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AuthorBy Jeffrey Cammack
Updated: May 7, 2021

Metatrader 4 (MT4) is the most commonly used Forex trading platform and is supported by the vast majority of brokers. While there is now a newer version, MT5, MT4 is still widely recognised for its trade execution speeds, charting tools, customizability and overall brilliance. 

To test these brokers, we downloaded and connected the platform with our trading accounts. Setting up MT4 can be a challenge, so we engaged with customer service to create a customised dashboard featuring indicators and advanced charts and started trading to test execution speeds and slippage. Where possible, we downloaded EAs from the broker to test the social trading functionality of the platform and broker combination.  These are the best MT4 brokers in Australia for 2021, according to our testing and our research.

English

Best MT4 Forex brokers for 2021

Last updated on 7 May 2021
Updated 7 May 2021
by Editorial Director Jeffrey Cammackby Jeffrey Cammack
Jeffrey Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
FP Markets
Min. Deposit
AUD 100
4.234.23
Min. Spread
0 pips
Trading Platforms
Fx Pairs
60+
Overall Rating
11110.54.23/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.
2
Black Bull Markets
Min. Deposit
USD 200
3.423.42
Min. Spread
0.20 pips
Trading Platforms
Fx Pairs
31
Overall Rating
1110.503.42/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Blackbull Markets is regulated by the FMA & the FSA-Seychelles.
3
Pepperstone
Min. Deposit
AUD 100
4.614.61
Min. Spread
0 pips
Trading Platforms
Fx Pairs
80+
Overall Rating
11110.54.61/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA.
4
IG Markets
Min. Deposit
AUD 250
4.694.69
Min. Spread
0.60 pips
Trading Platforms
Fx Pairs
93
Overall Rating
11110.54.69/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, ProRealTime and L2 Dealer platforms supported. IG Markets Group is regulated by FCA, ASIC, and the FSCA.
5
AvaTrade
Min. Deposit
AUD 100
4.484.48
Min. Spread
0.90 pips
Trading Platforms
Fx Pairs
50+
Overall Rating
11110.54.48/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.90 pips. Minimum initial deposit 100 AUD. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.
6
XM
Min. Deposit
AUD 5
4.384.38
Min. Spread
1 pips
Trading Platforms
Fx Pairs
57
Overall Rating
11110.54.38/ 5
AlertLeverage limitations apply to all the EU regulated entities of the group.
7
IC Markets
Min. Deposit
AUD 200
4.464.46
Min. Spread
0.10 pips
Trading Platforms
Fx Pairs
60
Overall Rating
11110.54.46/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.
8
Axitrader
Min. Deposit
AUD 5
4.344.34
Min. Spread
0 pips
Trading Platforms
Fx Pairs
80+
Overall Rating
11110.54.34/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 1.20 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. Axi Group is regulated by the FCA, ASIC and the DFSA
9
CMC Markets
Min. Deposit
AUD 5
4.694.69
Min. Spread
0.70 pips
Trading Platforms
Fx Pairs
330
Overall Rating
11110.54.69/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & CMC Proprietary platforms supported. CMC Markets is regulated by the ASIC, FCA, MAS and the FMA.
10
Tickmill
Min. Deposit
AUD 100
4.124.12
Min. Spread
0 pips
Trading Platforms
Fx Pairs
60+
Overall Rating
11110.54.12/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.20 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 platform support. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.

How to compare MT4 Brokers

When setting up a trading account, it is common for a broker to support various trading platforms. As you compare brokers, it is important to pay special attention to factors that set these MT4 accounts apart from the accounts offered connected with other trading platforms. To compare MT4 Forex brokers, we need to consider the following:

MT4 account types: While a broker will support MT4, brokers often have multiple account types, and it could be that not all account types will allow you to trade using the MT4 platform. If you intend to use MT4, verify the account that best suits you also supports MT4. 

MT4 trade execution and conditions: Be sure to check the trading conditions of your MT4 account. The trade execution method, speed of execution, and the trading costs of your trade can all be impacted by the platform and account combination. As you choose your MT4 account, be sure to verify the conditions against what was advertised.

MT4 tools and plugins: The occasional broker offers plugins and tools for the platform. Axi offers Psyquation and Autochartist to clients for free, while Admirals, through cooperation with MetaQuotes, built MT4 Supreme Edition. These additions to the platform change the trading experience and add additional benefits to the trading platform.

MT4 support: Setting up a trading platform like MT4 can take time to install and customize. Select brokers will offer their assistance, which can be helpful for beginners. Be aware that some brokers have limited customer service hours, especially on weekends, so finding a broker whose customer service hours suit you. 


🏆FP Markets – Best MT4 Broker in Australia

FP Markets is an Australian broker with ASIC regulation with the trading conditions derived from an ECN pricing model to make it the best MT4 provider in Australia. With a minimum deposit of 100 AUD, Australian traders get access to spreads as low as 0.0 pips on the EUR/USD and trading execution speeds under 40 milliseconds.

As well as offering full a feature-rich MT4 experience, including advanced charting tools, numerous technical indicators, real-time price charts, market news and insights, and a suite of automated trading options, FP Markets also offers raw pricing with no price manipulation, no dealing desk and no requotes. 

The FP Markets MT4 Traders Toolbox is a suite of 12 online trading tools that combine MT4’s robust trading infrastructure with valuable market insights and trade assistance applications. Gain access to real-time price activity and trend direction with the Correlations Trader or use the Correlation Matrix, which provides a great overview of all the different currency pairs and how they are correlated. Tick charts, session maps, and trade assistance tools such as the Trade Terminal help identify market volatility and leverage it through day trading. The Excel RTD is the ultimate reporting tool as it inserts real-time data into Excel, which traders can then use to send trading commands to the trading platform.

Pros
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
Cons
  • Expensive withdrawals
AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.

🏆BlackBull Markets – Best MT4 Trading Conditions

For Australian traders looking for a professional-grade ECN/STP broker with support for MT4, BlackBull Markets ticks many boxes. Equinix servers ensure fast market execution and reduce slippage, and its singular focus on the MT4 platform ensures the best trading conditions for experienced and pro traders.

BlackBull Markets offers three account types, the ECN Standard, ECN Prime and ECN Institutional, where the maximum leverage on all accounts is 1:30. The ECN Standard Account has a minimum deposit of 200 USD and no commission, with a minimum spread of 0.8 pips. However, the ECN Prime Account has a minimum deposit of 2000 USD, spreads start at 0.1 pips, and the commission of 3 USD on the Prime Account is one of the lowest available.

Pros
  • Tight spreads
  • Good for beginners
  • Wide range of assets
Cons
  • Expensive withdrawals
  • Limited market analysis
AlertAccepts Australian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Blackbull Markets is regulated by the FMA & the FSA-Seychelles.

🏆Pepperstone – Best MT4 Broker with ECN Execution

A world-renowned Australian broker, Pepperstone offers MT4 support, ASIC regulation and two simple accounts with ECN execution. Most orders are executed in less than 30 milliseconds, ideal for scalpers and clients who run MT4’s expert advisors. The Standard MT4 Account is commission-free, and the average spread on the EUR/USD is 1.09 pips. The Razor MT4 Account charges a 7 USD round turn commission, but the average spread on the EUR/USD is 0.09 pips – about as close as traders can get to zero spread as possible.

The Pepperstone MT4 trading experience comes with live quotes, real-time charts, in-depth news, and analytics. Pepperstone also offers a package of Smart Trader Tools for MT4, a suite of 28 expert advisors and indicators to improve trade execution and management. Also, all MT4 users will get access to Autochartist – a powerful pattern recognition plugin that automatically identifies trading opportunities based on price trends.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
    AlertAccepts Australian Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA.

    🏆IG Markets – Best Regulated MT4 Broker

    IG Markets is possibly the best regulated and most trusted MT4 broker in the world. Regulated by ten national authorities, including the FSCA, FCA, ASIC, MAS, and FINMA, IG Markets is also publicly traded on the London Stock Exchange and has a full banking license. IG Markets offers tight spreads, full MT4 support, and excellent education and market analysis.

    IG Market’s version of MT4 takes the platform to another level with its package of free add-ons and indicators. Highlights include a Trade Terminal, Stealth Orders, a Correlation Matrix as well as a dozen indicators. Also, all IG clients get access to Autochartist for free. This powerful automated technical analysis tool scans the markets for opportunities that you may have missed. All these features are available with tight spreads, with the EUR/USD averaging 0.86 pips but sometimes as low as 0.6 pips, and commission-free trading.

    Pros
    • Well regulated
    • Tight spreads
    • Great platform choice
    • Excellent education
    • Excellent market analysis
    Cons
    • High minimum deposit
    AlertAccepts Australian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, ProRealTime and L2 Dealer platforms supported. IG Markets Group is regulated by FCA, ASIC, and the FSCA.

    🏆AvaTrade – Best Commission-Free MT4 Account

    AvaTrade is a globally renowned market maker with the best commission-free trading conditions available on the MT4 platform. AvaTrade MT4 offers low spreads across Forex, commodities, and a range of other CFDs. Max leverage is 1:30, and spreads are very tight for a 100 USD minimum deposit and no commission – as low as 0.7 pips on the EUR/USD.

    AvaTrade supports all native features of MT4, such as nine timeframes, EA functionality and 30 built-in indicators. AvaTrade also has the Guardian Angel system. This personalised trading feedback tool helps traders refine their decision-making and includes support for automated trading platforms like ZuluTrade and DupliTrade and free Trading Central for all MT4 clients.

    Pros
    • Good for beginners
    • Well regulated
    • Low minimum deposit
    Cons
    • Dealing desk
    • Limited market analysis
    AlertAccepts Australian Clients. Average spread EUR/USD 0.90 pips. Minimum initial deposit 100 AUD. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

    🏆XM – Best MT4 Education

    An FCA regulated market-maker with tight spreads over three simple account types, XM stands out from a crowded field of MT4 brokers for its educational support and customer service. XM’s MT4 video tutorials guide new traders through all the important features of XM’s MT4 platform. Tutorials cover everything from opening a trading account to understanding pending orders and backtesting Expert Advisors.

    All MT4 accounts have a max leverage 1:30, negative balance protection, and minimum deposits start from 5 GBP. XM MT4 spreads are as low as 0.6 pips, and 99.35% of all trades are executed in less than 1 second. XM also has a strict no-requotes/rejection policy, which means that all trades are always filled at the price expected. MT4 users will be able to trade Forex, stock indices, precious metals, and energies.

    Pros
    • Well regulated
    • Excellent education
    • Wide range of assets
    • Fast and free withdrawals
    Cons
    • Dealing desk
    AlertLeverage limitations apply to all the EU regulated entities of the group.

    🏆IC Markets – Best MT4 for Beginners

    IC Markets is rare amongst ECN MT4 brokers, as it provides a welcoming environment for beginner traders. IC Markets offers an archive of structured course material, detailed independent market analysis, and expert-led webinars. IC Markets also provides excellent 24/7 technical support for the MT4 platform and more general queries.

    IC Markets offers two Raw Spread Accounts and a Standard Account, all with variable spreads, on the MT4 platform. The Raw Spread Accounts charge a small commission of 3.50 USD, but spreads are often down to 0 pips, averaging 0.1 pips on the EUR/USD pair. The Standard Account charges no commission but spreads start at 1 pip. IC Markets pricing relies on 25 different liquidity providers ensuring deep liquidity and the lowest spreads in the industry.

    Pros
    • Well regulated
    • Tight spreads
    • Wide range of assets
    • Great platform choice
    Cons
    • High minimum deposit
    • Limited market analysis
    AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.

    🏆Axi – Best MT4 Customisation

    Built by traders, for traders, Axi is an Australian ASIC and FCA regulated ECN broker with full MT4 support, great trading tools, and excellent customisation options. By only supporting the MT4 platform, Axi offers the most customisable MT4 experience in the world. Axi offers a range of tools for MT4, but one of the highlights is its MT4 NexGen plugin. 

    MT4 NexGen offers a sentiment indicator, a correlation trader, a more intuitive terminal window, and an automated trade journal. Apart from MT4 NexGen, traders at Axi have access to a range of tools. These include AutoChartist, the powerful automated technical analysis tool, and PsyQuation, an AI diagnostic that tracks your trading style and coaches you into more profitable trades. VPS hosting is also available, along with various trading algorithms to install on your MT4.

    Pros
    • Low minimum deposit
    • Wide range of assets
    • Well regulated
    • Tight spreads
    Cons
    • Poor customer service
    • Limited demo account
    AlertAccepts Australian Clients. Average spread EUR/USD 1.20 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. Axi Group is regulated by the FCA, ASIC and the DFSA

    🏆CMC Markets – MT4 Broker with the Most FX Pairs

    CMC Markets is a British market maker broker with ASIC regulation, a low minimum deposit, and great trading conditions on the MT4 platform. The single trading account has a 5 AUD minimum deposit. It offers commission-free trading on 330 Forex pairs, one of the industry’s largest sets, and a huge range of indices, commodities, shares, treasuries, and cryptocurrencies. The single commission-free account offers minimum spreads of 0.7 pips on the AUD/USD and EUR/USD and low commissions on over 9000 shares and ETFs.

    With CMC Markets, MT4 traders not only have access to features such as automated trading, customisable charts, and sentiment trader but can also further customise their platform with a range of tools. Autochartist, a free VPS service and the FX Blue plugin are all available to further enhance the MT4 experience.

    Pros
    • Well regulated
    • Tight spreads
    • Good for beginners
    • Excellent education
    • Excellent market analysis
    Cons
    • No swap-free account option
    AlertAccepts Australian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & CMC Proprietary platforms supported. CMC Markets is regulated by the ASIC, FCA, MAS and the FMA.

    🏆Tickmill – MT4 Broker with Lowest ECN Commission

    An MT4-only broker and a regular winner of trading conditions awards, Tickmill offers tight spreads and commission on both ECN and traditional accounts, both of which offer copy trading. While Tickmill does not offer traders huge complexity, it does many of the basics with excellence, charging a low 4 USD per lot commission on its Pro Account.

    MT4 is the only platform supported at Tickmill, which offers STP market executed trades in 0.1 seconds on 62 currency pairs and CFDs on stock indices, metals, and bonds, without any dealing desk interference. While a Classic Account is available with no commission charged, the tight spreads and low commission on the ECN account are industry-leading, making it hard to find a lower commission MT4 broker with ECN execution.

    Pros
    • Tight spreads
    • Well regulated
    • Fast and free withdrawals
    • Wide range of assets
    Cons
    • MT4 only
    AlertAccepts Australian Clients. Average spread EUR/USD 0.20 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 platform support. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.

    What is MetaTrader 4 (MT4)?

    mt4 new

    MT4 is the most popular Forex trading platform in the world and has been for the last fifteen years. The launch of MT4 in 2005 changed the retail Forex industry almost overnight. It offered retail Forex traders an institutional-grade tool: Anyone with an internet connection was now on equal footing with professional Forex traders. 15 years later, MT4 is still the industry standard for several reasons:

    1. MT4 is the lowest-latency and a highly customisable trading platform, complete with a cutting-edge charting suite offering market charts overlaid with indicators from MT4’s library. 
    2. MT4 allows users to build or buy expert advisors (EAs), indicators, and other algorithmic trading tools using MQL4. 
    3. MT4’s algorithms and customisable charts allow retail traders to analyse market movements with precision and speed. Trades can then be made in an instant due to the platform’s execution speed.
    4. MT4 is available on mobile, tablet, in a web browser and as a downloadable application.

    This versatility makes MT4 the world’s leading trading platform.

    MT4 Pros and Cons

    Before you decide on whether to use an MT4 broker we need to look at the advantages and disadvantages of the MT4 platform.

    Pros

    • Customisable layout provides a stable and personalised trading experience.
    • Advanced charting allows traders to combine technical analysis and trade management from within the chart view.
    • One-click trading. In fast-moving markets, traders can execute trading decisions quickly.
    • The lowest-latency platform available. Trade execution speeds will also depend on internet connection speed.
    • Built-in scripting tools allow users to build or buy expert advisors (EAs), indicators and other algorithmic trading tools.
    • Over 2000 free indicators available in the MetaTrader Code Hub.
    • Traders can move between brokers without losing any customised changes to the platform. MT4 can also support multiple brokers and multiple accounts from the same broker.
    • Social trading integration, available with a free subscription. Trading signals let you to automatically copy the trades of other traders.
    • High secure. all information between client and server is 128-bit encrypted, and it also supports RSA Digital Signatures.
    • Widespread Use. Most brokers will offer it, and it is well supported. If you have a question, someone will have answered it – if you have a problem, someone will have solved it.
    • MT4 runs smoothly on all modern computers and is happy even on old systems.

     Cons

    • It is old. It looks like a program from 2005. If you want a trading platform that looks nice this is not your platform
    • It lacks native integration of news and economic data, though this can be added via plugins.  
    • While MT4 can run on Macs with a few tweaks, it will only run on Mac OS versions prior to Catalina (version 10.15, released in 2019).

    MAC OS Catalina only supports 64bit applications and as MT4 is a 32bit application, it is not compatible. For earlier versions of Mac OS, the safest way of getting MT4 to run is to install a Windows emulator called Wine (a tool for Unix-based systems to run an application developed for Windows) along with fonts and the graphical interface. Wine is a great tool, but not necessarily the most stable and your experience can suffer as a result.

    MT4 Broker Guide

    If you are sure you want to use MT4, you need to find a broker. There are many ways to compare brokers, depending on what is important to you as a trader. These are a selection of brokers broken down by trading costs, customer support, and education material, including features relevant to each area.

    ASIC MT4 brokers with the best trading conditions

    Each broker will have different trading conditions. Trading conditions include the assets available to trade, if negative balance protection is available, and the total cost of trading. The cost of trading is the sum of the cost of the spread and the commission. These are the top 5 ASIC-regulated MT4 brokers with the best trading conditions.

    Scroll for more detailsPreviousNext
    Overall Rating
    Regulators
    Min. Deposit
    Cost of Trading
    Trading Commission
    No. of FX Pairs
    Compare
    Official Site
    4.69 /5
    Read Review
    AUD 5
    USD 7
    Fees Included in Spread
    330
    Visit Broker >
    Your capital is at risk
    4.61 /5
    Read Review
    AUD 100
    USD 7.90
    From 7 USD / lot - Razor Account
    80+
    Visit Broker >
    Your capital is at risk
    4.48 /5
    Read Review
    AUD 100
    USD 9
    Fees Included in Spread
    50+
    Visit Broker >
    Your capital is at risk
    4.23 /5
    Read Review
    AUD 100
    USD 7
    6 USD / lot - RAW Accounts
    60+
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    AUD 50
    USD 6.90
    Fees Included in Spread
    84+
    Visit Broker >
    Your capital is at risk

    MT4 Brokers with Lowest Cost of Trading

    This is our list of the best MT4 brokers showing those with the lowest cost of trading first. To calculate lowest trading cost we look at the cost of trading one lot of EURUSD on the account with the lowest minimum deposit. 

    Scroll for more detailsPreviousNext
    Overall Rating
    Regulators
    Min. Deposit
    Cost of Trading
    Trading Commission
    No. of FX Pairs
    Compare
    Official Site
    4.24 /5
    Read Review
    AUD 100
    USD 5
    1.8 - 3 USD per lot
    40+
    Visit Broker >
    Your capital is at risk
    4.69 /5
    Read Review
    AUD 250
    USD 6
    Fees Included in Spread
    93
    Visit Broker >
    Your capital is at risk
    4.39 /5
    Read Review
    AUD 250
    USD 6
    Fees Included in Spread
    50+
    Visit Broker >
    Your capital is at risk
    4.12 /5
    Read Review
    AUD 100
    USD 6
    4 USD / lot - Pro Account
    60+
    Visit Broker >
    Your capital is at risk
    4.05 /5
    Read Review
    AUD 5
    USD 6
    Fees Included in Spread
    33
    Visit Broker >
    Your capital is at risk

    MT4 Brokers with best education material 

    Broker education will vary considerably. Better brokers will offer beginners and experienced traders courses, coupled with webinars that allow interactive learning. A printable ebook is valuable for those who want to learn on paper and away from a keyboard. These are the MT4 brokers the best educational offering in the industry and ordered by their education score.

    Scroll for more detailsPreviousNext
    Overall Rating
    Regulators
    Min. Deposit
    Cost of Trading
    Trading Commission
    No. of FX Pairs
    Compare
    Official Site
    4.24 /5
    Read Review
    AUD 100
    USD 5
    1.8 - 3 USD per lot
    40+
    Visit Broker >
    Your capital is at risk
    4.48 /5
    Read Review
    AUD 100
    USD 9
    Fees Included in Spread
    50+
    Visit Broker >
    Your capital is at risk
    4.32 /5
    Read Review
    AUD 100
    USD 15
    Fees Included in Spread
    50+
    Visit Broker >
    Your capital is at risk
    4.69 /5
    Read Review
    AUD 5
    USD 7
    Fees Included in Spread
    330
    Visit Broker >
    Your capital is at risk
    4.37 /5
    Read Review
    AUD 10
    USD 15
    4 USD / ECN Accounts
    59
    Visit Broker >
    Your capital is at risk

    MT4 Brokers with most Forex pairs

    This is our list of MT4 broker with the most Forex pairs. The wider variety of Forex pairs available to trade the more trading opportunities will be presented. Forex brokers with too few Forex pairs available will could limit trading opportunities.

    Scroll for more detailsPreviousNext
    Overall Rating
    Regulators
    Min. Deposit
    Cost of Trading
    Trading Commission
    No. of FX Pairs
    Compare
    Official Site
    4.69 /5
    Read Review
    AUD 250
    USD 6
    Fees Included in Spread
    93
    Visit Broker >
    Your capital is at risk
    4.19 /5
    Read Review
    USD 50
    USD 11
    Zero Accounts
    85
    Visit Broker >
    Your capital is at risk
    4.18 /5
    Read Review
    AUD 50
    USD 6.90
    Fees Included in Spread
    84+
    Visit Broker >
    Your capital is at risk
    4.61 /5
    Read Review
    AUD 100
    USD 7.90
    From 7 USD / lot - Razor Account
    80+
    Visit Broker >
    Your capital is at risk
    4.34 /5
    Read Review
    AUD 5
    USD 12
    7 USD / lot - PRO account
    80+
    Visit Broker >
    Your capital is at risk

    Should I use MT4?

    If you are just starting your trading career you should consider moving straight to MT5 or cTrader instead. But, if you have been using MT4 and you are happy with it then keep on using it.

    MT4 is old, and MetaQuotes is actively trying to get Forex brokers to switch to MT5. MT4 is still the industry standard, but it will eventually be replaced. MT5 and cTrader also have more built-in functionality and have a more modern, cleaner layout.

    But if you have been using MT4 for some time, then your version is probably heavily customised. Algos built for MT4 will not function in MT5 or cTrader, so any customisations you have made will be lost.

    MT4 will eventually be replaced, but its popularity means that is not going to happen anytime soon. But if you want to move to a more modern platform, or you are just starting out then you should check out MT5 or cTrader.

    What is the difference between MT4 and MT5?

    The significant change is that MT5 has native support for shares, futures, and commodity trading, whereas MT4 does not. MT5 also has a new scripting language, MQL5, which allows for more rigorous backtesting of algorithms and more advanced trading robots. It is important to note that trading algorithms built for MT4 will not run in MT5 (and vice versa) due to the incompatibility of their scripting languages.

    MT5 also boasts a cleaner interface and comes with an integrated news feed and more charting capabilities. Additionally, MT5 is finally seeing serious support from the industry, with some brokers abandoning MT4 in favour of the newer version.

    Conclusion

    MetaTrader 4 is central for so many traders in their development towards becoming professional traders. It will be here for many years to come and will continue to help new traders launch a trading career. If you’re trying to get the most out of your charts and focus without the distraction of fancy tools, then it remains a candidate to satisfy 90% of all your trading needs.

    Forex Risk Disclaimer

    Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

    Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

    Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

    Our Methodology

    Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

    With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

    In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

    All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

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    Featured Brokers

    Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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