Best MT4 Brokers in SA

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Trading Experience
Trading Conditions
Account Types
Trading Platforms
Regulators
Minimum Deposit
$10
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indices
  • Metals
  • Shares
  • Stocks
TYPE OF BROKER

ECN/STP

REGULATED BY
CySEC CySEC
FSCA FSCA
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Maestro
  • UnionPay
  • Neteller
  • Skrill
  • Bitcoin
  • Bank Transfer
Trading Conditions
  • Max. Leverage : Flexible
  • Min. Spread : 0.1 pips
  • Currency Pairs : 59
Account Spread From Commission Execution Min. Deposit
Cent Account 1.5 pips None Instant $10 Account Details
Standard Account 1.3 pips None Instant $100 Account Details
ECN Zero Account 1.5 pips None Market $200 Account Details
ECN Account 0.1 pips $2.00 Market $500 Account Details
FXTM Pro Account 0.0 pips None Market $25,000 Account Details
Minimum Deposit
$5
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indices
  • Metals
  • Shares
  • Stocks
  • Energies
TYPE OF BROKER

Market Maker

REGULATED BY
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Maestro
  • UnionPay
  • Neteller
  • Skrill
  • Bitcoin
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 500:1
  • Min. Spread : 0.1 pips
  • Currency Pairs : 55+
Account Spread From Commission Execution Min. Deposit
Micro 1.0 pips None Instant $5 Account Details
Standard 1.0 pips None Instant $5 Account Details
XM Ultra Low 0.6 pips None Instant $50 Account Details
Minimum Deposit
$50
TRADING INSTRUMENTS
  • Forex
  • Cryptocurrencies
  • Stocks
  • Indices
  • WTI
  • Bonds
  • Precious metals
TYPE OF BROKER

Market Maker/STP

REGULATED BY
FCA FCA
ASIC ASIC
FSCA FSCA
TRADING PLATFORMS
  • MetaTrader4
  • Trade Station
  • Ninja Trader
  • WebTrader
DEPOSIT METHODS
  • Bank Transfer
  • Visa
  • Mastercard
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : Variable
  • Currency Pairs : 39
Account Spread From Commission Execution Min. Deposit
Standard 1.3 pips None STP $50 Account Details
Active Trader Not Published Yes STP $25,000 Account Details
Minimum Deposit
ZAR 2000
TRADING INSTRUMENTS
  • Forex
  • Commodities
TYPE OF BROKER

Pure STP

REGULATED BY
FSCA FSCA
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 200:1
  • Min. Spread : 0.6 pips
  • Currency Pairs : 32
Account Spread From Commission Execution Min. Deposit
Basic Normal None STP R2,000 Account Details
Standard Competative None STP R15,000 Account Details
Premier Tight None STP R30,000 Account Details
VIP Institutional None STP R50,000 Account Details
Minimum Deposit
$100
TRADING INSTRUMENTS
  • Forex
  • Futures
  • Indices
  • Metals
  • Shares
  • Energies
TYPE OF BROKER

NDD Intervention Market Maker

REGULATED BY
FCA FCA
 CySEC CySEC
 SCB SCB
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • cTrader
  • FxPro Edge
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Maestro
  • UnionPay
  • Neteller
  • Skrill
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 500:1
  • Min. Spread : 0.6 pips
  • Currency Pairs : 70+
Account Spread From Commission Execution Min. Deposit
FxPro cTrader 0.45 pips $4.50 Market $100 Account Details
FxPro MT4 1.2 pips None Market $100 Account Details
FxPro MT5 1.52 pips None Market $100 Account Details
Minimum Deposit
$100
TRADING INSTRUMENTS
  • Forex
  • Cryptocurrencies
  • Stocks
  • Indices
  • WTI
  • Bonds
  • Precious metals
TYPE OF BROKER

STP

REGULATED BY
CySEC CySEC
FCA FCA
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • UnionPay
  • Neteller
  • Skrill
  • Fasapay
  • Sticpay
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 500:1
  • Min. Spread : 0.0 pips
  • Currency Pairs : 60+
Account Spread From Commission Execution Min. Deposit
Classic 1.6 pips None Market $100 Account Details
Pro 0.0 pips Variable Market $100 Account Details
VIP 0.0 pips Variable Market $50,000 Account Details
Minimum Deposit
$1000
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Stocks
  • Bonds
  • Options
  • Futures
  • Shares
TYPE OF BROKER

Market Maker

REGULATED BY
FCA FCA
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • Advanced Trader
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 1.7 pips
  • Currency Pairs : 78
Account Spread From Commission Execution Min. Deposit
Premium 1.4 pips None Instant $10,000 Account Details
Prime 1.1 pips None Instant $50,000 Account Details
Professional Custom None Instant Volume Based Account Details
Standard 1.7 pips None Instant $1,000 Account Details
Minimum Deposit
$100
TRADING INSTRUMENTS
  • Forex
  • Cryptocurrencies
  • Stock Indices
  • Precious metals
TYPE OF BROKER

ECN/STP

REGULATED BY
CySEC CySEC
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • cTrader
  • WebTrader
DEPOSIT METHODS
  • Bitcoin
  • Visa
  • Skrill
  • Neteller
Trading Conditions
  • Max. Leverage : 500:1
  • Min. Spread : 0.0 pips
  • Currency Pairs : 28
Account Spread From Commission Execution Min. Deposit
cTrader ECN 0.0 pips None Market $100 Account Details
MT4 Micro 0.4 pips None Market $100 Account Details
MT5 Pro 0.2 pips None Market $500 Account Details
Minimum Deposit
$500
TRADING INSTRUMENTS
  • Commodities
  • Forex
  • Metals
  • Indices
  • Stocks
TYPE OF BROKER

ECN/STP

REGULATED BY
CySEC CySEC
TRADING PLATFORMS
  • MetaTrader4
  • Sirix
  • WebTrader
DEPOSIT METHODS
  • Bank Transfer
  • Visa
  • Mastercard
  • Skrill
  • Neteller
Trading Conditions
  • Max. Leverage : 300:1
  • Min. Spread : 0.0 pips
  • Currency Pairs : 60+
Account Spread From Commission Execution Min. Deposit
Advanced Mark-Up 1.1 pips None Market $10,000 Account Details
Advanced RAW 0.0 pips $5.50 Market $10,000 Account Details
Basic 2.4 pips None Market $500 Account Details
Institutional Not Published Not Published Market Volume Based Account Details
Premium Mark-up 0.8 pips None Market $50,000 Account Details
Premium RAW 0.0 pips $4.00 Market $50,000 Account Details
Standard 1.4 pips None Market $5,000 Account Details
Minimum Deposit
$240
TRADING INSTRUMENTS
  • Commodities
  • Forex
  • ETFs
  • Indices
  • Stocks
TYPE OF BROKER

Market Maker

REGULATED BY
CySEC CySEC
TRADING PLATFORMS
  • MetaTrader4
  • Sirix
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Maestro
  • Neteller
  • Skrill
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 1.8 pips
  • Currency Pairs : Unknown
Account Spread From Commission Execution Min. Deposit
Gold 2.0 pips None Instant $5,000 Account Details
Islamic Not Published None Instant $10,000 Account Details
Mini 4.0 pips None Instant $500 Account Details
Platinum 2.0 pips None Instant $10,000 Account Details
Standard 3.0 pips None Instant $1,000 Account Details
VIP 1.6 pips None Instant $50,000 Account Details
Minimum Deposit
$100
TRADING INSTRUMENTS
  • Forex
  • Stocks
  • Indices
  • Cryptocurrencies
  • Commodities
  • ETFs
TYPE OF BROKER

Market Maker

REGULATED BY
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Neteller
  • Skrill
  • PayPal
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 0.7 pips
  • Currency Pairs : 50+
Account Spread From Commission Execution Min. Deposit
Retail 1.3 pips None Instant $100 Account Details
Professional 1.3 pips None Instant $100 Account Details
Minimum Deposit
$250
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indices
TYPE OF BROKER

Market Maker

REGULATED BY
FSCA FSCA
TRADING PLATFORMS
  • MetaTrader4
  • Sirix
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Neteller
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 200:1
  • Min. Spread : 1.5 pips
  • Currency Pairs : 47
Account Spread From Commission Execution Min. Deposit
Classic Not Published None Market $1,000 Account Details
Executive Not Published None Market $10,000 Account Details
Mini 1.5 pips None Market $250 Account Details
Premium Not Published None Instant $25,000 Account Details
Minimum Deposit
ZAR 1000
TRADING INSTRUMENTS
  • Forex
  • Commodities
  • Metals
  • Energies
  • Stocks
  • Crypto
  • Bonds
  • ETFs
  • Shares
  • Blends
TYPE OF BROKER

Market Maker

REGULATED BY
FSCA FSCA
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Maestro
  • Neteller
  • Skrill
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 300:1
  • Min. Spread : 0.9 pips
  • Currency Pairs : 50+
Account Spread From Commission Execution Min. Deposit
LIve 0.9 pips None Market R1,000 Account Details
Standard 0.9 pips None Market R1,000 Account Details
Minimum Deposit
$5
TRADING INSTRUMENTS
  • Forex
  • Commodities
  • Metals
  • Energies
  • Crypto
  • Bonds
  • Shares
TYPE OF BROKER

ECN/STP

REGULATED BY
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • UnionPay
  • Neteller
  • Skrill
  • Bitcoin
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 500:1
  • Min. Spread : 0.0 pips
  • Currency Pairs : 51
Account Spread From Commission Execution Min. Deposit
Micro 1.0 pips None Market $5 Account Details
Zero 0.0 pips $3.00 Market $200 Account Details
Auto 1.0 pips None Market $200 Account Details
Premium 1.0 pips None Market $100 Account Details
Minimum Deposit
$5
TRADING INSTRUMENTS
  • Commodities
  • Forex
  • Crypto
  • Metals
  • Indices
  • Oil
TYPE OF BROKER

Market Maker

REGULATED BY
FCA FCA
ASIC ASIC
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • UnionPay
  • Neteller
  • Skrill
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 1.1 pips
  • Currency Pairs : 80+
Account Spread From Commission Execution Min. Deposit
MT4 Pro Account 0.0 pips $7 STP $5 Account Details
MT4 Standard Account 1.0 pips None STP $5 Account Details
Minimum Deposit
$5
TRADING INSTRUMENTS
  • Forex
  • Metals
  • Indices
  • Commodities
TYPE OF BROKER

Market Maker

REGULATED BY
CySEC CySEC
FCA FCA
IFSC IFSC
TRADING PLATFORMS
  • xStation 5
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Bank Transfer
  • Visa
  • Mastercard
  • Skrill
  • Neteller
Trading Conditions
  • Max. Leverage : 200:1
  • Min. Spread : 0.1 pips
  • Currency Pairs : 48
Account Spread From Commission Execution Min. Deposit
Islamic 0.28 pips $10.00 Instant $5 Account Details
Pro 0.28 pips $4.00 Instant $5 Account Details
Standard 0.35 pips None Instant $5 Account Details
Minimum Deposit
£100
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indices
  • Shares
  • ETFs
TYPE OF BROKER

Pure STP

REGULATED BY
FCA FCA
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Bank Transfer
  • Visa
  • Mastercard
Trading Conditions
  • Max. Leverage : 500:1
  • Min. Spread : 0.0 pips
  • Currency Pairs : 68
Account Spread From Commission Execution Min. Deposit
Advanced Account 1.4 pips None STP $100 Account Details
Copy Trading 1.4 pips None STP $500 Account Details
Pro Account 1.0 pips None STP $5,000 Account Details

Should I Trade With MetaTrader 4?

So, you’re still not sure whether this is the right platform for you? Let’s run over some of the advantages and disadvantages of the platform.

Best MT4 Brokers

Metatrader 4 Advantages

It’s Free!

Yes, a fairly obvious one here – but a critical point. The platform is completely free of charge. If it weren’t we probably would never have seen the massive explosion in retail Forex trading in the 2000s and the industry would be a very different, and more restricted, space.

Mobile

I don’t mean it’s available on your phone/tablet, though it certainly is that too. What I mean by mobile, in this case, is that once you download the platform to your computer, it is yours. If you switch broker, it goes with you. It can also support multiple brokers and multiple accounts from the same broker. As your trading goals and needs change, you can move freely between brokers without worrying about losing any customised changes you made to your version of the platform. And speaking of customisation, that brings us on neatly to…

Expert Advisers

Probably the most popular feature of this platform is its ability to support user-defined Expert Advisors (EAs). Algorithms written in the MQL4 script, EAs are user-defined trading tools that allow traders to automate their trades within set parameters. These can be purchased from the MetaTrader Market and easily installed. As MQL4 is freely downloadable there is a large community of EA creators and hundreds of EAs to choose from, many of which are free, and if that’s not enough, you can always write your own.

Indicators

Much like EAs, indicators are algorithms made in MQL4. Unlike EAs, indicators will not automate your trades but rather feed you real-time technical analysis – leaving you to make the trading decision manually. There are over 2000 free indicators available in the MetaTrader Code Hube, and hundreds more have been created by the community and can be purchased in the MetaTrader Market.

Charts

Despite its age, it is still regarded as having one of the best charting tools of any trading platform. You can simultaneously open an unlimited number of charts, customise their appearance and apply various graphical objects and indicators to them. All charts are interactive, and you can zoom and scroll through them in real time.

Security

It is also famous for its security – all information between client and server is 128-bit encrypted, and it also supports RSA Digital Signatures.

Widespread Use

It is almost fifteen years old and is still the industry standard. Most brokers will offer it, and it is incredibly well supported – if you have a question, someone will have answered it – if you have a problem, someone will have solved it. There are many thousands of people who know the platform inside and out, and many of them have made videos or tutorials for pretty much every aspect of it. For beginners and experienced traders alike, this is a great advantage.

Not Resource/Bandwidth Intensive

Because of its age, it runs smoothly on all modern computers and will be happy on even ageing systems. Many proprietary platforms run in a browser using Flash, and system resource issues can occur, slowing down or crashing the platform – this is not ideal as seconds really can count in Forex trading. None of these issues exists with MetaTrader 4, even on your ageing laptop.

MetaTrader 4 Disadvantages

It’s old!

Yes, it looks like a program from 2005. If you are looking for something aesthetically pleasing this is not your platform – but if you are that concerned with how your platform appears then maybe you should re-examine your trading priorities.

It doesn’t like Macs

It can run on Macs but not without some effort. You must install a Windows emulator called Wine (a tool for Unix-based systems to run an application developed for Windows) along with fonts and the graphical interface. Wine is a great tool, but not necessarily the most stable and your experience can suffer as a result.

No News-feed integration

It lacks the integration of news and economic data.  On more modern platforms, traders can keep updated with the latest news affecting exchange rates without having to leave the platform.

It’s not Metatrader 5

MetaQuotes released the latest version of Metatrader (Metatrader 5 or MT5) in 2010. There are several essential differences between the two, but the significant functional change is that MT5 can support stocks, futures and commodity trading, whereas MT4 cannot. That said, MT5 is a more sophisticated platform – but if you are interested in trading these asset classes alongside Forex on a Metatrader platform, you don’t have a choice. Additionally, MT5 is finally seeing serious support from the industry, with some ditching the older sibling entirely in favour of the newer version. The jury is still out over whether this will become a trend, but it is something to keep in mind.

Conclusion

MetaTrader 4 is central for so many traders in their development towards becoming professional traders. It will be here for many years to come and will continue to help new traders launch a trading career. If you’re trying to get the most out of your charts, get focused without the distraction of fancy tools, then it remains a good candidate to satisfy 90% of all your trading needs.

If you’re interested in learning all trading features that this platform has to offer, please check out our complete guide to MetaTrader 4.

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.