MetaTrader 4
Forex & CFD trading terminalMetaTrader 4 (MT4) is the forex and CFD trading terminal developed by MetaQuotes and released in 2005. For years it has been the de-facto retail standard for currency trading, with a vast ecosystem of broker support and third-party tools. As with MT5, you use it through a broker: MetaQuotes makes the software, and the broker provides the account, pricing and execution.
SMCM is independent and is not affiliated with, endorsed by, or sponsored by MetaQuotes Ltd. MetaTrader, MetaTrader 4 and MT4 are trademarks of MetaQuotes Ltd, used here for identification and educational purposes only. You trade with MetaTrader 4 through a broker that offers it — MetaQuotes develops the software and is not a broker.
Quick facts
- Developer
- MetaQuotes Ltd
- Released
- 2005
- Type
- Forex & CFD trading terminal
- Markets
- Forex and CFDs
- Automation
- MQL4 Expert Advisors, indicators, scripts
- Devices
- Windows, web, iOS, Android
Where you can trade
The platform is available worldwide, but you use it through a broker or prop firm — so whether you can access it depends on that provider's availability in your country, not on MetaQuotes.
Eligibility depends on your country of residence and which entity you are onboarded to, and can change. Always confirm you can open an account — and under which entity — on the provider's official site before funding.
Our take
MetaTrader 4 became the retail forex standard for a reason: it is stable, light and surrounded by the largest ecosystem of brokers, Expert Advisors and custom indicators in the industry. If a strategy, signal service or automated system exists in retail forex, there is a strong chance it was built for MT4 first.
Like MT5, MT4 is a terminal, not a broker. You download it and log in with credentials from a broker that offers it, and that broker sets your spreads, commissions, leverage and which instruments you can trade. MetaQuotes develops the software; it does not hold your funds or execute your orders.
MT4's limits are the flip side of its age. It is built around forex and CFDs rather than multi-asset trading, its MQL4 language and single-threaded tester are older than MT5's, and MetaQuotes has shifted new development toward MT5 and limited new MT4 broker licensing. It remains widely supported, but a trader starting fresh should weigh MT4's ecosystem against MT5's broader capabilities.
Pros
- The most widely supported retail forex platform — offered by almost every forex broker
- Huge ecosystem of third-party Expert Advisors and indicators
- Light, stable and simple to learn
- MQL4 automation with a large community and documentation
- Free to download; desktop, web and mobile apps
Cons
- Forex/CFD-focused — no native stocks, futures or options like MT5
- Older architecture: fewer timeframes and a single-threaded strategy tester
- MetaQuotes has limited new MT4 licensing and focuses development on MT5
- Costs and available markets depend entirely on your broker
Full details
- Developer
- MetaQuotes Ltd (software developer, not a broker)
- How you access it
- Download the terminal and log in with an account from a broker that offers MT4
- Asset classes
- Primarily forex and CFDs (subject to your broker)
- Timeframes
- 9 built-in timeframes
- Analysis tools
- 30 built-in technical indicators plus a large third-party library
- Automation
- MQL4 for Expert Advisors, custom indicators and scripts; built-in strategy tester
- Status
- Widely supported by existing brokers; MetaQuotes now focuses new development on MT5
- Platforms
- Desktop app (Windows), a web terminal, and mobile apps for iOS and Android
- Pricing
- Free to download; trading costs (spreads / commissions) are set by your broker, not MetaQuotes
Who it may fit
- • Forex traders who want the most broadly supported, EA-friendly platform
- • Traders relying on MT4-specific Expert Advisors or indicators
Who should avoid it
- • Traders who want stocks or futures in the same terminal (see MT5)
- • Traders who want the newest tools and multi-threaded backtesting
FAQ
- Is MetaTrader 4 still worth using?
- It remains the most widely supported retail forex platform, with an enormous ecosystem of brokers and tools. For pure forex and CFD trading it is still very capable; for multi-asset trading or the newest features, MT5 is the more modern option.
- Is MetaTrader 4 a broker?
- No. MetaTrader 4 is trading software developed by MetaQuotes. You trade through a broker that offers it; the broker holds your funds and sets your pricing, leverage and available markets.
- Should I choose MT4 or MT5?
- If you trade forex/CFDs and depend on MT4-specific tools, MT4 is fine. If you want stocks, futures or options in one terminal, more timeframes and the newer MQL5 tools, MT5 is the broader choice. Check which your broker supports best.
Head-to-head comparisons
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Last checked: July 2026