How to choose the best MT4 broker in the UK

Best MT4 broker: all you need to know

Finding the best MT4 broker has been made simpler with a breakdown of what might make each trading broker better than the rest. We’ve compared and reviewed each platform to find out its suitability for beginner and experienced traders.

Remember that you’ll need to open a trading account with an online broker – like us to be able to use the MT4 platform.

Explore our list of the best MT4 brokers ranked based on the number of technical indicators, costs involved, interface, execution speed and the financial markets available.

What is MT4?

MetaTrader 4 is a digital trading platform developed by MetaQuotes Software Corp in 2005. Traders and brokers prefer using the MT4 platform for analysing financial markets because of the number of technical indicators available, customisable charts and automated trading.

Note that the MT4 platform is compatible with different desktop computers, web, and mobile devices.

This makes it one of the most famous third-party platform for executing trades on a range of markets that include forex, commodities and indices, via spread bets or 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 lots of different brokers you can choose from, and we are one of them. Opening a brokerage account with us gives you access to 17,000+ financial markets.

We assist you in organising and executing transactions on your behalf via our trading account. When you trade with us, you’ll predict the price movement of financial instruments by going long if you think that it’ll rise or go short if you think that it’ll fall using spread bets and CFDs.

Note that these derivative products are leveraged, which means that you can get exposure using a fraction of the full value size 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 brokerage account with us, you’ll fill in an application form, get verified and fund your account. With us, you can also add or withdraw funds from your account – for free.

How to choose the best broker for MT4

We’ve listed five factors to consider when choosing the best broker for MT4:

1. Compare broker costs

Almost every broker levies a fee for traders to use their platform. Note that there might also be a fee charged for inactivity as well, after the allotted time has lapsed.

These costs, among other charges may be incorporated in the total fees that you’re liable for. However, some trading platforms charge that to the cost of the business and offer low trading costs or even non-trading fees. When comparing which broker is the best for MT4, it’s important to consider the fees and charges involved.

2. Find out what support the broker provides

It’s always important to have competent support at your beck and call to assist you with a query. This gives you confidence to browse through our platform unencumbered. With us, you’ll get global access to MT4 platform specialists 24 hours a day.

Our customer service is equipped to assist both beginners and seasoned traders navigate our platform. You can reach out via our 24-hour live support, phone call, email or X (formerly Twitter) from 8am on Saturdays to 10pm on Fridays (UK time).

3. Consider server uptime

Sever uptime is crucial for both the platform and a trader’s objectives. During active market hours, it’s imperative that there are limited interruptions on the platform because it’s the most volatile period.

We deliver 99.6% server uptime¹ on our award-winning platform² designed for speed, stability and resilience. This gives your algorithms the best conditions to operate in.

4. See if they offer an MT4 VPS

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.

With us, you can access our MT4 VPS for free,³ however, 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.uk@ig.com, via the email address registered to your IG account. Our only requirement is that your account balance must have a minimum of £5000 or more. Otherwise, you’ll incur a monthly charge of £50.

5. Compare MT4 brokers’ indicators and adds-on

Traders like using MT4 because they’re able to customise the platform to their preferred specifications using a range of indicators and add-ons available. Our indicators are free, easy to install and optimised for different screen sizes.

Enhance your trading experience by adjusting the charts to feature the information you require, all grouped into one window for easy access.

How to start trading using MT4

To start trading using MT4, you must create a live 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, with each platform providing automated trading, with access to real-time chart analysis using over 100 indicators and fast trade execution speed.⁴

Start trading on MT4

1. Create an account with us
2. Log in to My IG, your account hub
3. Select ‘Add an account’
4. Decide whether you want to trade CFDs, or place spread bets
5. Follow the on-screen prompts

1. Create an account with us

Fill in a form with your personal information. The data will be verified, and you’ll be able to fund your account.

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 be able to select the MT4 option and customise your charts with the indicators you want to use when trading.

4. Decide whether you want to trade CFDs or place spread bets

With us, you can trade using CFDs or spread bets. These derivatives are leveraged, which means that you can get exposure with just a fraction of the full position size as your deposit.

Note that, with leverage, both your profit and loss are calculated based of the full position size, and not the deposit. That means you stand to win and lose more than what you put up. Retail traders get non-negative protection in the UK, meaning we have to write off any debts they have to IG. It remains important to take steps to manage your risk effectively.

5. Follow the on-screen prompts

A series of prompts will appear on your screen, and you’ll need to follow them for a great experience.

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