MetaTrader 4 (MT4) remains a preferred platform for forex and CFD traders, praised for its intuitive interface, advanced charting tools, and automated trading options via Expert Advisors (EAs). Numerous brokers continue to offer MT4 in 2024, each with their unique benefits. Below, we highlight the leading MT4 brokers to help you find the best fit for your trading strategy.
IC Markets
IC Markets stands out as the top broker for MetaTrader 4 due to its impressive blend of competitive pricing, execution speed, and advanced trading support. Traders enjoy incredibly tight spreads, starting from 0.0 pips, which is especially attractive to high-frequency traders and scalpers focused on reducing costs. Its ECN (Electronic Communication Network) accounts ensure fast and reliable trade execution, perfect for traders using automated systems like Expert Advisors (EAs).
IC Markets offers an extensive range of trading assets including forex pairs, commodities such as oil and gold, indices, and cryptocurrencies, giving traders ample opportunities to diversify. The broker’s deep liquidity ensures minimal slippage, even in volatile markets, making it an excellent choice for professional traders requiring accuracy and speed.
IC Markets’ commission structure is one of the most affordable in the industry, with fees as low as $3 per lot. Offering leverage up to 1:500, traders can control large positions with smaller capital, allowing flexibility in managing risks and maximizing market movements. With a minimum deposit of $200, IC Markets is accessible to beginners and advanced traders alike.
Pepperstone
Pepperstone is highly regarded by experienced traders using MetaTrader 4 (MT4), particularly for its strong support for algorithmic trading, including Expert Advisors (EAs). The platform’s low-latency execution and access to various account types cater to a range of trading styles, from scalping to long-term strategies. The Razor Account, in particular, offers tight spreads starting from 0.0 pips, making it perfect for those aiming to minimize trading costs.
Beyond MetaTrader 4, Pepperstone supports other platforms like cTrader and TradingView, giving traders the freedom to choose their preferred interface for algorithmic trading or advanced charting. The broker’s fast infrastructure ensures that trades are executed swiftly, making it suitable for high-frequency traders using automated strategies.
Pepperstone’s pricing is highly competitive, with a $3.50 commission per lot on its Razor Account and leverage options up to 1:500. A $200 minimum deposit makes it accessible to both intermediate and experienced traders. Pepperstone also excels in customer service and educational resources, further enhancing its reputation as a top broker.
Tickmill
Tickmill offers a great option for traders seeking low-cost trading on MetaTrader 4 (MT4). The broker provides commission-free trading on Classic accounts, which appeals to beginners and cost-conscious traders. More experienced traders can benefit from the Pro and VIP accounts, which feature some of the lowest commissions in the market. Spreads on Pro Accounts start from 0.0 pips, making Tickmill highly competitive for forex traders.
Tickmill is known for its fast trade execution, essential for day traders and scalpers who depend on precision and speed. Its robust infrastructure ensures trades are executed with minimal delay. Additionally, Tickmill is regulated by multiple reputable agencies, including the UK Financial Conduct Authority (FCA), adding an extra layer of trust and security for traders.
With leverage up to 1:500 and a minimum deposit of just $100, Tickmill provides flexibility and accessibility for both novice and professional traders. The combination of low trading costs, quick execution, and strong regulation makes Tickmill a reliable broker for MT4 users.
FP Markets
FP Markets is a top broker choice for algorithmic traders and scalpers using MetaTrader 4 (MT4). Its ECN pricing model allows for tight spreads and fast trade execution, ideal for those using scalping strategies or relying on Expert Advisors (EAs). Spreads on the Raw ECN account start as low as 0.1 pips, offering some of the best pricing in the industry.
FP Markets also offers advanced charting tools and custom MT4 plugins, making it a powerful platform for traders looking to customize and optimize their strategies. With access to over 60 forex pairs and a variety of assets like commodities and indices, traders can easily diversify their portfolios.
Offering leverage of up to 1:500, along with a $3 commission per lot on the Raw ECN account, FP Markets provides a cost-effective environment for traders. The low $100 minimum deposit ensures the platform is accessible to both beginner and experienced traders.
FOREX.com
FOREX.com is well-known for its extensive research tools and educational resources, making it an ideal platform for beginner and intermediate traders still refining their skills. FOREX.com provides a full suite of MetaTrader options, including both MT4 and MT5, along with supplementary tools like Trading Central and FX Blue. These tools help traders conduct market analysis, gain insights into market sentiment, and refine their trading strategies.
With access to a wide range of instruments, including forex pairs, commodities, indices, and even cryptocurrencies, FOREX.com is perfect for traders seeking diversification. The broker’s competitive spreads start from 0.8 pips, especially on its standard accounts with no commission fees. This cost-effective structure is particularly beneficial for beginner traders who want to avoid complex fee structures.
FOREX.com also offers leverage of up to 1:200, giving traders the flexibility to handle larger positions with smaller capital. Combined with a low minimum deposit of just $100, the platform is accessible to a wide range of traders. FOREX.com’s educational content, including webinars, tutorials, and market analysis, further strengthens its appeal to traders looking to improve their skills while using a reliable MT4 platform.
FXGlory
FXGlory is distinguished by its high leverage and simplicity, making it suitable for beginner and intermediate traders using MetaTrader 4 (MT4). With leverage as high as 1:3000, one of the highest in the industry, traders can control larger positions with a minimal capital outlay. This is particularly appealing to those with a higher risk tolerance or those aiming to maximize position sizes.
In addition to its high leverage, FXGlory offers access to a broad range of instruments, including forex pairs, commodities, indices, and cryptocurrencies, allowing traders to diversify. The MT4 platform provided by FXGlory is equipped with essential features like technical indicators, charting tools, and automated trading via Expert Advisors (EAs), catering to various trading styles.
FXGlory also stands out for its low minimum deposit, starting at just $1, which makes it accessible to new traders entering the market. While the broker offers competitive spreads starting from 0.7 pips, it does not charge any commissions, simplifying cost management for new traders. However, spreads may widen during periods of low liquidity.
FXGlory offers additional bonuses that can increase trading capital, appealing to traders looking for extra value. Although its educational resources are limited compared to larger brokers, FXGlory provides basic materials suited for beginners learning about forex trading. With these features, FXGlory is a great option for traders prioritizing high leverage and simple account management.
AvaTrade
AvaTrade is a well-established broker offering a comprehensive MetaTrader 4 (MT4) trading experience. AvaTrade is regulated across multiple jurisdictions, including Europe, Australia, and Japan, ensuring a secure and transparent trading environment. This is especially important for traders prioritizing safety and transparency.
AvaTrade’s MT4 platform gives traders access to a wide variety of financial instruments, including forex pairs, commodities, indices, cryptocurrencies, and stocks. The platform offers advanced trading tools and automated trading through Expert Advisors (EAs), allowing traders to automate their strategies and optimize their trades.
A key feature of AvaTrade is its commission-free structure, where traders only have to consider the spreads, which start from 0.9 pips for major currency pairs. This makes cost management straightforward, especially for beginners. AvaTrade also offers leverage up to 1:400, allowing traders to control larger positions while managing their risk effectively.
AvaTrade also excels in its educational offerings, including webinars, tutorials, and in-depth market analysis, making it a valuable platform for new traders seeking to improve their skills. Its educational content is designed to help traders of all levels better understand the markets and make more informed trading decisions.
XM
XM is a globally recognized broker that offers MetaTrader 4 (MT4), making it a top choice for both beginner and advanced traders. XM is regulated by multiple authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC), providing a high level of security and trust for clients.
XM offers a powerful MT4 platform with over 1,000 trading instruments, including forex pairs, commodities, indices, and stocks. The platform offers fast execution speeds without re-quotes or rejections, making it a reliable choice for traders needing quick execution. Additionally, the MT4 platform supports one-click trading and Expert Advisors (EAs), making it suitable for both manual and automated trading strategies.
XM stands out with its flexible account types, including Micro, Standard, and XM Zero accounts. Traders can choose an account that suits their trading style, whether they’re beginners starting with small amounts or professionals looking for lower spreads and costs. XM offers competitive spreads starting at 0.6 pips, while its XM Zero account offers spreads as low as 0.0 pips with a commission of $3.50 per lot, appealing to active traders.
With leverage up to 1:888, XM gives traders the flexibility to control larger positions, although this may vary depending on regulatory jurisdiction. With a minimum deposit of just $5, XM is accessible to traders at all levels. XM also provides educational resources, including webinars and video tutorials, making it a valuable choice for traders looking to improve their trading skills.
FXPro
FxPro is a highly rated MetaTrader 4 (MT4) broker, known for its exceptional trading conditions and wide range of available assets. Regulated by multiple financial authorities, including the UK’s Financial Conduct Authority (FCA) and Cyprus Securities and Exchange Commission (CySEC), FxPro is a trusted broker in over 170 countries.
FxPro provides a fully integrated MT4 platform that supports various asset classes such as forex, commodities, indices, futures, stocks, and cryptocurrencies. With spreads starting as low as 0.6 pips on major currency pairs, FxPro offers a cost-effective trading environment. The platform also supports automated trading with Expert Advisors (EAs), allowing users to develop and execute algorithmic trading strategies. Additionally, FxPro provides advanced charting tools and multiple order execution options, giving traders more flexibility in managing their trades.
A key feature of FxPro is its fast execution speed, with no dealing desk intervention, ensuring reliable trade execution. FxPro also offers different execution models, such as instant and market execution, depending on the trader’s preferences. The broker’s pricing is transparent, with low commissions on ECN accounts, while other accounts offer commission-free trading.
FxPro provides leverage of up to 1:500, allowing traders to control larger positions with a smaller capital outlay. With a minimum deposit of $100, FxPro is accessible to a wide range of traders. The broker also offers extensive educational resources, including webinars and tutorials, making it especially useful for novice traders looking to build their trading skills.
OctaFX
OctaFX is a highly regarded broker offering a reliable MetaTrader 4 (MT4) experience. Regulated by the Cyprus Securities and Exchange Commission (CySEC), OctaFX is known for providing a transparent and secure trading environment to traders worldwide.
OctaFX offers a wide range of trading instruments, including forex pairs, indices, commodities, and cryptocurrencies, giving traders plenty of opportunities to diversify. The MT4 platform comes equipped with customizable charting tools, technical indicators, and support for Expert Advisors (EAs), making it suitable for manual and automated trading strategies.
One of OctaFX’s key advantages is its low-cost trading structure. With spreads starting from 0.6 pips and no commissions on standard accounts, it is ideal for traders looking to minimize trading costs. OctaFX also offers leverage up to 1:500, allowing traders to control larger positions with less capital.
OctaFX is known for fast execution speeds, minimizing slippage, which is crucial for high-frequency traders and scalpers. With a minimum deposit starting at just $25, it’s highly accessible for beginner traders. In addition, OctaFX provides educational resources like webinars and tutorials, helping traders improve their knowledge and strategies. fast execution, and educational support makes OctaFX an attractive choice for traders using MetaTrader 4.
What MT4 Broker Should I Choose?
Choosing the best MetaTrader 4 (MT4) broker ultimately depends on your trading style and preferences. Whether you’re an algorithmic trader leveraging Expert Advisors (EAs), a scalper requiring ultra-tight spreads and rapid execution, or a cost-conscious trader seeking low trading fees, there is an ideal MT4 broker for you. Among the top 10 brokers mentioned, IC Markets, Pepperstone, Tickmill, FP Markets, and FOREX.com all provide robust platforms, competitive pricing, and solid regulatory frameworks.
For traders looking to keep trading costs low with fast execution, IC Markets and Tickmill are strong options. Pepperstone and FP Markets shine for those focused on advanced tools and algorithmic trading support, while FOREX.com offers outstanding educational resources for traders who are still refining their strategies. Selecting the right MT4 broker can significantly enhance your trading experience and help align with your specific goals and strategies.