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Did you know that the MetaTrader 4 (MT4) trading platform is one of the most popular online trading platforms in the world? Having the right platform, with the right broker, is essential as it is your gateway to the world’s financial markets. But who are the best MT4 brokers to use?

Read on to learn more about the unique benefits and features of the MetaTrader 4 trading platform, who the best MetaTrader 4 brokers are, and the simple steps to get started today!

Best MT4 Broker List

Below is a list of some of the best MT4 brokers around who also offer some very interesting and unique features for traders. Scroll down to read a more in-depth review of each of these MetaTrader 4 brokers.

  1. Libertex – Overall Best MetaTrader 4 Broker
  2. Forex.com – Best MT4 Broker for US Traders & DMA Trading
  3. AvaTrade – Best MetaTrader 4 Broker for Account Types
  4. Pepperstone – Best MT4 Broker for Fast Execution
  5. IG – Best MT4 Broker for Forex

Best MetaTrader 4 Brokers Reviewed

One of the best aspects of the MetaTrader 4 trading platform is that it is free to use! However, with many different providers offering this state-of-the-art platform, how do you choose the best MT4 broker?

It’s an important question as you’ll be depositing and withdrawing funds with your chosen broker, they’ll be storing your data and holding your trading funds. You want to make sure they are trustworthy and facilitate safe and secure services.

Additionally, making sure they offer competitive trading fees, high-quality trade execution, stellar customer service and additional trading tools is essential! To help you in this journey, you will find a review of some of the best MT4 brokers for this year. Enjoy!

1. Libertex – Overall Best MT4 Broker

Libertex has more than 2.2 million customers worldwide in more than 27 different countries and is the Official Trading Partner of football clubs Tottenham Hotspur and Valencia CF.

This CFD broker offers traders the ability to trade on more than 200+ financial CFD instruments covering stocks, indices, commodities, currencies, cryptocurrencies, ETFs, and more. Users can choose from five different trading accounts with the highest VIP+ account offering a 50% discount on commissions.

Better yet, the broker is regulated and authorised by the Cyprus Securities and Exchange Commission which means they offer a negative balance protection policy for retail clients and segregate client funds from their own. They have even won awards for their services and offerings!

Trading fees are extremely competitive and there are some huge discounts available across the different account types.

Libertex won Trading Platform of the Year in 2020

Users can also deposit funds commission-free using a wide variety of methods such as credit and debit cards, bank transfers, and e-wallets like Neteller, Skrill, iDeal, Multibanco, Neosurf, and many others.

Libertex fees

Fee Amount
Stock trading fee Commission. 0.034% for Amazon.
Forex trading fee Commission. 0.008% for GBP/USD.
Crypto trading fee Commission. 1.23% for Bitcoin.
Inactivity fee $5 a month after 180 days
Withdrawal fee Free

Pros:

  • Access all of the benefits and features of the MT4 broker platform for desktop, web and mobile.
  • Authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), offering negative balance protection for retail clients.
  • Trade on more than 200+ financial CFD instruments covering stocks, indices, commodities, currencies, cryptocurrencies, ETFs, and more.
  • Low commissions with huge discounts are available for VIP account holders.
  • Commission-free deposits via debit/credit card, bank transfer, or e-wallets.
  • Access customer support 8 am to 8 pm CET, Monday to Friday, in multiple languages via Live Chat, Telegram or WhatsApp.

Cons:

  • Limited trader research and market analysis.

You can get started with the Overall Best MT4 Broker Libertex by clicking on the following button and accessing all of their unique trading features and huge discounts for VIP account holders.

Your capital is at risk.

2. Forex.com - Best MT4 Broker for US Traders & DMA Trading

Forex.com is part of the StoneX Group which is a publicly listed company on the Nasdaq Stock Exchange. As such, they provide traders with the highest standards of governance, reporting, disclosure, and safety.

The forex trading platform provides a strong regulatory framework and is authorised and regulated by the UK Financial Conduct Authority (FCA), the Financial Services Authority (FSA) of Japan, and by the Commodity Futures Trading Commission (CFTC) while being a member of the National Futures Association (NFA) in the United States.

Forex.com MT4 Brokerage

Forex.com offers the ability to access more than 300+ global markets including 80+ currency pairs, 220+ equities, as well as commodities and indices and is considered to be one of the largest MetaTrader brokers on the planet. You can use the platform to perform your own technical analysis

While the broker already offers low commissions and tight spreads they also provide access to a DMA Trading Account for serious traders wanting deep liquidity. This allows traders to gain access to deep Foreign Exchange liquidity pools for the best bid and offer quotes from the world’s largest banks and liquidity providers.Why choose Forex.com

Through the broker’s DMA Trading accounts traders can also earn 1% APY interest on balances up to $50k, as well as one-to-one support from market strategists, priority services, and waived bank fees.

Forex.com fees

Fee Amount
CFD trading fee Variable spread
Forex trading fee Spread. 0.2 pips for EUR/USD
Crypto trading fee N/A
Inactivity fee $15 a month after 365 days
Withdrawal fee Free

Pros:

  • Access all of the benefits and features of the MT4 broker platform for desktop to install technical indicators, web, and via its mobile app.
  • Available for US and Canada forex traders.
  • Trade with an MT4 broker backed by a publicly traded company listed on the Nasdaq Stock Exchange.
  • Authorised and regulated by the UK FCA, ASIA, FSA, CFTC, NFA, and others, according to its legal disclaimer.
  • Trade on more than 300+ markets covering stocks, indices, commodities, and currencies with several forex pairs.
  • Access to DMA Trading Accounts for the best bid and offer quotes directly from the world’s biggest banks and liquidity providers.
  • Access customer support Sunday to Friday 24 hours a day.

Cons:

  • No cryptocurrencies are available yet.

You can get started with the Best MetaTrader 4 Broker for US Traders & DMA Trading Forex.com by clicking on the following button and trading with a Direct Market Access broker owned by a publicly-listed company on the Nasdaq Stock Exchange!

Your capital is at risk.

3. AvaTrade - Best MetaTrader 4 Broker for Account Types

AvaTrade is a globally regulated broker offering strong oversight from the Central Bank of Ireland, Australia Securities and Investments Commission, Financial Services Agency of Japan, and many others.

The broker provides the ability to trade on more than 1,250+ global markets covering Forex, stocks, bonds, indices, ETFs, commodities, and cryptocurrencies. Over 300,000 registered traders place more than 3 million trades every month with the broker.

AvaTrade MT4 Broker

With AvaTrade, users can trade from a variety of different trading accounts. This includes Spread Betting, CFD Trading, Options Trading, and Islamic Swap-Free accounts. The broker also offers access to professional trading accounts for serious traders.

Traders can also access a variety of educational and research tools which includes videos, articles, and a blog. In fact, the broker provides access to services from Trading Central which provide actionable, real-time trading ideas, tutorials, and user-friendly research.

Customer support is offered in more than 14 different languages Monday to Friday via Live Chat, Phone, and Email. Users can also access all the range of features trading with a MetaTrader 4 broker such as access to the MetaTrader Market place and Signals service.

AvaTrade fees

Fee Amount
CFD trading fee Variable spread
Forex trading fee Spread. 0.9 pips for EUR/USD
Crypto trading fee Commission. 0.25% (over-market) for Bitcoin/USD
Inactivity fee $50 per quarter after three months of inactivity
Withdrawal fee Free

Pros:

  • Access all of the benefits and features of the MetaTrader 4 broker platform for desktop (to run your EAs), web, and mobile.
  • Access 24/7 cryptocurrency trading.
  • Authorised and regulated by the CBI, BVI, ASIC, FSA, FSCA, ADGM, and others.
  • Trade on more than 1,250+ markets covering stocks, indices, currencies, commodities, and cryptocurrencies.
  • Wide range of account types available: Spread Betting, CFD Trading, Options Trading, Islamic Swap-Free accounts, and others.
  • Access AvaProtect, a unique risk management tool exclusive to AvaTrader which allows you to get your money back on losing trades.

Cons:

  • Minimum deposit of $100.

You can get started with the Best MetaTrader 4 Broker for Account Types AvaTrade by clicking on the following button and accessing the full suite of account types available such as Spread Betting, CFD Trading, Options Trading, and Islamic Swap-Free accounts!

Your capital is at risk.

4. Pepperstone - Best MT4 Broker for Fast Execution

Pepperstone is a globally regulated online broker and offers strong oversight from the UK FCA, CySEC, CMA, and DFSA. They also look after your capital by segregating them from company funds and holding them in tier one banking institutions.

The broker provides traders with access to more than 180+ financial CFD instruments covering Forex, stocks, indices, commodities, and cryptocurrencies. Users can access commission-free trading accounts, Islamic swap-free trading accounts as well as commission-based accounts with ultra-low spreads from 0 pips.

Pepperstone, considered as one of the best forex brokers in Australia, prides itself on delivering ultra-fast execution for traders with execution speeds of less than ~30ms. This is ideal when trading on Pepperstone’s Razor Account which offers institutional grade spreads from 0 pips and low commissions.

Professional clients can also access leverage of up to 1:500 on currencies and 1:200 on indices. Not only that but serious traders could join the Active Trader Program where you receive rebates on your trades when dealing in high volume.Pepperstone Low Spreads

With full access to all the benefits and features of trading with a MetaTrader 4 broker, users can also access MetaTrader Signals to use social trading services and copy the trades of other traders. There are also a ton of upgrades available to the MetaTrader platform such as Smart Trader Tools and Autochartist services.

Pepperstone fees

Fee Amount
Stock trading fee $0.02 per US stock
Forex trading fee Spread, 1.59 pips for GBP/USD
Crypto trading fee Spread, 50 pips for Bitcoin
Inactivity fee Free
Withdrawal fee Free

 

Pros:

  • Access all of the benefits and features of the MetaTrader 4 broker platform for desktop, web, and mobile.
  • Supercharge your MetaTrader 4 platform with exclusive plugins such as Smart Trader Tools and Autochartist.
  • Authorised and regulated by the UK FCA, CySEC, ASIC, DFSA, and CMA.
  • Trade on more than 180+ markets covering Forex, indices, stocks, commodities, and cryptocurrencies.
  • Commission-free trading available with access to institutional grade spreads.
  • Professional trading accounts and Active Trader Program accounts available to receive rebates on high volume.

Cons:

  • Not available for US or Canada residents.

You can get started with the Best MT4 Broker for Fast Execution Pepperstone by clicking on the following button and start accessing commission-free trading with institutional-grade spreads!

Your capital is at risk.

5. IG (US) - Best MetaTrader 4 Broker for Forex

IG has been one of the leaders in currency trading in Europe since 1974 and recently arrived in the United States. The broker owns the North American Derivatives Exchange (NADEX) and the DailyFX.com financial news and analytics website.

With IG, traders can access a large range of currency pairs to trade, more than 80+ covering majors, minors, and exotics such as the Brazilian real, Russian ruble, Indian rupee, and more. The broker currently boasts its Forex spreads are 20% lower than two of the largest US brokers.IG Forex Trading US

Users can access the full range of MetaTrader 4 services, as well as the 99%+ server uptime between MT4 and IG. The broker also provides traders with free and instant access to 18 additional indicators and tools for the MetaTrader 4 platform.

Along with additional trading tools, traders can access a large database of educational resources and live research and analysis of the currency markets. Traders can also access the MetaTrader Signals service, as well as IG’s own Signal service which provides free, real-time trading ideas for a chosen currency pair.IG Forex Rates

With some of the best spreads available and access to 24 hours a day customer support, it is a great place to start for traders. IG also offers strong regulatory oversight and is regulated all over the world with the biggest and well-known financial regulators.

IG fees

Fee Amount
Stock trading fee Commission. 2 cents per share for US stocks, 0.10% for UK and EU stocks.
Forex trading fee Spread. 1.4 pips for GBP/USD.
Crypto trading fee Spread. 36 pips for Bitcoin.
Inactivity fee £12 a month after 24 months.
Withdrawal fee Free

Pros:

  • Access all of the benefits and features of the MT4 broker software for desktop, web, and mobile.
  • Available for US traders.
  • Upgrade your MetaTrader 4 broker platform with IG’s 18 customisable indicators for the platform.
  • Authorised and regulated by the CFTC, NFA, and others such as the UK FCA.
  • Trade on more than 80+ currency markets with highly competitive spreads.
  • Access volume-based rebates and a range of premium research and analysis tools.

Cons:

  • No stocks or ETFs for US traders yet.

You can get started with the Best MetaTrader 4 Broker for Forex IG by clicking on the following button to access some of the best Forex spreads in the U.S.!

Your capital is at risk.

MetaTrader 4 Broker Platform - Benefits & Features

The MetaTrader 4 trading platform is the brainchild of MetaQuotes - a leading developer of financial trading software. In 2005, they revolutionised the trading world with the release of MetaTrader 4 for Windows, Mac, and Linux systems, as well as Android and iOS mobile devices.

The platform is now used by millions of traders around the world to trade Forex, stocks, commodities, indices, cryptocurrencies, and more. It is also the most widely used trading platform for algorithmic and automated traders.

Here are just a few of the benefits and features of the MetaTrader 4 broker platform:

  • Real-time price quotes - View live and historical prices of any of the assets available to trade on.
  • 30 built-in indicators - Access the world’s most popular trading indicators to make better trading decisions.
  • 9 timeframes - View 9 different timeframes so you can trade long-term or short-term.
  • Trading signals - Access the trading signals of other traders and copy them automatically onto your own trading account!
  • Algorithmic trading - Trade any time of trading strategy using Expert Advisors which are simply trading robots that can trade 24 hours a day.
  • MetaTrader Market - The built-in Market place offers more than 1,700+ trading robots and 2,100+ indicators for traders to download.
  • Financial news - Stay up to date with all the latest financial news announcements.
  • Desktop, web and mobile trading - Wherever you are in the world, access the markets and trade!MetaTrader 4 Multi-chart Layout

How to Choose the Best MT4 Brokers

Choosing your MetaTrader 4 broker can be a time-consuming process, even with a shortlist of some of the best MT4 brokers above! There are some key elements you absolutely want your MetaTrader 4 broker to have with some of them listed below. And rest assured that the list above satisfies these elements too.

Regulation and Licenses

While the MetaTrader 4 trading platform is free and offered by many different brokers, it doesn’t mean to say the broker offering the platform is reliable and good enough. One way to separate the bad from the good is to make sure that you pick MT4 brokers that are regulated by a well-known financial regulator.

After all, they will be holding your capital and processing your trades. You want to make sure that they are following strict risk management and safety protocols to protect your capital and to provide you with the best execution service.

Some of the most well-known financial regulators around the world include:

  • US: Commodity Futures Trading Commission (CFTC), National Futures Association (NFA).
  • Europe: UK Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC).
  • Asia: Financial Services Agency (FSA) of Japan, Australian Securities and Investments Commission (ASIC).

As there are many different MT4 brokers that are popping up in offshore jurisdictions make sure you protect yourself by trading with a regulated and licenced MetaTrader 4 broker.

Available Asset Classes

The MetaTrader 4 trading platform allows you to trade on multiple asset classes covering stocks, currencies, indices, commodities, ETFs, bonds, and cryptocurrencies. Be sure to choose a broker that provides you with the asset classes you want to trade on.

Your broker may also provide you with a range of products to speculate on your chosen asset classes. For example, they may offer DMA (Direct Market Access) trading, CFD (Contracts for Difference) trading, Options trading, and other types. Some MT4 brokers may specialise in one of these products or offer you a range that you can test out.

You can also view the asset classes available to trade on via your broker directly from the MetaTrader 4 trading platform, as shown below from the Libertex MT4 broker platform.MT4 Asset Classes Available

This can be accessed by opening the Market Watch window from the View menu at the top of the platform and then by right-clicking and selecting Symbols.

Click on the button to learn more about Libertex and to trade on more than 200+ financial markets with its more than 2.2 million members in over 27 different countries!

Trading Fees

Knowing your MetaTrader 4 broker’s trading fees is essential as it will have the biggest impact on your overall profit and loss. Regulated brokers are often transparent in their trading fees which are typically listed on their website.

As online trading is now so popular, trading fees are now very competitive. Some brokers might offer commission-free trading with low spreads and some may offer commission-based trading with access to even lower spreads direct from the interbank market without any markup from them.

There are a few trading fees to keep an eye out on such as the commission for buying and selling and the spread. The spread is the difference between the buy price and sell price and can be found in the trading platform, as shown in the example below of Libertex’s MetaTrader 4 broker platform.

The above screenshot shows the spread for EURUSD at just 0.4 pips!

It is rare to find brokers that have zero commissions with zero spreads as they need to make their money somewhere! Typically, if one fee is zero there will be a smaller markup on the other fee.

There are also some account fees to be mindful of such as inactivity fees, administration fees, and swap fees for any margin-based trades held overnight.

Trading Tools & Research

Having access to additional trading tools and research is essential to make sure you stay ahead of the game and have an edge in the market. Some brokers will offer research and analysis from their own market analysts. Some will even provide additional upgrades and plugins to your MetaTrader 4 trading platform via Expert Advisors which are programs that have been developed for the platform.

For example, some brokers like AvaTrade, Pepperstone, and IG will offer additional plugins such as Autochartist to help you find real-time, actionable trading ideas. Pepperstone offers a range of additional MetaTrader 4 add-ons such as an Alarm Manager, Connect Feature, Correlation Matrix, Correlation Trader, and many more.

In the Libertex MetaTrader 4 broker platform, you can view the Terminal from the View menu at the top. This then provides a tab called News where you can see all the latest news announcements affecting financial markets.

MT4 displays trading spreads

Click on the button to download the MetaTrader 4 trading platform provided by Libertex for FREE!

Your capital is at risk.

Trading Signals & Copy Trading

Due to huge advances in financial technology, many brokers offer copy trading services. This is where a trader can copy the trades of another trader. In the MetaTrader 4 trading platform, you can access this service directly from the platform.

The MetaTrader 4 Signals service allows you to view the performance of other traders can then choose to follow them. Some Signal providers offer free services and some you need to pay for. However, the brokers listed in the previous section will allow you to open a demo trading account to test these Signal providers first on a virtual, risk-free trading account. Great!

You can access the MetaTrader Signals service by selecting the Signals menu from the Terminal window.

Customer Service

It is important to choose a MetaTrader 4 broker that provides good quality customer service. You want to make sure you can speak to them if anything happens with your platform or if you have any questions regarding your trading account.

With all of the listed MT4 brokers above, traders can access customer service all day via live chat, email, phone, and in some cases social media apps!

How to Get Started with the Best MT4 Broker

Now you know more about why the MetaTrader 4 broker platform is considered one of the world’s most popular trading platforms and some of the best MT4 brokers in the marketplace, let’s do a walkthrough of how you can get started in just a few simple steps.

We will be going through the required steps to get started using the overall best MT4 broker Libertex, the Official Trading Partner of Tottenham Hotspur FC and Valencia CF.

Step 1: Open an Account

Opening an account with Libertex is a simple process and can be done in just minutes from the broker’s website. To start the process, just click Register on the broker’s homepage.

Your capital is at risk.

From here you will be asked to register an account and provide details such as name, email, password, and so on. There is also a short questionnaire to fill out so the broker knows more about you.

Step 2: Upload ID

All regulated brokers, such as Libertex are legally required to verify your identity and address before you can start trading and making withdrawals. Typically, the broker will ask you for two documents:

  1. A valid passport or driver’s licence.
  2. A utility bill or bank account statement (not older than 3 months).

Account verification is usually a quick process and when done you’ll be ready to deposit funds.

Step 3: Deposit Funds

Libertex offers a variety of methods to deposit funds that are commission-free. This includes bank wire transfers, debit/credit cards, PayPal, Trustly, Skrill, Neteller, and many others.

In the Libertex client portal area, clicking Deposit brings up the different options, as shown below:Deposit Funds with Libertex

The minimum deposit with Libertex is just 100 EUR.

Step 4: Download MetaTrader 4

From the Libertex client portal area, you can manage your live trading accounts. By opening an account you will receive download instructions for the MetaTrader 4 trading platform. The download is easy just by following the prompts on the screen.Libertex Download MT4

Step 5: Trade!

From the Libertex MT4 broker platform, you can view all the different instruments that are available to trade on via the broker. This covers more than 200+ global markets covering stocks, currencies, indices, commodities, cryptocurrencies, and more.

Once you have chosen your market, simply open a trading ticket and choose either buy or sell and your unit, or stake size. You can also access advanced functions such as placing a stop loss and take profit level.

You can easily view all of your open trades and their profit or loss in the Terminal section at the bottom of the trading platform.

Click on the button to open your FREE Libertex trading account and download the MetaTrader 4 trading platform for free while accessing a range of other unique features such as huge discounts for VIP account holders and the ability to trade with a top-quality, regulated broker.

Your capital is at risk.

Conclusion

There is a large number of MetaTrader 4 brokers in the world due to the popularity of the platform. However, it is important to do your research in finding the best MT4 brokers to work with.

In this article, we have covered some of the key requirements in choosing a MetaTrader 4 broker such as looking at their regulation, available asset classes, trading fees, and additional services and tools that are available.

We have also made your life a little easier by reviewing the top five MT4 brokers for you to get started with. Libertex has one of the strongest offerings of MetaTrader 4 brokers and you can get started with them at the click of a button!

Libertex - Best MetaTrader 4 Broker

Libertex Logo

Your capital is at risk.

About Michael Graw
About Michael Graw

Michael Graw is a freelance journalist based in Bellingham, Washington. He covers finance, trading, and technology. His work has been published on numerous high-profile websites that cover the intersection of markets, global news, and emerging tech. Michael has also written for TechRadar, Tom’s Guide, StockApps, Buyshares and LearnBonds.

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