How To Use MetaTrader 4? Forex Trading Platform

This MetaTrader 4 tutorial will give you a quick and easy overview of everything you need to know about setting up MetaTrader 4, how to trade with MT4, and many other topics. This MetaTrader 4 review will guide traders to master. It uses screenshots and provides detailed explanations. We discuss here How To Use MetaTrader 4?

MetaTrader 4
MetaTrader 4

How To Use MetaTrader 4? Forex Trading Platform

You may first wonder, “What is MetaTrader 4?” You can find out more here.

MetaTrader 4 is a Forex trading platform that allows traders to trade and analyze the financial markets. Allows traders to trade in an advanced environment that is fast, safe, and reliable. It is a popular platform among traders because of its many features. It is easy to download, install, and start trading.

The “How to Use” guide will provide clear instructions on how you can use almost all the features that the MetaTrader4 platform has to offer. Let’s get started!

Setup MetaTrader 4

This tutorial for MetaTrader 4 starts with the first step: the MetaTrader 4 setup. It can be used on both 32- and 64-bit systems. We have you covered, no matter if you’re trying to use MetaTrader 4 on your Mac or PC. Linux users will also be covered by this section.

Before we get started, let me address some common questions.

Many traders wonder if MetaTrader 4 is expensive. No. MetaTrader can be downloaded for free.

Secondly, you might ask “Is Meta Trader 4 secure?” It all depends on how you use it. Although MetaTrader 4 is a safe platform, trading can still be risky, regardless of whether you use the xm MetaTrader 4, or another platform.

How do I set up Meta Trader 4 then?

Let’s get started.

Linux: Setting up MT4

I will be covering the Ubuntu distribution kit for Linux-based systems.

Wine is required to set up MetaTrader 4 on Ubuntu. Wine is free and allows Linux users to run applications that are designed for Windows systems. Wine for Ubuntu users will require the Ubuntu version.

MetaTrader 4
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These are some of the things you should be aware of:

  • Wine is not fully stable. Wine is not perfect. As such, certain features in any Wine-based application may fail or stop working.
  • It is strongly recommended that Ubuntu and Wine users both be updated. The MT4 platform is most stable if both systems are up-to-date.

Just type the following command to install Wine on the command line (in Ubuntu this is the “Terminal”)

sudo apt-get install wine -stable

This command will install the latest stable version of Wine. Double-check that you are entering the correct command before you enter it in your Terminal. The commands change as new Ubuntu versions are released and developers update applications. Next, download and install the MT4 platform through Wine.

MetaTrader 4 Set up a Mac

Apple has removed 32-bit support from the Mac OS X Catalina. Many applications have been affected, including MetaTrader trading platforms. Parallels Desktop allows you to create a virtual machine on your Mac using Parallels Desktop.

Virtual machines are a way to emulate a computer. They allow you to run an operating system such as Windows on another machine. If you are a customer at Admiral Markets, you get three months of Parallels Pro for free. We will explain the eligibility requirements later. Parallels allow you to use MetaTrader 4 with the installation:

Admiral Markets offers you the opportunity to open an account

How do I add a broker in MT4?

Firstly, you need to open this account with Admiral Markets. Parallels Pro is available for free for three months if you have a minimum EUR3,000 account balance.

  • Get your license
  • Head to this page and fill out your details to register for Parallels. After you submit your request, our team will verify your eligibility and send you your license key so you can start Parallels Pro.
  • Parallels for Mac
  • Next, you will need to download Parallels for Mac

After the file is downloaded, open it and follow all the instructions.

After you have installed Parallels for Mac and entered your license code, you can install a virtual machine.

This is where you will find the differences in how your installation goes depending on whether or not you want to use Windows 10 and Mac OS Mojave. Parallels to Install Windows 10 If you prefer Windows 10, it is extremely simple! The screen below will show you how to install a virtual computer. Click the icon labeled “Get c 10 From Microsoft” to open the screen.

The next screen will prompt you to purchase Windows 10 from Microsoft Store. You can download Windows 10 if you have a license key. After it has been downloaded, you can activate Windows using your license key.

While the installation is going on, you might be asked some setup questions. This is similar to when you turn on a new computer. It can take quite some time depending on the capabilities of your Mac. That’s it!

Once the virtual machine has been created, open the internet browser within the virtual machine, head for this, and follow the instructions for downloading MetaTrader 4 for Windows! Parallels is used to install Mac OS Mojave. Installing Mojave with Parallels is slightly more difficult. Parallels do not allow you to directly download Mojave from Parallels, as it is with Windows 10. We will guide you through each step.

which will ask your permission to open your Apple App store at the page for downloading Mojave. Without this link, Mojave will not be available in the App Store.

To begin your download, click the “GET” button. After you have been asked whether you are certain that you want Mac OS Mojave to be downloaded, click “Download”. It will not automatically reinstall Mojave, so instead download the Installer program.

Due to the large size of the file, it may take some time for the download to complete. Mojave should stop running automatically after it finishes downloading. If it does not, you can simply quit the installer. Go to Parallels and create another virtual machine. This screen will appear:

Click the middle icon to “Install Windows or another OS from an image or DVD”. Parallels should automatically find the Mojave installer as shown below.

MetaTrader 4
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Parallels will not automatically locate it. Select “Choose manually” and then “Select file”. You will find the Mojave installer in your Applications folder. You will need to make sure you have the “All files” drop-down selected, as shown below. Otherwise, you won’t be able to select the installer.

After selecting the file, click continue. Parallels will convert the file into a Disk Image in order to create a virtual computer. Parallels will ask for a name for the virtual machine once it has been converted. Then the installation will start. As you would for a new computer, you will be guided through the setup options. This can be a lengthy process depending on the capabilities of your Mac.

Once everything is finished, open an internet browser via your virtual machine, head to this page, and follow the instructions for downloading MetaTrader 4 for non-Catalina Macs! Now you are ready to set up.

This tutorial will show you how to set up on your phone.

How to set up MT4 on Android?

Do you want to set up MetaTrader 4 on your Android phone? The MetaTrader 4 app can be downloaded from the Google Play Store or downloaded via Admiral Markets.

How to set up MT4 on iPhone?

Maybe you’re interested in setup for your iOS device. Here’s how to use the MetaTrader 4 app on iPhone: you can download a special Admiral Markets version to work on iOS devices. Simply go to the Apple Store and search for Admiral Markets MT4 to start your MetaTrader 4 setup.

How to log in to MetaTrader 4

The next step in the MetaTrader 4 setup process is to download the platform. You should be prompted to log in to your account when you launch MT4 for the first time. Then you can either enter your demo trading account or complete trading account details.

How to log out from MetaTrader 4

Your MetaTrader 4 setup is complete. There is no function to log out of MetaTrader 4. If you don’t want MT4 saving your login details, make sure that ‘Save Account Information” is not checked when you log in. MT4 will then log you out automatically when you close it.

Trade with Admiral Markets

Admirals provide trading with CFDs for 40+ currency pairs. If you’re inspired to trade, Admirals can help! Click the banner to open a live account!

Trade with MetaTrader 4

After the MetaTrader4 setup, traders then move on to trading. To speed up their learning, some people decide to use a tutorial. This tutorial will show you how to trade with MetaTrader 4.

How to trade MetaTrader 4 (MT4): How to trade currency pairs using MT4

Let’s take a look at how to trade forex with MetaTrader 4 (MT4). Is the easiest way to open a forex trade. You can use the “Order” window to place an immediate order on the market. Select the of your choice by clicking on the ‘Window’ tab at the top of the MT4 platform, and then select ‘New Window’. To open an ‘Order” window, click ‘New Order’ or F9 on the MT4 toolbar.


Below is an example of the ‘Order’ window that offers for the EUR/USD currency pair. You should now be able see how easy it can be to sell and buy with MetaTrader 4. You will need to input your desired trade size in lots in the Volume box. Next, click ‘Sell/Buy’ and select ‘Market Execution” as the order type.

This setting allows for an instant order. However, trading at the market isn’t the only way to trade within MetaTrader 4.

You can also select to sell or buy using a limit, or a stop order. Select your preference from the dropdown. This allows you to sell or buy on MetaTrader 4 at a specific level away from the current market price.

 

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