7 Best MetaTrader 4 Brokers of 2024

Beginners may also feel more confident with the cTrader interface thanks to its focus on slick navigation. This does come at a price, however, with user reviews indicating slower server response times and execution speeds. Note, Backtesting is a feature offered by both cTrader and MetaTrader, enabling users to test strategies using historical data. Despite this, MetaTrader is more established when it comes to automated trading. Robots, also known as Expert Advisors (EAs), analyse FX price quotes, for example, and take positions based on pre-determined inputs and trading criteria. CTrader tops MetaTrader 4 and MetaTrader 5 due to the usability of its programming language and more sophisticated automated features.

  • However, there is a key difference in that neither cTrader nor MetaTrader 4 offers stocks.
  • This platform provides advanced tools for market analysis, strategy development, and trading execution, all within a customizable desktop software.
  • IFC’s top experts provide daily updates and analysis in addition to providing books, videos and tutorials.
  • Users can access commission-free trading accounts, Islamic swap-free trading accounts as well as commission-based accounts with ultra-low spreads from 0 pips.

TradingView offers a huge library of technical indicators, drawing tools, and chart types for conducting in-depth market analysis. Each alternative trading platform comes with its unique set of features, designed to enhance your Forex trading experience. If you’re searching for MetaTrader 4 alternatives, you’ll find a variety of trading platforms that might better suit your trading style, needs, or preferences. Find out the benefits and downsides and what might be right for you. There is a web-based version of MT4 and MT5 available, though these are not offered by all brokers.

Best for Forex Traders Who Want Choices in Trading Markets: FxPro

If you face any issue with using ATAS, you can contact ATAS customer care for their perfect services. ATAS is the top analytical and trading platform for order flow and volume trading. It consists of all the functions that you need for order flow and volume trading. Clients using ATAS can benefit from a wide range of exclusive tools and indicators. MetaTrader 4 has been on the market for eighteen years and has established a strong, loyal client base. When deciding between MT4 and MT5, you should always consider the account options, range of markets, and execution methods available to you with your broker’s MetaTrader offering.

metatrader 4 alternative

Customer service representatives should also be able to provide details of the license held, leverage opportunities, and whether zero VPNs are allowed. TradingView paid plan customers can access fully customizable timeframes from 1 minute to 12 months. MT4 offers 9 timeframes and MT5 provides 21 timeframes as standard. Overall, cTrader is one of the best alternatives to the MetaTrader franchise for experienced traders. Access to useful market insights and additional trading tools has helped make cTrader one of our top alternatives to MetaTrader.

Market Access

Although if you want to try out other trading platforms, you can look for the best MetaTrader 4 alternatives. EToro is one of the leading social trading platforms in the globe due to the fact that they offer different services in which the community is largely involved. Also, this platform allows investors to trade stocks, CFDs, indices, cryptocurrencies, commodities, Precious metals, and many other instruments. MetaTrader 4 is the most popular platform to trade in the forex markets and perform technical analysis. Some of the Best Metatrader 4 Alternative include eToro, TradingView, and MetaTrader5, among others.

metatrader 4 alternative

EToro provides a multi-asset platform that has revolutionized trading by allowing millions of investors worldwide to share their ideas and strategies in a community-driven environment. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the most popular retail trading platforms. In this guide, we review some of the best alternatives to MetaTrader 4 and MetaTrader 5, comparing everything from indicators and historical data to EA builders and backtesting capabilities. We also consider broker availability and app compatibility, plus demo account downloads. Newer platforms typically offer more advanced charting tools and features compared to MT4, including a wider range of technical indicators, drawing tools, and customization options. These advanced charting capabilities allow traders to conduct more in-depth analysis and utilize the latest innovations.

Alternatives To MetaTrader

For example, CMC Markets has over 12,000 total tradeable symbols on its CMC Next Generation platform, but the symbol cap limits CMC Markets’ MT4 offering to 1,024 instruments. It has nine order types, three order execution options, 30 built-in technical indicators, and nine timeframes to choose from when placing orders. The MQL4 language advisors, Scripts, and indicators may all be customized on this platform. All the important details of the Best Metatrader 4 Alternative platforms are covered here. When we compare cTrader vs MetaTrader, the platforms offer similar device compatibility.

metatrader 4 alternative

CTrader is a full-blown suite contract for difference (CFD) and forex trading platforms. With a wide range of assets, it has become a great alternative for MetaTrader. Users on cTrader can get access to forex, stock indices, commodities, stocks, shares, etc. MT5 is the newest version of the MetaTrader platform and thus receives full support from the developer. MT5 is a great choice for traders who are looking for a more powerful, more advanced trading platform than its predecessor. MT5 offers more order types, technical indicators, analytical objects, time frames, and charts.

Interactive Brokers (IBKR) Trader Workstation (TWS)

69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and What is Crm CFDs work, and whether you can afford to take the high risk of losing your money. Most retail investors and forex brokers like to consider MetaTrader 4.

metatrader 4 alternative

If you’ve traded online in the contracts for difference (CFD) or foreign exchange market, then you would probably already be somewhat familiar with electronic trading platforms. If you’re relatively new to currency trading, then you should know that one of the most widely used and versatile among these platforms is the MetaTrader 4 platform developed by MetaQuotes. The platform is now used by millions of traders around the world to trade Forex, stocks, commodities, indices, cryptocurrencies, and more. It is also the most widely used trading platform for algorithmic and automated traders. Users can access the full range of MetaTrader 4 services, as well as the 99%+ server uptime between MT4 and IG. The broker also provides traders with free and instant access to 18 additional indicators and tools for the MetaTrader 4 platform.

Educational Content and Research for Traders

New users can no longer download the application, and existing users won’t be able to update it in future. It’s likely that the app won’t function without the necessary updates. The MetaTrader 4 platform update will be released on Friday, February 23, 2024.

metatrader 4 alternative

Also look for features that you would like to have, that MT4 currently doesn’t provide. The best alternative platform for you will depend on how you trade and what you currently use MT4…for. You can trade most major markets with ProRealTime, making it a solid option, if you want to expand beyond Forex. The last time I traded with FXCM, they combined positions by ticker, instead of keeping individual trades separate. Many top brokers use cTrader, including Scandinavian Capital Markets.

Order Types/Modes

Some platforms have an integrated community that you can get ideas and tools from. This can be done by opening a small account and contacting their support team several times to see how responsive they are. Dealing desk brokers take the other side of your trade, which can lead to slightly better liquidity, but you’ll pay extra for this service.

Even brokers that are not outright scams can use questionable dealing practices within the MetaTrader platform – such as providing poor execution and causing asymmetrical slippage. Using data from our forex broker comparison tool, here’s a comparison of the MetaTrader platforms offered by the best MT4 brokers. Select your country of residency below to see which regulated forex brokers will accept you as a new customer for trading forex. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research.