(Newswire.net — July 20, 2020) — Do you need a step-by-step tutorial on MetaTrader 4? MetaTrader 4 or MT4 trading platform is one of the most used trading platforms by traders all over the world. It is free and it is designed with tools and indicators to use in Forex and other assets. If you want to start trading with a broker with this platform, we present MetaTrader 4: Step by step.
MetaTrader 4, or MT4, is a free multibroker trading platform and is the working tool through which traders who open an account with a broker can execute orders in the market, open and close positions and, in general, trade. It is like the canvas where the trader works, and it is designed to offer you the necessary tools to trade Forex.
Before starting with MetaTrader 4, let’s see some of the attributes that this platform offers:
– It is free, so when using it you will not pay commissions for the platform.
– It is multibroker, that is, you can find it in many of the best online Forex brokers.
– You can execute orders instantly or schedule them according to certain parameters and have them execute automatically when the market reaches those prices.
– It is ideal for both beginner and expert traders as it is easy to use and you can customize it according to your needs and preferences.
– Fast execution.
– Trading Signals, Mobile Trading and the Market are additional services that extend the functionality of MetaTrader 4 to new horizons.
– It is available for Windows, Mac OS, Linux, iPhone, iPad and Android.
– News and market data for free.
Having seen this, let’s see a quick guide to MetaTrader 4: Step by step to get you started using the platform:
MetaTrader 4: Step 1 – Download and install MT4
Unlike online platforms that can be used on any computer with the trader’s username and password, MetaTrader 4 is a downloadable trading platform, so the first step in using it is to download it to your computer. How to download MT4? Easy, just enter the broker where you want to open your account and look in the Platforms section for the option “MetaTrader 4”, then choose the type of operating system of your computer and follow the download instructions:
– Once the MetaTrader 4 platform is downloaded to your PC, run the file and follow the instructions of the installation wizard.
– The installation process will create a shortcut for MetaTrader on your PC and will decide the location of the program files by default. However, you can specify a different location of your choice.
– Once the installation has finished, you can run it by double-clicking on the shortcut or entering from the location you have given it on your computer.
MetaTrader 4: Step 2 – Open an account on MT4
Once the platform is downloaded, the next step is to open an account on MT4. You can open a demo account or a real account. The recommendation is that you always use the demo account first, they will give you a certain amount of fictitious money with which you can operate with the same charts.
What is the purpose of the MT4 demo account? Basically there are two: the first is to know the platform and its different tools and indicators available to you in MetaTrader 4. And the second is to plan and practice your own trading strategy, the one that will give you the most positive results. You can open it by entering the Broker Register button.
After practicing with the demo account, you are ready to open a real account in MetaTrader 4, which is done by filling out a form to customize your account and sending the requested documents. Then you will have to make the initial deposit; At this point you will have different means of payment to make your deposit. Both the amount of the deposit and the means to do so will depend on the broker, not MetaTrader 4. The most common means are: bank account, Visa or MasterCard credit card, Neteller and Skrill.
MetaTrader 4: Step 3 – Login to MT4
To log in to MetaTrader 4 and connect to your account you must follow these steps:
Run the MetaTrader 4 program on your computer.
In the File menu, select “Connect to the trading account” and enter the following data:
Your account ID number,
Trader’s password, this is the password that allows you to trade
Put the server that the dropdown indicates,
The email with the keys includes the investor’s password, which, unlike that of the Trader, does not allow trading but does give access to open positions, balances, real prices, and even gives access to expert advisors.
You can choose between letting your data be saved when you close the platform or having to enter it every time you want to log into MT4.
MetaTrader 4: Step 4 – Trade MT4
Now, yes, you are ready to trade MetaTrader 4 and open your first position. How to execute an order in MetaTrader 4? The first thing is to open a New Order, for which you have three options:
The first way to open a New Order, and the most used, is by double-clicking on the instrument you want to trade in, the Market Watch sale.
The second way is to click the New Order button on the tool menu.
The third way is by right-clicking on the chart over the chart and choosing New Order.
The last way is by pressing F9.
Hopefully this guide is useful for you. Good luck!