The Best MT4 Trading Platforms: Guide for 2025
Trading is risky and you might lose part, or all, of your capital invested. The information provided is for informational and educational purposes only and does not represent any type of financial advice and/or investment recommendation.
The best MT4 trading platforms for beginners include:
Review: The 11 Best MT4 Trading Platforms
The technical revolution has made trading and investing more accessible than it has ever been. As such, the market is now full of companies offering trading platforms.
Below are 11 of the best MT4 trading platforms for you to consider.
1. Pepperstone
Pros
Is a well-known MT4 platform for copy trading.
Fast execution of trades.
Variety of financial assets, including Forex pairs, commodities, indices, and cryptocurrencies.
Free demo account, allowing traders to practise and test their strategies without risking real money.
Offers educational materials, webinars, and analysis tools to help traders improve their skills and knowledge.
Cons
Customer service is only available five days a week.
Although Pepperstone provides access to some cryptocurrencies, the selection may not be as extensive as specialised cryptocurrency brokers.
Minimum deposit: $200
Pepperstone is a well-known and reputable online forex and CFD broker. It was founded in 2010 in Australia and has since gained popularity among traders worldwide.
It is regulated by top-tier financial authorities, including the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the United Kingdom.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
2. AvaTrade
Pros
Traders have access to a broad range of financial instruments, including Forex pairs, commodities, indices, stocks, bonds, cryptocurrencies, and more.
Offers educational materials, webinars, video tutorials, and market analysis.
Free demo account.
Offers social and copy trading.
20% welcome bonus up to $10,000.
Cons
Some traders find AvaTrade's fee structure complex, as it involves spreads, overnight financing charges, and other fees that can affect the cost of trading.
Due to regulatory requirements, AvaTrade imposes leverage restrictions on certain financial instruments, limiting the amount of leverage that traders can use.
Some users have reported that the withdrawal process with AvaTrade can be slow compared to other brokers.
Minimum deposit: $100
AvaTrade is a well-established online CFD MT4 forex trading platform, founded in 2006.
It has grown to become one of the leading trading platforms in the industry, offering a range of financial instruments and services to traders around the world.
In addition, it is regulated by several top-tier financial authorities, including the Central Bank of Ireland, ASIC, and the Financial Services Commission (FSC) in the British Virgin Islands.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3. ActivTrades
Pros
No minimum deposit.
Offers a choice of trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and their proprietary platform, ActivTrader.
Provides educational materials, webinars, and market analysis to help traders grow and develop.
Offers negative balance protection, ensuring that traders cannot lose more than their account balance in the event of significant market volatility.
Customer support is offered in multiple languages, assisting traders with any inquiries or issues they may have.
Cons
Some traders may find that ActivTrades' research and analysis tools are not as extensive as those offered by other brokers.
Minimum deposit: $0
ActivTrades is a forex and CFD broker established in 2001.
It has grown to become a prominent player in the financial industry, offering a range of trading services to clients globally.
In addition, it is regulated by top-tier financial authorities, including the FCA.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
4. Vantage Markets
Pros
Low minimum deposit.
Offers copy trading.
Offers Smart-Trader add-ons.
Provides negative balance protection and compensation if the broker goes bankrupt.
Cons
Investor protection is only available in the UK.
Limited product offering - Forex, CFDs and crypto only.
The educational materials are lacking compared to other brokers.
Minimum deposit: $50
Founded in 2008, Vantage Markets is a forex MT4 platform that offers over 40 forex pairs.
It is regulated by ASIC, FCA and VFSC, making it safe and reliable.
5. FXCM
Pros
Selection of trading platforms, including MetaTrader 4 (MT4), NinjaTrader, and its proprietary platform, Trading Station.
Provides a variety of educational materials, webinars, and trading guides.
Offers competitive spreads on major currency pairs and other financial instruments.
Provides a good range of research tools, including market screener and charting.
Cons
No fundamental data is available.
Inactivity fees and high bank withdrawal fees.
Customer service is only available five days a week.
Minimum deposit: $50
FXCM (Forex Capital Markets) is a well-established and reputable forex and CFD broker that has been operating since 1999.
It is one of the leading retail forex brokers globally and is known for its user-friendly platforms, educational resources, and competitive trading conditions.
FXCM is regulated by the FCA and ASIC.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
6. XTB
Pros
Provides access to a diverse range of financial instruments, including Forex currency pairs, commodities, indices, stocks, cryptocurrencies, and more.
Competitive spreads on major currency pairs and other financial instruments.
Offers educational materials, webinars, and trading courses.
Cons
Inactivity fee if an account remains dormant for an extended period.
Majority of products are CFDs.
Research tools could be better as only a low number of technical indicators are available.
Minimum deposit: $0
Founded in 2002, XTB is known for its competitive trading conditions, user-friendly platforms, and commitment to customer support and education.
It is regulated by the FCA and CySEC, making it reliable and trustworthy in the UK.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
7. Admiral Markets
Pros
Offers low forex CFD fees.
No withdrawal fees.
Access to a range of financial instruments, including Forex pairs, commodities, indices, EFTs, stocks and cryptos (depending on the account type).
Offers educational materials, webinars, trading articles and a demo account.
Offers negative balance protection, ensuring that traders cannot lose more than their account balance, even during highly volatile market conditions.
Cons
Inactivity fee for infrequent traders and dormant accounts.
Product portfolio mostly consists of CFDs.
E-wallets aren’t available to all customers.
The desktop trading platform is reported to be poorly designed.
There are no price alerts on the web and mobile platforms.
Minimum deposit: $100
Admiral Markets is known for its reliable platforms, competitive trading conditions, and dedication to customer support and education. It was founded in 2001 and is a popular MT4 platform for CFD traders.
Admiral is regulated by the FCA and CySEC.
Investments involve risks and are not suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
8. CMC Markets
Pros
There are low forex fees, no withdrawal fees and no minimum deposit.
The web platform, known as ‘Next Generation’, offers advanced charting tools, technical analysis, and a customisable interface.
Provides excellent research tools, including detailed technical analysis, news feeds and fundamental data.
Offers excellent educational tools such as a demo account, videos and tutorials.
Variety of risk management tools, such as guaranteed stop-loss orders and trailing stops, to help traders manage their risk effectively.
Cons
High stock CFD fees.
The desktop platform is MT4 only, meaning it isn’t as well designed as the New Generation web platform.
Customer service is only available on weekdays.
Only Australian clients can trade real stocks and EFTs.
Minimum deposit: $0
CMC Markets is one of the leading brokers in the market, having been founded in 1989. Its platforms are easy to use and customisable. In addition, it also has a reputation for offering excellent education and research material.
CMC Markets is regulated by the FCA and has withstood several recessions, making it reliable and trustworthy.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
9. Tickmill
Pros
Easy account opening, taking less than a day.
Free deposits and withdrawals and no inactivity fee.
The mobile platform is well-designed and has price alerts.
Access to good research tools such as expert analysis, pattern recognition and an economic calendar.
Excellent educational materials, including a demo account and high-quality videos.
Cons
The web and desktop platforms use an outdated design with price alerts unavailable on the web.
While Tickmill offers some good research tools, the charting tools are poorly designed and there is a limited news feed.
Minimum deposit: $100
Tickmill is an MT4 trading platform that offers great fees for forex traders. It was founded in 2014 and is regulated by the FCA, making it safe and reliable for UK traders.
While the platform is great for forex, it isn’t advised for those wanting to invest in stocks, bonds or funds. For those wanting a diverse portfolio, you would need to use another broker or sign up for additional brokers.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs or our other products work and whether you can afford to take the high risk of losing your money.
10. IC Markets
Pros
Offers a variety of trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.
The account opening process only takes a day.
No inactivity fee.
Low forex, trading and non-trading fees.
Offers access to automated copy trading strategies.
Good selection of education materials, including a demo account, webinars and tutorials.
Customer service is available 24/7 and is reported to have a fast response time.
Cons
Not recommended for long-term traders and investors as it doesn’t allow stock, funds or ETF trading.
Poorly designed web and desktop platforms.
High financing rate for CFDs.
Doesn’t provide any fundamental data.
Minimum deposit: $200
IC Markets is one of the best MT4 trading platforms for trading forex.
It was founded in 2007 and is known for its competitive trading conditions, fast execution speeds, and extensive range of trading platforms.
IC Markets is regulated by ASIC and CYSEC. This means that while the platform is trustworthy, it is not regulated in the UK.
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Please read and ensure you fully understand our Risk Disclosure.
9. FP Markets
Pros
Offers tight spreads, making it attractive to traders seeking cost-effective trading.
Offers low forex and trading fees.
Excellent customer service with fast response times through email and live chat.
Excellent education tools, including a demo account, tutorials and videos.
Easy account opening and access to funding.
Cons
The web and desktop platforms have an outdated design.
There is a limited product portfolio compared to other brokers.
Research tools could be better as there is no fundamental data, poor news flow and basic charting tools.
Minimum deposit: $100
FP Markets is a well-established Australian forex and CFD broker founded in 2005. It has grown to become a reputable broker and is regulated by ASIC and CySEC.
What Is an MT4 Trading Platform?
MetaTrader 4 (MT4) is an electronic trading platform. It is a MetaQuotes Software product designed for brokers and traders worldwide.
MT4 provides a user-friendly interface that allows traders to execute trades. It supports financial instruments, such as Forex, commodities, indices, and cryptocurrencies.
While MT4 has been one of the most used trading platforms for many years, MetaQuotes Software also released MT5.
As a result, some brokers and traders have shifted to MT5. But MT4 remains in use and continues to be popular in the trading community.
With so many apps, brokers and platforms to choose from, finding the best MT4 trading platform takes time and research.
Why Use MT4 Trading Platforms?
Traders and investors use the MT4 platform for several reasons.
Interface – The platform's layout and navigation provides a smooth trading experience. This makes it accessible to both beginner and experienced traders.
Advanced Charting Tools – MT4 offers tools such as technical indicators, line studies, and graphical objects. This allows for in-depth technical analysis. Additionally, traders can customise charts to suit their preferences and trading strategies.
Expert Advisors (EAs) and Automated Trading – Traders can develop or buy EAs to execute trades automatically based on predefined conditions and strategies. This feature allows traders to trade even when they are not actively monitoring the markets.
Custom Indicators and Scripts – MT4's programming language allows traders to create custom indicators and scripts. This flexibility enables the implementation of personalised trading strategies and analysis tools.
Backtesting and Strategy Optimisation – Traders can backtest their trading strategies using historical data. This helps assess the viability and performance of a trading strategy before applying it to live markets.
Large Community and Support – Due to its popularity, MT4 has a vast community of traders, developers, and experts. As such, there is an exchange of ideas, strategies, and technical support. Finding help, resources and discussions related to the Trade 4 web platform is easy.
Security and Reliability – MT4 is a well-established platform with a strong security and reliability track record. Transactions and user data are protected using encryption and secure login procedures.
Wide Broker Support – MT4 is supported by a wide range of brokers across the globe. This means traders have plenty of options when choosing a brokerage. Traders can also switch between brokers without changing the platform.
Cost-Effective – The MT4 trading platform is often offered by brokers at little to no cost for traders. This makes it an attractive option for those starting with limited capital.
Is MT4 Better than MT5?
The choice between MT4 and MT5 depends on:
Preferences
Trading strategies
Budget
Specific needs and goals
Both platforms have their strengths and weaknesses, and one may be more suitable for certain traders, while the other may be a better fit for different traders.
Here are some key differences between the MT4 web platform and MT5 to help you decide:
MetaTrader 4 (MT4)
Known for its simple and intuitive user interface, making it easy for beginners to navigate and use.
Has been around longer and has a larger user base, which means more custom indicators, expert advisors (EAs), and trading signals are available in the market.
Allows hedging, meaning you can have multiple positions (both buy and sell) open for the same instrument simultaneously.
Has lower system requirements compared to MT5, making it suitable for older or less powerful devices.
MetaTrader 5 (MT5)
Offers 21 chart timeframes, providing greater flexibility for traders who use various timeframes in their analysis. MT4 only offers nine.
Allows trading of a wider range of financial instruments, including stocks, futures, and options, in addition to Forex and CFDs.
The strategy tester is more powerful and supports multi-currency backtesting and optimisation.
Comes with additional built-in technical indicators and graphical objects for in-depth analysis.
How to Choose a Good Trading Platform
Choosing the best MT4 platform is crucial for your success as a trader.
Here are some key factors to consider when selecting a trading platform:
1. Regulation and Security
Ensure the platform is regulated by reputable financial authorities. Regulation provides a level of trust and security, as regulated brokers must adhere to certain rules and standards.
2. Asset Selection
Look for a platform that offers a wide range of financial instruments, including Forex currency pairs, commodities, indices, stocks, cryptocurrencies, and more. Having a diverse asset selection allows you to diversify your trading portfolio.
3. Customer Support
Check the level of customer support offered by the platform. Ensure they provide timely and helpful assistance to address any inquiries or issues you may have during your trading journey.
4. Educational Resources
Consider whether the platform offers educational materials, webinars, and trading guides to help improve your trading skills and knowledge.
A demo account is also valuable for practising and testing trading strategies without risking real money.
5. Fees and Commissions
Check the fee structure, including spreads, commissions, overnight financing charges, and any other fees the platform may impose.
6. Additional Features
Consider any additional features offered by the platform, such as social and copy trading, advanced charting tools, economic calendars, and research materials.
Your budget and financial goals will also play a role in deciding which is the best platform for you.
Additionally, consider the overall reliability, stability, and user experience of the platform.
Before committing to a trading platform, it's a good idea to try out the platform through a demo account to get a feel for its features and performance.
Frequently Asked Questions
What is the MT4 trading platform?
MT4 is an online trading platform that provides access to various financial markets. It is known for its user-friendly interface, advanced charting tools, technical indicators, and automated trading capabilities through Expert Advisors (EAs). Traders can execute orders quickly, access real-time market data, and implement various trading strategies with ease.
How to use the MT4 platform?
To use the MT4 platform, you will need to download the platform from a broker. Once downloaded, launch the platform and log in with your account credentials provided by your broker. If you don't have an account yet, you can create a demo account to practise trading without risking real money. You are then free to explore the platform using the educational tools available.
How to withdraw from the MT4 platform?
To withdraw from the MT4 platform, you will need to log into your account and select the option to withdraw or request a withdrawal. A withdrawal form will pop up, asking you to enter the amount you want to withdraw and the withdrawal method. Fill out the details, submit the form and wait for your money to be transferred.
What are the best brokers on MT4 trading platforms for beginners?
The best brokers on the MT4 trading platform for beginners include Pepperstone, AvaTrade, ActivTrades, Vantage Markets, FXCM, XTB, Admiral Markets, IC Markets, FP Markets, CMC Markets and Tickmill.
How to place a trade on the MT4 platform?
To place a trade on the MT4 platform, you will need to log in to your account, select the instrument you want to trade, open the new order window, choose the order type, set volume, stop loss and take profit levels, confirm details, and place the order.
What is the cost of using an MT4 trading platform?
Typically, the MT4 trading platform is free to use. However, your broker may charge subscriptions and trading fees.
What are the advantages of an MT4 trading platform?
The advantages of an MT4 trading platform include a user-friendly interface, advanced charting tools, technical indicators, and automated trading through Expert Advisors (EAs). It supports multiple trading instruments, provides access to various markets, and allows traders to implement diverse strategies.
What is the difference between MT5 and MT4 trading platforms?
MT4 is mainly for forex trading, offering hedging capabilities, a user-friendly interface, and extensive third-party plugins. MT5 expands beyond Forex, including other assets like stocks and commodities. It allows netting and hedging modes, offers more timeframes and technical indicators, supports more order types, and boasts a more powerful strategy tester. While MT4 is still widely used, MT5 offers more advanced features and broader asset coverage.
Are MT4 trading platforms trustworthy?
MT4 trading platforms are trustworthy and have a reputation for being secure. However, the broker you choose should be regulated by your country’s financial regulator or another Tier 1 regulator.
Does an MT4 trading platform work well on mobile?
Yes, MT4 trading platforms work well on mobile and are often optimised for iOS and Android.
Is the MT4 trading platform regulated?
MT4 is a software product designed to aid trades. The broker you choose to give you access to MT4 should be regulated. Ideally, you want your broker to be regulated by your home country. However, another Tier 1 regulator should ensure safety and security.
Can I trade different asset classes on the MT4 platform?
MT4 was primarily designed for forex trading. However, it is possible to trade other assets using the platform.
Final Thoughts
For beginner traders, MT4 might be the better choice. It is easy to use and has all the essential tools, hedging capabilities and a large support system.
Before making a decision, always conduct thorough research and compare multiple MT4 broker's platforms.