MetaTrader, the famous forex trading platform, is not used by all forex brokers. Metatrader is in my opinion one of the best charting and trading programs, not to mention the fact that its free!MetaTrader 4 or MT4 as its often known, is a free-of-charge platform specifically designed for internet trading in the Forex market. The built-in technical indicators let you analyze currency quotes, whilst the MQL4 electronic network enables the development and use of automated trading plans. In order to trade the forex market, traders need a platform that allows them to study quotes, make trades and develop plans.
Here is a list of forex brokers that support MT4.
| Forex Brokers | Min. Account Size | Rating |
| FXOpen | $1 | 9.5 |
| MB Trading | $400 | 9 |
| Alpari | $200 | 8.7 |
| FastBrokers | $500 | 8.5 |
| InvestTechFX | $100 | 8.4 |
| FXCM | $2,000 | 8.3 |
| Tadawul FX | $1,000 | 8.2 |
| IKON GM – Royal Division | $2,500 | 8.2 |
| Forex4you | $1 | 8 |
| FXcast | $10 | 8 |
| X-Trade Brokers | $2,000 | 7.3 |
| Real Trade | $20 | 7.3 |
| Hotspot FX | $7,500 | 6.9 |
| MIG Investments | $5,000 | 6.6 |
| MasterForex | $1 | 6.5 |
| LiteForex | $1 | 6.2 |
| Forex.com | $250 | 5.8 |
| Forex.CH | $2,000 | 4.8 |
| InstaForex | $1 | 4.1 |
| Interbank FX | $250 | 3.8 |
MetaTrader 4 constitutes a complete online trading bundle designed to allow brokerage firm services to the Forex markets. The system has all that is needed for brokerage companies
and is currenctly considered the best online Forex trading platform. So far, there are over 200 brokerage companies and banks worldwide that are utilising the MetaTrader 4 platform.
MetaTrader 4 gives you the possibility of creating and using automated trading programs, known as the Expert advisers (EA), to do the trading for you.
The Expert Advisor is a little computer program that you can install into MetaTrader program. It is scripted in a specialised programming language called MetaQuotes Programming Language Version 4 (abbreviated to MQL4). It can be turned on and off to automate your sells. It can analyse the charts just like the other indicators and react to certain conditions, including open, close or edit stops and limit orders for you.
