Why Do People Think MetaTrader 4 Is a Broker?

Understandably, people might think MetaTrader 4 is a broker as it is one of the world’s most popular trading platforms, and it is used in many trading screenshots online and within YouTube videos.

An analogy to help people understand the relevance of a trading platform is how you might connect to the Internet:

An ISP (Internet Service Provider) is like a “Broker”; for a fee or commission, they will enable you to connect to the Internet. MetaTrader 4 is like your modem (router), which allows you to connect to and use the Internet, i.e., trade in the financial markets.

MetaTrader a Trading Platform

MetaTrader 4, commonly referred to as MT4, is a trading platform that can be installed on Windows, Mac, Android, iPhone, and Linux, with native versions of each.

MT4 is best used on Windows. We have experienced a few issues with the Mac version and found it is less responsive, so we recommend using Windows to use MT4, however, the Macintosh version is improving each year.

When you become more experienced at trading or if you are running trading scripts and trading bots (in MetaTrader, these are known as Expert Advisors, or "EAs") it’s highly recommended that you use a VPS (Virtual Private Server), which will allow you to run the MetaTrader 4 platform 24/7 allowing you to turn your personal computer off and keep MT4 trading. A VPS is often a much faster connection to The Internet, allowing you to make trades at the fastest possible speeds via MT4.

A “web trader” version of MT4 allows you to use MetaTrader within most web browsers. Most brokers offer this version of MT4, but it has limited features.

You log into MT4 using the username and password provided by your broker. You commonly use your broker’s backend system to fund (and withdraw) funds from your account.

Once you log in to MT4, your broker account will make the funds available.

Different Versions of MetaTrader 4

Brokers provide MetaTrader 4 and other third-party trading platforms, such as cTrader or MetaTrader 5, a newer but less popular version of MetaTrader made by MetaQuotes.

It’s essential to note MetaTrader 4 is not exclusive, although many brokers’ marketing material would suggest it is; this is just a marketing spin.

Awards for “best trading platform” when a broker’s primary trading platform is MT4 are usually based on what plug-ins and tools are offered or the broker’s latency (speed). Generally, if your connection to the markets is quick, an “award” for the best trading platform should not sway your decision when choosing a broker, although they are often a good point of reference.

As mentioned, brokers may offer their customers different plug-ins and add-ons for MT4, like Autochartist or “MT4 Supreme Edition,” but essentially, it’s just MT4 with add-ons. MT4 is, essentially, the same across all brokers, or can be customised using plug-ins and EAs to operate the same.

MetaTrader 4 Brokers - What Does This Mean?

Some brokers do not use proprietary software and rely entirely on third-party trading platforms like MetaTrader to connect their clients to the markets. These brokers are commonly called “MetaTrader Brokers. Brokers Pay A License For MetaTrader 4.

Brokers pay a license to use MT4, which is dependent on the number of users and the “add-ons” and “white label” functions they use.

MT4 Being Phased Out for MT5

Interestingly, although it is still the most popular trading platform, MetaQuotes is no longer providing new brokers with MT4 licenses and no more MetaTrader 4 licenses to brokers.

Due to this, seasoned traders are increasingly seeking MT4 accounts, and some brokers are offering incentives to switch to using MetaTrader 5.

MetaTrader 4 Download

Due to MT4’s above limitation, it is no longer accessible to download MT4 directly from the MetaQuotes website. The links are all still available, but they will download MT5 when you click them. MT5 is fine to use if you’re starting trading and can do all MT4 does.

Most seasoned traders have been using MT4, so they prefer what it offers, including the unique base language it is coded with.

Can I Download MetaTrader 4?

Yes, if you wish to dowload MetaTrader 4, you can do so via an old archived link that is available here. Please note, this may not be supported by your broker, and is to be used entirely at your own risk.

Question 2

Which platform is better in FXView: MT4 or ActTrader?

Accepted Answer

Based on popularity and expanded functions, we would suggest that MetaTrader 4 (MT4) is a better platform than ActTrader.

While ActTrader was founded in 2000, MetaTrader 4 is the worlds most popular trading platform, with over 14 million users worldwide as of 2014.

If you ever decided to leave FXview to trade with another broker, it’s highly likely they will have MT4 or MT5 as a trading platform. It’s unlikely they would have ActTrader, a more boutique trading platform.

MetaTrader 4 (and 5) have many tutorials, guides and videos online.

Finally, MT4 is becoming sought after.

MetaQuotes, the company behind MT4 are limiting licenses being given out to brokers from now on as they are favouring MT5, which is very similar to use and will eventually supersede MetaTrader 4, although you will be able to transfer all your data across from MT4 > MT5.

The same cannot be said for ActTrader.

Finally, a 2023 survey revealed that 65% of traders use MetaTrader 4, while only 14% use other platforms.

It is discussed between traders here.

Is MetaTrader 4 a Broker?

Which platform is better in FXView: MT4 or ActTrader?

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