Which is the best MT4 broker?
Verdict
- Pepperstone is our pick for MetaTrader 4: its Razor account averages 0.1 pips on EUR/USD with a $7 per-lot commission charged when the trade opens, plus Smart Trader Tools and expert-advisor support.
- In the UAE, Pepperstone offers MT4 on Razor only; its Standard account runs on MT5, cTrader and Pepperstone's own platform.
- Capital.com and XS also offer MT4; XS's Elite account is published at 0.1 pips on EUR/USD plus $6 round turn, from $500.
- Other MT4 brokers in our data that accept UAE residents include FP Markets, Tickmill, XM and CMC Markets; ADSS and Equiti also run MT4 under UAE CMA licences.
MetaTrader 4 is the same software at every broker; what changes is the price feed, the commission, the add-ons and the company behind your account. Pepperstone does best on those for a trader in the UAE, so it is our pick, as long as you open the Razor account, which is where its MT4 lives.
Pepperstone MT4: Razor pricing plus Smart Trader Tools
On MT4, Pepperstone charges its Razor commission as $7 per standard lot when the position opens, which equals its $3.50-per-side rate on other platforms, on top of a 0.1-pip EUR/USD average. Expert advisors run on MT4, and Pepperstone adds Smart Trader Tools, including Trade Terminal, Mini Terminal, Correlation Matrix and Trade Simulator. It also offers a free VPS to eligible and Pro clients, useful if your EA needs to run around the clock. In the UAE, MT4 is available on Razor but not on Standard, and the account can be held in AED from $10. UAE retail CFDs are issued by Pepperstone Markets Limited (SCB, Bahamas), with a DFSA-regulated group company in the DIFC.
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MT4 brokers compared
| Broker | MT4 account | EUR/USD | Minimum |
|---|---|---|---|
| Pepperstone | Razor (UAE) | 0.1 avg + $7 per lot | $10 |
| XS | Elite | 0.1 avg + $6 round turn | $500 |
| Capital.com | MT4 account | No fixed figure published | $20 |
| FP Markets | Raw | 0.11 avg + $3 per side | $100 |
| Tickmill | Raw | From 0.0 + $3 per side | $100 |
| CMC Markets | MT4 | From 0.5 (Standard) | No minimum listed |
| XM | MT4 | 'As low as zero' on its Zero account | $5 |
| ADSS (UAE CMA) | MT4 | From 0.7 on Elite+ | $100 (Classic) |
MT4 or MT5?
If you already run MT4 expert advisors or indicators, staying on MT4 avoids rebuilding them for MT5. If you are starting fresh, MT5 is available on more of Pepperstone's UAE accounts (Standard and Razor) at the same $3.50-per-side Razor rate, and cTrader is cheaper still for forex at $3.00 per side. MT4 is not going to make you a better trader; pick it for compatibility, not for features.
Checks before moving an EA to a new MT4 broker
- Symbol names: confirm how the broker labels gold and indices so your EA finds them.
- Commission handling: Pepperstone charges MT4 commission at opening, which some EAs need to account for in their profit targets.
- Leverage: Pepperstone's UAE retail limit is 1:200 on major pairs; adjust position-sizing code if you came from a higher limit.
- Run the EA on a small live balance before scaling, since fills differ from the strategy tester.
Sources
From the brokers' own pages.
Does Pepperstone offer MT4 on the Standard account in the UAE?
No. On Pepperstone's UAE site, MT4 is listed for Razor only; Standard runs on MT5, cTrader and Pepperstone's own platform.
Is MT4 more expensive than cTrader at Pepperstone?
Slightly, for forex: $7 per lot on MT4 against $6 round turn on cTrader.
Can I run expert advisors at Pepperstone?
Yes, on MT4 and MT5. Pepperstone also offers a free VPS to eligible and Pro clients.
Trading CFDs on MetaTrader is high risk: they are complex, leveraged products and automated strategies can lose money quickly. Commissions and minimums are as brokers publish them. This is information only, not investment advice.