What good is a profitable trading system without a reliable broker to execute your trades? Finding a Forex broker is a necessary evil if you plan on trading retail Forex.
There are some really great brokers out there to help everyday traders, but unfortunately, there are also bad brokers and scam artists as well.
Not all brokers are created equal. Some have even been in the news recently for their less than upfront dealings with their so called “valued customers.”
It is really important to do your due diligence and compare MetaTrader 4 brokers to find the best one for you.
That research could include comparing features and account requirements, speaking to customers service representatives, and reading reviews from current and former customers.
If you are a U.S. trader or require an account in the U.S., the MetaTrader 4 brokers below are a great place to start your research.
Below is a list of the top 3 quality MetaTrader 4 brokers available to U.S. traders:
Founded in 1995, OANDA has become a trusted name in the retail Forex industry.
OANDA is known for providing the Forex community – not just account holders – with many trading decision support tools.
They have also received many awards chosen by retail traders, including 4 wins in the 2010 FX Traders’ Choice Awards.
OANDA is known for bringing several technological advancements to the retail Forex industry, and for being one of the first brokers to provide retail traders with spreads under 1 pip.
Forex.com, founded in 2001, is partnered with Gain Capital Holdings, Inc. (NYSE: GCAP).
In 2001 Forex.com won Forbes’ “Best of the Web” award, and the recognition hasn’t stopped there.
They have been chosen as the best Forex broker by readers of such publications as Shares and World Finance and have received much praise for their proprietary FOREXTrader Pro platform.
IG Group was founded in 1974 as the world’s first spread betting firm. They only brought their services to U.S. Forex traders in 2019.
Although they are the new kid on the block (in terms of Forex services), they’ve already made a name for themselves, winning Investopedia’s Best Online Broker Award and FX Week’s Best Retail FX Platform in 2019.
They offer spreads as low as 0.8 pips on EUR/USD and USD/JPY and claim to average spreads that match or are lower than OANDA and Forex.com on popular Forex pairs.
IG puts an emphasis on customer service. They’re involved with the FX Global Code of Conduct, and they offer 24-hour customer service.
These top MetaTrader 4 brokers can be great picks for anyone looking to trade retail Forex in the U.S. There are different account types, sizes, and the latest in technology to help you grow as a trader.
Many of these brokers also offer YouTube tutorials or webinars to educate you in trading or to assist you in working with their platforms and tools.
In addition, many of these MetaTrader 4 brokers are connected to social media, like Twitter and Facebook, so you can have even more access to their experts and customer service representatives.
The most important thing when choosing a broker is to know what kind of trader you are, and what your needs will be as you trade.
Just take your time and find a registered MetaTrader 4 broker that meets your needs.
This article represents my honest opinion of these brokers, and of the other brokers that were considered. I am not being paid to refer you to any of these MetaTrader 4 brokers, nor am I being compensated in any other way.
You should use this article as a jumping off point only. Like anything else in this business, your own research will go a long way in finding a reliable broker that will meet your specific needs.
If you are not a U.S. customer, there are certainly other companies that you might consider first. However, if you are a U.S. trader, these top 3 MetaTrader 4 brokers are a great place to start.