Best MT4 Brokers – Top Brokers Compared

MT4 is one of the most popular trading platforms worldwide – and understandably so. Packed with useful features and advanced charts, MT4 is the favoured software for traders across the globe, with the only requirement being that you have an account with an accepted MT4 broker.

In this guide, we explore the Best MT4 Brokers, discussing their attributes and pay structures and showing you how to get set up and ready to trade – all in less than ten minutes.

Best MT4 Brokers List

The list below presents the best MT4 brokers available today. If you’d like to learn more about them, the following section explores each of the online brokers in detail, highlighting their key features and discussing their fees and deposit options.

  1. – Overall Best MT4 Broker
  2. AvaTrade – Best MT4 Broker for Leverage
  3. Libertex – Best MT4 Broker with Low Brokerage Fees
  4. Vantage FX – Best MT4 Broker for ECN Account
  5. IG – Best MT4 Broker for Asset Selection
  6. Skilling – Best MT4 Broker for Asset Selection
  7. FXCM – Best MT4 Broker for Educational Content
  8. – Best MT4 Broker for Low Fees
  9. OANDA – Best MT4 Broker with No Minimum Deposit
  10. Pepperstone – Best MT4 Broker for Cost-Effective Trading

Top 10 MT4 Brokers Reviewed

If you are looking for the best forex brokers that offer support for MT4, then you’re in the right place. This section covers the best options for trading the foreign exchange market using MT4, highlighting each broker’s features and fee structure.

1. – Overall Best MT4 Broker

Our recommendation for the best MT4 broker to trade forex with is have been around reviewsince 2016 and are fully regulated by the Financial Conduct Authority (FCA) and CySEC. In addition, they are also covered under the Financial Services Compensation Scheme (FSCS) – ensuring customers’ capital is protected in the unlikely event of bankruptcy. mt4 broker


One of the best things about is that they do not charge any commissions when trading CFDs. This contrasts with many other brokers who could charge a percentage of your position size as a commission. Furthermore, spreads on many of the currency pairs offered by are incredibly tight, meaning that you get market-leading rates when you trade with this broker.

In addition to low spreads, does not charge any deposit or withdrawal fees whatsoever. Users can make deposits from as little as £20 – meaning that you can begin small and increase your trading amount over time. Finally, even offer a handy demo account to use, which lets you gain trading experience in a risk-free manner.


  • 0% commissions
  • Tight spreads
  • No deposit or withdrawal fees
  • Useful demo trading feature
  • Minimum deposit of only £20


  • Only offers CFDs

71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

2. AvaTrade – Best MT4 Broker for Leverage

avatrade brokerFounded back in 2006, Avatrade is a well-established broker that has more than 200,000 users worldwide. Primarily offering CFD trading instruments, Avatrade is very popular with traders across the world thanks to its 0% commission structure. In addition to this, Avatrade is monitored by top regulators such as the FCA, ASIC and the FSCA – ensuring your capital and personal details are afforded the highest levels of security.

avatrade best mt4 broker

Avatrade can be thought of as one of the best MT4 forex brokers available, as they offer a total of 56 currency pairs for users to trade. These pairs comprise majors, minors, and even some exotics, ensuring a wide variety of online trading options. Furthermore, Avatrade is a high leverage forex broker, as users can use up to 1:500 leverage on FX trades. In essence, this provides the opportunity for your position size to be magnified by up to 500x!


  • 0% commissions
  • Regulated by FCA, ASIC, and FSCA
  • Large selection of currency pairs to trade
  • Up to 1:500 leverage
  • More than 200,000 active users


  • Only offers CFDs

72% of retail CFD accounts lose money with this provider.

3. Libertex – Best MT4 Broker for 0% Spread

libertex reviewAnother of the best MT4 brokers is Libertex. Libertex is popular when it comes to trading (especially in the forex market) due to their 0% spread offering. This means that you’ll get the same bid and ask prices when speculating on currencies – making Libertex one of the best MT4 forex brokers when it comes to cost-effectiveness. In addition to their zero spread fee structure, Libertex also offers low commissions when trading major currency pairs, ensuring low trading costs for users.

libertex mt4 broker

Much like the other brokers on our list, Libertex allows full integration with MT4 so that when you place a trade using the platform, the requisite capital will automatically come from your Libertex account. In addition, Libertex is also regulated by CySEC, adding further credibility to its services. Finally, Libertex also offers a valuable MT4 demo account for users, which comes with a balance of €50,000 – this is ideal for traders who haven’t used MT4 before and wish to become familiar with the platform without risking real money.


  • Zero spreads
  • Low commissions
  • Full compatibility with MT4
  • Demo account feature


  • Only offers CFDs

83% of retail investors lose money trading CFDs at this site.

4. Vantage FX – Best MT4 Broker for ECN Account

VantageFX logo

Vantage FX is another excellent addition to our list of the best MT4 trading platforms, thanks to their great asset selection and useful leverage facilities. Founded back in 2009, Vantage FX is regulated by the ASIC and CIMA, ensuring that users’ safety is a top priority. One of the major selling points for Vantage FX is that they offer various account types including a ‘Raw ECN’ account, which means you can trade the forex markets using institutional-grade liquidity. In essence, this means spreads are minimal – even as low as 0.1 pips for major pairs!

vantage fx best mt4 broker

Aside from these tight spreads, Vantage FX does not charge any deposit, withdrawal or inactivity fees. Users can make deposits via credit/debit card, bank transfer, or various popular e-wallets. Notably, only the first withdrawal of the month is free – any subsequent withdrawals will come with a £20 charge. Finally, Vantage FX offers full support for MT4 and ensure traders have a variety of order types available such as market and limit orders, as well as trailing stops and traditions stops.


  • Regulated by ASIC and CIMA
  • Various account types to choose from
  • Raw ECN account available with low spreads
  • No deposit or withdrawal fees
  • Full MT4 support


  • Subsequent withdrawals have high fee each month

Your capital is at risk.

5. IG – Best MT4 Broker for Asset Selection

IG has been in operation since 1974, making them one of the most well-established MT4 forex brokers on our list. Not only is IG listed on the London Stock Exchange, but they are also regulated by top-tier entities such as the FCA and BaFIN. One of IG’s main selling points is their vast selection of currency pairs to trade – at the time of writing, they offer a total of 205 pairs, made up of majors, minors, and exotics.

IG mt4 broker

IG does not charge a commission when trading the FX market, as their spread is all-inclusive. Notably, their spread is not as low as some other brokers on this list, averaging at 0.85 pips for EUR/USD. Furthermore, IG offers many methods to fund your account when it comes to deposits, with all methods completely free to use. In addition to this, withdrawals are entirely free too. Finally, IG also provides a valuable demo account to use, allowing users to try out IG’s services and make sure they are a good fit before trading for real.


  • Established for over 40 years
  • Listed on LSE
  • Huge selection of assets
  • Free deposits
  • No commissions charged


  • Spread can be higher than some other brokers

Your capital is at risk.

6. Skilling – Best MT4 Broker for Asset Selection

Skilling logo

Founded in 2016, Skilling is relatively new to the trading scene and offers a streamlined and attractive user experience that caters to traders of all experience levels. Skilling is regulated by both CySEC and the FSA, providing credibility and reliability to their platform. As Skilling are primarily a CFD broker, they offer a vast selection of assets that users can speculate on – including a total of 73 currency pairs.

skilling best mt4 broker

In terms of fees, Skilling offers a relatively low spread on many top currency pairs – for example, GBP/USD’s average spread is only 0.5pips. However, if you use their Premium account (requiring a $5000 deposit), you can gain access to spreads as low as 0.1 pips – although you will be required to pay a commission for this feature. Finally, Skilling also offers up to 1:30 leverage on major currency pairs and 1:20 on minors, allowing users to boost their position size and potential profits.


  • User friendly platform
  • Regulated by CySEC and FSA
  • 73 currency pairs to trade
  • Tight spreads
  • Up to 1:30 leverage


  • Premium account requires $5000 deposit

Your capital is at risk when trading CFDs with this provider.

7. FXCM – Best MT4 Broker for Educational Content

FXCM is one of the most popular MT4 forex brokers available to traders in the United Kingdom, providing a safe trading environment through regulation from the FCA. Offering fully-fledged integration with MT4, FXCM allows users to employ advanced forex tools and custom indicators to optimise their trading. What’s more, you can even use a forex robot or copy trading tool to automate your trading if you wish.

fxcm mt4 broker


Much like some of the other MT4 trading platforms on this list, FXCM does not charge any commissions when you trade. The only thing you’ll have to pay is the spread, which is relatively competitive. For example, the average spread on EUR/USD is 1.3 pips, but this can widen when trading minors or exotics. When trading currencies, FXCM also offers up to 1:30 leverage, which is ideal for those looking to boost potential profits. Finally, FXCM is super popular thanks to their extensive selection of educational materials – they offer a huge knowledge base with guides and articles covering all aspects of trading the financial markets.


  • Regulated by the FCA
  • No commissions
  • Competitive spread
  • Extensive selection of educational materials
  • Huge selection of assets


  • More suited for experienced traders

Your capital is at risk.

8. – Best MT4 Broker for Low Fees has been around since 2001 and is well-established in the FX market, with parent company StoneX Financial even being listed on the Nasdaq Stock Exchange. is heavily regulated by some of the world’s top organisations, including the FCA and the CFTC. In terms of asset selection, ensure traders have an extensive range of trading options – including a total of 91 different currency pairs. best mt4 platform

If you are using MT4 to trade, you’ll need to sign up for’s standard account. This account has slightly higher spreads than some other brokers, with EUR/USD averaging 1.4 pips during good trading conditions. The great thing is that’s support for MT4 extends to smartphones, too – meaning you can trade on the go. Finally, require a minimum initial deposit of only $100, which can be made via credit/debit card, bank transfer, or PayPal.


  • Parent company listed on NASDAQ
  • Regulated by multiple top regulatory bodies
  • Large selection of currencies to trade
  • Lots of up-to-date forex news
  • Minimum deposit only $100


  • Spreads can be higher than some other brokers

Your capital is at risk.

9. OANDA – Best MT4 Broker with No Minimum Deposit

The penultimate entry on our list of the best MT4 forex brokers is OANDA. Founded in 1996, OANDA is regulated in the UK by the FCA, ensuring a safe and secure trading environment for users. One of OANDA’s main selling points is the low fees they charge when forex trading – the average spread for EUR/USD is only 0.6 pips during peak trading hours, which puts them firmly in the category of low spread MT4 brokers.

oanda best mt4 brokers

OANDA do not charge any deposit, withdrawal, or monthly account fees, meaning users can trade cost-effectively. Notably, OANDA does charge an inactivity fee – but this only comes into effect after a year of no trading activity. In terms of funding your account, OANDA accepts deposits via credit/debit card, bank transfer, and e-wallets. The great thing is that OANDA does not have a minimum deposit amount – meaning you can deposit as much or as little as you want!


  • FCA regulated
  • Very low spreads
  • No deposit, withdrawal, or monthly account fees
  • Multiple deposit methods
  • No minimum deposit amount


  • Inactivity fee applies

Your capital is at risk.

10. Pepperstone – Best MT4 Broker for Cost-Effective Trading

Peppersone logoRounding off our list of the best MT4 forex brokers is Pepperstone. Regulated by the FCA and ASIC, Pepperstone offers a safe trading environment for traders across the world. Notably, Pepperstone provides a useful ‘Razor account’ that can be used with MT4. Trading using this account will be accompanied by a small commission plus a tight spread. However, if you are an active trader, you will be enrolled in Pepperstone’s active trader program, which means you’ll get a percentage of the spread repaid to you each month.

pepperstone mt4 broker

With full MT4 support, Pepperstone ensures users can trade optimally and use advanced tools such as indictors and algorithms. Pepperstone requires an initial deposit of at least $200, which can be made via credit/debit card, bank transfer, or various e-wallets. The great news is that Pepperstone does not charge any deposit or withdrawal fees when using their platform – ensuring you can trade in a low-cost manner.


  • Regulated by the FCA and ASIC
  • Razor account offers tight spreads
  • No deposit or withdrawal fees
  • Opportunity to benefit from active trader program


  • Slightly larger initial deposit required

Your capital is at risk.

What is MT4?

MetaTrader 4 (commonly referred to as MT4) is a trading platform used by forex traders worldwide to research and place trades. MT4 was created by MetaQuotes Software and was released to the public in 2005. Over the following years, many brokers began partnering with MetaQuotes Software to offer the MT4 platform to users. This created a snowball effect that enhanced MT4’s popularity – leading to DailyForex reporting that MT4 was the most popular forex trading platform in the world in 2020.

MT4 is available on both computer and through the MT4 app, which can be downloaded onto smartphones (such as iOS and Android) and tablets. Furthermore, you can even get MT4 for Mac too. The platform works by linking with your broker account and using their service to place trades. These trades can then be closed out using the MT4 platform, too – with any resulting profits or losses being added/deducted from your trading balance.

what is mt4

The reason MT4 is so popular with forex traders is because of its inherent customisability. Unlike many trading platforms offered by brokers, MT4 allows 3rd party companies to build MT4 indicators and algorithms which traders can use on the MT4 platform. In addition, Expert Advisors (EAs) and trading robots can also be used, which will automate a user’s trading – these are very simple to install and can even be downloaded for free from the MQL5 marketplace.

Overall, if you have experience within the forex market and know how it works, using MT4 is probably the best way to facilitate your trades. Although the user interface may seem a little outdated compared to other platforms, MT4 still has the upper hand regarding practicality and customisation.

MT4 vs MT5

Although MetaTrader 5 (MT5) is essentially a new version of MT4, the latter is still the most widely used version. At first, this may seem counterintuitive as MT5 was built as an upgrade to MT4. However, there are some critical differences between the two that are worth noting.

Most importantly, MT4 was built solely for forex traders, whilst MT5 was designed to be used by traders interested in a broader range of assets. Assets available to be traded on MT5 include stocks and commodities facilitated through a centralised trading exchange. Furthermore, MT5 uses the MQL5 programming language, which is superior to the MQL4 language used by MT4. This means that it’s easier to build add-ons for MT5 than MT4, although robots and algorithms constructed for MT5 are not backwards compatible.

Finally, MT5 also offers more time frames and depth of market data, which can be helpful for people interested in scalping. Overall though, MT4 is still the most popular platform for forex traders as the features offered by MT5 are not worth transitioning over for. In addition, MT4 is still the platform most widely offered by top brokers, meaning forex traders continue to use MT4 instead of MT5. Ultimately, the term ‘if it’s not broke, don’t fix it’ is an excellent way to sum up the MT4 vs MT5 debate.

Why Use MT4?

So, why should you partner with one of the best MT4 brokers to use MT4? There are various reasons why using the platform can help your trading, with three of the main reasons discussed below.

Indicators and Charting

One of the main features of MT4 is the research capabilities offered by the platform. Technical analysis plays a pivotal role in forex trading, so the charting and indicators provided by MT4 ensure traders can conduct proper analysis and optimise their trading. In addition, MT4 offers customisable charts which update in real-time, with several popular timeframes available for traders to use.

Furthermore, MT4 also offer support for hundreds of different MT4 indicators, with both free and paid versions available on the MQL5 marketplace. Users can easily add these MT4 indicators to their charts to enhance analysis and trade more efficiently. If you have coding know-how, you can even develop and use your own indicator if you wish!


Aside from charting and MT4 indicators, you can also use robots to trade on your behalf. These robots are innovative pieces of software that will place trades automatically based on their built-in strategy. Auto-trading in this way is ideal for many traders as it means they do not need to be at the charts all day; in addition, using a robot also eradicates emotion from trading, which can sometimes hamper decision-making.

MT4 also have a dedicated marketplace for Expert Advisors (EAs), which are essentially robots that trade on your behalf. Much like indicators, there are both free and paid versions that ensure EAs are accessible to everyone. The great thing is that these EAs are extremely simple to use – all you have to do is download and install them, and then you’re good to go.

Adapted for Multiple Devices

Finally, by partnering with the best MT4 brokers, you can trade on the go using the MT4 mobile app on your smartphone. This is ideal when trading the forex market, as opportunities can sometimes appear within seconds, meaning you have to act fast to catch them. Furthermore, the MT4 platform synchronises seamlessly across all of your devices, allowing you to place a trade on your computer and then monitor it on your phone whilst you are out and about.

How to Choose the Best MT4 Broker for You

Choosing which of the best MT4 trading platforms to go with can seem tricky as there is such a wide array of options these days. To help you make your decision, this section highlights three key things to look out for when choosing an MT4 broker.


Understandably, the MT4 trading platform’s fee structure is essential to consider when making your decision. Finding a broker like that offers 0% commission trading is one way to reduce the amount of fees that you will pay. However, as brokers must be compensated in one way or another, there will never be a completely ‘free’ way to trade the forex market.

Low-spread brokers are another way to reduce any charges you may accrue. The spread is the difference between the bid and ask prices, so if the spread is tight, it means you’re essentially paying less of a ‘fee’ to conduct a trade. Finally, some brokers may charge a deposit or a withdrawal fee, too; so keep an eye on this and any other non-trading fees that may be applicable.

Asset Selection

Different MT4 trading platforms will offer varying degrees of asset selection, so it’s a good idea to look at this before signing up. In terms of forex trading, it’s essential to check that your chosen broker has a solid selection of currencies to trade, ensuring you are never short of opportunities in the market.

Some brokers will go a step further and offer minors and exotics in addition to the major currency pairs. Minors and exotics are less-traded currencies with lower liquidity but can provide potentially lucrative opportunities if traded correctly. MT4 trading platforms that offer these pairs are often very popular with forex traders experienced in the market.


Finally, you must partner with a licensed and regulated broker to ensure your personal details and capital are protected. Most of the top brokers on our list are regulated by reputable entities such as the FCA or CySEC, which means they must abide by strict security policies designed to protect their customers. Using a regulated broker allows you to trade with confidence as you can be sure that your trading account is afforded the highest levels of protection possible.

How to Get Started with an MT4 Broker

Now that you have everything you need to know about MT4 and the top brokers available to partner with, it’s time to discuss how to get set up and ready to trade using MT4. The steps below will show you how to do so with – we recommend this broker over other forex brokers as they offer 0% commissions when trading forex and allow you to open up an account in a matter of minutes.

Step 1: Open a Account

Head over to’s website and click the ‘Trade Now’ button in the top right. Next, enter an email address and choose a password to sign up for an account. sign up

Step 2: Verify Account and Deposit Funds

To ensure you get total usage of your account, you’ll have to verify yourself. This is very simple to do and is a case of uploading proof of ID (a copy of your driver’s license or passport) and proof of address (a copy of a bank statement or utility bill).

Once these documents have been verified, you are then free to make a deposit. This can be completed via credit/debit card, bank transfer, or various e-wallets. The great thing is that only require a minimum deposit of £20 for new users.

Step 3: Download MT4

Head to the official MT4 website and opt to download MT4 for your chosen operating system. Alternatively, you can download MT4 from’s website, or you can download the MT4 app to your smartphone if you are interested in mobile trading. Once downloaded, install the program and move onto the next step.

Step 4: Link your Broker Account

When you open MT4, you’ll be prompted to log in to your account – this refers to your account you’ve just created. Search for’s live server and enter your login credentials to link your broker account to MT4.

Step 5: Begin Trading

Now that you have a funded account linked to MT4, you can begin trading right away. To place a trade, simply search for the currency pair you are interested in and opt to open a position. Once your trade has been placed, you can keep an eye on the position’s value in real-time at the bottom of the screen. Finally, if you wish to close out your trade, you can do so at any time by right-clicking on the position and selecting ‘Close Order’. – Best MT4 Broker with 0% Commission

This guide has explored the best options available when it comes to MT4 brokers. With MT4 remaining the top trading platform for forex trading, choosing a reliable and cost-effective broker to partner with is crucial to trading effectively. Using the list provided earlier in this guide, you can be sure to find an option that will help optimise your trading in the future.

However, if you’d like to begin trading right away, we’d recommend opening an account with With a stellar reputation and regulation from top entities, are incredibly reliable and ideal for traders of any experience level. What’s more, offer very low spreads on many of their forex pairs, ensuring you can trade cost-effectively. review

Your capital is at risk.

71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.


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