Whether it’s for the copy trading, automated systems, or simply preference, many investors choose MetaTrader as their go-to platform for trading. From the well-known MetaTrader 4 platform, to the newer, award winning MetaTrader 5, brokers around the world have adopted this software developed by MetaQuotes to give their clients the best possible experience.
If you’re new to MetaTrader, and/or want to trade with the best MetaTrader providers out there, stick around. This article will breakdown which broker’s platform will best suit your needs
A Quick Breakdown…
Over-the-counter (OTC) markets make up some of the largest financial markets. The largest of the OTC markets is Forex, or FX. Forex trades an impressive 6.6 Trillion USD on a daily basis. A number estimated to double in the coming years.
As in the last 5 years, the Boom in the cryptocurrency market has triggered a massive investment push in the global OTC market. With such huge opportunities in Fx, CFDs, and cryptocurrency, there has been an increased demand for brokers who provide the best products, technology, services, and more of a one-stop-shop solution for the new age investor and traders.
Related: How to Trade Forex with Tradeview
As the market has evolved, so has the trading platform. That being said, meta-quotes have been at the forefront of Fx trading for retail and institutional traders. Not only did it carve the way for online trading, but also brought algorithmic trading to every individual trader. Meta-trader 4 (MT4) was, and is, still now the most used trading platform for Fx and CFDs.
Meta-trader 5 (MT5) has noteworthy updates over MT4 and won the Best Multi-Asset Platform Award and the Global Forex Awards 2021.
So the question now becomes:
Which broker should you choose? and who are amongst the best brokers who provide MetaTrader 4/5 as their primary trading platform and are there any alternatives to meta-trader.
Related: Discount Brokers vs Competitive Brokers
I have spent over a decade in the FX industry and used most of the trading applications out there, but nothing comes close to MT4. So does that mean any broker that offers mt4 is a good broker?
Certainly not, there are many parameters for one to choose an FX broker. Having MT4 or MT5 is certainly one of them but other aspects such as spreads, commission, swaps, deposit, and withdrawal, and so on also matter when choosing a Fx broker.
Best MetaTrader Brokers
A few Fx brokers that I think you should consider are:
Tradeview Markets
Established in 2004 Tradeview has racked up over 20,000 trading accounts and is one of the only few brokers who provides exchange trading and Fx products. An important feature for many clients who enjoy the ability to trade more than one financial instrument. Another prominent feature of Tradeview is that it has more trading platform options when compared to other brokers. This gives traders more options to adjust to their needs and wants.
Trading platforms:
FOR FX MT4, MT5, C-TRADER, AND CURRENEX.
FOR STOCKS AND OPTIONS: MT5, STERLING PRO, LIGHTSPEED AND DAS TRADER, AND RHINO TRADER.
What makes Tradeview standout from the competition is their personalized customer experience on the MetaTrader platforms with proprietary technology. Tradeview’s offering of these premier level platforms comprised of a complete turnkey solution for online trading results in the most in-depth ECN platforms the industry has to offer.
If you want to get the full experience of trying a trading platform, open a free demo account.
There are many parameters to look at while choosing a broker. It is important to choose an Fx broker not only on the basis of the trading application used but also on the products and services they offer.
To get the best of the trading experience and trade execution along with other features, which include programming and algorithmic trading. Choose brokers that offer new technology that gives you the edge to be on top of the market.
IG
Established in 1974. Their valuable, up-to-date content established a powerful brand that now has world-wide recognition. Their content is made for new and experienced traders alike. Proof of this is in their nearly 250,000 global clients. Their main selling point is that their platform designed by investors for investors. Where trading is available 24 hours a day and some markets are open over the weekend.
Trading platforms: MT4, IG’s prop trading platform, and L2dealer.
XM
‘Big, Established, and Experienced’. XM boasts 3,500,000 clients served by a 450 person team of professionals with many years of experience in the industry. They have over 1000 trading instruments, spreads as low as 0.6 pips, 888:1 leverage, and up to $5.000 in bonus.
Trading platforms: MT4, MT5.
Image from XM.
IC markets
Established in 2007 in Australia. IC Markets’ reason for existence comes from the want to build a client-centric trading solution. Offering the latest technology to retail and institutional traders alike. Their mission statement is to create the best and most transparent trading experience for retail and institutional clients alike allowing traders to focus more on their trading.
They have spread from 0,0 Pips, fast orders execution, institutional-grade trading, and access to global markets like Forex Market, Commodities, Stocks, Indices, Bonds, and Digital Currencies. IC Markets is compatible with Windows, MAC, Android, iOS, and Web Browsers. It also gives the possibility to make instant deposits, fast withdraws, and transfer funds with 0% commissions with PayPal, Visa, MasterCard, Skrill, and Neteller.
Trading platforms: MT4, MT5, and C-TRADER.
Gain Capital
Gain capital was established in 1999 and is a part of the StoneX group. The CFD and FX brands are City Index, Forex.com, and Daniel’s Trading. They offer their services to over 140,000 retail and institutional investors.
Image from Gain Capital.
CITY INDEX
With CityIndex Traders have access to powerful platform technology, competitive spreads, education, 24h trading support, funds safety and a regulated provider.
Trading platform: MT4
FOREX.COM
“We’ve been proud to connect independent traders to the potential of the global currency markets since 2001. Today, we continue to challenge ourselves to provide traders with what they need to succeed.”
Image from Forex.com.
Trading platform: MT4 and NinjaTrader
XTB
Established in 2001 as the first polish leveraged Fx broker. Also known as XTrade brokers. XTB is listed on the Warsaw stock exchange in 2016. This broker provides a White label and Institutional liquidity. It has over 2100 instruments available, comprehensive education, an innovative platform, more than 353.000 customers and fast and qualified support. With it, traders have over 2100 global markets including Forex, Indices, Commodities, and Stock CDFs.
Trading Platforms: Xstation , Xopenhub (MT4)
Plus 500
Plus 500 groups were founded in 2008. From the very start, Plus 500 founders developed their very own proprietary trading platform. With time, versions were developed for Mac and Linux. Therefore, it would come to no surprise that throughout the years Plus 500 has become a household name. By 2018, Plus 500 became one of the most important mid-cap stocks in the London Stock Exchange. Among the main markets traders can find are Forex, CDFs, Indices, and Cryptocurrencies.
Plus 500 is regulated by the Seychelles Financial Services Authority and it is an FTSE 250 company listed on the London Stock Exchange’s Main Market for Listed Companies. It has over 10 different paying methods to choose from.
Trading platforms: Proprietary trading platform Plus500.
The image is taken from Plus500.
Pepperstone
Established in 2010 based in Australia. As over 73,000 traders across the globe with over 12.55B traders every day. It has over 1000 trading instruments where traders can trade an extensive range of CFDs on FX, Commodities, Cryptocurrencies, Shares, ETFs, and more. Pepperstone offers 24/7 support offers to trade with FX CFD spreads from 0.0 pips on 14 pairs.
Trading platforms: MT4, MT5, AND C-TRADER.
The image is taken from Pepperstone.
