Which broker is best for MetaTrader 4 in the UK?
Verdict
- Pepperstone is our pick for MetaTrader 4 in the UK: it offers MT4 on Razor CFD and spread-betting accounts, adds its Smart Trader Tools add-ons, and provides a free VPS to eligible and professional clients, under FCA regulation.
- Note the account limit: Pepperstone's Standard CFD account does not include MT4.
- On Razor, Pepperstone charges MT4 commission when a position opens — $7 per lot in a USD account, or from £2.25 per side in GBP — on top of raw spreads from 0.0 on EUR/USD.
- Capital.com, IG, CMC Markets, FOREX.com and StoneX also offer MT4 to UK clients.
MT4 is still the default for many UK forex traders because of the expert advisors and indicators built for it. What separates brokers is the account behind the terminal: pricing, extras and whether you can spread bet through it. On those, Pepperstone is our pick. Here is the detail, plus the UK alternatives.
Why we pick Pepperstone for MT4
Pepperstone Limited (FCA 684312) makes MT4 available on two UK accounts: Razor, its raw-spread CFD account, and its spread-betting account, where you stake in pounds per point with no commission. Being able to spread bet through MT4 is the main reason it tops our list. It also adds Smart Trader Tools — Trade Terminal, Mini Terminal, Correlation Matrix and Smart Lines among them — and offers a free VPS to eligible and professional clients, so expert advisors keep running when your computer is off.
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What MT4 costs at Pepperstone
- Razor (USD account): raw spreads, EUR/USD from 0.0 with a published average of 0.1 pips, plus $7 per standard lot charged when the position opens.
- Razor (GBP account): commission from £2.25 per lot per side.
- Spread betting on MT4: no commission; published minimum spreads include 0.5 on EUR/USD and 1 on UK100.
- Standard CFD: no MT4. Use MT5 or cTrader if you want Standard's commission-free pricing.
Other UK brokers offering MT4
FOREX.com UK and StoneX Trading are both trading names of StoneX Financial Ltd, so they share one FCA number.
| Broker | FCA ref. | Minimum deposit (UK) | Also offers |
|---|---|---|---|
| Pepperstone | 684312 | £10 | MT5, cTrader, TradingView, own platform |
| Capital.com | 793714 | 20 GBP | MT5, TradingView, own platform |
| IG | 195355 | No minimum by bank transfer, £1 by card (an older IG table says £250) | MT5, ProRealTime, L2 Dealer, TradingView |
| CMC Markets | 173730 | No minimum (per our data) | Next Generation platform |
| FOREX.com UK | 446717 | £100 | Web Trader, TradingView |
| StoneX Trading | 446717 | No minimum; £100 per card deposit | Web Trader, TradingView |
Before you move your EAs to a new MT4 broker
- Check the account type: an EA built for a commission-free account will report costs differently on Razor, where commission is charged on opening.
- Run the EA on the smallest size first; Pepperstone's £10 card minimum lets you test the set-up with little at stake.
- Check margin: Pepperstone UK retail leverage is 1:30 on major FX, 1:20 on major indices and gold, so position sizing coded for higher leverage will fail.
- Confirm you qualify for the free VPS if your strategy needs to run around the clock.
Sources
As published by each broker.
Can I use MT4 with a Pepperstone Standard account in the UK?
No. In the UK, MT4 is offered on Razor and spread-betting accounts. The Standard CFD account runs on MT5, cTrader and Pepperstone's own platform.
Can I spread bet on MT4?
Yes, at Pepperstone. Its UK spread-betting account supports MT4, along with MT5, TradingView, cTrader and its own platform.
Does Pepperstone offer a free VPS for MT4?
Pepperstone offers a free VPS to eligible and professional clients. Check the qualifying conditions before relying on it.
Leveraged products such as CFDs and spread bets carry a high risk of rapid losses. Pepperstone's UK disclosure: 73.6% of retail investor accounts lose money with this provider. Make sure you understand how these products work before trading. Not investment advice.