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OctaFX is one of the best-established MT4-compatible partners. Most users chose to get started with MetaTrader 4 by creating a demo account. This is a good option because it enables you to test trading strategies using virtual funds and evaluate the MetaTrader ecosystem. To open a demo account, all you need to do is head over to the MetaTrader 4 website and download the software to your macOS, PC, Linux, iOS, or Android device. After installation, you ll be automatically set up with a demo account.
Its MT4 Micro account offers floating trades from 0. 4 pips, no commission, and access to 28 currency pairs. Meanwhile, IG Group, the UK s largest forex broker, has a MetaTrader 4 live account with minimum spreads of 0. 6 plus support for 27 commodity markets. Like many of the best forex trading apps, MetaTrader 4 allows you to perform trades through instant execution, by request, or according to market triggers.
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The only downside of the program worth mentioning is that its execution speed isn t as fast we d like, making MT4 a poor choice for high-frequency traders. The closest competitor to MetaTrader 4 is the latest trading system released by MetaQuotes, MetaTrader 5. MT4 is tailored to forex traders while MetaTrader 5 was created with CFD, futures, and stock traders in mind.
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