Top 5 MetaTrader 4 Brokers

Looking forward to getting started with the best MetaTrader 4 Broker but wondering which is the best broker to go with. Then you are at the very best place as in this guide we will list down the best top 5 rated MetaTrader 4 brokers. Also, we will discuss what are the benefits of MetaTrader 4 brokers and how you can choose the one that meets your financial goals. So, without further ado let’s get started with our topic.

Top 5 Meta Trader 4 Brokers - Beginners Guide

Top 5 MetaTrader 4 Brokers

Now that you have gained all the knowledge of the key metrics that an investor looks into when investing through a broker or a trading platform. However, checking all these metrics into all the available platforms can be very time consuming and hectic. Therefore to save you your precious time we have listed below the best five MetaTrader 4 brokers that are available in the market. All of the below-mentioned MetaTrader 4 trading platforms are highly trustworthy and offer amazing trading features to make you have a seamless trading exposure.

Libertex- Best MetaTrader 4 broker

Libertex Overall Best MetaTrader4 Broker

The very first trading platform that we have on our list is Libertex. Anyone with iOS and Android can use this application. All it requires to use the platform is a download, which is free of cost. Libertex broker was founded in 1997 and became home to nearly three million clients worldwide. This application allows you to access a variety of markets including, stocks, Indices, Commodities, and many more. Most of these markets are commission-free but some of these markets charge a minimal amount. Well, not to worry as this amount will never exceed 0.1% per slide.

Libertex- Best MetaTrader 4 broker

The Libetrex app is compatible with both MT4 and MT5. Also, the application is safe to use as it is regulated by CySEC. The minimum amount that is required to get started on Libertex is $100. It also offers a demo account feature which is highly advised to use. As it allows you to practice trading without spending your own money. 

Pros 

  • Regulated trading app 
  • Minimal commissions 
  • A well-reputed history record 
  • Compatible with MT4 and MT5
  • Offers a variety of financial investment assets
  • Offers zero spread CFD trading 

Cons 

  • Only CFDs are available.
  • Offers around 50 shares only

IG- Best MetaTrader 4 broker

IG- Best MetaTrader 4 Broker

Another amazing platform we have on our list is IG. This trading platform was launched in 1974 and since then it is known as the most popular trading platform for CFD trading. This platform owns the North American Derivatives Exchanges (NADEX) and the DailyFX.com financial news and analytics website as well as it offers a variety of trading assets to diversify your trading platform. It is regulated by FCA, which means you don’t have to worry about the safety and security of your funds.

The platform gives you access to over 12,000 assets and allows you to apply the leverage of up to 1:200 on forex trading pairs like EUR/USD, EUR/GBP, EUR/GBP, EUR/JPY, and USD/JPY. That means with an account balance of just $300, you could potentially trade with $60,000. What attracts the traders most to this platform is that it gives access to over 80 currency pairs. 

IG- Best MetaTrader 4 broker

This trading platform is highly compatible with the full range of MetaTrader 4. The account creation on this trading platform is also super easy. However, you do need to pay an entry-level fee of £8. But the good thing is that if you trade regularly then this entry-level fee will be reduced to £3. Once created an account you will be required to make a minimum deposit of $250 on this platform to initiate trading. This minimum deposit isn’t the fee of this platform but the working capital that is needed by the investors to start investing journey. 

Pros 

  • Well reputed UK Broker 
  • Offers more than 12,000 traditional assets
  • Offers leverage and short selling
  • Offers spread betting and CFD products
  • Offers educational tools 
  • Offers more than 80 pairs 
  • MT4 is supported 

Cons

  • Do not offer ETFs or Stocks

Forex. Com- Best MetaTrader 4 brokers for US traders

Forex.Com logo

As the name suggests, this trading app specializes in forex trading. It will allow you access to over 80 currency pairs including majors, minors and exotics. This trading app is compatible with both iOS and Android devices and is also compatible with a third-party provider MT4. Also, it offers a demo account feature that you can use multiple times for 30 days.

Forex.com- Best MetaTrader 4 broker

To use this application you are required to make a minimum deposit of $50. It also offers a variety of payment modes using a debit/card or PayPal. However, you won’t be required to pay a minimum if you make a deposit via bank wire. This trading app is highly beneficial for those who have little to no experience in trading. 

If you are willing to trade with larger amounts, then you can do so by making an STP account. Alongside a small commission, this account comes with leading spreads. 

Pros

  • Offers forex trading application
  • Access to over 80 currency pairs
  • Offers major, minors and exotic currency pairs 
  • Offers CFDs also 
  • Regulated by US licenses FINRA and SEC 
  • Provides alerts 

Cons 

  • KYC process is a bit complicated

Pepperstone- Fastest MetaTrader 4 broker

Another top-rated global option when considering Metatrader 4 brokers is Pepperstone. This broker is one of the best competitive stock brokers MT4, giving users high protection of their funds. This MT4 broker offers its traders a variety of financial trading instruments to choose from including Forex, Stocks, Cryptocurrencies and more. 

With this MT4 broker, you can choose accounts of all types. This type of broker is ideal for those who are looking for no-fuss accounts with swift executions, coming with records of under 30ms. 

Pepperstone- Best MetaTrader 4 broker

When compared to other MT4 brokers, this broker is highly competitive. It allows traders to choose Active Trader Programs that offer rebates. Furthermore, the platform gives access to copy trading features, trading alerts so that its traders can have a seamless trading experience while trading. 

Pros 

  • Variety of trading instruments
  • Offers Automated trading
  • Offers trading features, including copy trading 
  • Doesn’t charge a fee for inactivity or withdrawals 

Cons 

  • The platform isn’t available for traders in Canada or the US

AvaTrade- Best MetaTrader 4 broker for Account Types

AvaTrade MT4  Broker logo

Another MetaTrader 4 broker that we highly recommend is AvaTrade. This broker is one of the safest MT4 brokers as it is highly regulated by a variety of regulatory bodies from around the globe. The platform gives access to a variety of trading instruments from more than 1200 markets to choose from and it also offers borderless business dealing.

This MT4 broker is one of the most competitive brokers as it has an average of 300,000 trades per month.  When talking about accounts for trading, this broker offers a long list to choose from, whether it is spread betting or Islamic Swap-free accounts.

This MetaTrader4 broker is highly liquid and the spreads offered by this platform are highly competitive. On this broker, traders can access a variety of educational and research tools including videos, articles, and a blog.

Pros 

  • Regulated MetaTrader 4 broker
  • Offers 24/7 cryptocurrency trading
  • Offers a variety of trading instruments including stocks, indices, commodities and cryptos.
  • Allow you to access a variety of trading features
  • This MetaTrader4 broker is compatible with all the devices

Cons 

  • Offers minimum deposit of $100

What is MetaTrader 4 or MT4?

Developed in 2005 by MetaQuotes, MetaTrader 4 is an online trading platform that is most commonly used for trading forex. Anyhow, MetaTrader 4 can be used to trade other financial markets also including cryptocurrencies, commodities and indices via CFDs. 

MetaTrader 4 is an attraction for traders as it allows you to customize your individual trading as per your own preferences. The platform can be used to automate your trading and take advantage of algorithms that will trade on your behalf according to a list of the trading parameters you have set.


Benefits of MetaTrader 4 Broker

  • It allows you to view real-time price quotes, that is it allows traders to view live and historical prices of all the asset classes that were available on the platform for trading.
  • It allows users to make better decisions as it offers the world’s most popular 30 built-in indicators. 
  • It offers 9 different timeframes, which means you can either go short or long. 
  • It allows you to trade any time by using the Expert Advisors. These are the robots that trade 24/7 on the behalf of their users. 
  • MetaTrader Market offers more than 1700 trading robots and 2100+ indicators to download from. 
  • It also gives access to trading signals. That means you can access the performance of other traders and choose to follow them on the basis of their performance. 
  • This trading platform allows you to stay updated with the market’s latest trends by providing all the latest news announcements. 
  • It allows you to access the market anywhere anytime. That is it is compatible with all the devices, that is laptop, mobiles, desktop. All you are required to have is your login credentials. 

Things to consider before choosing the best MetaTrader 4 Brokers

You will be glad to know that at present there are thousands of MT4 brokers available in the market that allow you to gain exposure to your desired asset. But you are wrong if you think you can use the very first broker you find online as there are a few key metrics that you should consider before choosing the right Platform. Considering these key metrics is the most important thing as only on the basis of these metrics you can judge whether the platform is trustworthy or not. 

Below are those key metrics :

License and Regulation

This is the key metric, if an MT4 trading platform isn’t licensed or regulated then that’s the red flag. If the MT4 platform isn’t regulated or licensed by a financial regulatory authority then there is no guarantee that your funds are safe with the platform and if your broker dupes away with your money you can’t even raise a dispute. So, before you choose any platform make sure it is regulated.  For example, In the UK, the FCA is the regulatory body that ensures the platform can be trusted with the funds. And, if the platform is regulated by other jurisdictions, including ASIC and CySEC then it is icing on the cake. 

Diversified portfolio

Another major thing that you should look into before choosing the right MT4 broker for you is whether it gives access to your desired asset or not. And, along with that, whether it supports other investment classes to diversify your trading portfolio. Diversification plays an important role in investment. Simply put, if you invest in two or more things then there are changes if one investment fails others will work in your favour. That’s why to have a backup, diversification is important. Therefore, whenever you are planning on trading through a platform make sure it allows portfolio mangement to diversify your investments. For example, eToro is an online broker that gives you access to thousands of asset Classes, including the major ones such as ETFs, Cryptocurrencies, Stocks, Commodities and Indices. 

Minimum Investment

Another important metric that you should look into is the Minimum Investment. Make sure the MT4 platform you are choosing for placing trades allows you to start with the minimum investments. If you are a beginner then of course you won’t have an amazing prior trading experience. That means there are chances that you may lose more or even all your investment. That’s why it is better to start with the lowest possible amount so that if you lose it you don’t have to be depressed over losing it all. Therefore, before you choose any trading app make sure it allows you to start trading by investing a small amount. 

And, also make sure to start risking your money only when you can afford to lose it.

Fees and Commission 

Every platform is in the market to make money but the way they earn money differs from Platform to platform. There are Platforms that charge entry fees, there are those that charge commission and there are those that make money by deducting withdrawal and deposit fees. And, free trading apps are also there to earn money, they usually charge ongoing fees. For example, webull charges $1 per month to keep your trading account open.

Deposits and Withdrawals

In most cases, many free Platforms offer you to make a deposit or a withdrawal for free. But, still, a few trading apps that are free still charge minimal withdrawal or deposit fees. For example, Robinhood, the free trading app allows you to deposit funds for free via ACH but that same platform charges $8 when deposited via bank wires.

Payment Methods

To make deposits and funds every MT4 platform offers different payment methods. And, platforms like eToro offer a variety of payment methods to fund your account. So before you choose any trading app make sure it offers a variety of payment methods that are supported in your region. 

Trading Tools and Features

When selecting an MT4 trading app, make sure it also offers trading tools and features. There are free trading platforms that allow you to trade for free but they don’t offer you many tools and features to make your trading journey positive with minimizing the risk of losing.

Trading Tools Charts

For example the free trading app, eToro offers you amazing features like CopyTrading and CopyPortfolio. 

Libertex allows you to view the Terminal from the View menu at the top. It provides a tab called News where you can see all the latest news announcements affecting financial markets.

Copy-Trading and  Trading Signals

This feature allows you to copy ongoing trades of expert traders. The minimum size of a copy is $1 so you should make sure you have sufficient funds in your account to be sure to copy all the trades by the trader you are copying. At present, a variety of brokers offer copy trading services. In the MT4 trading platform, you can access the copy trading facility directly. The MT4 Signal service allows users to view the performance of other users and decide whether or not they want to choose them. However, the payment of this service depends on a platform to platform as a few offer free service and others offer a paid service.

Customer Support 

Customer support is one of the most important services as it is always there with you in your trading journey to assist you whenever you come across any difficulties.

However, having 24/7 available customer support is a top-notch service that you may not find in all the free trading apps. But to our luck, a few reputed trading apps such as eToro offers you 24/7 customer support. 


How to get started with the Best MetaTrader4 Broker 

Here to help you understand how you can get started with the Best MetaTrader4 broker, we are taking an example of the broker Libertex. Following is a step by step guide that you need to follow to get started on the platform today. Also, note the process of getting started with the broker is the same with every platform.

Step1: Create an account

The very first step to getting started with the best MT4 broker is to create an account on its official website. As we have taken an example of Libertex, that means you first need to create a trading account on Libetrex’s official website. To do so you are required to fill in a registration form by entering in your basic details such as your name, phone number, e-mail address and setting a strong password. Also, make sure to accept the term and conditions.

Libertex Step1- Account Creation

Step2: Undergo Verification

Now in this step, you are required to undergo a verification process. To get yourself verified you need to submit two documents that are either a valid passport or driver’s license. Either a utility bill or a bank statement makes sure it isn’t older than 3 months. This process is very important that you cannot skip. 

Step3: Deposit Funds 

Libertex- Deposit Funds

Now that you are a verified member of Libertex, you can move to the next step that is funding. Now, you have to fund your trading account by making a minimum deposit of £100. Libertex accepts payments from a variety of deposit methods, including, bank wire transfers, debit/credit cards, PayPal, Neteller, Trustly and many more. 

Step4: Download Meta Trader 4 (MT4) 

In this step, you are required to download a MetaTrader 4 trading account. You will receive download instructions for the same in your trading account. Also, this trading platform allows you to manage your live trading accounts through its portal area. 

Step5: Start Trading 

Once you have created your MT4 trading account you will have access to a variety of diverse trading instruments that are available in the market to trade, including cryptocurrencies, stocks, commodities, indices and many more.

After selecting your market, simply open a trading ticket and choose from the buy or sell position, stake and size. You will also be asked to use advanced options such as stop loss and take profit orders. 

You can even keep an eye on all of your open trades in the Terminal section which is available at the bottom of the trading platform.


Conclusion- Best MetaTrader4 Broker

I hope you got all the information that you were looking for. All the above mentioned MetaTrader4 brokers are the best ones apart from the above-listed brokers, there are thousands of MetaTrader4 brokers available in the market. However, choosing one can be very hectic and confusing and with the increase in scams, selecting the one becomes harder. That’s why we have also listed a few metrics that are used by pro traders to measure how good a platform is. If you want to get started today with a MetaTrader4 broker, we recommend you go with Libertex. The platform is highly reputable and competitive. Furthermore, it is highly regulated which means your funds are completely safe with the platform.