Forex Brokers that Support the MT4 Platform

The MT4 platform is the retail trading platform of choice for a large percentage of individual forex traders. This is because it has a lot of advantages that put it far and above other proprietary platforms used for retail forex trading.

Take a look below for our updated list of Forex brokers that support the MT4 platform.

Broker Info Bonus US Traders Open Account
FXOpen UK Spread: 0 Pips (ECN Account)
Leverage: 1:500
Minimum Deposit: $300
Demo Account: No
Visit Broker Read Review
ETX Capital Spread: 0.9
Leverage: 400:1
Minimum Deposit: £100
Demo Account: No
60% up to £6,000 Welcome Bonus! Visit Broker Read Review
IronFX Spread: 2-3 pips
Leverage: 500:1
Minimum Deposit: $500
Demo Account: Open
60% Welcome Bonus plus Trading Contests Visit Broker Read Review
OctaFX Spread: 0.8 - 1 Pip
Leverage: 500:1
Minimum Deposit: $5
Demo Account: No
10-50% Deposit Bonus for New Traders! Visit Broker Read Review
ActivTrades Spread: 1 Pip
Leverage: 400:1
Minimum Deposit: $100
Demo Account: No
Open an Account and get 1,000 Points Visit Broker Read Review
ThinkForex Spread: 0.2 - 1.5 Pups
Leverage: 500:1
Minimum Deposit: $250
Demo Account: No
10% Ongoing bonus Visit Broker Read Review
HY Markets Spread:
Leverage: 300:1
Minimum Deposit: $50
Demo Account: No
35% First Deposit Bonus! Visit Broker Read Review
Varengold Bank FX Spread: 2 Pips
Leverage:
Minimum Deposit: $2500
Demo Account: No
N/A Visit Broker Read Review

Benefits of using the MetaTrader4 Platform

metatrader4

a)    Ease of Use: The MetaTrader4 (MT4) platform is extremely easy to use, and it most functions that the forex trader will need to use can all be done in one or two steps.

b)    The software is light and easily downloadable, thereby conserving bandwidth and reducing cost of internet usage in areas where cost is determined by bandwidth usage.

c)     Most functions have multiple ways of being accomplished. For instance, if a trader intends to place an order on a currency pair, this can be achieved using 3 or 4 different pathways. This can be done from the chart, from the order tab or even from the file navigation menu. Such range of choice allows traders to use the functions in the way they find easiest to accomplish.

d)    The MT4 has an advanced charting system that is easy to use, complete with tools for chart studies and technical indicators.

e)    The MT4 was built to support expert advisors and custom indicators courtesy of its Metaquotes Language (MQL) program, which gives programmers a language to design software that can communicate with the platform.

f)     It is a very ubiquitious platform. The MT4 is so popular that it is difficult to find market makers in the forex market that do not provide this software. Even brokers who stuck with their proprietary platforms have now discovered that it is bad business not to offer the MT4 as part of their platform products.

With these advantages that far outweigh any disadvantages, what MT4 brokers should traders be using in the market? We list out a few of them below.

Which Forex Brokers offer the MT4 on their Trading Platform?

Interbank FX

The reason why we have placed this MT4 broker on top of the list is simple. With almost every broker out there offering the MT4 platform, brokers have to go the extra mile to do something spectacular with their MT4 platforms for their clients. This is what Interbank FX, a US-based MT4 broker has done with its platform by developing a number of tools for technical analysis. These tools exist as custom indicators which can be attached to the chart for technical analysis. Some of these tools include:

a)    Candlestick pattern recognition tool (IBFX – CPR.ex4)

b)     Pivot calculator

c)     Volatility indicator

d)    MACD histogram

Of all these tools, traders will probably find the candlestick pattern recognition tool very useful. Many trading strategies and trade calls rely on a correct identification of candlesticks to produce results. Candlesticks are very important, but many traders cannot identify them correctly. With this tool, the problem is solved.

GAIN Capital

This MT4 broker which owns the Forex.com brand is on this list for one reason only: the nature of the news supplied on their news bar. Their news tab not only features market news, but the results of the technical analyses done by their research team are put up for traders to use. Yours truly has taken a trade based on their technical recommendation, received as a news feed that brought in 180 pips in one trade. This MT4 broker is therefore worth every penny put into the trading accounts they provide.

Alpari UK

Alpari UK is another MT4 broker that has created a lot of innovation in the way that the MT4 platform is used. This broker was one of the pioneers of the micro account, allowing traders to deposit a minimum of $300 in order to trade micro-lots on their platform. There is also a separate provision for an MT4 platform that is used strictly to trade energy products and spot metals. Alpari UK is also one of the few brokers that offers the Autochartist technical analyses tools to traders who operate live accounts on their platforms.

FxPro

FxPro is on this list because they are one of the first brokers to introduce MT4 trading on the smartphone devices. FxPro presently offers the MT4 on the iPhone, iPad, BlackBerry, Windows phones and the Android devices. So if you love mobile trading and you love the MT4, then you should be trading with FxPro because they are one of the best MT4 brokers out there.

Conclusion

All the brokers mentioned above have two things in common: they are all MT4 brokers, and they offer much more than just the MT4, which gives traders nothing but a pleasurable trading experience.

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