MetaTrader 4 (MT4) is a trading platform created in 2005 by MetaQuotes. Although it is most commonly associated with forex trading, MetaTrader 4 can be used to trade a variety of markets through CFDs, including forex, indices, cryptocurrencies, and commodities.
Because it is highly customizable to your specific trading preferences, MT4 is extremely popular. It can also be used to automate your trading by utilizing algorithms that open and close trades on your behalf based on a set of parameters.
This blog is intended to assist you in selecting the best MT4 brokers in Canada.
Compare Top MT4 Brokers in Canada
Canadian MT4 Broker Reviews
IFC Markets
When you visit IFC Markets, you are participating in 16 years of forex and CFD market experience. The platform is governed by the BVI, FSC, and LFSA, and AIG Professional Indemnity Insurance ensures it for Financial Institutions.
IFC Markets is an excellent choice for intraday and mid-term traders looking for competitive spreads and excellent customer service. You spend very little money to complete your trades with spreads as low as 0.4 pips. You can invest in CFDs, and the company even has its own trading method called the “GeWorko Portfolio Quoting Method.”
If you have an idea you’d like to test, you can use the IFC Markets platform to create your own trading method. In addition, IFC Markets provides:
- Annual interest rates on free margins in Islamic accounts are 7%.
- NetTradeX, MT4, and MT5 trading platforms are available for desktop and mobile trading.
FOREX.com
Gain Capital (GCAP), an NYSE-listed company, owns FOREX.com. This company is distinguished by its numerous trading platforms, which range from the popular Metatrader 4 to Forextrader Pro and Web Trading.
Users can use the platform that best suits their needs, and it also includes automated trading for more advanced programmers.
When combined with their solid mobile applications, Forex.com provides one of the best platform experiences among brokers. The company goes above and beyond with its wealth of research and insights.
While the research and tools may be different from platform to platform, most offer economic analysis, real-time news, and advanced data analysis.
Interactive Brokers
Interactive Brokers is based in the United States, but it offers investment opportunities to clients all over the world.
Interactive Brokers Canada is a comprehensive trading platform that provides you with low-cost access to a wide range of securities. With access to over 135 global markets, you can buy assets from all over the world from the comfort of your own home or office. Options, futures, forex, and fund trading are also available, and the majority of traders will not pay a commission on any purchase or sale.
Its FXTrader platform supports more than 20 different order types. You can trade forex in 24 currencies all over the world. Interactive Brokers provides a smart order router that monitors market conditions to reroute all or parts of your order.
What sets IBKR apart from other brokers?
Access to a diverse market range. You can buy and sell assets on over 135 different markets with Interactive Brokers, making it simple to buy and sell international stocks and funds.
An all-inclusive mobile app. If you prefer to trade on the go, you’ll appreciate Interactive Brokers’ fully optimized, responsive mobile platform.
Margin rates are low. You can access margin trading with an Interactive Brokers Pro account for as little as 0.75% APR for IBKR Pro. Even Interactive Brokers’ Lite account is reasonably priced.
AvaTrade
A beginner can easily and comfortably navigate the complex investing world with AvaTrade thanks to the firm’s intuitive and simple interface and the solid backup provided by customer support. The company also offers specialized educational content, such as its “Trading for Beginners” section.
AvaTrade is a fully licensed broker with offices in Europe, South Africa, the Middle East, the British Virgin Islands, Australia, and Japan. AvaTrade primarily trades forex and contracts for difference (CFDs) on stocks, commodities, indexes, and cryptocurrencies.
It provides support in 14 languages and trading platforms in 20 languages. You may be able to use the demo account to test the platform before committing.
If you open an account with a credit card or wire transfer, you must make a minimum deposit of $100. The minimum opening balance is determined by the client’s deposit’s base currency.
Avatrade does not charge any commissions on forex trades and is compensated through the bid-ask spread. If the spread on 1,000 units of a currency pair is 3 pips, the brokerage compensation is $0.30.
FXCC
FXCC is an international forex trading platform with multilingual support and dozens of site translation options. Set up a forex trading account in your preferred language.
You can trade forex, cryptocurrencies, metals, indices, and energy. When necessary, you can use an account with 1:500 leverage, a 100% first deposit bonus, and an Islamic trading account.
The MT4 platform is available for use on your desktop, iOS, and Android devices. There is also a substantial education and research section. There is information available to help you make your investments more profitable, whether you are an expert or a novice.
Furthermore, you can learn more about forex or commodity trading by using a risk-free demo account. FXCC allows you to learn everything you need to know before putting your money at risk.
Monday through Friday, you get 24-hour support, live chat support, and a support email that you can contact at any time. The platform is simple to use, and it provides enough options for you to master its intricacies while also increasing your net worth and managing your finances all in one place.
Conclusion
Whatever your personal investment strategy, you can gain from the best MT4 brokers that this blog has reviewed. These resources will help you choose the best fit for your needs, whether it’s a short-term investment or something long-term.
There are many other types of brokers out there, and they should be considered based on their specific strengths and weaknesses. Take the time to understand each broker and plan accordingly, as each one will have a different effect on your profit potential.
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