Pepperstone – Free MT4 AccountJoin Now

75.2% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

The 6 Best Brokers for MT4 (MetaTrader 4) in the UK (June 2024)

The 6 Best Brokers for MT4 (MetaTrader 4) in the UK (June 2024)

All products and services featured are independently selected by WikiJob. When you register or purchase through links on this page, we may earn a commission.

75.2% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

A List of The Best MetaTrader 4 Brokers – Top 6 in the UK

The selection of the best brokers for MT4 in the UK is crucial for traders seeking a powerful and reliable trading platform. Some of the top choices include well-established brokers like:

  1. Pepperstone – Best MT4 Broker (UK) With No Minimum Deposit
  2. AvaTrade – Best Broker for MT4 Regulated Worldwide
  3. IG – Top Broker With MetaTrader 4 Demo Account
  4. Vantage Markets – One of the Best MT4 Brokers With Low Fees
  5. XTB – Leading MetaTrader Broker With Various Trading Options
  6. ActivTrades – Forex MT4 Broker With Optimal Trading Execution

These platforms offer a combination of low spreads, robust technical analysis tools, and excellent customer support. These brokers are regulated by the Financial Conduct Authority (FCA), ensuring a high level of trust and security for UK traders.

However, the choice ultimately depends on individual trading preferences, so comparing features, fees, and available assets is advisable to find the best MT4 broker that aligns with your specific trading needs.

Best Brokers for MT4 UK in June 2024 – Comparison Chart

Broker

Pepperstone

Regulation

FCA, DFSA, CySEC, BaFIN, ASIC, CMA, SCB

Instruments

Forex, CFDs, Indices, Commodities, Spreadbetting (UK), ETFs

Minimum Deposit

$0

Pepperstone

Broker

AvaTrade Logo

Regulation

ASIC, FSCA, BVI, Central Bank of Ireland

Instruments

Forex, CFDs, Cryptos, Stocks, Commodities, Indices

Minimum Deposit

$100

AvaTrade

Broker

Alt text

Regulation

FCA, ASIC, CFTC

Instruments

Forex, CFDs, Cryptos, Stocks, Indices, Commodities

Minimum Deposit

$250

IG

Broker

Alt text

Regulation

FCA, CIMA

Instruments

Forex, CFDs, Indices, Commodities

Minimum Deposit

$500

Vantage Markets

Broker

Alt text

Regulation

FCA, KNF, IFSC

Instruments

Forex, CFDs, Indices, Commodities

Minimum Deposit

$0 - $250

XTB

Broker

ActivTrades

Regulation

FCA, DFSA

Instruments

Forex, CFDs, Indices, Commodities

Minimum Deposit

$100

ActivTrades

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of IG retail investor accounts lose money when trading spread bets and CFDs with IG. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Best Brokers for MetaTrader 4 – Reviews (June 2024)

1. Pepperstone – Best MT4 Broker (UK) With No Minimum Deposit

Pros

  • Great customer service
  • Low trading fees
  • Free deposits and withdrawals

Cons

  • No investor protection outside the EU/UK
  • Basic news information
  • Limited trading streams

Minimum deposit: £0
Regulators: FCA, CySEC, BAFIN, ASIC, CMA, DSFA, SCB
Multi-platform: Yes

Pepperstone one of the best brokers for MT4 , founded in Melbourne in 2010, has harnessed the power of MetaTrader 4 to provide traders with unparalleled opportunities and support.

With a global presence spanning multiple offices, Pepperstone has garnered a reputation for its commendable multi-lingual customer support, available 24/5. This commitment to service aligns seamlessly with the ethos of MetaTrader 4 – a platform renowned for its user-friendly interface and powerful functionalities.

Boasting regulatory approval in various jurisdictions, Pepperstone prioritizes the safety of client funds by segregating them in Tier 1 banks. The broker's affiliation with MetaTrader 4 signifies a commitment to innovation and excellence, with a user base exceeding 300,000 individuals.

In the realm of trading instruments, Pepperstone's integration with MetaTrader 4 unlocks access to over 1,200 options across forex, indices, gold and US shares.

This diversity caters not only to seasoned traders but also offers an exceptional learning environment for beginners. By leveraging the educational resources and tools provided by Pepperstone, newcomers can navigate the complexities of the market with confidence.

Visit Pepperstone – Best MT4 Broker (UK) With No Minimum Deposit

75.2% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

2. AvaTrade – Best Broker for MetaTrader 4 Regulated Worldwide

Pros

  • Worldwide regulated
  • Multiple platforms – MT4, MT5, etc.
  • Negative balance protection
  • 20% welcome bonus
  • Educational content
  • Wide rage of payments methods
  • Fixed spreads

Cons

  • You can’t buy stocks
  • Quarterly and annual inactivity fees
  • Custumer support is not available 24/7
  • No bonus for EU based clients
  • No US clients accepted
  • Imitated crypto assets

In the realm of the best brokers for MT4, AvaTrade emerges as a prominent and regulated player. Since its inception in 2006, AvaTrade has consistently offered a wide range of trading solutions across diverse financial instruments.

Operating as a regulated CFD broker, AvaTrade provides access to a remarkable selection of over 1,000 financial instruments, supported by a variety of advanced trading platforms. This commitment to providing traders with versatile options aligns well with the ethos of MetaTrader 4.

AvaTrade's offerings go beyond instrument variety. New traders are welcomed with an enticing 20% bonus, capped at $10,000 in accordance with regulatory standards. The broker also provides a complimentary 21-day demo account, funded with a virtual $100,000, enabling traders to explore and practice in a risk-free environment.

The extensive list of tradable instruments covers a wide range of asset classes:

  • Precious Metals
  • Commodities
  • Stocks
  • FX Options
  • Oil
  • ETFs
  • Options
  • Cryptocurrencies
  • CFDs
  • Indexes
  • Shares
  • Spread Betting
  • Indices
  • Forex
  • Bonds

AvaTrade has secured regulatory approvals from several notable authorities. AvaTrade EU Ltd operates under the regulatory oversight of the Central Bank of Ireland (No. C53877), while Ava Trade Markets Ltd. operates within the framework provided by the B.V.I Financial Services Commission. Additionally, AvaTrade maintains a robust regulatory presence in Australia, South Africa, Japan, the Middle East, Cyprus and Israel.

However, it's important to note that AvaTrade's services are not available to traders in the United States, North Korea, New Zealand, Iran or Belgium.

In terms of financial accessibility, AvaTrade ensures an accessible entry point with a minimum deposit requirement of $100. Furthermore, the absence of withdrawal limits and fees contributes to a trader-friendly environment, facilitating smooth transactions.

As the realm of MetaTrader 4 brokers continues to evolve, AvaTrade's diverse offerings, commitment to regulation, and user-friendly features position it as a noteworthy choice for traders seeking to engage with the MetaTrader 4 platform.

Visit AvaTrade – Best Broker for MetaTrader 4 Regulated Worldwide

3. IG – Top Broker With MetaTrader 4 Demo Account

Pros

  • Regulation and trustworthiness
  • Diverse asset selection
  • User-friendly platform
  • Educational resources
  • Demo account

Cons

  • Spreads and fees
  • Limited MT4 features
  • Customer support
  • Leverage restrictions
  • Platform compatibility

In the realm of MetaTrader 4, a pioneering name that stands out is IG. Established as the trailblazer of spread betting back in 1974, IG has evolved into the world's premier online trading provider, earning the trust of traders globally as their preferred platform for managing investments.

Elevating the trading experience, IG boasts authorization and regulation by the Financial Conduct Authority (FCA), instilling a sense of security and reliability.

With a staggering portfolio of over 18,000 markets, IG empowers traders with unparalleled access to a multitude of trading opportunities. Notably, IG leads the industry with an unmatched array of 24-hour indices and extended trading hours for more than 70 key US stocks.

For those inclined towards possessing underlying assets, IG's offerings extend further. Access to over 13,000 global shares and ETFs is at the trader's fingertips, alongside the enticing option of entrusting their portfolio to the expertise of IG's skilled professionals.

Benefits:

  • Advanced Platform and Charting – IG's arsenal includes advanced platforms like L2 Dealer, ProRealTime, and the renowned MetaTrader 4. These tools amplify traders' capabilities, enabling sophisticated charting and analysis.
  • Demo Account – IG acknowledges the importance of practice. A demo account offers a risk-free environment for traders to hone their strategies and test their skills.
  • Extended Trading Hours – IG redefines trading convenience by extending trading hours, allowing traders to capitalize on market opportunities beyond the standard window.
  • Wide Range of Products – From indices to stocks and more, IG's extensive array of products caters to diverse trading preferences.
  • Expert Analysis and Education – Traders benefit from daily expert analysis and an array of educational resources, empowering them with valuable insights to make informed decisions.
  • Round-the-Clock Support – IG's commitment is unwavering, reflected in their round-the-clock customer service, ensuring traders are never alone in their journey.
  • Negative Balance Protection – Retail clients are offered negative balance protection, safeguarding against losses exceeding the initial investment.

As substantiated by published financial statements as of October 2022, IG secures its position as a global leader based on revenue. It's important to note that IG's market accessibility operates 24/7, with the exception of the interval from 10 p.m. Friday to 8 a.m. Saturday (UK time), and a brief pause just before the Sunday night market opens.

However, it's crucial to approach trading with awareness. Capital is at risk, as spread bets and CFDs are intricate instruments with the potential for rapid loss due to leverage. A significant 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. Traders must consider their understanding of these instruments and their financial capacity to tolerate the inherent risks.

In the world of MetaTrader 4, IG emerges as a dominant force, combining cutting-edge platforms, diverse offerings and a commitment to supporting traders on their journey, while also underscoring the necessity of prudent risk management.

Visit IG – Top Broker With MetaTrader 4 Demo Account

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of IG retail investor accounts lose money when trading spread bets and CFDs with IG. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

4. Vantage Markets – One of the Best MT4 Brokers With Low Fees

Pros

  • Regulated by FCA, ASIC and VFSC
  • Low Forex Fees
  • No Inactivity Fee
  • No Withdrawal or Deposit Fee
  • Good MetaTrader Add-ons
  • Social Trading

Cons

  • Not Available to US Clients
  • CFD trading carries risk
  • $50 is needed to start trading

Vantage Markets was founded in 2008 to be a transparent forex broker and has grown to include 40+ forex pairs and over 1000 different assets including EFTs.

As a broker, Vantage Markets is well-regarded and considered safe and one of the best brokers for MT4 thanks to regulation by ASIC, FCA and VFSC.

Vantage Markets offers access to the markets through the popular MT4 and MT5 platforms, and a feature-stuffed mobile app.

There are three account types:

  • Standard STP. Perfect for novices, this is a commission-free account that works across all trading instruments, with a minimum spread of 1.0 pips. The minimum deposit is $50.
  • Raw ECN. Designed for more experienced traders, this account charges commission at $3 per lot per side but the low spreads start at 0.0 pips. The minimum deposit is $500.
  • Pro ECN. This is for professional, high volume traders, and offers commission at $1.5 per lot per side, with spreads from 0.0 pips. The minimum deposit is $20,000.

Vantage Markets is seen as a good, reliable broker that offers social and copy trading – without being prohibitively expensive in terms of non-trading costs or commission.

Trading on MT4 with Vantage Markets is simple and easy.

The interface is almost entirely customisable – you can change the layout, size and position of tabs and charts, with access to all basic order types available on both the desktop platform and the WebTrader application.

Vantage Markets offers fast execution of trades on MT4, making it suitable for use with EAs and other algorithmic trading robots (automated trading).

Vantage Markets is also integrated with the MT4 mobile trading app for iOS and Android too so you can place trades wherever you are.

Visit Vantage Markets – One of the Best MT4 Brokers With Low Fees

Trading Forex and CFDs involves significant risk of losing of your invested capital and is not suitable for all investors. 64.86% of retail investor accounts lose money when trading CFDs with this provider. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

5. XTB – Leading MetaTrader Broker With Various Trading Options

Pros

  • Low forex fees
  • Easy account opening
  • Free deposit and withdrawal

Cons

  • High CFD fees
  • Limited historical and fundamental data

Minimum deposit: £0
Regulators: FCA, KNF, CySEC, IFSEC
Multi-platform: Yes

XTB proudly asserts its stature as one of the globe's most substantial stock exchange-listed brokers and one of the best brokers for MT4.

Harnessing over a decade and a half of trading prowess, XTB stands as a testament to experience. The broker's journey has been marked by a relentless commitment to offering unparalleled customer support and comprehensive education to traders navigating the complexities of the financial markets.

Diversity is the cornerstone of XTB's offerings. With a versatile array of trading options at your fingertips, XTB empowers traders to explore various avenues:

  • Forex – The foreign exchange market beckons, with its potential for profitable currency trading.
  • Indices – Dabble in indices, capturing the pulse of diverse markets and leveraging opportunities.
  • Commodities – Navigate the tangible world of commodities, encompassing precious metals, energy resources, and agricultural products.
  • Stocks – Dive into the realm of stocks, gaining access to the equity markets and their diverse offerings.
  • ETFs – Unlock the potential of exchange-traded funds, offering a diversified and convenient investment approach.
  • CFDs – Contract for Difference (CFD) trading bridges diverse assets, enabling traders to speculate on price movements without owning the underlying asset.
  • Cryptocurrencies – Embrace the revolutionary world of digital currencies, including the iconic Bitcoin, and harness the potential of cryptocurrencies in your portfolio.

XTB's commitment extends beyond mere offerings, as it dedicates itself to cultivating a conducive learning environment for traders of all levels. This comprehensive approach is a testament to their belief in the power of knowledge, equipping traders with the tools needed to navigate the markets effectively.

As the journey within MetaTrader 4 unfolds, XTB stands as a beacon of innovation and opportunity. With a vast range of trading options and a deep well of expertise, it is a name that echoes through the corridors of trading history.

Visit XTB – Leading MetaTrader Broker With Various Trading Options

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

6. ActivTrades – Forex MT4 Broker With Optimal Trading Execution

Pros

  • No minimum first-time deposit
  • Optimal trading execution
  • More than 1,000 CFDs
  • State-of-the-art trading infrastructure
  • Customer support on 14 languages via email, chat and telephone

Cons

  • No copy trading
  • Not available for US clients
  • No bonus for EU based clients

ActivTrades is a traditional CFD broker and has been trading for more than 20 years on 140 markets. ActivTrades is authorized and regulated by the FCA, CSSF and SCB.

Its strong points include:

  • No minimum first-time deposit
  • No commissions
  • Several payment methods for deposits and withdrawals
  • Tight spreads from 0.5 pips

It offers one of the best execution speeds in the industry with low latency below 0.004s.

It utilizes the most advanced technology to improve users' trading efficiency – users can automate trades, build integrations and create trading apps using ActivTrades' market-leading CFD and spread betting technology.

Exceptional trading infrastructure is available on ActivTrader and MetaTrader 4 and 5.

ActivTrades invests deeply in specially developed educational materials for its clients – including webinars, regular outlooks, manuals, etc.

Type of offers: ActivTrades focuses on well-developed products in its trading portfolio. Customers can choose from over 1,000 CFD or spread betting instruments across forex, indices, shares, commodities, financials and ETFs.

It also offers investing solutions for its institutional partners.

Spread betting allows UK residents ONLY to trade the prices of financial instruments, including forex, indices, commodities and LSE shares.

Visit ActivTrades – Forex MT4 Broker With Optimal Trading Execution

Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread betting and CFDs work and whether you can afford to take the high risk of losing your money.

Best MT4 brokers in 2024
Best MT4 brokers in 2024

What Is MT4 (MetaTrader 4)?

MetaTrader is a popular online trading platform offering flexible trading systems including forex (foreign exchange), CFDs, commodities and stocks.

When you are considering the best forex broker for beginners in the UK, choosing a popular trading platform makes it easier to access the markets.

Designed by MetaQuotes in 2005, MetaTrader 4 (MT4) offers a simple user interface combined with advanced technical analysis that is most often associated with forex trading.

MetaTrader 4 remains popular as it is straightforward to use – even for beginners – and allows a high level of customisation including third-party scripts and expert advisors.

MetaQuotes created a proprietary scripting language (MQL4/5) which is used to help support algorithmic trading – the ability to automatically trade using predetermined parameters – as well as a standalone system that brokers can use to manually manage trades.

The multi-platform capabilities also allow users to work on PC, Mac, iPhone and Android.

MetaTrader 4 offers the highest security standards, including encrypted data exchanges between the client terminal and platform servers, and support of RSA digital signatures (a form of public-key cryptosystem).

MetaTrader 4 is considered the gold standard among trading platforms. Even though an updated version (MetaTrader 5) is now available, MT4 is the preference for both experienced and beginner traders.

Why Should I Use the MT4 Trading Platform?

The MT4 trading platform is perfect for beginners because of its multi-functional trading abilities and technologies that allow for additional services like expert advisors.

Alongside the technological ease of use, there are thousands of tutorials and lots of information available, including open-source software, making it simple for the beginner to get started in trading.

The platform’s interface is easy to read and understand.

The main reason that MT4 is the perfect platform for the beginner trader is that almost every major forex broker provides it as part of their offering.

MT4 vs MT5 – What Is the Difference?

MetaTrader 5 (MT5) is an updated version of the trading platform, so it may seem strange that it is less popular than MT4.

The difference between MT4 and MT5 is mainly aimed at more experienced traders who are interested in additional features.

MT4 is a 32-bit mono-threaded system, whereas MT5 is 64-bit multi-threaded and uses multiple servers for resource optimisation. A separate server for access, trade, history and backup makes MT5 more versatile.

MT5 allows traders to trade in both centralised and non-centralised markets like stocks and futures as well as forex, while MT4 does not. The embedded chat function could be useful for experienced traders to discuss strategy.

Having access to the history of trades means that backtesting becomes simpler. In MT5 you can see the real volume of lots that have been traded, rather than the number of changes (tick volume), and then you can download the tick history for backtesting.

How to Choose the Best Brokers for MT4 in 2024

Almost all brokers offer MetaTrader 4, so how do you choose the right one for you?

Although we have rounded up some of the best brokers for MT4 below, your choice should be based on the specific benefits they can offer you.

There are a few things that should inform your decision:

Step 1. Security

There are two security factors that you need to be sure of with your chosen best broker for MT4:

  • Make sure they offer the right level of encryption and online security.

  • To protect your money, it is important that your chosen broker is regulated by agencies throughout the world. These might include the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) and the National Futures Association (NFA) in the US. Credible brokers will be regulated by one or more of these agencies.

Step 2. Transaction Costs

Brokers need to make money from your business, and they do this in several ways:

  • Some charge commission
  • Some have a transaction cost
  • Others charge you for withdrawing

Although it might seem prudent to choose the cheapest, you may find that the low-cost options might be lacking in other departments like security or what solutions they can offer.

Try and find a brokerage with a good balance of costs and features from our list of the best brokers for MT4.

Step 3. Ease of Deposits and Withdrawals

When you are making trades, you want to be able to get money in and out of your account simply – and without crippling fees or wait times.

In some cases, there might be a long wait, a charge or a minimum balance for withdrawals, so it is always wise to check that the broker makes it easy for you to access your money.

The same goes for deposits – look for brokers that accept deposits in multiple ways (card, bank transfer, etc.) for ease.

Step 4. Trading Platform

While MT4 is the perfect trading platform for beginner and expert traders alike, there are other platforms available, including proprietary platforms created by the brokers themselves.

The option to trade on other platforms as well as MT4 gives extra flexibility. Choose the best brokers for MT4 that best suits your needs.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Step 5. MetaTrader 4 Demo Accounts and Learning Opportunities

For forex traders new to trading, it’s important to have access to educational material about making trades, terminology and what to expect.

Some of the best brokers for MT4 offer an extensive collection of educational materials like seminars, tutorials or how-to guides – and some even offer one-to-one tuition.

Pair education with a demo account to try out new methods without risking your capital, learning as you go.

Step 6. Fast Execution

When making trades, you want to get the best price straight away. Any delay could be the difference between a winning trade – and a loss.

This can be mitigated by offering multi-platform options so that you can make trades wherever you are, or by offering a VPS (virtual private server) service for areas with a poor internet connection.

Step 7. Customer Service

Even as an experienced trader, there will be times when you will need extra support. Finding the best brokers for MT4 that offers excellent after-sales attention is important.

For the best experience, look for 24/5 customer service in both account and technical support issues. Some providers also offer multi-lingual support.

How to Change MT4 Brokers

When you have set up a MetaTrader 4 account, you will have created all your trading parameters to be just right for you – and you might think that you are stuck with your current broker, which can be an issue if you want to make a change.

It is possible to maintain your MT4 account and move brokers; all you need to do is make sure that the new broker you want to use offers MT4 as a trading platform and contact the customer service team to make the move for you.

That way you can keep all your tools and settings, without having to start again.

How Does MT4 Work?

The MetaTrader system is built with several distinct sides.

The administrator and data centre is managed by MetaTrader themselves. This is the connection to the markets and all the important trading details that make using MT4 simple and fast.

The server side is maintained by the broker, which is why you need to be connected to a broker to use the MetaTrader suite. The broker provides you as a client with a terminal to use all the MT4 functionality.

The client component is the area that you as a customer will see; this is the place where all your research tools are, your trades are made, and the place where you can interact with the markets.

As part of the MetaTrader software, the proprietary programming language is available to you so that you can build your own robots and custom scripts.

You can also download these from the user-contributed library of free software add-ons.

From indicators that analyze price movements to expert advisors automating trading strategies, MT4 provides an extensive toolkit for traders of all levels.

The following are some of the most popular MT4 tools that cater to different aspects of technical analysis, risk management, and automated trading.

Indicators

  • Moving Averages: Smooth price data to create a single flowing line, aiding trend identification.
  • Bollinger Bands: Helps identify volatility and potential trend reversals by analyzing price volatility.
  • Relative Strength Index (RSI): Measures the speed and change of price movements, indicating overbought or oversold conditions.
  • Moving Average Convergence Divergence (MACD): Highlights changes in strength, direction, momentum, and duration of a trend.

Expert Advisors (EAs)

  • Automated trading scripts that execute buy/sell orders based on predefined criteria.
  • Customizable to adhere to specific trading strategies.

Scripts

  • Single-execution commands that automate specific trading actions.
  • Time-saving tools for tasks like closing all open positions.

Custom Chart Tools

  • Drawing tools for technical analysis, including trendlines, channels, and Fibonacci retracements.
  • Customizable shapes and annotations for enhanced chart analysis.

Risk Management Tools

  • Position size calculators to determine the appropriate amount to invest.
  • Tools for setting stop-loss and take-profit levels to manage risk.

Trade Panels

  • Quick order execution tools for faster trading.
  • One-click trading options for swift response to market changes.

Market Sentiment Indicators

  • Gauges of market sentiment, helping traders understand the prevailing mood.
  • Supports decision-making based on the overall sentiment of the market.

Backtesting Tools

  • Allows traders to test their strategies on historical market data.
  • Provides insights into how a strategy would have performed in the past.

News Feed Integration

  • Real-time news updates within the trading platform.
  • Enables traders to react promptly to market-moving events.

Pattern Recognition Tools

  • Automatically identifies chart patterns like head and shoulders, triangles, etc.
  • Aids in trend analysis and decision-making based on recognized patterns.

Frequently Asked Questions

No. MetaTrader 4 is a platform that brokers use to perform trades.

Once you have downloaded the MetaTrader 4 platform, you will need to join it with your chosen best brokers for MT4 and transfer funds to your account. You will then be able to trade on markets, monitor your investments and analyze market data.

To withdraw money from the platform, simply go to your account and select ‘withdraw’. You will then be able to withdraw your funds to the bank account you have allocated.

Yes, you can connect to Olymp Trade on MT4.

It depends on the type of trading you are hoping to do. MT4 tends to be more suited to individuals who trade on the Forex markets.

The two things are different. MetaTrader 4 isn’t a broker, it is a platform that brokers use to buy, sell and make trades.

MetaTrader 4 is a platform that you link to your chosen best broker for MT4 to trade. In effect, the platform itself doesn’t use money, but the broker does. If you want to get to grips with trading without losing money, then the best thing to do is to use a demo account.

Once you have downloaded MetaTrader 4, you simply need to sync it with your chosen best brokers for MT4 and transfer funds. Then you will be able to begin trading.

No. You can’t make any real trades unless you have a live account with a broker.

MetaTrader 4 is the software that is used to perform trades, it isn’t a broker. The deposit is required by the broker, not the software.

There are several indicators to choose from including:

  • MACD
  • On-Balance Volume
  • CCI

There is no cost for downloading or using MetaTrader 4 software. Fees are, instead, charged by the broker.

MetaTrader 4 is available for use in the UK, and many of the best brokers for MT4 offer UK users MT4 as an option for web trading, desktop trading, and even mobile trading.

The best brokers for MT4 users will depend on what you are looking at in a broker – some are better for more experienced traders, while others are best for new users.

The MT4 forex brokers that are more suitable for a new trader will have lots of education materials available like tutorials. More experienced brokers will want to look for different research materials like charting and tighter spreads for bigger trades.

The best brokers for MT4 in the UK is dependent on what you are looking for in a broker. Most will offer access to different trading instruments and the use of systems like MetaTrader 4 or even MT5, but there are defining details that set the brokers apart. Some of the things that you might want to look out for include:

  • Is the broker well regulated? Regulated brokers are more trustworthy and a better choice for your finances
  • Minimum deposit, withdrawal costs and limits, and whether there are any other non-trading costs
  • Types of trading instruments offered (forex, cryptocurrencies, CFDs, etc.)
  • Availability of educational materials (like tutorials or a demo account)
  • Trading costs – is there a commission charge or is the cost of the trade built into the spread? Are there benefits for trading larger numbers?
  • Access – do you need to use a desktop computer or a laptop to make trades, or is the mobile app well crafted and easy to navigate?

MetaTrader 5 was created to be the bigger, better, and faster version of MetaTrader – but for most users, the functionality of MetaTrader 4 is preferred.

MetaTrader 5 offers broader options for trading (including stocks and CFDs), whereas MT4 is primarily aimed at forex trading.

MT5 is faster and has more options for trading, but MT4 is familiar and simple, and so it remains the most popular choice for most traders.

The best MT4 broker in the UK is the one that offers the best selection of trading instruments, offers simple and straightforward access to the markets, and makes trading easy.

They also need to be able to provide research and education resources, and not charge too much for trades and in non-trading fees. The best MT4 broker in the UK really is a personal choice based on the circumstances of the user.

Yes, MetaTrader 4 (MT4) is a legitimate and widely used trading platform in the financial industry. However, it's essential to ensure that you download MT4 from the official website of your chosen broker to guarantee authenticity and security. Always choose brokers with regulatory compliance to provide a safe and legitimate trading environment.

Final Thoughts

MetaTrader 4 is the platform of choice for traders – whether you’re just entering the world of forex or are an experienced trader.

The popular online forex trading platform still outperforms its successor (MT5) because it is simple and easy to use.

The highly customisable Windows-based application works well with third-party scripts and expert advisors to create a personalised algorithmic trading experience.

When it comes to choosing the best brokers for MT4, the choice is more personal as so many brokers use the platform. When deciding on the right broker for you, consider how secure they are, how much it will cost to use them and how much the broker themselves can support you to become a better trader.

Looking into the security and regulation of the broker will give you confidence that they are trustworthy. You may be looking for a low-cost broker, but the cheapest may not be the most appropriate for your needs.

Choose the best brokers for MT4 for you to make the most of your trading experience on MetaTrader 4.

WikiJob does not provide tax, investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal capital.

75.2% of retail investor accounts lose money when trading spread bets and CFDs with this provider.


Read This Next

You might also be interested in these other Wikijob articles:

Or explore the Trading / Forex sections.