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MetaTrader 4: The Ultimate MT4 Review 2026

MetaTrader 4, also known as "MT4", is a free trading platform designed for forex and futures traders. Find the best MT4 brokers, learn all features, and start trading today.

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Best MetaTrader 4 Brokers 2026

Our top-rated brokers offering MetaTrader 4, ranked by spreads, regulation, and overall value. All brokers are regulated and expert-reviewed.

Editor's Choice

AvaTrade

4.2 ★★★★

Award-Winning Multi-Asset Broker

Spreads 0.9 pips

Min Deposit $100

Regulation Central Bank of Ireland

✓ Multi-regulated by 6+ tier-1 authorities✓ Excellent educational resources✓ Multiple trading platforms including MT4/MT5

Read Review Get Partner Code →

Axi

4.3 ★★★★

Professional-Grade ECN Trading

Spreads 0.0 pips

Min Deposit $0

Regulation ASIC

✓ Raw spreads from 0.0 pips✓ No minimum deposit requirement✓ Fast ECN execution

Read Review Visit Broker →

Pepperstone

4.5 ★★★★

Award-Winning Forex & CFD Broker

Spreads 0.0 pips

Min Deposit $0

Regulation ASIC

✓ Razor-sharp spreads from 0.0 pips✓ Ultra-fast execution (avg 30ms)✓ Multiple platforms: MT4, MT5, cTrader, TradingView

Read Review Visit Broker →

IC Markets

4.6 ★★★★

True ECN Trading with Raw Spreads

Spreads 0.0 pips

Min Deposit $200

Regulation ASIC

✓ Industry-leading raw spreads from 0.0 pips✓ True ECN execution with no dealing desk✓ $1 trillion+ monthly trading volume

Read Review Visit Broker →

IG

4.4 ★★★★

World's #1 CFD Provider

Spreads 0.6 pips

Min Deposit $250

Regulation FCA

✓ 50+ years established✓ Publicly traded (FTSE 250)✓ 17,000+ markets

Read Review Visit Broker →

GO Markets

4.1 ★★★★

Award-Winning Australian Broker

Spreads 0.0 pips

Min Deposit $200

Regulation ASIC

✓ Raw spreads from 0.0 pips✓ Multiple platforms✓ ASIC regulated

Read Review Visit Broker →

Libertex

3.8 ★★★

Zero Spread Trading

Spreads 0.0 pips

Min Deposit $100

Regulation CySEC

✓ Zero spreads model✓ Transparent commission pricing✓ MT4/MT5 available

Read Review Visit Broker →

City Index

4.2 ★★★★

Professional Trading Since 1983

Spreads 0.5 pips

Min Deposit £100

Regulation FCA

✓ 40+ years established✓ FCA regulated✓ Spread betting (tax-free UK)

Read Review Visit Broker →

easyMarkets

3.9 ★★★

Trade with Confidence

Spreads 0.7 pips

Min Deposit $25

Regulation CySEC

✓ Unique dealCancellation feature✓ Fixed spreads✓ Very low minimum deposit

Read Review Visit Broker →

#10

Vantage

4.2 ★★★★

Trade Smarter

Spreads 0.0 pips

Min Deposit $50

Regulation ASIC

✓ Raw spreads from 0.0 pips✓ Low $50 minimum deposit✓ Multiple platforms

Read Review Visit Broker →

#11

Admiral Markets

4.3 ★★★★

Trade with the Admirals

Spreads 0.0 pips

Min Deposit $100

Regulation FCA

✓ MetaTrader Supreme Edition (free)✓ Excellent education✓ Wide instrument range

Read Review Visit Broker →

#12

Eightcap

4.1 ★★★★

Trade with the Best

Spreads 0.0 pips

Min Deposit $100

Regulation ASIC

✓ Raw spreads from 0.0 pips✓ TradingView integration✓ Fast execution

Read Review Visit Broker →

#13

Titan FX

4 ★★★★

Zero Point Technology Trading

Spreads 0.0 pips

Min Deposit $200

Regulation VFSC

✓ Zero Point execution technology✓ Raw spreads from 0.0 pips✓ No dealing desk intervention

Read Review Visit Broker →

View Full MT4 Broker Comparison Detailed fee breakdowns, execution speeds, and EA compatibility →

What is MetaTrader 4?

MetaTrader 4 (MT4) is the world's most widely used retail forex trading platform. Developed by MetaQuotes Software and released in 2005, it has become the industry standard for forex and CFD trading with over 16 million traders worldwide.

Simply put, MetaTrader 4 is a trading platform that provides retail traders leverage and access to a wide array of tools for trading. With these tools, you can build and develop a sophisticated trading algorithm, or simply use the platform for day-trading financial instruments offered by your broker.

MT4 is popular because it combines powerful charting tools, technical analysis capabilities, and automated trading through Expert Advisors (EAs) in one user-friendly package. It's available for free through any MT4-supporting broker.

Important: MetaTrader 4 is not owned by a brokerage, nor is MT4 a broker. It's a third-party platform that brokers license to allow trading. Brokers pay MetaQuotes to use the software, which allows their systems to trade via the platform.

MetaTrader 4 Summary

Traders love MT4. It's been around since the very beginning of retail trading, and for that reason, it has a huge following. There are a large number of addons, customisations and Trading Robots, known on MT4 as "Expert Advisors" (EAs).

There's the ability to add trading signals and more, all specifically built for MT4. These addons are cross-compatible with MT5, but MT5 doesn't offer a great deal different, so many traders have decided to stick with what they know, which has kept MT4 as the popular choice.

Development and support will eventually end on MT4 and MetaQuotes will force brokers and users to make the switch to MT5, in most cases reluctantly. However, for now, MT4 remains the dominant platform.

MT4 Quick Facts

Released: 2005
Developer: MetaQuotes Software
Cost: Free
Best For: Forex, EAs, CFDs
Platforms: Win, Mac, Web, Mobile
Users: 16+ Million

Start Trading on MT4

AvaTrade offers MT4 with:

Multi-regulation (FCA, ASIC)
0.9 pip spreads
Full EA support
Welcome bonus available

Get AvaTrade Partner Code

Should You Use MetaTrader 4?

Based on 28+ hours of research, expert reviews, and hands-on testing, here's what traders think:

✅ 7 Reasons To Use MetaTrader 4

MetaTrader 4 is the most popular trading terminal in the world
Traders are very familiar with the combination of a user-friendly interface and an advanced charting package that comes "out of the box"
The ability to create and use automated trading programs (Expert Advisors) make MT4 a firm favourite among retail traders
Traders managing multiple accounts simultaneously benefit from MT4's multi-account support
Mobile trading is seamless with MT4, allowing real-time account control from any device
Over 15+ years in retail trading means a huge online community with tools, plugins, tips and guides
Free to download and use with any MT4 broker

⛔ 1 Reason Not To Use MetaTrader 4

MetaTrader 4 has a newer version, MetaTrader 5. MT5 is still not as popular (despite being released in 2010). MetaQuotes does not allow new brokers to license MT4, and will eventually stop offering support for MT4 to current brokers, who will be forced to make the switch.

MetaTrader 4 Key Features

MT4 is a feature-packed trading platform. Here's how it performs across key areas:

Feature	MetaTrader 4 Performance
⏱ Responsiveness	With a fast connection (VPS) MT4 rivals institutional trading systems
📱 Devices	Desktop, Mobile, Tablet (PC, Apple, Android)
📈 Charting	Simplicity and flexibility are key to MT4s charting popularity
🏪 Ease of Use	Beginner to Advanced – MT4 can get as complex as needed
📰 News	News and event updates in the MT4 Terminal
🤖 Automation	Entire library of Expert Advisors and signals to plug-in
🗺 Coverage	The world's most popular trading platform
🖥 API	MT4 API connects any platform to an MT4 server of a broker
💰 Cost	MetaTrader 4 is Free to download

MT4 Trading System

MT4 is built with a robust trading function that allows you to implement complex trading algorithms:

Instant execution
Two market orders
Three execution modes
Two stop orders

MT4 Analytics

MT4 has over 20 analytical objects and 30 built-in technical indicators (excluding add-ons):

30 technical indicators
23 analytical objects
Nine timeframes
Interactive charts

MetaTrader 4 Features In-Depth

Click each feature to learn more about what MT4 offers:

📋 Copy Trading

Don't have enough time for trading across the full day? No problem – MetaTrader 4 has trading features that allow you to copy the trades of other traders automatically.

All you have to do is select a provider, then subscribe to the provider's trading signal or strategy on the platform. Thousands of traders make high-profit trades from this practice, and you can do it too.

It's a service that's very popular for traders looking to expand their trading volume or take a more "hands-off" approach to trading.

Broker Tip: eToro specializes in copy trading with their CopyTrader feature. For MT4 signals, AvaTrade offers excellent integration.

🏪 The MT4 Built-In Market

If you're looking for more technical indicators on your chart, you don't have to exit MT4 to find them.

MT4 has a built-in market where you can purchase more than 1,700 trading robots and Expert Advisors. You can also add to your indicators arsenal with the over 2,100 technical indicators that MetaTrader 4 provides.

The best part? Many are absolutely free!

Access the marketplace directly from MT4 by clicking the "Market" tab at the bottom of the terminal window.

🤖 Algorithmic Trading & Expert Advisors

MT4 became popular mainly due to the ability for end-users to write their own trading scripts and robots (Expert Advisors) that could automate trading. This is a key feature of the platform.

Once you're familiar with your MT4, almost anything you want can be implemented on it. You can leverage the opportunities provided by the Expert Advisors for automated trading. The Expert Advisor features robots that assist with both market forecasting, market analysis, and trading.

MetaTrader 4 also provides you with the perfect environment for testing, developing, and optimizing new trading algorithms for all your trades on the market. You can post applications in the free code library or even sell them in the big-scale MetaTrader 4 market.

Broker Tip: For running EAs 24/7, you'll need a VPS. AvaTrade and Axi offer free VPS hosting for qualified traders.

📰 Financial News Reports

MetaTrader 4 also sends out the latest financial news that presents MT4 users with the opportunity to modify their trades based on high-impact news events that might alter the accuracy of their technical analysis.

This feature allows traders to always be on alert for whatever might arise in the market. Access news directly from the Terminal window in the "News" tab.

For more comprehensive news and economic calendar data, consider upgrading to MT5 which has a built-in economic calendar.

📱 Mobile Trading

MT4 is not only available for your personal computers. The trading platform is also available on mobile. This allows you to analyze market trends, follow up on technicals, open positions, and close them in real-time.

No matter where you are, no matter where you're going, you're always a few clicks away from the world's largest market.

The mobile apps are available for both iOS (iPhone/iPad) and Android devices, offering nearly all the functionality of the desktop version.

📊 Advanced Charting

The MT4 provides you with an opportunity to analyze markets simultaneously. With MT4's advanced charting options, you can keep your eye on another currency pair or commodity without losing focus on any.

Chart types include candlesticks, bar charts, and line charts. You can customize colors, add multiple indicators, draw trend lines, Fibonacci retracements, and much more.

MT4 supports 9 timeframes: M1, M5, M15, M30, H1, H4, D1, W1, and MN (monthly). Each chart is fully interactive and customizable.

🌍 Language Options

Besides the fact that anybody can use the MT4 regardless of their skill set, anybody can also use the MT4 regardless of their language.

MetaQuotes Software designed the platform with language options to allow users from the most remote regions of the world to enjoy access to the Forex market. MT4 supports over 30 languages.

📜 Account History

You can keep track of all your transactions on MT4 with the account history tab. Know what transactions you carried out on your MT4 and when.

The history includes all closed trades, deposits, withdrawals, and can be exported to detailed reports for tax purposes or performance analysis.

Download MetaTrader 4

MT4 is free to download. Choose your platform:

Note: MetaQuotes now promotes MetaTrader 5 as their primary platform and has stopped licensing MT4 to new brokers. The official metatrader4.com website now redirects to MT5. However, many brokers still offer MT4 to existing clients, and you can download MT4 directly from your broker's website after opening an account.

🖥️

MT4 for Windows

Archived direct download (standalone installer)

Download from Archive → 🍎

MT4 for iOS

iPhone and iPad app from App Store

Download for iOS → 🤖

MT4 for Android

Android app from Google Play Store

Download for Android →

Recommended: Download MT4 directly from your broker for the best experience. Brokers like AvaTrade and Axi provide pre-configured MT4 installers that connect directly to their servers.

System Requirements

Windows: Windows 7 or later, 50MB disk space
Mac: macOS 10.12 or later (via Wine or broker's Mac version)
iOS: iOS 12.0 or later
Android: Android 5.0 or later

Getting Started with MetaTrader 4

Follow these 5 steps to start trading on MT4:

Download & Install MT4

Click the download link for your device (PC, Mac, iOS, Android). Run the installer, accept the terms, and wait for installation to complete. The process takes under 2 minutes.

Set Up Your Demo Account

After installation, MT4 will launch automatically. Go to File → Open an Account, select a broker, and register for a demo account. You'll need your name, email, and preferred account settings.

Customize Your Workspace

Set your preferred chart type (candlesticks, bars, or lines), choose your timeframe, and select a color scheme. Use the View tab to toggle toolbars, the market watch window, and navigator panel.

Add Indicators

Go to Insert → Indicators to access 30+ built-in indicators. Popular choices include Moving Averages, RSI, MACD, and Bollinger Bands. You can also download custom indicators from the MT4 marketplace.

Place Your First Trade

Open the order window by pressing F9 or right-clicking a chart. Select your lot size, set stop loss and take profit levels, then click Buy or Sell. Start with small positions while learning.

Ready to start? Open an account with AvaTrade to get MT4 plus a welcome bonus, or compare all MT4 brokers.

MT4 Keyboard Shortcuts

Speed up your trading with these essential shortcuts:

F9 Open New Order window

F10 Open Popup Prices window

F11 Toggle Full Screen mode

Ctrl+T Toggle Terminal window

Ctrl+N Toggle Navigator window

Ctrl+M Toggle Market Watch window

Ctrl+D Toggle Data window

Ctrl+G Toggle Grid on chart

Ctrl+I Open Indicators list

+/- Zoom In/Out on chart

How to Choose an MT4 Broker

Not all MT4 brokers are equal. Here's what to look for:

Regulation

Choose brokers regulated by tier-1 authorities like FCA (UK), ASIC (Australia), or CySEC (EU). This ensures fund protection and fair practices.

Spreads & Fees

Compare spreads on major pairs like EUR/USD. ECN brokers offer raw spreads from 0.0 pips but charge commission. Standard accounts have wider spreads but no commission.

Execution Speed

For scalping and EA trading, execution speed matters. Look for brokers with servers close to your location and low latency.

EA Policy

Not all brokers allow all EAs. Check if your broker permits scalping EAs, news trading, and high-frequency strategies.

MetaTrader 4 FAQ

What is MetaTrader 4?

MetaTrader 4 (MT4) is the world's most popular forex trading platform, developed by MetaQuotes Software in 2005. It offers advanced charting, technical analysis tools, automated trading via Expert Advisors (EAs), and is available on desktop, web, and mobile devices. MT4 is not a broker – it's a third-party platform that brokers license to provide trading access to their clients.

Who owns MetaTrader 4?

MetaTrader 4 is owned by MetaQuotes Software Corp, the company that developed it. Brokers pay a licensing fee (around $100,000 upfront plus $15,000+ monthly) to offer MT4 to their clients. MetaQuotes provides the server infrastructure while brokers control the trading conditions.

Is MetaTrader 4 a broker?

No, MT4 is not a broker. It's a trading platform that brokers use to connect traders to the markets. Brokers that primarily use MetaTrader are often called "MetaTrader Brokers". You need to open an account with a broker to use MT4 for live trading.

Which broker has the best MT4?

For 2026, AvaTrade offers one of the best MT4 experiences with multi-regulation (FCA, ASIC, CySEC), competitive spreads from 0.9 pips, and excellent EA support. Axi is ideal for ECN trading with raw spreads from 0.0 pips on MT4.

Is MT4 free to use?

Yes, MT4 is completely free to download and use. You get the platform for free when you open an account with any MT4 broker. There are no platform fees – brokers make money from spreads and commissions on your trades, not from the platform itself.

Can I use MT4 on Mac?

Yes, MT4 works on Mac. Most brokers offer either a native Mac version or recommend using Wine/PlayOnMac. You can also use MT4 WebTrader which runs in any browser without installation, or the MT4 mobile app on iPhone.

What is an Expert Advisor (EA)?

An Expert Advisor (EA) is an automated trading program that runs on MT4. EAs can analyze markets, generate signals, and execute trades automatically based on pre-programmed rules. You can create your own EAs using MQL4 programming language, download free ones from the community, or purchase premium EAs from the MT4 marketplace.

MT4 vs MT5 – which is better?

MT4 is better for forex-focused trading and has wider EA compatibility with a larger community. MT5 offers more timeframes (21 vs 9), a built-in economic calendar, depth of market, and supports more asset classes including stocks. Most forex traders still prefer MT4 for its simplicity and established EA ecosystem, but MT5 is gaining ground.

My MT4 is displaying an "Invalid Account" error

This usually means incorrect login details. Double-check your account number, password, and server selection. Make sure you're using the correct server (demo vs live). If you've forgotten your password, check your registration email or contact your broker's support team.

What time does MetaTrader 4 display?

MT4 displays the broker's server time, which varies by broker. Most brokers use GMT+2 or GMT+3 (depending on daylight saving). This server time determines when daily candles open and close. You can check your broker's server time in the Market Watch window.

How do I change my MT4 password?

Go to Tools → Options → Server tab. Click "Change" next to the password field. You'll need your current password to set a new one. For security, use a strong password and don't share it with anyone.

Can I run multiple MT4 instances?

Yes, you can run multiple MT4 instances on the same computer. Install MT4 to different folders (e.g., MT4_Broker1, MT4_Broker2) and you can run them simultaneously. This is useful for trading with multiple brokers or managing different strategies.

Ready to Start Trading on MT4?

Get exclusive bonuses when you sign up through TradeTheDay. MetaTrader 4 is free to download and use with any of our recommended brokers.

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