The best metatrader 4 brokers are those that offer a full range of trading services, support a wide variety of assets, and have competitive fees and spreads. In this article, we examine which brokers meet these criteria and rank them based on their MT4 platform offering.
Do professional traders use MetaTrader 4?
Developed by Russian software developer, MetaQuotes, the MetaTrader 4 (MT4) trading platform is the preferred choice of tens of millions of traders worldwide. Traders use the MT4 software to connect electronically with their brokers and trade currencies, commodities, equities and cryptocurrencies. In addition, MT4 supports a wide range of technical analysis tools and allows the use of automated trading strategies such as expert advisors (EAs) or trading robots.
While it is possible to trade through the MT4 platform without a broker, it is essential to find one that offers access to the software. Fortunately, nearly all Forex brokers provide MT4 and most offer a free demo account that can be connected to MT4. Demo accounts are loaded with virtual trading funds, allowing new traders to practice their skills without risking real money.
The top ranked MT4 broker in our 2023 ranking is XTB, a UK-based broker that provides a range of tradable assets and a full suite of trading services. XTB has no minimum deposit requirement and is regulated by multiple bodies including the FCA. It also offers a free MT4 demo account and a competitive 0.03% commission rate. IG US, which launched in 2019, is another excellent MT4 broker that offers low trading costs and a high level of transparency. Traders can choose from a number of tradable assets, with leverage limits up to 1:500 depending on their location.