Best Forex Brokers For Meta Trader 4

Best forex brokers for meta trader 4

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What good is a profitable trading system without a reliable broker to execute your trades? Finding a Forex broker is a necessary evil if you plan on trading retail Forex. There are some really great brokers out there to help everyday traders, but unfortunately, there are also bad brokers and scam artists as well. Not all brokers are created equal.

Best forex brokers for meta trader 4

Some have even been in the news recently for  less than upfront dealings with their so called "valued customers."

It is really important to do your due diligence and compare Metatrader 4 brokers to find the best one for you.

That research could include comparing features and account requirements, speaking to customers service representatives, and reading reviews from current and former customers.

Best forex brokers for meta trader 4

If you are a U.S. trader or require an account in the U.S., the Metatrader 4 brokers below are a great place to start your research.

Below is a list of the top 4 quality Metatrader 4 brokers available to U.S.

traders:

Update: FXCM has been removed from this list due to recent news.

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I haven't updated this article with a replacement yet.

These top Metatrader 4 brokers can be great picks for anyone looking to trade retail Forex in the U.S. There are different account types, sizes, and the latest in technology to help you grow as a trader.

Many of these brokers also offer YouTube tutorials or webinars to educate you in trading or to assist you in working with their platforms and tools.

In addition, many of these Metatrader 4 brokers are connected to social media, like Twitter and Facebook, so you can have even more access to their experts and customer service representatives.

The most important thing when choosing a broker is to know what kind of trader you are, and what your needs will be as you trade.

Also, remember that since the laws changed with Dodd-Frank all U.S.

Best forex brokers for meta trader 4

traders must use a U.S. based brokerage company. Just take your time and find a registered Metatrader 4 broker that meets your needs.

This article represents my honest opinion of these brokers, and of the other brokers that were considered.

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I am not being paid to refer you to any of these Metatrader 4 brokers, nor am I being compensated in any other way. You should use this article as a jumping off point only.

Best forex brokers for meta trader 4

Like anything else in this business, your own research will go a long way in finding a reliable broker that will meet your specific needs.

If you are not a U.S. customer, there are certainly other companies that you might consider first. However, if you are a U.S.

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trader, these top 5 Metatrader 4 brokers are a great place to start.

#4 TradeKing

Founded in 2005, TradeKing is the new kid on the block. TradeKing has brokered Forex trades for even less time, only offering Forex trading to its customers after acquiring MB Trading in 2014.

Yet, in its short existence, TradeKing has become one of the seven largest brokerages in the United States. Known for providing reliable and inexpensive access to budget minded traders, TradeKing is quickly becoming one of the most trusted names in retail Forex.

Pros:

  • Registered with the NFA and CFTC
  • No minimum deposit
  • Allows scalping
  • Allows EAs
  • Live chat for instant communication
  • Share ideas with the Trader Network
  • Trade spot Silver or Gold
  • Offers mobile trading (iPhone and Android)

Cons:

  • TradeKing uses a Market Maker to execute trades
  • $15 data fee applied to any account that is inactive for more than 90 days

#3 OANDA

Founded in 1995, Oanda has become a trusted name in the retail Forex industry.

Oanda is known for providing the Forex community - not just account holders - with many trading decision support tools.

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They have also received many awards chosen by retail traders, including 4 wins in the 2010 FX Traders' Choice Awards. OANDA is known for bringing several technological advancements to the retail Forex industry, and for being one of the first brokers to provide retail traders with spreads under 1 pip.

Pros:

  • Registered with the NFA and CFTC
  • No deposit for withdrawal fees if both are done by check
  • No minimum deposit
  • No minimum lot size
  • Allows scalping
  • Allows EAs
  • Live chat for instant communication
  • MT4 mobile

Cons:

  • Oanda uses a Market Maker to execute trades
  • Does not offer Silver or Gold trading to U.S.

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#2 ATC Brokers

ATC Brokers opened in 2005 and have been a top brokerage firm for the retail Forex and futures markets. Their vision is to concentrate on how technology relates to trading, and how it can all benefit their trading customers.

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They are “focused on providing new and emerging technologies within the trading industry." In their own words, they have “continued to form relationships with technology vendors to expand [their] reach in obtaining the latest technologies that are in the market.”

Pros:

  • Registered with the NFA and CFTC
  • You can trade micro lots beyond the mini lot order (e.g., 0.12 lots or 1.89 lots)
  • Allows scalping
  • Allows EAs
  • Clients can choose market execution or instant execution
  • No Dealing Desk
  • Live chat for instant communication
  • MT4 mobile

Cons:

  • Must have a minimum of $5,000 to open an account
  • Cannot trade if your account balance falls below $250
  • Does not offer Silver or Gold trading to U.S.

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#1 Forex.com

Forex.com, founded in 2001, is partnered with Gain Capital Holdings, Inc.

Best forex brokers for meta trader 4

(NYSE: GCAP). In 2001 Forex.com won Forbes' "Best of the Web" award, and the recognition hasn't stopped there.

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They have been chosen as the best Forex broker by readers of such publications as Shares and World Finance and have received much praise for their proprietary FOREXTrader Pro platform.

Pros:

  • Automated order rules
  • Advanced order functionality
  • Offers price improvement
  • Registered with the NFA and CFTC
  • Offers micro lot trading
  • Offers mobile trading (iPhone and Android)
  • Free ForexCharts by eSignal
  • Integrated Autochartist
  • Only $500 to open an account
  • Allows EAs

Cons:

  • Forex.com uses a Market Maker to execute trades, although they claim to operate in a "highly regulated environment" where no price adjustments or order delays are allowed, and where 99.9% of orders are executed within 1 second or less.

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