A forex broker needs a legal license from the developer to offer MT4 as a customer. But, some forex brokers need proper regulation in the countries to offer the best MT4 forex brokers for trading in which they regulate, so it is important to select trustworthy MT4 brokers.
Suppose any broker that offers the MetaTrader 4 trading software can be considered an MT4 broker. MetaTrader 4 belongs to a comfortable genuine escort of trading platforms. It was established by MetaQuotes Software Corp. for mobile, web, and desktop computers online.
In this post, we outlined the best MT4 forex brokers in 2022 with an explanation of the broker company. Let us see if MT4 brokers are legal in detail.
Best MT4 Forex Brokers In 2022 – Top Ranked Brokers
MetaTrader 4, shortly known as MT4, is a Russian electronic trading platform used by online retail foreign exchange speculative traders. It was released in 2005. The software is legally licensed to foreign exchange brokers who give the software to their clients.
The software includes a client and server component.
Server Component– run by the broker.
Client Software– provided to the broker’s customers.
- The client is an MS Windows-based application.
- It became famous due to the ability of end users to write their trading scripts.
In 2010, MetaQuotes released a MetaTrader 5. But, its absorption was slow, so most brokers still used MT4 as of April 2013. There is no official MetaTrader 4 version available for Mac OS, and some brokers provide their custom-developed MT4 variants for Mac OS.
Table of Contents
Best MT4 Forex Brokers In 2022
MetaTrader 4 is an electronic trading platform designed by MetaQuotes Software which has become the gold standard within the forex trading company for trade execution and analysis. MT4 has the ability to link a user’s brokerage account and permits trades to be placed the funds in the trading balance. MetaTrader 4’s call comes from its customizability.
Users can trade on different periods, engage an array of MT4 indicators, backtest, and make technical analysis easy. MT4 even provides several execution types. MetaTrader 4 offers functionality to the best trading robots through Expert Advisors. This feature permits the users to robot copy on MT4, which is helpful for beginners and advanced investors.
MT4 Forex Brokers Company
Trading software in the world is not all perfect. Each is bound to have its strengths and weaknesses, the same as the best MT4 forex brokers trading platform. While MT4 has many advantages, it also has some disadvantages.
Pros
It is easy to deploy.
It is free trading software.
It has third-party support and a good charting package.
Here is the choice to add Expert Advisors.
Cons
E-related programming.
Unsuitable for high-frequency trading operations.
No Custom time frames are available for the charts.
Let’s see the list of top 3 brokers on forex trading,
Capital.com
Capital.com is considered the low-margin rate broker, the world’s most popular trading platform, focusing on CFDs. The FCA, ASIC, and CySEC give oversight to ensure a solid level of investor protection. As a result of this level of regulation, Capital.com is also considered the best ASIC-regulated forex broker on the market.
Capital.com is the best forex copy trading platform and broker for MetaTrader 4 due to its low trading fees. Users can trade over 130 FX pairs with Capital.com, there are no commissions to open an FX trade, and fees are constructed into the spread. This spread is around 0.6 pips for EUR/USD during peak trading. Capital.com offers leverage facilities and the best investment apps on the market, featuring an AI-powered trading service.
In Best MT4 forex brokers, the minimum deposit is $20, which can be deposited by credit/debit card, bank transfer, or Apple Pay. There are no deposit fees and also no withdrawal charges or inactivity fees. We need to trust major currency pairs for trading.
Pros
CFD fees and commissions on real stocks are low.
Excellent account opening experience.
Have good email and chat support.
Cons
Stock index CFD fees are high.
Only UK clients are available for CFD, real stock, and spread betting.
Unavailable smaller account currencies.
XTB
XTB offers convenience while optimizing its charts with advanced tools. This platform enables fast executions and offers the lowest forex spreads in the business. It was established in 2002, though it was referred to as X-Trade. XTB enables traders to use leverage up to 1:30 and access 2100 global markets in cryptocurrencies, stocks, indices, commodities, and ETFs. XTB enables an online brokerage company dealing in FX and CFD to offer Forex, Indices, Commodities, Stock CFDs, and ETF CFDs.
Pros
Choose between xStation 5 or MT4 platforms.
A collection of 3000+ trading instruments.
Have low spreads.
Cons
One or two forex pairs than some top competitors.
There is no 24/7 customer support.
Axi
Axi has won several awards for providing outstanding service on this platform. Axi has won awards for the best forex broker, CFD provider, and EMEA region broker by using MT4. Axi MT4 demo account is valid for 30 days, offers practice trading of up to $50,000, and enables traders to test advanced tools to incorporate into their trading strategies. Traders can access forex, stocks, indices, precious metals, and commodity markets.
The platform is used to provide live pricing and to view market data with live charting options. Traders using MT4 on Axi can connect to their CopyTrading app and enabling them to copy the trades of professionals. Axi provides the most precise New York chart close charts, which made them the best forex broker for MT4 trading.
Pros
Forex fees are low.
There are no withdrawal fees.
It is a fully digital account opening.
Cons
There is only forex and CFD trading.
It has limited research tools.
Online MT4 Forex Brokers In 2022
For online traders, the trading platform is the key trade tool. Today, the commonly used trading platform is the MetaTrader 4, an adopted trading platform by brokers in the forex industry. The mainstream trading platform comes with an in-built scripting language called the MQL4. It is used for algorithmic or automated trading in which traders can create their expert advisors (EAs).
The MT4 trading platform comes with an advanced charting package. The charts support multiple timeframes, and it is familiar with its iron-clad security. It uses 128-bit encryption to offer users a safe and secure trading environment. It allows users to change the language of the user interface. If you are a trader using the MetaTrader4 to trade with, you will need to select a broker that offers this generic platform.
Forex Brokers Company
It was established in 2000. MetaQuotes Software Corp is the developer of Meta Trader 4 software company. The MetaTrader is licensed by brokers and also offered to traders. MT4 is considered one of the most widely-used trading platforms for retail forex and CFDs trading companies.
Investing in stocks is similar to trading currencies because traders select a comfortable broker and create an investment account. At present, many broker companies offer the best MT4 forex brokers for Mac, Windows, or mobile, streaming online for the trading procedure for beginners and advanced investors.
Top MT4 Forex Brokers In 2022
- XM – Best MT4 Education
- Exness – Best MT4 Trading Conditions
- HFM – Best STP Broker on MT4
- IC Markets – Best MT4 for Beginners
- AvaTrade – Best Commission-Free MT4 Account
- IG – Best Regulated MT4 Broker
- Axi – Best MT4 Customisation
FAQ – Best MT4 Forex Brokers
Is MT4 brokers legal?
Yes, MT4 is legal
Who is the developer of MT4?
MetaQuotes Software Corp is the developer of MetaTrader4 software company.
Conclusion- Best MT4 Forex Brokers 2022
In this post, we have explained the best MT4 forex brokers. The forex market can be terrifying with all the decisions a beginner trader has to make. Choosing the trading platform is a challenging task for the beginner trader who cannot do without receiving proper guidance on the MT4 trading platform. The MT4 platform can offer traders a safe and secure trading environment.
