MetaTrader, the popular platform brand from MetaQuotes, is present in the prop firm industry. The MetaTrader 4 (MT4) and the MetaTrader 5 (MT5) platforms are highly requested platforms that most Forex/CFDs proprietary firms strive to have available.

Unfortunately, not all prop firms have MetaTrader to offer to their clients, but since you’re looking for them, I created this list especially for you.

The Top 3 Best Prop Firms With MetaTrader

Let’s start with the top 3 prop firms that have MetaTrader at your disposal to trade.

Other Interesting Prop Trading Firms With MetaTrader

If you want to look for a few more, here’s a list of other proprietary firms that also have MT4 or MT5 available to trade.

How Should I Choose A Prop Firm With MetaTrader?

If you are undecided between two or more prop trading firms with the MetaTrader platform, you can use our prop firm comparison tool. Just choose the firms that you want to compare and immediately check the results with a detailed comparison.

What Is MetaTrader?

MetaTrader is probably the most popular trading platform to date, used by forex traders to analyze and trade financial markets. It was developed by MetaQuotes, and was widely adopted initially by Forex/CFDs brokers, and now by Forex/CFDs prop firms.

At the moment there are two main active versions of the platform:

• MetaTrader 4 (MT4): This one was launched in 2005, and focused mainly on forex trading. It’s well known for its simplicity, reliability, and ease of use. This makes it especially popular among prop firm traders.
• Metatrader 5 (MT5): This platform was launched in 2010, and it included some upgrades like additional asset classes (stocks and commodities), and more advanced features that include a built-in calendar and additional order types.

How Can You Use MetaTrader With Prop Firms?

When you connect the MetaTrader platform to your prop firm, whether it’s MT4 or MT5, you can use all of its advanced tools to trade and analyze.

Here’s a list of them:

• Charting Tools: MetaTrader offers a wide range of tools to analyze price movements and trends while trading your funded account or challenge. These tools include multiple chart types (line, bar, and candlestick) and timeframes (from 1 minute to 1 month).

• Technical Indicators: If you like to use indicators to pass your prop firm challenge, there’s almost an infinite number of them you can use with MetaTrader. The most popular are built-in, like Moving Averages, Bollinger Bands, or RSI. User-created indicators can also be used after being downloaded.

• Automated Trading (EAs): If the prop firm you trade is a prop firm that allows EAs, you can use MT4 or MT5 to run your own bot and let it trade for you.

• Backtesting: It’s always a good practice to backtest your strategy before you try to pass a prop firm challenge. If you have your strategy on an EA, you can use the MetaTrader historical data to evaluate your strategy and find the best parameters.

Order Types For Prop Firm Trading With MetaTrader

When you trade with MetaTrader on your prop firm challenge or funded account, you can use any of the available order types, such as:

• Market Orders: Buy or Sell.
• Limit Orders: Buy limit or Sell limit.
• Stop Orders: Buy stop or Sell stop.
• Trailing Stop: To trail your profits and let you squeeze the most out of a movement.

When using MT5, there are a few more order types available like:

• Buy-Stop Limit
• Sell-Stop Limit

Advantages Of Using MT4 or MT5 With A Prop Firm

Let’s list the advantages of using MetaTrader with your prop firm:

• User-friendly interface: Everything is very intuitive. Regardless of your level as a trader, you can get comfortable with the platform quickly.
• Algorithmic trading: Many prop firms allow the use of EAs, and some even encourage it. Not only for trading automatically, but also for semi-automated trading, to calculate risk, or manage open positions.
• Widely supported by brokers: A lot of prop firms partner with specific brokers to be able to offer MetaTrader directly to their clients.

Disadvantages Of Using MT4 or MT5 With A Prop Firm

Nothing in the world has only advantages, and using Metatrader with a prop firm is no exception. Here are the most important ones:

• Restricted by prop firm’s conditions: Prop firms often have strict rules for risk management, trading times, lot sizes, drawdown limits, … You need to be aware of these rules and make sure you don’t violate them because Metatrader won’t alert if you are.
• Learning curve for customization and scripting: If you want to use custom trading tools or EAs, you need to learn to code, or have someone coding for you. It’s not a drag-and-drop interface.
• Performance issues with high-frequency trading: MetaTrader is a fast platform but it wasn’t designed for ultra-fast high-frequency trading. I’m talking about hundreds of trades per second here. This won’t be an issue for the majority of traders, and most prop firms don’t even allow this kind of trading anyway.

Learn More

• PropScan – challenge filter and selector
• What is prop trading
• Prop firms comparison tool
• List of the best prop trading firms