20 Best MetaTrader 4 Alternatives & Competitors in 2023

He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. When using MetaTrader platforms, such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5), there are automated trading systems known as Expert Advisors (EAs), or Experts for short. Rather, they are the automated trading systems created by traders to execute a trading strategy.

You can download it from the iOS App Store as well as Google Play and use it on your desktop or mobile. If you use our MT4 VPS, it’s possible to log into the VPS using a remote desktop app on your device. This is the same software some of our clients use to access the VPS on a PC. We will discuss the features and tools offered by each broker, as well as the fees charged. We will also provide tips on how to choose the best MT4 white label broker for your needs.

Frequently asked questions about MetaTrader alternatives:

The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in.

Traders can use Expert Advisors combined with technical indicators to develop, test and apply their own algorithms on MT4, making it the benchmark for online forex trading. Once you’ve chosen a forex broker, simply open and fund a brokerage account and then download the MetaTrader 4 software directly from your broker to start trading forex and CFDs. Most brokers also offer demo accounts that allow you to practice trading with virtual funds before graduating to live trading with real money. Launched in 2010, MT5, or MetaTrader 5, is the latest version of the trading platform. Another free application that could perfectly work as a MetaTrader 4 alternative is MetaTrader 5.

Got a trading idea? Try it now.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

If you are interested in learning about algorithmic trading and automated high-frequency trading systems, check out our guide to high-frequency trading. While backtesting is used by traders, it is also used by the signal creators too. Some developers may optimize their strategies over a historical data set (i.e., run it multiple times over the past three months of EUR/USD tick data) on purpose, which can lead to curve-fitted results. MetaTrader 4 is completely free to use, whether you have a demo or live account. That said, you can still incur trading costs charged by your broker (or market-maker) in the form of spreads and commissions when you buy or sell securities such as forex and CFDs.

Trading platforms

Even in the UK, where London is still (just about) the financial centre of the universe an American cannot open an account with a UK stockbroker. It’s not surprising they don’t want their taxable profits going offshore too to Vanuatu either. News broke over the weekend that MT4 and MT5 had been removed from the App IOS store, many speculating it was due to connections with Russia.

It is a crucial risk management practice that is missing when traders trade on MT4. FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade. The apps do not appear to have been removed from Google’s Play Store.

Prop Trading Software

This might seem silly, but I was curious if any of you all use another platform to trade? I’m still a beginner, but I’ve had mt4 freeze up on me while I’m in a trade way more than I’m comfortable with. It is a stop for most of ICE high-speed lines, making it Germany’s most important ICE station. ICE Trains to London via the Channel Tunnel were planned for 2013.[88] All Rhine-Main S-Bahn lines, two U-Bahn lines (U4, U5), several tram and bus lines stop there.

One of the major advantages of cTrader is its enhanced security features. The platform uses SSL encryption to protect users’ data and offers two-factor authentication to ensure that only authorized users can access their accounts. CTrader is another trading platform that will allow users to handle the trading pairs they want without having to be worried about the user interface. Indeed, one of the reasons why people search for MetaTrader 4 alternatives is related to the fact that it is not user-friendly, especially for new investors.

#1 TradingView – Numerous indicators to choose from

Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Browser-based MetaTrader platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS 12.5 to test MetaTrader on the go. Therefore, while there can be pros to using an automated strategy, traders must be aware of the pitfalls and know how to assess any strategy before using it to manage their investment capital.

• One of the major advantages of cTrader is its enhanced security features.
• Even brokers that are not outright scams can use questionable dealing practices within the MetaTrader platform – such as providing poor execution and causing asymmetrical slippage.
• Active Trader Pro is a cloud-based trading platform from Fidelity.
• The platform also supports automated trading strategies and offers access to third-party trading systems.
• We will also provide tips on how to choose the best MT4 white label broker for your needs.
• There is no use of real money; you can start trading without worrying about your real funds.
• MetaTrader is a trading platform for financial markets like Stocks, Forex, Futures, and CFDs.