FAQ
What is MetaTrader 4 (MT4)?
MetaTrader 4 (MT4) is a popular trading platform developed by MetaQuotes Software for online trading in the forex, contract for differences (CFDs), and futures markets. It provides tools and resources for analyzing price, placing and managing trades, and employing automated trading techniques.
How do I download and install MT4?
You can download MT4 from your broker's website or directly from the MetaQuotes website. After downloading, run the installation file and follow the on-screen instructions. Once installed, you can log in with your trading account credentials.
Is MT4 free to use?
Yes, MT4 is free to download and use. However, your broker may have specific account requirements or charge spreads and commissions on your trades.
Can I use MT4 on my mobile device?
Yes, MT4 is available on both Android and iOS devices. You can download the mobile app from the Google Play Store or Apple App Store.
How do I open a trade on MT4?
To open a trade, click on the "New Order" button on the toolbar, select your desired instrument, set your trade size, and choose your order type (e.g., Market Order, Limit Order). Then, click "Buy" or "Sell" to execute the trade.
How can I add indicators to my MT4 chart?
Right-click on the chart, select "Indicators List," and then click "Add." Choose the indicator you want to add from the list and configure its settings as desired.
Can I use automated trading strategies on MT4?
Yes, MT4 supports automated trading using Expert Advisors (EAs). You can develop your own EAs using the MetaEditor tool or import EAs from other sources.
How do I backtest a trading strategy on MT4?
To backtest a strategy, go to the "Strategy Tester" window, select your Expert Advisor, choose the historical data range, and configure your testing parameters. Click "Start" to begin the backtest.
What is the difference between a demo and a live trading account on MT4?
A demo account allows you to practice trading with virtual funds and is ideal for testing strategies and getting familiar with the platform. A live trading account involves real money and real market conditions.
How do I get support for MT4?
For technical support or assistance with MT4, you can contact your broker's customer service team or visit the MetaQuotes website for resources and FAQs.