Top 3 MetaTrader 4 (MT4) Brokers for U.S. Traders

MetaTrader 4 Brokers for U.S. Traders

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.

Registered with the NFA and CFTC
No deposit or withdrawal fees if both are done by check
No minimum deposit
No minimum lot size
Allows scalping
Allows EAs
Live chat for instant communication
MT4 mobile
OANDA uses a Market Maker to execute trades
Does not offer Silver or Gold trading to U.S. clients
forex com revised
#2, founded in 2001, is partnered with Gain Capital Holdings, Inc. (NYSE: GCAP).

In 2001 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.

Automated order rules
Advanced order functionality
Offers price improvement
Registered with the NFA and CFTC
Offers micro lot trading
Offers mobile trading
Free ForexCharts by eSignal
MT4 mobile
Cons: uses a Market Maker to execute trades
#3 IG

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 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.

Registered with the CFTC, NFA, and FCA
Advanced order functionality
24-hour customer support
Emphasis on education
No minimum deposit
No minimum lot size
Allows scalping
Allows EAs
Tight spreads
No negative balance protection
No guaranteed stop losses

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.

12 thoughts on “Top 3 MetaTrader 4 (MT4) Brokers for U.S. Traders”

  1. I called ATC and they said that they do not allow US residents to open an account. Being that the rest are Market Makers, is it now safe to say that retail forex trading is dead? The only place you can find a broker nowadays is in the banana republic.

    • Not by a long shot, Robert. I need to update this article (thanks for bringing ATC to my attention, BTW).

      Also, although I would prefer to use an ECN, using a market maker doesn’t necessarily mean you’re going to lose money.

      If your trading system is profitable (and you’re not scalping), there’s not a lot a market maker can do to you, except make you slightly less profitable. OANDA, for instance, uses a market maker. However, they are known for treating their traders fairly.

      You should also keep in mind that even if you are with an ECN or STP broker, but you are not a profitable trader, you are probably B booked anyway (which means the broker is trading against you).

      FXCM got caught B booking traders when they claimed that they don’t do that. I’m sure they’re not the only ECN doing that.

      The takeaway is that you should learn a profitable trading system. Get good at making money and your broker will not find it profitable to trade against you, regardless of who you trade with.

    • Sorry for the late response, Nathan. There is always someone trading against you. The only difference is that your broker can see your stop loss. If you’re a profitable trader, your broker will not trade against you. They’d lose money.

      Most traders aren’t profitable, so they will be added to their brokers B book and traded against. If you want to stay off of the B book, use a profitable system, don’t enter trades without a stop loss, and don’t risk too much of your account or overleverage your account by opening too many trades. It also helps if your initial deposit is more than a few thousand dollars, but we all have to start somewhere.

      If you’re using a scalping system, a market maker will wreck you. With certain trading systems, however, there isn’t a whole lot that a market maker can do to derail a profitable trader. Sterling’s Day Trading Forex Live system, for instance, actually waits for the banks and other smart money to perform stop runs on retail traders. When trading a system like this, you’re piggybacking the institutions that actually move the market, so there’s not much a broker can do. They don’t want to be on the wrong side of those kinds of trades.

  2. I really liked MB Trading, but they got bought. Then I went to FXCM and never had any problem with them. Now I’m at OANDA and I can tell a difference. Spreads aren’t that great and sometimes price goes too far before closing. I came here hoping to find something better. Too bad ATC requires that much money, considering there’s no guarantee or insurance (SIPC) on futures/FOREX accounts in the US.

    What really sucks is if you were born in the Land of the Free™, even if you don’t live there, you can forget about getting a good FOREX account in Europe. They always ask about nationalities, and the moment you put American, instant rejection. It doesn’t matter what other citizenships you hold. Like me, I don’t live in the US, but unfortunately, that is the only place where I can open a FOREX account. Thanks Obama for the FATCA!

    • Haha. I like the trademark. I think you and I would agree on a lot of things. I’m in the same boat you are in. I used FXCM for years and was perfectly happy with them until recently. Most of the traders that I’ve talked to that were using FXCM have switched to OANDA.

      I actually haven’t looked into the trading abroad issue but renouncing your U.S. citizenship may be an option to consider if you plan to be a permanent expatriate.

      Regardless, I don’t think this current shortage of options will last forever. Whether it’s through removing restrictions or pure demand, brokers will eventually spring up to accommodate the needs of traders.

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