MT4 Binary Options Brokers
MT4 binary options brokers provide access to one of the top-rated online trading platforms – MetaTrader 4. MT4’s software is commonly integrated with forex brokers, but it is also compatible with some binary options brokers, either for direct trading or to conduct market analysis.
In this review, we list the best binary options brokers with MT4. We also share our 101 guide to trading binary options on MetaTrader 4, unpacking alerts and indicators, market data, mobile apps, demo accounts, and more.
Binary Options Brokers With MT4
Dukascopy offers binary options on currency pairs, stocks and indices, alongside powerful trading tools and market insights. User gets flexible contract sizes and deposits are protected by EU law, though the $1000 starting investment is higher than alternatives.
Min Deposit Payout % Expiry Times $100 90% 3 minutes - 1 day Bonus MetaTrader 4 Markets - Yes CFD, Forex, Stocks, Crypto, Commodities
World Forex offers binary options where you simply decide the stake, price direction and contract timeframe. The payouts are high at up to 100% on American contracts and 85% on European, which also offers a partial refund to traders who close contracts before expiry.
Min Deposit Payout % Expiry Times $1 100% 1 minute - 7 days Bonus MetaTrader 4 Markets - Yes CFD, Forex, Stocks, Crypto, Commodities
GC Option offers beginner-friendly binary options with 86% payouts and opportunities on forex, metals and cryptocurrencies. The broker stands out for its market-leading trading software and access to short-term opportunities with contracts spanning 60 seconds to 48 hours.
Min Deposit Payout % Expiry Times $10 86% 1 minute - 48 hours Bonus MetaTrader 4 Markets - Yes Forex, Crypto, Commodities
MetaTrader 4 (MT4) is a trading platform developed by the software company – MetaQuotes. An updated version of the original MetaTrader 1, it was released for public use in 2004 and became incredibly popular. This is partly due to its user-friendly barcharts, indicators and alerts, plus its flexible customisation options. Today, more than half of retail traders state MT4 is their trading platform of choice.
Several binary options brokers with existing internal platforms have added MT4 as another software option. This means users can trade binary options via the MT4 desktop platform, web trader, and mobile app. With that said, some binary options brokers do not facilitate order execution through the terminal.
It is also worth noting that in September 2022, Apple removed the MetaTrader platforms from its app store. This was due to a lack of compliance with Apple’s App Store Review guidelines. And whilst Apple and MetaQuotes will likely reach a consensus in the future, the MT4 application will probably be gone from their app store for some time.
Note, MT4 gets paid directly via partner brokers. Binary options traders do not have to pay a subscription fee to use the trading platform.
How To Compare MT4 Binary Options Brokers
The main comparison points when choosing between MT4 binary options brokers include:
- Range Of Assets – Which underlying assets can you take positions on? Can you speculate on forex, stocks, metals, energies and cryptos? Alpari, for example, only offers binary options on forex pairs.
- Payouts – The best MT4 binary options brokers offer payouts of 80%+. Volatile assets such as crypto binary options also tend to have lower yields.
- Binary options products – Does the brand only offer straightforward high/low options? Some firms also offer one-touch/no-touch, plus ladder and range options. These can offer higher payouts but are more complex.
- Payment methods – The top binary options brokers that provide access to MT4 accept fee-free and instant deposits via credit cards, wire transfers, plus e-wallets like PayPal. Brands are also increasingly offering crypto payments.
- Features – Beginners may benefit from an MT4 binary options broker with useful additional features, such as the ability to hold options overnight or over the weekend, plus copy trading. Some firms also offer live signals and alerts via the mobile app.
- Demo account – Leading MT4 binary options brokers offer a free demo account where you can get up to speed with the MetaTrader 4 platform. New investors can practise trading from charts and graphs and can make use of platform tutorials.
- Regulated – The list of binary options brokers with access to MetaTrader 4 that are regulated in the UK will be low. This is because the FCA has banned local brokerages from offering binaries. Instead, traders will need to sign up with offshore firms. This makes it increasingly important to trade binary options with a trusted MT4 broker.
- Customer support – Top-rated binary options brokers with access to MT4 offer 24/7 support via video chat, email or telephone. Knowledgeable customer service representatives can also advise on a platform query, for example, if MT4 keeps crashing or moving.
- Fees – Charges can include currency conversion fees, as well as any commissions or withdrawal fees. If a broker is not transparent about their fees, it is best to avoid opening an account with them.
- Minimum Deposit – Beginners may want a low deposit binary options broker. For example, Alpari has a $5 minimum deposit required while Dukascopy accepts traders with a $100 starting payment.
What Makes MT4 Popular With Binary Options Traders?
Indicators & Tools
MetaTrader 4 is popular with binary options traders for several reasons, including the range of 30 technical indicators and 23 analytical objects that it supports, as well as the algorithmic trading system that it offers.
The variety of indicators at MT4 binary options brokers means the software can support a range of 1 hour to 7 day and more strategies. For example, if a binary options trader’s strategy requires bar charts or tick charts indicating price and volume changes, MT4 is suitable. A trader preferring Japanese candlestick charts with accurate Bollinger bands and Ichimoku Kinko Hyo indicators will also be able to utilise MT4 to display volume and volatility information in their preferred format.
Some of the most popular indicators from MT4 include: Average True Range, Average Directional Movement Index, Super Arrow, Bollinger Bands, Momentum, Money Flow Index, Moving Average Convergence/Divergence, Relative Strength Index, and Stochastic Oscillator.
MT4 binary options brokers also offer a user-friendly trading terminal with helpful features:
- Market Watch: On the top left of the MT4 display screen is the market watch window, which lists the most popular instruments. Note, this is not exclusive to instruments that are traded via binary options.
- Graph Area: The MT4 display is largely taken up by a window showing market data in graph format. You can view up to 4 different markets simultaneously.
- Navigator: Just below the market watch is the navigator window. This helps traders view their accounts with different brokers, the indicators that are active on the graphs, and other add-ons.
- Tool Bar: The toolbar, located at the top of the MT4 screen, allows for full customisation of your trading display. It allows you to change the graph and market data format, add indicators, change the language, and save your progress.
- Tool Box: Located at the bottom of the screen, this allows you to navigate open positions and view your trade history and portfolio. The toolbox also includes calendars, the MT4 marketplace, and signals.
A well-known feature of the MT4 platform, the algorithmic trading system allows users to create their own trading robots called Expert Advisors. Using the MQL4 object-oriented programming language, the platform allows for the development of complex trading robots, strategies, and technical indicators. With an in-built debugger, anything developed using the system is automatically moved to the MT4 platform to be tested.
Indicators, often available as a free download, are developed to analyse the market before the Expert Advisor automatically trades using information taken from the analysis. Additionally, your application can be published in the MT4 Code Base for other traders to download for free. Some traders instead choose for their Expert Advisor to be sold on the MT4 Market, or be sold to individual customers on a freelance basis.
MT4 Code Base & Market
The MT4 Code Base is a dedicated community where binary options traders using MT4 can share ideas, talk about strategies, and publish algorithms created using the automated trading system.
The MT4 Market allows all users of the platform to buy and sell indicators, Expert Advisors and other add-ons created by other users. This gives traders access to 1700+ additional trading robots and 2100+ extra technical indicators.
Bottom Line On MT4 Binary Options Brokers
The number of brokers you can join that provide direct binary options trading on MT4 today is low. However, several well-known brands offer MetaTrader 4 alongside their proprietary binary options terminal. This means users can still conduct market analysis on MT4 to inform their binary options trades.
Head to our list of the best MT4 binary options brokers to start trading.
Can You Trade Binary Options On MT4?
In the past, MT4 collaborated with companies like Spot Option to make the MetaTrader 4 software compatible with binary options trading. This meant you could manage binary options trades directly from the MT4 platform. However, the number of binary options brokers and exchanges with direct trading via the MT4 platform is now low with many having closed. Instead, users can turn to MT4 to analyse the markets, and develop and test strategies, before executing trades on their binary broker’s own platform.
How Do I Trade Binary Options On MT4?
To trade binary options on MT4, you must use a compatible broker. Alternatively, you can use MT4 indicators and signals to analyse the relevant market, before making binary options trades on a separate platform. See our guide to trading binary options using MT4 for more tips.