14 Best Forex MT4 Brokers

Consider setting out in the world of forex trading, ambitious and eager to learn how to make money on forex. You’ve got your sights set on the potential profits, but the first step, choosing the right broker, feels like trying to find the right piece in a jigsaw puzzle. For many traders, Forex MT4 brokers offer a reliable and user-friendly platform that can help you unlock your potential. In this guide, we’ll show you how to choose the right broker to achieve your goals.

AquaFunded’s funded trading program is a tool that can help you do just that.

What is an MT4 Broker?

MetaTrader 4, often referred to as MT4, is a widely recognized trading platform developed by MetaQuotes in 2005. Though it's famous for forex trading, MT4 can be used to trade various markets, including indices and commodities, through contracts for difference (CFDs).

Why is MT4 Popular?

Traders love MT4 for two main reasons. First, it's highly customizable, allowing you to tailor it to your unique trading style and preferences. Second, it can automate your trading by using algorithms that open and close positions based on preset criteria.

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Benefits of MT4 Broker

Automate Your Trading

MetaTrader 4 (MT4) brokers offer the luxury of automated trading, a game-changer for both seasoned traders and newcomers. With automation, you can capitalize on market movements without lifting a finger or letting human emotions get in the way. It’s like having a tireless assistant managing trades while you focus on other things.

Safeguard Your Investments

Security is paramount in Forex trading, and MT4 brokers excel in this area. The platform encrypts data between servers and client terminals, utilizing RSA digital signatures for enhanced security. Even your IP address gets an extra layer of protection. This setup ensures your account details and funds are safe from cyber threats, giving you peace of mind.

Enjoy Unmatched Stability

MT4 brokers provide a stable environment with fast trade execution, minimizing slippage. Whether you use Android or iOS, the mobile version retains essential features like mechanical analysis tools and real-time Forex quotes. You can trade with confidence, knowing the platform won’t let you down.

Access Real-Time Market Data

MT4 brokers give you real-time access to Forex quotes, crucial for making informed trading decisions. The MarketWatch window lists all tradable securities, displaying real-time bid and ask prices. You can also see spreads, contract sizes, and more. The "Market Depth" feature keeps you updated on live market activity, essential for short-term strategies like scalping.

Trade Anywhere, Anytime

MT4’s technological advancements make it easy to trade forex and other assets on the go. Whether you’re using a smartphone, tablet, or PC, you can access the platform and trade wherever you are. This flexibility is perfect for traders who need to stay connected to the market.

Rely on a Proven Platform

MT4 brokers give traders a reliable and efficient trading environment. The platform is easy to download, install, and set up all in a matter of minutes. Once you’ve funded your account, you’re ready to trade forex or other commodities. It’s a straightforward way to dive into online trading without unnecessary complications.

14 Best Forex MT4 Brokers

1. Aqua Funded: Revolutionize Your Trading Game

AquaFunded offers an advanced opportunity to turn your forex skills into real profits without risking your own capital. Gain access to accounts up to $400K with flexible trading conditions, like no time limits and up to 100% profit split. Over 42,000 traders have already collected millions in rewards, all with a 48-hour payment guarantee.

2. FP Markets: Flexibility and Tools Galore

Established in 2005, FP Markets is a leader in the forex industry with a diverse range of offerings. It provides access to MT4 across devices and offers a custom-built solution for MAC users. Benefit from MT4 Advanced Trade Assistance Apps and Autochartist integration for real-time trading ideas.

Pros

• MT4 Advanced Trade Apps.
• Autochartist integration.
• Low fees and great account types.

Cons

• Higher-than-average swap fees for gold.

3. OCTA: Comprehensive Asset Offering

OCTA offers a wide range of CFDs and competitive trading conditions. With access to MT4, you can trade currencies, shares, indices, energies, and cryptocurrencies. Enjoy zero commissions and swap fees on the standard account.

Pros

• Low spreads and no commissions.
• AutoChartist plugin for MT4.
• Competitive trading fees.

Cons

• No iOS trading app.
• MT4 unavailable with a Cyprus-based entity.

4. FXTM: Advanced Features for the Modern Trader

Founded in 2011, FXTM is regulated by multiple authorities and offers a wide range of markets. The MT4 platform features advanced functions, including copy trading. Benefit from competitive commissions and the FXTM Invest copy trading portal.

Pros

• Advanced features on MT4 and MT5.
• Competitive commissions.
• Insightful market research.

Cons

• Inactivity fee.

5. FxPro: Speed and Precision

FxPro, established in 2006, offers an extensive range of tradable instruments. Known for ultra-fast order execution, it provides VPS hosting for stable connectivity. MT4 users can enjoy automated trading and strategy testing.

Pros

• Lightning-fast execution speeds.
• VPS hosting.
• Competitive trading fees.

Cons

• High inactivity fee.

6. ActivTrades: Safety and Innovation

ActivTrades, founded in 2001, offers a unique insurance policy and fractional shares trading. With low spreads and competitive commissions, it’s a solid choice for traders seeking security and innovative features.

Pros

• Enhanced indemnity insurance.
• Fractional shares trading.
• Competitive commissions.

Cons

• Limited research tools.

7. IronFX: Ideal for Beginners

IronFX, established in 2010, offers a user-friendly platform with multiple account types. Beginners can enjoy commission-free trading and extensive educational resources through IronFX School.

Pros

• Multiple account types.
• Commission-free trading.
• Comprehensive educational resources.

Cons

• Need third-party software for MT4 on Mac.

8. OANDA: Trusted and Reliable

Founded in 1996, OANDA is a highly regulated company that offers multiple trading platforms. With competitive pricing and a loyalty program, it’s an excellent option for US traders.

Pros

• Highly regulated.
• Earn cash rebates.
• Trading with leverage.

Cons

• High minimum deposit for loyalty account.

9. Exness: Cryptocurrency Pioneers

Exness, founded in 2008, specializes in leveraged trading of cryptocurrencies. With a wide range of account types, traders can access numerous cryptocurrencies and trade with zero swap fees.

Pros

• Wide range of cryptos.
• Zero swap fees on cryptos.
• Trade against various fiat currencies.

Cons

• No MAC solution for MT4 desktop.

10. Swissquote: Banking on Safety

Swissquote, a Swiss bank, offers a wide range of markets and advanced trading features. With algo-trading capabilities and additional plugins, it’s a top choice for those prioritizing safety and functionality.

Pros

• Publicly traded Swiss bank.
• Extensive regulatory oversight.
• Advanced trading features.

Cons

• High minimum deposit for the lowest spreads.

11. Errante: Diverse Account Options

Errante, founded in 2019, offers a variety of account types to suit different traders. With competitive spreads and access to MT4, it’s a solid choice for those seeking flexibility.

Pros

• Four account types.
• Competitive spreads.
• Access to MAM/PAMM.

Cons

• Limited platform options for iOS.

12. Tickmill: Low-Cost Trading

Tickmill, established in 2014, is known for its competitive trading fees and excellent platform offerings. With additional tools and a strong education section, it’s a fantastic option for active traders.

Pros

• Competitive trading fees.
• Excellent additional tools.
• Strong platform offerings.

Cons

• Limited customer support hours.

13. JustMarkets: Customer Support Excellence

JustMarkets, founded in 2012, is renowned for its quality customer support. With competitive fees and a wide range of markets, it’s an excellent choice for those seeking reliable support and flexibility.

Pros

• 24/7 multilingual support.
• Competitive fees.
• Various account types.

Cons

• Need software for MT4 on MAC.
• Limited research materials.

14. tastyfx: For American Traders

Tastyfx, a brand of IG US, offers US traders access to the global forex market. With tight spreads and a robust platform, it’s a trusted option for those looking to trade spot forex.

Pros

• High trust rating.
• Low trading costs.
• Robust platform offerings.

Cons

• Lacks chat support.

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How to Choose the Best Forex Broker

Trust Matters: Regulatory Compliance

The first step in choosing the right forex broker is ensuring they are regulated by a reputable authority. This is not just about ticking a box; it's about safeguarding your investments. For UK traders, the Financial Conduct Authority (FCA) is the gold standard. A regulated broker follows strict guidelines that protect traders and promote transparency. This level of oversight ensures that your broker is trustworthy and committed to fair practices.

Keep Costs Low: Trading Costs – Spreads and Commissions

When selecting a broker, pay close attention to their fee structure. Spreads and commissions can significantly impact your profits, so it's wise to compare different brokers. While tight spreads are appealing, be wary of brokers who offer unrealistically low spreads without proper regulation. Additionally, check for other fees, such as overnight financing or inactivity charges, that could eat into your profits.

Balance Risk and Reward: Leverage and Margin Requirements

Leverage can be a double-edged sword. While it can boost profits, it can also magnify losses. Understand the leverage options available and the margin requirements associated with your broker. Select a broker that offers leverage levels compatible with your trading strategy and risk tolerance, enabling you to trade with confidence and comfort.

Swift and Secure: Deposits and Withdrawals

Funding your account and withdrawing profits should be a smooth and stress-free process. Review the broker's policies on deposits and withdrawals, including the available methods, processing times, and any associated fees. A broker offering multiple convenient and cost-effective options is preferable, ensuring you can access your money when needed.

Trade with Ease: Trading Platforms

A user-friendly trading platform can enhance your trading experience. Evaluate the platforms offered by your broker, ensuring they are stable, feature-rich, and compatible with your devices. Look for advanced charting tools, real-time data, and other features that can help you make informed trading decisions.

Maximize Opportunities: Trading Hours

Forex markets operate around the clock during weekdays, so it’s essential to choose a broker that offers trading during these hours. Some brokers also provide weekend trading options, which can benefit specific strategies. Ensure your broker allows you to trade at your convenience, maximizing your market opportunities.

Broaden Your Horizons: Range of Forex Markets Available

A broker offering a diverse selection of currency pairs provides more trading opportunities. Ensure your broker offers a wide range of major, minor, and exotic currency pairs to suit your trading preferences. This allows you to diversify your portfolio and capitalize on various market conditions.

Learn and Grow: Educational Tools Available

Quality educational resources can aid in developing your trading skills. Look for brokers that offer comprehensive materials, such as webinars, tutorials, and market analysis, to support your learning journey. The more you know, the better equipped you’ll be to make informed trading decisions.

Support When You Need It: Customer Service

Reliable customer support is essential, especially during critical trading times. Ensure the broker provides prompt and effective assistance through multiple channels, including live chat, email, and phone support. This ensures you can get help when needed, minimizing disruptions to your trading activities.

Turn your trading skills into substantial profits without risking your capital. AquaFunded gives you access to accounts up to $400K with the most flexible trading conditions in the industry - no time limits, easy-to-achieve profit targets, and up to 100% profit split. Join over 42,000 traders worldwide who've already collected more than $2.9 million in rewards, all backed by our 48-hour payment guarantee. Start trading today with instant funding options or prove your skills through our customizable challenge paths and keep up to 100% of what you earn.

Join Our Funded Trading Program Today - Trade with our Capital and Keep up to 100% of the Profit.

Are you tired of sweating over your capital? AquaFunded lets you leverage their funds, giving you access to accounts as large as $400,000. That means you can trade big without the fear of losing your own money. And with no time constraints, you can breathe easy and focus on making those trades count. Additionally, their profit targets are not only achievable but also relatively easy compared to those of other platforms. Once you hit those targets, enjoy up to a 100% profit split. That’s right, you keep what you earn.

Join a Global Network of Successful Traders

With over 42,000 traders worldwide, AquaFunded isn’t just a platform; it’s a thriving community. Imagine being part of a network that has already collected more than $2.9 million in rewards. And AquaFunded’s 48-hour payment guarantee means you get your earnings fast, allowing you to reinvest or enjoy your profits without delay. Whether you’re in New York or New Delhi, rest assured that you’re part of a stable, reliable system that prioritizes your success.

Choose Your Path: Instant Funding or Customized Challenges

AquaFunded understands that every trader is different. That’s why they offer flexible options to suit your trading style. Want to jump right into trading? Opt for their instant funding options and get started today. Prefer a more structured approach? Choose from their customizable challenge paths. Either way, AquaFunded allows you to trade on your terms. And with up to a 100% profit split, you’re not just selling; you’re building wealth.

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