MetaTrader 4 (MT4) continues to be one of the leading third-party tools for forex traders due to its advanced functions and exceptional back-testing capabilities. Because of this, several forex brokers now provide seamless connectivity with MT4, enabling users to open and close trades through the program.
Before offering a detailed overview of how to execute a forex trade using one of these platforms – without paying any commissions – this guide will analyze a number of the best MT4 brokers accessible to FX traders, highlighting their fees, features, and asset selections.
Given the importance of selecting an appropriate broker and opening an investment account, the process of investing in stocks is very similar to trading currencies. As mentioned in the introduction, MT4 is now widely available from brokers via Mac, Windows, and mobile devices, which simplifies trading for both novice and experienced investors.
With this in mind, the list of MT4 brokers below offers a variety of top-rated platforms, concentrating on their commissions, asset selection, and trading features.
XTB – Popular Alternative Station to MT4
The two platforms that XTB provides are the best option for traders looking for convenience while enhancing their charts with cutting-edge technologies. Traders can select between xStation 5 and xStation mobile using XTB. Traders have the option of using a desktop device, mobile app, or web trade platform.
Fast executions and some of the lowest forex spreads in the industry are made possible by this platform. A popular pair like EUR/USD has a spread that is typically 0.1 pip wide. Moreover, traders can utilize leverage up to 1:30 on XTB platforms.
However, XTB clients were no longer allowed to create new accounts and sub accounts on the MT4 platform from November 9, 2020. Trading accounts created before this date are still fully supported and functional. Yet, the Station 5 platform on XTB is the best MetaTrader4 substitute because it has excellent features.
The platform provides access to 2100 global markets for equities, indices, commodities, cryptocurrencies, and ETFs.
Vantage – Offering over 3,200 Professional Signals with MT4
Vantage, a well-known CFD trading platform for Forex pairings, cryptocurrencies, commodities, equities, and indices, was introduced in 2009. Investors can access the well-liked EUR/USD pair at modest spreads, starting at 0.2 pips, with the Raw ECN account. Moreover, Vantage’s STP account provides commission-free CFD trading.
Vantage offers MT4 trader, which provides high-speed trading on FX pairings, as a trading platform. The MT4 brokerage offers investors access to thousands of charting & customization options with Vantage, giving them a competitive edge in the world markets. MT4 is made available on this well-known trading platform on the web, desktop, and Vantage app, which is accessible on iOS and Android.
With more than 3,200 trading signals available, MT4 on Vantage enables investors to open FX trades using the most effective tactics.
AvaTrade – Popular MT4 Forex Broker with Added MT5 Support
Here is our top pick for the best MT5 broker with additional MT5 support. AvaTrade is a well-known CFD broker that provides the best forex VPS in addition to over 50 FX pairs to trade. The platform, which has been in use for more than 15 years, is governed by a number of reputable organizations, most notably the Central Bank of Ireland.
AvaTrade does not charge commissions and, like the majority of CFD-focused MetaTrader 4 brokers, includes its trading costs in the bid/ask spread. With the EUR/USD currency pair, spreads can be as low as 0.9 pips, and leverage up to 30:1 is possible.
With no deposit fees and support for bank transfers, credit/debit cards, and many e-wallets, AvaTrade also makes it easy for consumers to fund their accounts.
Forex.com – Leading MT4 Trading Platform for Automated Trading
Investors in the US who want to use the MetaTrader 4 app might want to work with Forex.com. With over 90 trading pairs, Forex.com enjoys a remarkable reputation in the foreign exchange market.
The “STP Pro” account gives users access to deep liquidity, meaning spreads for heavily traded pairs can be as low as 0.1 pip. Customers can pick from a variety of account kinds.
One of the best Islamic brokers to work with is Forex.com, which provides a special “swap-free” account type. In addition to providing seamless MT4 connectivity, Forex.com also includes a Reuters newsfeed and a number of research resources. Finally, Forex.com even provides a free MT4 sample account for new traders.
FP Markets – Excellent MT4 Trading Platform with Copy Trading Features
This finalizes our list of MT4 brokers. The platform of FP Markets, which enables users to instantly duplicate the trades made by other FP Markets traders, makes it the best MT4 broker for copy trading. An important aspect of this feature’s integration with MT4 and MT5 is that it enables users to adjust their risk tolerance.
The ECN account from FP Markets will appeal to regular traders because it has incredibly low latency, which is intended to lessen (or eliminate) slippage. With a commission applied, spreads on this account might be as low as 0.0 pip.
Finally, FP Markets makes it simple to build a diversified portfolio by allowing users to purchase cryptocurrencies as well as other asset types.
MetaTrader 4 remains a popular choice among forex traders due to its advanced functions and exceptional back-testing capabilities. The availability of MT4 on various platforms such as Mac, Windows, and mobile devices has made trading more accessible for novice and experienced investors. This guide has highlighted some of the best MT4 brokers based on their commissions, asset selection, and trading features. Each of the brokers listed offers unique advantages such as access to global markets, professional signals, and copy trading features. Ultimately, selecting the right MT4 broker can make all the difference in achieving success in forex trading.