Go to Pepperstone
|Very low spreads on over 1,200 instruments. 24/7 support, fast execution and no requotes.|
Pepperstone offers the MetaTrader 4 platform for desktop (Mac and Windows), WebTrader and MT4 application for iOS and Android devices.Demo Account: Yes
Minimum Deposit: 200 €/$
Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader, TradingView.
Execution: STP / NDD
Regulation: FCA, ASIC, CySEC, BaFin, DFSA, CMA and SCB
Web Page: https://www.pepperstone.com
Go to XM Group
|Bonus of $30 without deposit and bonuses of up to $5,000 per deposit. Trade Forex with ultra-low spreads.(*) Clients registered with XM Group's EU-regulated entity do not have access to the bonds.|
XM broker offers MetaTrader 4 for PC and Mac, MT4 Multiterminal (to manage multiple accounts at the same time), WebTrader and MT4 app for Android, iPhone or iPad.Demo Account: Yes, unlimited
Minimum Deposit: 5 $
Trading Platforms: MetaTrader 4, MetaTrader 5.
Execution: Market Maker
Regulation: CySEC, FSC and ASIC
Web Page: https://www.xm.com
Go to Exness
|Low spreads as low as 0.0 pips. No swaps on most instruments. Instant withdrawals.|
With Exness you can use the MetaTrader 4 platform for PC or mobile devices (smartphones and tablets), WebTrader and MT4 Multiterminal.Demo Account: Yes
Minimum Deposit: 10 $
Trading Platforms: MetaTrader 4, MetaTrader 5.
Execution: Market Maker / ECN
Regulation: FCA, CySEC, FSCA, FSC, CBCS, FSA and SDL
Web Page: https://www.exness.com
Go to AvaTrade
|One of the most regulated brokers worldwide (in 9 different jurisdictions).|
AvaTrade provides you with MetaTrader 4 (PC, Mac, iOS, Android and web-based) and the Guardian Angel risk management tool for MT4.Demo Account: Yes
Minimum Deposit: 100 €/$
Trading Platforms: WebTrader, MetaTrader 4, MetaTrader 5, iOS App, Android App.
Execution: Market Maker
Regulation: Central Bank of Ireland, ASIC, BVI, FSCA and FSA
Web Page: www.avatrade.com
Go to IC Markets
|True ECN account with ultra-low spreads and ultra-fast execution designed for scalping and automated trading systems.|
IC Markets offers MetaTrader 4 for Windows or Mac, the MT4 app for Android, iPad, iPhone and the web version which requires no download or installation.Demo Account: Yes
Minimum Deposit: 200 $
Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader.
Regulation: ASIC, CySEC and FSA
Web Page: https://www.icmarkets.com
Go to Eightcap
Eightcap gives you access to the MetaTrader 4 desktop platform and the MT4 for Android and MT4 for iOS versions.Demo Account: Yes
Minimum Deposit: 100 $
Trading Platforms: MetaTrader 4, MetaTrader 5, TradingView.
Execution: STP / ECN
Regulation: ASIC and SCB
Web Page: https://www.eightcap.com
Go to Axi
Axi broker offers MetaTrader 4 for PC, Mac, Android, iPhone and iPad, MT4 WebTrader and MT4 NexGen (advanced order management, market sentiment,...).Demo Account: Yes
Minimum Deposit: 0 €/$
Trading Platforms: MetaTrader 4.
Execution: STP / ECN
Regulation: FCA, ASIC, FSA and DFSA
Web Page: https://www.axi.com
Go to RoboForex
|$30 welcome bonus with a minimum deposit of $10 and bonuses up to $50,000 per deposit.|
With RoboForex you have access to MetaTrader 4 for desktop (Windows and Mac), app for mobile phones and tablets and MT4 WebTrader.Demo Account: Yes, unlimited
Minimum Deposit: 0 €/$
Trading Platforms: WebTrader, MetaTrader 4, MetaTrader 5, cTrader, iOS App, Android App.
Execution: STP / ECN
Web Page: https://www.roboforex.com
Go to FP Markets
With FP Markets you have access to MetaTrader 4 for Windows, Mac, WebTrader and mobile and tablet versions (iOS or Android). Also Traders Toolbox (10 apps for MT4).Demo Account: Yes
Minimum Deposit: 100 €/$
Trading Platforms: MetaTrader 4, MetaTrader 5, IRESS.
Regulation: ASIC and CySEC
Web Page: https://www.fpmarkets.com
Go to OANDA
|Deposit bonus up to $5,000.|
With OANDA you can use MetaTrader 4 on any device and offers a premium upgrade that adds 28 additional tools and indicators.Demo Account: Yes, unlimited
Minimum Deposit: 0 $
Trading Platforms: MetaTrader 4, MetaTrader 5.
Execution: Market Maker
Regulation: FCA, ASIC, NFA, IIROC, MFSA, BVI FSC
Web Page: https://www.oanda.com
Go to OctaFX
|50% bonus on every deposit.|
OctaFX offers the MT4 web platform and downloadable versions for PCs and smartphones or tablets (iOS and Android).Demo Account: Yes, unlimited
Minimum Deposit: 5 €/$
Trading Platforms: MetaTrader 4, MetaTrader 5.
Execution: STP / ECN
Web Page: https://www.octafx.com
What is a MetaTrader 4 Broker?
A broker with MetaTrader 4 is an intermediary that executes the purchase or sale of financial instruments that its clients request and also offers MetaTrader 4 as a trading platform for this purpose.
Until not too long ago, any private investor could only operate in the financial markets through banks or large financial companies and at quite high costs. I had hardly any tools to follow the market’s evolution and the buy and sell orders had to be requested generally by phone. This has changed considerably with the rise of new technologies and the advance of the Internet and in recent years online brokers have emerged, such as Forex and CFD (contracts for difference) brokers who have democratized investment and allow anyone from anywhere to trade a multitude of financial instruments such as currencies pairs, crypto-currencies, shares, stock indices, ETFs, financial options, commodities, oil, gas, gold, silver,… and at much more affordable costs.
For this purpose, the broker is usually responsible for offering its clients one or more trading platforms, such as MetaTrader 4, free of charge, so that they can carry out their operations in a completely autonomous manner and with all the necessary tools to make their investment decisions and be able to open, follow the evolution, edit and close their operations.
What is MetaTrader 4?
Metatrader 4 is the most widely used trading and investment platform in the sector. It is a free tool, developed by MetaQuotes Software Corporation, which allows us to trade the financial markets through a connection with our Forex or CFD broker.
With MetaTrader 4 you have a complete set of configurable charts in a single application for analysing quotes, numerous technical analysis indicators and the possibility of incorporating and programming automatic trading systems; this is perhaps the most appreciated by traders around the world.
There are currently two versions of MetaTrader: MetaTrader 4 and MetaTrader 5. The most widely used version to date is still Metatrader 4 (also called MT4). There are many online brokers who have acquired the license for this platform and offer it to their clients with their integrated trading conditions. Therefore, using a broker with Metatrader 4 you will be able to access all the advantages of this tool and make your trading decisions without any additional cost. With Metatrader 4 you can invest in the currency market (Forex) and in all the investment instruments that your online broker offers you (shares, raw materials, indices, etc.).
Although MetaTrader 5 incorporates certain improvements over the features of MetaTrader 4, the indicators or EAs (Expert Advisors) developed for MetaTrader 4 cannot be used in MetaTrader 5 as the programming languages of both trading platforms are not compatible. That is why MT4 still maintains a higher usage rate. Such is the popularity of MetaTrader 4 that it has not managed to overtake the later version (List of MetaTrader 5 Brokers).
Metatrader 4 is easy to use if you are a beginner, but at the same time it is a very complete and scalable tool, which allows you to develop all the performance if you are an experienced trader.
As we will see in depth a little later, MetaTrader 4 also allows you to implement automatic trading systems (known as EAs) in a simple way. These programs are designed to send signals or take trading positions automatically, according to a series of criteria that you have pre-established and with a strategy that you have been able to verify by doing backtesting. It is also a perfect tool for those who manage several trading accounts, thanks to its Multiterminal version. It is also available in a version for mobile devices, an application that allows you to trade with MetaTrader 4 from your Smarphone or Tablet.
Advantages of the MetaTrader 4 trading platform
Metatrader 4 is a trading platform offered free of charge by many Forex and CFD brokers.
It is the most widely used trading platform worldwide. Just look at the interest and searches for information on MetaTrader 4 coming from countries as diverse as South Africa, Malaysia, United Kingdom, Poland, Nigeria, India, Kenya, Cyprus, Singapore, Lebanon, Indonesia, United Arab Emirates like Dubai or Abu Dhabi, China, Kuwait, Thailand, Qatar, Vietnam, Australia, Philippines, Saudi Arabia, Japan, Taiwan or New Zealand, among others.
The user interface is attractive and effective. It allows us to easily organize all our workspace and the management elements of our trading business.
It is flexible. The Metatrader 4 trading platform offers multiple types of configuration according to our preferences. Changes in our platform customization can be saved, making MetaTrader 4 fully adaptable to any trader.
It is available in many languages: English, Spanish, Arabic, German, French, Russian, Arabic, Japanese, Polish, Simplified Chinese, Traditional Chinese, Malay, Turkish, Indonesian, Korean,…
Metatrader 4 is an easy to use yet very powerful trading platform that will allow you to start trading in a comfortable way and at the same time get more out of it as you get more knowledge or if you are already an experienced trader.
It offers a great graphic capacity and an extensive catalogue of indicators for technical analysis. It allows a very complete configuration of the graphs to adapt them to our needs.
You have the possibility to modify, through a quite simple programming language called MetaQuotes Language, any indicator or to program your own indicators according to your investment strategy and test them first in their test tool.
Metatrader 4 is compatible with many investment instruments: currencies, crypto-currencies, commodities, shares, stock indices,..
Metatrader 4 offers almost immediate execution of buy or sell orders, the latency is very low and helps to ensure that there are no changes in the quotations that could harm the investor. Some brokers even offer the possibility of installing the platform on a VPS (Virtual Private Server) server that is hosted very close to the broker’s own server, thus reducing latency as much as possible and guaranteeing maximum service availability and avoiding cuts due to a bad Internet connection, .
In Metatrader 4 you can program future orders for example to open a position when a certain investment instrument reaches a value you have previously determined.
It is a platform suitable for all types of trading strategies such as scalping, hedging, day trading, swing trading,…
Metatrader 4 is compatible with automatic trading systems (known as EAs). These are computer programs that are installed on the platform and automatically execute purchase or sale operations according to a series of indicated criteria or they will only be responsible for issuing purchase or sale signals based on a series of parameters and it is the user who can decide whether to execute the corresponding operations.
With a broker with Metatrader 4 the investor has everything he needs to invest. He can analyse the charts, know the trading conditions, make decisions and execute his trades from a single point instead of having to use several applications.
Most of the best online brokers give the possibility to execute Metatrader 4 with a real account or with a demo account so you can get familiar with this trading platform easily without putting your money at risk.
What versions of MetaTrader 4 do we have depending on the device we want to use?
When working with a broker with MetaTrader 4 you can use this platform for free on a desktop, laptop or any mobile device (smartphones, tablets,…). We can also trade the financial markets with this platform in online mode in its Webtrader version, through a web browser, without the need to download and install the platform on our device.
The various options for using MetaTrader 4 are as follows:
MetaTrader 4 for PC: This is the version for computer terminals with Windows operating system. It requires downloading and installation on the computer.
MetaTrader 4 for Mac: This is the downloadable version of the platform but with the software adapted to run on Mac computers.
MetaTrader 4 WebTrader: Full version that does not require downloading It is operated online through any web browser (Chrome, Firefox, Internet Explorer, Opera, Safari,…) It is also the right choice for users with Linux operating system. In addition to MetaTrader, there are other webtrader platforms that offer good price charts and a wide range of indicators for technical analysis, such as TradingView. In this link you can see a list of brokers with the TradingView platform.
MetaTrader 4 for iPhone / iPad: This is an app of the MetaTrader 4 platform specifically designed for iPhone smartphones or iPad tablets with iOS operating system.
MetaTrader 4 for Android: This is an app of the MetaTrader 4 platform in this case designed for mobile devices using the Android operating system.
How to download MetaTrader 4?
The first step is to open a trading account with a broker with MetaTrader 4, i.e. offering this platform to your clients. The broker will offer us the download of MetaTrader 4 from their website or client area and we also have an associated trading account to trade directly, along with a number of other advantages.
Among the mentioned advantages we can highlight the possibility of using a demo account. This is an account with a certain virtual capital to be used as a trading simulator. It is useful to gain experience in the markets before making operations in real mode putting your money at risk. It is also a good tool to become completely familiar with MetaTrader 4 so that we can learn to operate this trading platform with absolute confidence.
Demo accounts are offered by brokers only. Therefore it will be necessary to download MetaTrader 4 through one of them in order to enjoy this service. Moreover, once you have acquired a certain level of skill, both in the use of MetaTrader 4 and in the operation of the financial markets themselves, having the platform associated with a broker makes the process of trading in real mode much easier. It would only be a matter of verifying the account by providing certain documentation that we are required to do for security and to comply with the regulations imposed by the financial supervisory bodies that control the duly regulated online brokers. We can then make an initial deposit of funds and start investing in the markets. It is as simple as that.
Another advantage is that with a broker with MetaTrader 4 we can follow the price evolution of financial instruments in real time. Not to mention that we can enjoy all the additional services that the broker can offer us (economic calendar, training to learn how to invest, market analysis,…)
First steps with the MetaTrader 4 trading platform
Let’s see how we can open and close positions in the popular trading platform Metatrader 4. This platform is a perfect all-in-one tool: it offers the investor powerful configurable charts, numerous indicators for technical analysis and the possibility to open and close positions directly from the charts or from the quotes window.
Once we are registered in the broker with MetaTrader 4 that we have chosen, we must download and install Metatrader 4. We must log in with our user and password and we have everything ready to start trading.
How can I see the investment instruments available in Metatrader 4?
On the upper left we have the “Market Watch” window which contains the available investment instruments we can trade. If this section is disabled we can load it by pressing CTRL + M or through the top menu “View” >> “Market Watch”.
By default, only the main currency pairs available for investing in Forex with Metatrader 4 are displayed. To select more instruments offered by the online broker (raw materials, shares, indices,…) we place ourselves at any point within this “Market Watch” window and we click the right mouse button and select the “Symbols” option.
We can browse through the available categories and see that investment instruments appear in two different ways:
– Those marked in yellow are the instruments currently visible in the “Market Watch” window of Metatrader 4.
– Those in grey are investment instruments that are available but not visible in the “Market Watch” window of Metatrader 4. We can activate them by clicking on them and clicking on the “Show” button or by double-clicking.
How do I open a position in Metatrader 4?
To open a position in Metatrader 4 the easiest way is to select the instrument you wish to trade in in the “Market Watch” window and either double click on it or select it and right click on it to mark “New Order”. A new window will open with the following fields:
– Sell Price and Buy Price: When trading with a Forex Broker or CFD broker, if we believe the price will rise we can open a buy position (called going long) and then close the position by selling. Conversely, if we believe the price will go down we can open a sell position (called going short) and subsequently close the position with a buy. We are therefore shown one price to open a buy position and a different price for a sell position. The difference between the two is called the spread and is the commission that the broker gets for executing the operation. More info: Comparative table of brokers with lowest spreads.
– Volume: You must select how many lots of the chosen instrument you wish to purchase. Each instrument has a predetermined lot size. You can find out the lot size on your broker’s website and see the conditions for trading, the leverage available for each instrument,…
For example, a leverage of 30:1 for every $300 invested will only require $10 in guarantees. Therefore with a small amount deposited you can get the benefits of trading with a much higher amount, in this case 30 times higher.
– Stop Loss: (Recommended) This tool allows us to protect ourselves against losses. With the “Stop Loss” activated and configured in Metatrader 4, the online broker will automatically close the position you have requested if the value of the instrument reaches that stop loss and therefore we will assume only limited losses. When defining the value of the stop loss, you must take into account that if you set a value that is too close to the current price of the instrument, any small fluctuation will cause the position to close automatically when it could really generate profits in subsequent fluctuations. Therefore, you must set it at a sufficient distance to assume a loss if the price does not advance in your favour.
– Take Profit: (Optional) This tool allows us to ensure profits if the price reaches the set value. With the “Take Profit” activated and configured in Metatrader 4, the online broker will automatically close the position you have requested if the value of the instrument reaches that take profit and therefore we will collect the profits that we have pre-set, closing the position without waiting for any subsequent fluctuations that may occur against us.
– Comment: (Optional) Let us enter a free text to comment on the position.
– Type: Instant Execution is the default option and will make the position open instantly by clicking on “Buy” or “Sell”. The alternative is the “Pending Order” type which will allow us to postpone the opening of the position until the condition we set is met.
How do you check the current status of a position in Metatrader 4?
At the bottom of Metatrader 4 there is a window called “Terminal”. If it is disabled, we can load it by pressing CTRL + T or through the upper menu “View” >> “Terminal”. It offers a series of tabs and the first one called “Operations” is where we can see the evolution of the open operations.
The fields we are interested in seeing for each open order are the time of opening, the type (buy or sell position), the opening price, the stop loss and take profit that we have defined, the current price and in the last column the current profit volume. If it is in loss this last value will be in negative and if it has entered profit it will be in positive. You will see how part of the data is changing in real time.
Below all open positions we have the balance of our account with the online broker: the current equity, the margin that identifies the sum of the guarantees of all the open positions and the free margin that is the one we have available at the moment.
How do I close a position in Metatrader 4?
To close a position in Metatrader 4 go to the “Trading” tab in the “Terminal” window and double click on the position you wish to close. A yellow button will be displayed allowing us to close the position at the current price.
After closing the position we can see its details and the history of positions we have previously closed in the “Account History” tab of the “Terminal” window. We will also have information about the accumulated profit/loss balance.
Automatic Trading with MetaTrader 4
As already mentioned, Metatrader is a trading platform of the company MetaQuotes. It is the most widely used trading platform in the world, especially the Metatrader 4 version which is also offered by the largest number of online Forex and CFD brokers. There are many reasons why Metatrader is the most widely used as it is very powerful and intuitive, includes a great deal of useful information for the trader such as charts of all kinds, technical analysis indicators,… Probably the main reason for the success of this platform is the ability to execute automatic trading without human intervention. We can also perform backtests on historical data from our scripts so that we can optimize and debug them.
To use Metatrader’s automatic systems, Expert Advisors (EAS) are used. These are small computer programs (scripts) in which the set of trading rules are defined. These files are written in Metatrader’s own language which is MQL4 (for Metatrader 4) which is a C based language, so to program an Expert Advisor (EA) in principle we need to have some basic knowledge of C programming and then adapt to the peculiarities of MQL4.
Expert Advisors (EA) either created by us or by other traders consist of two files: One is the file with extension MQ4 which is the source code and the other with extension EX4 which is the executable program. This is at least because if the Expert Advisor uses a higher indicator (which is quite common) it will have two other files (MQ4 and EX4) corresponding to the indicator. The MQL4 language is also used to program different functions for Metatrader besides the Expert Advisors.
To install our EA we must copy the two files (MQ4 and EX4) to the Metatrader installation folder (for example C:\Metatrader_Folder\MQL4\Experts and the other files of the indicators (MQ4 and EX4) to the folder C:\Metatrader_Folder\MQL4\Indicators. We must take into account that if the EA contains any script we must copy it to C:\MQL4\Scripts.
As soon as we restart Metatrader we will be able to see our EA in the Navigator panel (explorer). If it is in grey it is because only the executable file is loaded and we cannot modify the code just by executing it. If it is in colour we will be able to modify the source code and execute it.
To execute it, all you have to do is drag it over the chart and a smiley face will appear in the corner if your broker accepts Expert Advisors or a sad face if he does not. Once our EA is accepted we can configure the input parameters which are typically Stop Loss, Take Profit or Trailing Stop to suit our needs.
To execute an EA we need our Broker with Metatrader 4 to allow the execution of Expert Advisors. The majority of brokers with MetaTrader 4 will allow it, although there may be some who do not or refuse it on basic accounts aimed at beginner traders while accepting them on more advanced trading accounts aimed at professional or more experienced traders.
How to choose a broker with MetaTrader 4?
One of the key factors in choosing a broker with MetaTrader 4 is to ensure that it is properly regulated by a supervisory body.
Supervisory bodies are public entities that ensure compliance with financial regulations and adequate investor protection. When a broker decides to offer its financial intermediation services legally, it must obtain a license granted by the supervisor of the country in which it is based (for example in the United Kingdom the FCA, in Australia the ASIC,…)
Choosing a regulated broker is synonymous with guaranteeing the security of our funds and a proper relationship between financial intermediary and client. In an unorganised market, such as the Forex or CFD market, this becomes essential.
2- Minimum deposit
One of the issues you should consider is whether the broker with Metatrader 4 requires a minimum deposit to open a trading account and start trading the financial instruments it provides.
In most cases, there is either no taxation or very low taxation (from USD 100 or even less).
Brokers with MetaTrader 4 do not usually charge for using the trading platform. They obtain their fees through the commissions they charge their clients for the services provided in their trading. Therefore, if they do not trade they do not charge them anything (except for some who apply commissions for inactivity if they do not perform any trading after long periods of time).
The most important commission you can find is the one related to the purchase and sale.
Fees for transactions may depend on the financial instrument in which you invest. We will have to look at what the specific cost of trading this asset is.
There are several ways of applying the fee per operation:
Fixed fee: this is a fixed amount to be charged for each purchase or sales order executed.
Commission in the form of a percentage: this is similar to the previous one, except that, instead of assuming a fixed amount, the amount is established as a percentage applied to the volume of the operation (the money invested).
Fixed Spread: This is the most common form of commission for trading CFDs on oil that we can find. The broker sets two prices, one for buying the CFD (Ask) and one for selling it (Bid), both of which have a small difference (a spread). This difference is always the same, even if the prices move. The buy price will always be slightly higher than the sell price. The trader is usually charged this spread when opening a position and its amount will depend on the volume of the position.
Variable Spread: Similarly, the broker with MetaTrader 4 can apply a commission in the form of a spread, but the difference between the buy and sell price of the asset may vary depending on liquidity and market conditions. The variable spread, under normal circumstances, is usually lower. However, in the event of economic news or other times of high volatility, it can increase and make the cost of your trading operation more expensive.
In addition to the trading commission, we usually find the Swap commission (or night premium) on CFDs. This is another trading commission and represents the financial costs of the trading position.
The Swap Commission has its reasons for using financial leverage. The cash from the oil investment is deposited by the broker (we leave a percentage of it as margin). This borrowed money is subject to a small daily interest. The amount of this fee is therefore also dependent on the size of the trading position.
4- Type of brokers
Within the brokers with MetaTrader 4 we can find two main types according to their way of executing their clients’ orders:
Brokers Dealing Desk that have their own trading desk and that usually act as a counterpart to the client’s operations. They are also called Markets Makers because they themselves provide us with the market, giving us the corresponding counterpart to our operations. If we buy, on many occasions it is the broker who sells to us and if we sell it is the broker who buys from us. This guarantees maximum liquidity when trading but can lead to possible conflicts of interest between the broker and its clients. That is why it is important to choose a serious, professional, transparent and properly regulated broker.
Non-dealing Desk Brokers who do not have their own trading desk. They only act as intermediaries transmitting client orders to the market. They do not act as counterparties to transactions and therefore target clients who trade at high frequency or higher volumes. They usually have higher deposit requirements and do not usually offer welcome promotions such as deposit bonuses, no deposit bonuses,… These include ECN (Electronic Communication Network) Brokers and STP (Straight Through Processing) Brokers. More Info: Comparative Table of ECN/STP Brokers.
There are also brokers with MetaTrader 4 who, due to their execution models, could be considered as hybrids since they are market makers and ECN/STP at the same time. They offer some trading accounts (the basic accounts that are aimed at beginner traders) in which they operate as market makers and other more advanced accounts (aimed at experienced or professional traders) in which they act only as intermediaries and send the operations to the market (to their liquidity providers which are usually banks and institutions such as Deutsche Bank, Barclays, Bank of America, JP Morgan, HSBC,CitiBank,…)
5- Customer service
The customer service provided is another essential factor to bear in mind when choosing a broker with MetaTrader 4. It is natural that doubts arise when trading in aspects related to the platform, orders, commissions,… and we must resolve these issues quickly and efficiently.
In short, the broker must support us, because trading is a serious business and not a hobby. Communications must be fluent and for this it is necessary to enable several contact channels (live online chat, email, telephone, etc.).
Opening hours and having staff who speak our language are also important. Some Forex and CFD brokers provide a 24/7 service, others directly provide an account manager (a more personal and direct contact).
6- Demo account
In order to complete our analysis for choosing an online broker with MetaTrader 4, you should assess whether it provides a demo account service.
A demo account is a simulator. It works exactly as if it were a trading account on which we can trade oil, only the available capital in the account is not real and therefore the results of the positions are not real either.
A demo account is tremendously useful for solving questions about how to trade online, because it allows you to gain experience, design strategies, monitor the market, test the functions of the trading platform and the broker’s services.
Ideally, the broker will provide a demo account free of charge. Most brokers with MetaTrader 4 meet this requirement.
Which are the best brokers with MetaTrader 4?
After having tested and analyzed many online brokers, those in the table above are the ones we consider most recommended and that offer Metatrader 4 as a trading platform to their clients. In the comparison you can see the fundamental characteristics of each company and locate the most suitable for your profile as a trader.