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If you have been involved in the stock exchange and foreign exchange market for a while, you must have heard of MT4.
MetaTrader4 or MT4 is a well-known online trading platform that is used by millions of traders across the globe. This platform was developed by MetaQuotes and has been in existence since 2005.
MT4 is widely accepted by a plethora of traders because of its easy-to-navigate and customizable interface, variety of order types, and advanced trading tools.
This trading platforms offer you the leverage to switch between different accounts from different brokers within the same app.
As enticing as MT4 sounds and is, not all brokers offer their users access to this platform. For traders in Malaysia, here are some of the best MT4 brokers in Malaysia.
| Forex Broker | Regulation | EUR/USD Spread | |
|---|---|---|---|
| IG Markets |
CySEC, FCA, DFSA, FSCA, etc.
|
1.1 pips
|
Visit Broker |
| Forex.com |
FCA, IIROC, CySEC, etc.
|
0.6 pips
|
Visit Broker |
| Avatrade |
Ireland, Japan, ASIC, etc.
|
0.9 pips
|
Visit Broker |
| ICM Capital |
FCA, FSC, FSA, etc.
|
0.9 pips
|
Visit Broker |
| FXOpen |
ASIC, CySEC, FCA
|
1 pip
|
Visit Broker |
| HF Markets |
ASIC, CySEC, FCA
|
1.4 pips
|
Visit Broker |
| Octa |
SVGFSA, CySEC, FSCA
|
0.9 pips
|
Visit Broker |
Here is the list of lowest spread brokers for traders based in Malaysia.
IG Markets is an award-winning broker.
IG Markets is an award-winning broker that is regulated by The Financial Conduct Authority (FCA), German Federal Financial Supervisory Authority, Deutsche Bundesbank, Cyprus Securities and Exchange Commission (CySec), Dubai Financial Services Authority (DFSA), and Financial Sector Conduct Authority (FSCA) to mention but a few of its regulators.
This broker offers you as many as seven trading platforms to choose from and one of them is the MetaTrader4. MT4 on IG Markets is free to use and allows you trade Forex, indices, oil and major metals as well as CFDs.
This platform also allows automated trading and order types like; Market orders, limits, stops, stop-loss, take profit.
Users of MT4 on IG Market have Access to MT4 platform specialists 24 hours a day. It is noteworthy to add that IG Market prides itself on the claim that their MT4 platform has a server up time of up to 99%+. The average spread when trading with MT4 on IG Markets is 0.86 points.
Aside from MT4, other trading platforms that IG Markets offers include; mobile trading app, progressive web app, online trading platform, ProRealTime, and L2 Dealer.
Forex.com is regulated by some of the top-tier regulatory bodies in the world.
Forex.com is regulated by some of the top tier regulatory bodies in the world like; The Investment Industry Regulatory Organization of Canada (IIROC), Financial Conduct Authority (FCA), The National Futures Association (NFA)
Commodities Futures Trading Commission (CFTC), and Cyprus Securities & Exchange Commission (CySEC) to mention but a few.
This broker offers you up to 5+ trading platforms to choose from including MT4 and MT5. The MT4 trading platform on Forex.com offers access to nine expert advisors and up to 15 custom indicators.
MT4 is accessible on Android, IOS and web. Irrespective of the device you use to access this trading platform, Forex.com claims that you still get all the benefits there is to experience on MT4 with Forex.com.
Avatrade is an online broker that was established in 2006.
Avatrade is an online broker that was established in 2006. This broker is licensed by 9 regulatory bodies across six continents. Some of these regulatory bodies include; Central Bank of Ireland, Polish Financial Supervision Authority, Australian Securities & Investments Commission, and Financial Futures Association of Japan to mention but a few.
This broker offers users up to five different trading platforms to choose from. Each of these platforms suits the trading style of different types of traders. However, MT4 is one of the most popular trading platforms because it is suitable for both beginners and advanced traders.
MT4 on Avatrade trade offers you access to 9 timeframes, 30 in-built technical indicators, and 23 analytical objects. As a user, you also have access to up to create your customizable indicators.
MT4 has financial news widgets integrated into it. This enables users to stay updated with recent news that may influence the financial market.
It is also noteworthy to add that MT4 allows you to trade using expert advisors. Expert advisors enable you to automate trading.
ICM Capital was established in 2009 in London, United Kingdom. Over the years, this broker has spread its influence across different countries and continents.
ICM Capital is one of the brokers Malaysians use that offers MT4 trading platform to its users. This broker is regulated by top tier regulatory bodies such as Financial Conduct Authority (FCA), FSC Mauritius, and FSA etc.
ICM Capital was established in 2009 in London, United Kingdom. Over the years, this broker has spread its influence across different countries and continents.
This broker offers its user access to three types of trading platforms which includes; MetaTrader5, MetaTrader4, and cTraders. MT4 on ICM Capital is available on Android, desktop, IOS, and Mac.
Some of the key features on ICM Capital MT4 that makes it a go to trading app for traders include; its wide range of technical analysis tools. Thus, trading platforms offer a wide range of time periods (ranging from minutes to months), custom indicators, and charting tools.
It also gives you the opportunity to automate your trading using expert advisors. Another noteworthy thing about this trading platform is the fact that it has a multilingual platform Interface. You can interact on the MT4 interface using languages like; Farsi, Japanese, English, Simplified Chinese, Russian, Arabic, German, Spanish, Polish, French, Turkish, Korean, Indonesian, Bulgarian etc.
Spread in ICM varies depending on the currency pair and product. You can trade EUR/USD for as low as 1.6 pips and GBP/USD from 2.7 pips
.
You can trade forex, cryptocurrencies, indices, shares, CFDs, and commodities, on MT4 as an FXOpen user.
FXOpen prides itself in being the first broker to offer direct access to ECN trading and interbank liquidity through MT4.
You can trade forex, cryptocurrencies, indices, shares, CFDs, and commodities, on MT4 as an FXOpen user.
Another reason why FXOpen may be considered for traders who wish to use MT4 is the fact that the trading platform puts you in control. You customize the platform to suit your trading style.
MT4 also allows you to place your order directly from the chart function, as well as to automate your trades. This trading platform gives you access to 50+ in-built indicators and graphic tools.
FXOpen is regulated by CySEC, ASIC, and FCA. This broker offers spread that starts from 0.0 pips and has over 16 years of experience in the financial market and industry.
Octa is a forex broker that was established in 2011 and has Tier 2 and Tier 3 regulation.
Octa is forex broker that uses the ECN/STP execution model, Octa offers only 3 account types, depending on the trading platform you access it, they are OctaTrader Account, MT5 Account and an MT4 Account.
Financial instruments you can trade on Octa in Malaysia are CFDs on currency pairs (forex), stocks, cryptocurrencies, energies, indices, metals, and shares. Octa offers spread only trading, they do not charge any commission on trades and no swap fees apply for holding a position overnight.
Octa trading accounts integrate with the MetaTrader 4 trading application and you can access on the web or mobile devices. They also offer demo MT4 accounts new traders can use for practice.
Key features of the MT4 integration with Octa include one-click trading, chart trading, scalping and robots support. The Octa MT4 lets you develop your own Expert Advisors (EAs) and customise technical indicators to match your preferences. In addition to the advanced charting tools for market analysis, you can arrange windows and charts on the trading platform for your profile.
Octa is regulated in South Africa by the Financial Sector Conduct Authority (FSCA), in Europe by the Cyrpus Securities and Exchange Commission (CySEC) and in St. Vincent and the Grenadines by the Financial Services Authority.
Spreads on Octa typically start from 0.6 pips, with average spread for EUR/USD being 0.9 pips.
MetaTrader 4 (MT4) is a widely used electronic trading platform specifically designed for forex trading, though it can also be used for other instruments like CFDs and commodities.
Developed by MetaQuotes Software and released in 2005, MT4 has become a popular choice for both beginner and experienced traders due to its user-friendly interface, advanced features, and widespread availability.
Here are some key features of MT4:
1) Charting: MT4 offers a comprehensive set of technical analysis tools and indicators, allowing users to analyze market trends and make informed trading decisions.
2) Order execution: MT4 supports various order types, including market orders, limit orders, and stop-loss orders, providing traders with greater control over their positions.
3) Timeframes: MT4 has multiple timeframes. They range from 1 minute to a month. This makes it suitable for different traders and trading strategies (swing trading or day trading).
4) Expert Advisors (EAs): MT4 allows users to automate their trading strategies with the help of EAs, which are essentially computer programs that can execute trades based on pre-defined rules.
5) Backtesting: Traders can test their trading strategies on historical data using MT4’s backtesting functionality to gauge their potential performance before risking real capital.
6) Customizable interface: MT4 allows users to personalize their workspace by adding custom indicators, templates, and other add-ons.
7) Price Alerts: You can adjust the settings on MT4 so you can receive price alerts. This feature comes in handy if you’d love to check your charts at a specific price point. The alert feature also helps you stay updated on latest happenings in the market.
8) Indicators: MT4 is loaded with indicators that you can use for technical analysis. There are trend indicators and oscillators that help you predict future price movements. Even better, you can edit the properties of these indicators and customize them to your trading strategies.
Things to consider:
1) Limited asset class support: While primarily focused on forex, MT4’s asset class support may be limited compared to some other platforms.
2) Broker dependence: MT4’s features and functionalities can vary depending on the broker you choose.
3) Potential for automation risks: Using EAs to automate trading comes with inherent risks and requires careful programming and understanding.
4)Fees: Some brokers may charge additional fees for using MT4 or specific features.
MT4 was removed from the Apple App store on September 23,2022. According to the company the app did not comply with review guidelines. After about six months, MT4 was reinstated on the App Store March 6, 2023. Now you can get MT4 on your iphone now that the ban is no longer in place.
1. Go to App store on your phone by clicking on the App store icon. (highlighted yellow)
2. Search for MetaTrader 4 in the search window. The App store will give show you an option to click.
3. When you click the option, you will arrive at the MT4 page. It will look like the image below. Note the image and the logo of MT4. In addition, the name of the company is important. In the image, you can see the manufacturer’s name which is MetaQuotes Software Corp. Download the app by clicking ‘GET’.
5. When the download is complete, install the app on your iPhone.
6. Open the app when installation is complete. Find your broker’s server and enter log in details if you have an existing trading account. If you don’t have one, you can open a default MT4 demo account or a demo account from your broker.
7. If you follow this process, then you are ready to start using MT4 and trading CFDs. You can customize the colors and display on the chart if you want.
Yes, you need a forex broker to access live market rates and updates on MT4. If you download MT4 on your mobile phone, you can access a demo account offered by MetaQuotes. It is automatic and you do not need a broker for this demo account.
However, it is better that you sign up with a broker instead. This allows you open a demo account from your broker and assess their trading conditions. Then you can proceed to open a live account by searching for your broker’s server and entering your log in details.
For a more easy process, it is advisable that you download MT4 from your broker’s website. It will likely be customized and made for your broker. You will not have to carry out a long search to find your broker’s server.
MT4 may be one of the most popular trading platforms around the world, but you will need a broker to trade. As such, it is important that you do your due diligence to carry out thorough research before choosing a broker to trade with. Most of the brokers listed in this list of Best MT4 Brokers in Malaysia offer demo MT4 accounts. You can take advantage of the demo accounts to see how the broker works.
According to our research, the best brokers operating in Malaysia and offering MT4 trading platform are IG Markets, ICM Capital, Forex.com, Avatrade, and FXOpen
One of the most trusted brokers in Malaysia is Avatrade. You can also consider brokers like IG Markets, ICM Capital, Forex.com, and FXOpen.
Forex trading is not regulated in Malaysia. However, there is no prohibition in using MetaTrader 4.
