27 Best MetaTrader4 Forex Brokers

 

The MetaTrader 4 trading platform is undoubtedly one of the most popular trading platforms in the forex industry today, offering an impressive suite of advanced analytical capabilities, broad-ranging compatibility, and a user-friendly interface.

 

 

There are a huge number of forex brokers who offer traders access to the MetaTrader 4 terminal so that finding the best MT4 broker can be something of a daunting task.

 

Here are our 10 Best MetaTrader 4 brokers reviewed.

• ✔️AvaTrade
• ✔️XM
• ✔️Alpari
• FXTM
• FP Markets
• Go Markets
• XTB
• AxiTrader
• Darwinex
• LiteForex
• OctaFX

We’ve made the process a lot easier with this comprehensive list of the 27 best MetaTrader 4 forex brokers in the industry today so that you can enjoy advanced trading capabilities with a competitive trading environment.

 

AvaTrade

 

 

Overview

With AvaTrade’s MetaTrader 4, you can open an account to trade with competitive spreads on the world’s most powerful and advanced platform. AvaTrade excels once again at offering traders a wide array of financial trading instruments.

The broker offers over 50 currency pairs available, including all majors, minors, and many exotics available 24 hrs a day, 7 days a week. Traders can enjoy competitive spreads as low as 0.8 pips, and leverage up to 400:1.

 

Pros and Cons

✔️PROS	❌CONS
A broad range of tradable instruments	High EURUSD and inactivity fees
MetaTrader 4 and 5 are available
Excellent educational resources

 

Features

Feature	Information
Regulation	Central Bank of Ireland, MiFID, ASiC, BVI
Minimum deposit from	$100
Average spread from	0.9 pips
Commissions from	No commission on Forex
Deposit/Withdrawal Fees	None
Maximum Leverage	1:400
Bonuses	First Deposit Bonus
Customer Support	24/5 – multilingual

 

XM

 

 

Overview

XM pioneered the offering of an MT4 platform with trading execution quality in mind. Trade on MT4 with No Requotes, No Rejections with flexible leverage ranging from 1:1 – to 888:1.

XM sets high standards for its services because quality is just as decisive for the broker as for its clients. The broker uses versatility in thinking and a unified policy of business principles.

The XM’s mission is to keep pace with global market demands and approach its clients’ investment goals with an open mind.

 

Pros and Cons

✔️Pros Low minimum deposit Comprehensive educational offering Streamlined account opening process

❌Cons Inactivity fee charged after 90 days on live accounts Limited product portfolio

 

Features

Feature	Information
Regulation	IFSC, ASIC, CySEC, FCA and DFSA
Minimum deposit from	$5
Average spread from	0.1 pips
Commissions from	$3.5 commission per $100 000 traded
Deposit/Withdrawal Fees	None
Maximum Leverage	1:30
Bonuses	$30 Trading Bonus
Customer Support	24/5

 

Alpari

 

 

Overview

Alpari is one of the largest forex brands around, and Alpari’s broad range of services enables you to get the best guidance, advice, and resources to build a richer portfolio.

The Alpari brand boasts over two million clients thanks to the reputation it has built over the past two decades.

With Alpari International, you have everything you need to start trading forex, metals, cryptocurrencies, and commodity futures CFDs. Benefit from trading tools, interbank liquidity, advanced trading platforms, and financial news to help you on your way.

 

Pros and Cons

✔️Pros   Advanced copy trading software available Wide selection of tradable assets Low minimum deposit Excellent multilingual customer support

❌Cons   High trading fees Limited educational resources and research tools

 

Features

Feature	Information
Regulation	Financial Services Commission (FSC)
Minimum deposit from	$100
Average spread from	1.2 pips on majors
Commissions from	charged at 4 units of the Base currency
Deposit/Withdrawal Fees	None
Maximum Leverage	1:1000
Bonuses	Cashback Promotion
Customer Support	24/5

 

FXTM

 

 

Overview

 

FXTM, also known as “ForexTime”, is a well-established Forex / CFD brokerage house that has been in business ever since 2011.

FXTM has grown rapidly in recent years and has a corporate structure composed of three entities that match its three bases of operations: the U.K., Cyprus, and Mauritius.

FXTM allows its clients to trade Forex currency pairs and crosses, including some exotics, the precious metals gold, and silver, crude oil, and natural gas.

 

Pros and Cons

✔️PROS	❌CONS
Superb customer service	Inactivity and withdrawal fees
High maximum leverage	Limited product portfolio
Great educational tools

 

Features

Feature	Information
Regulation	CySEC, FCA, FSCA
Minimum deposit from	$100
Average spread from	0.9 pips
Commissions from	No commission
Deposit/Withdrawal Fees	$3
Maximum Leverage	1:500 on average
Bonuses	$300 Trading Bonus
Customer Support	24/5

 

FP Markets

 

 

Overview

FP Markets offers traders the opportunity to trade a wide range of instruments mostly wrapped as CFDs (Contracts for Difference), offering over thirteen thousand tradable instruments.

These include an incredible selection of over thirteen thousand individual shares quoted in leading global markets.

In addition to individual shares, FP Markets offers trading in over 60 Forex currency pairs and crosses, the commodities gold, silver, and WTI Crude Oil, 5 cryptocurrencies, and 11 major global equity indices.

 

Pros and Cons

✔️PROS	❌CONS
Competitive trading fees	High stock CFD Fees
Easy account opening Fast processing for deposits and withdrawals	Limited range of asset classes

Features

Feature	Information
Regulation	Australian ASIC, Cypriot CySEC, SCB
Minimum deposit from	$100
Average spread from	0.5 pips
Commissions from	$55 monthly commission for IRESS Trader users only
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	$30 Welcome Bonus
Customer Support	24/5

 

Go Markets

 

 

Overview

GO Markets is one of Australia’s original Meta Trader 4 Forex brokers. Since 2008, the broker has offered traders a powerful and valued trading platform and advanced technologies, helping new and skilled traders alike implement their trading strategies.

 

Pros and Cons

✔️Pros   Low trading fees Ultra-fast execution Advanced analytical tools Low minimum deposit

❌Cons   Limited account options

 

Features

Feature	Information
Regulation	ASIC
Minimum deposit from	$1
Average spread from	1.5 pips
Commissions from	None
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	30% Deposit Bonus
Customer support	24/5

 

XTB

 

 

Overview

XTB is a leading online FX & CFD (contracts for difference) trading firm based in Europe, offering access to over 1500 instruments from two platforms: its own award-winning xStation 5 and the traditional MT4.

Traders can choose from CFDs on FX, Indices, Cryptocurrencies, Shares, Commodities, and ETFs.

XTB is a leading European broker that was founded in 2004 and is one of the largest stock exchange-listed brokers in the world with offices in 13 countries including the UK, Spain, Germany, France, and Chile.

 

Pros and Cons

✔️Pros   Low trading fees Free deposit and withdrawal

❌Cons   High stock CFDs Limited asset portfolio

 

Features

Feature	Information
Regulation	KNF, FCA, CySEC and IFSC
Minimum deposit from	$250
Average spread from	1.02 pips
Commissions from	0.08% of trade value with $8 minimum
Deposit/Withdrawal Fees	$30 on withdrawals of less than $50
Maximum Leverage	1:500
Bonuses	$40 No Deposit Bonus
Customer support	24/5

 

AxiTrader

 

 

Overview

AxiTrader is primarily a forex broker and offers over 80 currency pairs which are ample coverage of the currency market; plenty of minor and exotic currencies are available for trading.

A mix of hard and soft commodities, 31 equity CFDs, and six cryptocurrency CFDs complete the offered products. The asset selection is rather limited and proper cross-asset diversification is impossible.

Pure Forex accounts enjoy a sound selection of assets, and indices are presented properly. AxiTrader offers new retail traders plenty of opportunities to start their first trading account.

 

Pros and Cons

✔️PROS	❌CONS
No Minimum Deposit	Limited research tools
MetaTrader 4 available

 

Features

Feature	Information
Regulation	ASIC, FCA, DFSA
Minimum deposit from	No minimum deposit
Average spread from	1.24 pip
Commissions from	$ 7 commission charged per round
Deposit/Withdrawal Fees	None
Maximum Leverage	1:400
Bonuses	20% Deposit Bonus
Customer Support	24/5

 

Darwinex

 

 

Overview

Darwinex launched in September 2014 as a new and innovative social/copy trading service. It is an innovative social trading and investment platform which connects independent traders with potential retail investors

Apart from these copy trading abilities, while Darwinex also offers the full MetaTrader suite, the offering is just average due to higher pricing, weak research, and a lack of great tools.

 

Pros and Cons

✔️PROS	❌CONS
Competitive spreads Three base currencies are available	You have to sign up either as a trader or an investor 20% performance fee Complicated account opening process

 

Features

Feature	Information
Regulation	FCA
Minimum deposit from	$500
Average spread from	0.0 pips
Commissions from	3.0 USD per lot round-trip
Deposit/Withdrawal Fees	0.5% for skrill
Maximum Leverage	1:30
Bonuses	None
Customer Support	24/5

 

LiteForex

 

 

Overview

The LiteForex brand was created in 2005 with the aim to provide a transparent and accessible trading opportunity to world traders and investors.

LiteForex is a global forex and CFD broker located in the Marshall Islands. It offers forex, stock, indices, commodities, and cryptocurrencies for trading on its platforms. With 13 years of experience in the brokerage industry, LiteForex is an established ECN broker.

 

Pros and Cons

✔️PROS	❌CONS
Social trading available MetaTrader 4 and 5 are available Multilingual customer support	Limited trading instruments No VPS available

 

Features

Feature	Information
Regulation	Marshall Islands Business Corporation Act
Minimum deposit from	$50
Average spread from	1.9 pips
Commissions from	No commissions
Deposit/Withdrawal Fees	None
Maximum Leverage	1:1000
Bonuses	100% forex deposit bonus
Customer Support	24/5

 

OctaFX

 

 

Overview

OctaFX has some of the lowest spreads when compared to other brokers. With OctaFX there is no slippage or requotes and commissions on FX pairs are close to zero particularly for traders who have an ECN account.

 

Pros and Cons

✔️PROS	❌CONS
Ultra-fast execution	No VPS available
More than 30 forex pairs are available Well-regulated	No Forex educational tools

 

Features

Feature	Information
Regulation	CySEC
Minimum deposit from	$100
Average spread from	0.7 pips
Commissions from	None
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	50% Deposit Bonus
Customer Support	24/5

 

Tickmill

 

 

Overview

Tickmill is a global forex and CFD broker, established in 2014. The company is regulated by the Financial Conduct Authority, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority of Seychelles.

Tickmill has low trading and non-trading fees. It has one of the lowest forex commissions among brokers. The account opening is fast, easy, and fully digital. You can use a lot of options for deposit or withdrawal, and they’re free of charge.

 

Pros and Cons

✔️PROS	❌CONS
Competitive pricing Well regulated High leverage Advanced trading software STP model

 

Features

Feature	Information
Regulation	FSA
Minimum deposit from	$100
Average spread from	0.1 pips
Commissions from	‎2 per side per 100,000 traded
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	$30 Welcome Bonus
Customer Support	24/5

 

InstaForex

 

 

Overview

InstaForex EU is part of the InstaForex brand that was established in 2007 and is home to over 7,000,000 traders.

The group as a whole represents a leader in the retail sector and InstaForex EU caters specifically to EU-based traders. InstaForex EU aims to provide first-class trading services and to become the broker of choice for all EU-based traders.

This broker claims to be an ECN broker offering over 200 assets across five asset classes. Over thirty analysts are employed, offering research to clients, and this broker was awarded over 30 industry awards since 2009.

 

Pros and Cons

✔️PROS	❌CONS
Relatively high maximum leverage No minimum deposit Reputable regulation

 

Features

Feature	Information
Regulation	CySEC
Minimum deposit from	No minimum deposit
Average spread from	Average floating 0.8 pips
Commissions from	‎None
Deposit/Withdrawal Fees	None
Maximum Leverage	1:1000
Bonuses	30% Deposit Bonus
Customer Support	24/5

 

City Index

 

 

Overview

City Index was founded in 1983 and is part of publicly traded company Gain Capital Holdings Inc (NYSE: GCAP) which is one of the largest retail and institutional trading providers in the world.

City Index is authorized and regulated by the UK Financial Conduct Authority, offering a high level of security and safety.

The broker offers retail, professional, and premium trading accounts to trade on 12,000+ instruments covering Indices, Shares, Forex, Cryptos, and Commodities via Spread Betting, CFD, and Options.

Spread Betting accounts offer commission-free trading, with CFD accounts offering commission-free trading on all asset classes with the exception of Shares. Spreads are fixed or variable.

 

Pros and Cons

✔️PROS	❌CONS
Low trading fees No fees for deposit and withdrawal Comprehensive research tools	Limited product portfolio

 

Features

Feature	Information
Regulation	FCA, ASIC
Minimum deposit from	$100
Average spread from	1.5 pips
Commissions from	‎$3
Deposit/Withdrawal Fees	None
Maximum Leverage	1:200
Bonuses	Deposit Bonus
Customer Support	24/6

 

IC Markets

 

 

Overview

IC Markets is a great forex and CFD broker.

Its forex fees are low and account opening is fast and easy. Deposits and withdrawals are free and user-friendly. The education section of its website is also a plus.

On the other hand, IC Markets offers only forex, stock CFD, crypto trading, and a limited number of CFDs on futures, bonds, indices. It also does not provide any investor or negative account balance protection.

 

Pros and Cons

✔️PROS	❌CONS
Low trading costs Easy process to open an account No deposit or withdrawal fees	Limited range of CFDs

 

Features

Feature	Information
Regulation	ASIC
Minimum deposit from	$200
Average spread from	0.0 pips
Commissions from	‎None
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	None
Customer Support	24/7

 

Pepperstone

 

 

Overview

Pepperstone is a trustworthy and good forex broker, regulated by the top-tier FCA and ASIC. Forex and equity index fees are low, customer service good, providing relevant answers within a short time. Deposit and withdrawal are easy, with no fees charged.

As a market maker, Pepperstone may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements.

 

Pros and Cons

✔️PROS	❌CONS
Low forex and equity index CFDs No deposit fee Negative balance protection	Only forex, CFDs, and cryptos are available

 

Features

Feature	Information
Regulation	FCA, ASIC
Minimum deposit from	AUD200
Average spread from	0.4 pips
Commissions from	‎$3.76 commission per lot per trade
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	None
Customer Support	24/5

 

FxPro