The best MT4 brokers let you trade the markets using MetaTrader a popular trading software that allows you to automate trading activity. We have ranked, compared and reviewed some of the best MT4 brokers in the UK to help you choose the most appropriate account for your trading strategy.
Best MT4 Brokers
Our picks for the best MT4 brokers are based on over 7,000 votes in our annual awards, our own experiences testing the accounts as well as an in-depth comparison of the features that make them stand out compared to alternatives.
- City Index – excellent trading signals and analytics for MT4
- IG – very wide range of markets for MT4
- CMC Markets – good for index trading on MT4
- Pepperstone – excellent package of MT4 indicators
- Saxo Markets – good for professional traders on MT4
MT4 Broker Reviews
In our MT4 broker reviews, we highlight the pros and cons of each account, what markets you can trade in, how much it costs, and how they compare to the competition. We also explain what makes them different and tell you who they are most appropriate for so you can choose the best account for your trading.
City Index MT4 Trading
Pros
✔️ Trading signals
✔️ Post-trade analysis
✔️ Wide range of markets
✔️ UK based
Cons
❌ No DMA
❌ No investment options
❌ No futures & options
74% of retail investor accounts lose money when trading CFDs with this provider
CMC Markets MT4 Trading
Pros
✔️ Excellent sentiment tools
✔️ Wide range of markets
✔️ Tights spreads and low costs
Cons
❌ No investment account
❌ Limited shares on offer
❌ No DMA equities trading
66% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider
Pepperstone MT4 Trading
Pros
✔️ Tight spreads
✔️ Fast execution
✔️ Good MT4/MT5 trader tools
Cons
❌ Limited shares on offer
❌ No investment accounts
❌ Major markets only
79.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider
Saxo Markets MT4 Trading
Pros
✔️ Professional-grade trading platform
✔️ Integrated research and analysis
✔️ Excellent market range
✔️ Investment account options
Cons
❌ Maybe too advanced for beginners
❌ MT4 not as good as main platform
❌ Major markets only
70% of retail investor accounts lose money when trading CFDs with this provider
Markets.com MT4 Trading
Pros
✔️ Blends and sector trading
✔️ Hegde fund sentiment analysis
✔️ TipRanks Integrated
Cons
❌ No investment accounts
❌ Analysis limited to US stocks
❌ HQ not in the UK
77% of retail investor accounts lose money when trading CFDs with this provider
Compare MT4 Brokers
Use our MT4 broker account comparison to compare each provider by account types, what you can trade in, and fees. We only include providers that are authorised and regulated by the FCA where your funds are protected under the FSCS and where customers have voted for them in our awards survey.
| Featured MT4 Broker | MT4 Account Options | MT4 Key facts | MT4 Trading Costs | More Info |
|---|---|---|---|---|
| MT4 CFDs: Yes MT4 Spread Betting: Yes MT4 DMA : Yes Pro Account: Yes MT4 Scalping: Yes | Total Markets: 12,000 Forex Pairs: 84 Commodities: 25 Indices: 21 UK Stocks: Yes US Stocks: Yes | EURUSD: 0.5 pips GBPUSD: 0.9 pips UK 100: 1 point Wall Street: 2 points Overnight Financing: Variable | See Offer70% of retail investor accounts lose money when trading CFDs with this provider | |
| MT4 CFDs: Yes MT4 Spread Betting: Yes MT4 DMA : Yes Pro Account: Yes MT4 Scalping: Yes | Total Markets: 17,000 Forex Pairs: 51 Commodities: 38 Indices: 34 UK Stocks: 3,925 US Stocks: 6,352 | EURUSD: 0.6 pips GBPUSD: 0.9 pips UK 100: 1 point Wall Street: 2.4 points Overnight Financing: 0.0022% | See OfferYour capital is at risk. 73% of retail CFD accounts lose money | |
| MT4 CFDs: Yes MT4 Spread Betting: Yes MT4 DMA : Yes Pro Account: Yes MT4 Scalping: Yes | Total Markets: 9,300 Forex Pairs: 71 Commodities: 33 Indices: 22 UK Stocks: 629 US Stocks: 3,441 | EURUSD: 0.7 pips GBPUSD: 0.9 pips UK 100: 1 point Wall Street: 2.4 points Overnight Financing: 0.0027% | See Offer66% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider | |
| MT4 CFDs: Yes MT4 Spread Betting: Yes MT4 DMA : Yes Pro Account: Yes MT4 Scalping: Yes | Total Markets: 178 Forex Pairs: 62 Commodities: 23Indices: 14 UK Stocks: 0 US Stocks: 64 | EURUSD: 0.09 pips GBPUSD: 0.59 pips UK 100: 1 point Wall Street: 2.4 points Overnight Financing: Variable | See Offer 79.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider | |
| MT4 CFDs: Yes MT4 Spread Betting: Yes MT4 DMA : Yes Pro Account: Yes MT4 Scalping: Yes | Total Markets: 8,000+ Forex Pairs: 20+ Commodities: 5+ Indices: 10+ UK Stocks: Yes US Stocks: Yes | EURUSD: 0.6 pips GBPUSD: 0.8 pips UK 100: 1 point Wall Street: 1 point Overnight Financing: Variable | See Offer57.1% of retail investor accounts lose money when trading CFDs with this provider | |
| MT4 CFDs: Yes MT4 Spread Betting: No MT4 DMA : Yes Pro Account: Yes MT4 Scalping: Yes | Total Markets: 19,999 Forex Pairs: 57 Commodities: 19 Indices: 23 UK Stocks: na US Stocks: na | EURUSD: 0.6 pips GBPUSD: 0.7 pips UK 100: 1 point Wall Street: 3 points Overnight Financing: +/- 0.75% | See Offer 70% of retail investor accounts lose money when trading CFDs with this provider | |
 | MT4 CFDs: Yes MT4 Spread Betting: No MT4 DMA : Yes Pro Account: Yes MT4 Scalping: No | Total Markets: 200+ Forex Pairs: 61 Commodities: 3 Indices: 11 UK Stocks: 0 US Stocks: 119 | EURUSD: 1.5 pips GBPUSD: 1.5 pips UK 100: 4.5 points Wall Street: 2.4 points Overnight Financing: Variable | See Offer 77% of retail investor accounts lose money when trading CFDs with this provider |
What is an MT4 Broker?
An MT4 broker is a financial services firm that providers the MetaTrade4 (MT4) platform so that it’s clients can speculate on financial markets. MT4 brokers have risen in popularity recently as the MT4 platform is considerably cheaper for a broker that developing it’s own propriety technology.
What is MT4?
MT4 is the abbreviation for MetaTrader 4. MT4 is one of the best trading platforms and is owned and operated by MetaQuotes Software Corp. MT4 provides retail or private clients with a trading platform with institutional grade execution and functionality. MetaTrader 4 is an exceptionally flexible trading platform, advanced tools of technical analysis, Trading Signals, mobile and automatic trading — MetaTrader 4 has all the bells and whistles that even the biggest traders need to manage or automate their Forex trading.
How to choose an MT4 broker
1,000s of brokers offer MT4 – make sure you trade with the best MT4 for your specific type of trading which could include:
- API & Algo trading on MT4
- CFD trading on MT4
- Spread betting on MT4
- Forex trading on MT4
MT4 is one of the most versatile ways to trade the Forex, index and commodity markets. Compare the best UK MT4 brokers offering MT4 here. This is a list of the top MT4 FX brokers that provide the tightest spreads, the lowest costs, the best welcome bonuses. We only show MT4 brokers with offices in London (the most active FX market). All the brokers are authorised and regulated by the Financial Conduct Authority where client funds are segregated and protected under FSCS.
Compare MT4 Brokerage Accounts
If you don’t know where to start when looking for an MT4 broker, use our comparison service. We provide a comparison table to UK based MT4 brokers. These brokers are all regulated and of good reputation – as well as being well established MT4 providers. It is very important that when you choose to lodge funds with a broker that they are properly protected. Your best chance of being as secure as possible is to only trade with a UK based broker that is regulated by the FCA (Financial Conduct Authority).
Download MT4 Trading Platform
You can download MT4 from any of these MT4 brokers:
The simplest way to download the right version of MT4 is to download it from the broker you want to trade with. There are currently over 600 brokers offering MT4 to their clients. But it’s important to make sure you only open an account with a UK regulated MT4 Broker where you get the best services and regulatory protection from the FCA.
Technical Analysis on MT4
Trading Forex is all about market timing. Most MT4 traders are short term speculators and job in and out of the FX market on an intra day basis. The best research tool for spotting and confirming trading idea is technical analysis. By using the advanced technical analysis tools available on MT4 traders should be able to increase their edge on the markets.
Trading & Order Types
MT4 offers a little more than just buy and sell than some cut down retail platforms offer. Trade market, limit, stop to open, run trailing stops and run longs short positions in the same pair with the hedging tools. The order functionality of MT4 makes trading on it one of the most precise and flexible platforms around.
Automated Trading on MetaTrader 4
One of the strongest and most popular features is the ability to trade automatically on MT4. The automatic trading feature has been active since 2006 and tens of thousands of traders have used the function. The automated trading is two sided so you can either follow other traders via copy trading or upload your own code to the market place and sell it to potential followers in the MT4 market place where traders can buy robots & indicators. In the market place you’ll also find the complete array of MT4 signals and can search by filters to find a Forex trading signal.
Who are the best FCA Regulated MetaTrader 4 (MT4) Brokers?
Out awards and broker matrix highlight which brokers are objectively and technically better for clients using the MT4 trading platform. We base are rankings on a number of factors including market access, spread and pricing, customer service and added value.
Best overall MT4 broker
Pepperstone won “best MT4 broker” in our awards for the last two years as they offer some of the tightest pricing on a selection of the major FX pairs.
The winners of “best MT4 broker” in our awards in previous years have been:
- 2021: Pepperstone
- 2020: Pepperstone
- 2019: ETX Capital
- 2018: ETX Capital
FCA regulation is one of the most important factors when choosing your MT4 broker. An MetaTrader 4 broker being FCA regulated means that as a client your funds are pretected and you can be sure that your broker needs to adhere to a stricter set or rules than brokers regulated else where.
There are many other issues that an MT4 broker being regulated by the FCA will probably be better at too – these include compliance, Anti Money Laundering (AML) and customer service. Being a fully FCA regulated MetaTrader 4 broker will also mean that the company is based in the UK, meaning you can pop in and visit your broker if you have any questions you’d like to ask in person.
Most brokers are happy to take face to face client meetings – even though MT4 is an online platform brokerage in the UK is still a relationships business and most account executives will work hard to keep clients happy and informed.
Best MT4 Forex Brokers
Saxo Markets is the MT4 broker for forex trading based on the number of forex pairs that are available to trade on their platform. Here we have ranked the best MT4 forex brokers by how many currency pairs they offer:
- Saxo Markets – 182
- Capital.com – 138
- CMC Markets – 71
- City Index – 84
- Pepperstone – 62
- IG – 51
- Markets.com – 20
MT4 is one of the most popular ways for traders to speculate on Forex markets and CFD (Contracts for Difference). The MT4 trading platform is excellent for all traders from absolute beginner to seasoned professionals.
If you want to trade forex on MT4 you will be better off with a broker that is based and regulated in the UK. We have comparison tables of the best forex brokers that you can filter down to those that offer MT4. When you trade with a UK regualted MT4 broker some of your funds are protected by the FSCS as well as the enhanced regulatory requirements of the UK regulator, the FCA.
If you want to trade forex on specific currency pairs then our EURGBP table can help you compare brokers and our GBPUSD table compares brokers to trade cable.
Best MT4 CFD Brokers
Saxo markets is the best MT4 broker for trading CFDs based on the fact that it offer 19,999 tradable CFD markets, the msot of any MT4 broker in our matrix. here we have ranked MT4 CFD brokers by how many markets they offer:
- Saxo Markets – 19,999
- IG – 17,000
- City Index – 12,000
- CMC Markets – 9,300
- Markets.com – 8,000
- Capital.com – 3,900
- Pepperstone – 178
MT4 is one of the most popular ways for traders to speculate CFD (Contracts for Difference). The MT4 trading platform is excellent for all traders from absolute beginner to seasoned professionals.
Best MT4 Spread Betting Brokers
IG is the best MT4 broker for financial spread betting as they offer the most financial assets to trade. IG offers 17,000 instruments to spread bet on. Here we have ranked MT4 spread betting platforms by how many markets they offer:
- IG – 17,000
- City Index – 12,000
- CMC Markets – 9,300
- Markets.com – 8,000
- Capital.com – 3,900
- Pepperstone – 178
Best MT4 Commodities Brokers
IGis the best MT4 for commodities trading based on the amount of commodities available to trade and the data in our matrix. Here we have ranked MT4 commodities brokers by the number of commodity markets available to trade:
- IG – 38
- CMC Markets – 33
- Capital.com – 28
- City Index – 25
- Pepperstone – 23
- Saxo Markets – 19
- Markets.com – 10
Best MT4 Demo Accounts
All these brokers offer demo accounts of MT4.
- IG
- CMC Markets
- Capital.com
- City Index
- Pepperstone
- Saxo Markets
- Markets.com
If you are new to MT4 (or trading Forex) the best way to get started is to open an MT4 demo account. We show a list of all the brokers in the UK that offer MT4 as well as who will let you try the MT4 platform before having to deposit funds.
Best MT4 Mobile Trading Account
Unlike many other mobile trading platforms, MT4 iPhone & iPad and Android OS MT4 trading platforms and mobile technology are almost identical to the desktop version. You get the same functionality, access, trading options and the ability to analyse technical analysis on the move. If you want to try out the MT4 Mobile platforms open an account with one of the MT4 brokers in our comparison tables.
These are the best brokers in our matrix that offer MT4 trading on mobile (iPhone and Android):
- IG
- CMC Markets
- Capital.com
- City Index
- Pepperstone
- Saxo Markets
- Markets.com
MT4 Broker Reviews
You can read our expert reviews of brokers that provide MT4 as a trading platform:
You can read reviews of UK CFD trading platforms and brokers here:
- Read our full IG review
- Read our full CMC Markets review
- Read our full Pepperstone review
- Read our full City Index review
- Read our full Markets.com review
- Read our full Saxo Markets review
- Read our full Capital.com review
CMC Markets MT4 (MetaTrader 4) Account Review
Despite having its own dedicated FX trading platform CMC also offers clients the chance to trade over MT4 which is among the most prolific FX trading platforms in the world and its so popular because it allows for the use of Expert Advisors or EAs bits of specialist software that help to automate the trading and trade idea generation processes.
Offering MT4 allows CMC to attract existing FX traders who are looking to change brokers but don’t want to have to learn a new platform or abandon an EA or strategy that they have used successfully elsewhere.
MT4 is available free of charge and CMC also offers access to the Android and iOS MT4 mobile trading apps.
CMC enhances the standard MT4 user experience through a series of add ons such as the mini terminal, market manager and connect which imports websites and news feeds into the MT4 desktop.
If you like the MT4 dealing experience and want to trade through CMC then you should feel right at home straight away. Or, if you are just curious to find out more about MT4 there is a demo account for you to give it a test drive.
MT4 FAQ:
Are Interactive brokers on MT4?
No, Interactive broker does not offer MT4 instead they have their own suite of in house trading platforms and API connectivity, which they offer to their clients
How to add custom indicator to MT4 iPhone
Download and log in to the App on your iPhone then select charts from the menu, then tap on the function icon that looks like a curly “f”. From there you will be able to choose from a list of indicators that can be added to your chart.
How to add indicator window to MT4
MT4 can look daunting at first but with a bit of practice, you will soon be navigating around the platform. To add an indicator window to a chart first select the chart you wish to view, then from the toolbar at the top of the page click on insert and then select indicators from the drop-down list that appears.
Choose your indicator type, for example, Trend Following, then select an indicator from that list let’s say standard deviation. A box will appear allowing you to customise the indicator, select the visualization tab in that box, and make sure that the show in data window option is ticked
How to add indicators to MT4 for Android
Download the MT4 app from the Google play store and log in from the main menu select charts then select the function icon (a “curly f”) you will see options for the main chart and indicator window 1 you can select indicators for each via a drop-down list, simply make your selection and they will appear on your chart as specified.
How to change leverage on MT4
Where this service is available leverage can be changed via the Secure Client Area and not on the platform itself.
To change your leverage login to your SCA, then select an account, edit account settings, and then change leverage, then submit to apply the changes.
Note that changing leverage levels on an account will affect existing open positions as well as new positions opened post the changes.
How to connect broker to MT4
The most straightforward way to connect to a specific broker using MT4 is to download the platform from their website and then log in using the credentials and server settings they sent you when you opened your account.
However, If you have a generic version of the platform not associated with any broker then at login you will have the opportunity to search for and select a broker from an extensive list. However to log in and use the platform with that broker you will need your user credentials from that broker.
How to enable trading in MT4
Download and launch MT4 and if you haven’t done so already log in using your broker specific credentials, if you have applied for a demo account you will find yourself in a realistic simulation of the live markets but it’s one in which you are risking no real money.
However, if you have applied for a live account you will need to have funded the account before you can trade. Something that’s usually done via the broker’s website and the Secure Client Area rather than the trading platform, especially the first time out.
Once funded to get started you simply need to login to that live account using the correct (non-demo) credentials and server settings
How to enter a trade on MT4
There are several ways to enter trades on MT4 you can call up deal tickets by clicking on the new order button in the second row of the toolbar at the top of the screen
The deal ticket appears in the middle of the screen as shown above and you can adjust the tick as required for example by choosing between a market or pending order type, the size of the trade and the price required in a pending order etc.
Alternatively, you can click on the bid-offer prices displayed in the chart clicking on the offer will action a purchase in the broker’s default amount, for example, 0.01 of an FX lot.
Clicking on the bid price will action a sale in the same size.
Note that to use this feature you will need to enable and sign up for one-click dealing.
Which means instant execution and no chance to check your order first. So it’s probably not the wisest choice for novice or newbie traders.
How to install multiple MT4 terminals with the same broker
Though this is possible it’s a bit technical to achieve.
What you need to do is to download the platform multiple times and specify a different destination folder for each instance of the platform. The default installation setting will be something similar to C:\Program Files\Metatrader 4\
That will be fine for your first installation, but you’ll need to create a new folder address for each subsequent installation.
You will be offered the opportunity to change or select a different destination folder by the instal wizard, and you could amend the destination address to something like this, C:\Program or, Files\Metatrader 4-1\ or C:\Program Files\Metatrader 4-2\
Though you can call the folders whatever you wish as long as the names are unique and you can remember what they are and represent.
How to place a trade on MT4 Android
Open the MT4 Android App, and then the main menu and select quotes.
Tap the instrument you want to trade in and then tap new order, select your trade size and execution type, that’s market or pending order, and of course, the direction of your trade whether it’s a buy or a sale.
You will also have the option to add a stop loss or take profit to the trade if you wish to do so.
Then simply submit the order.
How to trade indices on MT4
Assuming that your broker offers index CFD trading you’ll need to log in to the platform, click on the view tab in the toolbar and select market watch which should bring up the platforms symbol and quote list.
If there are no indices displayed here.
Then you will need to select the symbol library by clicking the $ symbol in the tool bars at the top of the screen and once you have done that you should see a directory list like the one below.
Select an indices list, and then show symbols, click ok and those instruments should now be visible in the market watch window.
You should now be able to draw charts add indicators and place orders in those index symbols.
Trading Platform ReviewsIG Reviews CMC Markets Reviews Pepperstone Reviews Saxo Markets Reviews Interactive Brokers Reviews Spreadex Reviews City Index Reviews Markets.com Reviews |
- Last updated by
- Richard Berry
- April 6, 2022
- 9:17 am
