Best Metatrader 4 Brokers in Canada for 2025

Metatrader 4: What is it?

Metatrader 4, developed by MetaQuotes Software and introduced in 2005, is a well-known trading platform primarily designed for Forex and CFD trading, catering to both retail and professional traders in Canada.

Its key features include real-time order execution, advanced technical analysis tools, support for manual trading, and the ability to automate strategies using trading robots known as Expert Advisors (EAs).

Metatrader 4 is widely compatible with a variety of regulated brokers, runs on multiple operating systems such as Windows and macOS, and is accessible via desktop applications, mobile apps (iOS and Android), and web interfaces.

The platform has maintained strong popularity regardless of newcomer alternatives, thanks to its simplicity, stability, and a robust ecosystem that offers custom indicators, trading bots, and an active user community.

Today, Metatrader 4 remains highly relevant for Canadian traders who seek a reliable, flexible, and resource-rich trading environment.

What is a Metatrader 4 broker

A broker Metatrader 4 in Canada is a regulated financial intermediary that connects traders to the Metatrader 4 platform, providing access to real-time market data, order execution, and the technical infrastructure required for online trading.

Such brokers bridge the gap between the trader and various financial markets, ensuring smooth operation of trades and platform features.

It is important to note that not all brokers support Metatrader 4, as specialized integration, licensing, and compliance are necessary.

• Trading accounts with secure login credentials granting direct access to Metatrader 4
• Access to a broad selection of trading instruments including forex, indices, commodities, cryptocurrencies, and stocks through CFDs
• Transparent conditions detailing spreads, available leverage, associated fees, and execution models
• Full compatibility with Metatrader 4’s features, such as automated trading with Expert Advisors, custom technical indicators, and various order types including conditional orders
• Dedicated customer and technical support focused on the Metatrader 4 platform and account management

Canadian traders often choose brokers offering Metatrader 4 because of its established reputation, user-friendly design, and powerful trading tools, which many find more adaptable and comprehensive than exclusive or proprietary platforms.

Why choose a broker offering Metatrader 4?

Opting for a broker that supports Metatrader 4 holds clear value for Canadian traders, due to the platform’s trusted reputation, reliable performance, and wide user base across various experience levels. Metatrader 4 is supported by many regulated brokers in Canada, providing a secure and transparent environment for trading. Its legacy, proven tools, and continual relevance make it a solid benchmark when comparing brokers and platforms.

Advantages

• ✅ Compatible with a large number of regulated Canadian brokers
• ✅ User-friendly interface, accessible to both beginners and advanced traders
• ✅ Robust charting features and technical analysis tools
• ✅ Full support for automated trading through Expert Advisors (EAs)
• ✅ Global online community and rich resources for learning and support
• ✅ Reliable performance and low latency execution
• ✅ Availability on desktop, web, and mobile devices for trading flexibility

Disadvantages

• ❌ Interface and design appear outdated compared to newer platforms
• ❌ Limited built-in risk management and portfolio analysis features
• ❌ Not all asset classes and instruments are available with every broker
• ❌ Fewer advanced security features like native two-factor authentication
• ❌ May require technical know-how for optimizing custom tools and automation

Summary

Metatrader 4 brokers remain an excellent choice for Canadian traders seeking a dependable, accessible, and feature-rich trading environment. The platform’s proven track record and broad compatibility continue to serve those looking for reliability and support in their trading operations.

The assets that can be traded with a Metatrader 4 broker

Brokers compatible with Metatrader 4 give Canadian traders access to a broad spectrum of asset classes, primarily through contracts for difference (CFDs). This approach allows speculation on the price movements of diverse financial instruments without owning the underlying assets, enabling both flexibility and exposure to global markets.

Currencies (Forex)

Metatrader 4 is especially popular for trading currency pairs as CFDs, enabling speculation on both major international pairs and those relevant to Canadian markets. The platform supports sophisticated charting tools and automated strategies.

• USD/CAD
• EUR/USD
• GBP/JPY

Stock indices

CFDs on stock indices give traders access to the performance of major equity markets. With Metatrader 4, you can speculate on movements in benchmarks like the S&P/TSX 60 and access global indices to diversify risk.

• S&P/TSX 60
• S&P 500
• NASDAQ

Commodities

Commodity CFDs are available for classic inflation hedges and market diversification. Metatrader 4 lets traders access and analyze these markets with a range of tools and indicators.

• Gold
• Oil
• Silver
• Natural Gas

Cryptocurrencies

Some brokers provide access to cryptocurrencies as CFDs, ideal for gaining exposure to volatile digital assets through Metatrader 4 without a dedicated wallet.

• Bitcoin
• Ethereum
• Litecoin

Stocks (CFD)

With CFD trading on stocks, traders can go long or short on shares from Canada and internationally, using Metatrader 4’s technology for order execution and risk management.

• Shopify
• Royal Bank of Canada (RBC)
• Apple
• Tesla

The stock offering varies according to the broker and licensing in Canada.

The Cost of Using Metatrader 4

For individual traders in Canada, Metatrader 4 is generally provided free of direct charge by most brokers. Access to the platform is usually obtained via a broker, and the costs associated with trading on Metatrader 4 primarily arise from the broker’s fee structure rather than fees applied by the platform itself.

In addition to standard trading fees set by brokers, traders using Metatrader 4 may encounter optional or extra costs related to customisation, automation, or premium features:

• Purchase or subscription of Expert Advisors (automated trading bots)
• Buying custom or premium indicators, scripts, or add-ons
• Renting a VPS (Virtual Private Server) to ensure continuous automated trading

Who Are Metatrader 4 Brokers For?

Brokers offering Metatrader 4 are suitable for a wide spectrum of trader profiles in Canada, from beginners just starting out to advanced professionals. This adaptability results from the platform’s flexible interface, straightforward accessibility, and its comprehensive set of analytical and automated features that support diverse trading needs.

Trader profiles

Metatrader 4 is particularly well-suited to active traders in the Forex and CFD markets, as well as those who rely on technical analysis. It may be less suitable for those seeking broad access to equities, options, or physical assets, as broker support for these through Metatrader 4 can be limited.

Compatible goals and strategies

In summary, Metatrader 4 stands out for its versatility and robust features, supporting a variety of trading styles and experience levels in the Canadian market.

What are the alternatives to Metatrader 4 brokers?

While Metatrader 4 remains a well-known reference platform in Canada, there are several alternatives developed by competing companies or brokers themselves. These other platforms may offer more modern functionality, direct access to Canadian or international spot markets, or a more visually driven or socially oriented trading experience, depending on the trader’s needs.

To remember

Metatrader 4 continues to be a versatile and robust platform in Canada, particularly appreciated by traders who rely on automation, custom scripts, and comprehensive FX/CFD access.

The Features of Metatrader 4

Metatrader 4 provides a real-time trading environment, letting traders execute orders at market prices with minimal delay. Its order management system enables effective risk control, featuring stop loss, take profit, and trailing stop options to manage trades efficiently.

For technical analysis, the platform comes equipped with a variety of built-in indicators, oscillators, and the possibility to import or create custom analytical tools. Charts are interactive and highly configurable, supporting multiple timeframes, varied chart types, and advanced drawing functions for precise analysis.

Automated trading is a standout feature, allowing users to create or acquire Expert Advisors and run them for hands-free trading; the built-in strategy tester facilitates robust backtesting. Traders can set up alerts for price movements, news, or indicator events, receiving notifications via sounds, email, or mobile app.

With multi-device compatibility, users can access their accounts seamlessly on desktop computers, through web-based terminals, or via dedicated mobile applications, ensuring flexibility no matter where they trade from.

This combination of robust tools and accessibility is why Metatrader 4 remains highly valued by both novice and experienced Canadian traders.

How to Open a Metatrader 4 Account

Opening a Metatrader 4 account requires selecting a broker in Canada that offers the platform. After your account is created with the broker, you will receive login credentials, which are used to connect to Metatrader 4 from your chosen computer or mobile device.

Tip

Start with a demo account to learn the features and interface of Metatrader 4 before switching to live trading.

How to Use Metatrader 4

Metatrader 4 is a complete platform designed for managing all trading operations, from analyzing assets to executing trades. This guide explains, step-by-step, how to use Metatrader 4 efficiently for trading activities in the Canadian market.

Search for an asset on Metatrader 4

• Open the “Market Watch” sidebar (Ctrl+M or found under “View”).
• Right-click inside the Market Watch window and select “Show All” to display every available instrument.
• To add a specific asset, right-click and select “Symbols,” then find and activate the asset you want to track.

Use indicators on Metatrader 4

• Access the “Insert” menu and select “Indicators.”
• Browse and choose standard indicators (such as MACD, RSI, Bollinger Bands, etc.) or custom ones if available.
• Adjust indicator settings according to your strategy.
• The selected indicator will appear directly on your open chart.
• To remove, right-click the indicator on the chart and choose “Delete Indicator.”

Place an order with Metatrader 4

• Click the “New Order” button or right-click the asset in Market Watch and select “New Order.”
• Enter the trade volume (lot size) appropriate for your strategy.
• Set your stop loss and take profit levels to manage risk.
• Choose the type of order:
• Market Execution (for instant orders)
• Pending Order (for delayed entries)
• Click “Buy” or “Sell” to execute the order.

Practical example

If you wish to buy the EUR/USD pair, open a new order, set volume to 0.10 lots, stop loss at 1.0850, and take profit at 1.0950. Once executed, the order will show in the “Trade” tab with all these parameters displayed for easy tracking.

Metatrader 4 also offers one-click trading, enabling you to open and close trades with a single click—beneficial for active traders such as scalpers who require speed in execution.

Our advice for choosing the best Metatrader 4 broker

Not all Metatrader 4 brokers are the same—traders should carefully compare a range of technical, financial, and regulatory factors. The aim is to select a reliable broker that matches both your trading strategy and your personal profile.

Tip

Go beyond marketing claims—analyze these criteria objectively, compare several brokers, and always test their services on a demo account before trading live.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.