Best MT4 Brokers: How to choose a MetaTrader broker?

Best Forex Brokers Offering MT4 Trading Platform

What are MT4 forex brokers? 

MetaTrader 4 is a highly used trading platform that uses an electronic premise for rendering trading services to clients. Foreign traders use MT4 for retail investment. It is one of the most popular third-party platforms. Forex brokers get the license of the trading platform. Around 95 per cent of the brokerage services offer MetaTrader4 to their users. 

MT4 Forex brokers make it possible for traders to buy and sell currency pairs without a problem. The tools, charts and indicators offered by the platform are unprecedented and unparalleled. Thus, the joy of investment gets better with each investment. 

The trading platform enhances the effectiveness and efficiency of traders. It saves time in the execution of bids. Thus, profits get bigger. 

Best MT4 brokers 

Some of the best MT4 brokers include:- 

  • Brokereo
  • Capixal
  • IC Markets
  • FP Markets 
  • ABinvesting
  • InvestBy
  • FXTM
  • BDSwiss
  • PrimeFin

Brokereo overview 

Brokereo provides one of the finest forex tradings to all its clients. The brokerage firm is a product of Neo Premium Investments LTD. Investors can use procedures like CFDs for investing in the financial market. With that, a trader does not need to own the asset. It is purely based on speculation. The broker helps in determining the preferences through its educational tools and fantastic indicators that aid in acknowledging the market’s direction. 

Some of the best currency pairs offered by Brokereo are:- EUR/USD, EUR/CAD, CHF/JPY, AUD/USD, USD/JPY, GBP/USD etc. 

Pros 

  • The finances remain secure 
  • 24/5 customer support
  • 20 plus analytical tools 
  • Cutting edge trading platform like MT4
  • More than 300 assets for trading 
  • Limitless market opportunities
  • Amazing trading speed
  • Optimum transparency while trading
  • Multifunctionality
  • User-friendly interface

Cons 

  • Does not offer services in the United States

Minimum Deposit 

Traders have to make a minimum deposit of USD 250 before starting the trade in the forex market on Brokereo. The transaction can be done using several options offered by the broker. 

Leverage 

The maximum leverage Brokereo offers to retail traders is 1:30 to all accounts. However, if you are a professional trader, the leverage goes up to 1:500. Thus, trading with that limit gives freedom to earn better with lesser investment.

Trading platforms 

  • Mobile App
  • MetaTrader4
  • WebTrader

Regulation 

The broker is regulated by CySEC (Cyprus Securities and Exchange Commission). The registration number is HE300828 and the license number is 189/13.  Thus, the broker is good for trading and safe. 

Capixal Overview 

For joining the exciting market of trading, and making massive money on investments, Capixal broker is the best choice for foreign exchange traders. The broker offers solid grounds for forex traders with 60 plus analytical tools for predicting the market. Through its news and educational elements, the broker helps in thriving at bigger heights. That’s why it is one of the best MT4 brokers. 

It offers a plethora of currency pairs for trading: AUD/CHF, CAD/CHF, AUD/USD, AUD/NZD, AUD/JPY, CAD/JPY etc. 

Pros 

  • 45 plus CFD currency pairs
  • Educational hub
  • Professional analytical toolkit
  • Zero commission on transactions
  • Real-time market notifications
  • Free practice account
  • Four customisable accounts
  • Seven languages for speaking with customer support
  • Three trading terminals 
  • Allows cross border operations

Cons 

  • Not offering services in some countries 

Minimum deposit 

Traders have to make USD 250 as a minimum deposit before starting trading in the forex market. 

Leverage 

For professional traders, the maximum leverage goes as high as 1:200 for forex traders. On the other hand, retail traders can have a maximum of 1:30 as leverage due to the European Union’s guidelines. 

Trading Platforms

  • WebTrader
  • Mobile App 
  • MetaTrader4

Regulation 

IFC Investments Cyprus LTD is the company behind providing trading platforms like MT4, which are conducive for investment in the forex market. CySEC is the regulatory authority that sees over activities carried by the broker Capixal. Its license number is 327/16. 

PrimeFin Overview

PrimeFin is a leading forex broker that has a core and simple concept of providing benefits to its traders. It favours high-speed trading to clients. Therefore, bidding and selling are easy here. The advantage is huge while trading with its seamless user interface and dynamic trading environment. It has established a full market capacity that allows traders to invest freely. Some of the best forex pairs are:-  EUR/CAD, CHF/JPY, USD/JPY, EUR/USD, GBP/USD, etc. 

Pros 

  • High order execution 
  • Low commission fee
  • Dedicated support
  • Assistance in the high volatility market
  • Best educational tools and articles 
  • Data safety features for better trading
  • Cross-platform trading
  • Live market dynamics
  • Analyse live market charts

Cons 

  • Not available in the US

Minimum deposit 

USD 250 is the deposit that traders need to make before starting forex trading in the volatile market. It is feasible and can earn traders great profits with viable strategies in place. 

Leverage 

The maximum leverage here is 1:100. So, as a forex trader, you can make maximum profits. 

Trading Platforms 

  • MetaTrader4
  • Mobile App
  • WebTrader

Regulation

The broker is regulated by LFSA(Labuan Financial Services Authority). Caps Solutions Ltd. is the parent company of the brokerage firm. Its registration number is 12734767. Moreover, the license number is MB/20/0052. These features make it one of the best MT4 brokers. 

ABinvesting overview: 

The broker ABInvesting helps weed out all challenges pertaining to forex trading and aids traders grow their wealth. It keeps clients away from every pitfall and guides them through research tools, and regular alerts. Moreover, there are analytical tools and charts that elevate the investment standards in various instruments that create a defining portfolio. Here are some currency pairs it offers with the best trading platform MT4:- USD/JPY, NZD/USD, GBP/USD, EUR/USD, EUR/CHF, EUR/JPY etc. 

Pros 

  • No hidden commissions
  • CFDs on 45 plus currency pairs
  • Real-time market notifications for making strategies
  • A dedicated customer support
  • Professional analytical toolkit
  • Huge educational hub
  • Cross-platform trade
  • One-click trading options
  • Demo account for warming up before investing in the live market
  • Customised trading accounts

Cons 

  • No US trading is available 

Minimum Deposit 

The minimum deposit is USD 250, which is a standard price for all traders alike. So, they can invest in the market without inhibitions or a hitch. 

Leverage 

The maximum leverage that can be used by a client while using ABinvesting is 1:500 for forex trade. That’s incredibly high and beneficial if backed by proper planning. 

Trading Platforms 

  • MetaTrader4
  • Mobile App
  • WebTrader

Regulation

Hub Investments Ltd is the parent company of ABinvesting. It is regulated by the top regulatory authority CySEC. The license number is 315/16. Additionally, its registration number is 176512 GBC. Moreover, it is also regulated by FSC (Financial Service Commission) Authority, Mauritius. Hence, it substantiates that it is one of the best MT4 brokers. 

InvestBy Overview:

The broker is renowned to set the futures of clients through better service facilities and approaches in the financial market. Its breakthrough investment arena offers access to the finest trading environment that makes investments better for traders. Through the availability of CFD, market players can take a leap in earnings. Through contemporary technology and educational support, users can enhance their skills. The forex broker provides the following currency pairs:- CAD/JPY, EUR/CAD, GBP/USD, EUR/USD, USD/JPY, CAD/CHF etc. 

Pros 

  • Trade on more than 45 currency pairs
  • Cross platform access
  • A dedicated support team
  • Contemporary education hub
  • Trade through multiple devices
  • Flexible spreads
  • No hidden fees
  • Beneficial execution speed
  • Customised trading accounts
  • Appealing leverage

Cons 

  • MT5 is not present 

Minimum deposit

The minimum deposit is USD 250 for interested traders. That makes trading conducive for even beginner traders. The guidance is offered by the InvestBy broker. 

Leverage 

The leverage is satisfactory enough, 1:100 for all traders and account types. Investors can see the forex market and take the currency pair which has the best volumes. 

Trading Platforms 

  • MetaTrader4
  • Mobile App
  • WebTrader

Regulation 

TechFX LLC holds the ownership of the brokerage firm. NBRB regulates it. The registration number is 693150519, and the license number is 40023. So, it is a genuine broker that follows great regulations and guidelines of the market. 

IC Markets Overview 

The broker is slightly difficult to operate and understand for a beginner trader. One needs to spend time learning it. So, that’s one of the drawbacks. Moreover, the user interface is also not supportive of the needs of investors. So, not everyone can create an account with a brokerage firm. The forex currencies offered are:- AUD/USD, USD/JPY, USD/CAD, GBP/USD, EUR/USD etc. 

Pros 

  • The forex market is available 24/5 
  • Spreads start from 0 pips 
  • Micro lot trading is allowed
  • Over 1780 tradable instruments 

Cons 

  • The colour combination of the website does not suit eyes 
  • Not user-friendly 
  • It does not provide full information 
  • Account registration is difficult 

Minimum deposit 

People have to shell out a minimum of USD 200 before trading in the trading market. Veteran traders may not find it difficult to arrange that money. 

Leverage 

The minimum leverage offered by the broker is 1:1, which is of no use and does not make any sense. However, the highest leverage 1:500 is good for forex traders, who look for bigger benefits. However, they should be cautious because it can put their funds in jeopardy without expert advice and they can incur heavy losses. 

Trading Platforms 

The broker offers the following trading platforms:- 

  • cTrader
  • MetaTrader4
  • MetaTrder5
  • WebTrader

Regulation 

The broker provides services in multiple nations. Thus, it is also regulated by different regulatory authorities, including ASIC, CySEC, Financial Services Authority of Seychelles etc. Moreover, it has many licenses and registration numbers for trading there. So, it is safe for trading. IC Markets Ltd. is the parent company of the brokerage firm. 

FP Markets 

The First Prudential Markets, also known as FP Markets, was founded in the year 2005. It has been rendering forex trading services along with others to its client base. In addition, it is offering to trade to investors worldwide. Moreover, it has more than 10K CFD assets for market players. However, one should be sure before investing in them. There may be chances that people end up losing their funds there. Some of the currency pairs are:- CAD/JPY, CHF/SGD, EUR/DKK, AUD/CAD, AUD/USD, EUR/PLN, GBP/CHF etc. 

Pros 

  • The dedicated support is available 24/7
  • There is zero per cent commission
  • Spreads are tighter that start from 0 pips 
  • Quick execution of bidding 
  • Customisable alerts
  • One-click trading
  • No price manipulation
  • 60 plus currency pairs for trading
  • Low cost trading

Cons 

  • User interface not up to the mark
  • Not conducive for trading 
  • The website is slightly slow in operating 
  • It does not function properly sometimes 

Minimum deposit 

The minimum funds required to deposit at FP Markets is USD 100, which is fine. However, one has to be ready for the volatile market to change its course. 

Leverage 

The leverage offered by the broker is 1:30 for trading. 

Trading Platforms

The trading platforms are:- 

  • Mobile App
  • MetaTrader4
  • MetaTrder5
  • WebTrader

Regulation 

CySEC regulates the broker. Its licence number is 371/18. The registration number is HE 372179. So, traders can use it for trading. 

BDSwiss Overview 

The broker BDSwiss is offering 1000+ instruments for trading in various markets, including forex. However, they can be traded using CFDs. Thus, traders need to learn that by drawing sometimes. The brokerage firm was founded in 2012 and has been continuing since then. It has clients in several countries. 

Pros 

  • Over 1.5 million registered accounts
  • Trading volume is huge 
  • Competitive conditions for trading

Cons 

  • The broker does not comply with traders’ needs
  • It is slightly slow in trading 
  • Insufficient learning centre

Minimum Deposit 

The broker seeks a minimum of USD 100. However, it is difficult to find it on the official website. 

Leverage 

The highest leverage provided by the broker is 1:500, which is a double-edged sword.

Trading Platforms 

  • MetaTrader4
  • MetaTrader5
  • Mobile App
  • WebTrader

Regulation 

BDSwiss is the broker, which is regulated by four regulatory authorities. 

CySEC:- License number 199/13

FSA:- License number SD047

BaFin:- Registration number 160749B

FSC:- License number C116016172

FXTM Overview 

The broker FXTM was established in 2011 for offering trading services to beginner to veteran traders globally. It primarily offers forex instruments to market players. The brokerage firm operates in multiple countries worldwide. It is a product of Exinity Group. The financial service provider renders different technology for trading currency pairs. It provides currency pairs like USD/JPY, EUR/JPY, EUR/GBP etc. 

Pros 

  • The website provides market analysis
  • There are guides for improving trading skills
  • Forex news timeline
  • Economic calendar

Cons 

  • The information available here is insufficient
  • Opening an account isn’t easy

Minimum deposit 

The minimum deposit required on FXTM is USD 50, which is affordable for traders.

Leverage

The maximum leverage for forex trading is 1:500 for all traders. 

Trading Platforms 

  • MetaTrader 4
  • MetaTrader 5
  • FXTM Trader

Regulation

  • CySEC: License number 185/12
  • FSCA South Africa
  • Financial Conduct Authority: License number 777911

How to open an account with the MT4 forex broker?

Traders can open an account on the best MT4 forex brokers through the following ways:- 

  • Provide important information and details like email id, full name, password etc.
  • Give the documents that can verify the claims made by you. Government IDs are preferable.
  • Deposit the money and start trading. 

Why is MT4 so popular?

MT4 is the best forex trading platform. Thus, traders choose it for amazing tools and features that help them draw great benefits in the volatile market. 

How to choose a MetaTrader broker?

For choosing a MetaTrader broker, a trader needs to see the regulations, services and features offered by the brokerage firm. 

Pros and Cons of MetaTrader

Pros 

  • Functionality is amazing
  • Elevates the trading capacity

Cons

  • Automated trading is not fully reliable. 

Conclusion:

Capixal, Brokereo, ABinvesting, InvestBy and PrimeFIn emerge as the best MT4 brokers. Their services are better suited and believable for all investors irrespective of experience. These brokerage firms provide unconventional ways of forex trading that are conducive for market players. Plus, the features that they produce are favourable. The application of some strategies and a little knowledge can do wonders while investing. 

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