The most famous and popular platform for traders is MetaTrader 4 (MT4). It has been operating since 2005 but remains widely used in all countries. This was made possible thanks to a simple interface, compatibility with different operating systems, and increased operations security. The popularity of the platform attracts many forex brokers. They offer full integration, making it possible for traders to conduct any trades through the application. To choose brokers for MetaTrader 4, you need to study each offer in detail and conduct a comparative analysis of them.
Top 5 brokers for MT4
Among the many MetaTrader 4 brokers, several companies perform their work with the highest quality. This makes them popular in different countries and allows you to expand your customer base. For beginners and experienced traders, experts recommend choosing one of the top 5 brokers.
Best brokers for MT4:
- AvaTrade. This broker is a leader in many indicators. It has dozens of offices in different parts of the world and boasts 200,000 customers. AvaTrade develops its platforms, but simultaneously, it will continue cooperating with MetaTrader 4. The main advantage of the broker is simplicity. It is visible in everything from opening an account to withdrawing earned money (it is carried out without commissions, a rare occurrence). AvaTrade treats all clients with respect. It has a quality support service in different languages and helps beginner traders to progress. The only negative is the commission charged from the client in the event of a long absence of any action on his part.
- FX Pro. A competent marketing company has made FxPro one of the most famous brokers for MT4. It offers its clients various trading options ranging from multiple currencies to energy carriers. Also, traders are attracted by the relatively small size of the required deposit and the high speed of any transactions. An additional advantage is the availability of high-quality customer support. FxPro has only one drawback. He cannot boast of the stable operation of his site. The broker has been dealing with this problem for a long time, but no significant changes have been observed yet.
- 3. ETX Capital. This popular broker has an unblemished reputation and extensive experience. This is what attracts the attention of traders who are accustomed to the MT4 platform. In addition, ETX Capital boasts the transparency of all transactions and a variety of ways to deposit/withdraw funds. Another positive point is the access of customers to educational videos. This allows beginners to improve their skills and gain new knowledge. The disadvantage of ETX Capital is the inflated commissions that affect any ongoing trading operations.
- FP Markets. This company, headquartered in Sydney, Australia, has been operating since 2005. During this time, she managed to collect many awards and earn the trust of traders. FP Markets provides access to many trading tools and offers quality educational videos for beginners. Another significant advantage is the attentive attitude of each trader. The disadvantages of FP Markets are inflated commissions and an outdated website interface.
- Pepperstone. This broker has rightfully entered the top 5. It is not as well known as FxPro and AvaTrade, but all its activities are by the regulatory principles in force in Europe. Pepperstone is integrated into MT4. This makes working with a broker as simple and convenient as possible. Among other positive aspects, experts note the absence of a commission for depositing and withdrawing money, the excellent work of the support service, and a large selection of trading assets. The primary and only drawback is the overestimated amount of the minimum deposit.
Features of choosing a broker for MetaTrader 4
Many brokers allow trading via MT4. Because of this, it is pretty tricky for inexperienced traders to make the right choice. As a result, they stop at a particular option, which is not always the best solution. To prevent this, you must select a broker according to 5 critical criteria.
Criteria for choosing a broker:
- Availability of a license. MT4 is the most accessible platform for brokers. They are not always honest, so traders need to check the request carefully. It is issued only to accredited companies, which minimizes client risks. Such accreditation must be issued by regulators CFTC, NFA, FCA, CySEC, FSA, and ASIC, which are valued worldwide. Any other options should not be considered.
- Financial costs. Cooperation with any broker involves the payment of various commissions and fees. Due to high competition and the desire to attract more traders, these economic losses are constantly decreasing. In some cases, they even become zero. When choosing a broker, be sure to consider these features and try to avoid unnecessary overpayments.
- Access to copy transactions. Copy trades are a famous avenue to help beginners make their first profits and avoid excessive financial losses. Therefore, when choosing a broker, it is imperative to find out about the availability of such operations and the features of their implementation. Experienced traders can only consider options without access to copy trades.
- Additional features. They help to distinguish one broker from another. The more various add-ons are offered to the trader, the better. Among the bonus features, the most common is access to analytical data from the broker, valuable recommendations, and educational and special trading tools.
- The quality of the support service. While working with MetaTrader 4, various questions may arise, and you need to get answers to them as soon as possible. To do this, each broker provides clients access to their support service. Ideally, she should work around the clock and explain the most difficult moments in accessible words.
MT4 is the top platform that every trader knows. Many forex brokers are integrated into it, which makes it possible to choose the best option depending on your personal needs and preferences. In order not to be mistaken, it is better to give priority to the most famous brokers. They stand out from the competition and open up unlimited opportunities for traders. If you make the right choice, you can simplify trading operations as much as possible and achieve the desired results.