6 brokers compared · 2026

Best MetaTrader 4 brokers

MetaTrader 4 remains the most widely used retail forex platform thanks to its huge library of expert advisors and indicators. These brokers offer the best MT4 experience: low costs, fast execution and full EA support.

By the FXBroker research desk · Updated October 2026 · Advertiser disclosure

01IC MarketsIdeal for EAs and scalping, with raw spreads.
02PepperstoneSmart Trader Tools add-ons and raw pricing.
03XMMT4 on every account from $5.
04FOREX.comBest MT4 broker for US traders.
05FP MarketsLow commission and Autochartist.
06OANDAUS-regulated MT4 with no minimum.

#	Broker	Score	EUR/USD	Raw / lot	Min. dep.	Regulators	Platforms	Links
01	IC MarketsScalpers and algo traders who want raw spreads	4.4	0.8pips	$8all-in	$200	ASICCySECFSA (Seychelles)+1	MT4MT5cTraderTradingView	Visit Review
02	PepperstoneActive traders who want tier-1 regulation and raw pricing	4.6	1.1pips	$8all-in	$0	ASICFCACySEC+4	MT4MT5cTraderTradingView	Visit Review
03	XMBeginners funding a small first account	4.1	1.6pips	$8all-in	$5	CySECASICDFSA+2	MT4MT5	Visit Review
04	FOREX.comUS traders who want MT4/MT5 and strong research	4.5	1.4pips	$7all-in	$100	CFTCNFAFCA+4	MT4MT5TradingView	Visit Review
05	FP MarketsLow-cost cTrader and TradingView trading	4.4	1.0pips	$7all-in	$100	ASICCySECFSCA+3	MT4MT5cTraderTradingView	Visit Review
06	OANDAUS beginners and API traders	4.3	1.4pips	$6all-in	$0	CFTCNFAFCA+4	MT4TradingView	Visit Review

Spreads are typical values during liquid hours and change constantly. Raw / lot = raw EUR/USD spread converted at $10 per pip plus round-turn commission. Data checked October 2026. How we score.

IC Markets

Ideal for EAs and scalping, with raw spreads.

4.4/5

IC Markets is one of the largest true-ECN style brokers by forex volume. Its Raw Spread account pairs near-zero EUR/USD spreads with a flat commission, and it supports MT4, MT5, cTrader and TradingView, which makes it a default choice for scalpers, EA users and high-volume day traders.

Pros

Raw spreads averaging around 0.1 pips on EUR/USD
MT4, MT5, cTrader and TradingView all supported
Fast execution suited to scalping and expert advisors

Cons

$200 minimum deposit is higher than XM or Exness
Limited in-house research and education

EUR/USD: 0.8 pips
Raw / lot: $8.0
Min. deposit: $200
Regulators: ASICCySECFSA (Seychelles)SCB (Bahamas)
Platforms: MT4, MT5, cTrader, TradingView

Pepperstone

Smart Trader Tools add-ons and raw pricing.

4.6/5

Pepperstone matches IC Markets on cost while offering stronger tier-1 regulation, including the FCA and BaFin. Its Razor account delivers raw spreads with a low commission across MT4, MT5, cTrader and TradingView, and there is no minimum deposit.

Pros

Razor account with raw spreads and $7 round-turn commission
FCA, ASIC, CySEC and BaFin regulation
MT4, MT5, cTrader and TradingView

Cons

Product range is narrower than IG or Saxo
Not available to US residents

EUR/USD: 1.1 pips
Raw / lot: $8.0
Min. deposit: $0
Regulators: ASICFCACySECBaFin+3
Platforms: MT4, MT5, cTrader, TradingView

XM

MT4 on every account from $5.

4.1/5

XM is one of the most popular forex brokers worldwide, especially in Asia, Africa and Latin America. A $5 minimum deposit, micro lots, frequent webinars and a well-built mobile app make it beginner-friendly, while the XM Zero account offers raw pricing for more active traders.

Pros

Very low $5 minimum deposit and micro accounts
Excellent free education, webinars and daily analysis
MT4 and MT5 on every account type

Cons

Standard account spreads are wider than raw-spread rivals
No cTrader or native TradingView trading

EUR/USD: 1.6 pips
Raw / lot: $8.0
Min. deposit: $5
Regulators: CySECASICDFSAFSCA+1
Platforms: MT4, MT5, XM App

FOREX.com

Best MT4 broker for US traders.

4.5/5

FOREX.com is owned by NASDAQ-listed StoneX and is one of the largest forex brokers in the United States. It offers 80+ currency pairs on its own platform, MT4, MT5, TradingView and NinjaTrader, with both spread-only and commission-based RAW pricing.

Pros

Owned by StoneX, a NASDAQ-listed financial services group
Wide platform choice including MT5 and TradingView
RAW pricing account for active traders

Cons

Standard account spreads are average
Forex only for US clients

EUR/USD: 1.4 pips
Raw / lot: $7.0
Min. deposit: $100
Regulators: CFTCNFAFCACIRO+3
Platforms: FOREX.com Web, FOREX.com App, MT4, MT5

FP Markets

Low commission and Autochartist.

4.4/5

FP Markets is an Australian ECN broker founded in 2005. Its Raw account charges $6 round turn with spreads from 0.0 pips, and it supports MT4, MT5, cTrader, TradingView and Iress for share trading.

Pros

Low $6 round-turn commission on Raw
Five platforms including cTrader and TradingView
ASIC, CySEC and FSCA regulation

Cons

Education is basic
Not available in the US or UK

EUR/USD: 1.0 pips
Raw / lot: $7.0
Min. deposit: $100
Regulators: ASICCySECFSCAFSA (Seychelles)+2
Platforms: MT4, MT5, cTrader, TradingView

OANDA

US-regulated MT4 with no minimum.

4.3/5

OANDA was one of the first online forex brokers and is still one of the most trusted in the US. There is no minimum deposit, trade sizes start at a single unit, and its REST API, TradingView integration and MT4 support appeal to both beginners and systematic traders.

Pros

No minimum deposit and flexible position sizing
Long track record and multiple tier-1 licences
Popular REST API for automated trading

Cons

Standard spreads are average for US brokers
Smaller pair selection than FOREX.com or tastyfx

EUR/USD: 1.4 pips
Raw / lot: $6.0
Min. deposit: $0
Regulators: CFTCNFAFCAASIC+3
Platforms: OANDA Web, OANDA App, MT4, TradingView

How we chose these brokers

MT4 support: Full MT4 on desktop, web and mobile with EA trading allowed.
Execution: Market execution suited to scalping and automated trading.
Cost: Raw spread plus commission on MT4 accounts.
Extras: VPS hosting, add-on tools and signals.

Scores use our standard methodology. Rankings on this page also weight the specific criteria above.

Frequently asked questions

Is MT4 still supported?

Yes. Although MetaQuotes no longer sells new MT4 licences, existing brokers continue to support it.

Should I use MT4 or MT5?

MT5 is faster, has more timeframes and supports more asset classes. MT4 has the larger library of legacy EAs.

Can I use MT4 in the US?

Yes, with US-regulated brokers such as FOREX.com, OANDA and tastyfx.

Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.