MT4 Brokers

The African continent is home to many MT4 brokers, including the internationally acclaimed HotForex and IC Markets.  Low spreads, reliable executions, and 24-hour customer service are among the most attractive features offered by these brokers, making them ideal for any type of investor. Additionally, many local payment methods are available to make deposits easier in markets like Nigeria, South Africa and Kenya. Below is a list of top MT4 Brokers in Africa, chosen for their superior offerings:

What is Meta Trader 4 broker?

Meta Trader 4 (MT4) is a platform for online trading, created by MetaQuotes Software Corporation. It’s highly regarded as one of the world’s most powerful and popular platforms in foreign exchange markets. MT4 broker can be used by individual traders or institutions operating on financial markets.

The platform provides a wide range of features, including charting and automated trading. It also supports Strategy Tester, which allows for the testing and optimization of expert advisors (automated trading systems).

MT4 boasts an easy-to-use interface as well as powerful analytical tools that allow traders to analyze prices in detail. In addition, it offers helpful online support from MetaQuotes Software Corporation should any technical issues arise with the platform or brokers using it.

What is the difference between MT4 and MT5?

MT4 and MT5 are both popular trading platforms used by the retail forex market lately. The main difference between them is that MT4 comes with higher adaptability for manual traders, while MT5 offers a superior range of tools for automated strategies.

MT4 relies heavily on technical analysis capabilities, which makes it ideal for those who prefer manual-based trades. It also allows users to create custom indicators or scripts using the MetaQuotes language (MQL). On top of that, traders can use Expert Advisors (EAs) which help automate certain tasks such as opening and closing orders according to preset conditions.

In contrast, MT5 supports a greater range of order types and allows for more sophisticated trading strategies. It has an enhanced market depth view, built-in charting tools, and an economic news feed.

Furthermore, users can take advantage of its hedging capabilities and the ability to trade different stocks, indices, commodities, and futures on a single platform. Despite its impressive range of features, MT5’s coding language (MQL5) is more complex than MT4’s MQL .

Factors to Consider When Choosing an MT4 Broker

When it comes to Forex trading, selecting the right broker is extremely important. Choosing an MT4 broker can be a challenging task as each one offers different features and services. Here are the factors to consider when choosing an MT4 broker:

• Regulation: Choose a regulated broker with licence from a recognized financial authority, such as CySEC in Cyprus or FCA in the UK.
• Spreads and Commissions: Check to see if the broker offers competitive spreads and commissions.
• Payment Methods: Make sure the MT4 broker provides your preferred deposit/withdrawal methods, such as bank transfers or debit/credit cards.
• Leverage: Determine what type of leverages the broker is offering and choose one with a suitable leverage level for your account size.
• Account Types: Find out what types of accounts you can open with the broker.
• Platforms and Tools: Determine the trading platforms and software tools offered by the MT4 broker.
• Customer Support: Ensure that customer service is available 24/7, in many languages through channels like phone, email, or chat.
• Reviews: Do some research for reviews about the broker before committing.