Having used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for more than a decade, I wanted to create a comprehensive guide for traders. In this guide, I will break down the best brokers for MetaTrader 4 and MetaTrader 5, and answer the most common questions about the trading platform.To get more news about best mt4 forex brokers, you can visit wikifx.com official website.

This guide starts with basics that will help beginners and then progresses to more advanced topics, such as social copy trading and using automated trading systems.
What is an MT4 broker?
Any broker that offers the MetaTrader 4 (MT4) trading software can be considered an MT4 broker. MetaTrader 4 and MetaTrader 5 (MT5) belong to a suite of trading platforms developed by MetaQuotes Software Corp. for mobile, web, and desktop computers.
A forex broker simply needs a proper license from the developer in order to offer MT4 to you as a customer. However, some forex brokers that offer MT4 may lack proper regulation in the countries in which they operate, thus it is important to only choose trustworthy MT4 brokers. See how we evaluate brokers' trustworthiness.
Is MetaTrader 4 a broker?
No. MetaTrader 4 is a third-party trading platform that connects to a broker for forex trading. MetaTrader 4 is the most popular third-party platform for trading forex. MT4 alternatives do exist, and cTrader is an example of another popular trading platform.

In addition to offering MetaTrader, some brokers also build their own custom in-house trading platforms. Based on our assessments of over 60 forex brokers, we've found that the best forex brokers also offer proprietary platforms.
Do I need a broker for MetaTrader 4?
You can't place any real trades within the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms unless you open a live account with a supporting broker. If you select a broker's server name from the dropdown menu when logging in (this applies to the version of the software downloaded directly from the developer), you can open an account with the broker of your choice and access live rates within MT4 or MT5.

MetaTrader does offer the use of a free demo account, which many traders use without connecting with a forex broker for conducting technical analysis on historical rates — but this won't include access to any live trading capabilities or updated market rates.
How do I set up a broker on MetaTrader 4?
Once you’ve chosen a forex broker, simply open and fund a brokerage account and then download the MetaTrader 4 software directly from your broker to start trading forex and CFDs. Most brokers also offer demo accounts that allow you to practice trading with virtual funds before graduating to live trading with real money. It is important to only choose trustworthy brokers that are properly licensed and regulated, to reduce your chances of dealing with a scam MetaTrader 4 broker.

We’ve tested dozens of the best forex and CFD brokers and compiled a list of the best MetaTrader 4 brokers. Our top pick for MetaTrader in 2023 is IC Markets, which offers the full MetaTrader suite alongside competitive pricing, add-on trading tools, and quality market research.