Best MetaTrader (MT4) Forex Brokers + Features (TOP 10) in 2021
The trading platform is undoubtedly one of the key tools for online traders. And one of the most common and reliable trading platforms out there today is MetaTrader 4 or MT4. Came into existence in 2005, the success of this trading platform can be attributed to several reasons. The first of these reasons is that the trading platform comes with MQL4, an in-built scripting language. Thanks to MQL4, traders can develop EA (Expert Advisors) on their own and the same can be used for automated or algorithmic trading.
What are MetaTrader (MT4) Forex Brokers 2021??
The second reason is that MT4 comes with an advanced charting package that supports different timeframes. Additionally, there are lots of technical indicators that can be used by traders for overlaying their trading charts. This way they can read the market conditions accurately. Given all these benefits and a lot more, a majority of online brokers provide MT4 as a trading platform for their clients. Here, we are listing only the best mt4 forex brokers in 2021.
Table of Contents
Best MetaTrader (MT4) Forex Brokers 2021:
Often regarded as the next-generation broker, XM is a leading commodity and online forex broker. The best part about trading with XM is that you can trade on its platform whether you are a beginner or an expert. If you are confident and have the necessary experience to test the waters of the forex industry, then you can start trading with XM with a small deposit amount. Else, you can learn the nuances of trading through a demo account before you open a real account with XM.
- The minimum deposit is just $5
- Availability of demo account
- Suitable for both beginners and advanced traders
- Educational resources and tools for traders
- Traders from the US and Canada are not allowed to trade
HotForex provides one of the best performing trading platforms on the market. Traders can access a variety of tradable assets and also look at their portfolios with a single tap. With HotForex, traders can diversify their portfolios by investing in a variety of markets. For example, traders can invest in the forex market, stock market, gold, etc. Also, the intuitive MT4 trading platform that HotForex uses lets users employ charting tools and technical indicators to make a wise decision about specific trades or the market as a whole.
- Advanced charting tools
- Customizable settings
- Tons of educational resources
- Availability of trading news
- There is no demo account
One of the most trusted and efficient trading platforms out there, Exness covers almost all features that are considered crucial for online trading. The broker came into existence in 2008 and is regulated by top financial authorities, FCA and CySEC. Over the years the company has designed and built desktop and mobile trading platforms that are considered as reliable and efficient by many users. With the MT4 trading platform that Exness provides, users can make seamless transactions and make the most of a trading session.
- Account opening is simple and takes only a few minutes
- Multiple transaction modes
- Multiple tradable assets
- Availability of take-profit and stop-loss features
- Non-availability of multi-currency accounts
OctaFX came into existence in 2011 and has since then allowed users to trade on a variety of instruments, including forex, metals, indices, cryptocurrencies, etc. The broker provides MT4 Pro, MT4 Micro, and cTrader ECN trading platforms for both advanced traders and beginners. In opening an account with OctaFX, traders can also access copy trading and a variety of research tools. There are also regular bonuses and promotions on offer through the broker.
- Access to a wide range of research tools and copy trading
- Wide range of trading accounts
- Bonus promotions
- Trade on MT5, MT4, and cTrader platforms
- Limited deposit and withdrawal options
To open a trading account with RoboForex, all you need to do is make an initial deposit of $10. If you are a beginner and know nothing much about the forex market, there’s a demo account to make you familiar with the market and practice trading. RoboForex is headquartered in Cyprus and was founded in 2009. It is among the few brokers that provide both MT4 and T5 trading platforms to its users.
- Quick account registration
- A large choice of trading instruments
- Different choices of deposit and withdrawal methods
- Customer support in multiple languages
- Is not regulated by FCA