Your MetaTrader 4 desktop platform is integrated with the MetaTrader 4 mobile application for Android and iOS. Specify your MetaQuotes ID to receive push notifications from launched trading robots and scripts directly to your smartphone

No time for trading? That is not a problem, since MetaTrader 4 can automatically copy deals of other traders. Select your provider, subscribe to a signal and let your terminal copy the provider's trades.


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Almost any trading strategy can be formalized and implemented as an Expert Advisor, so that it automatically does all the work for you. A trading robot can control both trading and analytics freeing you from the routine market analysis.

You will certainly appreciate the functionality of the mobile trading platforms that include the full support for the trading functions, broad analytical capabilities with technical indicators and other graphical objects. Of course, all these features are available from anywhere in the world 24 hours a day.

ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.

Having used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for more than a decade, I wanted to create a comprehensive guide for traders. In this guide, I will break down the best brokers for MetaTrader 4 and MetaTrader 5, and answer the most common questions about the trading platform.

Here is a list of forex brokers that offer MetaTrader 4: Admiral Markets, ACY Securities, AvaTrade, BDSwiss, BlackBull Markets, City Index, CMC Markets, Capital.com, Eightcap Review, Forex.com, FP Markets, FXCM, FxPro, HYCM, HFM, IC Markets, IG, LegacyFX, OANDA, OctaFX, Pepperstone, Saxo Bank, Swissquote, Tickmill, TMGM, TopFX, Trade Nation, Trade 360, Vantage, VT Markets, XM Group, and XTB.

Any broker that offers the MetaTrader 4 (MT4) trading software can be considered an MT4 broker. MetaTrader 4 and MetaTrader 5 (MT5) belong to a suite of trading platforms developed by MetaQuotes Software Corp. for mobile, web, and desktop computers.

A forex broker simply needs a proper license from the developer in order to offer MT4 to you as a customer. However, some forex brokers that offer MT4 may lack proper regulation in the countries in which they operate, thus it is important to only choose trustworthy MT4 brokers. See how we evaluate brokers' trustworthiness.

In addition to offering MetaTrader, some brokers also build their own custom in-house trading platforms. Based on our assessments of over 60 forex brokers, we've found that the best forex brokers also offer proprietary platforms.

Yes, you'll need to open a live trading account with a supporting broker if you want to place real trades within the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms. If you select a broker's server name from the dropdown menu when logging in (this applies to the version of the software downloaded directly from the developer), you can open an account with the broker of your choice and access live rates within MT4 or MT5.

Note: Always choose trustworthy brokers that are properly licensed and regulated to reduce your chances of dealing with a scam MetaTrader 4 broker. Scam brokers of all kinds have only become more sophisticated in recent years; check out my guide to common forex scams to learn more.

Founded in 2000, MetaQuotes Software Corp is the developer of MetaTrader4 (MT4) and MetaTrader5 (MT5) software. The MetaTrader suite, which is licensed by brokers and offered to traders, is one of the most widely-used trading platforms for retail forex and CFDs trading globally.

In addition to CFDs and forex trading, MT5 can support stock trading and futures trading, making it more of a multi-asset platform. MT5 also includes advanced functions like utilizing cloud storage to run strategies and to conduct backtesting. With MT4, backtesting must be done locally or through a virtual private server (VPS).

While it looks and feels similar to MT4, MT5 is a faster, more modern trading platform. Check out our MetaTrader 5 guide to learn about the platform's advanced features and to get a behind-the-scenes look at mobile, web, and desktop versions of the platform.

Though MT4 is still more widely used, the number of MT5 servers recently surpassed the number of MT4 servers globally (it took only a decade). This is mainly because more MT4-only brokers continue to launch MT5, offering the full MetaTrader suite, in addition to increasing the range of trading products available on MT5.

MetaTrader 4 is completely free to use, whether you have a demo or live account. That said, you can still incur trading costs charged by your broker (or market-maker) in the form of spreads and commissions when you buy or sell securities such as forex and CFDs.

Forex brokers may offer the MetaTrader 4 and MetaTrader 5 platforms for free, but will still charge fees for trading (regardless of the platform you choose). Whether your broker will charge you a commission, spread, or a combination of such trading costs depends entirely on the broker and its account offering.

PayPal has become a popular method for depositing and withdrawing money from live forex trading accounts, and there are a number of highly rated, well-trusted forex brokers that support the use of PayPal. PayPal also has an extensive international presence and accepts a wide range of global currencies. Learn more about using PayPal by reading our guide to the best PayPal forex brokers.

The signals market available on the MQL5 Community enables users to copy the live trades of approved signal providers. Also known as social copy trading, each signal provider charges a different subscription fee for access.

If you are want to copy forex trades from copy trading signal providers, you'll need to find a reliable forex broker. Check out my guide to the best brokers for copy trading to see my top choices for brokers that offer copy trading, or read my guide to the best trading signal providers.

Yes. Expert Advisors, or EAs, are used in the MT4 and MT5 platforms to run automated trading systems. An EA will either be a modifiable copy of the original .MQ4 file that contains the source code, or it will be an .EX4 (executable) file of the same code, which cannot be modified or tampered with. The latter is often chosen by those who want to distribute their strategies without revealing their source code.

Most EAs have a range of customizable parameters that let users specify the position size and risk/reward-related attributes, among other elements, that may be configured before automated trading is enabled.

Today, MT4 and MT5 have extensive documentation, codebase, and articles to help developers create algorithmic trading systems. The MetaQuotes Language (MQL) syntax enables programmers to create automated scripts and trading systems.

The proprietary MQL language supports custom scripts, utilities, libraries, indicators, and automated trading strategies known as Expert Advisors (EAs). The MetaTrader developer ecosystem continues to evolve each year.

Backtesting, or using historical data to assess how a strategy would have performed in the past, is an important part of assessing the quality of any automated trading system. With MT4 and MT5, backtesting enables traders to see how an EA would have performed over a historical period of time for a requested instrument (like a currency pair, for example).

Yes. Experts, which are automated trading systems in MT4 and MT5, are built by traders and rely on backtesting to prove their profitability. As the famous market adage says, "past performance is not indicative of future results." The problem with automated strategies is that they rely on the benefit of hindsight bias. The reality is that very few trading systems are profitable over the course of an entire year.

IC Markets is our top pick for best MT4 broker overall in 2023. 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.

When using MetaTrader platforms, such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5), there are automated trading systems known as Expert Advisors (EAs), or Experts for short. Experts are not humans. Rather, they are the automated trading systems created by traders to execute a trading strategy.

To sign up for a live forex account or demo trading account with a MetaTrader broker that offers MT4 or MT5, see our list of reviewed brokers above to choose a broker that best suits your overall trading needs.

Now that you've seen our picks for the best forex brokers for MetaTrader, check out the ForexBrokers.com Overall Rankings. We've evaluated over 60 forex brokers, using a testing methodology that's based on 100+ data-driven variables and thousands of data points. Check out our full-length, in-depth forex broker reviews.

At ForexBrokers.com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies (click here to learn about how we calculate Trust Score).

We examine a wide range of features and evaluate forex brokers based on our own data-driven MetaTrader-specific variables. We determine whether the broker offers the full platform suite offered by MetaQuotes Software Corp, and we look for a number of supplementary features that can distinguish MetaTrader broker offerings. Features that our researchers look for include custom Expert Advisors (Experts), the availability of the signals market, the ability to use VPN, number of account types and execution methods, among a host of other data-driven variables.

All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Read our Generative AI policy to learn more. ff782bc1db

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