MetaTrader 4 is one of the most well-known trading platforms which offer a fully automated trading experience. It allows users to execute trades without the need to spend countless hours staring in front of the trading terminal. As one of the oldest trading software programs in existence, it comes as no surprise that a majority of today’s online forex brokers have started integrating it to provide a better user experience. MetaTrader 4 allows users of every background to trade efficiently, including users who prefer a hands-off approach and other users who are more into manual trading. To better understand the brokers that fall under this category, we’ve come up with a list of 4 of the Best FX Brokers that work with MetaTrader 4.
1. XM Group
Founded in 2009, XM is a multi-asset broker which offers users access to 1,230 CFDs across multiple asset classes, including forex, along with 100 exchange-traded securities (non-CFDs). You have the option of opening any one of four account types – commission-free micro and standard accounts, the commission-based XM Zero account, and the XM Ultra-Low account. It is also known for creating daily forex content, including educational resources. Apart from this, the broker’s news section allows you to filter content by asset classes, making it easier to find articles about forex, indices, stocks, and cryptocurrencies.
FXPrimus is a broker and market maker with lower entry requirements than a normal ECN broker benefitting from a higher volume of trades. This MetaTrader 4 compatible broker claims to have no requites, which means users do not have to worry about slippage. With a low minimum deposit requirement, the broker allows hedging and scalping along with STP. You can fund your account on FXPrimus using credit cards, bank transfers, Payoneer, and Neteller. The broker offers seven types of accounts: demo account, micro account, mini account, standard account, ECN account, managed account, and Islamic account. It is regulated by CySEC and MiFID and holds a triple AAA support rating.
Founded in 2002, XTB is a publicly traded multi-asset broker regulated by Financial Conduct Authority (FCA). With XTB, you can access CFDs on 3900 stocks and ETFs, 22 commodities, 42 indices, 25 cryptocurrencies, and 49 forex pairs. Other offerings include almost 7800 non-leveraged cash equities, including 150 ETFs. The broker provides its own xStation 5 platforms in addition to MetaTrader 4. This proprietary platform provides a seamless trading experience across different devices, complemented by a versatile stock screener and sentiment analysis. It provides 29 drawing tools and 37 technical indicators along with its charts.
Founded in 2009, RoboForex is a multi-asset broker which both CySEC and IFSC regulate. Based out of Belize, this broker provides access to eight asset Classes with forex, stocks, indices, ETFs, soft commodities, energies, metals, and cryptocurrencies. It also supports a variety of trading platforms besides MetaTrader 4, including MetaTrader 5, cTrader, and RTrader. It provides much-needed flexibility in their deposit methods, as it accepts USD, EUR, RUB, CNY, GOLD, and BTC as base currencies. It offers six account types, namely Pro-Standard, Prime, Pro-Cent, ECN-Pro, and R Trader.
With many online brokers in the market, it can get quite confusing for a novice to make a well-informed decision. While using MetaTrader 4 assures that your trading is done the right way, the efficiency and effectiveness of trading depend on the broker you choose. That is why it is important to check all the necessary facets, such as trading history, the background of developers, and regulations, before investing with a broker. A good practice is to try out a demo account that most brokers offer before getting committed to a particular broker.
Featured Photo by Nataliya Vaitkevich from Pexels