8 Best MT4 Brokers in the UK (2026)

Axi Financial Services (UK) Limited (FCA FRN 466201) is the cheapest way to trade MT4 in this set at the basis below, about £44.14 a month. Its binding UK Product Schedule, effective 14 April 2026, sets £3.50 per standard contract for a GBP account, charged in the account currency, and its Pro account tested at a 0.10 pip three-pair average.

Two things are worth knowing before the headline sells it. Axi publishes that £3.50 as a round turn on its trading-accounts page and as a per-contract charge in the schedule, so we quote the round turn and never a per-side figure. And its free VPS is advertised on the UK tables with no UK terms published anywhere: the binding schedule does not mention VPS at all, and the only terms that exist sit on non-UK properties describing two different products. Treat it as unevidenced rather than as a benefit.

Vantage Global Prime LLP (FCA FRN 590299) charges £1.00 per lot per side on Raw ECN and £0.75 on Premium ECN, billed in the account's base currency rather than converted. No other broker in the tested set charges less. That puts it second at about £51.59 a month, and its EUR/USD tested at 0.08 pips, the tightest single-pair capture on this page.

What holds it at second rather than first is the rest of the pair set: EUR/GBP tested wide at 0.74 pips, lifting the three-pair average to 0.34 and costing it the top spot on a basis that prices all three. Note also that Vantage publishes its VPS terms twice under two different legal entities, and only the PDF headed Vantage Global Prime LLP is the UK one; the live in-nav page is headed by an offshore entity with different thresholds.

Pepperstone Limited (FCA FRN 684312) comes third on cost at about £59.09 a month, with a fixed, published £2.25 per side on MT4 and a 0.17 pip three-pair tested average. The commission is a genuine GBP rate rather than a conversion, which two of the brokers above cannot say.

The reason to pay a little more than Axi or Vantage is that the same Razor account carries MT5, cTrader and TradingView, and no other broker here matches that on one raw account. FxPro runs four platforms too, but its TradingView link works only through the cTrader account types, so a MetaTrader client there does not get all four. One caveat that follows from the same breadth: the Razor commission is £2.25 on MT4 and MT5 but US$3.00 on cTrader FX and US$3.50 on TradingView, so it is a per-platform figure rather than one account rate.

Tickmill UK Ltd (FCA FRN 717270) runs a deliberately narrow offer: two accounts, Classic and Raw, and MetaTrader on both. The Raw account tested at 0.1 pips on EUR/USD and a 0.30 pip three-pair average, for about £71.23 a month.

The commission needs reading carefully. Tickmill publishes US$3.00 per lot per side, US$6.00 round turn, and states it as "the equivalent amount in the currency of your account" without publishing a GBP rate. The roughly £2.25 that works out at is a conversion at our recorded July 2026 rate, not a fixed sterling price, and it moves. Note also that the UK entity has no VIP or Pro tier: those URLs now redirect to the Raw account page.

FxPro UK Limited (FCA FRN 509956) is the one broker on this page that lets you pick your pricing model rather than your account tier: Raw+ from 0.0 pips plus commission, or Standard with the cost inside a wider spread and no commission line. Raw+ tested at a 0.62 pip three-pair average for about £104.39 a month.

Cost is where it slips down this page. The US$3.50 per side is the highest commission we price here, it is quoted in dollars on a sterling account, and the tested spread is wider than the leaders. FxPro also runs cTrader and TradingView, but the TradingView connection is gated to the cTrader account types, so opening MT4 here does not get you all four platforms.

TF Global Markets (UK) Limited (FCA FRN 629628) prices ThinkZero at £2.50 per lot per side, which is a native sterling rate and cheaper than four of the brokers above it. The reason it still finishes last of the priced set is the spread: a 0.92 pip three-pair tested average, more than five times Axi's, which puts the all-in cost at about £125.85 a month.

This is the clearest case on the page for pricing the spread and the commission together rather than shopping on the commission line. ThinkTrader, the broker's own platform, is available as a backup, and ThinkMarkets states the same commission as both US$2.50 and £2.50 on its own account page, so confirm the billing currency when you open.

Swissquote Ltd (FCA FRN 562170) is the only bank-owned broker on this page, and it describes its MetaTrader offer as carrying "unrestricted automated trading capabilities" rather than the qualified permissions most of this set publishes. Four tiers run MT4 with no tier restriction, and Elite, the tightest of them, tested at 0.3 pips on EUR/USD.

It sits outside the ranked list because it charges no FX commission on any tier. That is not a criticism, it is a different pricing model: the whole cost is in the spread, so there is no second cost line to add and no like-for-like comparison with the raw accounts above. What does count against it is the entry cost, £1,000 for Premium rising to £10,000 for Elite, so the tightest spread is also the hardest to reach. If you want TradingView too, read the trade-off on our TradingView page first, because at Swissquote it is mutually exclusive with expert advisors.

CMC Markets UK plc (FCA FRN 173730) puts the most into MT4 itself of any broker on this page: twelve premium expert advisors included at no cost, and hedging offered specifically so automated strategies are not closed out by a netting rule. FX Active is the commission-based route, tested at a 0.75 pip three-pair average.

It is not cost-ranked here because the commission is charged against notional rather than lot size, at US$2.50 per US$100,000 per side. One standard lot of EUR/USD is EUR 100,000, so what you actually pay moves with the EUR/USD rate and matches the headline only at one particular level. CMC's own materials state the rate two ways as well: the website gives 0.0025% charged twice, on opening and closing, while its binding June 2026 document gives 0.0050% charged once on opening. The two reconcile to the same total and the site never mentions the second rate. CMC's UK entity offers no VPS at all, though it publishes VPS pages for Canada and Singapore.

Admiral Markets UK Ltd (FCA FRN 595450) is a MetaTrader-first broker and gets more out of MT4 than most of this page, through the Supreme Edition plugin and two account types covering both pricing models: Trade.MT4 for spread-only and Zero.MT4 for raw plus commission. Its Zero tested at a 0.37 pip three-pair average, which is competitive.

What keeps it off the ranked list is the commission shape. Admirals prices between US$1.80 and US$3.00 per lot per side depending on monthly volume, with no native GBP rate, so the cost comparator declines to reduce it to one figure rather than averaging a tier structure into a number no trader actually pays. If your volume is steady and known, price it directly against the ranked brokers above using your own tier.

FXCM, trading as Stratos Markets Limited (FCA FRN 217689), pairs MT4 with its own Trading Station platform and a TradingView connection, which is a genuinely deep charting stack around MetaTrader. EUR/USD tested at 0.2 pips on the Active Trader account.

It is unranked here because the pricing does not reduce to the per-lot figure this page compares on. FXCM publishes no advertised minimum spread, quoting an average instead, and its commission runs on volume tiers. Spread-only pricing also tends to cost more the more often you trade, so benchmark it against the ranked accounts above at your own frequency rather than on the headline.

IG Markets Limited (FCA FRN 195355) offers MT4 for both spread betting and CFDs, with the longest UK regulatory record of any broker on this page, trading since 1974. Its VPS is a genuine benefit at volume: Beeks in London, free above a £5,000 MT4 balance and £50 a month below it.

It is unranked because there is no raw account here to price. IG charges no commission on retail FX and puts the whole cost in the spread, which tested at 1.13 pips on EUR/USD, so a page ranking raw accounts has nothing comparable to rank. Worth knowing separately: IG added MT5 for UK clients around March to April 2026 and it is still missing from IG's own footer and compare-accounts table, so most comparison sites still say it does not exist.

OANDA Europe Limited (FCA FRN 542574) runs MT4 as a v20 sub-account, with a spread-bet-enabled variant available, and permits expert advisors subject to a terms-of-business restriction on ultra-high-speed and mass data entry without written consent.

Two scope limits are worth carrying into a comparison. There is no raw account, so the whole cost is the spread. And OANDA's MT4 and MT5 hold different instrument universes rather than being an upgrade path: MT4 has bonds but no shares or ETFs, and MT5 is the other way round. OANDA Europe also offers no VPS at all; every UK VPS URL 404s.

Capital Com (UK) Limited (FCA FRN 793714) runs MT4 as a separate CFD-only sub-account with its own credentials and server, and places no restriction on expert advisors beyond a performance disclaimer. The minimum deposit is a flat £20.

It is unranked because there is no commission to add: the cost is entirely in the spread, plus a 0.7% conversion mark-up on non-GBP markets, halved to 0.5% for professional clients. Note also that Capital.com does not publish an EUR/USD from-rate at all. The 0.6 pips widely quoted for it, including by us, comes from a worked example on its pricing page rather than from an advertised floor.

Trade Nation Financial UK Ltd (FCA FRN 525164) is on this page because it genuinely offers UK MT4, added through the client portal, and the UK scoping is not in doubt: its MT4 market information sheet prices EUR/USD at 1/30 margin, which is the FCA retail cap and a regulatory fingerprint on the pricing itself.

The reason to read the small print is that MT4 is the exception to what Trade Nation is known for. The broker scopes its fixed spreads to its own TN Trader platform and to TradingView, and says in terms that MT4 uses variable spreads. If you came for the fixed-spread proposition, the MT4 account is not where you get it.

City Index trades as a brand of StoneX Financial Ltd (FCA FRN 446717) and pairs MT4 with its own Web Trader platform under a NASDAQ-listed parent, with a UK trading record going back to 1983.

Cost is why it is not ranked and would not rank well if it were. There is no raw or commission account, and our July 2026 capture put EUR/USD at a modal 1.4 pips on the standard account, the widest in the FCA set we test. City Index and Forex.com are the same FCA firm, so holding both spreads nothing at all in counterparty terms.

Forex.com is a trading name of StoneX Financial Ltd (FCA FRN 446717) and does offer UK MT4, on a dedicated MT4 account with nine FX Blue expert advisors bundled and a free VPS through Gallant Partners above a £5,000 balance and ten round-turn mini lots a month.

Two things to carry away. Its MT4 pricing is expressly not published: the firm's own transparency page says different spreads may apply on MT4 and that you need to log in to see them, which is why no figure appears in the column here. And the UK entity offers no MT5 at all, despite what most comparison pages say. We tested six candidate URLs on 29 July 2026 and all six returned clean 404s; the MT5 that exists belongs to the group's CySEC entity, StoneX Europe Limited, which is not the firm a UK client contracts with.