The MetaTrader 4 platform has become popular among forex investors in the UK, let alone globally. This is because of its easy-to use feature and it’s also backed up with technical indicators for market analysis. Since choosing the best broker is as good as finding a suitable MetaTrader 4 platform, we advise you to find a broker that complements your trading requirements.
If you are wondering how to choose the best MetaTrader 4 brokers, do not agonise because we got you covered. In this guide, our TradingGude team has recommended the best MetaTrader 4 brokers in the UK that have been tested and reviewed multiple times. Feel free to compare their features and see which one works best for you.
In this guide
Best MetaTrader 4 Brokers in The UK
How we test?
Our test process is really based on two different aspects: our independent tests and research, as well as user reviews from Google Play, the App Store, and Trustpilot, etc.
The first thing we do when testing is to check every detail and test every tool and instrument. Our experts spend more than 200 hours on every article. We pay special attention to the specific function or the criteria that we’re comparing during the comparing stage. This means that we must determine which broker is more suited for beginners, and which is better suited for experts, for example. Find out more about our test process here.
Compare MT4 Brokers in the UK
The brokers you find in this guide have all been thoroughly tested and we can assure you that they are the best MetaTrader 4 brokers in the UK. Since our expert researchers are professional traders, they worked tirelessly to make sure that we recommend the best based on the following metrics:
Our findings are not only based on the above test results. We combined them with honest user reviews from Google Play, App Store, and Trustpilot. Below is how we rated them.
1. IG Markets – Best Broker with MT4 Platform in the UK
IG Markets is a global MT4 broker with a long track record that goes back to 1974. We believe it is the best broker with MT4 platform in the UK because of its world-class MT4 trading platform that is backed up with many trading and market analysis tools. You will trade with various instruments in IG Markets including forex, shares, commodities, and indices on more than 17,000 market assets.
IG Markets account opening procedure is straightforward and it takes you a few minutes to complete. Its MT4 trading platform gives you access to a wide range of trading tools for market analysis and improving your trading experience. For example, with this broker’s MT4 platform, you will have access to trading robots and automate your trading strategies.
Although the broker’s trading charges are relatively high, it does not charge deposit and withdrawal fees. You will also incur spreads and a monthly inactivity fee of $18 if you do not place trades for two years. Additionally, margin traders can apply leverage on this broker’s platform and gain exposure to a wide range of markets.
We primarily recommend this broker to professional investors. However, newbies are encouraged to give it a try if they feel they have the requisite strategies to trade on IG Markets’ advanced platform.
All in all, IG Markets has the best MT4 platform in the UK. Feel free to test the broker using its demo account. It is also backed up with a plethora of educational and research tools to expand your trading experience.
- Highly regulated by top-tier authorities including the Financial Conduct Authority.
- More than 17,000 tradable instruments to choose from.
- Competitive spreads.
- A plethora of educational and research tools.
- Trading charges are relatively high.
2. AvaTrade - MT4 Broker with the Lowest Spread in the UK
AvaTrade is an Ireland-based MT4 broker that was founded in 2008. We consider this broker safe for your investment needs because it is regulated by world-class authorities including the Financial Conduct Authority (FCA).
You will find thousands of tradable instruments on AvaTrade including, forex, stocks, commodities, and ETFs.
If you are looking for a broker offering 0% trading charges, then AvaTrade is worth considering. However, note that you will incur competitive spreads for every position you open. There are also no non-trading charges on AvaTrade making it a go-to broker for low-budget investors. These are the reasons why it excels as the best MT4 broker with the lowest spreads in the UK.
Like any other MT4 broker, AvaTrade has its drawbacks. As much as it’s easy to open a trading account on this MT4 broker’s platform, you will require a minimum deposit of £100 to start investing. There is also a monthly inactivity fee of £50 which kicks in should you fail to open a position for three months.
Other than offering one of the efficient MT4 trading platforms, AvaTrade also has the AvaOptions and DupliTrade platforms which gives you the power to take full control of your investment activities and socialise with other investors while copying trades from the professionals.
- Low spreads.
- Wide range of tradable instruments.
- Great collection of educational resources.
- Highly regulated by world-class authorities.
- High inactivity fees that begin after three months of inactivity.
3. Forex.com - Best MT4 Broker for Mobile Trading
Any investor, especially those who place multiple trades during the day, needs a reliable MT4 broker that allows real-time access to trading markets and lets them automate their trading activities. Forex.com is not only one of the best MT4 brokers in the UK but it is also considered the best for mobile trading because it hosts a plethora of tradable instruments, which includes +90 currency pairs.
Being the biggest global MetaTrader 4 broker, Forex.com has an extremely customisable mobile trading platform that is easy to use and backed up with a lot of order types. It is one of the safest MT4 brokers in the UK because it is highly regulated by the most stringent global authorities.
Forex.com has a minimum deposit requirement of £100 for you to start investing. Its forex trading charges are also low with competitive variable spreads. On the flip side, this best MT4 broker charges a monthly $15 inactivity fee that you will incur after 12 months of inactivity. Therefore, we recommend this broker to forex investors on a tight budget.
Ultimately, Forex.com’s mobile app is what you need to keep track of your trading activities while on the move. Backed up with adequate educational and research tools, you will quickly improve your trading skills.
- All forex tradable instruments.
- Low forex trading charges.
- Extremely customisable and user-friendly MT4 trading platform
- Advanced charting and analysis tools.
- $15 monthly inactivity fees after 12 months.
- Stock CFD charges are high.
4. IG Markets - Best Broker For Copy Trading With MT4 Platform
IG Markets has a long track record and this makes it a trusted broker for your investment needs. With many market instruments to trade with, this MT4 broker charges one of the tightest spreads in the industry.
It’s a no-brainer that IG Markets has an easy-to-access MT4 trading platform. This platform is one of the most advanced we’ve seen because it is backed up with thousands of technical indicators and add-ons, making you improve your trading experience. It also has customisable charts and allows you to automate your trades to suit your trading experience.
Another factor that makes IG Markets stand out as one of the best brokers with MT4 platforms is its copy feature. You see, many investors, especially newbies, need a broker that helps them to quickly improve their trading skills while enjoying their experience. With the copy feature, traders can interact with other investors through the IG community and mirror trades from the experts.
Investors who like margin trading can apply leverage on IG Markets. This lets you open a position on margin and have full access to a wide range of tradable markets. We encourage you to test this broker using the demo account on its website. Also, take advantage of its many advanced educational and research tools to make your experience worthwhile.
- Copy feature for an improved trading experience.
- Thousands of financial markets to trade with.
- Advanced MT4 trading platform that is fully customisable.
- Plenty of educational and research tools.
- Trading charges are relatively high.
How To Choose the Right MetaTrader 4 Broker in the UK
MetaTrader4 platform is popular among UK investors, let alone globally because it is easy to use and highly customisable for all investors’ needs. Therefore, choosing the right MetaTrader4 broker contributes greatly to making your trading experience worthwhile. If you do not know what to look for when choosing the right MT4 broker in the UK, simply consider the following elements:
The last thing an investor wants is to invest their hard-earned money with a broker and to realise that they are not legally approved to offer their services in the UK. Therefore, make sure that the best Metatrader4 broker in the UK is highly regulated by world-class financial authorities including the Financial Conduct Authority (FCA).
Having a budget before committing to an MT4 broker should be of utmost importance if you want to enjoy your trading experience. This is because UK brokers’ trading charges vary with the availability of market assets and so we advise you to go for a MetaTrader4 broker whose trading fees compliment your investment capital.
Finding a MetaTrader4 broker with a speedy, easy-to-use, and customisable trading platform is essential in improving your trading experience. All our recommended brokers above have reliable MT4 platforms so we advise you to consider them. The best MT4 platform should also be backed up with adequate educational and research tools to make your experience worthwhile.
The best MetaTrader4 broker should have a plethora of tradable instruments to choose from. This is because as a beginner, you may want to try out various instruments before settling for specific ones that suit your trading requirements. Experienced traders may also find themselves in a position where they want to explore other markets. That said, consider a broker for long-term investment.
Some MT4 brokers do not allow you to make deposits using your local currency. This has made many investors go through the hustle of currency exchange which is costly and time-consuming. Not only should your best broker allow you to transact with pounds, but it should also allow transactions through multiple payment methods including bank transfers, debit/credit cards, and e-wallets like PayPal and Neteller.
The first thing that crosses our minds when we experience trading problems is contacting the support service. Therefore the right MetaTrader4 broker in the UK must have a responsive and reliable customer support service. Note that some brokers’ support service is only available five days a week so depending on your trading frequency, choose a broker that fits into your trading requirements.
Testing a broker before diving all in is always recommended to all investors. Whether you are a beginner, intermediate, or expert, it will suit your trading interests to find out if what the broker is offering aligns with your requirements. This includes costs, market assets, trading platforms, among others. You do not want to commit fully and later realise that the broker’s offerings are limited.
No. Since MT4 is a trading platform that offers many technical tools and trading charts for market analysis, you cannot use MT4 without a broker. However, you need a reliable MetaTrader4 broker like the ones we recommend above. This means that they must be highly regulated by top-tier authorities including the Financial Conduct Authority (FCA).
While all the two platforms are world-class, they were all designed to serve different purposes. The MetaTrader4 is specifically designed for retail forex investors whereas the MetaTrader5 is more updated in that it allows access to CFDs, stocks, and futures. That said, MetaTrader5 is better than MetaTrader4 because it is powerful and widely used compared to MetaTrader4.
First, you need to have a MetaTrader4 from the MetaQuotes website. Then, proceed to open a new trading platform where you will log in using your broker’s details and have access to various tradable markets.
You will either need a MetaTrader4 broker or head over to the MetaQuotes website and download the MT4 software. Note that you cannot execute trades on MetaTrader4 without a broker so after you create a trading account with your broker, use the same details to log into your MetaTrader4 account and start investing.
All of our recommended MetaTrader4 brokers can be a great fit for you if you choose the one that complements your trading requirements. Rest assured that they are all safe for your investment capital and so the only thing you will need to worry about is working on your trading strategy. Remember, always test a Metatrader4 broker using their demo accounts before diving all in. That way, you will have a clear view of their offerings and credibility.