10 Best MT4 Brokers for Forex Trading Online

Best MT4 forex brokers for Online TradingThe MetaTrader 4 (MT4) is by far one of the most popular and used trading platforms in the industry. It is used to connect clients of different brokerage firms with top financial markets. It’s a product by MetaQuotes Software Corporation designed to allow traders to effectively trade in Forex, CFDs, and future markets. If you are a newbie trying to make head and tails of the industry, MT4 is definitely the platform to get with. But before you dive in head first, you need someone to hold your hand through the journey – an MT4 forex broker. And with the influx of brokers in the industry, choosing one can be tricky. Below are some tips that will help make the process easier:

  • Proper Regulation

In an industry that requires a lot of trust, regulation is key. Proper regulation will ensure that the broker is capitalized in case of trading losses, keeps your money in safe, secure as well as segregated accounts and sticks to fair dealing practices to make sure your trades are always done at the current market prices. The MT4 forex broker you choose should have a strong regulatory record.

Most countries have taken the initiative of regulating forex trading. However, the fine print of the regulations may vary from country to country. Brokers who operate in different countries need to be registered and licensed. When making your choice, ask the broker which regulator has licensed them, and if possible, request to be provided with the registration number for verification.

Best Metatrader 4 Forex Brokers Fully Regulated in 2019

BrokerInfoBonusOpen Account
HYCM Logo Min Deposit: $100
Spread: From 0,2 Pips
Leverage: 1:200
Regulation: FCA UK (#186171), CySEC (#259/14), CIMA (1442313) and DFSA (F000048)
10% Welcome Bonus up to $5,000Visit Broker
FBS Markets Inc forex broker Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: CySEC, IFSC
$100 No-Deposit Bonus, 100% Deposit Bonus, Lucky T-shirt, iPhone 6s PlusVisit Broker
OCTAFX forex broker Min Deposit: $5
Spread: From 0.2 Pips
Leverage: 500:1
Regulation: FSA (Saint Vincent and the Grenadines), FCA UK (#679306)
50% Deposit Bonus, Real contest 1st prize Luxury car BMW X5 M, Copy trading, Trade&Win.Visit Broker
xm best forex broker Min Deposit: $5
Spread: From 0 Pips
Leverage: 500:1
Regulation: ASIC, CySEC, FCA (UK), IFSC Belize
“50% +20% deposit bonus up to $5,000, Loyalty Program BonusVisit Broker
tickmill fx trading broker logo Min Deposit: $100
Spread: Starting 0 Pip
Leverage: 500:1
Regulation: FCA UK, FSA (Seychelles), CySEC
Visit Broker
exness forex broker review Min Deposit: $1
Spread: From 0 Pips
Leverage: 2000:1
Regulation: FCA UK, CySEC, FSP, BaFin, CRFIN
35% of the account DepositVisit Broker
Forex.com Gain Capital review USA Min Deposit: $50
Spread: Starting 0 Pips
Leverage: up to 400:1
Regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
Visit Broker
No Deposit Bonus Instaforex Broker Min Deposit: $1
Spread: Fixed Spread From 3 Pips
Leverage: Up to 1:1000
Regulation: CBR, CySEC and FFMS
30% Forex Deposit bonusVisit Broker
Pepperstone review best forex broker in Australia Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia, FCA UK
Visit Broker
City Index forex broker Min Deposit: $100
Spread: Starting 0 Pips
Leverage: up to 500:1
Regulation: FCA UK, ASIC Australia, MAS Singapore
Visit Broker
  • Data Security

When you are opening an account with your broker, you’ll provide lots of personal and financial information. Usually, you’ll be requested to provide copies of your passport, bank account information, utility bills, and credit card number.

Having poor internet security protocols puts your data at risk of theft. It could also disrupt your trading activities and even lead to identity theft. Before committing to any forex broker, ensure they have great internet security. The internet security could include SSL, a 2-factor authentication and a privacy policy.

  • Trade Execution

To ensure that you always get the best rates at the required times, you should choose a broker with exceptional trade execution methods/practices. Essentially, forex brokers can be classified into two: Market makers (those dealing desks) and STP brokers (those that pass your directives to interbank markets).

With market makers, any loss you make registers as a loss on their end and vice versa. But this doesn’t mean that they are working against you. The idea is to spread the bid when clients enter as well as exit the trades. They offset the risk of the trade with other trades from their clients and with their current liquidity provider.

On the flip side, STP brokers route all your directives to financial institutions like hedge funds, mutual funds, and banks. They see a good quote in the interbank market and then add some fractional pips as compensation before they route the order to liquidity providers.

  • Product Coverage

Today, you can trade several currencies with a broker. A good broker will grant you access to several capital market areas via one forex account. It’s therefore important to note that broad coverage doesn’t always mean deep coverage. If your goal is to trade a lot more than forex, then the number of products that your broker covers is imperative.

Now that you know how to pick an MT4 forex broker, let’s look at the benefits you stand to gain using the MT4 platform.

  • Exemplary user experience

The MT4 interface is user-friendly. This enables forex trading newbies to navigate the volatile and complex market with great comfort and ease. Moreover, MT4 has a mobile app which allows access to the platform anytime and anywhere.

Language

MT4 supports lots of languages all over the world. This means that you can use the platform in your native language.

Charts
In addition to its user-friendliness, MT4 provides advanced chart features, which help traders to analyze the technical aspects of their market. Also, you can change the style and color of the charts and use different templates that you like.

Communication
The platform has advanced tools of communication which enable the brokers to communicate with traders in real time. This gets rid of long email threads which can be a pain to follow. It makes trading and collaboration easier and simpler.

As you prepare to venture into the forex trading, be patient and a good communicator. Hopefully, you don’t think it is a get rich quick scheme, but you will undoubtedly enjoy great returns if you do it right.

1 Star2 Stars3 Stars4 Stars5 Stars (8 votes, average: 4.25 out of 5)
10 Best MT4 Brokers for Forex Trading OnlineLoading...
Copyright © 2019. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.