13 Best MetaTrader 4 (MT4) Brokers for 2024

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:

• Standard. Minimum deposit $50. Spreads from 1.5 pips. Zero commission.
• Premium. Minimum deposit $1,000. Spreads from 1 pip. Zero commission. Daily market summary.
• VIP. Minimum deposit $5,000. Spreads from 0.8 pips. Zero commission. 0% fees on deposits and withdrawals. Free VPS.
• Tailor Made. Minimum deposit $15,000. Spreads from 0 pips. Commission-based.

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, CQG, and TradingView.

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 VIP Account and a Futures Account for professionals.

Users can also access the AutoChartist plugin for MT4 which provides real-time, actionable trading ideas directly from MT4. There is also a large range of extra tools such as access to the Signal Centre for trading ideas, a VPS, futures, and options trading, and a comprehensive education section.

FlowBank was founded in 2020 and has quickly risen to become a major Swiss financial institution providing access to trading, investing, and banking solutions that are authorized and regulated by Switzerland’s main financial body FINMA (Swiss Financial Market Supervisory Authority).

Users can trade on 4,500+ instruments from FlowBank’s MT4 platform and 50,000+ instruments from its own proprietary platform. The instruments cover all asset classes including:

• 41,627 options from CBOE, CME, COMEX, EUREX, ICE, IM, NYMEX
• 12,771 stocks and ETFs
• 12,771 bonds
• 4,650 stock and ETF CFDs (MT4)
• 2,110 OTF funds
• 1,026 futures
• 54 currency pairs (MT4)
• 49 cryptos (MT4)
• 34 commodity CFDs (MT4)
• 29 indices CFDs (MT4)

From our full test of Flowbank’s products and services, we found that the spreads on most currency pairs were higher than the industry average. The live spread on EUR/USD during the London open was 1.6 pips. The spreads on stocks and indices were much better than the industry average.

We checked Flowbank’s MetaTrader 4 offering and found that it allows for all the standard features such as algorithmic trading capabilities, full charting, and technical analysis. We also discovered that you can earn monthly cash rebates from using MT4 with Flowbank and earn 3 CHF for every 1 million CHF traded on forex, indices, and commodities.

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.

IG US launched in 2019, providing traders with access to the spot forex market with leverage and tight spreads. The brokerage giant has almost 50 years of experience and over 300,000 clients across five continents. IG US 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.

IG US 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.

IG US 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 IG US 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.