easytrade, freeze rate and dealcancellation tools, all intended to assist new traders and keep trading transparent and simple.

Easymarkets still provides the strong basic services expected from a broker while constantly innovating to meet the greater expectations of the client base.В with simple account types, a strong variety of platforms to support traders, and a 50% deposit bonus for new traders, easymarkets is easy to recommend.

Axitrader is an ASIC and FCA regulated ECN broker for serious traders. While the trading platform choice is limited to MT4, axitrader has received industry recognition for their setup including best MT4 broker 2018 (compare forex brokers australia) and best MT4 provider 2018 (UK forex awards).

Both accounts at axitrader require no minimum deposit, though a minimum of 200 USD is recommended. Spreads are tight, commission on the pro account is competitive, and educational and analytical support is good for beginners.

Founded in 2012, bdswiss is a responsible and well-regulated broker, popular with both beginner and experienced traders. It offers account types suitable for both beginners and more experienced traders, including a raw account with spreads down to 0 pips.

MT4 and MT5 are both supported and educational and analytical material are both excellent. More experienced traders will also find a lot to like with the VIP and raw accounts, including free autochartist and one-on-one support. Deposits and withdrawals are generally free and fast and with award-winning trading conditions, bdswiss is a good choice for all traders.

IC markets presents itself as the best and largest true ECN broker. It is ASIC and cysec regulated and offers the metatrader4, metatrader5 and ctrader platforms. IC markets is highly recommended to both new and experienced traders looking for faster execution and tighter spreads.

Beginner traders will find the IC markets account structure welcoming and simple to understand. IC markets understands customer retention involves a combination of tighter spreads, cutting edge technology, fast trade execution and top quality customer service.

What is MT4?

MT4 is the most popular forex trading platform in the world and has been for the last fifteen years.

98% of forex brokers offer MT4 trading accounts

The launch of MT4 in 2005 changed the retail forex industry almost overnight. It offered retail forex traders an institutional-grade tool: anyone with an internet connection was now on equal footing with professional forex traders. 15 years later, MT4 is still the industry standard for several reasons:

MT4 is the lowest-latency and a highly customisable trading platform, complete with a cutting-edge charting suite offering market charts overlaid with indicators from mt4вђ™s library.В

MT4 allows users to build or buy expert advisors (eas), indicators, and other algorithmic trading tools using MQL4.В

Mt4вђ™s algorithms and customisable charts allow retail traders to analyse market movements with precision and speed. Trades can then be made in an instant due to the platformвђ™s execution speed.

MT4 is available on mobile, tablet, in a web browser and as a downloadable application.

This versatility makes MT4 the worldвђ™s leading trading platform.

MT4 pros and cons

Before you decide on whether to use an MT4 broker we need to look at the advantages and disadvantages of the MT4 platform.

Customisable layout provides a stable and personalised trading experience.

Advanced charting allows traders to combine technical analysis and trade management from within the chart view.

One-click trading. In fast-moving markets, traders can execute trading decisions quickly.

The lowest-latency platform available. Trade execution speeds will also depend on internet connection speed.

Built-in scripting tools allow users to build or buy expert advisors (eas), indicators and other algorithmic trading tools.

Over 2000 free indicators available in the metatrader code hub.

Traders can move between brokers without losing any customised changes to the platform. MT4 can also support multiple brokers and multiple accounts from the same broker.

Social trading integration, available with a free subscription. Trading signals let you to automatically copy the trades of other traders.

High secure. All information between client and server is 128-bit encrypted, and it also supports RSA digital signatures.

Widespread use. Most brokers will offer it, and it is well supported. If you have a question, someone will have answered it вђ“ if you have a problem, someone will have solved it.

MT4 runs smoothly on all modern computers and is happy even on old systems.

MT4 runs smoothly on all pcs, even old ones

В cons

It is old. It looks like a program from 2005. If you want a trading platform that looks nice this is not your platform

It lacks native integration of news and economic data, though this can be added via plugins. В

While MT4 can run on macs with a few tweaks, it willв only run on mac OS versions priorВ to catalina (version 10.15, released in 2019).

MT4 is not compatible with MAC OS catalina

MAC OS catalina only supports 64bit applications and as MT4 is a 32bit application, it is not compatible. For earlier versions of mac OS, the safest way of getting MT4 to run is to install a windows emulator called wine (a tool for unix-based systems to run an application developed for windows) along with fonts and the graphical interface. Wine is a great tool, but not necessarily the most stable and your experience can suffer as a result.

Should I use MT4?

If you are just starting your trading career you should consider moving straight to MT5 or ctrader instead. But, if you have been using MT4 and you are happy with it then keep on using it.

MT4 is old, and metaquotes is actively trying to get forex brokers to switch to MT5. MT4 is still the industry standard, but it will eventually be replaced. MT5 and ctrader also have more built-in functionality and have a more modern, cleaner layout.

But if you have been using MT4 for some time, then your version is probably heavily customised. Algos built for MT4 will not function in MT5 or ctrader, so any customisations you have made will be lost.

Algos built for MT4 will not function in MT5

MT4 will eventually be replaced, but its popularity means that is not going to happen anytime soon. But if you want to move to a more modern platform, or you are just starting out then you should check out MT5 or ctrader.

What is the difference between MT4 and MT5?

The significant change is that MT5 has native support for shares, futures, and commodity trading, whereas MT4 does not. MT5 also has a new scripting language, MQL5, which allows for more rigorous backtesting of algorithms and more advanced trading robots. It is important to note that trading algorithms built for MT4 will not run in MT5 (and vice versa) due to the incompatibility of their scripting languages.

The MQL5 scripting language allows for more advanced trading robots and more accurate backtesting

MT5 also boasts a cleaner interface and comes with an integrated news feed and more charting capabilities.В additionally, MT5 is finally seeing serious support from the industry, with some brokers ditching MT4 entirely in favour of the newer version.

Which MT4 broker is best?

IG marketsв is the best MT4 broker. With excellent MT4 technical support for beginners, both FSCA and ASIC regulation and competitive trading conditions, they have the product offering to come top of a long list of MT4 brokers.

Conclusion

Metatrader 4 is central for so many traders in their development towards becoming professional traders. It will be here for many years to come and will continue to help new traders launch a trading career. If youвђ™re trying to get the most out of your charts and focus without the distraction of fancy tools, then it remains a candidate to satisfy 90% of all your trading needs.

Forex risk disclaimer

Trading forex and cfds is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products.В

Forex and CFD transactions involve high risk due to the following factors: over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (learn more from theв FCAВ or fromв ASIC)

Our methodology

Ourв state of the market reportв andв broker directoryв are the result of extensive research on over 100 forex brokers. The explicit goal of these resources is to help traders find the best forex brokers вђ“ and steer them away from the worst ones вђ“ with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal.В

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more aboutв how we rank brokers.В

Best metatrader 4 (MT4) forex brokers 2020

MT4 forex brokers are the largest group of forex brokers.

Due to the popularity of the MT4 platform, almost every broker (about 95% of them) offers MT4.

It could be a bit overwhelming to find a broker based only on MT4 criteria. Thus, adding such parameters as minimum deposit, broker type (ECN, STP or market maker), as well as regulatory status can help narrow down the search.

However what are the best metatrader forex brokers in 2019? Below we will detail everything you need to know about MT4.

The largest list of forex brokers that offer metatrader 4 (MT4) platform:

Did we miss any MT4 forex broker?

Please suggest by adding a comment below.

What is metatrader 4?

Source: svilen_mitkov | shutterstock.Com

Also known as MT4, it is the most popular trading platform within the forex industry, especially for new traders. Launched in 2005 by metaquotes, the platform is licensed to forex brokers so they can offer charting and liquidity services to their clients.

Metatrader 4 is a platform that allows you to trade forex without the need for complex systems. After opening the MT4 terminal, you will be able to open and close positions in just a few clicks, change languages, chart types, colors, and add default orders with no problems.

According to metaquotes, metatrader has been used by millions of traders around the world. Thousands of experts advisors, trading signals, and other services have also been implemented in the platform since its release now almost 15 years ago.

Why is MT4 so popular

Metatrader is considered as the gold standard of the trading platforms, but why? Traders, especially beginners appreciate the easy flow of the experience and how they can implement robots and different strategies without extreme difficulties.

While some brokers also offer different platforms, including their own proprietary software, in-house online trading platforms are static and don’t allow many changes. The MT4 ecosystem enables you to install robots, test software, run backtests, change everything in the layout, and implement as many technical indicators as you want.

Another excellent point with MT4 is that the software is always the same no matter which broker you are using. Of course, you can find minor differentiations, but overall you are going to see the same platform in every broker. So you will avoid the learning curve that may cost you money and time.

Why choose a metatrader forex broker?

Both the beginner and advanced traders choose MT4 instead of other platforms because the platform is easy to use, provides relevant information, and customizable to personal preference.

If you are a beginner trader, you may want to try a demo account. This will allow you to better learn the basic features of analysing charts and placing trades. Doing this in a risk-free environment before going into the live markets.

As an advanced trader, the MT4 platform will allow you to automate your trading strategy and implement it in the trading console. It also provides you with a personal computer and mobile experience in windows, mac OS, and linux.

MT4 platform remains to be the leading forex platform

MT4 is far not the only forex platform available today. But nevertheless, it remains to be a firm leader and a choice of almost 90% of forex brokers.

Interestingly that even those forex brokers who used to offer and promote only own successful proprietary platforms (GFT broker offered dealbook360, OANDA – fxtrade) – even they finally made a decision to add MT4 to their trading platform collection. Was that a decision based on a market trend and traders preferences & support requests – most likely yes.

Source: syafiq adnan | shutterstock.Com

We can’t ignore (and forex brokers can’t ignore it either) that MT4 platform took over the trading world, and there was one key feature to “blame” – MT4 platform allows creating custom indicators and expert advisors; and although there are many platforms that also allow this, MT4 has managed to outperform every single one of them by the tremendous number of MT4 indicators and eas being written for it. Many MT4 indicators and eas are also free – there is a huge MT4 community codebase: https://www.Mql5.Com/en/code/mt4 where thousands of indicators can be found. Does this attract novice traders who never used MT4 before – most definitely yes!

That’s why forex brokers continue to choose MT4 platform in order to always satisfy needs of the diverse forex trading community.

Also check out the MT4 ECN forex brokers list featuring MT4 platforms with an ECN bridge.

Best forex brokers 2021

Below is ranking of what we think are the best forex brokers overall.

Pepperstone – awarded as the “top forex broker overall“

XM – best MT4/MT5 forex broker

XTB – best CFD broker

Forex.Com – best for US traders

Etoro – best social trading platform in the world

79.3% retail CFD accounts lose.

73.57% retail CFD accounts lose.

71% retail CFD accounts lose.

79% retail CFD accounts lose.

73.57% retail CFD accounts lose.

Best forex brokers for forex trading

Pepperstone – best overall and best for range of offerings

Average spreads

XM – best for trading experience

XTB – best for beginners

How to choose a forex broker

What are the best forex brokers ?

The answer is there isn’t one which is the best for everyone but if you take into consideration the points below when choosing one, you will find the best forex trading company that will accomodate to your trading style.

Let us save you lot of time searching and headache! We did the research for you, you will thank us later for!

1) regulation & license

Despite the regulation, there are still many crooks in this business, which can cost you lot of money!

If you trade with a regulated broker, you will gain protection in terms of the safety of your money and the broker will have guidelines on the way your account is dealt with to ensure you get the best service and you can contact the regulatory to settle any disputes you may have.

For example, if you are european union resident, then you should know that any reputable company that operates on european union market should be licensed at least by cyprus cysec regulatory or by the FCA UK.

Besides cysec, the NFA in the USA and the FCA regulated forex brokers registered by the financial conduct authority of the united kingdom are widely seen as the most serious forex companies in the world, although there are now many others, as regulation spreads to more areas of the world. Another well respected regulatory body is the australian securities and investment commission (asic.Gov.Au), we can say that ASIC regulated forex brokers are one of the most reliable companies and usually offer the lowest spreads on the market and the fastest trade execution times, this is mainly due to the fact that australian retail fx market is extremely competitive.

Always aim to choose a regulated forex company, so for example if you live in south africa then you definitely want to choose one of the best south african forex brokers which are regulated by an FSCA regulatory agency. In case you are residing in dubai, then go with the best forex broker in UAE that is DFSA regulated.

KEY TAKEAWAY:
” there is no need to deal with an unregulated forex trading companies so please don’t even consider them! “

2) customer support

Find out what kind of support your potential broker provides.

Do they hide behind anonymous mailboxes or have a real support center in your mother tongue that you speak?

Is their support center located in the same time zone as you,is it somewhere in europe or on the opposite side of the globe ?

Do they have a customer support telephone line where they can be contacted for technical problems? Do they provide online chat support?

Will you be assigned a personal advisor to whom you can contact with trading questions at any time?

For example, etoro provides based on our experience really high quality customer support in 24 languages, including free online forex training.

Read here our comprehensive and probably the most complete etoro review including video tutorials.

3) negative balance protection

In case you posses losing trading positions in your fx trading account, this protects your whole forex trading account against negative balance. It protects you as a retail trader on a per account basis. Meaning, your account will not go into debt, which could potentially happen to many inexperienced traders. Since the forex market can become very volatile in a matter of minutes, the NBT allows you to better manage volatility without having to worry about going into debt!

However you can relax in case you signed up through any of the recommended forex trading companies on this website because ….

As of 1st august 2018 the negative balance protection is mandatory for all retail trading accounts for forex companies that are regulated by the european regulators like cysec or british FCA!

4) your previous experience and trading style

First of all, you should think about your trading style and choose a platform accordingly:

Are you a complete newbie in forex?

Will you trade the most popular currency pair of EURUSD or exotic currencies?

Do you have large capital or do you require a mini / micro account?

Do you use mobile phone for trading?

Do you depend on forex signals?

Are you going to scalp the market?

In case you are about to start trading forex in saudi arabia you will most probably need an islamic account which provides you interest free trading.

5) broker’s financial standing

How much capital does the forex company have behind it – in other words – how strong is its balance sheet? You should take this into consideration when choosing a broker and also the length of the time they have been in business. A broker with a strong balance sheet which has been in business for many years is probably going to be a good broker to deposit your money with. You should always deposit your hard earned cash with a financially strong brokerage only.

6) forex trading platforms – get the most out of your trading

The forex trading platform is also a consideration in terms of its smoothness of operation, reliability, number of currency pairs offered and other extras such as news and technical charting tools. You can easily find out how good the trading platform is by simply opening a demo account and seeing if you like the services.

〉〉 webtrader and ios android trading apps

Almost each forex broker is now offering its own webtrader platform and mobile app for trading. These platforms are containing very basic trading functions and basic charting possibilities. On the other hand, it runs under almost any internet browser and requires no download and installing. The only thing you literally needs is a PC/mac with internet connection or smartphone with installed app.

〉〉 metatrader 4

If you are really serious about trading forex, then you should definitely look for fx broker that is allowing you to trade with metatrader. Metatrader is a standard industry platform and is the most well known and most commonly used and offers security, reliability and a number of analytical features and most brokers will allow you to use it.

Metatrader 4 is used mostly by forex traders, while 5 includes besides fx also ETF, commodities etc.

While many traders want to trade themselves there are many who want to get help and there has recently been a huge rise in social fx trading.

There are many social trading platforms and the concept is simple – you can follow other traders in the network and copy their trades and hopefully make money following their trading signals.

Traders online have been swapping ideas and trades in forums, blogs and social networks for a long time and the idea of following successful traders in a trading network is a logical progression and the growth of this segment of the trading industry is huge and the number of traders participating and the dollars amounts transacted are staggering – let’s take a look at a couple of examples.

Etoro social network is huge with over 2 million traders using it. These platforms are two of the biggest but the idea of following other traders is growing at a rapid rate and new platforms are coming online all the time. For example they allow traders to buy bitcoin in UAE safely.

Most forex brokerages claim their forex trading platform is the best but in terms of the top platforms there is not to much between them and which you like will come down to the services you specifically require as a trader.

TIP: the best way to find out how good a platform is you should try it on a practice account!

7) maximum leverage

The leverage brokers offer vary but they all give you more leverage than you really need and 500:1 leverage is not an advantage! Most experienced forex traders only trade with leverage of 10:1 and all the top brokers, will give you this level of leverage. For example in asia there are some malaysia forex brokers even offer 888:1 maximum leverage. On the other hand, forex corretores in brazil usually offer between 300:1 to 400:1 as this is the most frequently required leverage on brasilian retail fx market. Forex brokers in japan restrict the maximum leverage to only 25:1 due to regulatory requirements.

However the ESMA (european security markets authority) has announced the restrictions on leverage that affects all retail traders residing in european union. As of 1st august of this year no retail forex trader from EU will have more leverage than 30:1 for major currency pairs and 20:1 for

8) price quotes and pip spreads

〉〉 PIP spread

Most of the top trusted forex companies will give you tight pip spreads on all the majors, although there may be more variance on the cross currency pairs. If you are day trader, pip spreads need to be tight, if you are a long term trend follower where a pip a trade will not impact on profitability. You can also check out the quotes offered and price feed but most of the brokers we recommend on this site will have excellent quotes and tight pip spreads.

〉〉 swaps

Sometimes you will have to pay so called swaps overnight fees for keeping the trade open overnight. The cost will depend on the interest rates etc and varies by currency pair and the type of trade whether you go LONG or SHORT. If you are of islamic faith, you can get SWAP free islamic account! Many of the best forex brokers in singapore offer that option.

〉〉 other fees

Some companies charge you account inactivity fees, or withdrawal fees (usually around $20-$50 per withdrawal up to a certain threshold).

9) forex demo account

Always check whether they will allow you to open a forex demo account where you can check how their platform works and get to know it. It is important to know when their demo is valid, some companies only provide a demo platform for a fixed period , that is, the platform is automatically deactivated for example after 30 days. Some companies will allow you to trade on your demo account indefinitely, and you can start trading sharply just when you feel that you know the platform perfectly.

10) minimum deposit

The minimum deposit will vary between online currency brokers some take a $100 dollars minimum and some will be thousands and you need to pick a broker in line with your amount of risk capital. Bigger accounts can of course offer you tighter pip spreads than smaller ones but generally, the difference is not too big and both large and small traders can find a company which will give them a competitive service.

11) deposits and withdrawals of cash & support

Check the deposit and withdrawal features and how quick and easy it is to top up your trading account and also support in terms of operation of your trading account and its best its 24 hour support which all the big forex brokerages do.

12) forex bonus

Many brokerages offer a forex bonus in relation to your deposit but be careful with these because, many have conditions attached to them which mean you have to make a certain number of trades in a set period to qualify for the bonus and many we have seen, make the amount of trading signals you have to transact so big, you are unlikely to make any money! If you are a serious trader, who offers the best trading bonus on your deposit, should not be a major consideration, however in case you are interested we encourage you to check hotforex review and XM offers.

13) market maker or ECN/STP ?

According to a lot of traders, market makers steal your money but if they are regulated this is not the case, the trader is normally just upset he lost. Market makers, don’t have to steal a clients money because they work on the odds that 90% of traders lose money over time so there profits are good over the long term.

ECN brokers are another level of brokerages who utilize electronic communication network which can guarantee almost interbank rates and tight spreads.

Market makers can offer great spreads and services which are as good as a broker who offsets so if the market maker is regulated and you like them, by all means trade with them.

14) news, research and trading signals

There are many brokerages who set themselves up as FX brokers for beginners and try to tempt traders to deal with them by offering dealer support, research and even trading signals and systems to give the trader trades – DO NOT take this into consideration when choosing a platform!

The research is generally terrible and reflects the herd and companies who give you trades, are unlikely to make you money, as they have a conflict of interest – they make money when you trade or lose. The trading systems and signals are the same as a broker assisted account only automated and will not make you any money either. So help in the form of trading currency pairs from a broker is a complete waste of time.

In conclusion…

If you follow the above tips for choosing the best forex platform, you will find one which can give you a window to global currency markets and allow you, to apply your strategy in the world’s most exciting investment – trading global currencies for profit!

Best MT4 forex brokers 2021

FXTM - best overall broker

Octafx - most trusted broker

Avatrade - best trading platforms

Pepperstone - best trading conditions

Marketsx - best research

Axitrader - best education

IG markets - most assets available

Hotforex - best customer service

Best MT4 forex brokers 2021

Last updated on 6 nov 2020

Updated 6 nov 2020

All brokers regulated

FXTM is an award-winning ECN/STP broker popular with beginner traders and experienced traders alike. Its popularity is due to the very wide range of accounts types, from instant execution accounts with very low minimum deposits to ultra-low spread ECN accounts вђ“ MT4 is supported across all account types and MT5 is available on the ECN accounts. An islamic option is available for all account types but only on the MT4 platform.

With recognition from the FCA and cysec, excellent training material, and 24/7 customer support, FXTM is a great broker for all traders.

Octafx is a client-focused, international broker with a loyal following of malaysian traders. The website is fully translated into bahasa melayu and octafx are always running competitions and promotions for malaysian clients; these include a 50% first deposit bonus, demo trading contests with cash prizes and frequent lottery giveaways (prizes include scooters, laptops and other gadgets).

An islamic option is available for all account types and new traders will like the excellent analytical section and range of useful trading tools such as autochartist, copy trading and an account monitoring service that lets beginners learn anonymously from successful traders. Trader education for beginners is well-presented and platform support is almost unbeatable, with MT4, MT5 and ctrader all offered.

Good value, beginner-friendly and hugely respected all over the world, avatrade is one of the most reputable brokers in the industry. With support for the leading trading platforms, great trading conditions on islamic accounts and top-quality multilingual support, avatrade has built a brand on a solid reputation and continues to please its many new and existing customers.В В

Avatrade offers trading in forex, commodities, cryptocurrencies, exchange-traded funds, options, bonds, and equities and is a good choice for any type of forex trader ranging from beginners to scalpers and intraday traders to long-term traders.

Founded in 2010, pepperstone is an australian ECN broker known for tight spreads, fast trade execution and broad trading platform support. As our highest rated pure ECN broker, if you want to pay a small commission for tighter spreads, you wonвђ™t find much better than pepperstone.

Pepperstoneвђ™s award-winning 24-hour support provides the foundation for its excellent customer service, where personalised assistance is available via a number of methods. Itв won the fastest-growing company award (2014) in australia, from BRW magazine and in the same year, emerged as the winner of the governor of victoria export awards cementing its reputation as a serious contender in the industry.

MarketsxВ is a premium trading platform. Itвђ™s operated by markets.Com and offers traders fast, low-cost trading on over 2,200 financial instruments. Marketsx provides CFD trading on global stock, forex, commodity, indices, cryptocurrency, ETF and bond markets. Clients in malaysia can take advantage of the swap-free islamic account on offer.

The proprietary marketxВ trading platform is packed full of features and trading tools and is optimised for lightning execution. As well as in-depth charting and asset comparison tools, marketsxВ also gives traders a wealth of decision-supporting data with sentiment tools, tutorials, and regular live-streamed, expert analysis.

One of the most popular brokers in malaysia, IG markets is a market-maker with only the single account for forex trading, but spreads are tight and educational and analytical materials are excellent. A wide choice of platform (including MT4) is also available and customer service is world-class. Islamic accounts are available, but clients will need to request one from IG markets customer service.

Hotforex is an award-winning, global broker with a reputation for client satisfaction. Increasingly popular with malaysian traders, hotforex has a dedicated malaysian customer service team and its website is fully translated into malay.

Trading conditions are varied across five account types, but spreads are generally tight (and are often zero pips on the market execution account). All accounts are also available as islamic accounts, and hotforex also offers copy-trading and managed accounts.В all clients have a dedicated account manager, and deposits and withdrawals are free no matter the funding method.

XM group (XM) is a full dealing desk broker which offers floating spreads and suits all kinds of traders.В XM offers swap-free islamic accounts as well as a variety of other account types to suit traders.В it is a perfect broker for scalpers, intraday traders as well as long-term traders because of the tight spreads, fast execution times and good analysis software. В XM has a low minimum deposit making this broker accessible for traders just starting out.

Instaforex is an award-winning and well-regulated broker offering a wide variety of account types with good trading conditions and a copy-trading service. With three market execution accounts, one of which is specifically built for scalping, and two instant execution accounts with no minimum deposit (both of which are available as islamic accounts), instaforex will appeal to a wide range of traders.

The market analysis and education sections feature regularly updated content for traders of all experience levels and MT4 is fully supported via download and webtrader.

What is MT4?

MT4 is the most popular forex trading platform in the world and has been for the last fifteen years.

98% of forex brokers offer MT4 trading accounts

MT4 is the lowest-latency and a highly customisable trading platform, complete with a cutting-edge charting suite offering market charts overlaid with indicators from mt4вђ™s library.В

MT4 allows users to build or buy expert advisors (eas), indicators, and other algorithmic trading tools using MQL4.В

Mt4вђ™s algorithms and customisable charts allow retail traders to analyse market movements with precision and speed. Trades can then be made in an instant due to the platformвђ™s execution speed.

MT4 is available on mobile, tablet, in a web browser and as a downloadable application.

This versatility makes MT4 the worldвђ™s leading trading platform.

MT4 pros and cons

Before you decide on whether to use an MT4 broker we need to look at the advantages and disadvantages of the MT4 platform.

Customisable layout provides a stable and personalised trading experience.

Advanced charting allows traders to combine technical analysis and trade management from within the chart view.

One-click trading. In fast-moving markets, traders can execute trading decisions quickly.

The lowest-latency platform available. Trade execution speeds will also depend on internet connection speed.

Built-in scripting tools allow users to build or buy expert advisors (eas), indicators and other algorithmic trading tools.

Over 2000 free indicators available in the metatrader code hub.

Traders can move between brokers without losing any customised changes to the platform. MT4 can also support multiple brokers and multiple accounts from the same broker.

Social trading integration, available with a free subscription. Trading signals let you to automatically copy the trades of other traders.

High secure. All information between client and server is 128-bit encrypted, and it also supports RSA digital signatures.

Widespread use. Most brokers will offer it, and it is well supported. If you have a question, someone will have answered it вђ“ if you have a problem, someone will have solved it.

MT4 runs smoothly on all modern computers and is happy even on old systems.

MT4 runs smoothly on all pcs, even old ones

В cons

It is old. It looks like a program from 2005. If you want a trading platform that looks nice this is not your platform

It lacks native integration of news and economic data, though this can be added via plugins. В

While MT4 can run on macs with a few tweaks, it willв only run on mac OS versions priorВ to catalina (version 10.15, released in 2019).

MT4 is not compatible with MAC OS catalina

Should I use MT4?

If you are just starting your trading career you should consider moving straight to MT5 or ctrader instead. But, if you have been using MT4 and you are happy with it then keep on using it.

Algos built for MT4 will not function in MT5

What is the difference between MT4 and MT5?

The MQL5 scripting language allows for more advanced trading robots and more accurate backtesting

Which MT4 broker is best?

FXTMВ is the best MT4 broker. With excellent MT4 technical support for beginners, both FSCA and ASIC regulation and competitive trading conditions, they have the product offering to come top of a long list of MT4 brokers.

Forex risk disclaimer

Trading forex and cfds is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products.В

Our methodology

Ourв state of the market reportв andв broker directory are the result of extensive research on over 100 forex brokers. The explicit goal of these resources is to help traders find the best malaysian forex brokers вђ“ and steer them away from the worst ones вђ“ with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal.В