How to choose the best MT4 broker for you in the UAE

Finding the best MT4 broker for you: all you need to know

You’ll need to open a trading account with an online broker, like us, to be able to use the MT4 platform. To find the best MT4 broker for you, you can consider factors that set each trading provider apart from the rest.

We’ve reviewed different brokers’ offerings to see how they compare. Explore our list of the best MT4 brokers, selected based on factors such as the number of technical indicators, costs involved and customer support.

What is MT4?

MetaTrader 4 is a digital trading platform that was developed by MetaQuotes Software Corp in 2005. Traders often choose to use the MT4 platform for financial market analysis because of certain offerings and features, like the number of technical indicators, customisable charts and automated trading.

Note that the MT4 platform is compatible with different desktop computers and mobile devices. You can also use the MT4 web terminal – it’s accessible through all major browsers.

MT4 is one of the most famous third-party platforms for executing trades on a range of markets that include forex, commodities and indices via contracts for difference (CFDs).

What is a brokerage account?

A brokerage account is a trading or investment account that enables you to buy and sell financial assets online. There are many brokers you can choose from, and we’re one of them. Opening a brokerage account with us gives you access to 17,000+ financial markets.

When you trade with us, you’ll speculate on the price movement of a financial instrument using CFDs by going long if you think that it’ll rise or going short if you think that it’ll fall.

Note that CFDs are leveraged, which means that you can get exposure using a fraction of the full trade value as your deposit. With leverage, your total profits or losses are calculated based on the full position size, not just the amount you paid to open that position. That’s why it’s important to take steps to manage your risk effectively.

To open a live CFD trading account with us, you’ll fill in an application form and we’ll verify your identity. When you’re ready to start taking positions, you need to ensure that you have sufficient funds in your account.

How to choose the best MT4 broker for you

Below are some factors to consider when choosing the best MT4 broker for you.

1. MT4 brokers’ indicators and adds-on

Traders often like using MT4 because they’re able to customise the platform to their preferred specifications, choosing from a range of available indicators and add-ons.

Our indicators are free, easy to install and optimised for different screen sizes. On MT4, you can adjust charts and layout to feature the information you require, all grouped into one window for easy access.

2. Broker costs

When making comparisons to find the MT4 broker that’s most suitable for you, it’s important to consider the fees and charges involved.

Brokers usually levy a fee for the use of their platform. There might also be a fee charged for inactivity, after the allotted time has lapsed. These costs, among other charges, may be included in the total fees that you’re liable for.

3. Server uptime

Sever uptime is crucial in enabling you to work towards your trading goals. During active market hours, it’s imperative that there are no or limited interruptions on the platform because it’s the most volatile period.

We deliver 99.74% MT4 platform uptime¹ for speed, stability and resilience. This gives your algorithms the best conditions to operate in.

4. VPS hosting

VPS stands for a virtual private server, a service which enables you to host a version of the MT4 platform remotely, from any location. Having MT4 VPS capabilities enhances your overall trading experience, providing stable uptime and low latency trading.

We enable low latency trading and reliable uptime¹ with an MT4 VPS for free.² You need to apply and meet the necessary requirements first. To apply for access, you only need to send an email stating your interest to helpdesk.ae@ig.com, via the email address registered to your IG account. Our only requirement is that your account balance must have a minimum of $2,000 or more. Otherwise, you’ll incur a monthly charge of $50.

How to start trading using MT4

To start trading using MT4, you can create a live trading account with us. Once you’re done, you can set up an MT4 account and customise it to your preferred layout and interface. Many of our clients trade either on MT4 or ProRealTime. Both platforms provide automated trading, with access to real-time chart analysis using over 100 indicators.

Start trading on MT4

1. Create a live CFD trading account with us
2. Log in to My IG, your account hub
3. Select ‘Add an account’
4. Follow the on-screen prompts

1. Create a live trading account with us

Before you create a live CFD trading account, it’s important to read the relevant information documents – including our Risk Disclosure Notice and Margin Trading Customer Agreement. If you believe that CFD trading is suitable for you, you can apply for an account by filling in a form. We’ll verify your identity, and you’ll be able to fund your account when you’re ready.

2. Log in to My IG, your account hub

Input your log in credentials on your My IG dashboard and navigate to our dedicated page to download MT4 onto your preferred device.

3. Select ‘Add an account’

Navigate to the ‘Add an account’ tab to select the MT4 CFD trading account option.

Remember, CFDs are leveraged financial derivatives, which means that you can get exposure with just a fraction of the full position size as your deposit. With leverage, your potential profit and loss are calculated based of the full position size, and not the deposit. That means you stand to win or lose more than your initial outlay.

4. Follow the on-screen prompts

You’ll need to follow the prompts that appear on your screen. To start taking positions, you can launch MT4 web trading and log in with your IG credentials.

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