MetaTrader 4 Forex Brokers (MT4 FX Brokers)
MT4 brokers list
A list of FX brokers that support MetaTrader 4 Forex trading software as a primary trading platform can be found below. MetaTrader 4 offers Forex traders a very flexible trading environment including trading automation with MT4 expert advisors. Almost all of the presented MT4 Forex brokers offer easy account opening procedure and accept popular electronic payment payment methods. You can quickly download their MT4 platform and open a demo account there in seconds. Since the developer of MetaTrader 4 no longer offers this platform for download from their official website, getting a demo MT4 account from a broker is now the only way to download MetaTrader 4 for all your needs. You will find 190 brokers listed in the table below.
Why trade with an MT4 broker?
There is hardly any reason not to have an account with an MT4 Forex broker, at least a demo account, but here are the reasons to register one:
- You need an access to an outstanding charting tool that is free to use.
- You would like to benefit from thousands of custom user-created indicators, robots, and scripts.
- You want to be trading in a platform that natively supports holding both Buy and Sell positions on the same currency pair in the same account at the same time (also known as hedging or locking).
- You need a free strategy testing tool.
- You want to download MT4 and can no longer access it from MetaQuotes' website.
What to avoid in an MT4 broker?
Not all MT4 Forex brokers are created equal. Conditions vary greatly between companies. Their reliability and reputation aren't the same even if the provided trading software is the same. If you are a looking for a broker you can entrust your live funds to, it is important to avoid some specific traits you might see in MT4 brokerages:
- No clear regulation or registration address. Although, you might well be looking to open an account with an offshore MT4 broker to benefit from higher leverage, it is still important for the company to provide at least some information about where it is registered.
- Poorly designed website that makes it difficult to understand the terms of use or find trading conditions. Sometimes, the website just screams SCAM at you, and sometimes, it is just easy to tell that the broker didn't pay their designer much and won't likely be in the business for long.
- Inability to open a functioning demo account. A demo account is important even if what you need is a live account. Not being able to use a demo is a bad signal about the broker's quality.
- A preponderance of bad reviews. Sometimes, traders just complain about lost trades. But sometimes, they offer genuine overview of what to expect at a broker. If too many reviews are pointing at the same problem, it's likely true.
- Poor support. Before committing significant amounts of money to your trading account, test the broker's support service. You don't want to end up with dysfunctional support when you have a serious funds at stake.
