20 Best MetaTrader 4 Alternatives & Competitors in 2023

The trading platform’s desktop version is still available to download and the Google Play version hasn’t been affected. It happened when I worked at MF Global, word got out that the firm was in trouble, so customers started withdrawing money and stopping trading. So commissions where, down and it became a self-fulfilling prophecy. ForTrader is an iPhone / iPad ready trading app developed by the internationally licensed brokers ForTrade. It is not very user friendly, and definitely not made for beginner traders.

The latter is often chosen by those who want to distribute their strategies without revealing their source code. While it looks and feels similar to MT4, MT5 is a faster, more modern trading platform. Check out our MetaTrader 5 guide to learn about the platform’s advanced features and to get a behind-the-scenes look at mobile, web, and desktop versions of the platform. Using data from our forex broker comparison tool, here’s a comparison of the MetaTrader platforms offered by the best MT4 brokers.

Does MetaTrader support copy trading?

You can download it from the iOS App Store as well as Google Play and use it on your desktop or mobile. If you use our MT4 VPS, it’s possible to log into the VPS using a remote desktop app on your device. This is the same software some of our clients use to access the VPS on a PC. We will discuss the features and tools offered by each broker, as well as the fees charged. We will also provide tips on how to choose the best MT4 white label broker for your needs.

EToro is a full-featured trading platform popular with cryptocurrency traders, but it also offers a range of other investment products such as stocks, forex and ETFs. EToro’s standout feature is its CopyTrader, a form of social investing that allows users to copy trades of high-performing traders. The comprehensive educational resources are complemented by a demo account where newbies can try out trading without risk. One of the standout features of NinjaTrader is its ability to support automated trading strategies. The platform offers a range of automated trading tools, including a built-in strategy builder and access to third-party automated trading systems. As a result, most forex brokers will offer MT4 and MT5 as one of their primary trading platforms, in addition to any others.

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Forex brokers may offer the MetaTrader 4 and MetaTrader 5 platforms for free, but will still charge fees for trading (regardless of the platform you choose). Whether your broker will charge you a commission, spread, or a combination of such trading costs depends entirely on the broker and its account offering. Having used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for more than a decade, I wanted to create a comprehensive guide for traders. In this guide, I will break down the best brokers for MetaTrader 4 and MetaTrader 5, and answer the most common questions about the trading platform. Brokeree’s MT5 Gateway enables brokers to receive quotes and send trade requests directly to AC Markets.

It is a crucial risk management practice that is missing when traders trade on MT4. FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade. The apps do not appear to have been removed from Google’s Play Store.

cTrader

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

If you are interested in learning about algorithmic trading and automated high-frequency trading systems, check out our guide to high-frequency trading. While backtesting is used by traders, it is also used by the signal creators too. Some developers may optimize their strategies over a historical data set (i.e., run it multiple times over the past three months of EUR/USD tick data) on purpose, which can lead to curve-fitted results. MetaTrader 4 is completely free to use, whether you have a demo or live account. That said, you can still incur trading costs charged by your broker (or market-maker) in the form of spreads and commissions when you buy or sell securities such as forex and CFDs.

Why MT4 was removed from the App Store?

Hence people can get in touch with other traders and replicate their investments. Still, it’s available for free download on the website and remains popular with forex traders. However, you should always do your own research to find the MetaQuotes alternative for MT4 and MT5 platforms that suit your personal trading style and goals the best. Capital.com offers access to MT4 and TradingView, giving our customers as many options as possible in a premium online trading environment.

One of the major advantages of cTrader is its enhanced security features. The platform uses SSL encryption to protect users’ data and offers two-factor authentication to ensure that only authorized users can access their accounts. CTrader is another trading platform that will allow users to handle the trading pairs they want without having to be worried about the user interface. Indeed, one of the reasons why people search for MetaTrader 4 alternatives is related to the fact that it is not user-friendly, especially for new investors.

MetaTrader 4 and 5 has been removed from the Apple App Store, here are some of the best alternative trading platforms to use.

He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. When using MetaTrader platforms, such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5), there are automated trading systems known as Expert Advisors (EAs), or Experts for short. Rather, they are the automated trading systems created by traders to execute a trading strategy.

• Yes, you’ll need to open a live trading account with a supporting broker if you want to place real trades within the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms.
• It’s important to note that the web version does not support automated trading.
• Still, it’s available for free download on the website and remains popular with forex traders.
• The MetaTrader 4 platform, or MT4, is a trading platform popular for its trade automation capabilities.
• If you are an advanced trader, you can connect this platform to your broker account or cryptocurrency exchange and you will be able to start trading with TradingView in minutes.
• The platform offers a range of automated trading tools, including a built-in strategy builder and access to third-party automated trading systems.