Top 6 Best MT4 Forex Brokers in 2025

Trade your favourite markets with our top-rated broker, eToro.

eToro 4.6/5

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

This guide helps you choose the best MT4 forex broker. We explain what the MT4 platform is, what to look out for when choosing what’s best for you, and how to compare the top forex brokers available. 

Best MT4 forex brokers overall for 2025

What are the best MT4 forex brokers?

Below, we’ve ranked and rated some of the best MT4 trading platforms available. However, if you’re not ready to choose just yet, skip past this and keep reading to learn more before making your choice.

4.6

eToro

Min. Deposit $100

Fees 1%

No. assets 3600+

Demo account Yes

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eToro review

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Best MT4 forex brokers

Min. Deposit n/a

Fees -

No. assets n/a

Demo account -

Visit site

Best MT4 forex brokers

Min. Deposit n/a

Fees -

No. assets n/a

Demo account -

Visit site

Top 6 MetaTrader 4 forex brokers, reviewed

1. eToro. Best for beginners, copy-trading & demo-account

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4.5

Ratings

$100

Min. deposit

0% commission

Fees

3,600

No. assets

Yes

Demo account

Overview

We love eToro because it’s a crypto trading platform built with beginners and casual traders in mind. The platform combines an interactive, social trading experience with an easy-to-use interface, making it ideal for novice traders.

The far-reaching catalog of 100 cryptocurrencies includes big names like Bitcoin and Ethereum, as well as smaller crypto tokens with high growth potential. Some supported tokens can be seamlessly transferred to the eToro Money crypto wallet for safekeeping.

One feature we particularly appreciate is the ability to interact with eToro’s 35 million users on any asset, market, or portfolio page. If you find traders whose strategies match your risk tolerance, you can copy their portfolios automatically using eToro’s flagship copy trading functionality. eToro crypto’s Smart Portfolios offer a great entry point into digital currencies, an opportunity to learn and potentially benefit from the expertise of more experienced traders.

If you don’t feel comfortable investing your cash straight away, you can use a free demo account, credited with $100,000 virtual dollars. This offers plenty of opportunities to try out a trading strategy that works for you across the 100 crypto tokens available.

Highlights

No. of tradable assets	3600+
Min. Deposit	$100
ID verification required	Yes
Free demo account	Yes
Supported assets	Stock CFDs, ETF CFDs, Forex CFDs, Index CFDs, Commodity CFDs, NFTs, Crypto
Mobile trading app	Yes
Web trading platform	Yes
Regulatory bodies	ASIC, FCA, CySEC, FinCEN

Fees & Costs

Trading fees	Yes, on certain assets
Inactivity fees	Yes
Rollover/overnight fees	Yes, on CFDs
Withdrawal fees	Yes
Spreads	Yes, on certain assets
Conversion fees	Yes, for non-USD currencies

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided

Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

What is an MT4 platform?

An MT4 platform is essentially a forex broker that operates on the popular MetaTrader 4 software system. MetaTrader has been around for decades and provides white-label solutions to brokers wishing to launch their brands on top of its framework.

Brokers using MT4 often have excellent extra features to help you trade successfully. These can include customised technical indicators, multiple currency pair options, expert advisory services, copy trading social options, and other tools commonly used.

What is MT4? 

Also known as MetaTrader 4, it is the underlying technology that powers some of the best forex brokers on the market. A predecessor to the newer MetaTrader 5 platform, it’s one of the most versatile and popular forex trading platforms available. In fact, most forex trading platforms that exist operate using the MT4 software.

MetaTrader 4 offers a broad range of options which has made it one of the most popular trading platforms among retail forex traders. It is highly customisable to individual traders’ requirements while also offering automated and algorithmic trading features. 

How do MT4 FX brokers work?

Most brokers act as a ‘middleman’ between a trader and the exchange. Although, typically there are two ways in which they work; dealing desk trading and no dealing desk trading. Both types allow traders the ability to participate in the forex market, although differ slightly in their models. Below, we’ve briefly explained each. 

• Dealing desk trading. This is when a broker acts as a dealer and takes the opposing side of a trade. Brokers working in this way usually have bigger spreads and are able to control prices.  
• No dealing-desk trading. Using this type of broker gives traders direct access to the interbank market (where banks trade currencies with each other). This is the preferred method for most brokers and traders. Forex brokers using this model act as a ‘middleman’ to facilitate trades.

What should I look for in a MetaTrader 4 forex broker

Ultimately, choosing a broker is all about the amount of useful features you have at your disposal. If you’re a beginner, you probably don’t need all of these and should just look for basic trading tools like a demo account. Once an expert though, you’ll be trading forex using an array of features. The most important ones are listed below:

Intuitive analytics

In-depth analytics allow you observe and assess in detail, which is vital to forex trading. Assess charts properly with 9 period (0.000000009) price quotes, allowing you to act quicker than those with less period points. Top MT4 brokers will offer 30 in-built technical indicators, as well as the ability to design and create you own; allowing for thousands of potential indicators, connected directly to the market.

Forex trading signals

Forex signals are vital to beginner traders especially. Trading signals are ideas and suggestions that are provided by experts, usually based on their own technical analysis, which save you time and effort. You literally have the ability to set your risk profile, and then set up your account for automated trading based on those signals. Alternatively, you can be alerted to a trade which a pro-trader has signalled, allowing you to copy it immediately.

Copy trading

An advanced version of forex signals, copy trading features have become hugely popular in the last few years. If your chosen forex trading platform allows the feature, you can assess pro-trading accounts performance, and hit a button which copies their trades. Depending on the broker, this will also be fully flexible allowing you, for example, to ‘allocate 10% of my portfolio to copy 100% of their trades’.

Access to markets

An in-built market allows you to buy and trade all kinds of useful things with users. You can buy robot traders, custom technical indicators, alert systems, and much more from other pro traders. Many of these assets are also free to use become some traders give them out for free to gain exposure to their skillset.

Alerts & news

Setting a custom alert is a welcome and necessary feature for MT4 forex traders. You may wish to get by the second news on a particular currency’s economy, or have an alert for when a president makes announcements. Events & news feature heavily because that’s what moves currencies in the forex market, so watch one for a good notification system that suits you, maybe that’s email or push-notifications.

Low fees

Some brokers charge fees or commissions for every trade placed and for traders using MT4 frequently, these can soon add up to a substantial amount. That’s why it’s key to find a broker who not only charges low fees, but also has low commission rates. Different account types offer different rates and often you’ll find lower commissions the higher your trading volume.

Here are the types of fees you may encounter when using a MT4 forex broker:

However, for day traders and scalpers, a forex broker with zero or low spreads will be a better option. 

Choice of currencies

The majority of forex brokers will offer major and minor currency pairs and if you want to trade the exotics, it’s a good idea to check before registering. Brokers who offer the MT4 platform, sometimes also offer other financial instruments to trade, such as bonds, indices, and cryptocurrencies. Below is a selection of forex pairs available with the best MT4 brokers:

Learning materials

Not a deal breaker as educational materials can be found elsewhere. Regardless, its nice to have a choice of educational and instructional material can be helpful, especially for newer traders. Although MetaTrader4 is a straightforward platform to use, having instructional content to help you get started can make learning easier. Some brokers also offer free educational documents and videos including trading strategies and content. 

Quick answers to key questions

Do I have to download any software in order to trade?

Yes, if you want the full capabilities of MetaTrader 4, then you’ll have to download it from your broker’s website. Once downloaded, you’ll gain access to all of the platform’s functionality. If you decide you don’t want to download it, there is a web browser option available too, although it’s limited in what it offers. 

Can I trade from my mobile device?

Yes, most brokers offer a MT4 app that you can download to your mobile phone or tablet. For day traders and scalpers, the MT4 app is especially helpful as you can keep track of your open trades conveniently. All the brokers we have listed on this page offer a MT4 mobile app. Although, you should be aware that apps often do not come with the full suite of options; desktop is best if you need access to it all.

Can I trade other markets with a MetaTrader 4 platform?

Usually you can. The top rated brokers often offer other markets like indices, commodities, and crypto making it easy to spread your money around different assets. Here are the other markets you can trade when using the best MetaTrader 4 forex brokers:

Is MT4 a free platform?

Yes, you do not need to pay to use a MetaTrader 4 trading platform. Most brokers usually offer the option to open a demo or simulation account for a short period of time so that you can get used to the MetaTrader 4 platform before committing funds. When you open a live account, MT4 will still be available for free.

When trading live, you will have to usually pay fees to your MT4 broker. The amounts and what kind will vary from broker to broker. Here’s a look at the top 3 MT4 forex broker fees:

Should I use an MT4 broker to trade forex?

Yes, but you don’t have to. Using a broker that offers MetaTrader 4 could be a good idea because it’s one of the most popular platforms around. Due to its popularity and easily customisable functions, there are a lot of indicators and other tools freely available making it a great choice to trade forex. It also means that other users are familiar with it and can help you out.  

Still undecided?

If you’re still undecided on whether to use a MT4 platform, consider the pros and cons below.

Should I trade forex now?

This is entirely up to you. If you feel that you are ready to trade, then yes, it could be a good idea to start now by signing up to one of our highly rated brokers. The first thing you’ll need to do is open an account, maybe starting with the demo version until you’re comfortable.

Methodology: how we choose the best MT4 forex brokers

Helping people make better financial decisions is at the heart of our mission at Invezz. 

We periodically test more than 63 forex trading platforms to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of forex experts, analysts, and active traders who sign up to each broker, conduct research, and score each service.

Our tests are designed to find foreign exchange platforms that offer a beginner-friendly, secure trading experience through a MT4 integration at a fair price. To supplement our practical testing and experience, we research each service to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each forex broker is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with individual brokers to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.

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