What is MetaTrader 4 MT4 and How Do You Use it?

Plus, while users won’t have access to live customer service, they’ll be able to use a wide variety of educational resources and tutorials to help them understand the platform in its entirety. As mentioned above, a MetaTrader 4 demo account is free to download and use. Here, you’ll be able to test out the platform using virtual funds. MetaTrader 4 makes money by selling software licenses to brokers whom users can partner with to open live accounts. So in order to open a live account, you’ll need to pick a brokerage and submit an application. MetaTrader has been around since 2005, and is an incredibly popular trading platform.

There is a possibility of losing all your initial capital. Before trading, you should fully understand the true extent of your exposure to the risk of loss and your level of experience. Please note that past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. As you learn how to use MetaTrader 4 for trading and analysis in the market, you will encounter other features along the way. These add-ons and additional features are designed to make your life easier as a trader, helping you to develop a more sophisticated set of strategies.

  1. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.
  2. We want to clarify that IG International does not have an official Line account at this time.
  3. On the other hand, the broker executes the pending order at a later time at the price the trader specifies.

You have the opportunity to leverage on brokers and start trading quickly and easily. MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. https://bigbostrade.com/ It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients. The software consists of both a client and server component.

Is MetaTrader 4 only for trading forex?

MetaTrader 4 is a feature-packed trading platform, let’s check out some of the key features that MT4 has added over the years and keeps it popular amongst traders. SmartAsset Advisors, LLC («SmartAsset»), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset does not review the ongoing performance of any RIA/IAR, participate in the management of any user’s account by an RIA/IAR or provide advice regarding specific investments.

Which mean the 4-hour chart, 1-hour chart, 30-minute chart, 15-minute chart, 5-minute chart and 1-minute chart respectively. MetaTrader 4 has trading features that allow you to copy the trades of other traders automatically. No problem, MetaTrader 4 has trading features that allow you to copy the trades of other traders automatically. Now just to your right, there’s a drop-down menu that says Most rated, click that and change it to free. We love MT4, but it’s hardly the most attractive charting package around.

How many charts do you want to be displayed on your screen? You get to determine all of these with the easy-to-toggle tools on your MT4. Altering your Charts Using the charting function on your MT4 you can adjust how your chart looks. This feature allows traders to always be on alert for whatever might arise in the market.

MT4 vs. MT5: Battle of The MetaTrader Versions

The Android-compliant version, available on Google Play, has a rating that is higher than 4.5. With the position now open, you’ll need to keep on top of its progress. So, how do you trade on MetaTrader 4 and monitor them accordingly? Find the Terminal option under the View menu in the toolbar, or hit Ctrl + T if you use a Windows laptop or desktop device.

While MT4 has four types of pending orders available, MT5 introduces 2 additional pending order types. If you are interested in learning about algorithmic trading and automated high-frequency trading systems, check out our guide to high-frequency trading. I’ve been covering the forex industry for over twenty years, and I always recommend choosing a forex broker that is properly licensed and regulated. Our proprietary Trust Score can help you find a regulated, trustworthy broker – click here to learn how it works.

As there is always a risk involved when trading — and as this risk is amplified when margin trading or leverage is involved — you must trade conservatively on the MetaTrader 4 platform. The MT4 platform’s cutting-edge technology includes automated trading as a fully integrated function, allowing vela martillo it to execute orders at a pace that would be unachievable with manual trading. For many traders, this saves a significant amount of time from the routine of market monitoring and trade execution. You can set up price alerts by opening the terminal window and going to the Alerts tab.

Automate trades seamlessly with MT4

MT4 has over 30 built-in technical indicators that help traders analyze the markets. These indicators include Moving Averages, Bollinger bands, and Relative Strength Index (RSI). Additionally, traders can create their own custom indicators or download indicators from the MetaTrader Market, a marketplace for trading tools and indicators. These features help traders open positions, invest, and execute trades. Traders can also use several features to conduct technical analyses and market examinations. Tools such as indicators can help traders gain insight into the past performance of the market they are working with and other important pieces of information.

These enable you to automate your trading on the platform. Learn more about what Expert Advisors are and how they work. It’s also worth noting that while the interface is comprehensive, it can also be confusing to figure out how to take advantage of all features. This issue is compounded by the fact that you won’t have access to live customer support. Although the platform is free, you should make sure to partner with a brokerage that charges minimal fees.

We’ve evaluated over 60 forex brokers, using a testing methodology that’s based on 100+ data-driven variables and thousands of data points. Check out our full-length, in-depth forex broker reviews. Expert Advisors, or EAs, are used in the MT4 and MT5 platforms to run automated trading systems. An EA will either be a modifiable copy of the original .MQ4 file that contains the source code, or it will be an .EX4 (executable) file of the same code, which cannot be modified or tampered with.

Once you’re familiar with your MT4, almost anything you want can be implemented on it. Most especially, you can leverage the opportunities provided by the Expert Advisors for automated trading. The Expert Advisor features robots that assist with both market forecasting, market analysis and trading. This gives you plenty of time to get on with other essential market activities. Metatrader 4 also provides you with the perfect environment for testing, developing, and optimizing new trading algorithms for all your trades on the market.

Mobile trading allows you to analyze markets and trade the same way as when working via the desktop version. The only difference is that trading is performed using a smartphone or tablet from anywhere in the world. Explore the latest MetaTrader platform and access advanced trading features and tools. No matter your experience level, download our free trading guides and develop your skills. Once your account is set up, you can immediately open trades using MT4.

With features like this, you will be able to enjoy all the superior services that you might not be able to find with other retail forex traders. The processes are made easy, have shortcuts, and are easy to remember. The interface is simple so that you do not get lost in a host of features. The MT4 and MT5 platforms have made it so that forex traders do not need many steps to make an order.

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