After creating an account, you can download MT4 to your chosen device. Once you have downloaded MT4, you can log in with your credentials. IG International Limited is part of the IG Group and its ultimate parent company is IG Group Holdings Plc. IG International Limited receives services from other members of the IG Group including IG Markets Limited.

The MetaTrader 4 (MT4) platform is predominantly used for forex trading. However, depending on the broker, MT4 often comes with a range of other symbols — such as CFDs on indices, commodities, futures, energies, and metals. If you’d like to learn more about how CFDs work – or you’d just like to see our list of the best CFD trading platforms – check out our full-length guide to the Best CFD Brokers and Trading Platforms. Yes, you’ll need to open a live trading account with a supporting broker if you want to place real trades within the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms.

MT4 Main Features

Popularity is mainly due to its simple-to-use features and the potential to even aid automatic trading by enabling users to develop their own trading scripts and trading robots (commonly known as expert advisors). MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. The software is licensed to foreign exchange brokers who provide the software to their clients. The server component is run by the broker and the client software is provided to the broker’s customers, who use it to see live streaming prices and charts, to place orders, and to manage their accounts. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

1. MT4’s great customizability to suit your unique trading preferences is one of its main draws.
2. By right-clicking inside the window and choosing one of the following choices, you can modify the date range.
3. MT4 also allows you to change the time frame of a particular price chart with one click.

You can install the platform on many devices although the MT4 platform can’t be accessed through a website. The main panels of the MT4 platform are the ‘Market Watch’, ‘Navigator’, ‘Chart’ and ‘Terminal’ panels. Get virtual funds, test your strategy and prove your skills in real market conditions. When it comes to the speed we execute your trades, no expense is spared.

Both the app and desktop versions of the MetaTrader 4 software are relatively straightforward and easy to use. While it’s true that to take full advantage of some of the platform’s features you’ll need to work a bit, it’s still possible to use both relatively easily. To draw on charts, you simply select the object from the toolbar and click on the chart. You can adjust the width and positioning of some objects by moving your mouse as you click on the chart, while others open a separate window in order to do so.

MT4 indicators and add-ons

Thousands of free and paid signals with various profitability and risk levels working on demo and real accounts are at your fingertips. 23 analytical objects and 30 built-in technical indicators greatly simplify this task. Add-ons, on the other hand, are more designed to help you customized the MT4 platform to your individual trading style and goals.

Some of the indicators that we give you for free include pivot points, order history and the Renko indicator. The client terminal includes a built-in editor and compiler with access to a user contributed free library of software, articles and help. The software uses a proprietary scripting language, MQL4/MQL5,[13][14][15] which enables traders to develop Expert Advisors, custom indicators and scripts. MetaTrader’s popularity largely stems from its support of algorithmic trading. The first is that it’s highly customisable to your individual trading needs and preferences.

What is an MT4 broker?

69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing is etoro a scam your money. PayPal has become a popular method for depositing and withdrawing money from live forex trading accounts, and there are a number of highly rated, well-trusted forex brokers that support the use of PayPal.

Partner with ThinkMarkets today to access full consulting services, promotional materials and your own budgets. Boost your knowledge with our live, interactive webinars delivered by industry experts. Smartphones and tablets are indispensable in trading when you are away from your computer. The built-in Market is the best place to find an Expert Advisor or a newest technical indicator. The powerful MetaTrader 4 trading system allows you to implement strategies of any complexity.

The second is that it can automate your trading by implementing algorithms that open and close positions according to pre-set parameters. Most EAs have a range of customizable parameters that let users specify the position size and risk/reward-related attributes, among other elements, that may be configured before automated trading is enabled. IC Markets offers third-party platform plug-ins for MT5, as well as a robust order execution policy.

MetaTrader 4 trading platform — What is MT4?

This will usually open a window, where you can customise how the indicator is displayed. MetaTrader 4 is a platform for trading Forex, analyzing financial markets and using Expert Advisors. Mobile trading, Trading Signals and the Market are the integral parts of MetaTrader 4 that enhance your Forex trading experience. Now that you’ve seen our picks for the best forex brokers for MetaTrader, kvb forex check out the ForexBrokers.com Overall Rankings. We’ve evaluated over 60 forex brokers, using a testing methodology that’s based on 100+ data-driven variables and thousands of data points. It executes more trading volume than any other MetaTrader broker each month and offers the full MetaTrader suite alongside competitive pricing, add-on trading tools, and quality market research.

A popular Forex trading application

The built-in tick chart feature provides an accurate method for determining entry and exit points. With the rich functionality of MetaTrader 4 you can implement various trading strategies in the Forex market. Backtesting (the practice of testing trading methods on historical prices) is another benefit of automated trading since it applies trading rules to past market data. On implementing effective backtesting, traders may readily analyse and fine-tune trading ideas, which they can subsequently employ in their own trading practices for improved outcomes. From within the terminal (Ctrl + T), go to the ‘alerts’ tab on the bottom left and right-click.

MetaTrader 4 and MetaTrader 5 (MT5) belong to a suite of trading platforms developed by MetaQuotes Software Corp. for mobile, web, and desktop computers. SmartAsset Advisors, LLC (“SmartAsset”), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Both options will produce a report detailing individual trades plus an account summary.

If you want to remove or edit an object, right click on the chart then select ‘objects list’ from the menu. A window will open that displays a list activtrades review of all the active objects shown on the chart. Select the one you want and click ‘edit’ to customise the indicator settings or ‘delete’ to remove.

When you’re ready to place a trade, go to ‘tools’ and click ‘new order’. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes.