Choosing the best MT4 Broker of 2024 can make a difference in your trading. The MT4 platform, renowned for its robust features and user-friendly interface, remains a preferred choice among both novice and seasoned traders. However, with the trading landscape continually evolving, selecting the right broker to complement your trading strategy can significantly impact your success.

Our top picks of the best MT4 broker of 2024 include, Earn Broker, ActivTrades, and FundedNext, each standing out for their unique features and reliability. Earn Broker is celebrated for its exceptional customer support and competitive spreads, making it ideal for traders seeking dependable service. ActivTrades impresses with its advanced trading tools and commitment to security, while FundedNext offers innovative funding options that empower traders to expand their potential. Join us as we delve deeper into what makes these brokers excel and how they can help you seize profitable opportunities in forex trading.

Best MT4 Broker of 2024

What is MetaTrader 4 (MT4)

Developed by MetaQuotes Software, MT4 is renowned for its user-friendly interface and comprehensive suite of trading tools that cater to both beginners and seasoned traders.

MetaTrader 4 (MT4) is a highly popular trading platform used by traders across the globe to engage in forex, commodities, and other financial markets.

At its core, MT4 serves as a bridge between traders and the financial markets, allowing them to execute trades, analyze market trends, and manage their trading accounts. One of its most notable features is automated trading through Expert Advisors (EAs), which lets traders develop and deploy automated trading strategies that run independently, potentially improving trading efficiency and reducing the influence of emotions on trading decisions.

MT4 also boasts powerful charting tools and technical analysis capabilities. Traders can access a wide range of indicators and analytical objects to perform in-depth market analyses. The platform supports multiple chart types and timeframes, enabling traders to customize their view and tailor their strategies to suit specific trading styles.

To use MT4, traders typically start by downloading the platform from their broker’s website. Once installed, they can log in with their trading account details to access real-time market data. From there, traders can analyze charts, apply technical indicators, and execute trades directly from the platform. Additionally, MT4 allows for trade management, enabling users to monitor open positions, set stop-loss and take-profit levels, and track account balances.

How to Create an Account on MT4?

To start using MetaTrader 4 (MT4), you’ll need to create an account with a broker that offers the platform. Visit the broker’s website, sign up for an account, and follow their instructions to download the MT4 software. Once downloaded, install the platform on your device and log in using your account credentials to access the trading environment.

Open a Position Using the Order Window

Opening a position in MT4 is straightforward. Click on ‘New Order’ in the toolbar or right-click on the chart of the asset you want to trade and select ‘New Order.’ This will open the order window, where you can choose the type of order (market or pending), set the volume, and specify any stop-loss or take-profit levels. Once you’ve configured your order, click ‘Buy’ or ‘Sell’ to open your position.

Monitor and Close Your Positions and Pending Orders

You can track your open positions and pending orders in the ‘Terminal’ window at the bottom of the platform. This window provides real-time updates on your trades, including profit and loss. To close a position, right-click on the order in the ‘Terminal’ window and select ‘Close Order.’ For pending orders, you can modify or delete them by right-clicking and choosing the appropriate option.

Modify Stops and Limits on Open Positions

To adjust stop-loss and take-profit levels on an open position, right-click on the trade in the ‘Terminal’ window and select ‘Modify or Delete Order.’ Here, you can enter new stop-loss and take-profit values to better manage your risk and lock in potential profits.

Customize MT4 Charts

MT4 offers robust charting options that you can customize to suit your trading style. Right-click on a chart and select ‘Properties’ to change colors and display options. Use the ‘Insert’ menu to add technical indicators and drawing tools. You can save your customized chart settings as a template for future use by right-clicking on the chart and selecting ‘Template’ > ‘Save Template.’

Set Up a Price Alert

To stay informed of market movements, set up price alerts in MT4. Go to the ‘Terminal’ window, click on the ‘Alerts’ tab, and right-click to create a new alert. Specify the conditions for the alert, such as price level and sound notification, to keep track of market changes even when you’re not actively monitoring the platform.

View Your Trade History

You can review your trade history in the ‘Terminal’ window by clicking on the ‘Account History’ tab. This section provides a detailed record of all past trades, including entry and exit points, profits, and losses. Use this information to analyze your trading performance and refine your strategies.

Download Trade Reports

For a comprehensive overview of your trading activity, download trade reports directly from MT4. In the ‘Account History’ tab of the ‘Terminal’ window, right-click and select ‘Save as Report’ or ‘Save as Detailed Report.’ This generates a file with an in-depth summary of your trades, which you can use for record-keeping or further analysis.

Choosing the Best MT4 Broker of 2024

Let’s dive into the specifics of the MT4 platforms offered by Earn Broker, ActivTrades, and FundedNext, focusing on their unique aspects and capabilities and why they are our top picks for the best MT4 broker of 2024.

Earn Broker MT4 Platform

• Comprehensive Trading Tools: Earn Broker’s MT4 platform is designed to cater to a wide range of trading needs, offering advanced tools and resources. It supports various order types and trading strategies, making it versatile for different trading styles.
• Market Access: The platform provides access to a broad spectrum of financial instruments, including stocks, ETFs, options, and bonds, allowing traders to diversify their portfolios effectively.
• User-Friendly Interface: With both web and mobile app access, Earn Broker ensures that traders can manage their accounts and execute trades conveniently from any device.

ActivTrades MT4 Platform

• Advanced Trading Features: ActivTrades’ MT4 platform is known for its robust trading features, including automated trading capabilities and a wide range of technical indicators. It supports both novice and experienced traders with its intuitive interface.
• Customization Options: The platform allows for extensive chart customization, enabling traders to tailor their trading environment to their specific needs and preferences.
• Security and Reliability: ActivTrades emphasizes security and reliability, providing a stable trading environment with competitive execution speeds.

FundedNext MT4 Platform

• Integration with TradingView: FundedNext enhances the MT4 experience by integrating TradingView’s charting and analysis tools, offering traders advanced insights and analytics.
• Prop Trading Features: The platform is tailored for prop trading, with features like balance-based drawdowns and news trading capabilities, allowing traders to capitalize on market movements effectively.
• Community and Support: FundedNext’s MT4 platform is part of a broader community-focused approach, providing traders with support and resources to enhance their trading journey.

Each of these brokers offers unique strengths through their MT4 platforms, catering to different trading needs and preferences. Whether you’re looking for comprehensive market access, advanced trading features, or a supportive trading community, there’s an option to suit your requirements.

FAQs for the Best MT4 Broker of 2024

What makes Earn Broker the best MT4 broker of 2024?

The broker stands out as the best MT4 broker of 2024 due to its exceptional combination of competitive spreads, advanced trading tools, superior customer service, and user-friendly platform. It excels in providing a seamless trading experience with features tailored to both novice and experienced traders. Additionally, its commitment to innovation and continuous improvement keeps it ahead of the competition.

What features does FundedNext MT4 platform offer?

The MT4 platform offered by this broker includes a wide range of features such as automated trading through Expert Advisors (EAs), a comprehensive suite of technical analysis tools, customizable charts, and real-time market data. It also supports various order types and provides a robust trading environment, enhancing the trading experience.

How does Earn Broker ensure security and reliability?

Security and reliability are top priorities for the broker. It employs advanced encryption technologies to protect client data and transactions. Additionally, the broker is regulated by top-tier financial authorities, ensuring adherence to the highest standards of transparency and integrity. Its MT4 platform is renowned for its stability and fast execution speeds, minimizing downtime and ensuring that trades are executed efficiently.

What are the fees associated with using FundedNext broker?

The broker offers competitive fees with tight spreads and low commissions, making it cost-effective for traders. There are no hidden charges, and the broker provides full transparency regarding its fee structure. For detailed information, traders can access the broker’s comprehensive fee schedule on its website.

How can I open an account with ActivTrades broker?

Opening an account with the broker is straightforward and can be done online. Prospective clients need to complete an application form, verify their identity with required documentation, and fund their account. The broker offers a range of account types to suit different trading needs, and support is available throughout the account setup process.

What customer support options are available for Earn Broker?

The broker provides robust customer support options, including 24/7 live chat, email, and phone support. The support team is highly knowledgeable and responsive, ensuring that traders receive timely assistance with any inquiries or issues. Additionally, the broker offers an extensive library of educational resources, webinars, and tutorials to support traders in their journey.

Disclaimer:

All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partner’s prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.