Best MetaTrader 4 (MT4) Forex Brokers for 2024
Amid a crowded marketplace full of companies offering the well-known MetaTrader 4 (MT4) platform, it can be a challenge for traders to identify the Best MT4 Forex Brokers for 2024. Consequently, we have taken the time to go through the top performers, so that traders can cut through the noise and kick-start their trades directly with Top-Rated MT4 Brokers.
As part of our in-depth review into the Best MetaTrader 4 Brokers, we used criteria from our proprietary FX Trust Score Index to analyse the key aspects of each broker’s MT4 platform offering. We also looked into other factors including their regulatory status, fund protection measures, customer support, trading conditions, and online reputation. Take a look at our Winners Leaderboard below to see which Brokers made it into our Top Five.
Best MT4 Broker Leaderboard
Score: 4.5 / 5
Regulated in 9 Jurisdictions One-Click Trading News Streaming on MT4 MT4 Video Tutorials Built-In MT4 & MQL4 Guides
Score: 4.45 / 5
60+ Currency Pairs Raw Spreads from 0.0 Pips Step-By-Step MT4 Tutorials 24/7 Customer Support Exclusive MT4 Tools
*Trading carries a risk of loss
Score: 4.35 / 5
17,000+ Markets Award-Winning Mobile Apps 24/7 Customer Support Advanced MT4 Tools
Score: 4.3 / 5
2,250+ Instruments Spreads from 0.0 Pips 20 Exclusive MT4 Tools 24/7 Customer Support
Score: 4 / 5
2,300+ Instruments Competitive Spreads Advanced MT4 Trading Tools 24/7 Customer Support
*Trading carries a risk of loss
Score Breakdown
See the breakdown showing how the Best MT4 Forex Brokers for 2024 performed across six important criteria in our FX Trust Score Index.
| Regulatory Compliance | Security & Fund Protection | ||
| AvaTrade | 5/5 | AvaTrade | 5/5 |
| IG | 5/5 | IC Markets | 5/5 |
| FP Markets | 3/5 | IG | 5/5 |
| IC Markets | 3/5 | FP Markets | 5/5 |
| Vantage Markets | 3/5 | Vantage Markets | 5/5 |
| Customer Support | Trading Conditions | ||
| FP Markets | 5/5 | FP Markets | 4/5 |
| IC Markets | 5/5 | AvaTrade | 3/5 |
| Vantage Markets | 5/5 | IC Markets | 3/5 |
| AvaTrade | 3/5 | IG | 3/5 |
| IG | 3/5 | Vantage Markets | 3/5 |
| MT4 Trading Tools | Online Reputation | ||
| AvaTrade | 5/5 | AvaTrade | 5/5 |
| IC Markets | 5/5 | FP Markets | 5/5 |
| IG | 5/5 | IC Markets | 5/5 |
| FP Markets | 5/5 | IG | 4/5 |
| Vantage Markets | 5/5 | Vantage Markets | 3/5 |
*Where scores are tied, brokers are listed in alphabetical order.
The FXTS Verdict
Every broker listed above scored well across a variety of categories but Plus500 deservedly tops the pile as the best forex broker for beginners. It consistently ranked highly for its available trading Instruments, user-friendly proprietary platform, and low trading fees. The company is an excellent option for beginner forex traders as it provides an all-encompassing trader academy along with round-the-clock customer support.
As for the other brokers, Exness performed admirably with its commission-free account types and diverse platform suite, while Admirals’ fractional trading feature helped it stand out from the competition. Additionally, Saxo Bank’s unrivalled range of trading instruments scored highly, whereas the analytical and research tools offered by XM were a key USP.
How did we choose the Best MT4 Broker for 2024?
This feature highlights some of the Best MT4 Forex Brokers in 2024, evaluating them based on key criteria such as regulation, fund security, customer support, trading conditions, MT4 features, and online reputation. Each broker was thoroughly assessed and given a score in each category through the FX Trust Score Index, resulting in the final rankings presented above. Our Best MT4 Forex Brokers feature, grounded in considerable research and analysis, was created with the intention of helping traders select a suitable MT4 broker that matches their trading goals.
FAQs
MetaTrader 4 (MT4) is perfect for beginners as it is much more easy and simple to use than the newer release MetaTrader 5 (MT5). In addition to a user-friendly interface, it offers a number of charting tools and features many other trading tools and customisable indicators. The MT4 platform is free to use, however traders are required to fund their accounts before being able to open trades.
No. Traders would need to sign up with a broker and create an MT4 trading account. Once you download the MT4 trading platform from your selected broker, you may then deposit real funds, open trades and withdraw any profits from your broker account.
Finding the best broker to use on MT4 largely depends on the specific needs of each trader. There are many brokers offering an exceptional trading experience via the MT4 platform, with impressive MT4 toolkits, fully-integrated copy trading features, and a wide range of trading instruments across multiple asset classes. Check out the guide above to see some of the best performing brokers that currently offer access to the MT4 trading platform.
Generally speaking, the best MT4 platforms tend to feature a reliable, user-friendly interface, featuring swift order execution and wide-ranging analytical tools, including a wide array of technical indicators and charting options. Other important elements to look out for include automated trading support via Expert Advisors (EAs), responsive customer support, and the number of security measures in place. Traders should also keep note of the customisation features offered, so they can properly tailor the platform to suit their own trading needs
Before choosing to open an account with a broker that offers MetaTrader 4 (MT4), there are a whole range of factors to consider before making a final decision. Particular attention should be paid towards the broker’s regulatory status, including any previous sanctions imposed on them for impropriety. Additionally, check for other features, such as the trading conditions provided, account types, funding options, MT4 trading tools, customer support, and the available customer service hours.
Yes, a broker is required in order to trade the markets using the MT4 platform. This is because the broker provides access to the financial markets, facilitates trade execution, and presents the necessary server infrastructure for the MT4 platform to properly function. Discover a selection of the world’s top-rated MT4 brokers via the insightful guide we created above.
Yes, people still use MT4, despite a number of newer platforms being introduced, like MetaTrader 5 (MT5) and cTrader. One of the main reasons behind its enduring popularity is its longstanding reputation as a trusted platform, which it has built up over the years – since its initial launch in 2005. It has a broad appeal among traders of all backgrounds and experience levels, owing to its extensive library of third-party plugins and customisations. Overall, MT4’s stability and consistent performance over the years have served to cement its status as the go-to choice for many in the trading world.
