Forex Trading With MetaTrader 4

Forex trading with MetaTrader 4 (MT4) software is popular among UK traders due to the reliability and powerful tools on offer. The platform supports a variety of forex trading strategies, with its vast library of indicators and Expert Advisors (EAs). This guide will provide some tips on how to start forex trading with MetaTrader 4, plus a tutorial on charts, signals and more.

Start Forex Trading With MetaTrader 4

Find A Forex Broker

To start trading, you need to find a good online broker that offers forex trading with MetaTrader 4. The broker is the intermediary between you and the interbank market, where you can trade through their platform and they earn a commission for facilitating trades.

There’s a wide range of brokers offering the MT4 platform and other tools. You can take a look at some of our best forex trading broker reviews here.

Best Brokers For UK Forex Traders

Filter Brokers
Found 99 Brokers
Pepperstone offers spreads from 0.0 pips on the Razor account and have almost 61+ pairs available to trade. Lots start at 0.01.
GBPUSD Spread
0.38 pips (Via Razor)
EURUSD Spread
0.09 pips (Via Razor)
GBPEUR Spread
0.49 pips (Via Razor)
Total Assets
180
FCA Regulated
Yes
MT4 Integration
Yes
Trade on 40+ of major, minor & exotic pairs with an award winning platform. Zero commission, free education and low spreads.
GBPUSD Spread
1.0 but 0.0 on Raw Account
EURUSD Spread
1.0 but 0.0 on Raw Account
GBPEUR Spread
1.0 but 0.0 on Raw Account
Total Assets
40
FCA Regulated
MT4 Integration
Yes
Trade with spreads as low as 0.0 pips. $0 Commission. 1:500 Leverage
GBPUSD Spread
0.1-0.5
EURUSD Spread
0.0-0.4
GBPEUR Spread
0.8
Total Assets
100+
FCA Regulated
Yes
MT4 Integration
Yes
Trade major, minor & exotic currency pairs
GBPUSD Spread
From 1.8
EURUSD Spread
From 1.8
GBPEUR Spread
From 1.8
Total Assets
50
FCA Regulated
MT4 Integration
Yes
CMC Markets is headquartered in London and listed on the LSE (FCA Regulated). It offers competitive spreads on a global range of assets via its Next Generation platform.
GBPUSD Spread
0.9
EURUSD Spread
0.7
GBPEUR Spread
1.1
Total Assets
300+
FCA Regulated
Yes
MT4 Integration
Yes
XTB is one of the largest stock exchange-listed FX & CFD brokers in the world, offering access to over 2000 instruments on their trading platforms.
GBPUSD Spread
0.1 pip
EURUSD Spread
0.2 pips var
GBPEUR Spread
0.1 pips
Total Assets
50+
FCA Regulated
Yes
MT4 Integration
No
Reliable and affordable trading since 2009. Join over 400,000 others trading on 300+ CFD products. Trade Forex CFDs from 0.0 spreads on our RAW account through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
GBPUSD Spread
0.0 via ECN
EURUSD Spread
0.0 via ECN
GBPEUR Spread
0.0 via ECN
Total Assets
120+
FCA Regulated
Yes
MT4 Integration
Yes
Trade Forex on 0.0 pip spreads with one of the world's leading forex brokers - IC Markets. Great choice for serious traders. ASIC regulated.
GBPUSD Spread
0.5 pips
EURUSD Spread
0.1 pips
GBPEUR Spread
0.5 pips
Total Assets
56+
FCA Regulated
MT4 Integration
Yes
Avatrade offer 50+ currency pairs and their spreads are some of the best among any broker. They are regulated across 5 continents.
GBPUSD Spread
1.0 var
EURUSD Spread
0.7 var
GBPEUR Spread
1.7 var
Total Assets
40+
FCA Regulated
MT4 Integration
Yes
Forex.com are a leading forex broker. Offering the largest range of currency pairs (80+) and some of the tightest spreads in the industry.
GBPUSD Spread
1.0 Var
EURUSD Spread
0.7 Var
GBPEUR Spread
0.7 Var
Total Assets
80+
FCA Regulated
Yes
MT4 Integration
Yes
BDSwiss offer 250+ Shares, Indices, Forex, Commodities and Cryptocurrencies markets via CFDs. With spreads from 1 pip and an award winning app, they offer a great package.
GBPUSD Spread
1.7 pips
EURUSD Spread
1.2 pips
GBPEUR Spread
1.3 pips
Total Assets
50+
FCA Regulated
MT4 Integration
Yes
Trade on close to 20 currency pairs, including crypto pairs. 'Covest' and follow experienced traders.
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
18
FCA Regulated
MT4 Integration
No
XM.com deliver ultra low spreads across a huge range of Forex markets. Flexible lot sizes, and Micro and XM Zero accounts accommodate every level of trader.
GBPUSD Spread
2.1 pips (var)
EURUSD Spread
1.6 pips (var)
GBPEUR Spread
2 pips (var)
Total Assets
55+
FCA Regulated
MT4 Integration
Yes
Axi is a global online FX and CFD trading company, trusted by 60,000+ ambitious customers in 100+ countries around the world.
GBPUSD Spread
0.1-0.3 pips (Floating)
EURUSD Spread
0-0.2 pips (Floating)
GBPEUR Spread
0.1-0.3 pips (Floating)
Total Assets
80+
FCA Regulated
Yes
MT4 Integration
Yes
Global brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features.
GBPUSD Spread
1.6 pips (var)
EURUSD Spread
1.1 pips (var)
GBPEUR Spread
1.3 pips (var)
Total Assets
70+
FCA Regulated
Yes
MT4 Integration
Yes
Capital.com offer 38 Forex pairs for trading. All have competitive spreads. The firm also ensures negative balance protection.
GBPUSD Spread
1.3 pips (var)
EURUSD Spread
0.8 pips (var)
GBPEUR Spread
1.5 pips (var)
Total Assets
138
FCA Regulated
Yes
MT4 Integration
Yes
Trade currencies, including pairs with the USD
GBPUSD Spread
1.6 pips
EURUSD Spread
1.3 pips
GBPEUR Spread
1.6 pips
Total Assets
50+
FCA Regulated
MT4 Integration
No
Binary.com deliver advanced forex trading via the MetaTrader5 platform and 3 Account Types
GBPUSD Spread
1 pip var
EURUSD Spread
0.5 pip var
GBPEUR Spread
1 pip var
Total Assets
45+
FCA Regulated
MT4 Integration
Yes
67 major, minor and exotic FX pairs
GBPUSD Spread
1.3 pips (var)
EURUSD Spread
0.70 pips (var)
GBPEUR Spread
1 pip var
Total Assets
67
FCA Regulated
Yes
MT4 Integration
Yes
Forex trading is offered on 55 pairs, with spreads from just 0.8 pips on the Exclusive account
GBPUSD Spread
0.3 pips
EURUSD Spread
0.15 pip
GBPEUR Spread
0.4 pips
Total Assets
55
FCA Regulated
MT4 Integration
Yes
IG offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have a 40 year track record of excellence.
GBPUSD Spread
0.9 pips
EURUSD Spread
0.6 pips
GBPEUR Spread
2 pips
Total Assets
90+
FCA Regulated
Yes
MT4 Integration
Yes
Multi-Award winning broker. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
GBPUSD Spread
2.39 pips (Ave)
EURUSD Spread
1.58 pips (Ave)
GBPEUR Spread
1.74 pips (Ave)
Total Assets
430+
FCA Regulated
Yes
MT4 Integration
Yes
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
GBPUSD Spread
2 pips
EURUSD Spread
1 pips
GBPEUR Spread
1.5 pips
Total Assets
50+
FCA Regulated
Yes
MT4 Integration
No
UFX are forex trading specialists but also have a number of popular stocks and commodities. Offering tight spreads and one of the best ranges of major and minor pairs on offer, they are a great option for forex traders.
GBPUSD Spread
5 pips
EURUSD Spread
3 pips
GBPEUR Spread
4 pips
Total Assets
65+
FCA Regulated
MT4 Integration
Yes
Take leveraged positions on popular currencies.
GBPUSD Spread
0.8
EURUSD Spread
0.8
GBPEUR Spread
0.8
Total Assets
25+
FCA Regulated
MT4 Integration
Yes
Trade a modest selection of currency pairs on a web-based terminal
GBPUSD Spread
Floating
EURUSD Spread
Floating
GBPEUR Spread
Floating
Total Assets
11
FCA Regulated
MT4 Integration
No
Speculate on major, minor and exotic currency pairs with sub 1 pip spreads
GBPUSD Spread
0.7
EURUSD Spread
0.6
GBPEUR Spread
0.6
Total Assets
44
FCA Regulated
MT4 Integration
No
Trade major and minor currency pairs with competitive leverage rates
GBPUSD Spread
Floating
EURUSD Spread
Floating
GBPEUR Spread
Floating
Total Assets
25+
FCA Regulated
MT4 Integration
No
GemForex offers 33 currency pairs, including majors, minors and exotics.
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
33
FCA Regulated
MT4 Integration
Yes
TopFX offers leveraged trading on a long list of currency pairs.
GBPUSD Spread
From 0.2
EURUSD Spread
From 0.2
GBPEUR Spread
From 0.2
Total Assets
90
FCA Regulated
Yes
MT4 Integration
Yes
EFG Hermes supports spot and CFD forex day trading through both its desktop and mobile platforms.
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
N/A
FCA Regulated
MT4 Integration
No
Finvasia offers leveraged forex trading on multiple currency pairs, including with INR.
GBPUSD Spread
Floating
EURUSD Spread
Floating
GBPEUR Spread
Floating
Total Assets
10+
FCA Regulated
MT4 Integration
No
Clients of LidyaTrade can speculate on all the majors, most of the minors and even exotic currency pairs using MT5.
GBPUSD Spread
From 0.7 pips
EURUSD Spread
From 0.7 pips
GBPEUR Spread
From 0.7 pips
Total Assets
10+
FCA Regulated
MT4 Integration
No
Sheer Markets supports trading in major, minor, exotic and emerging markets currency pairs.
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
90
FCA Regulated
MT4 Integration
Yes
Scope Markets offers MT5 trading for a range of major, minor and exotic currency pairs with leverage rates as high as 1:30 for retail clients and 1:100 for professional traders.
GBPUSD Spread
1.0
EURUSD Spread
1.0
GBPEUR Spread
1.0
Total Assets
44
FCA Regulated
MT4 Integration
No
Finveo clients that wish to speculate on the currency markets may do so through more than 60 forex pairs, including major, minor and exotic couplings.
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
60
FCA Regulated
MT4 Integration
Yes
TMGM supports forex trading on all three of its platforms with competitive spreads, no commissions and VPS hosting services
GBPUSD Spread
0
EURUSD Spread
0
GBPEUR Spread
0.2
Total Assets
60
FCA Regulated
MT4 Integration
Yes
IMMFX offers leveraged forex trading with tight spreads.
GBPUSD Spread
0.4
EURUSD Spread
0.1
GBPEUR Spread
0.5
Total Assets
60+
FCA Regulated
MT4 Integration
Yes
XBTFX offers a range of major, minor and exotic currency pairs for speculation on the foreign exchange markets from both desktop and mobile devices
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
79
FCA Regulated
MT4 Integration
Yes
AZAforex clients can trade over 70 major, minor and exotic currency pairs
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
72
FCA Regulated
MT4 Integration
No
FxOnUs clients can trade a wide range of currency pairs, including major, minor and exotic couplings.
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
8+
FCA Regulated
MT4 Integration
Yes
10TradeFX offers a range of currency pairs with floating spreads and high leverage opportunities
GBPUSD Spread
1.5
EURUSD Spread
1.5
GBPEUR Spread
1.5
Total Assets
39
FCA Regulated
MT4 Integration
No
FXCL clients can trade more than 40 major, minor and exotic currency pairs with regular and ECN execution models on the MT4 platform.
GBPUSD Spread
0.4
EURUSD Spread
0.1
GBPEUR Spread
0.4
Total Assets
43
FCA Regulated
MT4 Integration
Yes
Anzo Capital supports over 40 major, minor and exotic currency pairs with both STP and ECN execution models.
GBPUSD Spread
0.4 pips
EURUSD Spread
0.1 pips
GBPEUR Spread
0.4 pips
Total Assets
45
FCA Regulated
MT4 Integration
Yes
Golden Brokers supports forex trading for clients across the world with more than 60 different currency pairs.
GBPUSD Spread
3
EURUSD Spread
3
GBPEUR Spread
4
Total Assets
62
FCA Regulated
MT4 Integration
No
TradeFW offers over 30 currency pairs, including EURUSD, USDJPY and GBPUSD
GBPUSD Spread
0.11 pips
EURUSD Spread
0.6 pips
GBPEUR Spread
0.9 pips
Total Assets
30+
FCA Regulated
MT4 Integration
Yes
Switch Markets offer 60+ currency pairs, including majors, minors and exotics.
GBPUSD Spread
0.5
EURUSD Spread
0.1
GBPEUR Spread
0.6
Total Assets
60+
FCA Regulated
MT4 Integration
Yes
OpoForex offers 35+ spot currency pairs, covering all majors and top minors.
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
35+
FCA Regulated
MT4 Integration
Yes
IIFL offers forex trading on a range of pairs with the Indian Rupee (INR).
GBPUSD Spread
Not offered
EURUSD Spread
Not offered
GBPEUR Spread
Not offered
Total Assets
20+
FCA Regulated
MT4 Integration
No
nextmarkets offers more than 20 currency pairs, including major, minor and exotic pairs, available as spot and CFD instruments on Gettex.
GBPUSD Spread
1
EURUSD Spread
0.6
GBPEUR Spread
0.8
Total Assets
21
FCA Regulated
MT4 Integration
No
AAATrade offers 80+ forex pairs, including majors and minors.
GBPUSD Spread
0.00002
EURUSD Spread
0.00002
GBPEUR Spread
0.00002
Total Assets
10000+
FCA Regulated
MT4 Integration
No
FXPesa offers 66 currency pairs, including all majors, plus a selection of minors and exotics.
GBPUSD Spread
From 0.2 pips
EURUSD Spread
From 0 pips
GBPEUR Spread
From 0.2 pips
Total Assets
66
FCA Regulated
MT4 Integration
Yes
Purple Trading clients are in a great position to speculate on foreign exchange markets with over 60 major, minor and exotic currency pairs
GBPUSD Spread
1.5
EURUSD Spread
1.2
GBPEUR Spread
1.3
Total Assets
59
FCA Regulated
Yes
MT4 Integration
Yes
ACY Securities supports forex trading with over 60 major, minor and exotic currency pairs on the industry-favourites, MT4 and MT5.
GBPUSD Spread
0.8
EURUSD Spread
0.4
GBPEUR Spread
0.5
Total Assets
63
FCA Regulated
MT4 Integration
Yes
Rockfort Markets offers competitive pricing on a wide range of major, minor and exotic currency pairs through MT4 and TWS.
GBPUSD Spread
0.6
EURUSD Spread
0.6
GBPEUR Spread
0.6
Total Assets
50
FCA Regulated
MT4 Integration
Yes
Forex trading with Finalto is done through contracts for difference, with a range of major, minor and exotic currency pairs on offer.
GBPUSD Spread
13.9
EURUSD Spread
2.6
GBPEUR Spread
10.8
Total Assets
67
FCA Regulated
Yes
MT4 Integration
Yes
Cryptobo clients can trade binary options in a range of major, minor and exotic currency pairs.
GBPUSD Spread
N/A
EURUSD Spread
N/A
GBPEUR Spread
N/A
Total Assets
16
FCA Regulated
MT4 Integration
No
ICE FX clients can speculate upon the foreign exchange markets with the world-renowned MT4.
GBPUSD Spread
1.0
EURUSD Spread
0.8
GBPEUR Spread
1.3
Total Assets
36
FCA Regulated
MT4 Integration
Yes
40+ currency pairs available on majors, minors and exotics.
GBPUSD Spread
From 0.6 pips
EURUSD Spread
From 0 pips
GBPEUR Spread
Variable
Total Assets
40+
FCA Regulated
MT4 Integration
Yes
Binarium clients can purchase binary options contracts on twenty major, minor and exotic currency pairs.
GBPUSD Spread
N/A
EURUSD Spread
N/A
GBPEUR Spread
N/A
Total Assets
20
FCA Regulated
MT4 Integration
No
Yadix boasts more than 50 major, minor and exotic currency pairs on the world-renowned MT4 platform.
GBPUSD Spread
0.4
EURUSD Spread
0.2
GBPEUR Spread
0.4
Total Assets
57
FCA Regulated
MT4 Integration
Yes
Over 45 currency pairs can be traded by Brokereo clients on the award-winning MT4 trading platform.
GBPUSD Spread
2.5
EURUSD Spread
2
GBPEUR Spread
1.9
Total Assets
45
FCA Regulated
MT4 Integration
Yes
Exinity Trader Pro supports major, minor and exotic forex trading on MT4 and MT5 platforms.
GBPUSD Spread
0.5
EURUSD Spread
0
GBPEUR Spread
0.5
Total Assets
19
FCA Regulated
Yes
MT4 Integration
Yes
ForexChief supports spot foreign exchange trading on all account types for 40 major, minor and exotic currency pairs on both MT4 and MT5.
GBPUSD Spread
0.9
EURUSD Spread
0.4
GBPEUR Spread
0.9
Total Assets
40
FCA Regulated
MT4 Integration
Yes
UOB Kay Hian supports trading in over 30 currency pairs with tight spreads and sophisticated analysis tools.
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
30
FCA Regulated
MT4 Integration
No
Pacific Union offers 30+ currency pairs, including majors such as EUR/USD and USD/JPY
GBPUSD Spread
From 0.5 pips
EURUSD Spread
From 0.2 pips
GBPEUR Spread
From 0.4 pips
Total Assets
200+
FCA Regulated
MT4 Integration
Yes
Alpha FX provides premium forex trading support for a range of major, minor and exotic currency pairs.
GBPUSD Spread
8
EURUSD Spread
2
GBPEUR Spread
4
Total Assets
88
FCA Regulated
Yes
MT4 Integration
No
A+ Trader clients can speculate upon 30 different currency pairs on the industry-leading MT4 platform.
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
30
FCA Regulated
MT4 Integration
Yes
5paisa supports forex trading through futures and options on four major currencies paired with the Indian rupee.
GBPUSD Spread
N/A
EURUSD Spread
N/A
GBPEUR Spread
N/A
Total Assets
4
FCA Regulated
MT4 Integration
No
AvantGardeFX offers a range of major, minor and exotic currency pairs.
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
58
FCA Regulated
MT4 Integration
Yes
EuroTrader is a regulated brokerage firm with securities and derivatives trading products, including stocks, forex and cryptos.
GBPUSD Spread
0.7
EURUSD Spread
0.2
GBPEUR Spread
0.6
Total Assets
59
FCA Regulated
MT4 Integration
Yes
As Angel Broking is an Indian brokerage, it is limited by regulation and can only support forex trading against the INR with USD, GBP, EUR or JPY.
GBPUSD Spread
N/A
EURUSD Spread
N/A
GBPEUR Spread
N/A
Total Assets
4
FCA Regulated
MT4 Integration
No
GoStreams offers trading with CFDs on over 58 major, minor and exotic currency pairs on MetaTrader 4 accounts.
GBPUSD Spread
0.3
EURUSD Spread
0.3
GBPEUR Spread
0.3
Total Assets
58
FCA Regulated
MT4 Integration
Yes
Hugo's Way supports CFD trading in 55 major, minor and exotic forex pairs on the industry-renowned MT4 trading platform.
GBPUSD Spread
1.2
EURUSD Spread
0.5
GBPEUR Spread
0.4
Total Assets
55
FCA Regulated
MT4 Integration
Yes
Ally Invest offers forex trading in over 80 major, minor and exotic currency pairs.
GBPUSD Spread
1
EURUSD Spread
1
GBPEUR Spread
1
Total Assets
80
FCA Regulated
MT4 Integration
No
SuperForex is an African-based forex and derivatives broker with currency pairs, commodities, cryptos, stocks and indices.
GBPUSD Spread
0
EURUSD Spread
0
GBPEUR Spread
0
Total Assets
100+
FCA Regulated
MT4 Integration
Yes
Livemarkets is a forex and CFD broker with over 100,000 assets on MT4 and a proprietary web terminal.
GBPUSD Spread
1.8
EURUSD Spread
1.9
GBPEUR Spread
2.9
Total Assets
50+
FCA Regulated
Yes
MT4 Integration
Yes
Sharekhan is among the best stock and derivatives trading brokers in India.
GBPUSD Spread
N/A
EURUSD Spread
N/A
GBPEUR Spread
N/A
Total Assets
6
FCA Regulated
MT4 Integration
No
HotForex has CFD trading on over 50 major, minor and exotic currency pairs with MT4 and MT5 accounts.
GBPUSD Spread
1.8
EURUSD Spread
1.3
GBPEUR Spread
1.5
Total Assets
50
FCA Regulated
Yes
MT4 Integration
Yes
BUX X supports forex trading in 36 major, minor and exotic currency pairs through its bespoke mobile trading platform.
GBPUSD Spread
1.2
EURUSD Spread
0.7
GBPEUR Spread
1.0
Total Assets
36
FCA Regulated
Yes
MT4 Integration
No
BMFN supports forex trading in more than 20 major and minor currency pairs with variable and fixed spread account options.
GBPUSD Spread
1.8
EURUSD Spread
1.5
GBPEUR Spread
4
Total Assets
22
FCA Regulated
Yes
MT4 Integration
Yes
Offers 80+ spot forex pairs to US traders, plus futures from multiple global exchanges, including ICE, ASX and Eurex
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
Varies with provider
FCA Regulated
MT4 Integration
Yes
AdroFX clients can trade more than 60 major, minor and exotic forex pairs.
GBPUSD Spread
From 0.5
EURUSD Spread
From 0.4
GBPEUR Spread
From 1.5
Total Assets
60+
FCA Regulated
MT4 Integration
Yes
A long list of currencies with high trading volumes and liquidity are available.
GBPUSD Spread
1.5
EURUSD Spread
1.5
GBPEUR Spread
2.1
Total Assets
48
FCA Regulated
Yes
MT4 Integration
Yes
Start trading on dozens of currencies at RoboMarkets with powerful analysis tools and pattern recognition technology.
GBPUSD Spread
2.0
EURUSD Spread
1.4
GBPEUR Spread
1.6
Total Assets
35+
FCA Regulated
MT4 Integration
Yes
Sage FX offers trading on major and cross currency pairs.
GBPUSD Spread
0.9
EURUSD Spread
0.9
GBPEUR Spread
2.5
Total Assets
28
FCA Regulated
MT4 Integration
Yes
OBR Invest offers forex trading on all major pairs, plus popular crosses and exotics.
GBPUSD Spread
From 1.8
EURUSD Spread
From 2.2
GBPEUR Spread
From 1.8
Total Assets
45
FCA Regulated
MT4 Integration
Yes
Trade on 40+ major and minor currencies with up to 1:30 leverage.
GBPUSD Spread
1.2
EURUSD Spread
0.6
GBPEUR Spread
1.2
Total Assets
40
FCA Regulated
Yes
MT4 Integration
Yes
Spread Co offers trading on a long list of online currencies with competitive spreads.
GBPUSD Spread
1.0
EURUSD Spread
0.8
GBPEUR Spread
1.0
Total Assets
38
FCA Regulated
Yes
MT4 Integration
No
Trade a list of currencies with floating and fixed spreads depending on the account.
GBPUSD Spread
Variable & Fixed
EURUSD Spread
Variable & Fixed
GBPEUR Spread
Variable & Fixed
Total Assets
100+
FCA Regulated
MT4 Integration
No
Trade an extensive list of online currencies with low spreads.
GBPUSD Spread
From 0.4
EURUSD Spread
From 0.4
GBPEUR Spread
From 0.4
Total Assets
330+
FCA Regulated
Yes
MT4 Integration
Yes
Trade dozens of currencies with 1:30 leverage.
GBPUSD Spread
1.3
EURUSD Spread
0.3
GBPEUR Spread
1.5
Total Assets
35+
FCA Regulated
Yes
MT4 Integration
Yes
Trade over three-dozen currencies with competitive floating spreads.
GBPUSD Spread
From 0.4
EURUSD Spread
From 0.4
GBPEUR Spread
From 0.4
Total Assets
38
FCA Regulated
MT4 Integration
Yes
Ultra tight spreads from 0.1 pips are available on major, minor and exotic forex pairs.
GBPUSD Spread
From 0.1
EURUSD Spread
From 0.1
GBPEUR Spread
From 0.1
Total Assets
25+
FCA Regulated
MT4 Integration
Yes
Start trading a long list of leading currencies with up to 1:30 leverage.
GBPUSD Spread
From 0.9
EURUSD Spread
From 0.9
GBPEUR Spread
From 0.9
Total Assets
38
FCA Regulated
MT4 Integration
Yes
Buy and sell over 50 currencies with competitive floating spreads.
GBPUSD Spread
1.2
EURUSD Spread
0.5
GBPEUR Spread
1.1
Total Assets
50+
FCA Regulated
MT4 Integration
Yes
Buy and sell over 50 currencies with zero pip spreads available.
GBPUSD Spread
Raw from 0.0 pips
EURUSD Spread
Raw from 0.0 pips
GBPEUR Spread
Raw from 0.0 pips
Total Assets
50
FCA Regulated
MT4 Integration
Yes
Ultra competitive spreads are available on forex pairs at Zenfinex.
GBPUSD Spread
0.3
EURUSD Spread
0.1
GBPEUR Spread
0.3
Total Assets
50+
FCA Regulated
Yes
MT4 Integration
Yes
MultiBank FX offers investing in leading major, minor and exotic currency pairs.
GBPUSD Spread
0.8
EURUSD Spread
0.3
GBPEUR Spread
0.8
Total Assets
45+
FCA Regulated
MT4 Integration
Yes

We highly recommend that you try before you buy with a demo MT4 account. The simulator within MT4 allows traders to browse the platform without risking real capital.

Install & Set Up

Once you’ve registered for an account, your broker will provide you with details on the MT4 download process for Windows or Mac PCs.

Alternatively, you can trade forex directly through an internet browser, with the MetaTrader 4 WebTrader, or the MT4 mobile app.

Exploring The Platform

Once you have registered and logged in, you can start browsing the user-friendly terminal which provides everything you need on one screen.

Forex Trading With MetaTrader 4

Forex Trading With MetaTrader 4

The left-hand Market Watch window indicates all the currency pairs available, which can be hidden if preferred. Above the main chart window, you can find a selection of technical studies and drawing tools.

Along the bottom of the terminal, your forex orders will be displayed in detail, showing the order size, price and profit of each entry. Across the top, you will find additional features, such as the economic calendar and news, signals and the MetaTrader Market.

Orders

In MT4, you can set either an instant order or a pending order by clicking on the ‘New Order’ in the standard toolbar at the top. A dialogue box will appear, where you can select a currency pair from the drop-down list and select other parameters such as order type and position size.

Volume is expressed in standard lot sizes. A standard lot is worth 100,000 units, so if you want to buy 1,000 units of EUR/USD, for example, you would enter 0.01 in the volume field.

Forex Trading With MetaTrader 4 Orders

Forex Trading With MetaTrader 4 Orders

You can then set your stop loss (SL) and take profit (TP) levels, which help you manage your risk and prevent your FX trades reaching margin call. SL and TP essentially define the price levels for when a position should be closed, to either minimise losses or to lock in your profits.

You can always modify your order later, which we will cover below.

If you want to enter a forex trade via a pending order, follow the same steps but select ‘Pending Order’ in the Type drop-down. You will then be presented with 4 pending order options:

  • Buy Limit – Taking a long position at a lower level than market price
  • Sell Limit – Taking a short position at a higher level than market price
  • Buy Stop – Taking a long position at a higher level than market price
  • Sell Stop – Taking a short position at a lower level than market price
Forex Trading With MT4 Pending Order Types

Forex Trading With MT4 Pending Order Types

Once you’ve selected the type of order, enter the price you wish to enter the market, your position size and SL and TP fields. You can also set an expiry date on a pending order.

To modify a trade, simply right click on your order and select ‘Modify or Delete’ to open up the dialogue box again. Then adjust your SL and TP to the desired levels and click ‘Modify’, which will confirm your order.

To close an open trade, right-click on the trade and select ‘Close Order’. Once you close, your balance will adjust and will be reflected in the profit field in your order window.

Forex Trading With MetaTrader 4 EAs

Expert Advisors (EAs) are forex trading robots which are programmed to automatically place trades once a certain criterion has been met. Automated forex trading is ideal if you don’t have time to manually monitor trades yourself, but be aware that not all EA programmes are trustworthy and reliable.

You can find a vast portfolio of thousands of forex robots for automated trading in the Market section of the MetaTrader 4 platform. Simply select one to install onto your PC and look for the trading robot in your navigator panel in the MT4 Terminal.

Forex Trading Robots With MT4

Forex Trading Robots With MT4

Forex Trading With MetaTrader 4 Indicators

When forex trading, you can enhance your strategies on MT4 using the 30 pre-included indicators and 24 graphical objects for technical analysis.

One of the best features of MetaTrader 4 is the customisable charts, which allow you to add multiple indicators and objects in various colours. To access these, click on ‘Insert’ in the top toolbar and choose from the selection in the drop-down.

Forex Trading Using MT4 Indicators

Forex Trading Using MT4 Indicators

Once you’ve selected the one you want to use, a dialogue box will appear where you can set the parameters of the indicator. Trading forex with indicators like the Moving Average Convergence Divergence (MACD) and Bollinger Bands, is also popular among traders.

Moving Average Convergence Divergence identifies moving averages which are indicating a new trend, consisting of two converging lines and a histogram to indicate the difference. Bollinger bands indicate the market’s volatility by measuring the variation of prices over time, creating a band with a simple moving average (SMA) in the middle.

You can see how these two studies can be overlaid onto the standard candlestick chart below.

Forex Trading With MetaTrader 4 MACD Indicators

Forex Trading With MetaTrader 4 MACD Indicators

If you want to start trading forex with divergence on MT4, you can access a number of useful guides online, including the Jim Brown downloadable PDF.

MetaTrader also offers thousands of custom forex indicators within the MetaTrader Market and CodeBase.

Additional Features

News & Education

To assist your fundamental analysis, the pre-included economic calendar collates real-time data from public news sources. The calendar can also be filtered by date, event importance and countries.

Forex Trading With MetaTrader 4 Economic Calendar

Forex Trading With MetaTrader 4 Economic Calendar

From the top menu, you can also access information for forex trading strategies, tips and education, including published articles and a MetaTrader 4 community forum.

Forex Trading With MetaTrader 4 Market

The Market page not only contains thousands of indicators and EAs, but also utilities, which includes risk management, analysers and even forex trading games.

Copy Trading & Signals

MetaTrader 4 also offers FX trading signals, which allows traders to automatically copy another provider’s trades. Copy trading can boost efficiency if you have limited time, but it can also be a great strategy-learning tool for beginners.

To choose a provider, click on Signals in the top menu bar and browse the available options. Clicking on one will take you through to the provider’s performance stats.

Forex Copy Trading Signals With MetaTrader 4

Forex Copy Trading Signals With MetaTrader 4

Note that not all providers are reliable and you do have to pay a monthly fee to subscribe. It’s worth spending time researching a few forex providers before choosing.

Final Word On Forex Trading With MetaTrader 4

Forex platforms like MetaTrader 4 are a top choice among traders, offering a powerful interface with customisable charts, indicators and education tools. For beginners still learning how to trade forex in MT4, there’s also a demo account and a community forum. To start trading forex with MT4 today, head to your chosen broker to register.

FAQs

How Do I Start Forex Trading Using MetaTrader 4?

To begin trading forex with MT4, you will need to sign up with an online broker that offers the platform. Once you have registered for a live or demo account, you can then download the platform, or access it straight from your internet browser.

Is Forex Trading With MetaTrader 4 Easy?

The software used in MT4 is user-friendly and easy to navigate, though implementing technical studies and forex analysis will take some practice. We highly recommend you sign up to a demo tutorial in MetaTrader 4 (MT4) and make use of the forum and resources, before trading in a live account.

Is Forex Trading With MetaTrader 4 Safe?

The MetaTrader 4 platform meets the highest security standards, including a Secure Sockets Layer (SSL) encryption system to protect data exchange between servers. MT4 also supports the use of RSA digital signatures. Make sure to check that your broker also offers robust security features

Is Forex Trading With MetaTrader 4 Safe?

The MetaTrader 4 platform meets the highest security standards, including a Secure Sockets Layer (SSL) encryption system to protect data exchange between servers. MT4 also supports the use of RSA digital signatures. Make sure to check that your broker also offers robust security features.

What Forex Trading Features Are Included In The MT4 Platform?

For traders of any level using MT4, there is an array of powerful tools and useful features on offer. Features include over 30 technical indicators and 24 graphical objects, with thousands of custom indicators and EAs available in the Market. There are also 3 chart types and 9 time frames, plus educational articles, a forum, signals and an economic calendar.

When Can I Trade Forex In MetaTrader 4?

Standard forex trading hours typically run from Sunday night to Friday night GMT but due to international overlapping timezones, it is possible to trade 24 hours a day. You can access forex trading hours indicators in the MT4 Market, which will indicate all market sessions in one view.