Trade forex anytime, anywhere with Metatrader 4 on your phone! Instructions for using MT4 on your phone for beginners. Metatrader 4 (MT4) is one of the most popular trading platforms. A platform for investors in the foreign exchange market. With MT4, users can make transactions and manage accounts. Or track your asset value anytime and anywhere.
In this article, we invite you to join Learn Forex Trading to learn about how to use MT4 on your phone with each specific step!
Download the MT4 application on your phone
To start using MT4 on your phone, downloading the MT4 application is necessary. MT4 has currently been developed and supported on many different phone platforms. Includes iOS and Android. Downloading the MT4 application to your phone is very simple and convenient.
If you use the iOS operating system, you can search and download MT4 from the App Store. At the App Store, you just need to enter the keyword ” Metatrader 4 ” into the search box and select the appropriate results. Then, press the download button and wait for the app download and installation to complete.
If you use an Android phone, you can search and download MT4 from Google Play. At the Google Play app store, simply search for ” Metatrader 4 ” and select the appropriate result. Then, press the download button and wait for the app download and installation to complete.
However, before downloading and installing the MT4 application on your phone, it is advisable to check that your device is. See if the device meets the application’s technical requirements. This is very important! To ensure that you can use the MT4 application in the smoothest and most efficient way.
See more: Let MT4 help you solve all your trading difficulties
Sign in to your account
After completing the download and installation of the MT4 application on your phone. You need an MT4 login to your account to start trading.
If you already have accounts on the desktop version of MT4, you can use them to log in on your phone. In case you do not have an account, you can create a new account directly on your phone through the application.
Logging into your account on your phone gives you access to your transaction history. And your account information.
Additionally, logging in allows you to use MT4 features and tools. To analyze the market and make accurate trading decisions.
Instructions for using Metatrader 4 on the phone
After downloading and logging in to the MetaTrader 4 application on your phone. You are ready to make transactions on the financial markets.
Make trades on MT4 on your phone
Here are the basic steps to trade on MT4 on your phone:
- Select the currency pair you want to trade by clicking the “+” icon in the “Market Watch” section. And then select the desired currency pair.
- Choose the type of time frame that suits your trading strategy. By clicking on the small rectangular icon next to the selected currency pair name.
- To open a new position, you can click on the “Trade” icon in the lower left corner. And then select “New Order”. You will be redirected to the “Order” page to make the transaction.
- On the “Order” page, you need to select the lot size, leverage level, and Stop Loss and Take Profit levels (if desired). Then you can click the “Sell” button. Or “Buy” to open a sell or buy position respectively.
- Once you have opened a position, you can track its progress on the chart and manage your positions by clicking the “Trade” icon in the lower left corner. Then select “Trade” or “History” to view your trading history.
Note when trading on MT4 on your phone
In addition, MetaTrader 4 on mobile also provides many other useful tools and features to support traders during the trading process. Such as technical indicators, trading notifications, account management, and risk management.
After logging in to your account, you will see the main MT4 interface on your phone. Here, you can make transactions directly from your phone.
To open a new trade, you can select the currency pair you want to trade and click on the “Trade” button. From here, you can enter the trade amount and open the order. You can also monitor your account by viewing transaction information and transaction history.
Customize the MT4 interface on your phone
MT4 on mobile offers users many opportunities to customize the interface according to their trading needs. Here are some options to customize the MT4 interface on your phone:
Change background color
You can choose a background color that suits your eyes and preferences. To make observing easier. To change the background color, you can go to “Settings” and select “Colors”.
Change the chart
MT4 on mobile allows you to change chart types and their timing. You can choose between charts such as Japanese candlesticks, lines and bars. To change the chart, you can click on the chart icon in the upper right corner of the screen.
Choose indicators and tools
MT4 on mobile also provides many different tools and indicators to support technical analysis. You can choose from a variety of tools. And various indicators to customize your look. To add tools and indicators, you can click on the “Indicators” icon on the top left of the screen.
Add currency pairs
You can add the currency pairs you are interested in tracking on MT4 on your phone. To add currency pairs, you can click on the “Quotes” icon on the left corner of the screen. Select the currency pair you want to add.
In short, customizing the Metatrader 4 interface on your phone makes trading easier and more convenient. You can customize the background color, chart type, tools… Or indicators to suit your trading needs.
See more: Instructions for registering an Exness account
Use basic functions on MT4 on your phone
Compared to MT4 web, MT4 on the phone also has similar functions. Once you have customized the interface to your liking, you can start using the basic functions of MT4 on your phone. This includes:
- View charts and make trades. You can view charts and make trades on your phone by tapping the “Chart” icon. Then select the currency pair you want to trade. You can then choose the chart period. And make transactions by tapping the “Buy” or “Sell” icon.
- Monitor your trading account. You can view your account information. Include balance, profit, and current trading rates by tapping the “Account” icon.
- Using technical indicators: Metatrader 4 allows the use of many types of technical indicators to analyze the market and make trading decisions. You can touch the “Indicator” icon.
- Manage orders and trading positions: You can touch the “Trade” icon. Here, you can view your open orders, and trading history, and perform actions such as opening a new order, closing an order, or editing an existing order.
Conclude
Using Metatrader 4 on the phone helps traders to trade anytime, anywhere conveniently and easily. By customizing the interface and using MT4’s tools and features, you can optimize your trading process and improve your ability to make accurate decisions.
However, trading on phones also has certain limitations, such as the small screen and processing capabilities of the device. Therefore, you need to pay attention to potential risks when trading on your phone and always follow risk management rules to avoid unwanted risks.
In short, using MT4 on your phone is a great option for forex trading and is also a useful tool for managing your trades. However, you need to use it maturely and carefully to achieve profits and avoid potential risks. Hopefully, this article shared by Learn Forex Trading has helped you better understand this MT4 trading platform.
