Comparing 11 Best Metatrader 4 (MT4) Brokers In 2023

MetaTrader 4 is an all-in-one trading software launched in the year 2005, and soon it rose to the most popular trading platform with its simple yet sophisticated features. The timely updates and advancements have helped MT4 to secure its spot as the standard forex trading platform.

MT4 is still the number one trading software in terms of usage and user-friendliness which makes it the first choice of a vast majority of traders. These days there are many new platforms that are competing for the place of this traditional trading platform. Still, MT4 is standing strong with its unique capabilities and hence many forex brokers have integrated MT4 into their platforms as well.

Regardless of so many trading platforms, the MT4 platform still remains the top choice among traders due to its simplistic design and all the necessary charts and indicators. Let’s find out the best MT4 brokers available for traders:

1. Fxview

The very first broker that we will be reviewing for those who trade MT4 is Fxview. This reputed broker holds licenses from different global authorities which makes it a reliable forex and CFDs trading platform for traders around the world. This is a CySEC-regulated broker that allows trading a wide range of instruments, including forex, crypto, stocks, commodities, and indices, all via CFDs. Now let’s have a look at the solid trading conditions they offer.

• Raw ECN accounts with tight spreads that go as low as 0.2 pips.
• The commission per side for a trade is $1/100K.
• The minimum deposit requirement for EU traders is $200 and $50 for global traders.
• Offers maximum leverage of 500x.
• VPS services for a monthly charge of $25 only.
• API trading and copy trading are allowed.
• Also, offer MT5 and ActTrader in addition to the MT4 trading platform.

2. FxPro

The second spot in our list of broker platforms where you get to trade MT4 is FxPro. This well-known broker has multiple licenses and regulations, making it a trustworthy trading platform. This FCA-regulated broker offers a number of popular trading instruments in different asset classes such as forex, shares, futures, spot metals, spot energy, spot indices, and crypto. Let’s look into their pricing and other features they offer.

• Spreads starting from 0.9 pips with no dealing desk execution.
• A commission of $3.5/100K per side on raw spread accounts.
• Also, offer commission-free accounts with marked-up spreads.
• Minimum deposit of $100
• VPS services can be used.
• Provides its own exclusive trading platform in addition to MT4, MT5, and cTrader.

3. IC Markets

IC Markets is a well-established and experienced forex broker which makes it the third top broker in our list of MetaTrader brokers. They are regulated and licensed by different global authorities as well. This ASIC-regulated broker offers a number of instruments like futures, bonds, stocks, and digital assets CFDs in addition to forex currency pairs.  Now, let’s have a look at their fee structure and other features in detail.

• Raw spreads start from 0.2 pips and standard spreads from 0.6 pips with ECN pricing.
• Commission on raw spreads accounts is $3.5/100k per side and standard accounts are commission free.
• The minimum deposit required is $200.
• Up to 1000x leverage can be availed.
• Copy trading is allowed.
• They also provide MT5 and cTrader in addition to the MT4 platform.

4. XM

The fourth broker in our list of best MT4 forex trading brokers is XM. This broker is regulated by different top-tier authorities around the world which makes it a trusted choice among traders. This FSC-regulated broker offers a variety of trading instruments including forex, stocks, commodities, indices, energy, precious metals, and crypto. Let’s dive into the trading conditions and other features offered by them.

• Floating Spreads starting from 0.6 pips.
• The zero account type has a commission of $3.5/100k per side.
• The minimum deposit requirement is $5.
• Maximum leverage up to 1000x.
• They also provide their own trading platform and MT5 trading platform in addition to trading MT4.

5. Pepperstone

Next on the list is Pepperstone, which is another well-known broker that is regulated by a number of global authorities like FCA, ASIC, etc., which makes it a secure trading platform. They offer several instruments to trade like forex, shares, commodities, indices, ETFs, and cryptos. Let’s check the spreads and commission charges along with other features offered by this platform.

• Spreads starting from 0.8 pips with no dealing desk execution.
• Razor accounts have a commission of $3.5/100k per side.
• The minimum deposit requirement is AUD $200.
• The maximum leverage offered is 500x.
• Other than MT4 trading, they also offer MT5 and cTrader with Tradingview connection.
• API trading and copy trading are allowed.
• VPS hosting services are provided.

6. FXTM

The sixth-best broker with an MT4 platform integration on our list is FXTM. They are licensed and regulated by different authorities as well. This FSC-regulated broker offers trading instruments like stocks, commodities CFDs, indices, and spot metals along with forex currency pairs. Let’s see the trading conditions and other features of this platform.

• Spreads start from 0.1 pips which vary based on account type.
• Volume-based commission ranges between $0.4 – $2.
• The minimum deposit requirement is $10.
• Max leverage up to 2000x.
• They offer MT5 as a second trading platform in addition to MT4.
• Copy trading and signal services are allowed.
• VPS services are available.

7. Tickmill

Tickmill is the seventh one on our list of best MetaTrader brokers. This popular broker is also regulated by various tier-1 authorities making it a trusted platform for MT4 trading. This FCA-regulated broker offers forex, cryptos, stocks, bonds, indices, precious metals, and energy as trading instruments. Now we will have a look at their trading conditions for clarity.

• Spreads start from 0.1 pips which differ based on the account type selected.
• Commission can be $1 or $2 per side depending upon the account type.
• They offer MT5 and web traders other than the MT4 platform.
• The minimum deposit requirement is $100.
• The maximum leverage offered is 500x.
• Copy trading is allowed.
• VPS services are provided.

8. FXCM

The eighth broker that we are going to review for the best forex brokers with MT4 platform integration is FXCM. This top broker is also regulated by multiple authorities which makes it a popular choice for MT4 trading. This ASIC-regulated broker offers a number of trading instruments including forex, crypto, commodities, share, and indices CFDs.

• Spreads start from 0.8 pips and have no commission. 
• Copy trading and API trading are allowed.
• Can avail leverage up to 400x.
• The minimum deposit requirement is $50.

9. AvaTrade

Ninth on our list is AvaTrade. Another ASIC-regulated broker offering MT4 platform integration for trading. They have a number of other regulations as well which makes them a trusted choice among global traders.

• Spreads start from 0.9 pips and have no commission.
• The minimum deposit requirement is $100.
• You can also use their own trading platform in addition to MT4 and MT5 platforms.
• Copy trading is allowed.
• Maximum leverage is 400x.

10. HFM

For the penultimate position, we’ve got HFM, which was previously known as Hotforex. This CFD broker is also regulated by reputed authorities like FCA which makes it a trusted platform to trade MT4.

• Spreads start from 0.2 pips which vary based on the account type you opt for.
• The minimum deposit requirement is $5.
• Max leverage one can avail is 1000x.
• PAMM account and copy trading is available.
• They provide their own trading platform along with MT4 and MT5.

11. Roboforex

Last but not the least, we have Roboforex on the list. Another well-known broker regulated by top authorities like FSC. They also provide a welcome bonus of $30 to traders who are new to the platform.

• Spreads starting from 0.2 pips.
• $2/100k per side commission on every trade.
• They offer MT4, MT5, and cTrader as trading platforms along with their own trading platform.
• The minimum deposit requirement is $10.
• Copy trading is available.

With that, we conclude our go-to guide to MT4 brokers with the top 11 forex brokers of 2023. We hope this list will be useful to everyone who is looking for an ideal broker that supports the MT4 trading platform. In the end, the best way to choose the best broker is by comparing the trading conditions offered by each of them and weighing them based on your trading style or trading plan. You can also open demo trading accounts with different brokers to test their trading conditions in real-time. This will be a good way to get familiar with the platform and features before going live.

So, take your time to choose the most suitable broker, and feel free to add your broker suggestions or queries in the comments.