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MetaTrader 4 Review
The long-dominant forex trading platform (by MetaQuotes), offered through many brokers. Famous for Expert Advisors (automated trading).
Best for
- Forex traders
- Automated trading (EAs)
- Custom-indicator users
Not best for
- You want a modern UI
- You trade equities primarily
- You want built-in stock research
Our verdict & scoring
MetaTrader 4 (MT4) is the platform that defined retail forex. It's provided by brokers rather than sold directly, and is beloved for its Expert Advisor (EA) automated-trading ecosystem and huge library of custom indicators. It's dated compared with newer platforms but remains ubiquitous for forex.
Scores are based on our review methodology. Affiliate relationships do not buy higher ratings.
Pros
- Ubiquitous forex platform
- Powerful EA automation
- Huge indicator ecosystem
Cons
- Dated interface
- Forex/CFD-centric
- No built-in equity research
Fees & hidden costs explained
Free platform; costs come from the broker you use it with (spreads/commissions).
Safety, regulation & availability
MT4 is trading-terminal software, not a broker. Regulation and account protection depend entirely on the broker you connect it to.
Account protection: Not a broker — holds no client funds; protections depend on the connected broker.
Available to retail traders in:
Verify this platform yourself:
Official sources
Risk warning: Trading stocks, options, futures, forex, crypto, CFDs and funded accounts involves risk. You can lose money. This website is educational only and does not provide financial, investment, tax or legal advice.
Leverage, volatility, fees, spreads, liquidity and platform rules can increase losses.
Affiliate disclosure: We may earn a commission when you click some links on our site. This does not cost you extra. Our comparisons are educational and transparent, and our rankings are not affected by commissions.