UAE Best MT4 Brokers

Our list of the Best UAE forex broker offering MT4 are:

Broker Review Our Rating Regulation Standard
EUR/USD
Spread
Standard
GBP/USD
Spread
Standard
AUD/USD
Spread
Raw
EUR/USD
Spread
Raw
GBP/USD
Spread
Raw
AUD/USD
Spread
Commissions
(USD Base)
MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage Visit Broker
98 ASIC, FCA
CySEC, DFSA
1.10 1.40 1.20 0.10 0.40 0.20 $3.50 77ms $0 62+ 12+ 30:1 500:1 Visit Site
85 ASIC, FSA-S
CySEC
0.62 0.83 0.77 0.02 0.23 0.17 $3.50 134ms $0 61+ 18+ 30:1 500:1 Visit Site
80 ASIC,CySEC
FSCA,FSA-S,FSC-M
1.1 1.3 1.3 0.10 0.20 0.20 $3.00 225ms $100 70+ 10+ 30:1 500:1 Visit Site
82 ASIC, VFSA, FSA-S 0.93 1.08 0.92 0.13 0.21 0.12 $2.25 79ms $0 90+ 10+ 500:1 500:1 Visit Site
64 ASIC, FSCA
CBI, KNF, CIRO
ADGM, FSC-BVI
- - - - - - - 160ms $100 55+ 15+ 30:1 400:1 Visit Site

1. PEPPERSTONE Best UAE MetaTrader 4 Forex Broker

PEPPERSTONE

Forex Panel Score

98

Average Spread

EUR/USD = 0.1
GBP/USD = 0.4
AUD/USD = 0.2

Trading Platforms

MT4, MT5, cTrader,
TradingView

Minimum Deposit

$0

Why We Recommend Pepperstone

Pepperstone impressed us with minimal spreads, averaging just 0.1 pips for EUR/USD in the Razor account. The MetaTrader 4 platform, favoured by Pepperstone, offers versatile tools like Expert Advisors for automation and custom indicators creation.

Third-party tools, such as Smart Trader Tools and Figaro by FX Blue, enhance your MT4 experience with suites of EAs and indicators. If you are seeking automated trading without coding expertise, Capitalise provides a user-friendly solution.

Pros & Cons

  • Tight spreads
  • Fast execution speeds
  • Good CFD product range
  • No additional fees
  • Additional tools
  • Lacks guaranteed stop-loss orders
  • Some CFDs are not available on MT42
  • A demo account only lasts 90 days
  • Live chat is only 24/5

Broker Details

With its fast execution speeds, competitive spreads and excellent trading tools, we think Pepperstone has the best MT4 trading environment in the UAE. We have highlighted our testing results for all three major factors below.

FAST EXECUTION SPEEDS USING MT4

We tested the execution speeds of 20 top brokers using the MetaTrader 4 trading platform and Pepperstone came out as the fastest UAE-regulated broker overall. Using limit and market orders, we found Pepperstone had an execution speed of 77 milliseconds for limit orders and 100 milliseconds for market orders, placing it third overall and number 1 in the UAE.

With fast execution speeds using MT4, we found Pepperstone was able to reduce our slippage costs and ensure smoother trading execution with less lag time between order placement and execution.

Broker Overall Limit Order Speed Limit Order Rank Market Order Speed Market Order Rank
Pepperstone 3 77 2 100 5
Axi 8 90 4 164 16
FxPro 12 151 16 138 9
Admiral Markets 15 132 9 182 18
IG Group 17 174 19 141 11
XM 19 148 14 184 19
ThinkMarkets 20 161 18 248 20

COMPETITIVE MT4 SPREADS

Both of Pepperstone’s two main retail investor account types offer competitive spreads. From our analysis, Pepperstone offers low spreads of 1.12 pips on its Standard account (commission-free) and 0.1 pips on its Razor (commissions of $3.50 per side) account for the EUR/USD.

When we tested both accounts using MT4, we found Pepperstone was one of the most competitive in the UAE, averaging 1.46 pips on the Standard account and 0.36 pips on its Razor account the 5 major currency pairs. This put it third, just behind Fusion Markets and IC Markets who both had marginally tighter spreads overall.

As highlighted below, we’ve shown how Pepperstone’s Razor spreads compare favourably to other brokers in the UAE.

Pepperstone Razor Account: Average Spreads
0.10 0.20 0.40 1.00 0.60
0.50 0.70 0.60 0.80 0.80
0.30 0.50 0.50 0.50 0.60
0.44 1.23 1.13 1.23 1.41
0.52 0.80 0.86 1.11 1.13
0.20 0.40 0.50 0.70 0.70
n/a 0.50 0.60 0.40 0.30

Avg. spreads are taken from each broker's website and updated monthly. Last update on 06/01/2024

EXCELLENT METATRADER 4 (MT4) TRADING TOOLS

As the gold standard of retail forex trading platforms, Pepperstone offers a supreme MT4 trading experience with charting tools (including 34 technical indicators), EAs (for algorithmic trading) and backtesting functionality.

Where Pepperstone stands out, however, is in its additional 28 technical indicators and Expert Advisors via the broker’s Smart Trader Tool add-ons. When testing, we particularly enjoyed using the Pivot Point tool which gave us a quick overview of where the resistance and support levels were and helped us set effective take profit and stop loss orders.

Pepperstone also offers a great diversity of standalone platforms (cTrader, Capitalise.ai, TradingView and MetaTrader 5) and auto trading/copytrading tools (Autochartist, DupliTrade, and Myfxbook).

pepperstone account international 1 pips

Pepperstone ReviewVisit Pepperstone

Broker Screenshots

2. IC Markets Top ZuluTrade MT4 Broker

IC Markets

Forex Panel Score

85

Average Spread

EUR/USD = 0.02
GBP/USD = 0.23
AUD/USD = 0.17

Trading Platforms

MT4, MT5, cTrader, TradingView

Minimum Deposit

$200

Why We Recommend IC Markets

IC Markets stands out to us for its tight spreads and an excellent range of trading platforms such as MT4, MT5, cTrader, TradingView and ZuluTrade.

In our opinion, ZuluTrade is the best platform to use. It will mirror your account for free, and provides other benefits like:

  • Access to a wide range of trading strategies
  • Ability to follow and copy the trades of experienced traders
  • Risk management tools and performance monitoring

Our tests showed that IC Markets have among the lowest spreads of all brokers averaging just 0.02 for EUR/USD with their RAW spread account.

Pros & Cons

  • Competitive spreads
  • Useful third-party tools
  • Social and algorithmic trading
  • Fast execution speeds
  • Withdrawal fees
  • High minimum deposit
  • Slow live chat support
  • Offers limited market analysis resources

Broker Details

TOP ZULUTRADE BROKER

Not only is IC Markets one of the best MetaTrader 4 (MT4) brokers we’ve traded with, it also offers ZuluTrade, one of the most popular third-party copy trading platforms globally, with over 2.4 million registered users.

ZuluTrade combines copy and social trading features that help you automate trading, save time plus expand your forex knowledge. The software’s copy trading features allow you to easily copy trading signals developed by various ZuluTraders.

When testing, we found ZuluTrade provides three unique social trading tools: Zulu Guard, Zulu Rank and Simulation. Zulu Guard’s ability to disable a trader when the losses deviated from its expected loss profile, gave us a level of capital protection to our trading account while trading.

We particularly liked Simulation, a risk management tool in which we could test our trading strategies against real-time market conditions to forecast our potential profits and losses.

MT4 ADVANCED TRADER TOOLS

IC Markets supercharges your MT4 platform experience by offering the MetaTrader upgrade, MT4 Advanced Trader Tools, 20 exclusive trading tools not available on the standard MT4 platform.

From our testing, we loved the Trade Terminal, which neatly summarises your account info and order list with a market watch trading widget in one window. To initiate the Trade Terminal, all we had to do was open a chart for any symbol in MT4 and add the EA Trade Terminal to that chart.

LOWEST TESTED MT4 SPREADS

IC Markets offers the lowest spreads in both of its live accounts of any broker we’ve tested. When testing IC Markets’ spreads across its Standard account and RAW Spread account using MT4, the broker averaged spreads of 1.03 pips and 0.32 pips respectively.

This put IC Markets at number 1 for Standard accounts and 3rd for RAW/ECN-like accounts, overall. Only Fusion Markets and City Index had tighter spreads for their RAW account types.

Broker Screenshots

3. FP Markets Top Myfxbook Autotrade MT4 Broker

FP Markets

Forex Panel Score

80

Average Spread

EUR/USD = 0.1
GBP/USD = 0.2
AUD/USD = 0.2

Trading Platforms

MT4, MT5, cTrader, TradingView

Minimum Deposit

$50

Why We Recommend FP Markets

We think FP Markets offers impressive spreads (Averaging just 0.1 pips for the EUR/USD pair with the RAW spread account) making the broker a good choice for scalp trading.

However, what we like the most about FP Markets is that it provides access to Myfxbook Autotrade with MetaTrader4. Myfxbook is a social and copy trading platform that allows action in the same trade as the best signal providers in the Myfxbook network.

Pros & Cons

  • Wide range of trading products
  • Tight spreads
  • Fast execution speeds
  • Useful third-party tools
  • Range of trading platforms
  • Basic mobile trading app
  • A limited selection of FX pairs
  • High minimum deposit
  • Outdated web and desktop platform

Broker Details

MYFXBOOK AUTOTRADE HAS QUALITY SIGNALS TRADING

FP Markets offers Myfxbook AutoTrade, which is an account mirror trading service, where you can copy trades of successful providers and access an established social forex community.

When testing Myfxbook AutoTrade, we found we could copy different trading systems via our MT4 account, meaning we only needed one master account for MT4 and copy trading.

Additionally, we found it easy to add and remove trading systems at any point, giving us full control of our copy trading account. The fact that incentives are only given to signal profitable providers also gave us a better chance at successful copy trading. That and the fact that only realistic statistics are shown (I.E. no bottomless “drawdowns”) meant we could disseminate the most important info to make an informed decision on what trading strategy to copy.

FAST MARKET EXECUTION SPEEDS

From our testing of FP Markets’ MT4 platform, the broker achieved fast execution speeds of 96ms for market orders, making it the 4th fastest broker overall and 2nd behind Fusion Markets on this list.
We found FP Markets’ fast execution speeds helped us reduce slippage and ensured a smoother MT4 trading experience, whether we were CFD trading or copy trading.

LOW ECN/RAW SPREADS FOR MT4

We were able to keep our MT4 trading costs low using FP Markets’ RAW account, which has commissions of $3 per side (one of the cheaper charges) as well as average spreads of 0.22 pips across the 5 major currency pairs.

This put the broker at 5th lowest spreads overall for a RAW account type from a list of nearly 50 top brokers.

Broker Screenshots

4. FUSION MARKETS Top MT4 Forex Broker With Duplitrade

FUSION MARKETS

Forex Panel Score

82

Average Spread

EUR/USD = 0.13
GBP/USD = 0.21
AUD/USD = 0.12

Trading Platforms

MT4, MT5, cTrader

Minimum Deposit

$0

Why We Recommend Fusion Markets

We think Fusion Markets is a top MT4 broker as it offers Duplitrade for automated trading, and has additional charting and risk management tools available to enrich your experience.

Ross Collins tested the broker’s spreads and found they average just 0.22 for EUR/USD with their Zero spread account and have market order execution speeds of 77 ms.

These low spread and speeds provide the ideal platform to use DupliTrader and copy the best signal providers in the network.

Pros & Cons

  • Fast execution speeds
  • Tight spreads
  • Low trading costs
  • Variety of strategies to use on DupliTrade
  • 24/7 customer service
  • Inactivity fee
  • Currency conversion fee
  • Limited product selection
  • No investor protection

Broker Details

DUPLITRADE FULLY INTEGRATED WITH MT4

Fusion Markets offers DupliTrade, which is an automated trading solution that is fully integrated with MT4 where you can easily copy traders with years of experience and successful trading histories.

We found signing up for DupliTrade and linking the copy trading service to our Fusion Markets MT4 account to be a simple process. Compared to other brokers that require initial deposits as high as $2000 to use DupliTrade, Fusion Markets clients only need to make a minimum deposit of $1000.

Once we registered with Fusion Markets and DupliTrade, we found searching for trading strategy providers a breeze with key performance statistics that helped us choose which CFD and forex traders to copy.

Alongside the standard performance figures of signal providers, we were particularly impressed with the charts that gave us a visual representation of each provider’s trading history, summarising key performance data neatly and aesthetically.

FAST MT4 EXECUTION SPEEDS

From our testing, Fusion Markets had the second fastest MT4 execution speeds of any broker we tested. In fact, Fusion Markets was the only broker we tested that achieved speeds under 80ms for both limit and market orders.

Only BlackBull Markets and Pepperstone had faster execution speeds for limit orders (72 and 77 ms respectively), but Fusion Markets had the fastest market execution speeds of any broker at 79ms.

LOW TRADING COSTS FOR MT4 TRADING

Alongside fast execution speeds, Fusion Markets also boasts low trading costs across both of its accounts from our testing using MT4.

While the broker’s Classic (commission-free) account had the third lowest spreads from our testing (at 1.19 pips across the major currency pairs), it was Fusion Markets’ Zero (commission-based) account that impressed us.

Not only did Fusion Markets’ Zero Account have the lowest spreads from our testing, averaging 0.22 pips for the USD-backed majors, but it also had the lowest commission charges we’ve seen of AUD $2.25 per side (or $4.50 round-turn).

Broker Screenshots

5. AVATRADE Great MT4 Copy Trading Software With MQL5

AVATRADE

Forex Panel Score

64

Average Spread

EUR/USD = 0.9
GBP/USD = 1.5
AUD/USD = 1.1

Trading Platforms

MT4, MT5, AvaTradeGo,
AvaOptions

Minimum Deposit

$100

Why We Recommend AvaTrade

Our take on AvaTrade is that it’s a great broker with a range of trading platforms and financial marketplaces. The extensive educational materials also make it suitable for beginners.

You’ll have a choice of four trading platforms:

  • AvaTrade WebTrader
  • AvaTradeGO
  • MetaTrader 4
  • MetaTrader 5

While all these platforms have their merits, we would personally use MT4 as you’ll get the most out of AvaTrade’s MLQ5 trading signals service by using it.

 

Pros & Cons

  • No withdrawal fee
  • Range of trading platforms
  • Educational materials
  • Good trading product selection
  • Fast execution speeds
  • Inactivity fee
  • Currency conversion fee
  • AvaProtect and AvaOptions unavailable on MT4
  • Spreads could be better

Broker Details

FULL INTEGRATION OF MQL5 TRADING SIGNALS SERVICE

While AvaTrade offers a good range of third-party platforms and proprietary platforms, to make the most out of the MLQ5 Trading Signals service, we recommend using MT4 from our testing.

MQL5 Trading Signals gives you access to one of the largest automated trading communities worldwide, which can be fully integrated with MT4, allowing you to manually trade and copy trade from a single trading platform.

To link your AvaTrade MT4 account with the trading signals service, you can sign up at MQL5.com or on the broker’s website.

Once you are set up with MQL5 and MT4, you can easily find signal providers to copy based on criteria such as past performance and risk. We particularly liked how effortlessly we could find trading systems and forex signals to copy via the MT4 signals tab, while the community tab gave us access to a huge network of forex traders.

STABLE FIXED SPREAD MT4 TRADING

As a fixed spread broker, AvaTrade offers stable spreads to keep your trading costs consistently low. From our testing using MT4, we found the broker averaged spreads of 0.9 pips for EUR/USD. As a result, AvaTrade offers the lowest spreads compared to other fixed-spread brokers in the UAE like HYCM and FxPro.

Broker Screenshots