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This content is for informational purposes only and is not intended to provide financial advice.
Trader’s success consists of 50% skills and experience and 50% technical equipment, including gadgets, a user-friendly trading platform, and the right choice of broker. According to Traders Union survey, MetaTrader 4 (MT4) is the most popular trading platform in 2022. Most brokers, known to the market support this platform. But not every broker can offer profitable trading conditions suitable to each trader. To help MT4 admirers with their choice, experts created a list of the Best MT4 brokers. Here are the Top 5 brokers on the list:
- RoboForex – best solution for beginners;
- IC Markets – broker with the best trading conditions;
- Exness – for experienced traders;
- XM Group – lowest trading costs;
- AMarkets – most user-friendly broker.
Why do most MT4 traders choose the IC Markets?
The detailed IC Markets Review can be found on the official site of the Traders Union at the link above. To emphasize its pros and honestly mention cons, here is a short version of the overview. Let’s start with the reasons why the broker should be trusted:
- strong reputation in the market – the broker has been known since 2009;
- availability in 190 countries;
- high leverage up to 1:500;
- lowest spreads from 0.0 pips;
- a variety of trading instruments, including 60 currency pairs, futures, and CFDs on indices. Commodities, metals, stocks, and bonds are also available.
- availability of Islamic accounts
- instant order execution.
- an opportunity to trade on the go, from any gadget with access to the internet.
Disadvantages of IC Markets
Like any broker, IC Markets has several cons, too, including:
- no weekend trading;
- delays in payment;
- minimum deposit of $200;
- no additional bonuses and contests for traders.
Why is the MT4 platform still so popular?
MetaTrader 4 is not a new trading platform. It was launched in 2005, and has a newer version called MT5. However, most traders prefer to stay with MT4. The reason is the unique advantages of MT4, including:
- MT4’s interface is more convenient, compared to analogs;
- extended functionality for comfortable and effective trading and technical analysis;
- the ability to use nine-time frames for plotting charts, open as many windows as needed, and test Expert Advisors.
- all transactions are confidential as they are protected with a 128-bit encryption system based on a special algorithm and an electronic signature.
- traders can create an Expert Advisor or new indicators based on their trading strategy, using the MQL programming language built into the platform;
- MT4 is free.
Combined with IC Markets, the MT4 platform makes trading easier and more understandable for both new and experienced traders.
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This content is brought to you by Jacob Lee.
Photo by Nicholas Cappello on Unsplash