How to Trade like a Pro with Meta Trader 4

Meta Trader (MT4) is a leading trading platform. It's accessible for downloading on mobile apps, Windows, and Mac. Most brokers are offering the tool. Given its striking features and easy functionality, there is no reason why you should not start using this excellent trading tool. In a moment, we’re going to look at how to use MT4 on your mobile and the system requirements.

MT4 History

MetaQuotes software is the developer behind the innovative MT4 platform. It’s indeed a great trading tool. It was released in 2000. Since then, the platform has undergone massive transformation making it more ideal for modern trade. In 2005, the developer introduced a customized version that was highly welcomed by users across the world. As a result, the platform is a big deal among professional and young traders.

Initially, Meta Trader 4 was exclusively meant for forex trading. But that’s no longer the case. Today, it accommodates a wide variety of markets. For instance, traders use it to trade CDFs, commodities, cryptocurrencies (such as Bitcoin and Ripple), stocks, and futures.

Process of opening the MT4 account

If you intend to get started on MT4, you are on the right track. The process is simple and does not require technical know-how. The trading tool is downloadable for free from its MetaQuotes site. Besides, you can get it from online brokers once you sign up for a demo or real account.

What are the system requirements?

MT4 is compatible with Linux and MacOS. Basically, it works with a broad range of devices, including Windows 10, 8, and 7. You can access the platform on Mac, iPhone, and so on.

Setting Up Meta Trader 4

After you download the app on your device, it’s time to create an account and then log in using your credentials. That way, you can customize the platform to suit your trading preferences. You can change chart set-ups and select between dark and light mode.

After signing up, you are going to see information about trading costs, spread, and commissions. Note, swaps fees are charged daily against your account. Swap is received or charged interest after each trading day. This will depend on your trading position.

To check your margin levels and account balance, just open the terminal. In case your balance isn’t enough to meet a leverage requirement and you happen to place a trade, a ‘not enough money error’ will pop out.

If you want to withdraw or deposit funds in your MetaTrader 4 account, hit the 'withdrawal' or 'deposit' option in your account. After that, select either of the payment methods provided. Note, the payment fee solely depends on the payment method chosen and the broker. However, a free option exists.

Trading with MT4 Mobile apps

This platform is famous, primarily because it allows users to carry out trading activities on their phones. Incredibly, trading on the phone does not affect the platform’s functionality. Therefore, a business person who wants to trade on the go is catered for. As for mobile traders, there are 9-time frames, 30 technical indicators, three types of charts, market news, as well as a chatbox. The latter enhances communication between traders.

Android users can access the MT4 APK file from Google Play Store. As noted earlier, MT4 is compatible with several devices, including iPads, iPhones, and other Windows devices. Installation guides and tutorials containing download instructions are available on the respective app store.

MetaTrader Support system

When venturing on a new trading platform, it’s reasonable to get concerned about its customer support system. You will be impressed to know that Meta Trader 4 has an active customer support program.

For instance, if you want to know more about the tool’s basics, you can start by speaking to a representative. On Meta Quotes’ site, there is the ‘contact us page.' Therefore, you can visit the section in case of any questions or concerns.

However, you can be sure that MT4 is an easy to use trading tool. Even without any technical knowledge, you are going to navigate through the platform easily. But that doesn’t mean that you won’t need customer support service. They have more in-store, and hence you should not hesitate to talk to Meta Trader 4 courteous customer support staff.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes