Best MT4 Brokers
We've reviewed the best MT4 brokers in Canada, and highlighted those that accept all Expert Advisors and trading styles. Visit their website to download MetaTrader 4 and get started.
Brokers we recommend
We rate brokers across 5 categories and 18 criteria, following a standardised methodology. Here are our overall and category-specific ratings:
* Availability is subject to local laws and regulations.
Note: for brevity, this table only shows the most popular payment methods and regulators. Open a free account with any of these brokers to view funding options available in your country.
- Flexible leverage up to 1:500.
- Trade over 1,000 financial instruments.
- Trade on MT4/5 or cTrader without restrictions.
- Copy trading service is available.
- Customer support is available 24/7.
- No TradingView integration is available for now.
- No investor compensation fund in the event of bankruptcy.
We've traded through this broker's MT5 Raw account and can vouch for its low spreads and reliable trading environment. Its Raw account is designed for day traders and scalpers, and its Standard account will suit all others.
We also like the breadth of instruments available through its platform. You'll find over 70 currency pairs, as well as gold and silver priced in US dollars, euros and Aussie dollars. You can also go long or short on stocks and government bonds through over 40 ETFs.
Its free educational content also sets it apart from the competition. Fund your account to get access to trading signals from Trading Signal and Autochartist. You'll also get access to free trading courses for beginners and experienced traders, weekly webinars and e-books.
- Enjoy flexible leverage up to 1:500.
- Choose between MetaTrader 4 and 5.
- All trading styles and Expert Advisors are allowed.
- Fast execution speeds from its London data-centre.
- Negative balance protection is only available across Forex and precious metals.
- 4XC is regulated in the Cook Islands, a country without an investor compensation fund.
From the outset, 4XC has offered high leverage (up to 1:500) across Forex, gold and silver. It accepts all trading styles on MT4/5 without restrictions. Alternatively, you may open a PAMM account or a copy trading account.
Its customer service agents, available 6 days a week, have always been friendly and professional. So it's perhaps no surprise that 4XC has received several awards commending the quality of its customer service team.
Overall, we would recommend 4XC to anyone looking for a trustworthy broker, especially if you are primarily interest in trading Forex or precious metals on high leverage.
- Over 750 financial instruments on MT4/5.
- Get free daily trading signals.
- Easily copy professional traders.
- No fees on deposits or withdrawals.
- Get one-on-one assistance when you deposit US$1,000.
- You cannot trade on raw spreads.
- Quarterly and annual inactivity fees.
The breadth of assets available to trade through its platform sets AvaTrade apart from the competition. You'll find over 750 instruments, including currencies, stocks, indices, ETFs (and leveraged ETFs), precious metals, commodities, cryptocurrencies, and government bonds.
AvaTrade supports the MT4 and MT5 platforms, available for Windows and iOS devices. Its web trading platform is sleek, with advanced charting tools. AvaTrade's spreads are competitive and fixed, which can provide a more predictable trading environment, well-suited for beginners.
Its customer service is excellent too. Every time a question has arisen, we've been able to speak to a customer support agent easily through a local telephone number. Our queries were resolved within minutes. AvaTrade support is available five days a week through various channels, including WhatsApp.
- 100% bonus on your 1st deposit (up to US$2,000).
- Flexible leverage up to 1:500.
- All MT4 Expert Advisors are allowed.
- No fees on deposits.
- No minimum deposit.
- FXCC only supports MetaTrader 4.
- Withdrawal fees apply across some, but not all, funding methods.
We particularly like FXCC's high leverage (up to 1:500) available across all currency pairs, gold, silver, stock indices and energy products. It offers negative balance protection, for added peace of mind.
Its MetaTrader 4 integration provides a smooth trading experience, with no lags and only minimal slippage. It accepts all trading styles and Expert Advisors, including scalping robots, without restrictions. We look forward to the day when FXCC will support MT5.
As FXCC offers consistently low spreads, it is possible to enter and exit trades several times a day, to take advantage of even small price swings. Its ECN XL account has no commission. However, FXCC will apply a $5 mark-up per lot, per side, if you open an account through us.
Trade CFDs on a wide range of markets on MetaTrader 4 and 5, with leverage up to 1:1,000 through LiteFinance.com. This broker accepts all EAs and trading styles, including scalping and news trading. Earn up to 2.5% interest on your balance.
- All trading strategies are allowed.
- Get free daily technical and fundamental analysis.
- Receive up to 2.5% interest on used funds.
- Copy trading accounts are also available.
- Withdrawals fees are somewhat high, especially card withdrawals.
We have been trading through LiteFinance's ECN account for over 3 years on raw spreads plus a commission of $5 per lot, per side, and we enjoy its unrestricted trading environment.
Their customer service team is responsive, even on weekends. Our withdrawals have always been processed as quickly as possible. However, their withdrawal fees are a bit high, especially card withdrawals.
LiteFinance publishes a lot of educational content in the form of webinars and articles on its blog, often focused on technical analysis. However, you might find yourself lost if you are new to trading.
What's the best MT4 broker for you?
MetaTrader 4 (MT4) is a popular platform among traders for its user-friendly interface, advanced charting tools, and automated trading capabilities. This article compares and contrasts FP Markets, FXCC, and AvaTrade, across two dimensions: trader experience and investment preferences, to help you find the right broker.
Based on your experience
Beginners: FXCC.com's MetaTrader 4 platform, shown above, is the most user-friendly platform of all featured in this article. Its interface is noticeably less cluttered and easier to navigate than others. However, FXCC offers little to no educational resources. Those interested in learning how to trade will need to look elsewhere for content.
Advanced traders: FPMarkets.com, AvaTrade and FXCC will appeal to experienced traders through their support for one-click trading, advanced charting tools, and automated trading capabilities. However, some traders may prefer to trade through FP Markets or FXCC, which forward client orders onto liquidity providers, whereas AvaTrade acts as a 'market-maker'.
Swing traders and day traders: FP Markets and FXCC are excellent alternatives for swing traders and day traders. Unlike AvaTrade, they both provide an ECN trading environment, with raw spreads and fast execution speeds. Importantly, they accept all trading styles, with no restrictions on MetaTrader's Expert Advisors. Swap-free accounts, also known as Islamic accounts, are available upon request.
Based on your investment preferences
Forex trading: for Forex traders, FPMarkets.com offers over 70 currency pairs with tight spreads on 1:500 leverage. This makes it an attractive option for those looking to trade major, minor, and exotic currency pairs.
Maximum leverage: FP Markets and FXCC offer high leverage (up to 1:500), an attractive proposition for traders with an appetite for risk. These brokers are able to offer higher leverage than most because they're established in offshore jurisdictions, where limits on leverage don't apply. As leverage is a double-edged sword, it's important to use leverage with caution.
Tradeable instruments: FP Markets and AvaTrade.com lead with a diverse range of instruments spanning Forex, stocks, commodities, cryptocurrencies, and even government bonds. However, if you want to access the largest possible number of instruments from a single platform, we would encourage you to open an account with an MT5 broker instead, as MT5 supports more instruments than MT4.
The best MT4 broker for you depends on your level of experience and your specific trading interests. Whether you're a beginner or an advanced trader, and whether your interest lies in Forex, stocks, or commodities, FP Markets, FXCC, and AvaTrade offer unique features and resources to suit your needs. It's important to consider factors such as educational resources, platform interface, leverage options, and the range of tradable instruments when making your choice.
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About the author
I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.