Can You Use MT4 with IQ Option?

It has become so popular that many brokers that have developed their own custom trading platforms also offer MT4.  Unfortunately, IQ Option is not one of these brokers. It’s not possible to use MT4 with IQ Option, but don’t despair as IQ Option have developed their own trading platform that we think is pretty good. In this article we will be looking at the benefits of using IQ Option’s own platform as well as recommending some brokers who do offer MT4.

Before we get going, have a look at our other IQ Option guides:

• Read our IQ Option review
• How much is IQ Option's Minimum Deposit
• Find out what we think of IQ Option's demo account

Can I use IQ Option with MT4?

As we mentioned it is not possible to use MT4 with IQ Option.  Like many brokers, IQ Option have gone down the route of developing their own platform rather than offering users a ready-made, third party solution like Metatrader 4.  Don’t discount them just yet though, as their platform is clean, simple and user-friendly.

We are big fans of what IQ Option has developed here.  While it might not match Metatrader 4 for popularity, they have produced a clean and simple platform that would be perfect for a beginner making their first trades

 IQ Option’s Clean and Simple Platform.

If you are used to trading using MT4 it can be a challenge to get used to a brand-new platform.  You may be wary of leaving the familiarity of MT4 behind but we would suggest giving IQ Option’s platform a go.  They have clearly spent a lot of time on the user interface, with a strong focus on keeping things clean, simple and easy to use. Additionally, some advanced features from the old IQ Option robot were transferred to the new platform.

There is a wide range of indicators and graphical tools, for drawing things like trend lines and support and resistance levels, that can easily be applied to the charts.  You can find these in the bottom left.

Trades are easy to open and close in a few clicks using the panel on the right. You can either place the trade at the current price using the buy and sell buttons or set an order using the ‘purchase at’ button.

You also have several different chart types to choose from.  The default setting is a line chart but this can easily be changed to bars, classic candlesticks or heikin-ashi candles. You can also customise the colour and thickness of the lines, bars and candles to get the charts looking exactly as you like them.

The only thing we found a little confusing at first is the default setting to change the time period of the candles automatically when you zoom in and out on a chart. This is easy to turn off however by de-selecting  ‘change interval automatically’ in the candle time period panel, as shown below.

On the whole we found IQ Option’s platform to be very intuitive. Everything we needed was easy to find and we never felt the platform was getting in our way. IQ Option offers a free $10,000 demo account which is perfect for trying out their platform before deciding if you want to switch. We suggest giving it a go, you might even find it improves your trading.

Which Brokers Can I use with MT4?

If you have tried IQ Option’s platform but decided you want to stick with MT4, that is understandable. Switching to a different platform when you are used to using one in particular, like MT4, can be difficult.  When you are trading you should only have to think about your trades, not the platform you are using.  Plenty of brokers offer MT4 as an option though, including many who also have their own custom platforms.

Pepperstone

Pepperstone was founded in Melbourne, Australia in 2010 and is one of the best around for trading forex and CFDs. They are ASIC and FCA regulated and have more than 70,000 active traders. As well as Metatrader 4 and 5, Pepperstone also offers cTrader as a trading platform option.

Tickmill

Tickmill is another solid choice for those looking to trade using MT4.  They have been around since 2014 and are regulated by CySEC, the FCA and the FSA.  As well as the standard MT4 software, Tickmill also offer MT4 webtrader as an additional platform option

Further Reading

• Comparison of MT4 and MT5
• How to buy Bitcoin with IQ Option
• Learn how to trade the Forex markets with your preferred broker.

CFDs are complex instruments and entail a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.