Best MetaTrader 4 Brokers 2020

Whenever it comes to trade in the forex market, you always need a broker with an excellent trading platform.
Some brokers have different types of trading platform but most of the regulated and best brokers are MetaTrader 4 brokers. They use MetaTrader 4 for as their trading platform.

best metatrader 4 brokers

What is MetaTrader 4?

MetaTrader 4 generally known as MT4 in the market is an electric trading platform used by online retail forex traders. It is licensed for the brokers that provide software to their customers.

Additional Facts about MT4

It was introduced to the market in 2005 by Meta Quotes.
Later MT4 was advanced to MT5. But still there are many MetaTrader 4 brokers. It is one of the most widely used software all over the world.
It is free. You can download it from your system or mobile phone and can create a free demo account which might help you a lot in your future tradings.

Meta trader 4 has advantages to use. However,

There are some disadvantages to use them also.

Have a look at its pros and cons.

  • You can use MT4 wherever you want. It is available and can work on laptops and PC. Smartphone users, android users, and IOS and iPod users can also run it easily. By the addition of some other software, Linus and Mac users can also take advantage of it.
  • MetaTrader 4  provides many languages in it so anyone can use it according to its language.
  • This trading platform is easy to use and user-friendly
  • It has a proper indicator set.
  • Most of the brokers allow the use of Metatrader 4 to their clients because it is easy to use and working consistently for many years.
  • The technical analysis charting capabilities of MT4 are excellent.
  • It secures your very important data. It does not share your data with any other server. So, it has a secure encryption tool.
  • MT4 provides you the facility of
  • Creating a hedge
  • Scalping
  • And short term strategies
  • You can examine your strategies by backtesting with historical data. With this feature you can find how profitable your plan is.
  • MetaTrader 4 has a very prominent drawback. There is a visible difference in the pip actual price than the price shown on the MetaTrader 4 software. It might be intentional or unintentional but due to the usage ratio of this software this point is ignored. Many MetaTrader 4 brokers are unaware of it also.
  • It has a different language of programming than MT5. So you cannot move your existing account of MT4 to MT5 even though both of them were made by the same house.
  • The feature of backtesting does not access high-quality historical data.
  • It immediately implements your order when you set them without asking you to set it again.
  • It is not as flexible as other software in the market.
  • It is not up to date according to the news events.
  • It is not suitable for high-frequency trading.
  • Meta Quotes is not providing licenses of MetaTrader 4 to the forex brokers anymore.

Is Meta Trader only for Forex?

No, Meta Trader 4 is not only for the Forex market. But it is used mostly for the forex trading. It is also used for trading in indices, commodities, futures, energies, and metals.

What to trade with MT4?

Currency pairs

The Forex brokers generally have the seven currency pairs. The Majors, the minors, and exotic pairs are one of the most heavily traded pairs.

Stock Incides

UK’s FTSE100, France’s CAC 40, or Germany’s DAX 30 and other stock incides can also be traded on it.


Buying or selling of shares like Microsoft is also done by MetaTrader4.


They include

Metals – Gold, Silver, Platinum
WTI and Brent crude oil- natural gas, heating oil and gasoline
Agricultural products like corn, sugar, cotton, and wheat are mostly traded.


Cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, and EOS can also be executed on MT4.

Choosing a MetaTrader 4 Broker

There are some useful tips to find a good MetaTrader 4 broker.

Check out the reputation of the Broker.
MT4 Broker must be regulated.
Compare the set of spread rates, minimum deposit, fee, and commission.
Most important is to check out the currency pairs and products in which you are willing to trade. Some brokers have only a very limited set of products to trade.
Also took notice of minimum withdrawal and withdrawal methods. Because nowadays some brokers are giving returns in Bitcoin cash instead of real Cash.  

Features of MetaTrader

Expert Advisor

An EA is an Expert Advisor in Forex, which is a trading robot. It is used for automated trading. According to their terms and conditions, EAs start their trading and take action.

Some people ask about EAs working. It works. Nowadays, the majority of the MetaTrader 4 brokers work by EAs because it is professional and helpful.

How to add it EA?

Launch the application of MetaTrader
On the left side of the platform, below the Navigator pane you will see the section for the Expert Advisors.
There is also a short cut key of F4 to open the window that contains a list of Expert Advisors.
Click on the Plus sign and the available EAs should be listed there.
If you want to install it then click on the EA section.
Now, finally after installing take it to any of your charts.

MT4’s official website has almost 1,700 trading robots & 2,100 technical indicators in their community market place. You can buy an Expert advisor or might lend it for rent. EA is free of cost. However, the price of some EAs costs thousands of U.S. dollars.

Charting in MetaTrader 4

MT4’s charting has three mostly used  ways to show the exchange rate and

  • Bar charts
  • Candlestick charts
  • Line charts

Candlestick and bar charts are used to show the opening and closing price of the product as well as their high and low rates. Charting is the most essential and important feature of trading. MetaTrader4 brokers seek assistance from charting.

Backtesting or Strategy testing

This feature helps to test the credibility of your plan by helping you with the historical data and trades of the same plan and their results. This feature is not so easy to use. However, some of the most expert MetaTrader 4 brokers know how to properly use it and they might succeed in it after educating their selves about this feature.

How to use it?

Click (Ctrl+R) on your keyboard.
It requires historical data, which can be viewed using MT4’s History Centre.

Trading Signals

MT4 has Trading Signals, which allows you to copy the trades of another trader automatically in real-time. It is normally free. But sometimes you are charged for it.


Scalping is to buy or sell a currency pair and then hold it for a short time to make a profit. Due to the one-click feature, MetaTrader 4 brokers find it easy to implement this technique.


Taking a position in the futures market that is opposite to the one in the physical market to reduce or limit risks associated with price changes is hedging.

Best MetaTrader 4 Brokers In the world

Some of the famous MetaTrader 4 brokers are listed below. Have a look on them

AVA Trade:

This Irish company has been working since 2006.
Min. Deposit: $100
Max. Leverage: 1:400
Min. Leverage: 1:30
Trading Platforms: MT4, MetaTrader 5, Webtrade
Asset: CFD, Forex, Crypto, Stocks, Options

CMC Markets

This old company was born in 1989 
Min. Deposit: $100
Max. Leverage: 1:500
Min. Leverage: 1:30
Trading Platforms: MT4, MetaTrader 5, Web trader
Asset: CFDs, Spread betting, Forex, Cryptos, Commodities, Stocks, Treasuries, Custom indices


FXTM has a high ranking in the list of top 10 forex brokers. The company “Forex time” was founded in the year of 2011.
Min. Deposit: $10
Max. Leverage: 1:200
Min. Leverage: 1:25
Trading Platforms: MetaTrader 4, Desktop Trading platform
Assets: CFDs, Commodities, Cryptos, Forex, and Stocks


This broker has been working since 2009. Due to its outclasses services in the past years, this broker successfully entered in the listing of the top 10 ten forex brokers.
Min. Deposit: $5
Max. Leverage: 1:888
Min. Leverage: 1:1
Trading Platforms: MetaTrader 4,Web Trading platform
Assets: CFDs, forex, cryptos and stocks

FX Pro:

This broker is quite old. It is operational since 2006. The reason for its placement in the top ten brokers is the result of the uncomparable services for the professional forex traders.
Min. Deposit: $100
Max. Leverage: 1:500
Min. Leverage: 1:2
Trading Platforms: MetaTrader 4
Assets: CFD,Cryptos,Futures,Indices,Shares, and Forex


This broker is quite old. It is operational since 2006. The reason for its placement in the top ten brokers is the result of the uncomparable services for the professional forex traders.
Min. Deposit: $0
Max. Leverage: 1:50
Min. Leverage: Less than 1:50 (vary from asset to asset)
Trading Platforms: MetaTrader 4, Progressive Web App, L2 Dealer
Assets: CFD, Forex, Crypto, Stocks, Digital Options, Futures, and Options


This Australian broker is operational since 2007. But it was placed in the top forex brokers since the recent years.
Min. Deposit: $0
Max. Leverage: 1:400 (avearegly)
Min. Leverage: 1:2 (cryptos), 1;50
Trading Platforms: MetaTrader 4, MetaTrader 5, and MT4 Next Gen( For prfessionals)
Assets: CFDs, Forex, and Cryptos 

Plus 500

The foundation year Plus 500 is 2008.   
Min. Deposit: $100
Max. Leverage: 1: 300
Min. Leverage: 1:2 (cryptos), 1:10
Trading Platforms: PLUS 500 Trading platform.
Assets: CFD, Cryptos, Forex, Stocks, and Options


FXCM is also one of the top ten forex brokers. The foundation year of FXCM is 1991. It is a competent broker with excellent track history.  
Min. Deposit: $360 for Europeans, $50 for non-Europeans
Max. Leverage: 1: 30
Min. Leverage: 1:2
Trading Platforms: MetaTrader 4, Ninja Trader, Zulutrade, Trading Station
Assets: CFD, Cryptos, and Forex.


The foundation year of this company is 2008.
Min. Deposit: $1
Max. Leverage: 1: 2000
Min. Leverage: 1:30
Trading Platforms: MetaTrader4 and MetaTrader5
Assets:Forex, CFDs, Stocks, Indices, Metals, Energies.

Best Meta Trader 4 Brokers in the USA?

Forex trading is much more advanced and popular among the natives of the USA. People invest their money periodically in some businesses.
Want to look some of the best MetaTrader 4 brokers in the United States of America. Here are the few of them that are the most popular.

The following of the MetaTrader 4 brokers are the best

Admiral Markets
Best overall for MetaTrader.

It has excellent pricing and customer service.

Full MetaTrader suite, expensive pricing.

Full MetaTrader suite, pricing varies.

Our website provides complete information about the finest brokers of the world working as a forex broker.

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