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The MetaTrader 4 trading platform is undoubtedly one of the most popular trading platforms in the forex industry today, offering an impressive suite of advanced analytical capabilities, broad-ranging compatibility, and a user-friendly interface.
There are a huge number of forex brokers who offer traders access to the MetaTrader 4 terminal so that finding the best MT4 broker can be something of a daunting task.
We’ve made the process a lot easier with this comprehensive list of the 27 best MetaTrader 4 forex brokers in the industry today so that you can enjoy advanced trading capabilities with a competitive trading environment.
With AvaTrade’s MetaTrader 4, you can open an account to trade with competitive spreads on the world’s most powerful and advanced platform. AvaTrade excels once again at offering traders a wide array of financial trading instruments.
The broker offers over 50 currency pairs available, including all majors, minors, and many exotics available 24 hrs a day, 7 days a week. Traders can enjoy competitive spreads as low as 0.8 pips, and leverage up to 400:1.
 PROS |  CONS |
| A broad range of tradable instruments | High EURUSD and inactivity fees |
| MetaTrader 4 and 5 are available | |
| Excellent educational resources |
| Feature | Information |
| Regulation | Central Bank of Ireland, MiFID, ASiC, BVI |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | No commission on Forex |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | First Deposit Bonus |
| Customer Support | 24/5 – multilingual |
XM pioneered the offering of an MT4 platform with trading execution quality in mind. Trade on MT4 with No Requotes, No Rejections with flexible leverage ranging from 1:1 – to 888:1.
XM sets high standards for its services because quality is just as decisive for the broker as for its clients. The broker uses versatility in thinking and a unified policy of business principles.
The XM’s mission is to keep pace with global market demands and approach its clients’ investment goals with an open mind.
| Pros
Low minimum deposit Comprehensive educational offering Streamlined account opening process
| Cons
Inactivity fee charged after 90 days on live accounts Limited product portfolio
|
| Feature | Information |
| Regulation | IFSC, ASIC, CySEC, FCA and DFSA |
| Minimum deposit from | $5 |
| Average spread from | 0.1 pips |
| Commissions from | $3.5 commission per $100 000 traded |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:30 |
| Bonuses | $30 Trading Bonus |
| Customer Support | 24/5 |
Alpari is one of the largest forex brands around, and Alpari’s broad range of services enables you to get the best guidance, advice, and resources to build a richer portfolio.
The Alpari brand boasts over two million clients thanks to the reputation it has built over the past two decades.
With Alpari International, you have everything you need to start trading forex, metals, cryptocurrencies, and commodity futures CFDs. Benefit from trading tools, interbank liquidity, advanced trading platforms, and financial news to help you on your way.
| Pros
Advanced copy trading software available Wide selection of tradable assets Low minimum deposit Excellent multilingual customer support
| Cons
High trading fees Limited education |
| Feature | Information |
| Regulation | Financial Services Commission (FSC) |
| Minimum deposit from | $100 |
| Average spread from | 1.2 pips on majors |
| Commissions from | charged at 4 units of the Base currency |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | Cashback Promotion |
| Customer Support | 24/5 |
FXTM, also known as “ForexTime”, is a well-established Forex / CFD brokerage house that has been in business ever since 2011.
FXTM has grown rapidly in recent years and has a corporate structure composed of three entities that match its three bases of operations: the U.K., Cyprus, and Mauritius.
FXTM allows its clients to trade Forex currency pairs and crosses, including some exotics, the precious metals gold, and silver, crude oil, and natural gas.
| PROS | CONS |
| Superb customer service | Inactivity and withdrawal fees |
| High maximum leverage | Limited product portfolio |
| Great educational tools |
| Feature | Information |
| Regulation | CySEC, FCA, FSCA |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | No commission |
| Deposit/Withdrawal Fees | $3 |
| Maximum Leverage | 1:500 on average |
| Bonuses | $300 Trading Bonus |
| Customer Support | 24/5 |
FP Markets offers traders the opportunity to trade a wide range of instruments mostly wrapped as CFDs (Contracts for Difference), offering over thirteen thousand tradable instruments.
These include an incredible selection of over thirteen thousand individual shares quoted in leading global markets.
In addition to individual shares, FP Markets offers trading in over 60 Forex currency pairs and crosses, the commodities gold, silver, and WTI Crude Oil, 5 cryptocurrencies, and 11 major global equity indices.
| PROS | CONS |
| Competitive trading fees | High stock CFD Fees |
| Easy account opening
Fast processing for deposits and withdrawals | Limited range of asset classes
|
| Feature | Information |
| Regulation | Australian ASIC, Cypriot CySEC, SCB |
| Minimum deposit from | $100 |
| Average spread from | 0.5 pips |
| Commissions from | $55 monthly commission for IRESS Trader users only |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | $30 Welcome Bonus |
| Customer Support | 24/5 |
GO Markets is one of Australia’s original Meta Trader 4 Forex brokers. Since 2008, the broker has offered traders a powerful and valued trading platform and advanced technologies, helping new and skilled traders alike implement their trading strategies.
| Pros
Low trading fees Ultra-fast execution Advanced analytical tools Low minimum deposit | Cons
Limited acco |
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | $1 |
| Average spread from | 1.5 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | 30% Deposit Bonus |
| Customer support | 24/5 |
XTB is a leading online FX & CFD (contracts for difference) trading firm based in Europe, offering access to over 1500 instruments from two platforms: its own award-winning xStation 5 and the traditional MT4.
Traders can choose from CFDs on FX, Indices, Cryptocurrencies, Shares, Commodities, and ETFs.
XTB is a leading European broker that was founded in 2004 and is one of the largest stock exchange-listed brokers in the world with offices in 13 countries including the UK, Spain, Germany, France, and Chile.
| Pros
Low trading fees Free deposit and withdrawal | Cons
High stock CFDs Limited asset portfolio
|
| Feature | Information |
| Regulation | KNF, FCA, CySEC and IFSC |
| Minimum deposit from | $250 |
| Average spread from | 1.02 pips |
| Commissions from | 0.08% of trade value with $8 minimum |
| Deposit/Withdrawal Fees | $30 on withdrawals of less than $50 |
| Maximum Leverage | 1:500 |
| Bonuses | $40 No Deposit Bonus |
| Customer support | 24/5 |
AxiTrader is primarily a forex broker and offers over 80 currency pairs which are ample coverage of the currency market; plenty of minor and exotic currencies are available for trading.
A mix of hard and soft commodities, 31 equity CFDs, and six cryptocurrency CFDs complete the offered products. The asset selection is rather limited and proper cross-asset diversification is impossible.
Pure Forex accounts enjoy a sound selection of assets, and indices are presented properly. AxiTrader offers new retail traders plenty of opportunities to start their first trading account.
| PROS | CONS |
| No Minimum Deposit | Limited research tools |
| MetaTrader 4 available |
| Feature | Information |
| Regulation | ASIC, FCA, DFSA |
| Minimum deposit from | No minimum deposit |
| Average spread from | 1.24 pip |
| Commissions from | $ 7 commission charged per round |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | 20% Deposit Bonus |
| Customer Support | 24/5 |
Darwinex launched in September 2014 as a new and innovative social/copy trading service. It is an innovative social trading and investment platform which connects independent traders with potential retail investors
Apart from these copy trading abilities, while Darwinex also offers the full MetaTrader suite, the offering is just average due to higher pricing, weak research, and a lack of great tools.
| PROS | CONS |
| Competitive spreads
Three base currencies are available
| You have to sign up either as a trader or an investor
20% performance fee Complicated account opening process |
| Feature | Information |
| Regulation | FCA |
| Minimum deposit from | $500 |
| Average spread from | 0.0 pips |
| Commissions from | 3.0 USD per lot round-trip |
| Deposit/Withdrawal Fees | 0.5% for skrill |
| Maximum Leverage | 1:30 |
| Bonuses | None |
| Customer Support | 24/5 |
The LiteForex brand was created in 2005 with the aim to provide a transparent and accessible trading opportunity to world traders and investors.
LiteForex is a global forex and CFD broker located in the Marshall Islands. It offers forex, stock, indices, commodities, and cryptocurrencies for trading on its platforms. With 13 years of experience in the brokerage industry, LiteForex is an established ECN broker.
| PROS | CONS |
| Social trading available
MetaTrader 4 and 5 are available Multilingual customer support | Limited trading instruments
No VPS avai |
| Feature | Information |
| Regulation | Marshall Islands Business Corporation Act |
| Minimum deposit from | $50 |
| Average spread from | 1.9 pips |
| Commissions from | No commissions |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | 100% forex deposit bonus |
| Customer Support | 24/5 |
OctaFX has some of the lowest spreads when compared to other brokers. With OctaFX there is no slippage or requotes and commissions on FX pairs are close to zero particularly for traders who have an ECN account.
| PROS | CONS |
| Ultra-fast execution | No VPS available |
| More than 30 forex pairs are available
Well-regulated
| No Forex educational tools |
| Feature | Information |
| Regulation | CySEC |
| Minimum deposit from | $100 |
| Average spread from | 0.7 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | 50% Deposit Bonus |
| Customer Support | 24/5 |
Tickmill is a global forex and CFD broker, established in 2014. The company is regulated by the Financial Conduct Authority, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority of Seychelles.
Tickmill has low trading and non-trading fees. It has one of the lowest forex commissions among brokers. The account opening is fast, easy, and fully digital. You can use a lot of options for deposit or withdrawal, and they’re free of charge.
| PROS | CONS |
| Competitive pricing
Well regulated High leverage Advanced trading software STP model |
| Feature | Information |
| Regulation | FSA |
| Minimum deposit from | $100 |
| Average spread from | 0.1 pips |
| Commissions from | 2 per side per 100,000 traded |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | $30 Welcome Bonus |
| Customer Support | 24/5 |
InstaForex EU is part of the InstaForex brand that was established in 2007 and is home to over 7,000,000 traders.
The group as a whole represents a leader in the retail sector and InstaForex EU caters specifically to EU-based traders. InstaForex EU aims to provide first-class trading services and to become the broker of choice for all EU-based traders.
This broker claims to be an ECN broker offering over 200 assets across five asset classes. Over thirty analysts are employed, offering research to clients, and this broker was awarded over 30 industry awards since 2009.
| PROS | CONS |
| Relatively high maximum leverage
No minimum deposit Reputable regulation |
| Feature | Information |
| Regulation | CySEC |
| Minimum deposit from | No minimum deposit |
| Average spread from | Average floating 0.8 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | 30% Deposit Bonus |
| Customer Support | 24/5 |
City Index was founded in 1983 and is part of publicly traded company Gain Capital Holdings Inc (NYSE: GCAP) which is one of the largest retail and institutional trading providers in the world.
City Index is authorized and regulated by the UK Financial Conduct Authority, offering a high level of security and safety.
The broker offers retail, professional, and premium trading accounts to trade on 12,000+ instruments covering Indices, Shares, Forex, Cryptos, and Commodities via Spread Betting, CFD, and Options.
Spread Betting accounts offer commission-free trading, with CFD accounts offering commission-free trading on all asset classes with the exception of Shares. Spreads are fixed or variable.
| PROS | CONS |
| Low trading fees
No fees for deposit and withdrawal Comprehensive research tools | Limited pro |
| Feature | Information |
| Regulation | FCA, ASIC |
| Minimum deposit from | $100 |
| Average spread from | 1.5 pips |
| Commissions from | $3 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:200 |
| Bonuses | Deposit Bonus |
| Customer Support | 24/6 |
IC Markets is a great forex and CFD broker.
Its forex fees are low and account opening is fast and easy. Deposits and withdrawals are free and user-friendly. The education section of its website is also a plus.
On the other hand, IC Markets offers only forex, stock CFD, crypto trading, and a limited number of CFDs on futures, bonds, indices. It also does not provide any investor or negative account balance protection.
| PROS | CONS |
| Low trading costs
Easy process to open an account No deposit or withdrawal fees | Limited range |
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | $200 |
| Average spread from | 0.0 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/7 |
Pepperstone is a trustworthy and good forex broker, regulated by the top-tier FCA and ASIC. Forex and equity index fees are low, customer service good, providing relevant answers within a short time. Deposit and withdrawal are easy, with no fees charged.
As a market maker, Pepperstone may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements.
| PROS | CONS |
| Low forex and equity index CFDs
No deposit fee Negative balance protection | Only forex, CFDs, and cryptos are available
|
| Feature | Information |
| Regulation | FCA, ASIC |
| Minimum deposit from | AUD200 |
| Average spread from | 0.4 pips |
| Commissions from | $3.76 commission per lot per trade |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
FxPro is in the CFD and Spread Betting market in the U.K. and was founded in 2006. Since then the company has executed more than 250 million orders and was voted the U.K.’s most trusted Forex brand by Global Brands Magazine in 2017.
Today the company operates in 173 countries and has more than 870,000 client accounts and €100 million of Tier 1 capital.
| PROS | CONS |
| Wide selection of market instruments | |
| Client funds stored in segregated accounts
Low trading fees |
| Feature | Information |
| Regulation | FCA, CySEC, FSCA |
| Minimum deposit from | $500 |
| Average spread from | 1.7 pips |
| Commissions from | $45 per million USD traded. |
| Deposit/Withdrawal Fees | 1.6% for debit and credit card |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
FXCM has low trading fees, its technical research tools are of high quality and well organized, and the account opening is fast and straightforward.
FXCM offers Forex, stock, stock index, commodity, and crypto CFDs. Their desktop, mobile, and web-trading platforms are stable and easy to use.
| PROS | CONS |
| Excellent trading platforms | Limited product portfolio in terms of asset classes |
| Low minimum deposit
High maximum leverage |
| Feature | Information |
| Regulation | FCA, ASIC, ACPR, FSP |
| Minimum deposit from | $50 |
| Average spread from | 1.3 pips |
| Commissions from | £4 per standard round-turn lot (£2 per side) |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | $20 Welcome Bonus |
| Customer Support | 24/5 |
IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG Group is listed on the London Stock Exchange.
The deposit and withdrawal conditions are great. You can also educate yourself with great educational materials.
On the other hand, there are some drawbacks. The stock CFD fees are high and the product portfolio in most countries is limited to forex, CFDs, and options.
| PROS | CONS |
| No deposit or withdrawal fees
Low index CFD trading fees | Inactivity fee charges
High stock CFD fees |
| Feature | Information |
| Regulation | FCA, FSCA |
| Minimum deposit from | No minimum deposit |
| Average spread from | Variable |
| Commissions from | £3.00 – £8.00 per trade for all types of assets |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:200 |
| Bonuses | None offered |
| Customer Support | 24/6 |
Despite an enhanced MetaTrader offering, HFM provides a limited selection of tradable products compared to leading multi-asset brokers. Founded in 2010, HFM is regulated in one tier-1 jurisdiction and three tier-2 jurisdictions, making it a safe broker.
| PROS | CONS |
| Award-winning broker | Offshore broker |
| Well regulated | |
| Low minimum deposit |
| Feature | Information |
| Regulation | CySEC, DFSA, FCA, FSA, FSCA |
| Minimum deposit from | $5 |
| Average spread from | 0,0 pips |
| Commissions from | USD 0.03 per 1K lot. |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | 100% Supercharged Bonus |
| Customer Support | 24/5 |
OvalX is regulated by the top-tier FCA.
On the plus side, you can use a lot of deposit and withdrawal options and they are free of charge. The broker offers seamless and hassle-free account opening. There is a wide range of educational tools and they have great quality.
OvalX has some drawbacks though. The trading fees are quite high. Its product range is limited to FX, CFDs, and cryptos. The research tools are limited.
| PROS | CONS |
| Award-winning customer support
Long operational history Powerful analytical tools Comprehensive educational offering | High trading fees |
| Feature | Information |
| Regulation | FCA |
| Minimum deposit from | GBP 200 |
| Average spread from | 0.5 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:30 |
| Bonuses | None |
| Customer Support | 24/5 |
Dukascopy offers a wide variety of services and features that are designed for both beginner and professional traders.
This includes access to Forex ECN trading through the Swiss FX Marketplace (SWFX), CFD trading on Stocks, Indices, Commodities, and Cryptocurrencies, as well as access to Binaries trading.
Users can also access banking services, which allows clients to transfer money between accounts for free, open plastic or virtual Dukascopy card and use it for online and offline payments as well as ATM withdrawals.
| PROS | CONS |
| Good choice for high volume traders
Comprehensive analytical tools Flexible trading on advanced platforms Good selection of currency accounts | High commission
Charges withdrawal fees High minimum deposit Charges inactivity fee |
| Feature | Information |
| Regulation | FINMA |
| Minimum deposit from | $100 |
| Average spread from | 0.3 pips |
| Commissions from | $49.5 per $1 million traded |
| Deposit/Withdrawal Fees | Varies depending on the method |
| Maximum Leverage | 1:200 |
| Bonuses | 10% Equity Bonus |
| Customer Support | 24/5 |
While Swissquote’s Advanced Trader platform suite is user-friendly, its underlying platform technology needs an upgrade from flash to HTML5. Fortunately, Swissquote offers the full MetaTrader platform suite, which also comes with better pricing.
Swissquote offers full support for the underlying trading of crypto-assets like Bitcoin and Ethereum, as well as a range of other assets.
| PROS | CONS |
| Comprehensive product portfolio
Solid reputation No additional forex fees | High trading fees |
| Feature | Information |
| Regulation | FCA |
| Minimum deposit from | None for a standard account |
| Average spread from | 1.6 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | $10 |
| Maximum Leverage | 1:400 |
| Bonuses | Refer a Friend Bonus |
| Customer Support | 8/5 |
Forex.com was founded in 2001 and is regulated in multiple countries. It offers robust trading platforms for the new trader as well as the professional. Its parent company is GAIN Capital Holdings, which trades on the NYSE under ticker GCAP.
Pricing is transparent, although several types of accounts are offered. For instance, in one account type traders pay the spread on every trade.
Other types of accounts charge a commission but the spread is smaller. Forex.com provides the average spreads for all of these types of accounts.
| PROS | CONS |
| Low Forex fees | Limited asset portfolio |
| The high number of currency pairs
Well-regulated | High stock CFD fees |
| Feature | Information |
| Regulation | FCA, CIMA |
| Minimum deposit from | $50 |
| Average spread from | 1 pip |
| Commissions from | Commissions on the commission account only |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | Variable dependent on instrument traded |
| Bonuses | 20% Welcome Bonus |
| Customer Support | 24/5 |
EASY MARKET provides the MT4 trading platform to traders and has also created its own proprietary web trader.
The web trader also comes with a hidden cost to traders in the form of higher spreads. The MT4 trading platform is provided as the basic version only but remains the best choice available.
| Pros
Highly simulated demo environment Responsive and professional customer support
| Cons
The Proprietary Deal Cancellation feature is not available on the MetaTrader 4 platform |
| Feature | Information |
| Regulation | CySEC |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | $25 Sign Up Bonus |
| Customer Support | 24/5 |
FBS is a MetaTrader-only broker licensed in Belize that lacks regulatory status in major jurisdictions. It offers a small range of tradeable instruments and has wide spreads on its crypto CFDs.
| Pros
Low minimum deposit Comprehensive educational and research tools Well regulated, with investor compensation
|
Wider than average spreads |
| Feature | Information |
| Regulation | ASIC, FCA, DFSA |
| Minimum deposit from | $1 |
| Average spread from | 0.0 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | $1 |
| Maximum Leverage | 1:3000 |
| Bonuses | $100 Deposit Bonus |
| Customer Support | 24/5 |
ThinkMarkets is a very well-regulated international broker which has been operating in South Africa since 2017.
It offers support for MT4, MT5, and its own ThinkTrader platform on two account types: One with a very low minimum deposit and the other a commission-based ECN account for more experienced traders
| Pros
Excellent customer support Streamlined account opening process | Cons
Not much in the way of educational resources for beginner traders, apart from the demo account |
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | $250 |
| Average spread from | 1.2 pips |
| Commissions from | $3.5 per side |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | $500 Sign Up Bonus |
| Customer Support | 24/6 |
No, MetaTrader 4 is a trading platform that licenses its software to forex brokers to provide access to its trading capabilities for their clients.
MT4’s powerful suite of trading capabilities will certainly make it much easier to execute the most successful trade strategies for maximum potential profits
There are no additional costs for downloading MT4
Check out our list of the 27 best MetaTrader 4 brokers directly on the Forex Suggest website
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