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MT4 brokers let you trade the markets using MetaTrader one of the most popular trading platforms that allows you to automate trading activity. We have ranked, compared and reviewed some of the best MT4 brokers in the UK regulated by the UK.

Best MT4 Brokers 2022

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

City Index: Best for MT4 trading signals and analytics

Trade on Metatrader 4 with City Index and benefit from tight spreads, fast trade executions and unique trading tools. Download and explore automated trading strategies with Expert Advisors from FX Blue. Choose from nine different EAs to complement your trading style, including Sentiment Trader.

Pros:

  • Wide range of markets
  • Trading signals
  • UK Based

Cons:

  • No DMA
  • No MT4 options

74% of retail investor accounts lose money when trading CFDs with this provider

CMC Markets

CMC Markets: Good for client sentiment trading

Competitive spreads on 175+ FX pairs, plus indices and commodities with no restrictions on scalping and no restrictions on minimum stop-loss or take-profit distances, or stop-loss and take-profit limits. Additional premium MT4 indicators and EAs, included at no cost on a London-located server.

Pros:

  • Wide range of markets
  • Good sentiment indicators
  • Low minimum deposit

Cons:

  • No direct markt access
  • No futures trading
  • No options trading

76% of retail investor accounts lose money when trading CFDs with this provider

Pepperstone

Pepperstone: Best overall MT4 broker 2022

With Pepperstone’s MT4 account you get 85 pre-installed indicators and 28 additional Smart Trader Tools where you can build and run your EAs using MetaQuotes Language 4 (MQL4) and identify statistically significant market movements with Autochartist.

Pros:

  • Free suite of expert indicators
  • Widest market range
  • Tight pricing

Cons:

  • No options on MT4
  • cTrader easier to use

74% of retail investor accounts lose money when trading CFDs with this provider

IG: Good for larger MT4 traders

IG’s MT4 package gives instant access to 18 free add-ons and indicators. Trade in sizes as small as 0.01 lots as a CFD or spread bet and get minimum spreads from just 0.6 pips on a host of forex pairs.

Pros:

  • Established broker
  • Good API connectivity
  • Good market coverage

Cons:

  • Pricing only good for high volume traders

73% of retail investor accounts lose money when trading CFDs with this provider

Markets.com

Markets.com: Good for smaller MT4 traders

When trading on MT4 with Markets.com you can automate your trading with Expert Advisors that execute trades on your behalf using hedging tools and trade lots as small as 0.01. Execute trades instantly and with low costs and get fully customisable charts and a range of free technical indicators.

Pros:

  • Good access to US stocks

Cons:

  • Main markets only

77% of retail investor accounts lose money when trading CFDs with this provider

XTB

XTB: Good for low-cost MT4 trading

Use MT4’s powerful pattern recognition tool to spot emerging trends to trade with. Define entry and exit points, and set stop loss and profit-taking levels. Our one-click dealing system also means you can enter or exit trades quickly and efficiently.

Pros:

  • Publically listed broker
  • Good educational and analysis tools

Cons:

  • No spread betting
  • No options
  • Limited market range

77% of retail investor accounts lose money when trading CFDs with this provider

Compare MT4 Brokers

How to choose the best MT4 broker:

MT4 is available from thousands of brokers and used by millions of traders every year. With so many brokers utilising the same platform, they must work hard to differentiate themselves and win business. So, what makes one MT4 broker better than another? The key questions you need to ask yourself when choosing an MT4 broker are:

  • Where is the broker regulated? – In the UK this is the FCA
  • How many markets do they offer on MT4? – Some brokers only offer 10 or so FX pairs which is not enough
  • What types of trading account do they have? Spot FX, CFDs or financial spread betting
  • What are trading costs? Some brokers include commission in the spread, while others add it post-trade
  • Is there any added value on offer? Larger brokers offer free indicator packages, faster execution plus news and analysis

What is an MT4 Broker?

An MT4 broker is a financial services firm that provides the MetaTrade4 (MT4) platform so that its clients can speculate on financial markets. MT4 brokers have risen in popularity recently as the MT4 platform is considerably cheaper for a broker than developing its own propriety technology.

Why are MT4 brokers so popular?

MetaTrader 4 (MT4) is one of the world’s most popular trading platforms that, over the past 13 years, has cultivated a unique online trading culture with a huge ecosystem behind it.

MT4 offers you the flexibility to build and backtest strategies through a range of automated trading algorithms and bespoke apps. What’s more, you can buy and sell trading automation programs through the MT4 market space. A lot of the software available is open-source allowing you to code your own programs and share them with other traders.

The key difference, when compared to proprietary trading platforms, is that MT4 is not intrinsically linked to any single broker. Instead, Meta Quotes, the software developer behind MT4, licence their platform to brokers, who offer it to their clients.

The practical upshot is that with an MT4 licence smaller brokerages are able to compete with larger, more established firms effectively lowering trading costs. 

Advantages of using an MT4 broker

  • Automated trading
  • Industry-standard platform
  • Excellent technical analysis tools

Disadvantages of MT4 brokers

  • Can be too complicated for new traders
  • Expert Advisors can be expensive and unproven
  • Available on unregulated trading platforms

Best MT4 broker for beginners

CMC Markets is the best MT4 broker for beginners as they are well established, publically listed on the LSE, and offer over 200 markets to trade. They are also backed up by an exceptional in-house trading platform which beginners may find more user-friendly and easier to use than MT4.

Best MT4 broker for experienced traders

Pepperstone is the best MT4 broker for experienced traders. They offer by far the most markets of all the MT4 brokers we feature (around 1,200) including UK, US and Australian shares. They also provide free technical indicators and automated trading strategies in their Smart Trader Tools package which is a suite of expert advisor tools that help with trade execution and management.

MT4 Broker FAQs:

Who regulates MT4 brokers in the UK?

The FCA regulates all brokers that offer MT4 based in the UK.

Do brokers offer 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 marketplace and sell it to potential followers in the MT4 marketplace 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.

What is an MT4 EA?

EA stands for Expert Advisor. Automated Expert Advisors allow you to take positions automatically, based on pre-set trading parameters. You can program Expert Advisors to follow a very specific set of instructions, allowing your positions to be automatically opened and closed without you needing to be present. or you can buy them ready made.

Does Interactive brokers offer MT4?

No, Interactive Brokers does not offer MT4 instead they have their own suite of in house trading platforms and API connectivity, which they offer to their clients.

What is the execution speed on Metatrader 4?

For MT4 and Expert Advisors you should be looking for execution speeds of sub 25-30 milliseconds. MT4 brokers are responsible for the price feeds and the infrastructure behind the scenes that actually execute the trades, so always choose a well-established broker with the free VPS.

Will a broker give me a free VPS on MT4?

Yes, Pepperstone will give clients a free VPS for trading on MT4, based on your traded volume.

A Virtual Private Server (VPS) allows you to use Expert Advisors (EAs) 24/7. The VPS means you no longer need your home computer continuously running for your EAs to execute trades, ensuring uninterrupted trading day and night. If the VPS provided is in close physical proximity to your brokers MT4 servers, then you will also benefit from much faster execution times, allowing you to catch that price before it changes.

Can you change your leverage on MT4?

Yes, you can but this feature must be enabled by your broker, and cannot be changed direct on the MT4 platform. Note that changing leverage levels on an account will affect existing open positions as well as new positions opened post the changes.

Can you have multiple MT4 terminals with the same broker?

Yes, you can have two MT4 installs from the same broker although you will have to download the platform multiple times and specify a different destination folder for each version of the platform.

Which brokers allow micro-lots on MT4?

City Index, Pepperstone, CMC Markets and IG offer micro-lots for MT4 trading.

With MT4 you can choose to either trade in standard lots or micro-lots, which allows you to trade in smaller increments and limit your overall exposure.

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