MetaTrader 4 (MT4) is a free trading platform, suitable both for new and experienced traders. Most Forex traders prefer to install it because of its extended functionality and usability. Almost all Forex brokers support MT4, but not all of them provide an opportunity to trade on favorable terms. The choice of a broker should be approached very carefully because the broker will store the capital and personal data of the trader.
In addition, the broker is responsible for trading conditions. The conditions usually include deposit and withdrawal fees, trading fees, order execution speed, and additional options.
Choosing a broker is a responsible task that can take a lot of time. The Traders Union has ranked the best MT4 brokers to save traders time and effort. According to experts, the top five companies include RoboForex, Exness, XM Group, as well as AMarkets, and IC Markets. Each of the brokers in the rating has its unique advantages and features.
RoboForex is the leader of the rating. The Traders Union awarded the company the title of the Best Forex Broker and the Best Liquidity Provider in 2022. Among the main advantages are instant deposit and withdrawal of funds. The broker is known for its proprietary service CopyFx, leverage up to 1:2000, and low spreads. The cons of RoboForex are no weekend trading and no additional bonuses for traders.
In addition to MT4, IC Markets supports MT5 and cTrader. The broker provides access to more than 90 instruments including 60 currency pairs, futures, CFDs on indices, commodities, metals, stocks, and bonds. IC Markets spreads are the lowest, as they start from 0 pips. The orders are executed instantly. Traders can use Expert Advisors. IC Markets pays attention to traders’ education, offering tutorials and educational materials for its clients. Islamic accounts for halal trading are available. The broker also offers quality customer service, as its support is multilingual and available 24/7.
Established in 2008, Exness has a strong reputation. According to the Traders Union, it is one of the best MT4 brokers to start with . The company’s monthly trading volume totals $325.8 billion. The broker now serves nearly 384,000 active clients. Traders’ funds are reliably protected due to account segregation. The broker supports multiple trading platforms, including MT4, MT5, MultiTerminal, and mobile platforms. Exness offers favorable trading conditions, including narrow spreads and infinite leverage. The only disadvantage is that the Exness Training resource section is currently available only in English.
The choice of a broker is individual for each trader, but the rating will help you weed out fraudulent offers and be confident in the company you entrust your funds. For those, who are interested in mobile trading, Traders Union experts also published the ranking of best trading apps in 2022 — the article can be found at Mint.
It executes more trading volume than any other MetaTrader broker each month and offers the full MetaTrader suite alongside competitive pricing, add-on trading tools, and quality market research. Is MetaTrader 4 only for trading forex? The MetaTrader 4 (MT4) platform is predominantly used for forex trading.