Best Metatrader 4 Brokers

Find the best brokers with metatrader 4 platform

Today Metatrader 4 is one of the most complete trading platforms used by retail traders to trade on the Forex market and with Contracts for Difference (CFDs) thanks to its many advantages. It is a downloadable application used by literally millions of traders and dozens of large and small brokers.

Forex is the largest market in the world, moving millions of currencies every second and globally. If you already invest in Forex or are considering it, you will certainly come across Metatrader 4 (and 5) when looking for a broker and/or trading platform to trade with.

Metatrader 4 (MT4 for friends) has earned itself the title of “the most used and popular trading platform in the world”, with hundreds of thousands of users who are part of its community and trade with its software. Do you want to know why trailers use MT4? We explain it all to you below..

What exactly is Metatrader 4?

Metatrader4 (MT4) is an electronic trading platform developed by MetaQuotes Software. Since its launch in 2005 the program has undoubtedly become the most popular tool for investing in Forex, a market for which it was specially designed(although it also offers CFD and futures trading).

Today, despite the powerful investment software that makes it so competitive, MT4 remains the platform of choice for millions of users and its presence is virtually mandatory for any reputable broker.

In 2010, MetaQuotes launches what would be the new MT4 trading and relay platform, the Metatrader 5 (Find here Best MetaTrader 5 Brokers). However, this program has never enjoyed the same popularity as its predecessor and many traders prefer to continue trading today with the old version. Here you will find a list of brokers with Metatrader 4 in Spanish

 

How much does Metatrader 4 cost?

It depends on for whom. For the client it is free, that is to say that the broker with whom we trade and who provides us with this trading tool, is the one who really pays for the MT4 service.

Metatrader offers the broker who wants to work with them, the possibility of renting their platforms, either in version for Android mobile phones, or for computer.

Depending on the functions chosen by the broker in question, you will have to pay an initial fee plus a monthly rent. The rent will depend on how many functions, accounts and products the broker wants to offer his clients.

Do I need to download MT4 to trade with my broker?

Generally, most brokers will offer you the possibility to trade from the mt4 WebTrader. This is nothing more than trading within the broker’s website, without having to download the platform.

The investor password is a type of password given to us by MT4. We can have passwords so that other users can see our operations without having to give them the real password.

This prevents them from trading on our trading account, but they can see all the trading history and open trades live and in real time. Myfxbook needs to verify the accounts and to do this, it asks us to change some read-only passwords.

Can I use Metatrader 4 on my Android phone?

Despite the fact that version 4 of Met atrader has been on the market for several years, it still continues to gain followers, this is because it is a very well projected tool for the future, which ensures adaptation to new technologies. Such is the case of mobile devices.

MT4 is not only limited to computer operating systems, such as Mac or Windows, but also supports smartphones and tablets.

This gives the operator a great advantage, being able to manage several accounts, using a single interface from multiple devices.

App trading allows traders to place orders instantly, without the limitations of a computer (don’t). You will also be able to make a graphic visualization of the different assets. In my case I use the app to track my automated systems.

The first step before being able to start accessing from your Android phone, is to download from apple store or market place your Metatrader 4 app in Google Play store. You can use it with real money or in case you are starting with your free broker’s account.

Can I use Metatrader with Mac or IOS?

I ask this question because many users may encounter the same problem that I did.

A few years ago, in order to install the program on a Mac, we had to trick the operating system into installing it. Even after installing it, it sometimes caused a loading problem.

In 2020 Metatrader 4 is available for Mac in most brokers.

Given the difficulty that many clients had in wanting to operate, they decided to look for ways to adapt the program for Macs. Even so, to say that as in windows it does not work on Mac, since it sometimes gets hung up.

Is it safe to use Metatrader 4?

The MetaTrader 4 platform meets the highest security standards. The data exchanged between the client and the platform’s servers is encrypted. The platform additionally supports the use of RSA digital signatures. You can rest assured that your trading accounts are securely protected!

MetaTrader 4 is provided with an amazing set of advanced trading and analysis features. The platform provides a user-friendly interface to help you easily understand all the functions and trading principles. You will only need a few minutes to start using it.

How do I automate my trading with Metatrader?

Metatrader4 is the favourite platform of many forex traders in the world, thanks to the many possibilities it offers, including automated trading.

The idea of automating your trading is a reality with MT4. Data from sources of the NYSE and NASDAQ stock exchanges, show the massification in the use of technological tools, of the automation for trading, with a growth of 75% since 2013.

The big advantage is that it is not only a possibility for the world’s big traders, but it is also within the reach of retail traders.

In fact, Metatrader 4 is really prepared to automate the processes, since it has its own programming language, oriented to give instructions to the system, regarding the trading strategies to be implemented, for the best results.

By trading under MQL4, as a proprietary programming language, the trader using this platform adds significant competitive advantages over other investors. In addition, as we see in the academy, there are tools for automated trading without the need to program or touch a line of code.

Metatrader 4 has more than 30 customized indicators, making it easy to identify price patterns, trends and signals.

We have already talked about the possibilities of automation in MT4, however, there is an advantage, which will allow you to greatly increase your chances of making money in trading, making a minimum effort. This is by using a plugin of expert advisors.

Expert Advisors are automated programs whose specific function is to monitor market and currency pair activity for you, looking for market signals where you can make profits when trading.

Most expert advisors are not free, so you’ll need to buy one before you can start enjoying the benefits. Wrong, most are made up or over-optimised. At the academy you can learn how to create your own and manage them. Don’t let them give it to you.

To install an EA, you need to copy and paste it into the correct folder, so that the MT4 will be able to recognize it.

Go to the Metatrader 4 main menu by clicking on “File”, followed by the sub-menu “open data folder”.

There you must locate the MQL4 folder and then select the “Expert” folder. Once inside, paste your expert advisor. You must restart Metatrader 4, to be able to recognize the file.

You will then be able to see your installed expert advisor in the browser window, within the list for that category.

You can find some other related details, in the “options” menu and then you must select the “expert advisors” tab.

There you will find the boxes, which will allow you to enable the automated operation. To do this, you must check the box “allow automated trading“.

However, there are other options, which will allow you greater security, in case you only want to make use of automation in your demo account and not in real trading.

Another quick way to activate or deactivate, the automated use of expert advisors, is by clicking the “Autotrading” button on the MT4 toolbar.

You can also attach the expert advisor to the chart. To do this, right-click on the advisor and select “attach to chart” from the drop-down menu.

First you must decide what type of operations you will make use of your expert advisor for, in addition to allowing or not allowing live operations.

Once you have activated the use of expert advisors, you will see their name marked in the top right-hand corner of the graph, along with a smiling face emoji, if enabled. Otherwise, it will be shown with a sadface.

Remember that it is important to know, that once an expert advis or is attached to a chart and replaced by a new one, the expert advisor will remain active. In case you decide to remove it, just close the chart window.

By making intelligent use of expert advisors, you can get great help, so that you can add up profits by trading.

Why negotiate with Metatrader? The advantages

• Metatrader 4 is a totally free tool (you don’t need to make a minimum deposit, as is the case with MT5). Precisely because of this, among other things, its acceptance has been massive by brokers and clients. Thus, you can download the software directly from your broker’s website on the official Metatrader site.
• You will be able to use market, pending, stop and trailing stop orders.
• The type of execution is instantaneous.
• The best of Metrader 4: technical analysis through more than 30 built-in indicators, more than 2,000 user indicators (you can download them for free from their Code Base library) and 700 paid indicators.
• Unlimited interactive char ts (you can open as many charts as you want at once) from which you can trade directly. On them you can configure up to 23 analytical objects: lines, channels, Gann instruments, Fibonacci, figures, arrows, etc.
• You can try out almost any trading strategy with Expert Advisors (or trading robots) and let them trade for you automatically.
• If you prefer to develop your own solutions, you can create your indicators and Expert Advisors through the Metaeditor editor embedded in the platform and with the MQL4 programming language (don’t worry, you don’t have to be an expert). Once you have created any application, you can use it in your strategy, upload it to the free code library and even see it on the Metatrader Market.
• The huge amount of users that use Meta trader 4 has generated a very active community of traitors that revolves around the platform. Thanks to this, you can find feedbacks on practically any topic or doubt that arises as well as make use of thousands of technical indicators and trading robots (free and paid) in the world’s largest shop of trading applications, the Metratrader Market, incorporated into the platform.
• You can automatically copy the successful trades of other traders in real time (known as copy-trading) for free or by hiring a signal provider for a reasonable price. All you have to do is “subscribe to their signal” and start trading.
• Access to alerts and financial news received directly on the platform.
• MT4 has different versions depending on the device: downloadable software for Windows, Webtrader and mobile apps (Metatrader 4 mobile) and tablets for Android and iOS (they are very complete).
• You can have two real accounts and as many demos as you want (with fictitious money to practice).

The disadvantages of using MT4

• The software consists of two components: a provider (the broker) who is responsible for executing the operations and arranging the services; and a client (the trader) who is based on a Microsoft Windows application. Precisely because of this, there is no official version of Metatrader 4 for Mac and those investors who prefer to work with Apple have to take a detour to get the program installed on their computer: for example, use Play or Mac to run Wine and therefore MT4. Furthermore, even if it works, you will be subject to changes and updates in Windows, which usually causes problems.
• You cannot view other markets, only those that your broker trades with. For example, if your broker only offers CFD trading on Forex and commodities, you will not be able to view ETF markets.
• Although you can program your own robots and indicators, you can only do so in the available programming language, MQL.

How to download Metatrader 4 and start trading?

You can download the software directly from your broker or from the official Metrader website. Installation is not a problem, unless you use a Mac, in which case we recommend you follow the MT4 for Mac tutorials in the Metatrader forum.

However, both to test the program and to start investing, you will need to open an account.

How do I open a MT4 demo account?

To test the trading platform you have 2 options:

1. • Open a demo directly on MT4’s official website. To do this you must download the program and install it on your computer (you cannot access the Webtrader).

• • Start the webtrader or download the software directly from your broker or open a demo account with any broker that offers MT 4 apart from its own platform (if it has one).

How do I open a live account at MT4?

If you prefer to open a live account directly and start investing, you have no choice but to register with a brokerage service. Remember that Metatrader is only a software, while the broker is the intermediary that will launch the orders on your behalf, show you the prices in real time, news, etc. among other services.