One of the most important features of a Forex broker is its trading platforms. Most Forex brokers offer the ever popular MetaTrader4 platform, many in addition to other available trading platforms. MetaTrader 4, also referred to as MT4, was developed by MetaQuotes Software and released in 2005. MT4 is an electronic trading platform used widely by online retail foreign exchange speculative traders
The MT4 platform has adapted itself over the years to meet the needs of MT4 Forex brokers and their clientele. Additional features have been added to ease the trading process and traders of all levels find the MT4 platform user-friendly and simple to understand. Before choosing a broker, it is important to look into the platforms offered. We have made your choice easier by listing the top MT4 Forex brokers. All of them have been tested and reviewed by our Daily Forex team and we present them below so you can make an educated and informed decision.
MetaTrader 4 and Forex Brokers
If you are looking for a Forex / CFD broker offering the MetaTrader 4 trading platform, then we’ve got some very good news for you:a huge majority of Forex brokers offer their clients the opportunity to use this platform. It is not difficult to find a broker suitable for you in every other aspect in addition to offering MetaTrader 4. This is despite the fact that MetaQuotes Software, the company which developed MetaTrader 4 and released this software in 2005, announced a few years ago that they would no longer be supporting this software technically.
It can be seen then that this is an extremely popular trading platform. We can go further and call MetaTrader 4 the “gold standard” platform of the retail Forex / CFD trading industry. Perhaps its popularity stems from the fact that it was the go-to trading platform just as the industry really started to take off in about 2007 / 2008. On the other hand, it may be that the platform is easy to trade with, relatively reliable, and perhaps most importantly, very intuitive.
One of the important features of a Forex broker is its trading platforms. However, it should not be the most important feature in considering whether to open an account with a particular Forex broker, unless they are one of those rare brokers offering no choice of platforms and the only platform on offer is a platform which is truly difficult to use and unreliable. Advertising in the Forex industry often makes a big deal out of trading platforms and the features of trading platforms, but the truth is, this is just hype. The most important features are the security of your deposit and trading costs. Nobody ever makes money in any market just because of the trading platform they use, although using a bad platform which you are unable to operate confidently could certainly cause accidents and missed trades and lose you money. Yet there is no trading platform that has such special unique features that it gives you an edge over the market. What is needed from a trading platform is ease of use and reliable technical execution. Of course, if you find a trading platform easy to use, that is only going to help your trading. Yet overall, the key to a good trading platform experience is avoiding any negatives.
What is it that traders like about MetaTrader 4? Most traders find it intuitive to use, for most people reading the instruction manual is not necessary. Another reason is that because it has been around for a long time and is very widely used, there are a lot of custom indicators and expert advisors which have been developed to run on the platform, so there is no shortage of good add-ons available. It runs on a programming language called MQL4 which has recently been upgraded to allow “black box” programming. MetaTrader 4 also has a back-testing capability, which is an unusual capability for a trading platform to have. This means you can use the platform to back test algorithmic trading strategies if you wish, as well as to trade. Finally, MetaTrader 4 is available as an app for smartphones and tables, as downloadable desktop software, and as a web-serviced, browser-based platform, so you are free to access it from almost anywhere and set it up to operate any way you choose.
The MT4 platform has adapted itself over the years to meet the needs of MT4 Forex brokers and their clientele. Additional features have been added to ease the trading process and traders of all levels find the MT4 platform user-friendly and simple to understand. Before choosing a broker, it is important to carefully investigate the platforms offered, if there is a choice of platforms – there are some brokerages which offer only MetaTrader 4. We have made your choice easier by listing the top MT4 Forex brokers. All of them have been tested and reviewed by our research team and we present them below so you can make an educated and informed decision.