A lot of trading strategies involve using indicators and expert advisors (EA's). Whilst some brokers support these indicators, others do not. Some brokers will allow you to use a certain set of indicators and advisors and not others.
If you are a trader that uses indicators and EA's in your trading, then it is very important you have a quality broker that allows them.
In this post we go through the best brokers that allow all indicators and expert advisors to be used and how you can get started with these brokers.
Compare Forex Brokers Fees:
Use our side-by-side comparison table to compare Forex broker accounts, spreads and fees.
Best Forex Brokers for Indicators and EA's
FXTM
| FXTM | Regulation | Min Deposit | Platform | Open an Account | |
 |
FCA and CySec | $10 | MT4 and MT5 | Trade Now |
Pros:
- Offer Metatrader platforms.
- Small $10 minimum deposit.
- Quick and easy to open an account.
- Very good customer support.
Cons:
- Some countries not accepted including US.
- Not all deposit and withdrawal methods offered.
FXTM is an award winning broker that has a vast selection of instruments, platforms, account types and resources.
With FXTM you get access to a regulated broker who offers both the latest MT4 and MT5 platforms.
Unlike many other brokers where the minimum deposits can be a lot larger, the minimum deposit with FXTM is only $10. This means you can make a tiny deposit and test out whether they are for you or not.
With FXTM you can make your trades with instant execution and on a huge range of markets and assets that include;
- Currency pairs
- CFDs
- Precious metals and commodities
- Cryptocurrencies
- Stocks
Your capital is at risk.
AvaTrade
| Avatrade | Regulation | Min Deposit | Platform | MetaTrader 5 | |
 |
FSCA, ASIC + Others | $100 | MT4, MT5 Ava Platforms | Trade Now |
Pros:
- They allow many different trading techniques.
- Many assets.
- 30 different languages.
- They offer Islamic accounts.
Cons:
- Minimum deposits sizes.
- Inactivity and overnight fees.
- US and Belgian customers are not accepted.
AvaTrade was established in 2006. They are highly reputable and are regulated by 7 jurisdictions.
This strong regulation allows AvaTrade to reach offer products to most parts of the world including the UK, Singapore, Australia,and the Middle East. Note: clients from the US or Belgium are not accepted.
AvaTrade offers a variety of assets and it is one of the best brokers for forex trading because it has 50 currency pairs that range from major, minor and exotic.
Along with being able to trade a huge range of Forex pairs you can also trade options, ETFs, bonds and commodities.
AvaTrade offers many different account types, and the availability will vary depending on the jurisdictions. The options are retail, professional, options, spread betting, and standard. A demo account, and Islamic accounts are also a possibility.
Another large bonus of AvaTrade is that they offer their services in 30 x different languages.
Your capital is at risk.
Forex.com (for US)
| Forex.com | Regulation | Min Deposit | Platform | Open an Account | |
 |
NFA, CFTC + Others | $100 | MT4, MT5, Web and mobile platforms | Trade Now |
Pros:
- Low FX fees.
- Numerous trading pairs.
- A wide range of research tools.
- Offers MT4 and other trading platforms.
Cons:
- Limited product portfolio.
- High stock CFD fees.
Forex.com has established itself as one of the best brokers in the world.
This is our number one recommendation for traders in the US as they have strong regulation including being regulated with the CFTC.
With Forex.com you get access to spreads as low as 0.2, the ability to trade on over 80 currency pairs and a wide range of trading platforms.
The MT5 platform on Forex.com comes with 20 free, easy to install EAs and custom indicators. When opening an account with forex.com you also get access to the full suite of downloadable, web, and mobile apps.
Your capital is at risk.
Pepperstone
| Regulation | Min Deposit | Platform | Open an Account | ||
 |
ASIC, FCA + Others | $200 | MT4, MT5 and cTrader | Trade Now |
Pros:
- It is regulated by ASIC and FCA.
- Offers various trading platforms.
- Low FX, equity, and indices fees.
- Excellent customer service.
- Free deposit and withdrawal.
Cons:
- No investor protection for non-EU traders.
- No fundamental data analysis.
Pepperstone is an Australian based broker and is widely regarded as one of the best Forex brokers in the world.
With Pepperstone you have the ability to trade on Forex, gold, indices, equities, and more. One of the biggest benefits to Pepperstone is the availability of not just MT5, but also other different trading platforms. You can choose any of the MT4, MT5, and cTrader that come on desktop, mobile and web trading.
Pepperstone offer very comprehensive education and analysis that ranges from market news, analysis, an economic calendar, guides, webinars, and more.
Another large benefit to Pepperstone is their small trading costs. Pepperstone offer very small spreads and charge low commissions per round trade.
Your capital is at risk.
FXCM
| FXCM | Regulation | Min Deposit | Platform | Open an Account | |
 |
FCA, ASIC + others. | $300 | Trading Station, MT4 and NinjaTrader | Trade Now |
Pros:
- Very good education available.
- Easy to quickly open an account.
- Multiple account types available.
- Low spreads.
Cons:
- Not as many markets as others.
- Higher minimum deposit.
FXCM is a leading global broker that has been offering it's services since 1999.
FXCM has a huge range of trading services that include foreign exchange (FX) trading, CFD trading and spread betting. With FXCM you have access to multiple trading platforms, tools and premium resources to help you gain an edge over the markets.
One of the reasons so many choose to trade with FXCM is because of their extensive range of markets you can trade. You get access to everything from Forex, shares, cryptocurrencies, commodities and indices.
Your capital is at risk.
What are the Best Charts for Indicators?
Without a doubt the best charts for indicators and expert advisors are MT4 and MT5.
Metatrader charts are lightweight, but incredibly powerful. You will also find literally thousands of free indicators and EA's that you can download and use.
Indicators are easy to download and start using in Metrader and there are many developers available to create a new indicator for you if you have an indicator in mind, but it is not available.
What are the Pro and Cons of Trading With Indicators?
Just like any other strategy or system, using indicators has it's pros and cons.
Pros:
- Can help you automate your trading.
- Can help you find trades you may have missed.
- Can set up alerts and notifications.
- Can make your trading life simpler.
Cons:
- If overused indicators can overcomplicate your strategies.
- They can get in the way of your analysis.
- They can lead to analysis paralysis.
Are Indicators Better Than Price Action Trading?
Indicators are not better or worse than price action.
Whilst some traders swear on using raw price action alone, others will combine indicators into their price action trading.
Other traders will use indicator to automate or help their trading. An example of this may be a trader who trades pin bars. This trader may use a pin bar indicator to automatically find pin bars on their charts and send them notifications when one has formed.
FAQ's
What are the Best Charts for Indicators?
Without a doubt the best charts for indicators and expert advisors are MT4 and MT5. Metatrader charts are lightweight, but incredibly powerful. You will also find literally thousands of free indicators and EA's that you can download and use.
Are Indicators Better Than Price Action Trading?
Indicators are not better or worse than price action. Whilst some traders swear on using raw price action alone, others will combine indicators into their price action trading. Other traders will use indicator to automate or help their trading. An example of this may be a trader who trades pin bars. This trader may use a pin bar indicator to automatically find pin bars on their charts and send them notifications when one has formed.
What are the Pro and Cons of Trading With Indicators?
Just like any other strategy or system, using indicators has it's pros and cons. Pros Can help you automate your trading. Can help you find trades you may have missed. Can set up alerts and notifications. Can make your trading life simpler. Cons If overused indicators can overcomplicate your strategies. They can get in the way of your analysis. They can lead to analysis paralysis.
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