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
Plus500 Offer forex trading via CFDs with tight variable spreads and a range of well over 70 currency pairs. Free Unlimited Demo Account.
GBPUSD Spread
Variable
EURUSD Spread
Variable
GBPEUR Spread
Variable
Total Assets
70+
FCA Regulated
Yes
MT4 Integration
No
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
70+
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
Deriv.com are a new brokerage, offering options and CFDs on a simple, reliable, flexible platform. Get access to volatility indexes exclusively at Deriv.
GBPUSD Spread
From 0.5
EURUSD Spread
From 0.5
GBPEUR Spread
From 0.5
Total Assets
FCA Regulated
MT4 Integration
No
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
Use digital options to take straightforward buy and sell positions on a range of currencies.
GBPUSD Spread
N/A
EURUSD Spread
N/A
GBPEUR Spread
N/A
Total Assets
27
FCA Regulated
MT4 Integration
No
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
Trade FX pairs with tight spreads & leverage.
GBPUSD Spread
1.5
EURUSD Spread
1.6
GBPEUR Spread
1.5
Total Assets
40+
FCA Regulated
Yes
MT4 Integration
No
FXTM offer forex trading on a huge range of currency pairs. Spreads can be as low as 0.1 with the ECN account types.
GBPUSD Spread
0.3 (var)
EURUSD Spread
0.1 (var)
GBPEUR Spread
0.2 (var)
Total Assets
50+
FCA Regulated
Yes
MT4 Integration
Yes
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
0.59 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 Forex on 0.0 pip spreads with the world's leading True ECN forex broker - 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
FXCM are an FCA regulated, London based broker. Companies under the FXCM umbrella are also regulated in Australia and South Africa.
GBPUSD Spread
0.5 pips var*
EURUSD Spread
0.2 pips var*
GBPEUR Spread
0.5 pips var*
Total Assets
40
FCA Regulated
Yes
MT4 Integration
Yes
easyMarkets.com - Simply Honest. Trade CFDs on Forex, Commodities, Indices, Shares & Cryptos With a Top Rated Forex Broker
GBPUSD Spread
1.3 var (MT5)
EURUSD Spread
0.9 (MT4)
GBPEUR Spread
1.5 (MT4)
Total Assets
81+
FCA Regulated
MT4 Integration
Yes
Trade over 70 pairs and keep trading costs to a minimum, with tight spreads or the lowest commissions with Fusion
GBPUSD Spread
0.64 (Ave)
EURUSD Spread
0.12 (Ave)
GBPEUR Spread
0.62 (Ave)
Total Assets
70+
FCA Regulated
MT4 Integration
Yes
CMC Markets is headquartered in London and listed on the LSE (FCA Regulated). They offer competitive spreads on a global range of assets via a next generation platform.
GBPUSD Spread
0.9
EURUSD Spread
0.7
GBPEUR Spread
1.1
Total Assets
300+
FCA Regulated
Yes
MT4 Integration
Yes
NinjaTrader offer Traders Futures and Forex trading. Use Auto-trade algorithmic strategies and configure your own trading platform, and trade at the lowest costs.
GBPUSD Spread
1.6 pips
EURUSD Spread
1.3 pips
GBPEUR Spread
1.6 pips
Total Assets
50+
FCA Regulated
MT4 Integration
Yes
A regulated bank, Saxobank offer CFD, Stocks and Forex trading on 35,000+ markets via the SaxoTrader Pro and SaxoTrader Go platforms
GBPUSD Spread
0.7 (varies by region)
EURUSD Spread
0.2 (varies by region)
GBPEUR Spread
0.6 (varies by region)
Total Assets
40+
FCA Regulated
Yes
MT4 Integration
Yes
Trading 212 Offer a truly mobile trading experience. With tight spreads and a huge range of markets, they offer a dynamic and detailed trading environment. Recent customer care issues have severely damaged the reputation of the brand.
GBPUSD Spread
2 pips
EURUSD Spread
1.2 pips
GBPEUR Spread
1.2 pips
Total Assets
33
FCA Regulated
Yes
MT4 Integration
No
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
XTB is one of the largest stock exchange-listed FX & CFD brokers in the world, offering access to over 2000 instruments from two platforms: its own award-winning xStation 5 and the traditional MT4.
GBPUSD Spread
0.1 pip
EURUSD Spread
0.2 pips var
GBPEUR Spread
0.1 pips
Total Assets
50+
FCA Regulated
Yes
MT4 Integration
Yes
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
Yes
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
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
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
Trade majors, minors, & exotic currency pairs
GBPUSD Spread
0.2 pips
EURUSD Spread
0.6 pips
GBPEUR Spread
0.2 pips
Total Assets
17
FCA Regulated
MT4 Integration
Yes
Trade forex pairs with high leverage rates.
GBPUSD Spread
1.3
EURUSD Spread
0.8
GBPEUR Spread
1.3
Total Assets
79
FCA Regulated
MT4 Integration
Yes
Trade forex CFDs from 0.0 spreads with Vantage FX. Clients can access popular forex pairs like GBP/USD, EUR/USD and AUD/USD from 0.0 spreads with a flat $2 per lot commission on our RAW account.
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
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
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
67 major, minor and exotic FX pairs
GBPUSD Spread
2 pips
EURUSD Spread
2 pips
GBPEUR Spread
2 pips
Total Assets
67
FCA Regulated
Yes
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
Trade on multiple forex pairs at Grand Capital.
GBPUSD Spread
27
EURUSD Spread
17
GBPEUR Spread
16
Total Assets
54
FCA Regulated
MT4 Integration
Yes
Trade on dozens of currency pairs from around the world with tight spreads
GBPUSD Spread
0.3
EURUSD Spread
0.3
GBPEUR Spread
0.3
Total Assets
50+
FCA Regulated
MT4 Integration
No
Trade on dozens of FX pairs with zero spreads available
GBPUSD Spread
1 pip
EURUSD Spread
0 pips
GBPEUR Spread
1 pip
Total Assets
50
FCA Regulated
MT4 Integration
Yes
There's a long list of major, minor and emerging forex pairs at FXGiants.
GBPUSD Spread
1.97
EURUSD Spread
1.74
GBPEUR Spread
1.90
Total Assets
84
FCA Regulated
MT4 Integration
Yes
Trade major, minor & exotic FX pairs
GBPUSD Spread
0.2
EURUSD Spread
1.6
GBPEUR Spread
0.9
Total Assets
65
FCA Regulated
Yes
MT4 Integration
Yes
Trade on dozens of major, minor & exotic pairs
GBPUSD Spread
1.0
EURUSD Spread
1.0
GBPEUR Spread
1.0
Total Assets
30
FCA Regulated
MT4 Integration
Yes
Trade on nearly 50 leveraged forex pairs.
GBPUSD Spread
1.3
EURUSD Spread
0.7
GBPEUR Spread
2.7
Total Assets
44
FCA Regulated
MT4 Integration
Yes
Libertex - Trade Online. Libertex offer CFD and Forex trading, with fixed commissions and no hidden costs.
GBPUSD Spread
0
EURUSD Spread
0
GBPEUR Spread
0
Total Assets
50+
FCA Regulated
MT4 Integration
Yes
Trade 33 Forex pairs with spreads from 0.0 with the 'Zero' account. Prices quoted to 5 decimals places, and leverage up to 1:1000
GBPUSD Spread
From 0.0
EURUSD Spread
From 0.0
GBPEUR Spread
From 0.0
Total Assets
33
FCA Regulated
MT4 Integration
Yes
iFOREX offers trading on approaching 100 currencies from around the world
GBPUSD Spread
1.8
EURUSD Spread
1.8
GBPEUR Spread
2.8
Total Assets
90
FCA Regulated
Yes
MT4 Integration
No
Forex trading is available on major, minor and exotic currency pairs
GBPUSD Spread
0.9
EURUSD Spread
0.58
GBPEUR Spread
0.9
Total Assets
13
FCA Regulated
MT4 Integration
No
50 currency pairs are available, including majors, minors, and exotics
GBPUSD Spread
1
EURUSD Spread
0.6
GBPEUR Spread
1
Total Assets
50
FCA Regulated
Yes
MT4 Integration
Yes
IronFX offers trading in major currency pairs, plus minors and exotic pairs
GBPUSD Spread
0.8
EURUSD Spread
0.7
GBPEUR Spread
0.7
Total Assets
83
FCA Regulated
Yes
MT4 Integration
Yes
Trade on the FX market with flexible leverage and dynamic market spreads.
GBPUSD Spread
From 0.8
EURUSD Spread
From 0.2
GBPEUR Spread
From 1.2
Total Assets
69
FCA Regulated
Yes
MT4 Integration
Yes
Trade on global currencies with 1:30 leverage.
GBPUSD Spread
0.7
EURUSD Spread
0.6
GBPEUR Spread
1.4
Total Assets
50+
FCA Regulated
MT4 Integration
Yes
Trade on dozens of currency pairs with low spreads
GBPUSD Spread
0.9
EURUSD Spread
0.4
GBPEUR Spread
0.9
Total Assets
40
FCA Regulated
MT4 Integration
No
Trade on dozens of major, minor and exotic FX pairs.
GBPUSD Spread
0.4
EURUSD Spread
0.2
GBPEUR Spread
0.4
Total Assets
60
FCA Regulated
MT4 Integration
Yes
Take positions on the foreign exchange market with leveraged trading products.
GBPUSD Spread
1.1
EURUSD Spread
0.6
GBPEUR Spread
2.3
Total Assets
50+
FCA Regulated
MT4 Integration
Yes
Trade 45+ forex pairs with 1:30 leverage.
GBPUSD Spread
0.9
EURUSD Spread
0.8
GBPEUR Spread
0.7
Total Assets
45+
FCA Regulated
Yes
MT4 Integration
Yes
Trade on close to 60 forex pairs with low spreads & leverage.
GBPUSD Spread
From 0.6
EURUSD Spread
From 0.4
GBPEUR Spread
From 0.5
Total Assets
58
FCA Regulated
MT4 Integration
Yes
Trade major and minor online currencies at ITradeFX.
GBPUSD Spread
1
EURUSD Spread
1
GBPEUR Spread
1.4
Total Assets
23
FCA Regulated
MT4 Integration
No
Trade on an excellent range of popular and emerging forex pairs.
GBPUSD Spread
0.8
EURUSD Spread
0.8
GBPEUR Spread
1.2
Total Assets
100+
FCA Regulated
MT4 Integration
Yes
Trade FX with high leverage rates.
GBPUSD Spread
4
EURUSD Spread
3
GBPEUR Spread
4
Total Assets
35+
FCA Regulated
MT4 Integration
No
Trade over 50 online forex pairs at FXFlat.
GBPUSD Spread
0.9
EURUSD Spread
0.8
GBPEUR Spread
0.8
Total Assets
50+
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
30 currency pairs are available to trade
GBPUSD Spread
2.4 pips
EURUSD Spread
2 pips
GBPEUR Spread
2.4 pips
Total Assets
30
FCA Regulated
MT4 Integration
Yes
Trade on a range of currencies with ultra-low spreads.
GBPUSD Spread
0.6
EURUSD Spread
0.1
GBPEUR Spread
0.9
Total Assets
45
FCA Regulated
Yes
MT4 Integration
Yes
Take positions on the FX market with leverage.
GBPUSD Spread
0.3
EURUSD Spread
0.1
GBPEUR Spread
0.3
Total Assets
50+
FCA Regulated
MT4 Integration
Yes
Forex trading on dozens of majors, minors and exotics
GBPUSD Spread
0.5
EURUSD Spread
0.6
GBPEUR Spread
0.5
Total Assets
41
FCA Regulated
MT4 Integration
No
Trade on popular FX pairs and cross-rates
GBPUSD Spread
2
EURUSD Spread
1.8
GBPEUR Spread
2
Total Assets
55
FCA Regulated
MT4 Integration
Yes
Trade on dozens of forex pairs with low spreads.
GBPUSD Spread
0.49
EURUSD Spread
0.09
GBPEUR Spread
0.61
Total Assets
60+
FCA Regulated
MT4 Integration
Yes
Trade FX pairs with competitive spreads.
GBPUSD Spread
0.7
EURUSD Spread
0.4
GBPEUR Spread
0.8
Total Assets
50+
FCA Regulated
MT4 Integration
Yes
Trade a breadth of forex pairs with up to 1:30 leverage.
GBPUSD Spread
2
EURUSD Spread
2
GBPEUR Spread
3
Total Assets
60+
FCA Regulated
Yes
MT4 Integration
Yes
Trade on dozens of currency pairs with tight spreads
GBPUSD Spread
0.7
EURUSD Spread
0.3
GBPEUR Spread
0.5
Total Assets
36
FCA Regulated
MT4 Integration
Yes
Trade 50+ global currency pairs with up to 1:500 leverage.
GBPUSD Spread
2.1
EURUSD Spread
1.8
GBPEUR Spread
2.2
Total Assets
51
FCA Regulated
MT4 Integration
Yes
Trade with leverage on close to 70 forex pairs
GBPUSD Spread
0.9
EURUSD Spread
0.3
GBPEUR Spread
0.8
Total Assets
67
FCA Regulated
Yes
MT4 Integration
Yes
Established spread betting, forex and CFD broker with over 30 years in the business. Regulated around the globe.
GBPUSD Spread
0.8
EURUSD Spread
0.5
GBPEUR Spread
0.8
Total Assets
FCA Regulated
Yes
MT4 Integration
Yes
Trade over 60 forex currency pairs from around the world.
GBPUSD Spread
0.8
EURUSD Spread
0.3
GBPEUR Spread
0.6
Total Assets
60+
FCA Regulated
MT4 Integration
Yes
Trade on majors, minors and exotics.
GBPUSD Spread
2.2
EURUSD Spread
1.1
GBPEUR Spread
3.1
Total Assets
30+
FCA Regulated
MT4 Integration
Yes
Trade FX pairs with up to 1:400 leverage.
GBPUSD Spread
0.28
EURUSD Spread
0.28
GBPEUR Spread
0.28
Total Assets
49
FCA Regulated
MT4 Integration
Yes
Dukascopy offers FX trading on over 60 currency pairs
GBPUSD Spread
1
EURUSD Spread
0.3
GBPEUR Spread
0.9
Total Assets
63
FCA Regulated
MT4 Integration
Yes
Offering a range of Accounts, including ECN, Instaforex can reduce average spreads to just 0.8 pips. The range of pairs offered is also among the largest of any broker.
GBPUSD Spread
Av. Floating 0.8
EURUSD Spread
Av. Floating 0.8
GBPEUR Spread
Av. Floating 0.8
Total Assets
200+
FCA Regulated
MT4 Integration
Yes
Trading available on close to 40 major, minor, and exotic currency pairs
GBPUSD Spread
1.2
EURUSD Spread
0.5
GBPEUR Spread
1.2
Total Assets
38
FCA Regulated
Yes
MT4 Integration
Yes
SpreadEx offer spread betting on Financials with a range of tight spread markets. Popular award winning, UK regulated broker.
GBPUSD Spread
0.9 pts
EURUSD Spread
0.6 pips
GBPEUR Spread
0.9 pips
Total Assets
60+
FCA Regulated
Yes
MT4 Integration
No
Trade online currencies with ultra-low spreads.
GBPUSD Spread
From 0.00002
EURUSD Spread
From 0.0
GBPEUR Spread
From 0.00002
Total Assets
63
FCA Regulated
MT4 Integration
Yes
Trade with leverage on dozens of popular currencies.
GBPUSD Spread
0.5
EURUSD Spread
0.2
GBPEUR Spread
0.4
Total Assets
50+
FCA Regulated
MT4 Integration
Yes
Capital.com offer 68 Forex pairs for trading. All have competitive spreads. The firm also ensure negative balance protection.
GBPUSD Spread
1 pip
EURUSD Spread
0.6 pips
GBPEUR Spread
0.9 pips
Total Assets
68
FCA Regulated
Yes
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
Alpari International offer forex over a huge range of pairs including Major, minor and exotic pairs. All with competitive spreads and laddered leverage.
GBPUSD Spread
0.7 (var)
EURUSD Spread
0.4 (var)
GBPEUR Spread
0.6 (var)
Total Assets
50+
FCA Regulated
MT4 Integration
Yes
Fondex is an award-winning forex and CFD broker with industry low trading costs
GBPUSD Spread
0.71
EURUSD Spread
0.28
GBPEUR Spread
0.7
Total Assets
67
FCA Regulated
MT4 Integration
No
Skilling offer Standard and Premium accounts offering competitive leverage and spreads across a large range of major, minor and exotic forex pairs.
GBPUSD Spread
0.7 pips
EURUSD Spread
0.4 pips
GBPEUR Spread
1.1 pips
Total Assets
73
FCA Regulated
MT4 Integration
Yes
ETX Capital are a London based, FCA regulated broker offering tight spreads across a wide range of markets. They offer professional client services to Pro clients. ETX are offering a FREE trading course to new clients, and free guaranteed stops on the TraderPro platform.
GBPUSD Spread
0.9
EURUSD Spread
0.6
GBPEUR Spread
0.9
Total Assets
65+
FCA Regulated
Yes
MT4 Integration
Yes
Trade dozens of global currency pairs.
GBPUSD Spread
4.3
EURUSD Spread
3.3
GBPEUR Spread
4.3
Total Assets
60+
FCA Regulated
MT4 Integration
Yes
Trade dozens of leading online forex pairs.
GBPUSD Spread
2
EURUSD Spread
1
GBPEUR Spread
2
Total Assets
40+
FCA Regulated
MT4 Integration
Yes
Ayondo offer trading across a huge range of markets and assets. They also offer negative balance protection and social trading.
GBPUSD Spread
1.1 Var
EURUSD Spread
0.8 pips
GBPEUR Spread
0.7 pips
Total Assets
80+
FCA Regulated
Yes
MT4 Integration
Yes
Trade forex pairs with tight spreads.
GBPUSD Spread
0.5
EURUSD Spread
0.3
GBPEUR Spread
0.8
Total Assets
50
FCA Regulated
Yes
MT4 Integration
Yes
Trade over 70 forex pairs with low spreads.
GBPUSD Spread
1.6
EURUSD Spread
0.8
GBPEUR Spread
1.5
Total Assets
70+
FCA Regulated
MT4 Integration
No
Trade 10 forex pairs with multiple binary options contracts.
GBPUSD Spread
None
EURUSD Spread
None
GBPEUR Spread
None
Total Assets
10
FCA Regulated
MT4 Integration
No
Trade major, minor and exotic forex pairs with leverage.
GBPUSD Spread
0.4
EURUSD Spread
0.2
GBPEUR Spread
0.1
Total Assets
80+
FCA Regulated
Yes
MT4 Integration
Yes
Trade major, minor & emerging forex pairs with 1:30 leverage.
GBPUSD Spread
0.2
EURUSD Spread
0.2
GBPEUR Spread
0.5
Total Assets
50+
FCA Regulated
Yes
MT4 Integration
Yes
Trade forex pairs with up to 1:400 leverage.
GBPUSD Spread
3
EURUSD Spread
2
GBPEUR Spread
3
Total Assets
20+
FCA Regulated
MT4 Integration
Yes
Trade 50+ forex pairs with 1:30 leverage.
GBPUSD Spread
Floating
EURUSD Spread
Floating
GBPEUR Spread
Floating
Total Assets
59
FCA Regulated
Yes
MT4 Integration
Yes
Trade a range of forex pairs with tight spreads.
GBPUSD Spread
0.3
EURUSD Spread
0.2
GBPEUR Spread
0.4
Total Assets
75+
FCA Regulated
MT4 Integration
Yes
Trade major, minor and exotic FX pairs.
GBPUSD Spread
3
EURUSD Spread
3
GBPEUR Spread
4
Total Assets
55+
FCA Regulated
MT4 Integration
Yes
Trade FX pairs with up to 1:500 leverage.
GBPUSD Spread
1.85
EURUSD Spread
1.2
GBPEUR Spread
1.67
Total Assets
70+
FCA Regulated
MT4 Integration
Yes
Trade a range of FX pairs with 1:30 leverage.
GBPUSD Spread
1.3
EURUSD Spread
0.7
GBPEUR Spread
0.9
Total Assets
40+
FCA Regulated
MT4 Integration
Yes
Trading CFD forex pairs with tight spreads.
GBPUSD Spread
1.3
EURUSD Spread
0.7
GBPEUR Spread
0.9
Total Assets
45+
FCA Regulated
MT4 Integration
Yes
Buy and sell FX with 1:30 leverage
GBPUSD Spread
4
EURUSD Spread
3
GBPEUR Spread
5
Total Assets
21
FCA Regulated
Yes
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.