MetaTrader 4 (MT4) is one of the most widely used trading platforms for forex and CFD traders, thanks to its Expert Advisors (automated trading), custom indicators and simple charting. Not every broker offers it, and some offshore brokers use MT4 to attract UK traders without FCA authorisation. These are the best MT4 brokers in the UK in October 2026, all authorised and regulated by the Financial Conduct Authority (FCA):
- Pepperstone: best for low-cost FX on MT4, with spread betting and CFDs.
- IG: best for MT4 spread betting from a long-established UK provider.
- CMC Markets: an MT4 account for FX, indices and commodities from a London-listed broker.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 69% and 73.6% of retail investor accounts lose money when spread betting and trading CFDs with the providers in this article. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Best MT4 brokers in the UK compared
| Broker | MT4 products | EUR/USD spread | FCA FRN | Losing accounts |
| Pepperstone | Spread bets and CFDs | From 0.6 points (Standard), from 0.0 plus commission (Razor) | 684312 | 73.6% |
| IG | Spread bets and CFDs | From 0.6 pips | 195355 (IG Markets), 114059 (IG Index) | 70% |
| CMC Markets | FX, indices and commodities (separate MT4 account) | Variable | 173730 | 69% |
Sources: Pepperstone, IG and CMC Markets, October 2026. FCA rules cap retail leverage at 30:1 on major currency pairs.
Best MT4 brokers in the UK
1. Pepperstone
Pros:
- Spread betting and CFDs on MT4, MT5, cTrader and TradingView
- Razor account with raw FX spreads from 0.0
- More than 90 FX pairs
Cons:
- Fewer markets than IG
- No real shares or ISA
Pepperstone was founded in Melbourne in 2010 and specialises in forex and CFDs. On MT4, UK clients can trade CFDs or spread bets on more than 90 FX pairs, 20+ indices, 40 commodities and over 1,100 shares.
The Standard account has no commission on FX, commodities and indices, with FX spreads from 0.6 points. The Razor account offers raw FX spreads from 0.0 plus a commission from £2.25 per lot per side, which suits scalpers and Expert Advisors. Positions held after 10pm UK time pay an overnight fee. Pepperstone Limited is authorised and regulated by the FCA (FRN 684312).
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
2. IG
Pros:
- Spread betting and CFDs on MT4, with the same minimum spreads
- Trade sizes from 0.01 lots
- No inactivity fee and free deposits and withdrawals
Cons:
- MT4 covers fewer markets than IG’s own platform
- Overnight admin fee of 3.4% a year on non-FX positions
IG was founded in London in 1974. On MT4, UK clients can spread bet or trade CFDs on more than 50 FX pairs, 14 indices and 27 commodities, with trade sizes from 0.01 lots and EUR/USD spreads from 0.6 pips. IG’s own platform gives access to more than 17,000 markets if you want more than MT4 offers.
IG doesn’t charge an inactivity fee, and deposits and withdrawals are free. Spread betting is provided by IG Index Ltd and CFDs by IG Markets Ltd, both authorised and regulated by the FCA.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
3. CMC Markets
Pros:
- Listed on the London Stock Exchange
- Lowest share of losing retail accounts in this list (69%)
- More than 12,000 instruments on its own platform
Cons:
- MT4 needs a separate account
- MT4 only covers FX, indices and commodities
CMC Markets was founded in London in 1989. Its main platform offers spread betting and CFDs on more than 12,000 instruments, and it also offers MetaTrader 4 through a separate account, which covers forex, indices and commodities. CMC Markets UK plc is authorised and regulated by the FCA (FRN 173730).
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
How to choose an MT4 broker
- FCA authorisation: check the broker on the FCA register. Many offshore brokers offer MT4 with leverage of 500:1 or more, but you lose the Financial Ombudsman Service and FSCS protection.
- Spread betting or CFDs: spread betting profits are currently free of Capital Gains Tax in the UK. Pepperstone and IG offer both on MT4.
- Costs: compare spreads, commissions on raw accounts and overnight funding.
- Markets on MT4: some brokers offer fewer markets on MT4 than on their own platforms.
Conclusion
Pepperstone is our top MT4 broker for UK traders, with spread betting and CFDs, more than 90 FX pairs and raw spreads from 0.0 on the Razor account. IG suits traders who want MT4 spread betting from a provider founded in 1974, and CMC Markets offers a separate MT4 account from a London-listed broker. Whichever you choose, start on a demo account and remember that between 69% and 73.6% of retail accounts lose money with these providers.
FAQs
Can you make money with MT4?
MT4 is only a platform: your results depend on your strategy and risk management. Most retail traders lose money with leveraged products, so start on a demo account.
Is MT4 good for beginners?
MT4 is fairly simple to use, but its design is dated and it’s built for leveraged trading. Beginners should learn on a demo account first.
Do I need to pay to use MT4?
No. Brokers offer MT4 for free, but you pay their trading costs, such as spreads, commissions and overnight funding.
Is MT4 trading tax free?
It depends on the product, not the platform. Spread bets placed on MT4 are currently free of Capital Gains Tax in the UK. CFD profits are subject to Capital Gains Tax.
Is MetaTrader 4 safe?
The platform itself is widely used, but your safety depends on the broker. Use an FCA-authorised broker, turn on any security options and be wary of anyone selling Expert Advisors that promise guaranteed profits.
Can you use MT4 with eToro?
No. eToro uses its own platform. See the MT4 brokers above.
Can you use MT4 with Interactive Brokers?
No. Interactive Brokers uses its own platforms, such as Trader Workstation.
Can you use MT4 with Plus500?
No. Plus500 uses its own platform.
Can you use MT4 with Hargreaves Lansdown?
No. Hargreaves Lansdown doesn’t offer leveraged trading. See our Hargreaves Lansdown alternatives.