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Best brokers for MetaTrader 4

Fusion Markets Logo
1st place
Fusion Markets
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74-89% of retail CFD accounts lose money
IC Markets Logo
2nd place
IC Markets
Visit broker
74.32% of retail CFD accounts lose money
Pepperstone Logo
3rd place
Pepperstone
Visit broker
74-89% of retail CFD accounts lose money

The top 5 picks for the best MetaTrader brokers in 2022:

  1. Fusion Markets is the best MetaTrader broker in 2022. Low trading and non-trading fees. Fast and easy account opening. Great customer service.
  2. IC Markets takes second place. Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offer standard accounts and raw spread accounts.
  3. Pepperstone rounds out the top three. Fast and fully digital account opening. Great customer service. Seamless and free deposit and withdrawal.
  4. TMGM is ranked fourth. Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
  5. Tickmill. just made it to the list at number five. Low forex fees. Fast and easy account opening. Free deposit and withdrawal.
Best MetaTrader brokers in 2022
Broker Accepts clients from Minimum deposit Score Best in
#1 Fusion Markets Globally $0 4.6 Best discount forex broker
#2 IC Markets Globally $200 4.5
#3 Pepperstone Globally $0 4.6
#4 TMGM Globally $100 4.5
#5 Tickmill Globally $100 4.6

What makes a good MetaTrader broker? Of course they need to provide great services in all areas, but above all, they should have

  • fair fees
  • a good safety score
  • user-friendly account opening
  • a straightforward process to deposit money
  • a wide range of products


Not sure which broker to choose?

  • For a tailored recommendation, check out our broker finder tool. If you enter the name of your country and your preferences, it will display the best relevant matches.
  • Want more details? Compare brokers with the help of our in-depth comparison table.


And now, let's see the best MetaTrader brokers in 2022 one by one, starting with the winner, Fusion Markets.

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Best brokers for MetaTrader 4
Fusion Markets Logo

#1 Best brokers for MetaTrader 4
Fusion Markets

Fusion Markets is an Australian discount forex broker founded in 2010. It is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for low fees and a chance to use the metatrader 4 platform

Pros Cons
Low trading and non-trading fees Basic educational tools
Fast and easy account opening Limited product selection
Great customer service No investor protection

Visit broker
74-89% of retail CFD accounts lose money

#1 Fusion Markets
Fees
4.7

Fusion Markets has low forex and CFD fees and charges no inactivity or withdrawal fees.
Pros Cons
Low forex and CFD fees None
No withdrawal and inactivity fees
Fusion Markets fees
Fusion Markets IC Markets Pepperstone TMGM Tickmill
EURUSD benchmark fee $5.2 $5.8 $7.3 $6.1 $5.4
GBPUSD benchmark fee $3.2 $4.7 $5.5 $4.9 $4.5
S&P 500 index CFD fee $1.3 $1.3 $1.2 $0.2 $1.3
Europe 50 index CFD fee $1.2 $1.5 $1.4 $0.2 $1.4
Inactivity fee No No No Yes No

All spreads, commissions and financing rates (if applicable) for opening a position, holding for a week, and closing.

Visit broker More
74-89% of retail CFD accounts lose money

#1 Fusion Markets
Verdict

Fusion Markets is a great forex broker with very low trading and non-trading fees. The account opening is fast and easy, and customer service provides quick and relevant answers.

On the negative side, Fusion Markets has limited educational tools. The product portfolio is largely limited to forex and some CFDs. Lastly, there is no investor protection.

As you can open an account within a day and fees are low, feel free to try Fusion Markets.

Fusion Markets
Summary Fusion Markets is an Australia-based discount forex broker, regulated by the ASIC, VFSC and FSA Seychelles
Fees score 4.7 stars
Recommended for Forex traders looking for low fees and a chance to use the MetaTrader 4 platform

Visit broker More
74-89% of retail CFD accounts lose money

IC Markets Logo

#2 Best brokers for MetaTrader 4
IC Markets

IC Markets is an Australia-based global forex broker founded in 2007. The company has several branches and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (FSA) and the Australian Securities and Investments Commission (ASIC).

IC Markets is considered safe because it is regulated by the top-tier ASIC.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.32% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders who value easy account opening and free deposit/withdrawal options

Pros Cons
Low forex fees Limited product selection
Easy and fast account opening Slow live chat support
Free deposit and withdrawal No investor protection for non-EU clients
Offer standard accounts and raw spread accounts

Visit broker
74.32% of retail CFD accounts lose money

#2 IC Markets
Fees
4.6

IC Markets has low trading and non-trading fees. There is no inactivity or withdrawal fee. On the negative side, financing rates for CFDs are high.
Pros Cons
Low trading fees High financing rate for CFDs
Low non-trading fees
Low forex fees
IC Markets fees
Fusion Markets IC Markets Pepperstone TMGM Tickmill
EURUSD benchmark fee $5.2 $5.8 $7.3 $6.1 $5.4
GBPUSD benchmark fee $3.2 $4.7 $5.5 $4.9 $4.5
S&P 500 index CFD fee $1.3 $1.3 $1.2 $0.2 $1.3
Europe 50 index CFD fee $1.2 $1.5 $1.4 $0.2 $1.4
Inactivity fee No No No Yes No

All spreads, commissions and financing rates (if applicable) for opening a position, holding for a week, and closing.

Visit broker More
74.32% of retail CFD accounts lose money

#2 IC Markets
Verdict

IC Markets is a great forex broker.

Its forex fees are low and opening an account is fast and easy. Deposits and withdrawals are free of charge and the process is user-friendly. The education section on the website is great.

On the other hand, IC Markets offers only forex and CFD products for trading. In addition, live chat support could be better, and non-EU clients are not covered by any investor protection scheme.

Feel free to try IC Markets as you can open an account within a day and there is no inactivity fee.

IC Markets
Summary IC Markets is a global forex and CFD broker. The company is regulated by finanacial authorities globally, including the top-tier ASIC.
Fees score 4.6 stars
Recommended for Forex and CFD traders who value easy account opening and free deposit/withdrawal options

Visit broker More
74.32% of retail CFD accounts lose money

Pepperstone Logo

#3 Best brokers for MetaTrader 4
Pepperstone

Pepperstone is an Australian forex broker that also offers CFDs. It was established in 2010 and opened a London office in 2015 to better serve its European clients. After Brexit, new clients registering from the EU are served by Pepperstone's German and Cyprus entities.

Pepperstone is considered safe because it's regulated by 7 national regulators, including three top-tier financial authorities: the UK's Financial Conduct Authority (FCA), Germany's BaFin and the Australian Securities and Investments Commission (ASIC).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for great account opening and customer service

Pros Cons
Fast and fully digital account opening Mostly CFDs offered
Great customer service MetaTrader platform is basic
Seamless and free deposit and withdrawal

Visit broker
74-89% of retail CFD accounts lose money

#3 Pepperstone
Fees
4.4

Pepperstone has low forex and non-trading fees, including no inactivity or account fees. However, CFD financing rates are high for a few assets.
Pros Cons
Low forex fees High costs for holding positions overnight
No withdrawal fee
No inactivity fee
Pepperstone fees
Fusion Markets IC Markets Pepperstone TMGM Tickmill
EURUSD benchmark fee $5.2 $5.8 $7.3 $6.1 $5.4
GBPUSD benchmark fee $3.2 $4.7 $5.5 $4.9 $4.5
S&P 500 index CFD fee $1.3 $1.3 $1.2 $0.2 $1.3
Europe 50 index CFD fee $1.2 $1.5 $1.4 $0.2 $1.4
Inactivity fee No No No Yes No

All spreads, commissions and financing rates (if applicable) for opening a position, holding for a week, and closing.

Visit broker More
74-89% of retail CFD accounts lose money

#3 Pepperstone
Verdict

Pepperstone is a great forex and CFD broker, regulated by multiplse top-tier authorities, including the FCA, the BaFin and ASIC.

The account opening is fast and fully digital. Customer service is great, providing lightning-fast and relevant answers. Deposit and withdrawal are a breeze, with no fees charged in most cases.

On the other hand, at Pepperstone you can trade mostly forex and CFDs. If you're looking for advanced features in your trading platform, you might find the MetaTrader platform slightly disappointing.

Feel free to try Pepperstone as there is no inactivity fee or minimum deposit for standard accounts.

Pepperstone
Summary Pepperstone is a forex and CFD broker regulated by both the UK FCA and the ASIC in Australia.
Fees score 4.4 stars
Recommended for Forex traders looking for great account opening and customer service

Visit broker More
74-89% of retail CFD accounts lose money

TMGM Logo

#4 Best brokers for MetaTrader 4
TMGM

TMGM, or Trademax Global Markets, is an Australia-based global forex broker founded in 2013. The company has several branches and is regulated by the Australian Securities and Investment Commission (ASIC), the New Zealand Financial Markets Authority (FMA) and the Vanuatu Financial Services Commission (VFSC).

TMGM is considered safe because it is regulated by the top-tier ASIC.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders who prefer the metatrader platform

Pros Cons
Low forex fees Slim product portfolio
Easy and fast account opening Limited research and educational tools
Free deposit and withdrawal Inactivity fee

Visit broker
68% of retail CFD accounts lose money

#4 TMGM
Fees
4.6

TMGM has low forex and CFD fees. While TMGM doesn't charge a fee for withdrawals, there's an inactivity fee if you don't trade for more than six months.
Pros Cons
Low trading fees Inactivity fee
Low forex fees
No withdrawal fee
TMGM fees
Fusion Markets IC Markets Pepperstone TMGM Tickmill
EURUSD benchmark fee $5.2 $5.8 $7.3 $6.1 $5.4
GBPUSD benchmark fee $3.2 $4.7 $5.5 $4.9 $4.5
S&P 500 index CFD fee $1.3 $1.3 $1.2 $0.2 $1.3
Europe 50 index CFD fee $1.2 $1.5 $1.4 $0.2 $1.4
Inactivity fee No No No Yes No

All spreads, commissions and financing rates (if applicable) for opening a position, holding for a week, and closing.

Visit broker More
68% of retail CFD accounts lose money

#4 TMGM
Verdict

TMGM's forex fees are low, and account opening is fast and easy. Deposits and withdrawals are free of charge, and the process is user-friendly.

On the other hand, the product portfolio covers only forex and CFDs. In addition, clients are not covered by any investor protection.

Feel free to try TMGM, as you can easily open an account within a day.

TMGM
Summary TMGM is an Australian forex broker. It is regulated by both ASIC and VFSC, and is available globally for clients.
Fees score 4.6 stars
Recommended for Forex traders who prefer the MetaTrader platform

Visit broker More
68% of retail CFD accounts lose money

Tickmill Logo

#5 Best brokers for MetaTrader 4
Tickmill

Tickmill is a global forex and CFD broker, established in 2014. The company is regulated by several financial authorities globally, including the top-tier Financial Conduct Authority (FCA) in the UK; and as such is considered a safe broker.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for low fees who are familiar with the metatrader 4 platform

Pros Cons
Low forex fees Outdated platform design and functions
Fast and easy account opening Basic news feed
Free deposit and withdrawal

Visit broker
70% of retail CFD accounts lose money

#5 Tickmill
Fees
4.4

Tickmill has low forex fees and average CFD fees. There is no fee for deposit, withdrawal or inactivity.
Pros Cons
Low forex fees Average CFD fees
No withdrawal fee
No inactivity fee
Tickmill fees
Fusion Markets IC Markets Pepperstone TMGM Tickmill
EURUSD benchmark fee $5.2 $5.8 $7.3 $6.1 $5.4
GBPUSD benchmark fee $3.2 $4.7 $5.5 $4.9 $4.5
S&P 500 index CFD fee $1.3 $1.3 $1.2 $0.2 $1.3
Europe 50 index CFD fee $1.2 $1.5 $1.4 $0.2 $1.4
Inactivity fee No No No Yes No

All spreads, commissions and financing rates (if applicable) for opening a position, holding for a week, and closing.

Visit broker More
70% of retail CFD accounts lose money

#5 Tickmill
Verdict

Tickmill is a low-cost forex and CFD broker, regulated by several authorities globally including the top-tier UK FCA.

On the plus side, we liked Tickmill's low forex fees. Account opening is seamless and there are many free deposit/withdrawal options.

Tickmill has some drawbacks though. The trading platforms have an outdated design, and the quality of some research tools is uneven.

We recommend Tickmill for those who are interested in CFD and forex trading and are familiar with the MetaTrader trading platforms. Feel free to test it via the demo account.

Tickmill
Summary Tickmill is a low-cost forex and CFD broker. It is regulated by several financial authorities, including the top-tier FCA.
Fees score 4.4 stars
Recommended for Forex traders looking for low fees who are familiar with the MetaTrader 4 platform

Visit broker More
70% of retail CFD accounts lose money

Best brokers for MetaTrader 4
What makes a good MetaTrader broker

Now that you're familiar with the top 5, you're probably also wondering how we came up with this list. Let's go through a few points quickly. What is a MetaTrader broker? Why do we think these brokers are safe? What are the most important factors when selecting the best MetaTrader brokers?

What is a MetaTrader broker?

A MetaTrader broker is a brokerage company that connects you to MetaTrader, which is a popular third-party trading platform. So all of these brokers basically give you the same trading platform. However, there are differences in pricing or in the number of available markets or products. Therefore, it is important to choose the MetaTrader broker that offers the best conditions for you.

How did BrokerChooser pick the best MetaTrader brokers?

At BrokerChooser, we test MetaTrader brokers based on almost 500 criteria, using real accounts and real money. We don't want to overwhelm you, so we will list only the two most important criteria:

  1. Fees: The trading fees of a typical US equity trade can be as much as 50 times higher at one broker compared with another. It's definitely worth checking these fees.
  2. Markets and products: Want to trade a specific currency pair or CFD? They may not be available at all brokers. Check the product lineup before opening an account.

Best brokers for MetaTrader 4
Bottom line

We've shown you the details, now let's zoom out. Here are the best MetaTrader brokers in 2022:

Best MetaTrader brokers in 2022
Fusion Markets IC Markets Pepperstone TMGM Tickmill
Overall score 4.6 4.5 4.6 4.5 4.6
Best in Best discount forex broker
Fees score 4.7 stars 4.6 stars 4.4 stars 4.6 stars 4.4 stars
Markets and products score 2.3 stars 2.4 stars 2.4 stars 2.4 stars 2.5 stars
Visit broker
74-89% of retail CFD accounts lose money
Visit broker
74.32% of retail CFD accounts lose money
Visit broker
74-89% of retail CFD accounts lose money
Visit broker
68% of retail CFD accounts lose money
Visit broker
70% of retail CFD accounts lose money

Fusion Markets is our winner, having been selected the best MetaTrader broker in 2022. Low trading and non-trading fees. Fast and easy account opening. Great customer service.
All of these brokers are considered safe and a great choice. Pick the winner, or any of the runners-up, and take the next step in your trading journey. Let us know what you think in the comments section.
Still unsure? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country and some trading preferences, it will show only those brokers that are relevant to you. Want more details? Compare brokers with the help of this detailed comparison table.

Author of this article

Krisztián Gátonyi

Author of this article

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Krisztián Gátonyi

Senior Broker Expert

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Visit Fusion Markets
74-89% of retail CFD accounts lose money
Visit IC Markets
74.32% of retail CFD accounts lose money
Visit Pepperstone
74-89% of retail CFD accounts lose money
Visit TMGM
68% of retail CFD accounts lose money
Visit Tickmill
70% of retail CFD accounts lose money

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