Pepperstone
visit Pepperstone
74-89% of retail investor accounts lose money when trading CFDs
Best MT4 Forex Brokers 2023
Top Picks
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IC Markets
visit IC Markets74-89% of retail CFD accounts lose money -
FBS
visit FBS74-89% of retail CFD accounts lose money -
XM
visit XM78.17% of retail investor accounts lose money -
FxPro
visit FxPro72.87% of retail investor accounts lose money -
AvaTrade
visit AvaTrade79% of retail investor accounts lose money -
FXTM
visit FXTM81% of retail investor accounts lose money -
FP Markets
visit FP Markets74-89% of retail CFD accounts lose money -
Admirals
visit Admirals76% of retail investor accounts lose money -
HF Markets
visit HF Markets71.04% of retail investor accounts lose money
We have put together a comprehensive list of the 10 best forex brokers for MT4 to help you choose.
We have taken into consideration these factors:
- If the MT4 platform was available for all the account types offered by the broker;
- The minimum deposit required by the broker to start trading with the MT4 platform;
- The number of currency pairs and minimum spreads available via MT4 platform;
- The availability to try the MT4 with a demo account.
Table of Content
Review
Here’s our general ranking of the best MT4 forex brokers:
Pepperstone : best for overall trading experience
- Pepperstone provides the MT4 platform on all its account types: Razor, Standard, and Swap-Free.
- Pepperstone does not require a minimum deposit to start trading with the MT4 platform.
- Spreads on the MetaTrader 4 platform depend on the account type and start from 0 pips with a $7 commission under the Razor accounts.
- 60+ currency pairs are available through the Pepperstone MT4 platform.
- An MT4 demo account is available for all Pepperstone accounts, for a period of 21 days.
- By using Pepperstone MetaTrader 4 you can engage in algorithmic trading via EAs.
- Pepperstone MT4 traders find a fast latency of around 30 ms and 2 servers to choose from.
visit Pepperstone
74-89% of retail investor accounts lose money when trading CFDs
IC Markets : best for scalpers
- IC Markets provides the MT4 platform on all its account types: Standard, Raw Spread, and Swap-Free.
- IC Markets does not require a minimum deposit to start trading with the MT4 platform.
- Spreads on the MT4 platform depend on the account type and start from 0 pips with a $3 commission per lot under the Raw Spread account. The deep liquidity and the low spread in the MetaTrader 4 platform provided by IC is a great option for scalpers.
- 60+ currency pairs are available through IC Markets MetaTrader 4 platform.
- An IC Markets unlimited MT4 demo account is available for all accounts.
- When using IC Markets MT4 platform you can engage in algorithmic trading via EAs.
- IC Markets clients trading with MetaTrader 4 find a fast execution speed of around 30 ms and 10 servers to choose from.
visit IC Markets
74-89% of retail CFD accounts lose money
FBS : best for beginners
- FBS provides the MT4 platform on all its account types, whose availability depends on your location: Islamic, Standard, and Cent for all traders, while ECN, Micro, and Zero Spread are available for IFSC clients.
- The minimum deposit to use the MT4 platform depends on the account type and on your location. It starts from $1 for IFSC clients and from $10 for CySEC clients.
- Spreads on the MetaTrader 4 platform depend on the account type and start from -1 pips with a $6 commission per lot under the ECN account.
- 35+ currency pairs are available through the FBS MT4 platform.
- An MT4 demo account is available for all FBS accounts for a period of 90 days.
- FBS MetaTrader 4 platform enables algorithmic trading via EAs.
- FBS MT4 traders find a fast latency of around 30 ms and 10 servers to choose from.
visit FBS
74-89% of retail CFD accounts lose money
XM : best for no requotes
- XM provides the MT4 platform on all its account types. Availability of these may depend on your location. Standard, Ultra Low, Zero, Shares, Micro, and Swap-Free are all offered.
- The minimum deposit to use the MT4 platform depends on the account type, starting from $5.
- Spreads on the MetaTrader 4 platform depend on the account type. With the Zero Spread account they start from pips with a $3.50 commission per lot.
- 57 XM currency pairs can be traded via the MT4 platform.
- An MT4 demo account is available for all XM accounts. The demo has an unlimited duration.
- XM MetaTrader 4 allows you to engage in algorithmic trading via EAs.
- XM MetaTrader 4 traders find a fast latency of around 40 ms and 20 servers to choose from.
visit XM
78.17% of retail investor accounts lose money
FxPro : best for customer service
- FxPro provides an MT4 account to all their traders.
- The FxPro minimum deposit to trade with the MT4 account is $100.
- Spreads on the MetaTrader 4 platform can be fixed or floating. Fixed spreads start from 1.6 pips and depend on the time and volatility of the asset. Floating spreads start from 1 pip.
- FxPro clients can choose among over 70 forex currency pairs via the FxPro MT4 platform.
- An FxPro MT4 demo account is available, with a 180 day duration.
- FxPro MT4 clients have the possibility to engage in algorithmic trading via EAs.
- FxPro MetaTrader 4 traders find a fast latency of around 35 ms and 11 servers to choose from.
visit FxPro
72.87% of retail investor accounts lose money
AvaTrade : best for fixed spreads
- AvaTrade offers the MT4 trading platform with all account types
- A $100 minimum deposit is needed to trade with the AvaTrade MT4 account.
- Under the MetaTrader 4 account, AvaTrade charges fixed spreads from 0.9 pips.
- 60+ forex currency pairs can be traded with the AvaTrade MT4 platform.
- An MT4 demo account is available for all AvaTrade clients. The trial period lasts 21 days.
- By using AvaTrade MT4 you can engage in algorithmic trading via EAs.
- AvaTrade MetaTrader 4 clients find a latency of around 80 ms and 7 servers to choose from.
visit AvaTrade
79% of retail investor accounts lose money
FXTM : best for professional traders
- FXTM accepts only professional clients from Europe.
- FXTM provides the MetaTrader 4 platform with all account types including Islamic, Micro, Advantage, and Advantage Plus. The global entity has a greater range of account types.
- The FXTM minimum deposit to trade with the MetaTrader 4 platform starts from $10 depending on the account type.
- MT4 traders will find FXTM spreads from 0.1 pips depending on the account type.
- FXTM clients can trade among 60+ forex currency pairs with the MT4 platform.
- An unlimited MetaTrader 4 demo account is available for all account types.
- FXTM MT4 platform is a great place to engage in algorithmic trading via EAs.
visit FXTM
81% of retail investor accounts lose money
FP Markets : best for low costs
- FP Markets offers the MT4 platform for their main accounts including Islamic, Raw and Standard account types.
- The FP Markets minimum deposit to trade with the MetaTrader 4 platform is $100.
- When using the MT4, FP Markets spreads can start from 0 pips with the Raw Account with a $3 per lot commission.
- 70+ forex currency pairs can be traded with the FP Markets MetaTrader 4 platform.
- An unlimited MT4 demo account is available for FP Markets clients.
- FP Markets MetaTrader 4 platform enables algorithmic trading via EAs.
visit FP Markets
74-89% of retail CFD accounts lose money
Admirals : best for MT4-algo trading
- Admirals offer the MT4 platform on the Islamic, Zero, and Trade accounts.
- The minimum deposit to trade with MetaTrader 4 required by Admirals is $100.
- Spreads on the MT4 platform depend on the Admirals account type chosen: they start from 0 pips with $1.80 per lot traded commission on forex on the Zero Account.
- 40+ currency pairs can be traded via the Admirals MetaTrader 4 platform.
- A 30-days Admirals MetaTrader 4 demo account is available for all clients.
- Admirals XTM MT4 platform is a great place to engage in algorithmic trading via EAs.
visit Admirals
76% of retail investor accounts lose money
HF Markets : best for trading features
- HF Markets provides the MT4 platform on all its account types, which availability depends on your location: Islamic, Premium, Zero Spread, HF Copy for all clients; Micro, Auto, PAMM for SV clients.
- The minimum deposit to use the MetaTrader 4 platform depends on the account type. It starts generally from $100.
- Spreads on the MetaTrader 4 platform depend on the HF account type and start from 0 pips with a $3 commission per lot under the Zero Spread account.
- HF clients can choose from 45 currency pairs on the MT4 platform.
- An unlimited MT4 demo account is available for all HF Markets accounts.
- HF MetaTrader 4 platform allows you to engage in algorithmic trading via EAs.
- HF Markets MT4 traders find a latency of around 30 ms and 7 servers to choose from.
visit HF Markets
71.04% of retail investor accounts lose money
About The Author
Filippo Ucchino
Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.
Best MT4 Forex Brokers 2023
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