Automate Your Trades With the Best MetaTrader 4 Brokers Available

	Name	Score	Visit	Disclaimer
	IG	8.9	Visitig.com					Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

IG is one of the top MT4 brokers available, known for its strong reputation and over 45 years of experience in financial trading.

The company allows access to the MT4 platform, providing you with a wide range of tools and information no matter which level you are at. Beginners can easily grasp the basics while using the platform. Experienced traders can also benefit from advanced analytical tools as well as algorithmic trading strategies.

With competitive spreads, a user-friendly interface, and the protection of client funds and assets, IG ensures a powerful and secure trading environment.

The retail investor accounts offer a wide range of markets, including the option to trade forex, catering to diverse trading preferences.

Last but not least, the platform offers negative balance protection for UK users. That means no matter how much money you invest, and lose, you cannot reach a negative balance.

	Name	Score	Visit	Disclaimer
	Capital.com	6.6	Visitcapital.com

Capital.com secures its place on the list of top MT4 Forex brokers due to its innovative approach and cutting-edge technology in the trading industry. As a licensed and regulated brand, this platform prioritises compliance and transparency.

The platform is particularly suited for traders seeking a user-friendly experience, tools for trading CFDs, and advanced trading features. Most popular features include AI-powered trading signals with personalised trading insights, tight spreads, and a mobile-friendly trading app.

Capital.com’s retail CFD accounts provide you with unique SmartFeed features with personalised market insights, enhancing trading decisions.

The platform's emphasis on technology-driven solutions empowers traders with advanced tools and personalised support. Additionally, the MetaTrader suite provides robust and easy-to-use charts, customizable indicators, and intuitive window management.

This platform further enriches the trading experience with features like pre-defined watchlists, sentiment data, integrated research from Refinitiv, and comprehensive market commentary through YouTube playlists and informative articles.

Furthermore, it has developed a proprietary AI bias detection system. This system can help traders better understand their biases and trading weaknesses.

Markets.com, a global CFD and forex broker, stands out as a reliable choice for beginner traders. Regulated by reputable authorities such as the FCA, ASIC, CySEC, and FSCA, among others, it ensures a secure trading environment.

It provides high-quality research tools, including trading ideas and interactive charts, supporting informed trading decisions.

What really makes it stand out, though, is its easy-to-use and beginner-friendly interface. It is elegant, simple, and incredibly easy to navigate.

However, it's important to note that Markets.com has relatively high forex fees and primarily focuses on CFDs and forex products.

ActivTrades earns its spot on this list due to its strong reputation and dedication to client satisfaction. As a licensed and regulated brand, traders can trust its regulatory compliance and financial stability.

It caters well to traders seeking competitive trading conditions, outstanding customer support, and a diverse range of trading instruments. It offers tight spreads, multiple account types, a comprehensive suite of trading tools, and a user-friendly platform.

The second biggest advantage lies in its client-centric approach, ensuring personalised support and tailored trading conditions. While ActivTrades excels in low trading fees, excellent account opening, and free deposits and withdrawals, it does have limitations.

The product portfolio is primarily focused on CFDs and forex instruments, research tools are basic, and there are fees for inactivity and currency conversion. Additionally, customer service could be improved.

Admiral Markets tands out as a highly regulated and respected online trading service provider. With deep liquidity conditions from top-tier providers, it offers fast order execution and a low deposit requirement, making it an attractive option for traders.

The broker's use of industry-proven platforms showcases its commitment to technical solutions and optimizations. This platform has made it to this list due to its extensive presence in the industry and dedication to providing a top-notch trading experience.

Regulated by reputable authorities, it ensures a secure trading environment while catering to traders seeking a wide range of financial instruments, including forex, stocks, indices, and commodities, as well as cryptocurrencies.

The biggest advantage of using Admiral Markets lies in its comprehensive features, granting traders access to multiple markets and empowering them with advanced trading tools for optimal outcomes.

However, the inactivity fee of £8.65 per month levied after 2 years of inactivity might be annoying for many.

MetaTrader 4 (MT4) is a popular trading platform widely used by traders in the forex and CFD markets. Here is a quick overview of how MT4 works:

• Installation: To use MT4, you need to download and install the platform on your computer or mobile device. Most brokers provide a download link for the MT4 platform on their website. After installation, you can log in to the platform using your broker-provided account credentials.

• Market Analysis: MT4 provides various tools for market analysis. You can access real-time price charts, technical indicators, and drawing tools to analyze market trends, identify trading opportunities, and make informed decisions. MT4 offers a wide range of technical indicators, including moving averages, oscillators, and trend lines, which can be customized according to your trading strategy.

• Placing Trades: MT4 allows you to execute trades directly from the platform. You can choose to place market orders, or pending orders, or use one-click trading for faster execution. MT4 supports different order types, such as market orders, limit orders, stop orders, and trailing stops, giving you flexibility in your trading approach.

• Automated Trading: MT4 supports automated trading through the use of expert advisors (EAs), which are software programs that can execute trades based on predefined trading strategies or algorithms. Traders can develop their own EAs or use pre-built ones available in the MT4 community.

Proprietary Programs

If you are wondering why MT4 is so popular, then the reason can be traced down to the proprietary programs running in the backend.

Proprietary programs or plugins enhance the functionality of the MT4 platform. These programs are typically developed by third-party providers or brokers to offer additional features and tools to traders.

This is done through MQL (MetaQuotes Language), a proprietary programming language that allows traders to develop their own custom indicators, expert advisors (robots), and scripts.

MQL includes an Integrated Development Environment (IDE) called MetaEditor, which offers code editing, debugging, and compilation features. Traders can write MQL code using the MetaEditor to build their own automated trading systems or customize existing ones.

MT4 is a popular trading platform that offers a ton of benefits and advantages that will make any trader’s life significantly easier.

• Multi-functional trading abilities: MT4 supports various order types, including market orders, pending orders, and stop orders. Traders can execute trades instantly, set automated trading strategies, and implement complex trading algorithms. The platform also offers advanced charting capabilities, multiple timeframes, and a vast selection of technical indicators.

• Automation and customisation: MT4 has a host of features that can allow you to automate various aspects of trading, through scripts and robots. Furthermore, traders can also customize and change trading systems and indicators.

• User-friendly interface: MT4 is known for its user-friendly interface, making it accessible for both beginner and experienced traders. The platform is designed with intuitive navigation, customizable charts, and a straightforward layout, allowing traders to quickly adapt to the platform and find the tools they need.

• Broad Market Access: MT4 opens that gate to a wide range of financial markets, including forex, commodities, indices, stocks, and cryptocurrencies. This allows traders to diversify their portfolios and trade multiple markets from a single platform.

If MT4 does not align with your trading strategy or goals, you can refer to its alternatives as listed below:

• MT5

• cTrader

• NinjaTrader

• TradingView

• ProRealTime

The alternatives listed above have a variety of differences. For example, MT5 specifically is in many ways a more advanced version of MT4, however, while the latter has fewer features, it is significantly more user-friendly.

Moving forward, cTrader has more available assets than NinjaTrader, while NinjaTrader offers relatively more advanced charting tools.

MT4 has established itself as a benchmark in the industry. Its native security measures defend your personal information and transaction data. However, a large part of the security when using MT4 comes from the broker or platform through which you use MetaTrader.

Most of these safety measures include the encryption of your data, as well as account and password protection through 2FA authentication.

While MT4 has many security measures in place, you always need to consider the protection your broker is offering. Check online reviews to get a sense of the broker’s reputation, and be certain that it is governed by appropriate regulatory bodies (The Financial Conduct Authority in the UK, for example).

Some key factors that make MetaTrader 4 safe and secure:

1. Broker Regulation

2. Secure Login

3. Client Fund Segregation

4. Secure Data Transmission

5. Risk Management

MT4 itself is provided by brokers to their clients free of charge. However, what you need to look out for is the costs and fees associated with using a platform or broker offering MT4.

Some costs typically associated with MT4 usage via brokers and platforms include:

• Commission fees: Some brokers and platforms usually charge a percentage or a flat fee for every trade or investment you make.

• Account charges: A broker or platform might charge you a variety of account charges. There might be withdrawal fees, deposit fees, account maintenance fees, fees for holding a certain amount of funds, etc.

• Currency conversion fees: Besides the actual currency conversion rate, a broker or platform might charge an additional fee when you either convert money within your account or if you invest or place a trade with a different currency.

How do you actually choose a good MT4 broker in the UK? Keep some of the following factors in mind:

• Regulation and Security: Look for online reviews of the broker you are interested in, and check if it’s regulated by the appropriate bodies. Verify that the broker uses appropriate security measures and checks as well.

• Trading Conditions: What are the broker’s fees like? Furthermore, how many assets and tradable instruments do they have on offer?

• Trading Platform and Tools: Is the platform stable? Does it have all the necessary tools and resources you would expect from an MT4 provider?

• Customer Support: Evaluate the quality and responsiveness of the broker's customer support. Determine the available support channels, such as phone, email, or live chat.

• Deposit and Withdrawal Options: You also need to check the available deposit and withdrawal methods. Look for options that are convenient and secure for your location.

• Educational Resources and Research: Assess the broker's educational resources, including webinars, tutorials, and market analysis.

Note that setting up and connecting a broker with MT4 varies from broker to broker. However, while the details vary, the core instructions are pretty much the same. You can essentially follow the steps outlined below:

Throughout the entire process, just remember to choose a reliable broker that is licensed and regulated, to keep your funds and trades safe and secure.

You do not necessarily change brokers with MT4, rather, you simply open multiple accounts.

• Step 1: Click on the File from the top-left corner of the interface and select “Open an Account”.

• Step 2: Click on “Add New Broker”, and input all the necessary details like broker name and server.

• Step 3: Select the “Scan” option.

• Step 4: Add server IP and click on the Next.

There are a host of instruments you can trade using MT4. However, what you can actually trade, specifically, depends on the broker connected to MetaTrader. With that being said, you can trade pretty much anything, including:

• Indexes

• Cryptocurrencies

• Commodities

• Stocks

• Derivatives

• CFDs

Furthermore, you can even use MT4 for spread betting if you find a good spread betting broker.

MetaTrader4 offers a comprehensive set of charting tools and technical indicators, allowing traders to analyze price movements and make informed decisions. Some of the features include zooming horizontally and vertically, changing data periods, and overlaying graphical objects and indicators on charts.

As an MT4 plugin, Autochartist scans the market for chart patterns, key levels, and Fibonacci patterns, providing traders with potential trade opportunities based on technical analysis. It is particularly useful for auto trading strategies.

Copy trading is a popular concept within the MT4 platform, enabling traders to automatically replicate the trades of successful traders in real time through features like ZuluTrade and Trading Signals. Traders can benefit from the expertise of others and implement automated trading strategies.

An especially powerful feature of MT4 is its “expert advisors”.

Expert Advisors (EAs) are automated trading systems designed to execute trades on MetaTrader 4, allowing traders to automate their trading strategies and take advantage of market opportunities without constant manual intervention.

EAs are developed using the MQL4 programming language that opens the gates for traders to customize and create their own trading bots. Additionally, traders can purchase third-party EAs through the MT4 marketplace, expanding their options and gaining access to a wide range of pre-developed strategies tailored to different trading styles.

Backtesting is a vital process that allows traders to evaluate the quality and effectiveness of automated trading systems. Both MT4 and MT5 platforms support backtesting (through their own “Strategy Tester” option).

This enables traders to simulate trading strategies using historical data to assess their performance and profitability over a specific period.

Indicators are technical analysis tools that can help you identify market trends. They help traders analyze price data and estimate future price movements.

The platform offers a wide range of indicators, including trend indicators and oscillators, which can be added to price charts to assist in technical analysis.

These indicators are useful for backtesting trading strategies, identifying trends, and improving the accuracy of trading decisions.

As far as MT5 is concerned, your best bets are Admiral Markets (which we have already discussed), XM, and FxPro.

All of these brokers excel in providing fast and seamless account opening processes, ensuring a convenient start to your trading journey. Moreover, they offer competitive fees, a wide variety of instruments, and account opening is pretty easy as well.