Looking for the top broker with MetsTrader 4? After testing 80 brokers this year, our experts have identified the 12 best options tailored to diverse trading needs. complete with practical tips.
Our team of experts has identified each broker’s strengths and weaknesses using FXEmpire’s comprehensive methodology. Here’s how we test.
Now let’s dive into the selected brokers.
FP Markets was founded in 2005, in Australia and has become a leader in the Forex and CFD market. The broker has entities authorized and regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) but does have an entity based in St. Vincents and the Grenadines which is unregulated.
From our research, we found the broker provides access to MT4 across multiple devices and a feature-packed proprietary mobile trading app. The broker also provides access to a custom-built application to use MetaTrader 4 via MAC, allowing MAC users to access algo-trading capabilities.
We explored FP Markets’ additional offerings and found that it offers its clients MT4 Advanced Trade Assistance Apps. These are extra tools and indicators that can be downloaded into MT4 and includes an alarm manager, correlation matrix, market manager, stealth orders, a mini terminal, and sentiment trader indicator.
We also found that users can access Autochartist from the MT4 platform. This is a third-party tool that integrates with MT4 and provides actionable trading opportunities in real time across forex, metals, indices, commodities, and cryptos.
From our examination of the broker’s wide variety of trading accounts in the full FP Markets review we conducted, we found the live spreads on the commission-free standard account were very competitive and better than the industry average. The live spread for EURUSD during the London open was 1.15 pips.
Exness was founded in 2008 and has a unique offering for trading cryptocurrency using leverage. The broker has entities authorized and regulated by the Financial Services Authority (FSA) of Seychelles and the BVI Financial Services Commission with a wide range of account types to choose from to trade on leveraged cryptocurrencies, as well as forex, indices, stocks, and commodities.
From our testing, we found that Exness provides access to 35 cryptocurrencies which include well-known coins such as Bitcoin and Ethereum as well altcoins. An interesting feature we found was that you can trade some coins against a range of fiat currencies including the USD, EUR, AUD, JPY, THB, ZAR, and KRW.
You can also deposit funds into an Exness trading account using cryptocurrencies such as Bitcoin, USD Coin, and Tether. Another unique feature we found in our testing is that you can trade cryptocurrencies with zero swap fees – this means there is no overnight fee to hold a position over to the next day.
The average spread for BTC/USD on a commission-free trading standard account is 216.40 pips which is higher than some other brokers. On the commission-free pro account, the spread averages 135.20 pips which is closer to the industry average.
You can trade cryptos with Exness from the MetaTrader 4 platform for Windows and Web. MAC users will need to find their own solution to run MT4 Windows on their computer, use the MT4 Web Trader, the Exness Trader App, or Exness Web Terminal. The MT4 platform comes with all the standard features but no additional plugins.
Founded in 2011, OCTA has two corporate entities. Octa Markets Inc. is registered offshore with the St. Vincent and the Grenadines Financial Services Authority (FSA). Octa Markets Cyprus Ltd. is regulated by the top-tier Cyprus Securities and Exchange Commission (CySEC).
From our analysis, you can trade on 35 currency pairs, 150 shares, 10 indices, 3 energies, and 30 cryptocurrencies. With Octa Markets Incorporated, we analyzed the live spreads on its standard account and found them to be very competitive for currencies and better than the industry average.
The live spread for EUR/USD during the London open was 1.1 pips. The standard account also charges zero commission and zero swap fees, making the overall trading fees paid very low.
From our examination, MetaTrader 4 is only offered by Octa Markets Incorporated. With this entity, the MT4 platform can only be downloaded onto Windows or used via a browser through MT4 Web Trader. There is no custom solution for Apple MAC users who will need to download another program to run Windows programs on their MAC.
Advanced traders can take advantage of high leverage levels and advanced analysis using the AutoChartist MetaTrader plugin.
Swissquote Group Holding SA is a Swiss bank leading the way in transparency and safety for brokers. Founded in 2000, the public bank is listed on the SIX Swiss Exchange and employs more than 1,000 people with offices and operating licenses from around the world in Gland, Zurich, London, Luxembourg, Malta, Dubai, Singapore, and elsewhere.
With Swissquote users can trade 400+ markets across spot forex, forex options, indices, stocks, commodities, and bonds from the MetaTrader 4 and MetaTrader 5 trading platforms, as well as its own web-based Advanced Trader platform.
You can use the Swissquote MT4 and MT5 platforms for automated trading capabilities. It includes access to a built-in editor to develop and test your strategies and the ability to download free Expert Advisors (which are essentially automated trading robots) or paid ones to run an algo trading system.
From our examination, you can also access additional plugins for more advanced trading features on top of the standard MT4 platform. The Swissquote MT4 Master Edition provides access to 15 more new indicators and 12 advanced tools such as stealth orders, a correlation matrix, and a mini-terminal for portfolio management.
We tested the trading fees of Swissquote using the standard account. We found that forex spreads were higher than the industry average of 1.0 pip. During the London open, we found the EUR/USD spread to be averaging 1.5 pips. Tighter spreads are available on some of the other account types but these require much higher minimum deposits.
FXTM was founded in 2011 and is regulated by the UK FCA, CySEC, FSCA, and the FSC Mauritius. Over 250 markets can be traded from the MT4 and MT5 trading platforms on desktop, web, and mobile. MT4 also includes advanced functions such as copy trading and automated trading.
The Advantage account offers spreads from 0.0 pips with a competitive commission of $2.50 per lot per side, beating the industry average of $3.50. The Advantage Plus account offers commission-free trading. In our live test, I found the spread for EUR/USD averaged 2.0 pips, higher than the 1.08 pip industry average.
The FXTM Invest copy trading portal offers strategy manager rankings and a strategy manager news feed. Each strategy manager has detailed performance metrics to help identify the best to follow. Opening an Advantage account allows traders to become strategy managers and earn a share of followers’ profits, up to 30%.
Errante was founded in 2019 and offers a great range of account types for all types of traders. Licensed by CySEC and the FSA of Seychelles, users have the ability to trade on forex, indices, commodities, cryptocurrencies, and shares from both the MetaTrader 4 and MetaTrader 5 trading platforms. MT4 can be used via Windows, Mac, Web Trader, or Android mobile apps.
The MT4 platform offered by Errante is the standard version which comes with 30 built-in indicators, 24 analytical tools, the ability to view 9 different timeframes, and 1-click trading options. Users can also use Errante’s MT4 platform for algorithmic trading.
Errante offers a range of different account types which include:
Errante’s fees were found to be competitive as its Standard Account spreads averaged 1.5 pips with zero commission. The Standard, VIP, and Premium account offers maximum leverage of up to 1:500 and the accounts can be funded in USD or EUR.
Tickmill was founded in 2014 but has gained an impressive reputation for its product offering. Authorized and licensed by the FCA, CySEC, FSA of Malaysia, and the FSA of Seychelles, users can trade a wide range of asset classes from platforms including MT4, MT5, and CQG.
The Tickmill MT4 platform can be used on Windows, Mac, Web, and Android devices. iOS users can trade from the Tickmill Mobile App which offers a decent range of account management and live trading features as well as live chat support from the app.
From our testing, trading fees for Tickmill were competitive as the Pro Account offers spreads from 0 pips and a low commission of just $2 per side, per $100,000 traded. The Classic Account offers spreads from 1.6 pips with zero commission. There is also a Futures Account for professionals.
Users can also access a wide range of extra tools, such as the Signal Centre for trading ideas, a VPS for futures and options trading, and a comprehensive education section.
ActivTrades was founded in 2001 and is regulated by the UK FCA, CMVN, CSSF, SCB and CVM. One of its standout features is the additional private indemnity insurance with Lloyds of London from $10,000 to $1,000,000.
Users can trade from MT4, MT5, TradingView, and the proprietary ActivTrader platform. The list of global share CFDs available at ActivTrades covers the U.S., Europe, UK, Asia, South America, and others. Another standout feature is that you can trade fractional shares. This means you could purchase 1/10th of a share which is useful if the value of one share is very high and you have a small account.
I found the spread for EUR/USD at ActivTrades averaged 0.95 pips, beating the 1.0 pip industry average for a commission-free account. The spread on Apple share CFDs averaged 0.04 points during the New York open which is also competitive.
A commission of $0.02 per share for US share CFDs is in line with the industry average. A $1 minimum commission applies which is better than some other brokers who may charge a $10 minimum. European share CFDs incur a 0.05% commission of the total transaction value which is also very competitive.
JustMarkets was founded in 2012 and has become well-known for its quality of customer support. Authorized and regulated by CySEC and the FSA of Seychelles, users can trade on a wide range of markets covering forex, commodities, indices, cryptocurrencies, and stocks from the MT4 and MT5 platforms.
The JustMarkets MT4 platform is available for download on Windows and for Web Trader and Android apps. MAC users will need to find their own solution to run MT4 Windows or use the MT4 Web Trader.
From our live testing on the commission-free Pro account, we found the average spread for EURUSD during the London open was 0.8 pips which was much better than the industry average. You can access even tighter spreads with the Raw Spread account but with a commission of 3 units of the base currency per side, per lot.
We also conducted a live test of the broker’s customer support which scored nearly full marks in our rating review. From contacting JustMarkets customer support through online chat the agent was knowledgeable and helpful.
You can access customer support 24 hours a day, 7 days a week in 14 languages which include English, French, Spanish, Turkish, Arabic, Malaysian, and many others.
IronFX was founded in 2010 and has a great offering for beginners. The broker has entities authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Conduct Authority (FCA). Providing negative balance protection, the broker prevents beginner traders from losing more than their account balance.
Beginners can trade from the MetaTrader 4 platform from seven different account types suitable for beginners which include fixed spread and commission-free trading accounts. Beginners can also access a free demo trading to practice in a virtual environment risk-free.
We tested the live spreads during the London open and found them to be in line with the industry average for forex pairs but higher than the industry average for indices and commodities. The live EUR/USD spread at the time of testing was 0.9 pips.
From our analysis, IronFX offers the MT4 platform for Windows, and Android mobile devices and via MT4 Web Trader for browser-based trading. Mac users will need to download external programs to run the MT4 windows application or use the IronFX mobile trading app or web trader software.
The IronFX School provides access to webinars, podcasts, trading videos, seminars, and a wide range of research and educational tools, as well as access to the IronFX AutoTrade platform to copy the trades of successful traders.
tastyfx is a new brand name of IG US that provides Americans access to the global forex market with leverage and tight spreads. tastyfx earned a strong trust ranking from FXEmpire in light of being regulated by the NFA and CFTC, its lengthy operating history, financial stability, and transparency.
tastyfx offers its proprietary platform which is available on web and mobile. We rated both versions as among the best in the industry, with powerful features like sentiment data from its large client base. Traders looking for advanced features like automated trading and Depth of Market (DOM) also have access to MetaTrader 4.
Low trading costs make this an attractive broker. Via the Standard Account, traders can benefit from spreads as tight as 0.8 pips in EUR/USD and 1 pip in GBP/USD. In addition, high-volume traders who qualify as Premium clients can earn substantial cash rebates.
tastyfx offers 82 spot forex instruments, including major, minor, Australasian, Scandinavian, exotic, and emerging market currency pairs, which we rate as above average for the industry. If you are a US trader looking to try out the spot forex market, we recommend tastyfx as a strong choice.
OANDA Corporation was founded in 1996 and has grown an impressive reputation among institutional, corporate, and retail clients. The broker is authorised and regulated in Canada, the UK, Australia, and Japan and is also a member of the National Futures Association and registered with the Commodity Futures Trading Commission in the United States.
We found that US traders are offered four different platforms to trade from. This includes MetaTrader 4, the fully customizable OANDA Trade web and desktop platform and trading app. OANDA clients can also access an MT4 premium upgrade which adds 28 more indicators including additional order types, alert managers, and other automated trading capabilities.
US traders can trade on 70 currency pairs as well as 10 cryptocurrencies with pricing from Paxos’s itBit exchange. There are two types of trading accounts available to US traders which include the Standard Account (minimum balance $0) and the Advanced Trader Loyalty Program Account (minimum balance $10,000 and unlimited free wire transfers).
Both account types of either spread-only pricing or core pricing and commissions. During our live test, we checked the trading fees from its commission-free account on EUR/USD and found it to average 1.3 pips during the London open which is higher than the industry average of 1.0 pips.
We discovered that the Loyalty Programme account allows you to earn cash rebates or commission markdowns from $5 to $15 per million when minimum volume trading requirements have been met which is a good feature for active traders.
Below are some of the key points to consider when choosing the best MT4 forex broker to trade with.
Choosing a regulated broker is important as your broker holds your funds and executes your trades. Without proper oversight, your funds could be at risk, and your trades may not be executed fairly.
Brokers that choose to be regulated and overseen by the laws of a government financial body provide a higher level of safety and security than those that do not. However, not all financial regulators are equal.
In our reviews, we break down financial regulators into three tier levels:
Many brokers have entities that are regulated by tier 1 to tier 3 regulators but may also have entities that are not regulated at all, such as entities registered in St. Vincent and the Grenadines.
Discover Best FCA-regulated forex brokers and Best ASIC-regulated forex brokers.
Before opening a trading account, it’s essential to verify the entity you’re dealing with and understand the protections provided by its regulator. For instance, trading with an FCA-regulated broker offers the benefit of the Financial Services Compensation Scheme (FSCS), which protects up to £85,000 in case of broker insolvency.
Tier 1 regulators, such as the FCA, often mandate key safeguards for retail clients, including negative balance protection and the requirement to segregate client funds from company funds. In contrast, Tier 2, Tier 3, and unregulated brokers are not obligated to provide these protections. While some may voluntarily offer similar safeguards, others might not, leaving clients more exposed to risks.
Read more about Best regulated forex brokers.
Nowadays, traders have a huge selection of different account types offered by different brokers. Each account type is likely to come with different types of trading fees and non-trading fees. Below are a few that you should be aware of.
Trading fees are those that are charged for opening, closing, and holding a trade. These include:
Some brokers offer accounts with spreads starting from 0 pips but charge a commission for opening and closing trades. Others provide commission-free accounts with marked-up spreads, typically starting at 1.5 pips.
In our reviews, we consider the following benchmarks:
Non-trading fees, such as account management charges, are rare among retail brokers. However, some may impose inactivity fees if your account remains unused for an extended period.
It’s also important to check deposit and withdrawal fees. While many brokers offer free transactions, others may charge for one or both, depending on the payment method. Always review fee structures carefully before committing to a broker.
Brokers typically offer a range of account types that are based on the execution model. These include:
Explore our guides of Best ECN forex brokers and Best STP forex brokers.
Some brokers structure their account types based on the minimum deposit required. For example, a Standard Account might have a $100 minimum deposit, while a Premium Account could require $5,000.
Typically, accounts with higher balances offer better trading conditions, such as lower spreads and commissions, along with additional tools and services. It’s worth exploring the different account types a broker offers to identify features that can support and enhance your trading strategy.
For beginners, a demo trading account is an excellent starting point. It allows you to trade in a risk-free virtual environment, helping you develop and refine your skills before committing real funds.
See our picks of Best forex demo accounts.
One reason trading has grown in popularity is the ability to trade with small amounts of capital thanks to leverage. Forex, CFD, and Spread Betting accounts are all leveraged accounts.
Leverage allows traders to use borrowed funds to increase their position size, enabling them to control larger trades with a smaller deposit. Essentially, the broker lends the additional capital, and traders pay an overnight fee (known as the swap fee) for any open positions, acting as an interest payment.
The amount of leverage available depends on the broker’s regulatory framework and the client’s categorization:
Brokers regulated by Tier 1 and some Tier 2 authorities require clients to complete a trading application. Based on their responses, clients are classified as either retail or professional.
For example, a retail trader with a Tier 1 regulated broker can control a $30,000 forex position with just $1,000 in their account. Margin rates are typically lower for forex than for other asset classes, like stocks, which carry higher risk due to overnight market closures.
Adverts offering extremely high leverage, such as 1:500 or 1:1000, are usually from offshore or unregulated brokers, which operate under much looser regulatory requirements.
While leverage enhances trading opportunities, risk management and safety should always be top priorities when trading in financial markets.
Explore Best forex brokers with high leverage.
The MetaTrader 4 (MT4) trading platform is versatile and can be accessed in several ways:
When choosing how to access MT4, it’s essential to check whether your broker supports your preferred method. Many Mac users opt for the Web Trader version, but some brokers provide detailed instructions on using third-party plugins to run the desktop version on Mac.
Discover Best Mac trading forex brokers.
For traders using algorithmic strategies, the desktop version is a must, as the Web Trader doesn’t support algorithmic trading. However, the Web Trader is an excellent option for viewing charts, indicators, timeframes, and markets, and for executing trades.
It’s also worth checking if your broker offers a proprietary mobile trading app in addition to the MT4 mobile app. Having multiple trading platform options ensures minimal downtime and reduces the impact of potential platform issues.
Check out our guide on Best mobile trading apps.
The stand-alone version of MetaTrader 4 (MT4) is consistent across the industry, but brokers often enhance it with add-ons and customizations or integrate it with third-party providers. These additional tools and software can significantly enhance your trading experience, so it’s worth considering brokers that offer these extras.
Although MT4 remains the leading platform for forex traders, note that the MT4 mobile app is no longer available for iOS devices. If you’re focused on algorithmic trading, prioritize brokers that provide access to an MT4 VPS service, as this feature isn’t available on the web version.
Check out Best brokers with VPS hosting.
For beginner traders, brokers offering tutorials and videos on how to use MT4 can be especially helpful. While plenty of resources are available online, having curated materials from your broker simplifies the learning process, helping you start trading confidently and take full advantage of MT4’s features.
Explore our picks for Best forex brokers for beginners.
To determine the best MT4 forex brokers, our team of analysts conducted comprehensive research on over 80 brokers, evaluating more than 250 data points across nine core categories. Our checklist has evolved over time to incorporate new innovations and regulatory changes, ensuring we stay up-to-date with the latest industry standards.
Our in-depth evaluations provide unique insights into broker offerings, enabling readers to make informed decisions. Data collection involves opening live trading accounts, analyzing live pricing and execution, and interacting with real customer support agents (when available).
The nine categories we assess include trust, fees, platforms and tools, tradable instruments, customer service, deposits and withdrawals, account types, research, and education. Learn more about our detailed review process.
For this guide, we ensured that each broker offered free access to MetaTrader 4 and assessed the order execution speed on the platform. We analyzed whether the brokers enhance their MT4 offering with additional plugins, including third-party applications like AutoChartist, extra indicator packages, and social trading options. We also verified if the brokers support using Expert Advisors on MT4, enabling users to engage in algorithmic trading.
The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.