Best Forex Brokers Offering MT4 Trading Platform

Best Forex Brokers Offering MT4 Trading Platform

The world is heading towards advancement so are the international financial markets. Trading in these markets is not as easy and simple as it appears. Most forex traders have shifted towards automated trading. There are several trading platforms in the market that boost your trading through their precise analytical tools and raise your returns on trading. Now you must be thinking about where to get these platforms? and Which platforms are best for trading forex? We will solve each doubt striking your mind one by one in this guide.

How are MT4 and MT5 helpful in trading currency pairs?

Whenever you search the term forex trading and trading platform, the first thing you see on a search engine is mt4 trading platform and mt5 trading platform. What are these platforms? And Are they efficient for trading currency pairs? The answer is Yes. Both these platforms are advanced and contain all features which can boost and ease trading.

What are the features offered by the mt4 trading platform?

MT4 is an acronym of MetaTrader 4. It is an electronic platform for trading and is widely used by retail forex traders and investors. The MT4 was released in the year 2005 and was made by MetaQuotes Software. Many forex brokers opt for this licensed trading platform for their clients. The software contains both server and client components. The mt4 broker operates the server-side, and the financial service provider gives the client-side to users, who use the platform to monitor prices, charts, manage their trading accounts, and place orders.

It is the most secure, stable, and versatile tool for retail investors. The majority of forex brokers include MetaTrader 4 in their trading services, even if they have their own trading platforms. It is due to the widespread adoption and popularity of this platform in the financial sector. Some features MT4 trading platform include:

Real-time access to financial market prices and liquidity

MetaTrader 4 allows investors to execute trades and monitor real-time forex price quotes. The currency pairs or any other tradable asset that traders select through a financial service provider are placed on the Market Watch window. The real-time ask or bid price quote is also presented with the security symbol.

Investors can also view data such as contract size, margin percentage, spread, and margin currency from the same window. Moreover, the feature Depth of Market allows investors to view the real-time market status. For example, the number of sell or buy trade orders for a forex pair at distinct prices can be seen in this market depth section.

Fundamental and Technical tools of all level of traders

With numerous charting capabilities and in-built fundamental and technical indicators, MetaTrader 4 provides many tools for analysing market price. There are more than 30 technical indicators that come along with the platforms. It includes major volume and trend tools such as Relative Strength Index (RSI), Fibonacci Retracements, Moving Average Convergence Divergence, On-Balance-Volume (OBV), and several others.

Automated Trading feature for experts

Expert or professional forex traders can use automated trading strategies via MetaTrader 4 EA or expert advisors. Automated trading enables investors to leverage financial market movements without any human bias and any interference on the trader’s part. Furthermore, the MQL4 Integrated Development Environment or IDE enables investors to make their own technical indicators and EAs. Once this EA is created, you can backtest the strategy and optimise it on the system strategy tester.

Best MT4 trading platform brokers

A broker is an essential part of trading. It makes this roller coaster ride of trading CFDs easy going through its ultra-modern trading platforms. Here is the complete list of best forex brokers for trading and the MT4 trading platform.

1) HFTrading: Best MT4 broker providing excellent services

HFTrading is one of the best mt4 brokers regulated by two legit authorities: the Australian Securities and Exchange Commission and Financial Market Authority. The min deposit of the broker is as low as $250 and charges no commission on trading. It is a safe venture where there is no risk of losing your money. The broker facilitates trading cfds. Cfds are complex instruments that provide easy and massive profit. CFDs with the provider include forex, indices, stocks, cryptocurrency, futures, and several others.

Here at HFTrading, you can trade through different account types, including professional account, Islamic account, retail trading account, and a demo account to practice trading strategies. The broker also allows leveraged trading. However, leverage comes with a high risk of losing money. Therefore you must use it correctly. The trading platforms available are MT4, web trader, and mobile trading application.

2) Global TradeATF: No fixed spreads, online forex, and mobile trading

Global TradeATF is a trading brand of registered firms. The broker offers trading on multiple assets, including forex, indices, futures, stocks, cryptocurrency, and several others. The min deposit associated with each type is as low as $250. A forex market is a risky place for trading. Though it is reward generation at the same time carries a high risk of losing money. Efficient platforms mitigate this risk. Platforms of the broker include mt4 platform, mobile app, and web trader.

Apart from this, the broker offers dedicated customer support, technical analysis tools, various account types, and analytical. If you want to trade successfully in the forex, you can employ the broker’s economic calendar, trading signal, latest news, report season calendar, and several others.

3) T1Markets: Trade top forex pairs with the broker

It is the best mt4 broker offering top-class services at affordable charges. The brokerage firm does not charge any commission on trade. You just need to provide a min deposit of $250 to open a trade. With the firm, you get all top forex pairs for trading, including Eur/USD, USD/JPY, etc. To avail of the services, you need to spend just five valuable minutes. This process becomes easier if your documents are scanned beforehand.

It is very easy to reach the broker in case of any query. The customer support service of the broker is excellent and provides a precise and quick response. The firm’s research session includes the economic calendar, report season calendar, trading signals, and latest. At the same time, educational courses include articles, webinars, and courses. The MT4 platform offers several benefits to traders, including more than 60 analytical tools, regular price alerts, notifications of market events, multiple time frames, and one-click trading. But, it is better to understand how CFDs work before entering the real trading world. 

4) Brokereo: The leading firm offering exceptional services 

Many traders ask this doubt: Is Brokereo scam or safe? The answer to this is Brokereo is absolutely a safe venture to spend your hard-earned money. The Cyprus Securities and Exchange Commission or CySEC regulates it under licence number 189/13. Also, the firm is a trading brand of famous Concorde Investment Limited. Apart from this, it focuses on securing traders’ transactions and personal data through its advanced encryption and safeguard tools. Hence, the firm is safe. 

The broker facilitates trading on all top forex pairs such as EUR/USD, USD/JPY, AUD/USD, CAD/JPY, and others that too at low trading cost. It also offers cryptocurrency, stocks, indices, commodities, and metals to enhance your portfolio size and mitigate risk. There are various channels or account types to trade these assets, including demo account, retail trading account, professional account, and Islamic trading account. 

5) PrimeFin: Renuned and regulated broker offering excellence 

Are you searching for an mt4 broker offering excellent security? The PrimeFin is the one. It is a regulated firm licenced under Labuan Financial Services Authority. The broker’s main objective is to secure transitions, trading accounts, trading details, and traders’ personal information. For this, the firm offers SSL layer protection, robust encryption, modern safeguard tools, and SAS data servers. The firm’s min deposit is as low as $250 and charges no commission on trading. However, you need to deposit the essential spreads and swaps for opening the trading position overnight.

The broker has an economic calendar in the research arena, report season calendar, trading news, and signals for determining accurate entry and exit points. Brokers also focus on surging the trading knowledge by providing material such as articles, tutorials, courses, videos designed by professional experts. This material includes how to trade forex, best strategies for trading in financial markets, what traders can do to mitigate risk, the use of mt4 trading platform, what do bullish and bearish terms reflect, etc. Apart from this, trading is facilitated through three retail trading accounts, including gold, silver, and platinum. 

How to open an account with the forex broker? 

The account opening mechanism for all these forex brokers is more or less the same. You require to follow the steps provided below. It includes:

  1. Visit the official website of the broker and check the URL before providing details.
  2. URL once checked you can register yourself
  3. Upload the mandatory documents, including address proof, identity proof, and financial and bank statements not older than three months
  4. Choose the market, trade, and account type you wish to continue with
  5. Deposit the amount for the same, and now you can start trading 

The Bottom Line 

There is a lot of confusion between MT4 and MT5. Traders usually ask which is better between the two. The answer to this question is both are good on their own level. MT5 has some extra features and fits only seasoned traders. However, MT4 can be used by both novice and experienced traders efficiently. The former is very complex to operate, and the latter is easy to use and provides fast results. So, we find MT4 trading platform better in terms of functionality and simplicity. 

Various brokers offer trading through these platforms. We have listed the names of top and authentic firms. These brokers provide quality services at low trading costs and generate massive amounts from the market. But, we will suggest you start your journey with prior knowledge. This will mitigate risk and allow you to trade efficiently. If you have fear about market fluctuations and mechanisms, you can go with a demo trading account. It is the best platform through which you can practice trading and check the potential of your strategies. 

Frequently asked questions 

Which are the best mt4 brokers for trading forex?

Some of the well-regulated and legitimate brokers offer trading on mt4 that too at affordable price. It includes T1markets, Brokereo, HFTrading, Global TradeATF, PrimeFin, Investlite, and few others. 

What is mt4? 

MT4 is an acronym of MetaTrader 4. It is an electronic platform for trading and is widely used by retail forex traders and investors. The MT4 was released in the year 2005 and was made by MetaQuotes Software.

What are the advantages of mt4 trading platform? 

  • MetaTrader 4 allows investors to execute trades and monitor real-time forex price quotes.
  • Expert or professional forex traders can use automated trading strategies via MetaTrader 4 EA or expert advisors.
  • With numerous charting capabilities and in-built fundamental and technical indicators, MetaTrader 4 provides many tools for analysing market price. 

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