Best MetaTrader Brokers

Richard Montana | October 21, 2022

The MetaTrader platforms were developed by MetaQuotes who specialise in the development of trading software for multi-asset trading including forex, stock, commodity and crypto trading. The platforms have been around for many years and remain one of top choices amongst traders and brokers all around the globe.

The MetaTrader platforms are ideal for CFD trading when you speculate on the price of a financial instrument rising or falling without actually needing to own the underlying asset. This has made online trading become more accessible to retail traders, with the MetaTrader platform being the go-to option for beginners and experienced traders alike.

It is the perfect solution for convenient market access where you can analyse chart, place and manage traders. It can be accessed from your desktop, web and mobile devices which is great for keeping track of your trading account as and when you need to. You can trade manually on the platform, run automated strategies or copy the trades of others.

With MetaTrader being the platform of choice for the majority of CFD brokers, there are so many to choose from. That is why we have compiled this handy MetaTrader broker guide to help narrow down the options. We have many years of combined experience using both the MetaTrader 4 and MetaTrader 5 platforms. Having the best MetaTrader brokers according to our findings listed in one place, can help you save time when looking for the best MetaTrader broker for your own individual needs.

Top 10 MetaTrader Brokers

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.
AvaTrade Review

ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA

$100

2006

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
2.
IC Markets Review

ASIC, CySEC, FSA, SCB

$200

2007

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
3.
Pepperstone Review

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$200

2010

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
4.
FP Markets Review

ASIC, CySEC, SVGFSA

$100

2005

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
5.
XM Group Review

ASIC, CySEC, DFSA, IFSC

$5

2009

1:888

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
6.
Oanda Review

CFTC, NFA

$0

1996

1:200

Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone.
7.
Admirals Review

ASIC, CySEC, EFSA, FCA

$1

2001

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
8.
HYCM Review

CIMA, CySEC, DFSA, FCA

$100

1998

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
9.
RoboForex Review

IFSC

$10

2009

1:1000

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
10.
FXFlat Review

BaFin

$200

1997

1:30

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

AvaTrade

AvaTrade is an award-winning online CFD broker with offices around the globe and regulation across multiple continents. The company provides multiple trading platforms including on-the-go online trading with step-by-step guidance on opening forex trades, CFDs on commodities, cryptos and stocks. They have a great range of trading products and services for users of all experience levels. This is all backed by a responsive customer support team.

AvaTrade are one of the best trading brokers that provide the MetaTrader 4 and MetaTrader 5 platforms for your desktop, web and mobile devices. You can trade a great selection of CFD instruments with zero commission fees. They have tight spreads on currency pairs for trading forex and welcome all types of trading strategies. You can use the MetaTrader platforms with AvaTrade for manual trading and automated trading in a very well-regulated environment. They also provide some of the best social trading platforms for those of you who want to copy the trades of others.

Pros
  • Both MetaTrader 4 and MetaTrader 5 platforms for all of your devices
  • Multi-asset trading (CFDs on Forex, Stocks, Indices, Commodities, Crypto and ETFs)
  • Very competitive trading conditions
  • Zero commission fees, tight spreads and quick execution speeds
  • Manual, automated and social trading
  • Free demo trading accounts
  • Excellent customer support
Cons
  • Inactivity fees may apply
  • Cannot accept traders in the USA
  • No variable spread accounts
  • Minimum deposit of $100
  • CFD trading only

IC Markets

IC Markets combine industry leading CFD trading conditions with the MetaTrader platforms to bring you a professional trading environment. You can experience their fast execution speeds and flexible trading conditions for trading on MetaTrader with spreads from just zero pips and low commission fees. I also like how they have 24/7 support and have always been quick to process my withdrawals.

IC Markets is able to offer market best possible pricing and some of the best trading conditions through the MetaTrader platform by providing clients with Raw Pricing. Raw Pricing allows you to trade on institutional grade level, using pricing almost equal to the world’s leading execution venues.

Executable Streaming Prices (ESP) are sent from IC Markets’ pricing provider to them, so that clients can trade with no dealing desk, price manipulation or requotes. Due to the diverse mix comprising of up to 25 different pricing providers at any one time, IC Markets is the forex broker of choice for many high volume traders, scalpers and robots who demand the tight spreads and best execution.

The IC Markets MetaTrader 4 and 5 platforms have no restrictions on trading. They have some of the best trading conditions for scalping and high frequency trading globally, allowing traders to place orders between the spread as there is no minimum order distance and a freeze level of 0. This means orders including stop loss orders can be placed as close to the market price as you like.

Traders can also hedge positions as there is no first in first out (FIFO) rule with IC Markets. Traders do not pay margin on hedged trades and can enjoy the possible benefits of margin netting.

IC Markets boasts some of the tightest spreads of all forex CFD providers globally. Spreads start from 0.0 pips on the MetaTrader 4 platform with the average on EURUSD being 0.1 pips 24/5. This is currently the tightest average EURUSD spread globally.

Pros
  • Trade with no dealing desk intervention
  • Market leading spreads and low commissions
  • Save money every time you trade with low costs
  • Enjoy the fastest ultra-low latency execution possible
  • Chose a leverage to suit your strategy and trading style
  • Have greater control over your risk with micro lots
  • Move money in and out of your trading account with ease
  • Use the same account on MetaTrader and MetaTrader WebTrader
  • Quick and easy deposits and withdrawals
  • Free demo trading accounts
  • Responsive 24/7 support
Cons
  • Do not have a proprietary trading platform
  • Available features can vary depending on your location
  • Minimum $200 deposit is not the lowest
  • Do not accept USA traders

Pepperstone

Pepperstone have three powerful trading platforms to suit your trading style, wherever you’re at in your trading journey. Each platform is free and available on mobile, tablet, desktop and our web app. This includes both the MT4/MT5 platforms and the brilliant cTrader platforms. If you are new to the platforms, they have a good range of MetaTrader guides and videos to help bring you up to speed.

One of the main advantages of choosing the Pepperstone MetaTrader platforms is that they come with the excellent Smart Trader Tools package which includes expert-like tools designed to help you unlock your full trading potential. They’re easy to use, install and access and are exclusive to the world’s most popular, powerful trading platforms, MetaTrader 4 and MetaTrader 5.

The Smart Trader Tools package is a suite of expert advisor tools to help improve your trade execution and management. You can optimise your perfect trading strategy, manage your risk and enhance your overall trading experience with 28 smart trading apps, including expert advisors and indicators.

The full set of tools includes sophisticated alarms and broadcast facilities, with up-to-date market data and functions integrated within the MetaTrader interface, to make your trading experience easier and more enjoyable.

Pros
  • Smart Trader Tools add-on further enhance the MetaTrader platforms
  • Collection of free MetaTrader guides and videos
  • Great selection of currency pairs for trading forex
  • Tight spreads and low commission fees
  • Quick trade execution speeds
  • Variety of convenient account funding options
  • Free demo trading accounts
  • Good customer support
Cons
  • Cannot accept traders in the USA
  • Minimum deposit of $200 is not the lowest
  • Limited non-FX instruments compared to some brokers

FP Markets

FP Markets are worth strong consideration if you are looking for a MetaTrader broker with very good trading conditions and a huge range of financial products. FP Markets consistently offer some of the tightest spreads in the industry.

You can trade forex from 0.0 pips on the major currency pairs. Through both MetaTrader platforms you can gain access to institutional-grade liquidity with no price manipulation, no dealing desk and no requotes. They don’t apply any restrictions on your trading strategies so you can run automated systems and scalp the markets.

FP Markets are able to stream price feeds directly from their liquidity providers. As a result, forex traders have real-time access to market prices and high levels of liquidity from top-tier financial institutions. This is one of the reasons why FP Markets are able to consistently offer extremely competitive spreads and excellent trade execution speeds.

FP Markets operates as an ECN broker whose pricing allows trading orders to be matched and executed with what they believe to be better prices. This technology allows executable price streaming, creation of a virtual order book and an aggregation across multiple liquidity providers. It can work out extremely well for forex traders using trading strategies like scalping via expert advisors (EAs) as this further accelerates the speed of execution.

One of the advantages of FP Markets over some of the other top MetaTrader brokers is the Traders Toolbox that they offer clients. The FP Markets MT4 Traders Toolbox is a suite of 12 online trading tools that can help to take your trading experience to another level.

Traders can access the economic calendar and breaking news that may impact market prices from within the platform. Risk management is made more convenient thanks to the Trader Tools Alarm Manager. You can set automated actions such as opening and closing positions in order to take profits and minimise losses.

Gain access to real-time price activity and trend direction with the Correlations Trader or use the Correlation Matrix which provides a great overview of all the different currency pairs and how they are correlated. Tick charts, session maps and trade assistance tools such as the Trade Terminal assist in identifying market volatility and leveraging it through day trading.

The Excel RTD is the ultimate reporting tool as it inserts real-time data into Excel which can then be used to send trading commands to the trading platform.

Pros
  • Trade on 60+ currency pairs such as majors like the EURUSD and GBPUSD
  • Access +10,000 financial instruments
  • Take advantage of rising and falling markets
  • Many more trading tools included in the Traders Toolbox
  • Technical indicators, charts and alerts
  • Low spreads from just 0.0 pips
  • Competitive commission rates on RAW accounts
  • Free demo trading accounts are available
  • 24/7 multilingual customer support
Cons
  • Cannot accept traders in the USA
  • High minimum deposit of $1,000 for CFD accounts
  • Fees for international bank withdrawals

XM Group

XM Group pioneered the offering of an MT4 platform with trading execution quality in mind. You can trade on MT4 with no requotes, no rejections and with flexible leverage. The XM MT5 offers all the pioneering features that the XM MT4 has to offer, with the addition of 1000 CFDS on stocks (shares), which makes it the ideal multi-asset platform. You can trade forex and CFDs on stocks, gold, oil and equity indices from 1 platform with no rejections, no re-quotes and flexible leverage.

One of the standout features of the XM MetaTrader platforms is that you can gain access to a decent selection of proprietary indicators by contacting your account manager directly. These tools are fully automated and can help you to conduct your technical analysis across all off your favourite financial instruments. This can be a great way to spot potential trading signals and can save you from hours of scanning the charts manually.

Pros
  • Over 1000 Instruments, including stock CFDs, stock indices CFDs, forex, CFDs on precious metals and CFDs on energies
  • Access to some proprietary indicators
  • 1 Single Login to multiple platforms
  • Spreads as low as 0 pips
  • Full automated trading functionality
  • One click trading directly from the charts
  • All order types supported
  • Over 80 technical analysis tools
  • Market depth of latest price quotes
  • Hedging and scalping allowed
  • Micro lot accounts (optional)
  • VPS functionality
  • Low min $5 deposit and free demo accounts
  • Multilingual customer support team
Cons
  • Cannot accept traders in the USA
  • Only provide the MetaTrader platforms
  • No fixed spread accounts
  • Do not provide 24/7 support

OANDA

OANDA is a multi-regulated and established online broker offering an excellent range of financial instruments to clients worldwide via powerful and user-friendly trading platforms with industry leading trading conditions and a superb selection of premium trading tools for market analysis. In addition to MetaTrader 4 and MetaTrader 5, OANDA have versatile proprietary platforms for web, desktop and mobile. They even support the excellent TradingView which brings endless charting possibilities and a social aspect to your online trading activity.

Pros
  • Powerful, versatile and easy to use trading platforms
  • Wide range of financial instruments across various asset classes
  • Tight spreads, low fees and fast trade execution speeds
  • Various account types for different trading strategies
  • Good range of convenient deposit and withdrawal methods
  • Fantastic selection of advanced trading tools for professional market analysis
  • Generous selection of free trading guides to help educate beginners
  • Free demo trading accounts
  • Islamic accounts that are swap-free
  • API for approved institutional clients
  • Excellent 24/5 support
Cons
  • Services vary depending on your country
  • Cannot accept clients from a range of countries
  • No managed accounts
  • Inactivity fees

Admirals

Admirals is an award-winning and multi-regulated broker that offers a large selection of trading instruments with very competitive trading conditions on the advanced yet user-friendly MetaTrader platforms for desktop, web and mobile devices. Admirals take things a step further than many other MetaTrader brokers by providing you with the Supreme edition. The supreme editions of MT4 and MT5 offer some additional advanced trading tools to help you further improve your experience on the MetaTrader platform. Many of you might not need these extra tools but if you want to build some complex trading strategies that can give you an edge, I think they are worth exploring.

Pros
  • Fantastic choice of over 4,000+ financial instruments
  • User-friendly yet powerful trading platforms for all of your devices
  • Tight spreads and rapid trade execution speeds
  • Commission free trading accounts
  • Advanced trading tools to assist with market analysis
  • MetaTrader Supreme Edition loaded with more tools
  • Premium Analytics to help find trading signals
  • Swap-free Islamic accounts for Muslim traders
  • Free demo trading accounts
  • Low minimum $1 deposit to open an account
  • Good range of deposit and withdrawal options
  • Excellent customer support
Cons
  • Cannot accept traders in the USA
  • Inactivity fees may apply
  • Do not have 24/7 support

HYCM

HYCM is an award winning, multi-regulated broker with over 40 years of experience providing a range of assets to traders across the globe with high speed trade execution, tight spreads and competitive trading costs. You can choose from the MT4 and MT5 platforms. HYCM also gives you free access to Trading Central’s award-winning analysis tools to use on your platforms and assist you with making informed trading decisions

Pros
  • Easy to use trading platforms and apps
  • Fixed or variable spread accounts
  • Commission free accounts
  • Multiple deposit and withdrawal methods
  • High speed trade execution
  • Competitive trading costs
  • Excellent Trading Central for market analysis
  • Free demo trading accounts
  • Good customer support
Cons
  • Cannot accept traders in the USA
  • Limited trading instruments compared to some other top brokers
  • $100 minimum deposit is not the lowest

RoboForex

RoboForex is an award-winning forex broker offering 9,400+ trading instruments across multiple asset classes. They provide a range of flexible trading platforms and accounts along with trading tools and market analysis to assist you with your day trading activities.

RoboForex offer both of the MetaTrader platforms in MT4 and MT5, the sophisticated cTrader platform for professional traders who need direct access to the markets and their very own in-house platforms: R Trader for desktop, R WebTrader and R MobileTrader. If that wasn’t enough, there are a further 2 innovative platforms for providing and copying signals. These are the CopyFX and RAMM platforms respectively.

Pros
  • Great choice of 12,000+ trading instruments across various financial markets
  • Professional and user-friendly trading platforms
  • Tight spreads and low trading fees
  • Flexible account types and funding options
  • Good educational resources
  • In-depth market research
  • Free powerful trading tools
  • Very good analytics center for inspiration
  • Low minimum deposit of $10
  • Free demo practice account
  • Swap-free Islamic accounts
  • Excellent 24/7 around the clock support
Cons
  • Cannot accept clients from certain countries
  • No fixed spread accounts
  • No managed accounts
  • Only regulated in Belize

FXFlat

FXFlat is a Forex and CFD trading broker that offers multiple assets for trading on sophisticated platforms. Regulated by the German BaFin, the broker offers trader education, signals and various trading tools to support its clients. They have professional platforms for those of you who trade full time. There are also more simplistic platforms such as MetaTrader if you are just a casual trader who is looking for convenient access to trade online.

Pros
  • Trading on sophisticated platforms; the MT4, MT5 and AgenaTrader
  • Excellent trading tools such as StereoTrader and Morning Call
  • The MetaTrader plus app adds various features and tools to the MetaTrader platforms
  • Very competitive trading fees
  • Great choice of payment methods
  • Good range of educational content to help beginners
  • Trading signals available from third-parties
  • Free demo trading accounts
  • Award winning customer support team that speaks English and German
  • Socially responsible broker
Cons
  • Cannot accept clients from some countries
  • Only German and English are supported
  • Majority of articles, webinars and training videos are in the German language
  • Minimum deposit is not the lowest
  • No managed accounts

Conclusion

Here you will find our best MetaTrader brokers, based on thousands of hours of extensive research, testing and analysis across hundreds of brokers. Upon conclusion of each of our broker reviews, we have assigned each broker with a rating.

Some of the most important factors that contribute towards a good broker for trading online have been considered including things such as the available financial instruments, platforms, apps, tools, spreads, execution, liquidity, fees, education, funding options, regulation, customer service and more.

Each of our chosen MetaTrader brokers have undergone and passed our stringent broker reviews with flying colours, based on what we consider to be amongst the most important considerations when choosing a MetaTrader broker for trading online. These brokers are well-established within the online trading industry, providing top trading conditions to traders and investors of all experience levels.

About the Author

Avatar photo

Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.


Relevant Articles