Is MetaTrader available in the US?
Many US-based forex brokers and trading platforms now offer MetaTrader 5 to their clients, allowing traders in the US to access the platform's advanced trading features, analytical tools, and automated trading capabilities.
MT4 has been the standard for FX, both with U.S. regulated brokers and offshore brokers. MT5 is more often used for U.S. Futures Trading. MT5 unlike 4 comes in two versions: Netting and Hedging.
- Create a FOREX.com MT4 account.
- Log in.
- Set up and fund your FOREX.com MT4 account.
- Log into your existing MT4 platform with your FOREX.com credentials and all your chart data and analysis will automatically sync.
The two MetaTrader apps were banned on Apple's App Store in 2022 for their alleged use by fraudsters targeting the US citizens and residents. However, both apps were restored after a few months.
- Locate the download in the bottom left-hand corner of the page.
- Right-click/double-click on "MT4Install. EXE" to open the install wizard.
- Follow the instructions to complete the install.
Yes, the MT4 WebTrader trading platform is legitimate.
Is MetaTrader 5 a Scam? To begin with, it should be clarified that MT5 itself is in no way a scam. As explained above, MT5 itself is simply a software application that allows traders to connect to trading platforms and facilitate transactions via computers.
Are Forex Brokers and Forex trading legal in the U.S.? Yes, forex brokers are legal in the U.S., but they must be registered with and regulated by the Commodity Futures Trading Commission (CFTC) and be members of the National Futures Association (NFA).
MT4 was released in Russia in 2005 before MT5 came in 2009 to support more trading instruments. According to a study conducted in September 2019, MetaTrader 4 was still the most popular trading platform in the world at the time.
Because the forex market is decentralized and largely unregulated, it can be difficult to police. This can make it more vulnerable to scams and other fraudulent activities. By prohibiting forex trading in the US, the government is able to protect investors from these risks.
Did Apple remove MetaTrader?
On September 23, 2022, users found MT4 banned and MT5 banned from the Apple App store. The company simply stated that these MetaQuotes instruments didn't comply with the App Store's review guidelines.
Previously installed 32-bit platform versions will work until January 1, 2024, however they haven't said anything about stopping MT4. The release of 32-bit installers has been discontinued.
- Step 1: Research and select a broker. ...
- Step 2: Open a forex trading account. ...
- Step 3: Verify your identity. ...
- Step 4: Fund your forex account. ...
- Step 5: Research currencies and identify trading opportunities. ...
- Step 6: Size up your first forex trade.
How Am I Taxed for Forex Trading? If you trade 1256 contracts, your trades are taxed at 60% long-term capital gains and 40% short-term capital gains. If you're trading 988 contracts, you treat losses and gains as ordinary (taxed at your income tax bracket level).
Why are Meta Trader 4 and Meta Trader 5 apps removed from the Play Store? The removal of Meta Trader 4 and Meta Trader 5 apps from the Play Store might be due to various reasons, such as policy violations, security concerns, or other issues.
Are MetaTrader 4 and 5 Safe? MT4 and MT5 are completely safe and legitimate platforms many top brokers use. They are also extremely popular with forex traders, but as with almost any online activity, fraudsters will construct scams involving these platforms if they think they can benefit.
Yes. Experts, which are automated trading systems in MT4 and MT5, are built by traders and rely on backtesting to prove their profitability.
- Best Overall: Fidelity.
- Best for Low Costs: Fidelity.
- Best for Beginners: Charles Schwab.
- Best for Advanced Traders: Interactive Brokers.
- Best for ETFs: Fidelity.
- Best for Options Trading: tastytrade.
- Best for International Trading: Interactive Brokers.
In September 2022, a ban on the MT4 and MT5 apps in Apple's App Store, which affected all markets, made headlines. Though the reasons for the decision were unclear, there was speculation that it was related to trading scams published in the iOS app store, impersonating popular trading platforms.
| Broker | FX commission per lot | Minimum deposit |
|---|---|---|
| Forex.com | No commission is charged | $100 |
| Oanda | No commission is charged | $0 |
| IG | No commission is charged | $0 |
| Interactive Brokers | Trade value less than $1 billion: 0.2 bps * trade value; min. $2 | $0 |
Which US brokers support MT5?
- IC Markets - Best MetaTrader broker overall.
- FP Markets - Excellent pricing, great for MetaTrader.
- Pepperstone - Great for MetaTrader and copy trading.
- FOREX.com - Excellent all-round offering.
- FxPro - Great for MetaTrader and algo trading.
- Tickmill - Best overall broker for low costs.
Overall, while it is possible to start trading forex with just $100, it is important for traders to approach it with caution and to have a solid understanding of the market and their own risk tolerance.
Unfortunately, there are NO Regulated offshore Forex brokers in the world that accept US citizens. It's because Dodd-Frank Act requires that Forex brokerage company who wants to do business with US citizens must first be registered with both CFTC and NFA.
The minimum transaction for debit card deposits is $100 per transaction. We accept Visa and MasterCard in USD, GBP and EUR. However, please be aware that all debit card transactions are automatically converted to USD. FOREX.com does not charge fees for incoming card deposits.
Other important factors to consider when researching alternatives to MetaTrader 4 include features. We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to MetaTrader 4, including thinkorswim, eToro, E*Trade Web Platform, and Binance Broker.
