Forex Trade

7 Best MT4 Forex Brokers UK in 2023

The majority of Forex firms in the UK still accept Metatrader 4 (MT4), the most widely used Fx trading platform in the world despite its advanced age. We search for the broadest selection of leading MT4 brokers for a variety of trading preferences and budgets since so many companies provide MT4. We contrasted trading fees, speed of execution, and the variety of Forex pairings that the brokers provided. In order to assure trader security, we also assessed the brokers’ technical customer support capabilities and made sure they were completely regulated. Common inquiries, including What is MT4?, will also be addressed under the list of the best MT4 brokers. How does MT4 function? What distinguishes it from other trading platforms like cTrader and MT5? And how do you use Professional Advisors to simplify your trading? Let’s get started!

What is MT4 (MetaTrader 4)?

For the past fifteen years, MetaTrader 4 has been the most widely used Forex trading platform worldwide. It links investors to brokers so they may trade CFDs and other currencies.

The Russian software company MetaQuotes created MT4 in 2005, and it completely changed the commercial Forex market. Anyone with an internet connection might compete with seasoned Forex traders thanks to MT4’s institutional-grade trading platform for regular Forex traders. 

Why Is MT4 A Reputable Trading Platform?

MT4 is a quick and flexible trading platform that includes a charting suite that enables the overlay of charts with indicators from the MT4 library. With the use of MQL4, users of MT4 may create or purchase expert advisors (EAs), indicators, and other algorithmic trading tools that they can utilise to automate their trading. Retail traders may quickly and accurately analyse market movements thanks to MT4’s algorithms and customizable charts. Due to the platform’s quick execution, trades may then be executed immediately. Mobile, tablet, online browsers, and downloaded application versions of MT4 are all accessible.

Top 7 MT4 Brokers In The UK

No doubt that professional traders use MT4 brokers to reap the rewards of forex trading. If you’re a newbie and want to improve your trading outcomes, you should use MT4 trading platforms. Here we’ve come up with a list of 7 wonderful and the best MT4 brokers in the UK. You can select any trading platform that suits you the most. Let’s get into the nitty-gritty of these platforms and know how they’re different from each other.

1. Pepperstone

Pepperstone, a well-known broker, provides two straightforward accounts with ECN execution, MT4 compatibility, and ASIC regulation. For professional traders using MT4’s expert advisers, the majority of orders are completed in under 30 milliseconds. 

Live pricing, authentic charts, in-depth news, and analytical tools are all included in the Pepperstone MT4 trading experience. In order to enhance trade execution and administration, Pepperstone additionally provides a set of 28 expert advisers and indicators known as the Smart Trader Tools for MT4.

Additionally, Autochartist, a potent pattern-matching plugin that autonomously recognises trading opportunities based on price movements, will be made available to all MT4 users.

2. IG Markets

The authorised and most reputable MT4 broker in the world may be IG Markets. IG Markets is publicly listed on the London Stock Exchange and is governed by 10 national regulatory bodies, including the FSCA, FCA, ASIC, MAS, and FINMA. It also holds a full banking licence. Tight spreads, complete MT4 support, good education, and in-depth market research are all provided by IG Markets. With its selection of free add-ons and indicators, IG Market’s version of MT4 elevates the platform to a new level.

Autochartist is also available to all IG customers without charge. This sophisticated automatic technical analysis programme searches the markets for chances you might have missed. The EUR/USD has narrow spreads that average 0.86 pip but can occasionally be as little as 0.6 pip, commission-free trading, and all of these characteristics are accessible.

3. AvaTrade 

The greatest commission-free trading conditions are provided by AvaTrade, a well-known brokerage firm on the MT4 platform. Low spreads are available on a variety of CFDs, including currency and commodity CFDs, using AvaTrade MT4.

 With a 100 USD minimum deposit and no fee, spreads are extremely tight and as little as 0.7 pips on the EUR/USD. The maximum leverage is 1:30.

AvaTrade supports all of MT4’s original features, including the 30 built-in indicators, nine timeframes, and EA capabilities. The Guardian Angel method is also available on AvaTrade. This customised trading feedback solution supports automated trading platforms and is free for all MT4 clients. It aids traders in improving their decision-making.

4. FPMarkets

FPMarkets provides UK traders with a broad selection of tradeable assets, a strong track record, and tier-1 regulation. This Australian organisation, which was founded in 2005, excels most other exchanges in the UK by giving users the option to trade more than 10,000 distinct shares and equities. Additionally, FPMarkets offers more than 60 currency pairs and crosses, every significant commodity, no fewer than five cryptocurrencies (including Bitcoin), and 11 equities indexes.

It provides optional trading tools and platforms of choice and has an extremely affordable cost structure and wise asset selection. It offers low required minimum deposits and leverages up to 1:500. The exchange is trustworthy and well-governed

5. Axi 

Axi is an Australian ASIC and FCA-licenced ECN broker with complete MT4 support, fantastic trading tools, and amazing customizable options. It was created by traders, for traders. Axi provides the most customizable MT4 experience available anywhere in the world by solely supporting the MT4 platform. One of the standout MT4 utilities provided by Axi is the MT4 NexGen plugin.

6. ActivTrades

Mainstream CFD broker ActivTrades has been trading on 145 markets for more than 20 years. The FCA, CSSF, and SCB have granted ActivTrades their approval and oversight.

Its advantages include:

  • No initial investment is required.
  • There are none
  • There are several ways to pay for deposits and withdrawals.
  • small spreads starting at 0.5 pip
  • It delivers low latency < 0.004s and one of the fastest execution rates in the market.

The market-leading CFD and spread betting technology from ActivTrades is used by customers to automate trades, construct integrations, and create trading applications, improving their trading efficiency.

The trading infrastructure on ActivTrader, MetaTrader 4 and 5, and other platforms is exceptional. For its clients, ActivTrades makes significant investments in specially created instructional resources, such as webinars, periodical outlooks, manuals, etc.

In its trading portfolio, ActivTrades places a strong emphasis on advanced products. Over 1,000 CFD or spread betting products are available to customers, including those for forex, indices, equities, commodities, financials, and ETFs. Additionally, it provides institutional partners with investing options.

7. Vantage Markets

Vantage Markets platform has grown since becoming a reputable forex broker in 2008, offering 280+ CFDs and 44 Forex pairs. Vantage Markets is acknowledged as a reliable broker as a result of the FCA and ASIC’s supervision. It offers market access through the popular MT4 and MT5 platforms as well as a feature-rich mobile app.

A reputable and reliable broker, Vantage Markets offers social and copy trading without having incredibly high commissions or non-trading costs. Vantage Markets makes trading on MT4 simple and straightforward.

Vantage Markets is appropriate to be used alongside EAs and other algorithmic trading robots since it provides quick trade execution on MT4 (automated trading).

You may place trades wherever you are thanks to Vantage Markets’ integration with the MT4 mobile trading software for iOS and Android.

How Do I Open A Brokerage Account On Metatrader 4?

Once you’ve chosen a forex broker, all you need to do to start trading forex and CFDs is open a brokerage account, fund it and then request MetaTrader 4 from your broker. Most brokers also offer demo accounts, allowing you to practise trading with fictitious funds before going on to real trading with money. It’s essential to only choose trustworthy brokers who are properly licenced and regulated in order to reduce the dangers of dealing with a fraudulent MetaTrader 4 broker.

Wrapping Up 

The majority of Forex brokers in the UK provide trustworthy trading platforms, with MT4 serving as the accepted standard and frequently being advertised as the most innovative and successful entry point to the financial markets. Newbies who wish to utilise MT4 will need a broker with strong educational credentials in general as well as more specialised MT4 instructions and advice. The more thorough a broker’s research and analysis, the greater your chances of discovering profitable trading opportunities. 

It might be challenging to install and modify MT4. For newbies, it might be advantageous when brokers give their support. Finding a broker with customer service hours that work for you is important because some brokers offer restricted hours, particularly on weekends. 

In this article, we’ve highlighted 7 best MT4 Forex trading platforms with which you can perform trading in the UK. You can choose any of these platforms according to your needs. But, it is mandatory that you conduct your own research to avoid any future losses.