Sunday, June 23, 2024

How to Choose MT4 Brokers for Beginners

Are you searching for which platform to start your trading career from? As of now, a number-one choice for novice traders is Metatrader platforms, namely MT4. Below, you will find a short overview of this service and its advantages, as well as tips on how to choose the best broker supporting it.

Metatrader platforms are known for their automated trading features mainly. In other words, they allow their users to earn from trades with minimum experience and at minimum time and effort expense. For that, one can make use of trading bots, advisors, signals provided by expert traders, as well as a huge selection of customizable charts.

The most frequent question about these platforms is: “What is the difference between MT4 and MT5?”. A short answer is that MT4 is designed for Forex trading and oriented towards beginners in the first place, while MT5 offers a wider selection of assets (including futures, stocks, CFDs) and a range of advanced features for professionals. Thus, if you are new to trading, an optimal choice is to use MT4.

After you make a decision concerning the platform, the next step is to look through MT4 brokers working on the market and choose the best one. According to the rules, you are not allowed to execute trades without such an intermediate. In practice, the choice criteria will depend on your personal needs, but we will mention universal ones: a license, an assortment of available assets, a selection of trading instruments, availability of advisors and bots, minimum deposit limits, fees, spreads, lot sizes, execution speed. Still, even if the service chosen suits all your requirements, testing it via a demo account is an obligatory safety measure.

In the end, we would also like to mention a few brokers worth considering: RoboForex, IC Markets, FxPro, Tickmill, Exness.

Sam Allcock
Sam Allcock
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

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