Best MT4 Brokers

Published on 29/09/2023

We've reviewed the best MT4 brokers in Australia, and highlighted those that accept all Expert Advisors and trading styles. Visit their website to download MetaTrader 4 and get started.


4.7 / 5 AvaTrade
77.82% of retail CFD accounts lose money

AvaTrade.com is an award-winning online broker, in business since 2006. Trade CFDs on one of the widest possible range of instruments and asset classes, from Forex to ETFs and government bonds.

  • Likes
  • 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.
  • Dislikes
  • You cannot trade on raw spreads.
  • Quarterly and annual inactivity fees.
Our take on AvaTrade

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.

Read review ▷

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.

Conclusion

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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Author

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.

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