Is MetaTrader 4 a Broker?

Is MT4 a broker?

No, MetaTrader 4 (MT4) is not a broker. MT4 is a trading platform—software you install on your computer or phone to place trades. Your broker is a separate company that holds your money and executes your orders. MT4 is just the interface you use to interact with your broker.

Why do people think MT4 is a broker?

MT4 appears in almost every trading screenshot and YouTube tutorial. It's the most widely used trading platform in forex, so when beginners see it everywhere, they assume MT4 itself is handling their trades.

Here's a simple analogy: think of the financial markets like the internet. Your broker is like an ISP (Internet Service Provider)—they charge a fee to connect you. MT4 is like your router—the device that lets you actually get online and do things. You need both, but they're not the same thing.

What is MetaTrader 4?

MetaTrader 4 is trading software made by a company called MetaQuotes. It was released in 2005 and quickly became the standard platform for forex trading.

MT4 lets you:

• View live price charts
• Place buy and sell orders
• Set stop losses and take profits
• Run automated trading bots (called Expert Advisors or EAs)
• Backtest trading strategies using historical data

You can install MT4 on Windows, Mac, Android, iPhone, or Linux. Windows works best—the Mac version has improved but still feels sluggish in comparison.

How MT4 and brokers work together

When you open a trading account, your broker gives you login credentials for MT4. You download MT4, enter those credentials, and your account balance appears in the platform.

Your broker handles the backend: holding your funds, executing orders, and processing deposits and withdrawals. MT4 is just the front-end software you use to see prices and click buttons.

This is why you can use the same MT4 platform with completely different brokers. Switch brokers, get new login credentials, and MT4 works exactly the same way.

What is an "MT4 broker"?

When you see brokers advertised as "MT4 brokers," it means they offer MetaTrader 4 as their trading platform. Many brokers don't build their own software—they license MT4 from MetaQuotes instead.

A MetaQuotes license reportedly costs around [$100,000](https://www.forexfactory.com/th read/454258-brokers-and-metatrader-license-fees), depending on user numbers and features. Brokers pay this fee to offer MT4 to their clients.

Some brokers also offer alternative platforms like cTrader, MetaTrader 5, or their own proprietary software.

Are all MT4 versions the same?

The core MT4 platform is identical across all brokers. However, brokers can add plugins and extras:

• Autochartist – pattern recognition tools
• MT4 Supreme Edition – additional indicators and features
• Custom EAs – broker-specific trading bots

When a broker wins "best trading platform" while using MT4, the award is really about their execution speed, spreads, or bundled extras—not MT4 itself.

Is MT4 still available?

MetaQuotes stopped issuing new MT4 licenses to brokers. They want everyone using MetaTrader 5 (MT5) instead.

The official MetaQuotes website now redirects all MT4 download links to MT5. If you click "Download MT4" on metatrader4.com, you'll get MT5.

Existing brokers with MT4 licenses can still offer it, which is why experienced traders specifically look for brokers that haven't switched to MT5-only.

Can I still download MT4?

Yes, through two methods:

1. From your broker – Most brokers that support MT4 have download links on their website
2. Archived version – [This archived link] has the original installer (use at your own risk)

If you're new to trading, MT5 does everything MT4 does and is fully supported. The main reason traders stick with MT4 is familiarity and existing EAs that were coded in MQL4 (MT4's programming language) rather than MQL5.

MT4 vs broker: quick comparison

Summary

MT4 is not a broker—it's trading software. You need both a broker (to hold your money and execute trades) and a platform like MT4 (to see prices and place orders). Most forex brokers offer MT4, which is why the two often get confused.