Best Metatrader 4 Brokers

What are the best forex brokers with Metatrader 4 that we recommend in 2024? Today we are publishing our guide to choosing the best forex brokers, a special ranking we have developed, which includes the best CFD brokers for online trading in forex and other financial markets on the MetaTrader 4 platform.

The best forex platforms allow you to register for free, with no fees and no fixed costs. Of course, a forex and CFD platform must always be licensed and regulated and must offer its clients the best trading experience.

Choosing the right forex trading platform is critical: choosing well means ensuring a high probability of making good profits from forex trading. The best brokers have been rigorously tested by mundo-forex.com staff.

How MetaTrader 4 works

This platform features full cycle trading, which includes both back-office components and front-end terminals.

Thanks to these components, MetaTrader 4 does not require any additional software to allow traders to trade.

In the Back office system, where we will have:

• MetaTrader 4 server, or we can define it as the heart of the whole system, where all trading transactions are processed and data is stored.
• MetaTrader4 Manager: Moving down the image, we meet the MetaTrader 4 Manager who processes all the trading transactions and also manages the trading accounts.
• MetaTrader 4 Administrator: at the same time we find the MetaTrader 4 Administrator, which manages :
  1. remote server administration;
  2. set-up of financial instruments;
  3. databases;
  4. etc.
• MetaTrader 4 Data Center: this particular function is represented by a proxyserver; its function is to increase the security of the data in the platform.

The upper part of the image, instead, describes the Front End, where we will have:

• MetaTrader 4 Client Terminal: represents a tool made available to the trader, which allows traders to carry out various operations, including:
  1. technical analysis;
  2. commercial transactions;
  3. working with Expert Advisors (EAs).
• MetaTrader4 mobile terminals: these allow you to manage the trade balance andtechnical analysis both from a PC and from your Smartphone.

To date, MetaTrader 4 is one of the best market platforms.

MetaTrader 4 presents itself as a platform that can offer you everything you need to be a trader.

In particular it offers:

• complete control over your trading;
• immediate execution of transactions;
• the possibility to maintain offset positions;
• state-of-the-art technical tools and analysis charts;
• possibility to execute differentiated orders;
• rapid implementation of information;
• possibility of trading management;
• possibility to customize the demo account.

Advantages of using Metatrader4

The Forex market has now adopted the MetaTrader 4 trading platform as its market standard, and is now used by hundreds of brokers worldwide. And it’s no coincidence. The MT4 platform offers advanced technology and increased security, so traders can open and close Forex positions without having to worry about the stability of their platform.

It also offers over fifty pre-installed forex indicators, nine different timeframes and three different time intervals on the chart. All of these key features provide the trader with the ability to monitor the market accurately, allowing him to enter and exit a position with precise timeframes.

Let us now summarise the main advantages of the Metatrader trading platform.

1. Advantages Metatrader Trading Platform: User Experience

The extremely user-friendly interface allows both novice and experienced traders to trade in this complex and volatile market comfortably and easily. Mobile trading applications also allow you to access your MetaTrader 4 platform wherever you are.

2. Advantages Metatrader Trading Platform: Language

Users from all over the world can benefit from the MT4 platform and all its data in their native language. There is a wide range of languages to choose from. This is why it is a platform widely used in countries such as Australia, South Africa, Saudi Arabia, New Zealand, Singapore, Vietnam, Thailand, Malaysia, Indonesia, Philippines, United Kingdom, Germany, Netherlands, Denmark, United Kingdom, Germany, Abu Dhabi, Dubai and the rest of the United Arab Emirates, Bahrain, Qatar, Brazil, China, India, Japan, Taiwan, Nigeria, Kenya, Senegal,…

3. Advantages Metatrader Trading Platform: Charts

In addition to the advanced and easy-to-use trading capabilities of the MT4 platform, it also offers advanced charting capabilities. This allows traders to trade and analyse all technical aspects of the market simultaneously, change chart colours and styles and even load preset templates that reflect their personal preferences. This makes the charts easier to read and since you can remove features that do not interest you, attention will be focused on your personal priorities.

4. Advantages Metatrader Trading Platform: Expert Advisors

This is a very popular and important feature in the MT4 functionality portfolio. Experienced advisors allow traders to automate their transactions with a custom EA that best suits their needs. The success and popularity of this MetaTrader platform is largely based on their algorithmic trading. For more information see our comparison of best brokers for algorithmic trading.

5. Advantages Metatrader Trading Platform: Communication

The MT4 platform also incorporates advanced communication tools for brokers to send messages and communicate with traders in real time. This obviously prevents the need for lengthy and complicated discussions via email and makes the trader’s experience much simpler. MT5 also allows you to send attachments to emails.

6. Advantages Metatrader Trading Platform: Low Resources

Unlike many other platforms, the MT4 platform is relatively less “energy-intensive”, keeping PC consumption at a low level. This also allows the platform to react more quickly, allowing traders’ requests to be implemented immediately.

7. Advantages Metatrader Trading Platform: Profiles

Users can also view account information from the platform interface. Some available details include account balance, trading history, access details and password information. You can also arrange windows and charts for each profile in a way that is easier to follow.

8. Advantages Metatrader Trading Platform: Security

When dealing with sensitive and private data such as Forex trading, the platform is expected to be able to protect you from potential hacker attacks. MT4 is an extremely secure platform that encrypts data between trader and server with a 129-bit key. The trader’s IP address will also be completely hidden.

9. Advantages Metatrader Trading Platform: Flexibility

The MT4 platform is designed to support all cross currency trading, but also allows you to trade in other markets such as commodities, futures and equities.

10. Advantages Metatrader Trading Platform: Customization

As if that wasn’t enough, the MT4 platform supports full customization capabilities so that traders can adapt them to the platform to suit their trading strategies. This includes the ability to develop their own technical indicators using Metatrader 4’s advanced proprietary programming language, MQL. Remember that code written for MetaTrader 4 is not compatible with MetaTrader 5 (find here our comparison table of brokers with MetaTrader 5 platform) which is an important factor to consider when choosing to switch between platforms. This has become a significant concern for those who have spent time and resources coding custom indicators in MT4.

MetaTrader 4 perspectives

Whenever we talk about Forex trading, we inevitably think of the MetaTrader 4 “frame“.
This is because, although more than 15 years have passed since the first version of this successful electronic “software”, we are still talking about the most widely used existing Forex platforms.

The most recurrent accusations that are made at MT4 by the most aggressive critics is the fact that since 2000 the “software” system has not been updated as frequently as one would have expected.

This is why many of the major international brokers have found space to develop their own trading platforms. Others have chosen to offer other platforms such as TradingView.
As we write, numbers in hand, MT4 remains the most widely used management platform in the world, with several million clients across the globe.

Through the use of metaTrader 4 for your capital investments in online trading you can set different settings, you can use the “hotkeys” mode called “Market Watch” or trade directly from the chart, mode called “Click Trading“. There are different ways of using it to execute a trading operation, in any case you will always have all the data related to your orders, the characteristics and the quantity of those made, you just need to consult the present history. You can trade in three different ways:

• Snapshot;
• On request;
• Market.

You will also be able to exchange these methods with each other, even if you have already made your choice, if you think the right strategy is to enter the market when a certain price level comes up you can ask for it in advance and you will be notified at the right time. If, on the other hand, your strategy is to enter the market regardless of the price trend you can do so by making a simple selection to enter the market, it will be the broker who will open the position at the price that presents itself at that moment.

Immediate orders are like an order placed to your broker and will be executed instantly without having to wait for anything, there will be no downtime. Take a look at this platform, it is offered by all the best brokers online.

Is MetaTrader 4 still the best?

MetaTrader 4 is without a shadow of a doubt a Forex trading platform still efficient and reliable in many ways, technical and practical, by some (few) considered a “museum piece” to be consigned to history, but used by the vast majority of investors.

Experience and reliability, therefore, which are translated into a long series of practical features such as many tutorials, educational teaching materials, real-time advice, signals and technical indications, and so on.

In conclusion, one could speak of an outdated “software“, but still of great stability and performance.

Metatrader 4 is a platform that is used by most traders when they decide to trade within the currency market, developed and launched in 2005 by the Russian “MetaQuotes” is licensed to almost all brokers in the online trading market. To this day it is considered the best platform for all those traders who want to make their investment manoeuvres using the forex market or CFDs. It is also the most efficient and therefore the most widespread platform for the forex market.

Compared to normal online trading platforms, metatrader 4 offers a fully automated trading that makes all investment operations much faster and this results in innumerable advantages, first of all it is the emotional factor that almost always influences the trader’s decisions in a negative way.

So you will have understood that this platform offers automated trading with a speed that in manual trading would be impossible to achieve and this allows many investors to gain time.

In addition to all this, we would like to specify that it is an extremely easy to use trading platform and no special skills are required to use it.

In the comparison table at the beginning you can see what we consider to be the best borkers with MetaTrader 4.

This post is also available in Spanish: brokers con metatrader 4, German: beste metatrader 4 broker