Many financial brokers have developed their own trading platforms in order to attract clients. MT4 is the best platform because it integrates seamlessly into major platforms. If a trading platform does NOT offer MT4/MT5, it is often considered a negative. The evolution of MT4 with Bitcoin, implementation of bots and automated trading are all examples of innovation. Today, we’ll be focusing exclusively on the MT4 platform. To highlight the differences between MMT4 and MMT5?
What is MT4 Trading exactly?
MetaTrader 4 (MT4) is the abbreviation for MetaTrader 4. It is one the most well-known and widely used Forex trading platforms. Forex traders can easily find all the information they need to trade Forex. This section of the MT4 Forex trading platform is where you can find all this information.
It offers tools that allow you to analyse the financial markets at any moment and on multiple devices. It is easy to use, and traders and brokers often include it as part of their trading strategy.
MT4 is a platform for all levels of traders. Even beginners can use it.
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How to trade and use MT4
Follow these steps if you enjoy MT4 and wish to use the MT4 Automatic Trading System.
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73% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 78% of retail investor accounts lose money when trading CFDs from this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
- Add MT4 on your platform
You won’t be able MT4 if it isn’t available on your platforms. To download it or to open an MT4 Account with Admiral Markets, all you have to do is to download it.
- You can adapt this graphic to fit your personal style.
It’s possible that the charts you see in MT4 aren’t to your liking when you first open it. To make the interface more appealing, right-click on the chart and open the property function.
- Move the chart
Right click and hold your mouse. You can cancel the scrolling by clicking the icon at the top. Zoom in and out on your graph using the plus/minus symbol.
- You can choose your time unit:
Click on the clock icons to select your time unit.
- Available assets
Click on available assets and right click to view your broker’s assets. Click on the assets you require and you can hide others.
- How to open a trade
Click right, then click trade and select a new order. The window that opens will allow you to create your order and set the purchase conditions. You have the option of selling or buying at market. You must accept the terms of your order.
How do you get MT4
This question is frequently asked, such as: How to download MT4 for Windows? To make it easy to download MT4, we offer these two options.
1. Get it
This method is easy to use, you only need a desktop or mobile device, such as a smartphone.
2. You can get it through a broker
Many brokers have already integrated MT4 into their platforms as it is a popular platform. It is easy to get it:
- Locate an MT4 Broker: More specifically, locate the best broker that uses the MT4 platform.
- You should not fall for a scam website.
- You can find Platforms at the top of this site. Click it and choose MetaTrader 4.
- To open an account, click on Create a new account. Fill out the registration form. Once you have validated your account, click on Open a new account.
You don’t have to download MT4 after you’ve done these steps. Your account already uses the MT4 platform.
How do I download MT4?
Download MT4 to your trading devices for free. Here’s how to do it.
- Metatrader4.com is the keyword to search for MT4 sites
- Change the language to your liking. Click the language icon located at the top of the page.
- You will find several options depending on what screen you are using. If you’re using Windows, click Download MetaTrader 4 Windows. You have two options: Linux or macOS. Download from the App store for iPhones or iPads. Android smartphones and tablets can be downloaded from Google Play or AppGallery.
- After downloading the file, press “Install” to begin installation
Trading MT4 – The Different Types of Orders
Orders are the instructions that you give to your broker. These orders can be placed via your MT4 platform. They will be sent directly to your broker.
MT4 has 8 types of orders. These orders are divided into three distinct categories.
- 2 Market orders
- 4 pending orders
- 2 stop orders
1. Market Orders
These orders can be either buy- or sell-oriented. Market orders can be executed immediately. The order is executed at the moment it is received. Purchases are made at bid prices, and sales are made for the offer price.
2. Pending Orders
Pending orders are different from market orders. They are made when the asset price reaches a certain threshold and fulfills the conditions specified by the trader. Once the target rate for the trader is met, the broker will execute the order.
3. Stop orders
These orders are defined by thresholds that trader do not wish to exceed. This is the principle “take profit” or “stop loss”. The order will be automatically activated when these thresholds have been reached and the position will be closed immediately.
These orders are intended to maximise profits and reduce losses. These orders are different from the first two. Stop orders must be accompanied either by market orders (or pending orders)
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Which Broker Should You Use with MT4
Before diving into the details it is important to determine which MT4 brokerage to use. This is an important step as most traders use MT4 brokers to protect their investment.
1. Criteria for selecting a broker
You cannot choose a broker by chance.
- Security of the broker
- Regulation: A broker that is licensed and under the control of a regulatory body is more trustworthy. This will improve the broker’s reliability.
- The experience, credentials and customer reviews of the broker will enable you to assess where your broker is at the moment and how it is perceived within the market.
- Broker’s services, offers, and fees: Make sure these three points are in line with your expectations. Otherwise, you will be wasting your time.
- Systems and platforms: Brokers must offer their clients additional systems and platforms to optimize trading and give them more control over their trading tools.
2. A great MT4 broker you should consider
We chose to use Admiral Markets as an illustration.
It is a broker who has been trading on the market for more 20 years.
Admiral Markets has been regulated by many authorities, including ASIC and FCA. You can see the broker’s website if you want to know more about liquidity partners.
Admiral Markets also provides its clients with the most powerful trading platforms, including the MT4 & MT5 platforms.
Market Analysis with the MT4
Forex trading is complex and traders must do both technical and fundamental analysis before they make a decision. MT4 provides these tools to its clients, which are based on the most advanced technologies. This is the reason MT4 is so well-known in today’s market.
Technical Analysis with Microsoft MT4
Forex technical analysis can be used to predict future exchange rate movements, to predict market movements and trends like entries and exits, as well as to establish stop loss or take profit levels.
MT4 has many technical analysis tools such as:
- 30 integrated indicators
- Free personal indicators for over 2,000 people
- More than 700 paid indicator
- 24 analysis objects
- 9 periods,
- Unlimited number of charts.
If you find these tools insufficient, MT4 may be the right tool for you.
- You can also download additional indicators for free from our basic code service.
- Create your own indicator
- You can also buy applications from the Market.
MT4 lets you adapt the technical analysis tools to meet your needs.
Fundamental Analysis on MT4
To gain as much information about the elements that may influence the price of an asset, traders use fundamental analysis. Forex markets are highly volatile and complex. The problem for traders is they might miss important news or miss out on lucrative investments.
MT4 provides its clients with the fundamental analysis tools they need to monitor the Forex market and identify good opportunities. These tools include alerts and news.
These are a form of notification that MT4 sends in case there is an important event in the market. You can control the conditions of your alert so that MT4 will send you an alert when the price of a bid exceeds certain thresholds.
MT4 will send you emails or sound signals informing you of any important changes. You can also configure alerts to be sent via SMS or notification to your mobile phone.
- The news
This includes all major news that could affect Forex markets, including economic instability in countries that could have an impact on the currency price. This page contains all information that could affect Forex and your trading. This is especially helpful for traders who move frequently, as they can track the evolution of their assets live.
How to Use a Robot in MT4
Trading robots allow traders to place orders instantly without needing to be on their computers every day. These trading robots can also be called Expert Advisors.
MT4 provides trading robots just as other platforms. There are many robots in MT4, and there are many.
Here are the steps to getting an MT4 robot.
- Free download or purchase of your trading robot.
- Log in to the MT4 platform.
- Click on market.
- You can choose the tool you wish to buy (in this example, the robot).
- Select and describe the robot you wish to use (paid or free).
- You can use the payment options on MT4 to pay for it if it has been paid. You can also use the demo mode to test it for free.
We’ll show you how to use MT4 after you get it.
- Click “Install” to continue downloading and installing.
- You will need to enter your code and password in order to activate it.
- After activation you will receive confirmation emails and a window on your platform will open.
- Configure your robot to meet your risk level and conditions.
- The robot will take over.
MetaTrader 4: Why use it? MT4 trading: Advantages & Disadvantages
MT4 is a popular and well-known platform on the market. The MT4 trading system still has its benefits and drawbacks.
|– Free platformIt is simple and intuitive to use.|
– All types of traders can use this product.
– Access to many analysis tools
– Existence of an automated trading robot
– Free demo account on MT4.
– Copy trading exists.
– Accessible 24/7
– Compatible with desktops and mobile devices
|– Limitation on assets to forex|
– It is less feature-rich than MT5.
MT4 trading: What assets are available?
Forex is covered by the MT4 platform. Forex assets can also be bought.
Forex is the currency market in which currency pairs are traded. It is a complex market, with constantly changing rates. It is also one of the most liquid markets in the world and operates 24 hours a days, making it very active.
You can trade all major currency pairs using MT4, such as EUR/USD, GBP/USD and USD/JPY. You can also trade exotic currencies and minor currencies, also known as cross currencies.
Because the MT4 broker provides market access, it may be impossible to trade currency pairs that aren’t part of the broker. You can also buy bitcoin on it.
4 Tips before Trading with MT4 Broker
MT4 has become a very popular platform, so many brokers use it. These are the top 4 tips for MT4 brokers that you need to know before you trade.
1. Know your Broker
You don’t have to open an account with a broker just because they offer MT4. It is worth taking the time to learn about your broker, how much experience he has in the market, and if he is trustworthy.
Forex trading is extremely risky and can cause traders extreme stress. You will be able to understand your broker and limit your stress by knowing what to expect.
Do your research on the broker you are considering working with, such as their security and regulations. While it might seem excessive, having some knowledge about the broker that you will be working with is a great help.
2. Find out more information about rates
This is vital because it will be costly if the broker’s rates do not fit your needs after you have gone through the entire process of opening an account.
You might find that minimum deposit limits are within your financial budget but broker prices for trades seem to be higher than you can afford.
Our advice to you is to check the price of your product and, if it’s not within your budget, do not buy. Instead, save your money and leave it alone.
3. The Platform is available for testing
If you’re a fan of the broker, and you have an account already, we recommend you to try the platform again.
While you may not be a professional, it may seem unnecessary to test. However, it is always better. It will not be a surprise and you will know the basics of the platform before starting trading. This will make it easy for you to sign up for the MT4 trading portal.
It’s also a great way for you to get to know your broker and the MT4 Platform. These features will come in handy when trading CFDs, including MT4 Copy trading.
4. Do your own research
Research brokers and MT4’s workings. Only by researching and testing different brokers using demo accounts can you determine which platform is best for you. Your decision may be made easier by reading customer reviews and looking at youtube videos.
Conclusion: Which MT4 Broker Should You Choose?
Now that you understand MT4, are you ready to trade with this platform? If the answer is YES then we recommend that you choose the best broker to trade MT4. This will ensure that you do not lose any money. Although all brokers might offer the MT4 platform and not all MT4 broker are reliable. Give a regulated broker such as Admiral Markets a try.