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.
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.
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FCA & CySEC Regulated Forex Broker with Raw Spreads from 0.0 Pips
Learn MetaTrader 4
Step-by-step guides for getting more out of MT4, from data and backtesting to indicators and automation.
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.
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.
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.
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:
MT4 for Windows
Archived direct download (standalone installer)
Download from ArchiveMT4 for iOS
iPhone and iPad app from App Store
Download for iOSMT4 for Android
Android app from Google Play Store
Download for AndroidSystem 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.
MT4 Keyboard Shortcuts
Speed up your trading with these essential shortcuts:
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?
Who owns MetaTrader 4?
Is MetaTrader 4 a broker?
Which broker has the best MT4?
Is MT4 free to use?
Can I use MT4 on Mac?
What is an Expert Advisor (EA)?
MT4 vs MT5 – which is better?
My MT4 is displaying an "Invalid Account" error
What time does MetaTrader 4 display?
How do I change my MT4 password?
Can I run multiple MT4 instances?
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.