MT4 is short for MetaTrader 4 and it is a trading platform which was developed and is run by MetaQuotes Software. It was launched in 2005 and has grown to become the standout most trusted and well-recognized trading platform in the industry. The MT4 platform provides the very best in trading capabilities to the forex market from both the broker and trader side. The platform itself features both a server, and client interface to serve the needs of both with ease and reliability. The server side is controlled by the broker, while the trader manages the client side of the software. The nature of the platform also provides it with fantastic ability to be customized and crossover for use with all brokers who facilitate it.
Platforms: MT4 Desktop, MT4 Web, MT5 Desktop Regulations: MIFID-ESMA, ASIC, CYSEC Minimum Deposit: 5
Rounding off the first 5 of our list of best forex brokers using MT4 is the well-known XM. Our XM review noted that they have more than 1000 trading instruments available for traders to take advantage of. All of these are operated through the sole trading platforms of XM. These platforms are primarily MT4, with MT5 also available.
This level of trust from a broker to the platform exemplifies why MT4 has been able to establish as one of the best and most-trusted in the industry. It has also been a big factor in the rise of XM.com and other top MT4 forex brokers over the years.
Helping the rise is a $5 minimum deposit that makes it very accessible to all. This, combined with an excellent value spread starting from 0 pips makes XM a top choice for beginners and all who can further learn and grow from a top class educational offering too.
Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web Regulations: MIFID-ESMA, CYSEC, Offshore, FSC (Mauritius) Minimum Deposit:
On our top best MT4 forex brokers we have HotForex. They are another long standing, MT4 exclusive broker. They make the trading platform available on desktop, webtrader, and all kinds of smart and mobile devices. Their MT4 trading platform benefits from additional features thanks to their collaboration with Blue Labs to enable some premium trader tools add-ons as mentioned in our Hot Forex review.
This makes what is already a great platform and one of the best MT4 forex brokers, even better for traders. If you are looking for a broker to really get the most out of MT4 then this could be the perfect choice.
Adding to the appeal with HotForex is a really low minimum deposit from just $5 on a micro account ideal for beginners. There is something for everyone here though with 6 specific account types including one dedicated to stock from $10,000 minimum deposit, and even a copy tradinng service called HF Copy built in to the broker.
Platforms: Mirror Trader, Proprietary Desktop Platform Regulations: FCA, MIFID-ESMA, CYSEC, Offshore Minimum Deposit: 0
XTB is the next major broker to feature in our top MT4 brokers list. They are a strong company within the industry, particularly within Europe, and like so many of the other top brokers they clearly recognize the value of making the MT4 trading platform available to traders alongside their own trading platform, both featuring in our XTB review.
It can bring an additional sense of trust and transparency to be an MT4 forex broker as they are utilizing a platform which any experienced trader can recognize and has likely used previously. This familiarity also ensures that as a trader, you stand the best possible chance of making successful trades with a likely prior knowledge of the trading platform.
With that said, XTB is attractive to new traders too with no minimum deposit needed. This then provides access to a wide range of more than 1,500 markets, 48 of which are forex pairs with a spread starting from a really low 0.1 pips. They also boast an impressive array of 25 crypto assets providing flexibility to all traders.
Platforms: cTrader desktop, cTrader web, MT4, MT5 Regulations: FCA, MIFID-ESMA, FSCA, CYSEC, Offshore Minimum Deposit: 100
Next on our listing of best MT4 forex brokers is FxPro. They are a top, award -winning broker and well-regulated around the world, including by CySEC. Our FxPro review noted that they offer several trading platforms including their own proprietary one, but they retain a dedication to being among the best MT4 forex brokers in the sector.
The long-standing nature of both MT4 and FxPro make them the perfect combination for any trader who values speedy and reliable order execution from a top broker. FxPro offers MT4 in all of its forms. This includes on desktop, mobile, and web-based which is easily accessible to millions of traders.
You can get started at FXPro for as little as a $100 minimum deposit and the broker facilitates both fixed and variable spreads through MT4. More experienced traders are also glad to find that EAs are allowed here allowing them to take advantage of algorithmic trading opportunities.
Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web Regulations: MIFID-ESMA, CYSEC, Offshore Minimum Deposit: 1
Next among our MT4 brokers list is FBS. Another CySEC regulated broker, as we can see through our FBS review, they are fully dedicated to offering MT4 exclusively to traders. Again this allows all levels of trader from beginner to experienced, to utilize one of the best trading platforms in the business to execute lightning fast trades.
It is one of the best trading platforms for many reasons, one being the simplicity with which trades can be executed. This is something FBS traders can look forward to when trading on the MT4 platform.
Showing their range of appeal, the FBS cent account is hugely popular with new traders as a low risk choice to get started from just $10, while the ECN account type with minimum deposit from $500 for non-Europeans only, is the account of choice for many experienced traders to take advantage of the great value spread from 0 pips.
Platforms: cTrader desktop, cTrader web, ZuluTrade, MT4, MT5 Regulations: FCA, MIFID-ESMA, ASIC, DFSA, CYSEC, Offshore Minimum Deposit: 0
Pepperstone is a globally respected broker in its own right. They are the first to feature as one of our MT4 best brokers list. The broker offers the MT4 trading platform with all account types including standard, razor, and swap-free.
Our Pepperstone review also details how they offer a special suite of smart trader tools. These will help you unlock the fullest potential of the trading platform and all of the professional tools and charting capabilities it possesses. These tools can greatly enhance your trading potential as well as your ability to engage with MT4 features such as Expert Advisors. Overall, Pepperstone has utilized its top position and many years in the industry to great effect when harnessing the MT4 trading platform.
Added to this, the broker offers excellent value to all traders. This is shown in their competitive minimum deposit of only $200 together with fantastic value spreads starting from 0 pips on forex and an active trading program that can help further reduce an already low trading cost.