Edith is an investment writer, trader, and personal finance coach specializing in investments advice around the fintech niche. Her fields of expertise include stocks, commodities, forex, indices, bonds, and cryptocurrency investments. She holds a Masters degree in Economics with years of experience as a banker-cum-investment analyst. She is currently the chief editor, learnbonds.
She also helps her clients identify and take advantage of investment opportunities in the disruptive Fintech world. Skip to content.
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Investing Hub. Home forex brokers mt4 brokers. Best MT4 Brokers Compared in When it comes to Online Forex trading, we all must agree that a broker is only as good as the trading platform on which they operate. Check out our list of the best MT4 brokers in Author: Edith Muthoni. Learn more about MT4 brokers on this page below.
Pros The intuitive MT4 trading platform is available freely and easy to install and interact with There is an unlimited number of guides to help you understand your way around the platform It is highly versatile and available on Smartphones, Tablets, PCs, and laptops running on Windows, Mac, and Linux systems The platform embraces the highly secure bit encryption protocol to secure your accounts and funds The uniformity of trade operations makes changing brokers as seamless as possible The brokers give you access to a myriad of technical trading tools, indicators, and chart options.
Our rating. Highly regulated broker with a global presence Has the backing of a publicly listed company for liquidity and reputation Presents you with free forex charts through eSignal. Apply Now. FXCM —Best for automated trading and analysis tools.
Best US Forex Brokers for |
Our Rating. Limited financial trading products available High minimum opening balance and trading costs make it unappealing to beginner traders. AvaTrade — Best for social trading. Treats clients to low trading costs in the form of ultra-low spreads Avatrade maintain some the highest bonuses and most frequent promotions Supports a wide range of financial trading instruments. The broker has a limited scope and reach of forex research content and news Broker feartures a limited number of research and trading tools. IG Markets — Best for the widest range of tradable products.
Maintains a relatively easy and fast deposit and withdrawal options Maintains one of the largest collection of tradable products — up to 15, Their products and trading strategies suit both beginner and experienced traders. Built on a solid reputation of reliability and affordability Highly regulated by virtually every major financial regulatory agency in the world including NFA and CFTC in the U.
FXPro — Best for transparent trading costs. The most transparent MT4 broker you will come across Presents you with competitive pricing models on different trade execution methods Treats you to a relatively expansive range of financial trading instruments. Brace for a complicated signup process Limited access to research and analysis tools and indicators on the platform. FXTM — Best for multiple account types.
The broker platform is rich in educative content and also features a demo account. FXTM traders benefit from both advanced trading and market analysis tools as well as leverages of up to Opening an FXTM trader account is also easy and relatively straightforward. There is no guarantee you will qualify for the maximum trading leverage. Pepperstone — Best for fast order execution speeds. Offers the full MT4 desktop and mobile to its large client base operating different types of accounts Boasts of some of the fastest order execution speeds Offers such additional services as social copy trading.
Best MT4 Forex Brokers 2021
Offers a limited range of financial trading instruments The MT4 trader compensates for commission-free trades with hiked spreads. Paxforex - Best for U. S Forex traders. Maintains a relatively low minimum deposit Has a live chat feature for instant communication Supports more than just forex trades with its reach extending to CFDs and spot metals.
Pax Forex is a market maker. FX Open — Best for the low minimum initial deposit. FX Open supports social trading and copy trading for inexperienced traders using Zulutrade and Myfxbook platforms. The broker supports several account types and allows hedging and scalping strategies. FX Open features a variety of trading and risk management features — including negative balance protection. FX Open is not open to US traders. Maintains a limited range of tradable financial instruments as it only features forex and CFDs Charges inactivity fees.
Visit FX Open Now. Margin is the money needed in your account to maintain a trade with leverage.
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What is MetaTrader 4? What is the difference between MT4 and MT5 trading platforms? How do I open a MetaTrader 4 account? How do you download the MT4 trader? How much do I need to deposit into my MT4 trading account? Must I use the MT4 trader or are there alternatives? Demo Accounts. Eaglefx Review. Forex Bonus. LCG Review Libertex.
MT4 Brokers. In that sense, it is extraordinarily safe to trade there, perhaps more so than most other brokerage firms. They do offer a nice diversified global marketplace that you can take advantage of correlating and non-correlating assets as there is over 10, markets available. Furthermore, as they are regulated in Australia they do have to adhere to very strict rules. They are also regulated in the EU, so that of course carries its own weight as well.
Australians have trusted this brokerage firm for almost 2 decades, and they have earned the business of thousands through there diligent and trustworthy business practices. It was founded in and has won many awards over the last several years including best mobile trading platform, CFD provider of the year, and the like.
Beyond that, it is considered to be the second-biggest spread betting and CFD provider in the United Kingdom. Not only do they offer CFD trading, but they also offer option trading as well. Minimum deposits allowed: There is no minimum deposit , but obviously you need to have the appropriate amount of margin to open up a position. LCG is a well-known and respected brokerage firm out of London, England. Furthermore, they are heavily regulated by the FCA, which is always a huge advantage.
They offer more leverage than is usually seen by brokers out of the United Kingdom, so that is a big advantage. That said, this is a brokerage firm that has been around long enough that safety is certainly going to be something that you can expect, as well as plenty of experience handling orders for clients. Customer service has been one of its biggest advantages as well. FXCM is one of the oldest brokerage firms online. It has been around since and is currently based in London, England.
They offer currencies, indices, crypto, and commodity CFD markets. You can trade with algorithms, and they do offer extensive education and research. The obviously offer the Metatrader ecosystem as well as Trading Station which is their own proprietary property. Their leverage for currencies is Keep in mind, if you are trading outside of the UK, your leverage will likely increase.
This low minimum deposit gives you access to the markets really cheap. You obviously need to have larger amounts deposited in order to put positions of size on. While FXCM is heavily regulated, they had a red flag attached to them. Trouble still follows this brokerage because they have done so much extreme damage to the reputation.
However, there are large amounts of brokers out there trying to get your business. Here are some of the most common questions that investors have about the MT4 MetaTrader platform. MT4, or Metatrader 4, is the most popular and widely used trading platform for currency and CFD markets.
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There is also Metatrader 5, which is the newer version of the platform. Quite frankly, the two platforms are very interchangeable, so if you understand wine, you will certainly be able to function with the other. The differences are minor, and the later version only has a few tweaks here and there that the average trader will notice.
Most of the time, this will be done automatically. You will simply download the platform from the brokers website, and it will already have most of the pertinent information filled in. However, if you download the software from Metatrader itself, when you choose to login, there will be a list of brokerage firms that you can choose, both in demo and live accounts. For However, if you download directly from the Metatrader website, there are certain brokerages that they have deals with. That being said, when people refer to Metatrader, they are referring to the platform itself.
This will vary from broker to broker, and most will also have phone numbers you can call as well to get clarification. Your email address will not be published. Alternatively, if your laptop has frozen, a trusty old restart can often solve the issue. MetaTrader 4 came out in , offering a straightforward platform, predominately for online forex trading. The aim of the MetaTrader 5 system, released in , was to give traders a powerful and comprehensive multi-asset platform.
How then, do they both compare and what are the differences? Both MetaTrader 4 and 5 allow for customisation, mobile trading, and automated trading. However, when it comes to analysis, the MT5 system has 38 technical indicators while the MT4 server has 30, although both contain popular EMA, b-clock and zigzag indicators.
Additionally, the MT5 software has more drawing tools than its predecessor, including a more advanced Elliot Wave indicator.