MetaTrader 4 (MT4) is the gold standard of electronic trading platforms for forex and CFDs online trading. MT4 was developed by MetaQuotes Software and released in 2005. Today, MT4 is the most widely-used trading platform in the world. Over 750 retail brokers support MT4 and millions of retail traders use the platform to trade forex and CFDs on commodities, indices, commodities and cryptocurrencies on the global financial market.

Best MetaTrader 4 forex brokers for traders in South Africa

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Founded 2006

Regulated ASIC, BVI, CBI, CySEC, FSA(JP), FSC, FSCA

Headquarters Ireland

Tradeable assets Currencies, commodities, indices, stocks, bonds, crypto, futures

Trading platform MT4, MT5, AvaOptions, AvaSocial, AvaTradeGo

Trading desk Market Maker

Minimum deposit $100

VISIT BROKER

Founded 2009

Regulated FSCA, FCA, ASIC, SCB

Headquarters South Africa

Tradeable assets Currencies, commodities, indices, stocks, bonds, crypto, futures

Trading platform MT4, CloudTrade

Trading desk STP

Minimum deposit $1 000

VISIT BROKER

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Founded 2012

Regulated FSCA, FSP

Headquarters South Africa

Tradeable assets Currencies, commodities, indices, stocks, crypto, futures

Trading platform MT4

Trading desk STP, ECN, Market Maker, NDD

Minimum deposit $250

VISIT BROKER

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Founded 2008

Regulated CySEC, FCA, FSA(SC), FSCA

Headquarters Cyprus

Tradeable assets Currencies, commodities, indices, stocks, crypto

Trading platform MT$, MT%

Trading desk Market Maker, NDD

Minimum deposit $10

VISIT BROKER

Graphical user interface, icon Description automatically generated with medium confidence

Founded 2009

Regulated CySEC, IFSC

Headquarters N/A

Tradeable assets Currencies, stocks

Trading platform MT4, MT5

Trading desk STP, ECN, NDD

Minimum deposit $1

VISIT BROKER

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Founded 1996

Regulated ASIC, FCA, IIROC, MFS, FIBO, BVIFSC, NFA and MAS.

Headquarters United States

Tradeable assets Currencies, commodities, indices, crypto

Trading platform MT4, OANDA fxTrade

Trading desk Dealing Desk (DD)

Minimum deposit $0

VISIT BROKER

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Founded 200

Regulated CySEC, FCA, FSCA, SCB

Headquarters United Kingdom

Tradeable assets Currencies, commodities, indices, stocks, futures

Trading platform cTrader, MT4, MT5, Proprietary

Trading desk No dealing desk (NDD)

Minimum deposit $100

VISIT BROKER

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Founded 2010

Regulated CySEC, DFSA, FCA, FSA(SC), FSCA

Headquarters Cyprus

Tradeable assets Currencies, commodities, indices, stocks, bonds, crypto, futures

Trading platform MT4, MT5

Trading desk DMA, ECN, STP

Minimum deposit $5

VISIT BROKER

Graphical user interface Description automatically generated with low confidence

Founded 2010

Regulated ASIC, BaFin, CySEC, DFSA, FCA, SCB

Headquarters Australia

Tradeable assets Currencies, commodities, indices, stocks, crypto, futures

Trading platform cTrader, MT4, MT5

Trading desk Bank, DMA, ECN, NDD, STP

Minimum deposit $150

VISIT BROKER

A red background with white text Description automatically generated with medium confidence

Founded 2014

Regulated CySEC, FCA, FSA(SC), FSCA, Labuan FSA

Headquarters United Kingdom

Tradeable assets Currencies, commodities, indices, bonds, futures

Trading platform MT4

Trading desk No Dealing Desk (NDD)

Minimum deposit $100

VISIT BROKER

FAQs : MT4

What is MT4?

MetaTrader 4 (MT4) is the most popular electronic trading platform in the world. The software application is used by online brokers and retail traders for speculative trading on the global financial markets. MT4 was developed by MetaQuotes Software and released in 2005.

More than 750 forex brokers offer MT4 as a primary trading platform for their clients to trade multiple assets, including forex and CFDs on commodities, cryptocurrencies, indices, energies, metals and futures.

Who uses MT4?

MT4 is used by online brokers and retail traders and investors to access multiple financial assets on the global financial markets. Retail traders cannot directly access exchanges to trade forex and CFDs. They have to trade through a broker on an electronic trading platform.

MT4’s server component is run by licensed online brokers and the software is used by clients to automate trading using algorithms that open and close trades. MT4 is used to deposit and withdraw funds, draw and monitor charts, review fundamental and technical analysis, and use analytical functions to open and close positions and set orders.

Why is MT4 the most popular trading platform?

MT4 was released with the new MQL4 programming language and quickly became popular because it offered users revolutionary tools for developing, testing and optimising trading robots. Today, MT4 is the gold standard of electronic trading platforms and is used by millions of traders around the world.

MT4 is a Microsoft Windows-based application that allows end-users to write trading scripts and robots for speculative trading. The MT4 software uses MQL4 scripting language that enables traders to develop Expert Advisors, customise indicators and write scripts. MT4 has a simple user interface and gives retail forex and CFDs traders access to advanced technical analysis and flexible trading systems.

Who owns MT4?

MT4 was developed by MetaQuotes Software. It is sold under license to online brokers. MetaQuotes is one of the leading developers of software applications for brokerages, banks and exchanges.

MetaQuotes Software released software for automated trading for the first time in 2000. MT4 is an iteration of the original software. MetaQuotes Software released MetaTrader 5 (MT5) in 2010.

Is MetaQuotes a broker?

No, MetaQuotes is not a broker. The company develops software for algorithmic trading and sells its electronic trading platforms to licensed online brokers. MetaTrader brokers offer the MT4 trading platform to their clients to access the global financial markets.

Is MetaTrader 4 safe to use?

Yes, MT4 is safe to use. The software application encrypts all your data on the trading platform and server and conceals your IP address while trading multiple financial instruments. Forex and CFDs trading itself is risky and is not suitable for all traders. Beginner forex traders must know that there is a high risk of losing a lot of money on forex trading if prices don’t move in the right direction.

How much does it cost to use MetaTrader 4?

MT4 is free to download through a reputable online broker that supports the software application. Licensed MT4 retail brokers pay an upfront fee for a full license and pay an annual fee for hosting, bridging and 24/5 support. Forex brokers absorb the cost of hosting MT4 and make money on the spreads.

You download MT4 for free from an online forex broker when you register for a demo or live account. You have the option of downloading a zip file with the MT4 platform from the MetaQuotes website free of charge, but the majority of retail traders use online brokers to trade forex.

Is MetaTrader 4 suitable for beginner traders in South Africa?

Yes, MT4 is suitable for beginner traders. It’s the best platform for beginner traders because it has a simple interface, an impressive amount of analytic functions. The MT4 trading platform offers beginner traders everything they need for automated forex and CFDs trading, including copy trading functions and Expert Advisors.

Most forex brokers offer MT4 as their primary trading platform and provide a wealth of research tools and educational resources that are very useful for beginner traders. The MT4 trading platform offers beginner traders a fully functional demo account that they can use to hone their forex trading skills with no risk of losing real money.

Is MetaTrader 4 suitable for advanced traders in South Africa?

Yes, MT4 is suitable for advanced traders. The software application offers advanced charting capabilities and technical analysis as well as built-in indicators and graphical tools. MT4 supports automated trading with MetaQuote’s proprietary MQL4 language that advanced traders use to construct custom indicators.

MT4 is still very popular among advanced forex traders, but they do have the option of the MT5 trading platform that has additional applications not found on MT4.

How do you use MetaTrader 4?

MT4 has a simple interface that is easy to set up and use. Here is a simple guide on how you access MT4 and use the platform for forex trading.

  1. Open a demo or live account with a reputable forex broker
  2. Download the MetaTrader 4 trading platform
  3. Selecting Tools and New Order when you are ready to start trading
  4. Select an order option; instant execution or pending order
  5. Monitor and close your positions and pending orders via the MT4 terminal
  6. Modify stops and limits on open positions
  7. Use a wide range of tools to customise your charts; draw on charts, add indicators, change timeframes, set up price alerts, view your trade history and download trade reports

What analytical functions does MetaTrader 4 offer?

Analytical functions are one of the strongest points of MT4. Online quotes and interactive charts with 9 periods allow you to examine quotes in multiple ways and respond quickly to price changes. Automated trading is simplified by interactive charts with 9 timeframes, 23 analytical objects and 30 built-in technical indicators.

Can I use MetaTrader 4 for copy trading?

Yes, you can use MT4 for copy trading. Trading Signals in MT4 allow you to automatically copy deals performed by other traders in real-time. Many advanced traders provide their forex trades for retail traders to access either for free or for a reasonable fee, becoming signal providers.

Does MetaTrader 4 have a mobile application?

Yes, MT4 has a mobile application for iPhone/iPad and Android devices. The MT4 mobile app allows you to trade forex and CFDs in real-time from anywhere. You can trade multiple assets and manage your trading account 24-hours a day even while you are on holiday.

What support does MT4 offer if I have a problem?

Your first port of call if you have a problem with the MT4 trading platform is your online broker. Reputable online brokers offer customer support 24-hours a day/5-days a week via Live Chat. You can also get hold of your broker via email or telephone.

MetaQuotes Software publishes online PDFs and video tutorials that are helpful when you start using the MT4 trading platform. You’ll find information on every topic. Another place to go for help is online trading communities.

You may need to install updated MT4 software if you are experiencing glitches or problems with the software application freezing or not starting.

FOREX TRADING AFRICA DISCLAIMER

Forex and CFDs are complex instruments. Trading these instruments involves a high risk of losing money rapidly due to leverage and margin. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.

Forex Trading Africa annually reviews brokers, trading platforms and financial instruments. The content is research-based and provides information to help traders and investors make better decisions when trading multiple assets on the global financial markets. The information is provided to improve your knowledge and expertise in financial trading and is not a substitute for professional advice from expert traders.

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