MetaTrader 4 is commercial software popular among private entrepreneurs. Although MT4 has been on the market since 2005, today it is the commercial platform that commercial enterprises most use. MetaTrader 4 offers traders all the features and functionality needed for trading. But does this platform work the same for each broker? How to identify the best MT4 brokers? You will find answers to these and other questions below.
MetaTrader4 Brokers Overview
Every MetaTrader 4 account comes with distinct characteristics and functionalities engineered to meet various levels of trade. Traders decide on MT4 brokers depending on the exact trading conditions they want which may include lower spreads, faster order execution times, or other tools.
Forextime
FXTM provides a strong MT4 trading platform. It comes with a good number of tools and features. These include Expert Advisors for automated trading, various chart timeframes, as well as over 30 technical indicators. In terms of account types, the broker supports different types of accounts such as Micro, Advantage, and Advantage Plus. This makes it suitable for both newbies in trading as well as those who have been doing this for some time. Known for its fast trade execution, FXTM provides competitive spreads with instant and market execution for the account types available on its platform. For additional assistance, there are tools such as trademarks and an always-on virtual private server for those who do not want their activities to be interrupted by annoying issues such as connectivity issues or power failures. FXTM is one of the best MT4 crypto brokers and offers a wide range of educational materials, as well as customer support services (24×5), which are aimed at making traders more aware of various trading methods, including price action trading methods, where traders trade without referring to indicators and price patterns or chart configurations, thus relying only on price levels such as support and resistance levels.
Icmarkets
MT4 on the Icmarkets platform is equipped with sophisticated charting tools, and a variety of technical indicators and can perform automatic transactions through expert advisors. The ECN accounts provided by this broker are Raw Spread, Standard and others with a minimum spread of 0.0 pips. MT4 ECN brokers tend to execute orders faster than others, as their average speed is less than 40ms without any intervention from the dealing desk. Other tools such as VPS, Autochartist and trading signals are among the additional tools available to traders. There is a wide range of training materials such as webinars and video tutorials, as well as 24/7 customer support in multiple languages.
Tmgm
The MT4 platform on TMGM includes advanced charting tools, multiple order types and the ability to use expert advisors for automated trading. Edge, Classic and Stocks accounts have different trading conditions and spread types. Additional tools include VPS hosting, MAM/PAMM accounts, various indicators, and MT4 plugins for brokers.
Justmarkets
JustMarkets is one of the best brokers for MT4 that allows you to set your charts and select multiple time frames. You can also use automated trading by simply downloading Expert Advisors (EA). These advisors are installed in a specific folder in the platform’s main program files, so they will always work. JustMarkets has a wide range of account types, ranging from Cent accounts designed for beginners and professional traders. Each account type matches traders’ experience level or trading needs. Market execution is used by JustMarkets because it makes better use of spreads and executes trades faster than the instant execution method, which requires manual order confirmation each time a trade is placed by simply clicking the “buy” or “sell” button associated with the currency pairs in the trading terminal. The broker provides VPS, trading signals and several analysis tools to improve the quality of trading; as well as well-designed educational materials including articles, tutorials, webinars, and 24/7 customer support.
MetaTrader 4 Security
MetaTrader 4 offers an easy-to-use interface, many technical indicators and a wide selection of charting tools. It is also compatible with a wide range of MT4 Forex brokers. MetaTrader 4 was designed specifically for Forex trading and is very easy to use. The platform is very intuitive and offers a large number of features and tools. MT4 is also very secure and reliable. The platform has a reliable data protection system and a wide range of security tools.
Factors when choosing a MetaTrader 4 broker
Some important and useful things should be kept in mind when selecting MT4 brokers if you want your trading experience and success to be greater.
- Regulation
Confirm whether the MT4 broker is regulated by an established financial authority (eg FCA, ASIC, SEC or CySEC). If a broker is regulated, then the expectations for strict standards are high, so this is important as some safeguards are needed when dealing with money. Find out what the trading community thinks about this particular broker. Read customers’ comments on various platforms, including forums, websites, and expert reviews to know whether people trust them or not.
- Trading Conditions
Research brokerage pricing differences, including commissions, or simply pay attention to the extent of spreads they have. Therefore, you should know that the lower the cost, the better it is for you. Research the difference in leverage between different MT4 forex brokers. Using higher leverage means you have the opportunity to make more profits while increasing your chances of losing them. You should also choose a broker that will allow you to use that kind of margin on your orders (depending on your style) without being particularly jeopardized by the risks associated with taking such steps against your own money account issues.
- Account types and minimum deposit
Various kinds of accounts are offered by different forex brokers MT4. (For example, Standard, Mini, Micro.) Select a broker with an account type that fits into how you trade as well as the amount of money available. Look at the smallest sum needed to begin a deposit account; some brokers for MT4 provide accounts having very low minimum deposits which makes it easier for newbies to get started in trading.
- Technical tools and educational resources
Make sure the broker offers a variety of analytical tools and indicators that work well with MT4. Trading decisions can be improved with the help of advanced charting tools. Especially if you’re just starting out, look for MT4 brokers that can provide you with materials to help you learn, such as articles, tutorials and webinars. It is impossible to succeed without constantly learning about the trading business.
- MT4 Customization
Check whether the MT4 trading software of the broker can be modified following how you prefer to trade, such as utilizing your own indicators or EAs (Expert Advisors).
- Withdrawal and deposit methods
Look at the withdrawal and deposit methods on the broker’s website. Multiple options (e.g. bank transfer, debit/credit cards, e-wallets) make it easy to choose the one that suits you best. Consider the time it takes to process deposits and withdrawals from your account. Fast and free transactions will help you better manage your trading funds. You should also be aware of deposit and withdrawal fees. In the long term, some MT4 brokers charge fees for these transactions, and these can become significant over time.
Pros and Cons of MetaTrader 4
MetaTrader 4 provides the ability to use advanced tools for fast, safe and reliable trading. In addition to being a user-friendly and easy-to-use platform, it offers a range of benefits that cover the most common needs of merchant operators through a variety of tools and resources. However, to know if it is ideal for your trading operations, you also need to know what its weaknesses are.
| Pros | Cons |
| MT4 has a user-friendly interface and it is fully customizable and offers newbies dashboards they can use to identify patterns in the market, as well as a wide range of information to make strategy easier.This platform is very easy to install and can be downloaded on computers with Windows and Mac operating systems, as well as on mobile devices with Android and iOS operating systems. With its automated trading feature, MT4 allows traders to customize their trading methods and improve efficiency.The MT4 platform is fully multilingual, allowing traders from all over the world to trade in their own language. This software is available in more than 30 languages, making it the platform of choice for millions of traders around the world.MT4 allows users to view multiple charts simultaneously and analyze market data efficiently. It allows you to open a demo account through which traders can practice and trade without risking their money. The demo account has no time limit and can be used to familiarize yourself with the platform and the functioning of the market.Expert Advisors are an exclusive feature of the MT4 platform. The ability to use these bots allows the trader to set up unique automated operations, tailored to his preferences and criteria. | Installing software, especially for Mac users, can be a bit tedious as additional source codes need to be downloaded to ensure the software runs smoothly. However, the best MT4 download platforms offer detailed guides for Mac and Windows users.Programming indicators and advisors are only possible in the MQL language, so you must first learn the basics of this only programming language available in the MT4 interface. |
FAQ
Yes, you can trade on MT4 mobile app using IOS and Android devices. Once you’re signed up and ready to get started, you’ll have access to charting data and analysis, real-time quotes, and more.
MetaTrader 4 is undoubtedly the best choice for both professional traders and beginners. Its user-friendly design is suitable for beginners, and its advanced features will satisfy the needs of professional traders.
It provides many tools, including Forex, Indices, Cryptocurrencies and more.
