Top 10 MT4 Forex Brokers

Top 10 MT4 Forex Brokers: Find An MT4 CFD Broker Here

MetaTrader 4 (MT4) is an online trading platform which allows trading using analysis to work out how to enter, manage and exit a trade and with automation where a robots perform these tasks. It is offered by a relatively wide range of brokers and this page lists 10 with indicative scores and discusses their respective features. There are some concepts which are helpful to understand, so this pages seeks to introduce some pertinent to MT4 Forex trading.

Forex is a complex market and is perhaps not so familiar as some markets. Forex is traded as Forex pairs, which are one currency valued against another. Forex pairs typically have a different value depending on whether they are being bought or sold. This difference is called the spread.

Forex brokers may offer Forex pair spreads either with or without a commission charge, though some have both types of accounts. Spreads with a commission charge can be very low, sometimes down to 0 pips, but a commission charge is typically added. Spreads without a commission charge can be higher, though variable spreads may be quite tight at some brokers. Some brokers may offer fixed Forex spreads. The lowest spreads will tend to be for the most liquid Forex pairs

Since Forex pairs are relative valuations, they trace out complex moves on a chart, as changes in the market affect one or both sides of the pair. So even if a Forex pair is increasing in value, it may retrace, sometimes deeply in the opposite direction. This is why Stop-Losses and Take-Profits can be important. This is also why a demo account can be a good way to try and understand how this market is complex and the myriad approaches to trade it which have been developed.

The trader may be interested in knowing how to get MT4 and the following infographic outlines typical steps required. TL;DR: Sign-up (either demo or live) and download it from the broker. It is possible to create a demo account through the MetaTrader platform, but for a live account the trader will need to go through the sign-up process with their selected broker. So if the trader signs-up via the broker they can choose either a demo or live account, or both.

How to get MT4 and what has MT4 to offer infographic

Top 10 List

Following is a top 10 list of CFD brokers offering MT4 trading. The methodology used is a 6 part score covering characteristics of MT4, which helps rank them. This is just an indicative score and the trader should try out a CFD provider for themselves and see which suits them. Additionally, this score is for MT4 only and the broker may focus more on other platforms.

It needs to be borne in mind that MT4 is not the current release, but it is still popular and offered by many brokers. The current release in MT5, which offers a number of enhancements on MT4 including the capacity to offer many more markets. While 200-300 is typical for MT4, at some brokers MT4 can offer 1000s and it is marketed as a multi-asset platform.

1 IC Markets

  • Minimum deposit: $200
  • Online trading platforms: MT4, MT5, cTrader
  • Average Forex spreads from 0.1 pips
  • FXFinds MT4 Score: 9.1

IC Markets provides MT4 and provides rapid order processing and spreads from 0, plus commission (with average spreads from 0.1 pips). IC Markets offers a trading environment for scalpers, MT4 automated traders and high frequency traders. Traders can run EA (MT4's online trading robots) and try their strategies, from a minimum deposit of $200. IC Markets also provides social and copy trading platform including Myfxbook AutoTrade, which connects with the trader's MT4 account.

2 Pepperstone

  • Minimum deposit: $200
  • Online trading platforms: MT4, MT5, cTrader, TradingView
  • MT4 Forex spreads from 0, plus commission
  • FXFinds MT4 Score: 9

Pepperstone is a Forex broker which has tended to focus on one part of Forex trading, that is automated trading and styles which may or may not be automated, such as scalping, but which may depend to some extent at least on high speed, no dealing desk intervention accounts. This it provides, and can offer spreads from 0, plus a competitive commission charge.

If a trader does not want to apply automated Forex trading, can they use Pepperstone. This is entirely possible, and Pepperstone offers a wide range of platform including TradingView. This said MT4 can be used by non-automated traders, for example those who trade Forex using technical or fundamental analysis, and indeed extra indicators can be downloaded, normally for a fee. Additionally if the trader wishes to learn MQL4, they can build their own indicators or robots for free.

Social and copy trading is an approach used by traders who want to inform their own trading decisions with the ideas of others or to copy their trades or strategies. Pepperstone offers social and copy trading platforms, including DupliTrade, which connects with MT4.

3 easyMarkets

  • Minimum deposit: $25
  • Online trading platforms: MT4, MT5, Web Trader, Trading View
  • Offers fixed spreads on MT4 from 0.7 pips with no commission charge
  • FXFinds MT4 Score: 8.9

easyMarkets offers MT4 Forex trading with fixed spreads from 0.7 pips. and allows EAs. Fixed spreads differ from variable spreads in that they stay fixed and tend to be higher then variable spreads, but there is no commission charge. However, variable spreads are available on MT5, down to 0.3 pips also without a commission charge.

Fixed spreads vs variable spreads is a trading topic, and depends on whether the trader wishes to know what the spreads will be (fixed) or will trade with variable spreads (bearing in mind that variable spreads can change sometimes rapidly).

4 Dukascopy

  • Minimum deposit: $1000
  • Online trading platforms: MT4, MT5, JForex
  • All trading strategies allowed
  • FXFinds MT4 Score: 8.8

Dukascopy Bank is Swiss regulated and offers trading on MT4, along with MT5 and JForex. MT4 has a wide range of markets to trade. Traders can use EAs on this platform and access the SWFX ECN, operated by Dukascopy Bank.

5 BlackBull

  • Minimum deposit: None
  • Online trading platforms: MT4, MT5, cTrader, TradingView, BlackBull Invest
  • High speed order processing
  • FXFinds MT4 Score: 8.8

BlackBull does not have a minimum deposit requirement for its ECN Standard account, which has spreads without a commission charge. Traders who want spreads from 0, plus a commission charge can try the ECN Prime account, which has a $2000 minimum deposit. BlackBull utilises Equinix NY4 and LD 4 servers for high speed order transmission.

6 RoboForex

  • Minimum deposit: $10
  • Online trading platforms: MT4, MT5, R StocksTrader
  • MT4 Cent account with low minimum deposit
  • FXFinds MT4 Score: 8.7

RoboForex has has a Cent account for MT4 as well as an ECN account, both with a minimum deposit of $10. On the Cent account (called ProCent), RoboForex can offer very low trade size. The Cent account can be useful as a way to move from a demo account to a live account, but trading with smaller sums. The ECN account can offers Forex spreads from 0 pips, plus a commission charge.

The ProCent and Pro accounts (both with a minimum deposit of $10 or €10) can offer Forex spreads from 1.3 pips, without a commission charge. There is also a Prime account with spreads from 0, plus commission but RoboForex says that the ECN account has the highest speed or order execution.

MT4 is offered on all these account types, so with RoboForex, the trader gets a wide choice of account types for trading on this platform. R StocksTrader is a separate account for trading a wide range of CFD markets (so the most markets to trade on on this platform, by far).

7 Vantage

  • Minimum deposit: $50
  • Online trading platforms: MT4, MT5, ProTrader, TradingView
  • $50 minimum deposit
  • FXFinds MT4 Score: 8.6

Vantage offers spreads from 0, plus a $3 commission charge on its RawECN account and spreads from 1, without a commission charge on its Standard STP account. For those who want to deposit a minimum of $10,000, the ProECN account has a commission charge of $1.50. Vantage has a focus on high speed order execution and those using EAs. Vantage offers both MT4 and MT5 and a range of other platforms.

8 AvaTrade

  • Minimum deposit: $100
  • Online trading platforms: MT4, MT5, Web Trader, AvaOptions
  • Guardian Angel risk management
  • FXFinds MT4 Score: 8.5

AvaTrade provides trading on MT4, allowing automated trading with EAs. AvaTrade has a minimum deposit of $100 and offers a wide range of other platforms for Forex traders. AvaTrade offers the Guardian Angel risk management tool for MT4 (and MT5) which provides feedback to trader about their trading. AvaTrade also provides social and copy trading platforms, including DupliTrade and AvaSocial as well as platforms for Futures CFD trading and Options CFD trading.

9 XM

  • Minimum deposit: $5
  • Online trading platforms: MT4, MT5
  • Free VPS offer: T&Cs apply
  • FXFinds MT4 Score: 8.5

XM provides a Micro account for MT4 (i.e. a Cent account) with a very low minimum deposit of $5. The Micro account actually offers Forex trade sizes on MT4 down to 0.0001 standard lots. Cent accounts allow the trader to test out strategies and robots on a live account, with small trade sizes to try and reduce risk. XM also offers accounts for higher volume traders, which have a $5 minimum deposit as well.

XM has a free VPS offer (T&Cs apply), for traders who want to run EAs when disconnected from the broker. A free VPS requires a minimum balance of $5000 and 5 standard round turn lots per month (otherwise there is a $28 monthly fee).


  • Minimum deposit: $15
  • Online trading platforms: MT4, MT5, cTrader
  • $15 minimum deposit
  • FXFinds MT4 Score: 8.5

FXPRIMUS provides trading on MT4 from $15 on its PRIMUSClassic account. FXPRIMUS also has MT4 accounts for higher volume traders, these include the PrimusPRO account with a minimum deposit of $500 and spreads from 0, plus commission.

An MT4 demo account is a way to test out the platforms and to practice trading. Even an experienced trader can take a break from trading and test out ideas. Finally, MT4 has a successor called MT5 and the trader can also test out MT5 on a demo account. MT5 offers a number of improvements on MT4, including more inbuilt technical indicators and a different language for programming EAs and indicators.

MT4 offers features such as support for self-directed trading and automated trading with online trading robots