Best Mt4 forex brokers: review 2021

Overview of MT4 brokers 2021

MetaTrader 4 brokers have an option that allows traders to trade forex. The online terminal allows users to take advantage of all the trading solutions and extends their capabilities. Best MT4 brokers – offer a one of a kind software with an equally user-friendly interface for PCs and mobile devices.

According to the latest statistics, almost 32.4% of forex traders use MetaTrader 4 brokers to trade. The reason why its market share is almost a third is because MT4 brokers have the ability to provide the most up to date information a client needs. Best MT4 brokers provide information on any news and developments that may affect the market. Top brokers such as FXPro, Tickmill and Hotforex use this platform

Best forex broker mt4


When we look at best forex broker on mt4 platform, we don’t just look at spreads. We also take into account sentimental factors that ultimately enhance the overall trading experience with any MT4 brokers . These factors include a company’s history and heritage, which are often overlooked, and importantly, in the context of the MT4 platform.

It offers competitive floating spreads on all platforms and up to 1:500 leverage. On MT4/MT5 accounts, traders are charged only on any instrument and there are no commissions. On cTrader accounts, spreads are much lower (from 0 on major FX pairs) but there is a commission to charge per trade ($45 per $1m USD traded ). In addition, FxPro offers an MT4 Fixed Spread account which has fixed spreads on the 7 major FX pairs.

Pros Mt4 forex broker FxPro Cons Mt4 forex broker FxPro
FxPro was the first broker to recognise the potential of c MT4. FxPro is expensive.
FxPro’s customer support team is well versed in MT4 related issues. This is natural as they have the most experience in providing the platform. After the big update to the FxPro website, finding information has proved difficult. Yes, the site looks minimalist, artistic and super-cool, but it was hard to find a trading account comparison chart.
They oversell MT4 by giving it priority in their banners and advertising. The partners and affiliates don’t do their due diligence and are unresponsive. It’s a shame. Especially since there are probably many affiliates who are interested in partnering with such a well-known and reputable brand as FxPro

Opening an account on the FxPro best MT4 broker platform was very easy. The company seems to have spent a lot of time, money and attention on making the adaptation process as easy as possible. There was no point in not understanding what to do and how to do it. Every instruction is well explained. After uploading our passport and bank statement on Saturday night, our account was approved in about 12 hours, the following Sunday morning. It was very impressive.


MetaTrader 4 brokers platform

To conclude this review of MT4 brokers, we suggest exploring other features. Despite its heritage, FxPro is one of the most expensive places to trade on MT4. Other highly respected forex MT4 brokers such as Tickmill, Hotforex also offer a very high quality trading environment at a much lower price.


This UK-based FCA and FSA brokerage firm, based in the Republic of Seychelles, offers trading activity to institutions and retail clients worldwide. MT4 forex brokers offer gold and silver as well as currency pairs (including cryptocurrencies) for trading.. The broker has a lower minimum deposit than some other brokers on this list. This is one of the best MT4 brokers for beginners to try their hand at it.

Tickmill offers different account types for different trader profiles. Risk-free classic accounts for beginners, pro accounts, VIP accounts for those who trade a lot and want a special service, and Islamic accounts. MetaTrader 4 brokers offer a demo account for testing, and include real-time prices and volatility.

Tickmill offers two platforms for trading. MetaTrader 4 brokers is the main platform. For those who want to trade quickly via the browser without downloading any software, there is Web Trader.

best mt4 broker

Mt4 forex broker Tickmill also offers many tools, including forex margin and currency calculators, autochrome for technical analysis, forex calendar and Myfxbook autotest. The Tickmill VPS saves MT4 EAs and signals when the client is offline. The One-Click Trading option allows you to trade faster in real time.

The broker offers:

  • about sixty currency pairs;
  • popular indices;
  • gold and silver contracts;
  • German government bonds.

To meet traders’ needs, Tickmill offers different types of accounts. Each of them has its own features and advantages.

Professional Account Mt4 forex broker Tickmill Classic Account Mt4 forex broker Tickmill VIP account Mt4 forex broker Tickmill
Tickmill minimum deposit: 100 USD / EUR / GBP


Tickmill minimum deposit: 100 USD / EUR / GBP


Tickmill minimum deposit: none


Minimum balance: none


Minimum balance: none


Minimum balance: 50 000 USD / EUR / GBP


Base currencies: USD, EUR and GBP


Base currencies: USD, EUR and GBP


Base currencies: USD, EUR and GBP


Tickmill provides 2 different trading platforms, both powerful and user-friendly.

MT4 Tickmill review:

  • CFDs on currencies, stock indices, commodities and bonds
  • One click trading
  • Super-fast order execution with high liquidity
  • VPS Services enables you to use Expert Advisors trading functions
  • Advanced Technical Analysis
  • Over 50 indicators and customizable charts
  • Supports 39 languages
  • Trading alerts with advanced notification system
  • Available on PC as well as iOS and Android devices


MT4 brokers provide individuals and businesses with the opportunity to trade in the financial markets.

The HotForex acts as an intermediary between the client and the liquidity provider due to end-to-end transaction processing.

HotForex provides clients with a package of services, which includes:

  • Forex, indices, CFDs and CFDS trading;
  • binary options from optiontrade;
  • access to MQL5 community for automatic trading by signals;
  • free VPS-hosting for clients with deposit $5000 and more;
  • affiliate programs;
  • trading training.

metatrader 4 brokers

Specific trading conditions:

  • use of different trading platforms: MT4, WebTrader, MYFX Platform (free for deposits over $2000) and RapidTrader API platform (for deposits over $50,000);
  • Scalping is allowed;
  • use of Expert Advisors is allowed.

For successful trading, metatrader 4 forex brokers can use the classic terminal or its advanced version MT5, which is available for installation on both desktop computers and mobile gadgets on various operating systems.

MT4 сlassic terminal

MT4 brokers offer one of the most popular and user-friendly trading platforms, used not only by HotForex clients, but also by traders working with other brokers. It can be easily installed on your computer, laptop or mobile gadget. Mobile versions are also available for opening orders or closing positions directly from a smartphone.

MT4 benefits:

  • clear, simple interface, which can be mastered very quickly;
  • ease of use – all menu bars are located above the large chart window;
  • 1-click opening of trades with a small panel in the upper left corner;
  • set of built-in indicators, settings and colours of which can be changed in any range depending on your strategy;
  • Possibility to add any other indicators that will allow you to create your own trading strategy.

Metatrader 4 forex brokers

MT4 review benefits multiterminal

This programme does not differ from the classic version, but it does have its advantages. Among the main advantages of MetaTrader 4 brokers is the ability to keep an unlimited number of your accounts in one window of the terminal, and to manage transactions on them online, without any delays. Users can also track their trading history, which enables them to assess the effectiveness of their trading strategy and identify strong support and resistance price levels.

An overview of the pros and cons of the HotForex Mt4

Pros Mt4 forex broker HotForex Cons Mt4 forex broker HotForex
Commissions are quite small and spreads are tight. And there’s a special ZERO account, which allows traders to trade with zero spreads and maximise profits. A significant disadvantage is that in fact the broker is not subject to any of the known regulators – CySEC, CRUFM, FAS, etc. Consequently, traders cannot get any guarantees until they have checked the reliability of this company themselves.
A significant advantage is that the best MT4 broker does not charge a fee for deposits or withdrawals. However, small commissions may be charged by banks or payment systems for transactions. Withdrawal times are quite long when it comes to bank cards – usually a few working days (max. 10).
Metatrader 4 forex brokers offer the opportunity to trade on a free demo account, which is especially valuable for beginner traders. They can test trading strategies and indicators without the risk of losing their own funds..
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Rufus Mekhdi-Smith
Rufus Mekhdi-Smith / article author
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