MT4 Prop Firms 2026: Best MetaTrader 4 Proprietary Trading Firms - Complete Guide
MetaTrader 4 (MT4) remains one of the most popular trading platforms worldwide, even as MT5 gains traction. Many traders prefer MT4 for its user-friendly interface, extensive indicator library, Expert Advisor (EA) compatibility, and low resource usage. This comprehensive guide covers the best prop firms that support MT4 in 2026, helping you find the right MT4 prop firm for your trading needs.
MetaTrader 4 remains the platform of choice for many prop traders. Source: Unsplash
What Are MT4 Prop Firms?
MT4 prop firms are proprietary trading companies that support MetaTrader 4 (MT4), a trading platform developed by MetaQuotes Software. MT4 was released in 2005 and quickly became the industry standard for retail forex trading due to its user-friendly interface, extensive customization options, and powerful automated trading capabilities.
MT4 prop firms allow traders to use the MT4 platform for both evaluation challenges and funded accounts. This is important because many traders have years of experience with MT4, have built custom indicators and Expert Advisors (EAs) for the platform, and prefer its familiar interface over newer alternatives.
Leading MT4 prop firms include FTMO (industry leader, both MT4 and MT5), FundedNext (Express evaluation with MT4 support), MyFundedFX (no time limits on MT4 evaluations), and The5ers (MT4 compatible). Compare all options using our prop firm comparison tool or explore forex prop firms for other platform options.
Top MT4 Prop Firms 2026
1. FTMO
FTMO is the industry leader for MT4 prop trading, offering full support for both MT4 and MT5 platforms. FTMO's evaluation system works seamlessly with MT4, providing traders with access to all platform features including Expert Advisors, custom indicators, and automated trading strategies.
FTMO's MT4 integration includes comprehensive support for all MT4 features, ensuring traders can use their preferred indicators, EAs, and trading tools without limitations. The firm offers account sizes from $10,000 to $200,000 with up to 90% profit splits and challenge fee refunded with first payout.
FTMO's reputation, transparent rules, excellent support, and track record of paying traders make them the top choice for MT4 traders. Their platform support is comprehensive, and their educational resources help traders succeed with MT4.
2. FundedNext
FundedNext offers full MT4 support with their Express evaluation model and standard two-phase evaluations. Their unique feature is offering 15% profit share during the challenge phase, meaning you earn money even before getting funded.
FundedNext's MT4 integration provides access to all platform features including Expert Advisors, custom indicators, and automated trading. The firm offers account sizes from $5,000 to $200,000 with 80-90% profit splits and no consistency rules.
3. MyFundedFX
MyFundedFX offers flexible MT4 evaluations with no time limits, making it ideal for traders who prefer to take their time. Their MT4 support is comprehensive, allowing traders to use all platform features including EAs and custom indicators.
MyFundedFX's no-time-limit policy means you can complete MT4 evaluations at your own pace, reducing pressure and allowing you to trade when conditions are optimal. They offer account sizes from $5,000 to $200,000 with competitive profit splits.
4. The5ers
The5ers offers MT4 compatibility with their unique scaling program. Instead of fixed account sizes, The5ers starts traders with smaller accounts and scales them up based on performance, creating a growth-oriented approach to prop trading.
The5ers' MT4 support allows traders to use the platform's extensive features while benefiting from the firm's scaling model. This combination is ideal for traders who want to grow their account size gradually while using familiar MT4 tools.
5. Other Top MT4 Prop Firms
Several other reputable prop firms support MT4 including SurgeTrader, E8 Markets, The Funded Trader, and others. Each firm has unique features, rules, and benefits, so it's important to compare options based on your trading style and preferences.
When choosing an MT4 prop firm, consider factors like profit splits, evaluation rules, account sizes, EA policies, reset policies, and firm reputation. Use our comparison tool to evaluate all options side-by-side.
Why Choose MT4 for Prop Trading?
Familiarity
Most retail traders learned to trade on MT4, making it the most familiar platform. If you've been trading for years on MT4, switching to a new platform can disrupt your workflow and require learning new interfaces, shortcuts, and features.
For prop traders, familiarity reduces the learning curve and allows you to focus on trading rather than learning platform features. This is particularly important during evaluations where time and focus are critical.
Expert Advisor (EA) Support
MT4 has the largest ecosystem of Expert Advisors (EAs) and automated trading strategies. Thousands of EAs are available for free or purchase, and the MQL4 programming language is well-documented with extensive community support.
For prop traders using automated strategies, MT4's EA ecosystem provides access to proven strategies, custom development resources, and extensive backtesting capabilities. This makes MT4 ideal for algorithmic traders.
Custom Indicators
MT4 has thousands of free custom indicators available, covering every trading style and strategy. The indicator library is extensive, and creating custom indicators using MQL4 is straightforward for those with programming knowledge.
For prop traders, access to extensive indicators helps identify trading opportunities, manage risk, and optimize strategies. The large indicator library means you can find tools for any trading approach.
Low Resource Usage
MT4 runs smoothly on older computers and doesn't require high-end hardware. This makes it accessible to traders with budget computers and allows running multiple instances for different accounts or strategies.
For prop traders managing multiple accounts or running resource-intensive EAs, MT4's low resource usage is valuable. You can run multiple MT4 instances without performance issues, which is useful for scaling trading operations.
Extensive Community Support
MT4 has the largest trading community with extensive forums, tutorials, and resources. Finding help, learning resources, or troubleshooting issues is easier with MT4 than with newer platforms.
For prop traders, community support helps solve technical issues, learn new strategies, and stay updated on platform developments. The extensive MT4 community is a valuable resource for traders at all levels.
Proven Track Record
MT4 has been the industry standard for over 15 years, with a proven track record of reliability and stability. The platform is battle-tested and trusted by millions of traders worldwide.
For prop traders, MT4's proven track record provides confidence in platform stability and reliability. You know the platform won't have unexpected issues that could disrupt your trading or evaluations.
MT4 vs MT5 for Prop Trading: Detailed Comparison
| Feature | MT4 | MT5 |
|---|---|---|
| Release Year | 2005 | 2010 |
| Timeframes | 9 Timeframes | 21 Timeframes |
| Order Types | 4 Order Types | 6 Order Types |
| Programming Language | MQL4 | MQL5 (More Powerful) |
| Instruments | Forex Focused | Forex, Stocks, Futures, CFDs |
| EA Ecosystem | Largest (15+ Years) | Growing |
| Indicator Library | Extensive (Thousands) | Growing |
| Resource Usage | Low | Moderate |
| Economic Calendar | External | Built-In |
| Best For | Forex Traders, Existing MT4 Users | Multi-Asset Traders, Advanced Features |
When to Choose MT4: If you have existing MT4 strategies, indicators, or EAs; prefer the simpler interface; focus primarily on forex trading; or want access to the largest EA and indicator ecosystem.
When to Choose MT5: If you need more timeframes, want to trade multiple asset classes, need more advanced order types, or want built-in economic calendar and advanced features. Explore MT5 prop firms for more details.
Using Expert Advisors (EAs) with MT4 Prop Firms
MT4's Expert Advisor (EA) system is one of its most powerful features, allowing traders to automate trading strategies using MQL4 programming. Most MT4 prop firms allow EAs, but there are important considerations for using them in evaluations and funded accounts.
Key EA Considerations for Prop Trading:
- Firm Policies: Verify the prop firm allows EAs (most do, but check rules). Some firms have restrictions on EA trading, minimum hold times, or other requirements.
- Rule Compliance: Ensure your EA complies with all trading rules including minimum hold times, maximum daily loss, consistency rules, and any other restrictions.
- Evaluation Requirements: You must pass the evaluation using your EA. The firm will evaluate your strategy's performance, so ensure your EA can meet profit targets and stay within drawdown limits.
- Backtesting: Thoroughly backtest your EA on historical data before using it in an evaluation. This helps identify potential issues and ensures the strategy is viable.
- Monitoring: Monitor your EA closely, especially during initial deployment. Automated strategies can behave unexpectedly in live markets, so active monitoring is important.
- Risk Management: Ensure your EA includes proper risk management including stop losses, position sizing, and drawdown protection. Automated strategies must manage risk effectively.
Popular EA Strategies for Prop Trading:
- Trend Following EAs: Automated strategies that identify and follow market trends, entering trades when trends are established and exiting when trends reverse.
- Grid Trading EAs: Strategies that place multiple orders at different price levels, profiting from market volatility. Be careful with grid EAs as they can violate drawdown limits during adverse moves.
- Scalping EAs: High-frequency strategies that enter and exit trades quickly, profiting from small price movements. Ensure these comply with minimum hold time requirements.
- News Trading EAs: Strategies that trade around economic news releases. Verify the prop firm allows news trading, as some firms restrict it.
- Multi-Currency EAs: Strategies that trade multiple currency pairs simultaneously, diversifying risk across different markets.
For traders already using MT4 EAs, prop trading provides an opportunity to scale strategies with larger capital. However, ensure your EA is robust, well-tested, and complies with all prop firm rules before using it in evaluations or funded accounts.
Setting Up MT4 with Prop Firms
Step 1: Download MT4
Download MetaTrader 4 from your prop firm's website or from MetaQuotes Software. Most prop firms provide direct download links and setup instructions. MT4 is free to download and use—there are no platform fees.
Installation is straightforward—follow the setup wizard and ensure you have the necessary system requirements. MT4 runs on Windows, Mac (via Wine or virtualization), and mobile devices.
Step 2: Connect to Prop Firm Server
Your prop firm will provide server address and login credentials. In MT4, go to File → Login to Trade Account and enter your credentials. The connection process is similar to connecting to any broker.
Ensure you're connecting to the correct server (demo for evaluation, live for funded accounts). Most prop firms provide detailed setup instructions specific to MT4 connections.
Step 3: Configure Your Workspace
Customize MT4's interface to match your trading style. Set up charts with your preferred indicators, configure templates for different strategies, arrange windows for efficient workflow, and save workspace profiles for quick access.
MT4's interface is highly customizable—take time to set it up optimally for your workflow. You can create multiple workspace profiles for different trading strategies or timeframes.
Step 4: Install Indicators and EAs
Install your preferred indicators and Expert Advisors. MT4 supports .ex4 (compiled) and .mq4 (source code) files. Place indicators in the Indicators folder and EAs in the Experts folder, then restart MT4 or refresh the Navigator window.
Test all indicators and EAs thoroughly before using them in evaluations. Ensure they function correctly, comply with prop firm rules, and don't cause any technical issues.
Step 5: Test Your Setup
Before starting an evaluation, test your MT4 setup thoroughly. Verify server connectivity, test order entry, check that indicators load correctly, and ensure EAs (if using) function properly. This helps avoid technical issues during your evaluation.
Many prop firms offer demo accounts or practice periods where you can test your setup. Take advantage of these to ensure everything works correctly before starting a paid evaluation.
Advantages of MT4 for Prop Trading
Largest EA Ecosystem
MT4 has the largest ecosystem of Expert Advisors with thousands of EAs available for free or purchase. This provides access to proven strategies, custom development resources, and extensive automation capabilities.
Extensive Indicator Library
Thousands of free custom indicators are available for MT4, covering every trading style and strategy. The indicator library is extensive, and creating custom indicators is straightforward.
Familiar Interface
Most traders are familiar with MT4's interface, reducing the learning curve and allowing focus on trading rather than learning platform features. This is particularly valuable during evaluations.
Low Resource Usage
MT4 runs smoothly on older computers and doesn't require high-end hardware. This makes it accessible to all traders and allows running multiple instances for different accounts or strategies.
Limitations of MT4 for Prop Trading
Limited Timeframes
MT4 offers 9 timeframes compared to MT5's 21 timeframes. While this covers most trading needs, some traders prefer the additional timeframes available in MT5 for more granular analysis.
Forex-Focused
MT4 is primarily designed for forex trading, while MT5 supports multiple asset classes including stocks, futures, and CFDs. If you want to trade instruments beyond forex, MT5 may be a better choice.
Older Technology
MT4 uses older technology compared to MT5, which may limit some advanced features. However, MT4's stability and proven track record often outweigh these limitations for many traders.
Frequently Asked Questions
Do all prop firms support MT4?
Most major forex prop firms support MT4, but not all. Some firms only support MT5 or other platforms. If MT4 is important to you, verify platform support before choosing a prop firm. Most reputable firms support both MT4 and MT5.
Can I use MT4 EAs with prop firms?
Yes, most MT4 prop firms allow Expert Advisors (EAs) and automated trading strategies. However, you must ensure your EA complies with all trading rules (minimum hold times, etc.) and passes the evaluation using the EA. Always verify the firm's EA policies before deploying automated strategies.
Is MT4 better than MT5 for prop trading?
MT4 is better if you have existing strategies, indicators, or EAs built for MT4, or if you prefer the simpler interface. MT5 is better if you need more advanced features, more timeframes, or want to trade instruments beyond forex. Most prop firms support both, so you can choose based on your needs.
Can I use MT4 on mobile devices?
Yes, MT4 has mobile apps for iOS and Android devices. Mobile MT4 allows you to monitor positions, view charts, and execute trades from your phone or tablet. However, mobile MT4 has limited features compared to the desktop version, so it's best for monitoring and basic trading rather than full strategy execution.
Is MT4 free to use with prop firms?
Yes, MT4 is completely free to download and use. There are no platform fees, subscription costs, or hidden charges. Your prop firm may charge evaluation fees or profit splits, but the MT4 platform itself is free.
Can I trade multiple prop firm accounts on one MT4?
Yes, you can run multiple MT4 instances, each connected to a different prop firm account. This allows you to manage multiple evaluations or funded accounts simultaneously. However, ensure you're following each firm's rules and not violating any restrictions on multiple accounts.