Sterling Savvy

>

10 Best MT4 Brokers UK 2024

Tobi Opeyemi Amure
Reviewed by:
Best MT4 Brokers UK

In a nutshell, the best MT4 brokers in the UK are Trade Nation, known for its transparent pricing and excellent customer service; IG, offering a wide range of tradable instruments and extensive market research tools; and Pepperstone, renowned for its fast execution speeds and low spreads.

Looking for your perfect MetaTrader 4 broker?

I’ve tested, scored, and ranked the best MT4 brokers in the UK.

Whether you’re seeking security, user-friendliness, or extensive trading options, I’ve got you covered.

Overall best
Award-winning
4.6
4.5
Description:

Access some of the lowest-cost fixed-spreads around, on the markets you most want to trade.

Description:

Award-winning platform suitable for beginner investors or experienced traders.

Pros:
  • Low cost trading without commission
  • Spreads from 0.0 with commission
  • Choice of trading platforms
Pros:
  • Over 19,000 tradeable instruments
  • Top-notch educational tools
  • First-class web trading platform
Disclaimer:
75% of retail investor accounts lose money when trading CFDs with this provider.
Disclaimer:
69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Overall best
4.6
Description:

Access some of the lowest-cost fixed-spreads around, on the markets you most want to trade.

Pros:
  • Low cost trading without commission
  • Spreads from 0.0 with commission
  • Choice of trading platforms
Disclaimer:
75% of retail investor accounts lose money when trading CFDs with this provider.
Award-winning
4.5
Description:

Award-winning platform suitable for beginner investors or experienced traders.

Pros:
  • Over 19,000 tradeable instruments
  • Top-notch educational tools
  • First-class web trading platform
Disclaimer:
69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

10 Best MT4 Brokers UK Ranked

Here is a quick list of the best MT4 brokers to use in the UK based on my hands-on analysis:

  1. Trade Nation – Overall best MT4 broker in the UK
  2. IG – Best MT4 broker UK for beginners
  3. Pepperstone – Best for all of MetaTrader, cTrader & TradingView
  4. AvaTrade – Best for user-friendly trading
  5. Tickmill – Best MT4 broker for low spreads & high-speed execution
  6. XM – Best for diverse trading instruments & customisability
  7. IC Markets – Best for advanced traders & scalping strategies
  8. FxPro – Best for professional traders & high execution quality
  9. FP Markets – Best for seamless trading & customisation options
  10. Markets.com – Best for comprehensive analysis tools

Best MetaTrader 4 Brokers Compared for UK Traders

Here I’ve compared the MetaTrader 4 brokers based on four key rating criteria you must consider and compare.

RankMT4 BrokerMinimum depositS&P 500 index
CFD fee
No. of tradeable
instruments
Tier-1 licenses
(regulation)
1Trade Nation£00.45 points (average spread cost)6012
2IG£50$2.619,5378
3Pepperstone£00.4 points (average spread cost)2,3423
4AvaTrade$1000.51,2604
5Tickmill$1000.47252
6XM£50.51,4294
7IC Markets$2000.23,5832
8FxPro$1001.02,2492
9FP Markets$500.510,0002
10Markets.com$1001.02,1793

Best MT4 Broker UK Reviews

Research shows in 2023, around 2 in 5 Brits (42%) invest and trade, up from 36% in 20211.

Choosing the best MT4 broker is crucial for newcomers in the market.

Having worked in the retail investment sector in London over the last four years, I had the opportunity to experience the rise first-hand.

Additionally, in my role working for one of the UK’s leading financial companies, “a trustworthy and respected provider of news, education and market analysis for the everyday investor”, I was able to work with and test some of the biggest UK brokers on the market.

Using my experience in this field, I’ve compiled a list of the best MT4 brokers in the UK based on five key criteria:

  1. Minimum deposit
  2. S&P 500 index CFD fee
  3. No. of tradeable instruments
  4. Tier-1 licenses (regulation)

Factors such as usability, trading platforms available, research tools, education materials, and additional features were also considered.

All the MetaTrader 4 brokers I’ve reviewed below are regulated by the UK’s financial watchdog, the Financial Conduct Authority (FCA).

You can read about how we test platforms here.

This article was reviewed by Tobi Opeyemi Amure, a trading expert and writer at InvestopediaInvesting.com, and Trading.biz.

1. Trade Nation – Overall best MT4 broker in the UK

Trade Nation – Overall best MT4 broker in the UK

Trade Nation emerges as a distinguished choice for traders in the UK seeking a robust MetaTrader 4 (MT4) platform experience.

Regulated by the Financial Conduct Authority (FCA) among other top-tier regulatory bodies, Trade Nation assures a high level of security and adherence to strict financial standards, providing traders with peace of mind.

This broker specialises in offering a wide array of trading instruments, including major, minor, and exotic forex pairs, commodities like oil and gold, and indices from leading global markets, as well as stocks and bonds, catering to the diverse needs of its clients.

Trade Nation’s platform is designed to accommodate both beginner and advanced traders, offering two main account types: a zero-spread account with a low commission of $3.50 per lot and a commission-free account that features higher spreads but is more suited to those new to trading.

The flexibility in account types, combined with the option to start with any amount for the commission-free account and a $1,000 minimum for the zero-spread account, makes Trade Nation accessible to a broad spectrum of traders.

Additionally, the broker supports various funding methods, including debit/credit cards, bank wires, and more, adding an extra layer of convenience.

One of the key advantages of trading with Trade Nation is its dedication to enhancing the trading experience through proprietary plugins and access to Trading Central’s technical insights, which offer real-time coverage and predictive analysis across numerous currency pairs.

Though the MT4 demo platform is restricted to Trade Nation’s proprietary platform, the broker compensates with exceptional educational resources and customer support, ensuring traders have the knowledge and assistance they need to succeed.

Despite the absence of an MT4 demo account, Trade Nation’s commitment to competitive spreads, especially in its raw account which offers spreads from 0.0 pips, combined with fast and reliable execution, positions it as a prime choice for UK traders.

The leverage of up to 1:500 offers additional flexibility, allowing traders to scale their positions according to their risk tolerance and trading strategy.

Trade Nation distinguishes itself as one of the best MT4 brokers in the UK by offering a comprehensive trading solution that includes competitive pricing, a wide range of markets, and robust regulatory oversight. Its focus on education, customer service, and flexible account types ensures that both novice and experienced traders can find a trading environment that suits their needs.

Key rating criteria:

Minimum depositS&P 500 index
CFD fee
No. of tradeable
instruments
Tier-1 licenses
(regulation)
£00.45 points (average spread cost)6012

Read my complete Trade Nation review.

Pros:

  • Deposits and withdrawals are offered at no additional cost
  • Access to superior educational and research resources
  • Reliable and responsive customer service

Cons:

  • Limited range of available trading products
  • Absence of live chat support for immediate assistance
  • The desktop trading interface does not feature enhanced security logins

75% of retail investor accounts lose money when trading CFDs with this provider.

2. IG – Best MT4 broker UK for beginners

IG – Best MT4 broker UK for beginners

IG, a well-established UK investment services firm, is highly regarded for offering traders secure access to MetaTrader 4. This firm, monitored by top-tier regulators, ensures a safe trading ecosystem.

With years of market knowledge, IG enhances the MT4 platform by providing reliable liquidity sources, clear pricing, and dedicated trade monitoring.

The broker delivers an institutional-quality experience in user experience, trade execution, and risk management.

Additionally, IG invests significantly in compliance frameworks to protect client interests. This trust is further boosted by segregated client funds, partnerships with tier-1 banks, and ISO-certified data security.

Comprehensive Market Access and Advanced Trading Tools

IG enables traders to explore global markets through MT4, offering access to over 17,000 instruments, including CFDs on equities, commodities, indices, and forex pairs.

Traders can manage risks with advanced order types like stops and limits, while tools from Autochartist and PIA First provide data-driven trading insights.

IG’s mobile apps offer responsive and fully functional access, facilitating around-the-clock opportunity discovery across various markets within a reliable MT4 environment.

High-Quality Execution and Reliable Server Uptime

As a pioneering CFD provider, IG boasts a dedicated trade infrastructure that ensures consistent pricing, execution, and connectivity.

The broker offers competitive spreads, exemplified by average spreads as low as 0.744 pips on EUR/USD, and transparently measures order-matching performance.

Backed by LSEG technology, IG guarantees 99.9% server uptime annually, ensuring uninterrupted access during high-volatility periods. This combination of responsiveness and resilience provides traders with continuous access during critical trading times.

Regulatory Compliance and Secure Trading Environment

IG is committed to transparency, regularly reporting execution quality data to regulatory bodies like the FCA.

Trader funds are safeguarded under the Financial Services Compensation Scheme up to £85,000, and client assets are securely held in segregated Barclays accounts, separate from company finances.

The broker enhances data security with dedicated cybersecurity teams and protocols, including two-factor authentication, email encryption, and strict access management for inactive sessions.

This comprehensive approach allows traders to leverage the capabilities of MT4 within a clearly defined and optimised compliance framework for retail trading.

Key rating criteria:

Minimum depositS&P 500 index
CFD fee
No. of tradeable
instruments
Tier-1 licenses
(regulation)
£50$2.619,5378

Read my complete IG review.

Pros:

  • Exceptional online trading platform experience
  • Outstanding educational resources for traders
  • Diverse and efficient funding and cash-out methods

Cons:

  • Elevated fees for stock CFD trading
  • Narrow selection of tradable assets
  • Delayed response times from customer service

69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

3. Pepperstone – Best for all of MetaTrader, cTrader & TradingView

Pepperstone – Best for all of MetaTrader, cTrader & TradingView.

Pepperstone stands out as a top MT4 broker in the UK, offering a premier ECN trading platform for retail traders.

This broker enhances MT4 with superior charting tools, a wide range of technical indicators, and smooth integration with the Pepperstone Razor ECN account. The platform combines advanced trading technology with a user-friendly interface.

Pepperstone’s MT4 is ideal for high-speed trading styles like scalping and algorithmic trading, thanks to its institutional-quality ECN liquidity and ultra-fast connectivity.

Advanced Charting and Analysis Tools

Pepperstone equips MT4 with more than 65 technical indicators and various drawing tools for different analysis methods.

Traders can use tools like Stochastics for momentum analysis, Fibonacci retracements for identifying support/resistance, and Moving Averages for trend plotting across nine timeframes.

The platform’s interactive charts support detailed visual analysis, featuring visual deal notifications and customisable alerts.

Traders can switch between multiple chart templates for different assets or strategies easily. This flexibility aids in efficient market scanning.

Pepperstone also offers full access to the MQL4 community marketplace, where traders can find thousands of custom indicators and Expert Advisors (EAs). These tools can be tested through strategy backtesting before being used in live trading.

ECN Execution and Competitive Spreads

Pepperstone’s MT4 features direct market access and true STP order flow with institutional-grade execution through ECN integration.

Connections to top liquidity providers like Barclays and J.P Morgan ensure low average spreads, with EUR/USD spreads as low as 0.1 pips.

The ECN model offers true market pricing across forex, metals, indices, and energies, reducing costs for active traders through lower spreads and transparent commission pricing.

Orders are executed quickly, with tight spreads and minimal slippage, even during volatile periods.

Algorithmic Trading and Expert Advisors

Pepperstone supports algorithmic trading in MT4 with integrated MQL4 programming and strategy deployment tools.

Traders have access to a vast library of scripts for developing complex automated strategies. The platform allows detailed backtesting with historical data for performance and risk assessment before using real capital.

Traders can easily launch Expert Advisors with options for simulating live trading or optimisation.

For those less technically inclined, Pepperstone offers a range of pre-built EAs through its MQL marketplace integration.

These cater to various strategies such as breakout detection, grid trading, hedging, and volume profiling. Traders have lifelong access to these tools for easy and safe automation.

Pepperstone provides UK traders with a comprehensive ecosystem to maximise the advantages of MetaTrader 4 as an advanced ECN trading platform, featuring comprehensive analytics, fast execution with Executable Streaming Quotes (ESQ), and seamless integration of Expert Advisors.

Key rating criteria:

Minimum depositS&P 500 index
CFD fee
No. of tradeable
instruments
Tier-1 licenses
(regulation)
£00.4 points (average spread cost)2,3423

Read my complete Pepperstone review.

Pros:

  • Quick and entirely online process for setting up an account
  • Excellent customer support
  • Effortless and cost-free options for funding and payouts

Cons:

  • Predominantly offers Contracts for Difference (CFDs)
  • The MetaTrader trading platform offers limited advanced features

4. AvaTrade – Best for user-friendly trading

AvaTrade – Best for user-friendly trading

AvaTrade’s MT4 platform is renowned for its intuitive interface and professional trading tools, catering to traders of all levels.

It provides an immersive trading experience with interactive charts across nine timeframes, 23 analytical objects, and access to a wide range of technical indicators, enabling thorough market analysis and informed trading decisions.

The platform integrates automated trading, allowing traders to develop, test, and optimise custom Expert Advisors (EAs) using MQL4.

This feature is particularly beneficial for seasoned traders, offering a robust solution for both manual and algorithmic trading.

User Interface and Trading Tools

AvaTrade’s MT4 is marked by its user-friendly interface, offering seamless navigation and real-time market data access.

Traders can customise their workspace with floating windows and multiple chart views, enhancing efficiency in analysis and execution.

The platform includes over 30 built-in technical indicators and analytical tools, such as Moving Averages, MACD, and Bollinger Bands, applicable across various timeframes from a minute to a month.

These interactive charting features aid traders in identifying trends, patterns, and optimal trade entry or exit points.

Advantages of Commission-Free Trading

AvaTrade adopts a zero-commission model for forex and CFD trading on MT4, offering significant cost savings, especially for novice retail traders with limited capital.

Seasoned traders also benefit from the absence of commissions, enabling them to place more trades and capitalise on smaller market movements affordably.

The commission-free structure is particularly advantageous for profitable traders, allowing them to retain more net profits and making active trading a more viable primary income stream.

Embracing Copy Trading

AvaTrade’s MT4 includes copy trading capabilities, allowing traders to replicate the positions of experienced third-party signal providers automatically.

This feature provides novice traders with a way to diversify their trading techniques by following strategies from verified experts.

The copy trading module, accessible through the platform, lets traders review the performance metrics of numerous signal providers to find trading styles that match their risk appetite.

Traders can set risk management parameters like stop losses, take profits, maximum trade values, and the number of concurrent open trades, ensuring risk oversight while benefiting from experts’ knowledge.

For seasoned traders, copy trading offers an opportunity to earn supplementary income by sharing profitable strategies as signal providers, thereby potentially turning trading into a sustainable full-time career.

Key rating criteria:

Minimum depositS&P 500 index
CFD fee
No. of tradeable
instruments
Tier-1 licenses
(regulation)
$1000.51,2604

Read my complete AvaTrade review.

Pros:

  • Streamlined and swift process for opening accounts
  • No charge for deposits and withdrawals
  • Excellent resources for market analysis

Cons:

  • Limited to trading CFDs, forex, and cryptocurrencies
  • Significant charges for account inactivity
  • CFD trading costs are moderate

5. Tickmill – Best MT4 broker for low spreads & high-speed execution

Tickmill – Best MT4 broker for low spreads & high-speed execution

Tickmill distinguishes itself as a leading MT4 broker in the UK, particularly noted for its ECN execution model and competitive commission rates.

The broker tailors its institutional-grade MT4 platform to equip retail traders with sophisticated tools for in-depth market analysis, strategy backtesting, and algorithmic trading.

Tickmill’s MT4 platform features a user-friendly interface, offering seamless access to real-time pricing for over 60 currency pairs and CFDs.

Integrated with Tickmill’s ECN liquidity pools, traders enjoy narrow spreads and swift execution speeds, ideal for scalping and high-frequency trading strategies.

Customisable Features and Tools

Tickmill’s MT4 is equipped with more than 30 technical indicators, graphical tools, and extensive customisation options to enhance the trading experience.

Traders can modify workspace layouts and create multiple chart windows, incorporating various timeframes, indicators, and drawing tools for multi-asset analysis.

The platform enables one-click trading for rapid order execution and features customisable buy and sell buttons on chart windows.

Visual deal notifications and audible alerts for critical events like order fill and margin calls are also available, increasing efficiency and enabling traders to capitalise on emerging opportunities.

Tickmill’s MT4 also supports strategy optimisation and backtesting capabilities, with integrated support for the MQL4 programming language.

Custom indicators and Expert Advisors (EAs) can be natively coded on the platform, optimised using historical tick data, and then deployed for live trading.

ECN Commission Structure

Tickmill employs an ECN execution model, connecting traders directly to Tier-1 liquidity providers through specialised bridges.

This approach eliminates conflicts of interest and allows traders to benefit from institutional spreads and optimal prices across markets.

Tickmill charges a competitive commission starting from $3.50 (£2.90) per standard lot round-trip on forex, which is notably lower than average industry ECN commission rates.

High-volume traders executing more than 15 lots per month can enjoy commission discounts of up to 25%, further reducing costs. Tickmill’s commission structure makes frequent trading more accessible, even for those with smaller accounts.

By implementing a transparent ECN model with low commissions, Tickmill ensures that traders keep a higher share of their profits while accessing deep liquidity pools for tight spreads and rapid execution. This creates ideal trading conditions for scalpers and algorithmic traders who execute high volumes daily.

User Experience and Accessibility

Tickmill optimises MT4 as a comprehensive trading solution, integrating analysis, execution, and account management in a single interface. Client dashboard panels provide one-click access to account details, trading reports, news feeds, and support resources.

The platform’s layout is fully customisable, with modules like market watch windows and chart toolbars adaptable to user preferences.

Floating windows can be arranged for enhanced efficiency and productivity during trading sessions. Additionally, responsiveness has been optimised for smooth navigation of charts and order entry on both desktop and mobile devices.

For global accessibility, Tickmill’s MT4 platform is available through native desktop applications for Windows and MacOS, as well as iOS and Android mobile apps.

These apps enable traders to analyse charts and respond to market movements on the go without sacrificing functionality. Alert notifications are also pushed across devices, ensuring timely responses even when away from workstations.

Robust security mechanisms protect client confidentiality and secure fund transfers throughout the trading infrastructure.

By prioritising safety in its platform design, Tickmill assures traders of the integrity of its trading systems and the security of their data.

Key rating criteria:

Minimum depositS&P 500 index
CFD fee
No. of tradeable
instruments
Tier-1 licenses
(regulation)
$1000.47252

Pros:

  • Competitive fees for forex trading
  • Quick and straightforward account setup
  • No charges for adding or withdrawing funds

Cons:

  • The trading platform’s design and functionalities feel antiquated
  • The news feed offers only fundamental features

6. XM – Best for diverse trading instruments & customisability

XM – Best for diverse trading instruments & customisability

XM is recognised as one of the best MT4 brokers in the UK, offering comprehensive access to MetaTrader 4 through a secure trading platform.

With a minimal account deposit requirement of just £5 and a wealth of educational resources, XM makes MT4 accessible to both new and experienced retail traders. This low entry barrier is coupled with the benefits of tight spreads and fast ECN execution.

Low Deposit Requirement and Account Accessibility

A key feature of XM’s MT4 service is its low threshold for market entry, requiring only a nominal £5 deposit to open accounts, with no maintenance fees.

This approach opens the market to newcomers with limited capital, while still providing full platform functionality.

Setting up an MT4 account with XM is quick and straightforward, with remote support available for verification through video calls. Once the account is funded, traders gain access to the powerful MetaTrader platform and a diverse range of assets for trading.

XM also offers demo accounts for risk-free practice and has tailored Standard and Executive Accounts for live trading to suit different client profiles, ensuring inclusivity for both casual traders and high-net-worth individuals.

Comprehensive MT4 Tutorials and Educational Resources

XM places a strong emphasis on trader education, offering detailed MT4 tutorials through the XM Academy. These modules use visuals, motion graphics, and expert narration to make learning accessible across different devices.

Topics covered range from basic platform navigation to advanced topics like automation script interfacing and technical indicator integration.

In addition to these resources, XM provides an eBook focused on maximising the potential of MetaTrader, covering aspects like chart analysis, backtesting, trading robot development, and strategy optimisation.

Personalised support is also available through live webinars and one-on-one coaching, helping clients at all skill levels improve their MT4 expertise.

Tight Spreads and Trading Efficiency

XM’s MT4 platform offers traders tight spreads in all market conditions by aggregating liquidity from over ten large banks and ECNs.

Furthermore, XM’s commission-free Forex trading ensures competitive costs per round turn, enhancing the viability of various execution styles.

The platform’s efficiency is bolstered by dedicated VPS services, ensuring uninterrupted connectivity essential for strategies like latency arbitrage and high-frequency algorithms.

Discretionary traders also benefit from fast STP fulfillment, which can lead to better order fill rates and additional revenue opportunities.

Overall, XM’s combination of accessible learning resources, low entry barriers, robust trading infrastructure, and tight spreads makes it an ideal platform for traders to develop their skills on one of the industry’s most powerful trading platforms.

Key rating criteria:

Minimum depositS&P 500 index
CFD fee
No. of tradeable
instruments
Tier-1 licenses
(regulation)
£50.51,4294


Pros:

  • Competitive fees for stock CFDs and withdrawals
  • Simplified and rapid process for account registration
  • Comprehensive educational resources available

Cons:

  • A narrow range of trading instruments
  • Moderate charges for forex and stock index CFDs
  • Lack of protection for clients outside the EU

7. IC Markets – Best for advanced traders & scalping strategies

IC Markets – Best for advanced traders & scalping strategies

IC Markets excels as a top MT4 broker in the UK by tailoring the institutional-grade MetaTrader 4 platform to be accessible for new retail traders.

It simplifies the user experience with custom tools and educational resources, helping beginners fully leverage MT4 technology while reducing complexities.

The broker also offers extensive customer support, including ongoing coaching and advice to foster trading success.

User-Friendly Interface and Ease of Navigation

IC Markets’ MT4 platform features a streamlined layout emphasising efficient access and minimal clutter.

This design enables new traders to easily navigate essential functions such as opening market watch panels, creating charts with overlaid indicators, and managing active positions.

Pre-built screen templates are available for analysis and order management, optimising daily efficiency and allowing traders to concentrate on trading rather than interface configuration.

The platform’s responsiveness is finely tuned for a seamless experience across both desktop and mobile applications, catering specifically to beginners.

Educational Resources and Support for New Traders

As a leader in trader education, IC Markets integrates over 200 hours of training content directly into the MT4 workspace.

This includes modules explaining core concepts of technical and fundamental analysis, risk management, and platform use, supported by videos, text, and image overlays. Quizzes reinforce these concepts at each stage.

The broker also offers four eBooks with dedicated MT4 sections, allowing traders to advance at their own pace. Personal account managers are available for queries, with support accessible via call, email, or on-platform chat.

Additionally, IC Markets regularly hosts virtual demos and webinars.

Trading Tools and Features Suitable for Beginners

IC Markets’ MT4 is designed with new traders in mind, featuring one-click dealing, custom indicators to highlight trading opportunities, and risk management tools.

Auto-charting plots technical studies such as the Relative Strength Index (RSI), letting beginners focus on trading rather than setup complexities. Mini-courses built into the platform guide users in adding both standard and custom indicators.

A practice account is available for testing learned concepts without risking capital. Over 40 technical overlays aid in analysis, helping to identify chart patterns and momentum shifts with reliable signals.

IC Markets streamlines both the platform experience and trader education, ensuring that beginners can gradually develop into experts.

With MetaTrader 4 access designed for progressive and sustainable mastery, IC Markets stands out as an ideal choice for traders embarking on their trading journey.

Key rating criteria:

Minimum depositS&P 500 index
CFD fee
No. of tradeable
instruments
Tier-1 licenses
(regulation)
$2000.23,5832

Pros:

  • Competitive pricing for forex trading
  • Streamlined and efficient account setup process
  • No charges for depositing or withdrawing funds
  • Availability of both standard and raw spread account options

Cons:

  • Restricted variety of available trading products
  • Delayed response times from live chat customer service
  • Absence of protective measures for clients outside the European Union

8. FxPro – Best for professional traders & high execution quality

FxPro – Best for professional traders & high execution quality


FxPro stands out as one of the best MT4 brokers in the UK, offering a customised MetaTrader 4 ecosystem with exceptional trade execution capabilities.

Its high-end infrastructure includes dedicated market depth tools, advanced order matching algorithms, and a No Dealing Desk (NDD) model for direct liquidity access.

This ensures clients get optimal entry and exit levels, even in volatile or high-volume conditions.

Advanced Trading Infrastructure and Competitive Pricing

FxPro leverages relationships with tier-1 banks and leading ECNs to provide traders with stable liquidity and real-time pricing across six asset classes.

Depth of Market data offers insights into bid/ask queues, facilitating smarter entry decisions, while price improvement algorithms ensure the best rates during order fulfillment.

The broker also offers raw ECN spreads as low as 0.0 pips on EUR/USD trades after rebates, and commission pricing starting at $45 (£37) per million round turn, creating a competitive environment for short-term traders.

Comprehensive Technical Analysis Tools

FxPro enhances MT4’s capabilities with additional tools like Trading Central’s Pattern Recognition scanner, which detects over 30 candlestick patterns in real time across selected instrument pairs and time intervals.

The integrated Technical Insight panel from Trading Central provides actionable data. Traders can install custom indicators directly from the Market tab and perform backtesting against historical tick data without needing to code.

The platform’s multiple chart windows facilitate efficient cross-asset analysis, and traders can switch between nine timeframes for detailed analysis on a single pair.

User Experience and Platform Customisability

FxPro prioritises user experience (UX) in its MT4 offering with high-resolution visuals, customisable workspaces, and enhanced accessibility.

Chart toolbars, market watch menus, and account metrics can be tailored to individual preferences or set from templates for ease of use.

The platform supports one-click dealing and advanced alerts (visual, auditory, email/SMS) that trigger around crucial technical levels and pricing events. Traders can effortlessly switch between desktop, web, and mobile applications, maintaining workflow continuity.

FxPro presents seasoned intraday traders with a powerful solution for scalable profitability on its MT4 platform.

With top-tier execution services, responsive design, robust analytics, and competitive commission pricing, FxPro solidifies its position as a leading MT4 broker in the UK.

Key rating criteria:

Minimum depositS&P 500 index
CFD fee
No. of tradeable
instruments
Tier-1 licenses
(regulation)
$1001.02,2492

Pros:

  • Exceptional process for opening accounts
  • Excellent support from customer service
  • No cost for making deposits and withdrawals

Cons:

  • Limited to trading CFDs and forex
  • Elevated fees for trading certain stock CFDs
  • Charges incurred for account inactivity

9. FP Markets – Best for seamless trading & customisation options

FP Markets – Best for seamless trading & customisation options


FP Markets stands out as a leading MT4 broker in the UK, offering a tailored and immersive MetaTrader 4 ecosystem suitable for both manual and automated trading.

The broker’s commitment to ultra-fast connectivity, institutional-grade liquidity, and platform responsiveness amplifies the core strengths of MT4 in execution quality and analytics.

FP Markets further enhances the platform’s functionality with plugins like Autochartist for pattern recognition and access to Trading Central’s technical insights, ensuring a highly intuitive user experience.

Advanced Charting Tools and Technical Indicators

FP Markets’ MT4 platform is equipped with over 40 pre-installed technical indicators, including widely-used Bollinger Bands, MACD, and Stochastics, as well as custom oscillators like Bears Power.

These indicators are user-friendly, allowing traders to adjust parameters easily without the need for coding.

The platform also features Trading Central’s real-time pattern identification scanner, covering various patterns from channel breaks to double tops and harmonic formations.

Interactive charts provide detailed analysis down to one-minute intervals across multiple assets, complemented by visual deal notifications and customisable pop-up alerts.

High-Speed Execution and Deep Liquidity

The broker establishes direct connections with top-tier liquidity providers such as Citi and Goldman Sachs, ensuring stable pricing in diverse market conditions for assets like forex, metals, energies, and global indices.

FP Markets’ ECN model achieves execution speeds under 30 milliseconds for most orders, enhancing trading efficiency.

By sourcing liquidity from multiple institutions, FP Markets guarantees reliable execution, even during news events and volatility spikes, which is crucial for short-term traders sensitive to platform latency.

Customisability and User-Friendly Interface

FP Markets prioritises customisability in its MT4 experience, allowing traders to personalise workspace features and colors. The platform supports floating chart windows, which can be arranged across multiple monitors for simultaneous asset observation.

One-click trading simplifies order execution, and traders can set up new order and position notifications as pop-up alerts, audio signals, or via email and SMS, offering flexibility.

FP Markets provides an optimal platform for exploiting MT4’s capabilities, combining robust tools, global multi-asset access, rapid connectivity, and a responsive user interface.

This makes it an excellent choice for traders seeking to maximise their potential in the dynamic world of online trading.

Key rating criteria:

Minimum depositS&P 500 index
CFD fee
No. of tradeable
instruments
Tier-1 licenses
(regulation)
$500.510,0002

Pros:

  • Competitive charges for forex trading
  • Swift and straightforward process for account setup and funding
  • High-quality educational resources

Cons:

  • Narrow selection of trading instruments
  • Web and desktop platforms need modernisation
  • Research tools do not meet high standards

10. Markets.com – Best for comprehensive analysis tools

Markets.com – Best for comprehensive analysis tools

Markets.com, licensed by top-tier regulators like the Financial Conduct Authority (FCA), offers UK traders reliable access to MetaTrader 4.

This broker combines institutional-grade infrastructure with dedicated compliance teams to ensure robust security protocols, safeguarding the entire trading experience.

Robust Regulatory Compliance and Secure Trading

As an FCA-regulated broker, Markets.com adheres to stringent standards regarding capital adequacy, trade transparency, and risk management oversight.

The regulator closely monitors the broker’s activities to ensure compliance and accountability.

Client interests are further protected through measures like negative balance protection, guaranteed stop-loss tools, and a transparent display of fees and commissions per trade.

Compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations reinforces the integrity of trading counterparts within the ecosystem.

Advanced Trading Tools and Customisable Features

Markets.com enhances the MetaTrader 4 experience with proprietary plugins like Reuters News, which provides real-time coverage of over 180 currency pairs, encompassing fundamentals, technical events, and predictive analysis.

Traders also benefit from Autochartist pattern recognition capabilities, which aid in identifying technical formations.

The platform allows for the direct import of custom indicators and EAs from CodeBase through MetaEditor, and supports detailed backtesting of strategies across historical data.

Workspaces on Markets.com’s MT4 are highly customisable, enabling traders to tailor chart layouts and workspace modules to their preferences.

Competitive Spreads and Efficient Trading

Markets.com offers competitive spreads by sourcing liquidity from multiple institutions rather than relying on a single provider.

Major currency pairs typically have spreads below 1 pip, combined with fast Straight Through Processing (STP) execution, which ensures high certainty and reduces the likelihood of re-quotes, especially over shorter timeframes.

These competitive spreads and advanced execution capabilities translate into reduced trading friction, enhancing profit potential for discretionary traders.

Automated strategies also benefit from reliable order fulfillment, even in sideways or low-volatility market phases. Furthermore, the broker maintains transparent commission structures, contributing to overall transparency.

Markets.com provides traders with a trustworthy and secure MetaTrader 4 platform, enhanced by rich analytics through Reuters and tight spreads, all under the diligent oversight of the FCA.

This combination of factors makes Markets.com an efficient choice for traders seeking a robust and secure trading environment.

Key rating criteria:

Minimum depositS&P 500 index
CFD fee
No. of tradeable
instruments
Tier-1 licenses
(regulation)
$1001.02,1793

Read my complete Markets.com review.

Pros:

  • Deposits and withdrawals are quick and without charge
  • Account registration is streamlined and rapid
  • Excellent resources available for education and analysis

Cons:

  • Elevated costs associated with forex trading
  • A restricted range of available trading options
  • Trading platforms are missing several standard functionalities

How to Choose the Best MT4 Broker in the UK?

Choosing the best MT4 broker in the UK depends on various factors that align with your individual trading needs and preferences.

Here are some key considerations to guide your decision:

  1. Regulatory Compliance: Ensure the broker is regulated by a reputable authority like the Financial Conduct Authority (FCA) in the UK. This provides you with a layer of protection and ensures the broker adheres to strict industry standards.
  2. Spreads and Commission Fees: Compare the spreads and commission fees across different brokers. Lower spreads can significantly reduce your trading costs, especially if you trade frequently or in large volumes.
  3. Execution Speed and Reliability: Fast and reliable trade execution is critical, especially for strategies that require quick entry and exit, such as scalping or high-frequency trading.
  4. Liquidity Providers: Check which liquidity providers the broker is connected to. Brokers with multiple top-tier liquidity providers typically offer better pricing and execution.
  5. Trading Instruments: Consider the range of trading instruments offered. If you plan to trade beyond forex, look for brokers that offer a variety of instruments like CFDs on stocks, indices, commodities, and cryptocurrencies.
  6. Customer Support: Good customer service is crucial. Look for brokers that provide prompt and helpful support. Check if they offer support in your preferred method (phone, email, live chat) and during the times you’re likely to trade.
  7. Educational Resources and Tools: If you’re a beginner or looking to enhance your trading skills, consider brokers that offer comprehensive educational resources, webinars, tutorials, and analytical tools.
  8. Demo Account: A demo account allows you to test the platform and your trading strategies without risking real money. It’s a valuable tool for beginners and experienced traders alike.
  9. Account Types and Minimum Deposits: Assess the types of accounts the broker offers and their minimum deposit requirements. Some brokers offer different account types for beginners, intermediate, and advanced traders.
  10. Platform Customisation and Tools: Look for brokers that offer customisable platforms and a wide range of trading tools, including technical indicators, charting tools, and automated trading options like Expert Advisors (EAs).
  11. User Reviews and Reputation: Check online forums, review sites, and trading communities to gauge the reputation of the broker among other traders.
  12. Withdrawal and Deposit Options: Ensure the broker offers convenient deposit and withdrawal options that suit your needs, and check for any associated fees or processing times.

By carefully considering these factors, you can find an MT4 broker in the UK that best suits your trading style, preferences, and goals. Remember, no single broker is the best for everyone, so it’s about finding the right fit for you.

What Is MetaTrader 4 (MT4)?

MetaTrader 4 (MT4) is an electronic trading platform developed by MetaQuotes Software for online retail foreign exchange (forex) and contract for difference (CFD) trading.

Released in 2005, it quickly became the industry standard adopted by brokers worldwide for its advanced features, user-friendly interface, and flexibility for algorithmic trading.

The MT4 platform allows traders to conduct technical analysis across financial markets spanning forex, equities, futures, and commodities.

Its tools include interactive charts with over 50 indicators, one-click trading directly from graphs, and integrated trading scripts known as Expert Advisors (EAs) facilitating automation.

With over 85% market share, the retail trading industry has converged around MetaTrader 4 as the common language bridging brokers, traders, and technical analysts.

Its widespread adoption also creates transparency allowing easy transition of strategies and apps across different brokers.

What Is an MT4 Broker?

An MT4 broker refers to a regulated financial services provider that offers trading access, instruments and pricing through integration with the MetaTrader 4 platform.

These brokers purchase licenses from MetaQuotes to legally host the MT4 software and connect client-side terminals with underlying liquidity providers for order execution.

Besides sourcing liquidity from banks, hedge funds, and other market participants, MT4 brokers are also responsible for onboarding customers with appropriate account types, verifying identities for Know Your Client (KYC) protocols, and managing payments/withdrawals through custody accounts.

Robust customer support and commitment to trader education are also vital.

By harnessing decades of MetaTrader’s technology evolution in areas like charting, development frameworks (MQL4), and multi-device delivery alongside governance from financial regulators, MT4 brokers enable retail traders to access global markets in a trusted ecosystem fine-tuned for usability.

MT4 vs MT5 – What’s the Difference?

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both popular trading platforms developed by MetaQuotes Software, but they cater to different markets and have distinct features.

Here’s a comparison of MT4 and MT5:

  1. Market Focus:
    • MT4: Primarily designed for forex trading. It’s widely used by individual traders and brokers for forex and CFD trading.
    • MT5: Offers a broader range of trading capabilities, including stocks, commodities, and futures, in addition to forex and CFDs. It’s more suitable for traders looking to diversify across different financial markets.
  2. User Interface:
    • Both platforms have a similar interface, but MT5 has a slightly more modern look and feel. However, due to its longer presence in the market, many traders are more familiar with the MT4 interface.
  3. Technical Indicators and Charting Tools:
    • MT4: Offers 30 built-in technical indicators and 24 analytical objects.
    • MT5: Comes with 38 technical indicators and 44 analytical objects. It also includes more charting tools and timeframes (21 timeframes compared to MT4’s 9).
  4. Economic Calendar:
    • MT4: Does not include an integrated economic calendar.
    • MT5: Features an in-built economic calendar with news events, forecasts, and other important economic indicators.
  5. Order Execution Types:
    • MT4: Supports three types of order execution: Instant Execution, Request Execution, and Market Execution.
    • MT5: Offers four types: Instant Execution, Request Execution, Market Execution, and Exchange Execution (reflecting its ability to trade stocks and futures).
  6. Pending Order Types:
    • MT4: Offers four types of pending orders.
    • MT5: Has six types of pending orders, providing more flexibility in trading strategies.
  7. Algorithmic Trading:
    • Both platforms support automated trading through Expert Advisors (EAs). However, MT5 uses MQL5, which is more advanced and faster than MT4’s MQL4. MQL5 does not support backward compatibility with MQL4.
  8. Hedging and Netting:
    • MT4: Supports hedging.
    • MT5: Allows both hedging and netting. Netting is where you can have only one common position for a symbol at a time, which is useful in exchange markets.
  9. Strategy Tester:
    • MT4: Has a single-threaded strategy tester.
    • MT5: Features a multi-threaded strategy tester, allowing faster backtesting and optimisation of strategies. It also supports multi-currency testing and real tick data.
  10. Community and Support:
    • MT4: Has a larger community and more third-party plugins due to its longer presence in the market.
    • MT5: Is gradually building its community and resource base but is still behind MT4 in terms of widespread user support and available custom indicators and scripts.

While MT4 remains the preferred choice for Forex traders due to its simplicity and vast user base, MT5 offers more advanced features, additional trading instruments, and improved functionality, making it suitable for a broader range of trading activities beyond just forex.

Pros & Cons of Trading with MT4

MetaTrader 4 (MT4) is a widely used electronic trading platform for retail foreign exchange (forex) trading.

Here are some of its pros and cons:

Pros:

  1. User-Friendly Interface: MT4 is known for its user-friendly and intuitive interface, making it accessible for both beginners and experienced traders.
  2. Customisation and Flexibility: The platform offers high levels of customisation, allowing users to set up their trading environment according to their preferences, including custom indicators and automated trading strategies.
  3. Automated Trading: MT4 supports automated trading through Expert Advisors (EAs), enabling traders to automate their trading strategies without manual intervention.
  4. Technical Analysis Tools: MT4 comes with a range of technical analysis tools, including a variety of charting options, technical indicators, and graphical objects, aiding traders in analysing market trends and making informed decisions.
  5. Community and Support: MT4 has a large and active community. Users can access a plethora of custom indicators, scripts, and automated strategies developed by other traders, as well as numerous online forums and resources for learning.
  6. Security: The platform provides a secure trading environment with data encryption and secure communication between the client and server.
  7. Broker Availability: A vast majority of forex brokers offer MT4, giving traders a wide range of options to choose from.

Cons:

  1. Outdated Interface: Although user-friendly, the interface of MT4 is somewhat dated compared to more modern trading platforms.
  2. Limited Product Range: MT4 primarily focuses on Forex trading. It offers limited options for trading other asset classes like stocks, commodities, or cryptocurrencies.
  3. Programming Language Limitation: MT4 uses the MQL4 programming language for developing trading scripts and EAs, which is less advanced and offers fewer capabilities compared to MQL5 used in MT5.
  4. No Depth of Market Functionality: Unlike its successor MT5, MT4 does not offer Depth of Market (DoM) information, which can be a drawback for traders who rely on this feature for their trading decisions.
  5. Backtesting Limitations: The strategy tester in MT4 is single-threaded and less advanced, making the backtesting process slower and less efficient compared to MT5.
  6. Execution Speed: While generally fast, the execution speed on MT4 can be slower than on more modern platforms, especially during times of high market volatility.

MT4 is a solid choice for forex traders due to its ease of use, customisation options, and strong community support.

However, its limitations in terms of product range, modern features, and backtesting capabilities might prompt more advanced traders or those interested in a wider range of financial instruments to consider other platforms.

FAQs

Which broker is best for MT4?

Pepperstone is highly regarded for MT4, offering a combination of low latency execution, competitive pricing, and a wide range of customisation options. It caters well to both novice and experienced traders, providing advanced charting tools, a user-friendly interface, and access to deep liquidity pools, making it a top choice for those utilising MT4.

Is MetaTrader 4 allowed in the UK?

Yes, MetaTrader 4 (MT4) is allowed and widely used in the UK. It is offered by various brokers who are regulated by the Financial Conduct Authority (FCA), ensuring compliance with UK financial regulations.

How do I get MetaTrader 4 UK?

To get MetaTrader 4 in the UK, choose a broker that offers MT4 and is regulated by the Financial Conduct Authority (FCA). Register for an account with the selected broker, and once the account is set up, download the MT4 platform from the broker’s website or directly from the MetaQuotes website.

Why do traders prefer MT4?

Traders prefer MT4 for its user-friendly interface, robust charting tools, and extensive support for custom indicators and automated trading through Expert Advisors (EAs). The platform is also favored for its reliability, wide adoption among brokers, and a large community that offers numerous resources for trading strategies and tools.

Is it better to trade on TradingView or MT4?

Whether TradingView or MT4 is better for trading depends on individual needs and preferences. TradingView is renowned for its superior charting capabilities, social networking features, and a wider range of supported markets, while MT4 is preferred for forex trading, customisable indicators, and automated trading through Expert Advisors. Ultimately, the choice hinges on the specific requirements of the trader, such as the need for advanced technical analysis, community interaction, or automated trading functionalities.

Can I use MT4 without a broker?

No, you cannot use MT4 without a broker. MT4 is a trading platform that requires an account with a broker to access and trade in the financial markets. You need to choose a broker that offers MT4, set up an account with them, and then use their version of the MT4 platform for trading.

You may also like:

Sources:

  1. https://www.finder.com/uk/investment-statistics ↩︎
Some of the lowest-cost fixed spreads around, on the markets you most want to trade.
Visit Trade Nation
75% of retail investor accounts lose money when trading CFDs with this provider.

Will Fenton is the founder of Sterling Savvy. He is a personal finance expert and writes about trading, investing, budgeting, and other financial topics.

Along with his education in Economics & Finance, he has experience working in the financial services industry in London working for one of the UK’s leading financial companies, “a trustworthy and respected provider of news, education and market analysis for the everyday investor”.

View Profile

Advertiser Disclosure

We may receive compensation from our partners for placement of their products or services, which helps to maintain our site. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.