To test the frequency response of a magnetotelluric (MT) receiver, a broadband source, especially white noise is more efficient and intuitive than single frequency signals. In view of the absence of an appropriate source generator for MT receiver indoor testing, we designed a broadband signal generator based on a pseudo-random binary sequence (PRBS). Firstly, we divided the whole MT band into two segments to avoid data redundancy and simplify calculation in data processing and designed a generator composed of several modules: a clock module, a PRBS logic module, and a voltage level conversion module. We conducted a detailed analysis of the optimal parameter selection methods for each module, and key parameters including clock frequency, order, the primitive polynomial and the original states of the linear registers were determined. The generator provides four-channel PRBS signals with two effective bandwidths of 5 x 10(-4)-714 Hz and 0.1 Hz-14 kHz which are broad enough to cover the frequency range for different MT methods. These four-channel signals were used to simulate two modes of sources (xy and yx) with strong auto-correlation and weak cross-correlation. The power spectral density is quite stable in the whole passband. The new generator is characterized by broadband output in low-frequency bands, low power consumption, simple operation and reliable performance. Indoor and field tests indicated that the generator can provide an analog MT source and is a practical tool for MT receiver indoor testing.