Do you want to find the best MT4 forex broker around?
Do you want to know what are the best specifically in UK or Australia?
If you do, then this is the perfect place to begin your search.
We have put together a comprehensive listing of the top 10 best forex brokers for MT4 to help you choose.
MT4 is one of the most respected trading platforms in the entire industry. It has been around for well over a decade and continues to be used by almost all of the best forex brokers. It has become a key part of the offering when you are choosing your next broker.
The top MetaTrader 4 forex brokers offer access to the trading platform, and some of the most top quality conditions which you will find. They will also in many cases offer access to MT4 in many varieties. This includes on desktop, through the webtrader, or any of your mobile devices.
The 10 brokers who we have chosen not only offer the best access to the platform, but also possess a selection of other top features, and are all highly trusted and transparent within their operations. This is another one of our top priorities for you as a trader beyond selecting the best MT4 forex broker possible.
(This post is part of the best forex brokers series)
Top 10 Best MT4 Forex Brokers Listing for 2019
Here’s our general ranking of the best MT4 forex brokers:
What is MT4?
MT4 is short for MetaTrader 4 and it is a trading platform which was developed and is run by MetaQuotes Software. It was launched in 2005 and has grown to become the standout most trusted and well-recognized trading platform in the industry.
The MT4 platform provides the very best in trading capabilities to the forex market from both the broker and trader side. The platform itself features both a server, and client interface to serve the needs of both with ease and reliability. The server side is controlled by the broker, while the trader manages the client side of the software. The nature of the platform also provides it with fantastic ability to be customized and crossover for use with all brokers who facilitate it.
Is mt4 safe?
The simple answer here is yes. Absolutely. MetaTrader 4 has been around since 2005 and is one of the safest and most trusted platforms around. It features 128 bit encryption to make it ultra-secure.
Beyond the long standing reputation that brings huge trust, it can also be testament to the trustworthiness of your broker. A forex broker must pay $100,000 up front plus a $15,000 monthly fee to provide MT4 to clients. This demonstrates that your broker is investing in traders, and also that the platform is one of the best, and safest in the business.
Products with MT4
The major focus of MT4 is CFDs. This means the majority of brokers who utilize MT4 will also be able to offer you many CFD markets on assets like forex, shares, commodities, and others. Utilizing MT4 has the power to expand the range of assets a broker can offer greatly. With that said, each broker has their own catalogue of markets offered, so this will vary depending on your choice.
MT4 Key Characteristics
Some of these key points have worked together positively to make MT4 the popular trading platform it is today. The platform is very user-friendly and easy to navigate from the first time you open it. They also have a wide variety of built in support features and cater for a number of languages to ease the process.
One of the most mentioned characteristics of MT4 is the fact it is highly customizable and provides for the widest range of technical indicators and professional charting capabilities in the sector.
Expert Advisors (EAs) with MT4
Another leading point about MT4 that attracts many, particularly experienced traders is the fact they can engage in auto trading with MT4. Codes implemented in the MQL4 language (MetaQuote Language) can be applied within the platform.
This autotrading software or coding creations are referred to as EAs (Expert Advisors) and can be used to automatically execute trades in a particular way, or create new charting capabilities and indicators. Everything can also be shared among a huge community within the MQL forums for download and installation of other traders. This kind of community development and support is another big reason for the success and longevity of MT4.
How to get started with MT4
Getting started with MT4 is actually quite simple if you follow these few easy steps:
MT4 is a very light software in the sense that almost all computers at any performance level nowadays can run the platform with ease. You can download directly from the MT4 website, or sign up with a broker offering the platform and download from there.
Sign in with the broker supporting MT4
Once you are on board with a broker, you can get started with your MT4 trading account. You can try a demo account with most brokers and once you are inside, you will easily find a download link for the MT4 trading platform.
Once you have downloaded the platform from your selected broker, the last step is to check your email. Here you will find one from your broker that includes a server address and password for use with their version of MT4. Once you input these details to login to MT4, the platform will direct you to your particular broker and account.
The whole process from download to sign-in is simple and should take not much longer than 10-minutes in total to get started.
MT4 pros and cons
Like every trading platform on the market, you will undoubtedly find some great, and not so great points about MT4. Here are a few we have noted:
- MT4 is really light and easy to run. It will run on basically any computer without problem.
- Despite its age, it remains one of the most user-friendly trading platforms around.
- The ability to heavily customize charts and tools to your need appeals to many traders.
- It is absolutely one of the safest, most respected trading platforms available.
- The product range can be limited, with margin trading only with CFDs and other derivatives. This may not be enough for some traders.
- The execution speed can be a fraction slower than some platforms available.