A MetaTrader broker is a brokerage company that provides MetaTrader, which is a popular third-party trading platform. While all of these brokers present you with the same trading platform, there can be differences in pricing or in the number of available markets and products.
Therefore, it is important to choose the MetaTrader broker that offers the best conditions for you. The following are are top picks in this area:
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). Fusion Markets has 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, its product portfolio is largely limited to forex and some CFDs and there is no investor protection.
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). 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. Its live chat support could be better, and non-EU clients are not covered by any investor protection scheme.
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 regulated by three top-tier financial authorities: the UK's Financial Conduct Authority (FCA), Germany's BaFin, and the Australian Securities and Investments Commission (ASIC). The account opening is fast and fully digital. Customer service is great, providing 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 only forex and CFDs. If you're looking for advanced features in your trading platform, you might find the MetaTrader platform slightly disappointing.
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'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 includes only forex and CFDs. In addition, clients are not covered by any investor protection.
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. 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. Its product range is limited to forex and CFDs on some stock indexes, commodities, and cryptos. The trading platforms have an outdated design, and the quality of some research tools is poor.
If you want to know more, read our article on our current top picks for the best MetaTrader brokers.