Let MT4 help you solve all your trading difficulties

Currently, MT4 is the most popular forex trading platform/software. Although there is a more upgraded version of MT5, MetaTrader 4 still occupies a position that is difficult to replace. So what specifically is MT4? What are the features of MetaTrader 4? How to download, log in, and use MetaTrader 4 ? Join Learn Forex Trading to solve all difficulties in trading with MetaTrader 4 through this article!

What is MT4 that any trader should know?

MT4 is the short symbol for Metatrader 4, software for trading foreign exchange, stocks, cryptocurrencies, indices,… MetaTrader 4 was developed and released in 2005 by the leading software company MetaQuotes.

It is the earliest trading platform and up to now, although there are many other platforms, MT4 is still the most chosen. The reason is that Metatrader 4 combines the most basic and complete system of tools and indicators that are easiest to use. Helps traders analyze market fluctuations accurately, thereby placing orders effectively.

In particular, MT4 is also supported by most brokers. Compatible with all devices such as computers, phones, or tablets. Suitable for all operating systems from Windows, macOS, iOS to Android.

Explore the main functions of MT4

Below are the most outstanding functions that MT4 provides to traders, explaining why this platform is so popular:

• Allows running automatic programs such as EA (forex robot) to monitor or perform transactions, and find signals using pre-programmed algorithms.
• Provides built-in or custom indicators for opening/closing orders, take profit/stop loss.
• The Depth of Market function helps traders measure market depth and consider high and low liquidity markets to participate in.
• The Market Prices function helps MT4 quote market prices in real-time.
• The one-click trading function allows you to make transactions with just 1 touch.
• Providing the most complete technical indicator system, typically such as Trendline, RSI, MACD, Fibonacci,… From there, supporting traders to analyze market fluctuations most accurately.
• Processing multiple large-volume orders at the same time.
• Custom indicators or time cycles can be set.
• Store data completely and safely. At the same time, prevents information theft thanks to the transaction IP hiding function.

See more: Instructions for registering an Exness account

Is MT4 a safe platform for users?

The field of foreign exchange investment contains many opportunities but also many potential risks. So is MT4 safe for users? Is Metatrader 4 a scam? That is the top concern and biggest concern when choosing this platform to trade. 

The answer is extremely clear, Metatrader 4 is extremely reputable, safe, and legal forex trading software. It is no coincidence that MT4 has accompanied the forex market since 2005.

What proves that Metatrader 4 is a reputable platform?

• MT4 is developed and managed by the famous software company MetaQuotes. Ensure full security standards.
• MT4 does not interfere with trading orders. MetaTrader 4 is essentially a bridge between traders and brokers. The main function is to support you in trading, receive quotes from brokers, and take positions for traders. 
• Metatrader 4 was chosen as the first trading software by the majority of leading reputable Forex trading platform
• Although MetaTrader 4 has an upgraded version rather than MT5 with more outstanding features, the number of traders using MT4 still dominates and continues to increase. This proves that MT4 is highly appreciated for its quality and reputation.
• MetaTrader 4 team of experts and support is extremely professional and enthusiastic. When using MT4, all your problems will be resolved promptly.

Why should you choose MT4 to trade?

MT4 is recommended by experts and receives good reviews from real users. This is the leading platform in supporting transactions with the easiest operations.

A variety of indicators are provided on Metatrader 4

MT4 provides users with 30 types of technical indicators. This number represents diversity, each type has its characteristics and functions. From there, it helps traders in analyzing and optimizing trading strategies. Includes a fast indicator (oscillator) that helps predict price trends and a slow indicator (momentum) that provides signals following volatility. 

Typical indicators that traders often use are MACD, RSI, Renko, Bands, Stochastic, Ichimoku, and ADX,…

Metatrader 4 popularity is wider than other platforms

To date, MT4 has linked with more than 30 thousand forex brokers. With the rapid development of technology and the international financial investment industry, many trading software/platforms were born after MetaTrader 4. However, no software can replace or have the overwhelming number of users of MT4.

Among them, MT5 is the junior version, improved from MT4. MT5 inherits basic features and integrates advanced features. However, MT4 still maintains the highest position in the hearts of the trading community.

What functions does the MT4 toolkit have?

MT4 provides traders with a full set of tools, performing order placement and price chart analysis functions. In particular, this toolkit is very clear and easier to use than other platforms. The most common tools that a trader uses are:

– Open Chart: used to open the chart of any currency pair/financial product (even not on Market Watch).

– Profiles: Displays multiple time frames of a currency pair.

– Market Watch: displays a list of currency pairs/financial products.

– Data Windows: Displays detailed information about a candle you point to on the MT4 chart.

– Navigator: displays your entire trading account, indicator list, EA.

– Strategy Tester: Rewind price history, and support tactical testing.

– New Order: Open a new order quickly.

– Virtual Server: install the VPS server.

– Auto trading: perform automatLearn Forex Trading.

– And many other tools on MT4 …

How to download MetaTrader 4 to your device?

Metatrader 4 is not only a trading software but also a bridge between broker and trader. Therefore, if you want to use MT4, traders need to choose brokers that support the MetaTrader 4 platform. Then register for an account with the exchange, download MT4, and log in to that account to trade. Here is the simplest way to download MT4 to your device:

How to download the MT4 app to your phone

• With an iPhone, click on the App Store application => Type the phrase “Metatrader 4” in the search box => Click on the cloud symbol with an arrow to download. If this is your first time downloading an app on your iPhone, you will need to enter your iCloud password.

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• For Android phones, click on the CH Play application => Type the phrase ” MT4 ” in the search box => Click the “Install” button to download => The application will be automatically installed on your device. 

MT4 Download on the computer properly

You can download the MT4 PC version on the home page of the broker you plan to open or already have an account with. Or visit the Metatrader4.com homepage and follow these steps:

Step 1: Click on “Download” on the main menu bar.

Step 2: Scroll down and click “Download MetaTrader 4 Windows” or a compatible operating system. Wait a few seconds and the MT4 installation file will be downloaded to your computer. This file will be saved in your computer’s Download file.

Step 3: After downloading, the file open button will appear in the bottom corner of the computer screen. Or you can go to your computer’s Download file, right-click on the mt4.setup file => Click Run => Select Yes => Select Next. Wait a few minutes for the installation program to complete.

How is the MT4 app different from the computer platform?

Characteristic	MT4 app	MT4 PC
Display	Optimized for small screens, inconvenient when performing in-depth analysis	Large, providing plenty of space for charts, price lists, and analysis tools
Feature	Can be omitted to optimize the mobile experience. However, basic transactions are still fully guaranteed	Provides several extended features, including multiple charts, single windows, and detailed analysis tools
Account management	At a basic level such as placing orders, checking balances, and transaction history.	Easier and more detailed
Updating data	Depending on the mobile connection, there is sometimes a slight delay but it is not significant	Faster thanks to better internet connection speed
Convenience	Trade anytime, anywhere, even on the go	More limited in time and space because you can’t always carry your computer with you

Depending on the specific need for flexibility and analytical requirements, users will choose MT4 PC or App version or both.

Overview of MT4 trading interface

After opening MT4 on your computer, you will see the following interface:

1. Main menu

The main menu bar at the top contains all the overall features of MT4. Specifically:

• File: includes functions such as opening charts/ logging in to accounts/ printing.
• View: includes small features such as Toolbar/ Market Watch/Data Widow/Terminal/Tester, etc.
• Insert: insert/add indicators/tools to the chart.
• Charts: Edit/add charts.
• Tools: Open a new command window/ edit indicators/robots/adjust the system.
• Window: Change/adjust the price chart window.
• Help: MT4 User Guide/Support.

2. Details in the View section

When you click on View, you will see:

• Toolbars: Is a toolbar located under the main menu bar that includes the following features: Standard (basic features such as Market Watch, Terminal, Navigator), Charts (Edit or add or delete charts), Line Studies (Manage, edit drawing tools), Timeframes.
• Market Watch: Area located on the left-hand side of the MetaTrader 4 interface. Here are forex codes, bid-ask prices, and spreads. You can open orders, view other charts, list currency pairs, etc.
• Data Window: Click View => Select Data Window or use Ctrl + D to display this window. Here we summarize information about currency pair names, closing prices, opening prices, dates, high and low prices, volume,…
• Navigator: Select View => Click Navigator or use Ctrl + N to make this window appear. There are 3 management functions indicator, account, and EA robot.
• Terminal: Located at the bottom of the MT4 interface, including open position list, pending orders, transaction history, currency pair status, economic news, volatility alerts, and EA information.

Detailed instructions for trading Forex on MT4

Below are the most basLearn Forex Trading knowledge that a new trader needs to grasp. Start from placing orders, viewing charts, closing orders, or drawing trendlines.

Types of orders that can be used to trade on MT4 

Market orders:

• Buy: Buy at the current price.
• Sell: Sell at the current price.

Pending order:

• Buy Limit: used to buy at a price lower than the current price, with the expectation that the price will decrease a bit and then increase sharply.
• Sell ​​Limit: used to sell at a higher price than the current price, with the prediction that the price will increase a bit and then decrease.
• Buy Stop: used to buy at a price higher than the current price, with the prediction that the price will continue to increase.
• Sell ​​Stop: used to sell at a price lower than the current level, with the prediction that the price will drop sharply from the current position.

How to open the MT4 chart display

On your computer, you can open the chart directly on Market Watch, Standard toolbar, or select File on the main menu bar with the following steps:

• Step 1: Select File (on the menu bar) => Click on “New Chart”.
• Step 2: Select the currency pair/asset you want to see the chart for. If they are not available, click on Forex Major to see the full list.

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• Step 3: The price chart immediately appears in the Chart window. 

On your phone, you can view the chart by:

• Step 1: Click to select the asset/currency pair in the Quotes tab at the bottom of the screen. At this time, 3 options appear: Trade, Chart, and Details.
• Step 2: Click Chart, and the price chart will appear.

Instructions on how to open and close orders when using Metatrader 4

How to open a new order on MT4:

You can apply 1 of the following 4 ways to open an order on MetaTrader 4 :

Method 1: Click “New Order” => The order window appears.

Method 2: Right-click on the main chart area => Select Trading => Select the type of transaction you want.

Method 3: Press the F9 key => The order window appears.

Method 4: Start the 1-touch trading feature (One Click Trading) by going to Tools, selecting Options, selecting Trade, and then selecting One Click Trading. This feature helps you place orders with just 1 mouse click. Therefore, if you are not sure what you want, you should not use it.

How to close an order on MT4:

You can choose one of the following ways to close an order on MetaTrader 4 :

Method 1: In the “Trade” Tab, right-click on the order you want to close => Select Close Position. At this time, the order closing window appears, click the Close button at the bottom => Click OK to complete.

Method 2: Double-click on the order being traded in the Market Watch/Terminal window. Then, click Close to close the open order.

Method 3: Click the X at the end of the command line you want to close in the Terminal/Market Watch window.

How to draw trend lines on MT4?

Step 1: Select the / icon on the Toolbar.

Step 2: Hold down the left mouse button on the screen and drag the mouse to connect multiple peaks, we get a downtrend line. 

Step 3: Hold down the left mouse button and connect the bottoms, we get the uptrend line.

How often does MT4 platform failure happen?

MT4 is essentially software, so some technical problems cannot be avoided. Or the error arises because the trader forgot the password or was unclear during use.

Most technical or software system errors are very rare. Whether errors from the trader’s side are frequent or not depends on the trader’s level of understanding. However, they all have quick fixes, so you don’t need to worry.

What errors often occur in Metatrader 4?

The errors on Metatrader 4 that traders most often encounter are:

• Invalid account error: could be due to wrong password, wrong server selected, account not activated, account closed, old MT4 version.
• Error unable to connect to server: may be due to transmission line or network provider problems.
• Disabled transactions: may be due to the account not being verified, asset/currency pair disabled, or slow/unstable connection.

Instructions on how to handle MT4 errors

• Invalid account error: Check the password, server, or account status (verified, active, or closed), and upgrade the MT4 version if the version is old.
• Error losing connection to the server: Check your internet connection or reselect the connection server. Or try turning off anti-virus software and restarting MetaTrader 4.
• Disabled transaction error: Make sure the account has been verified, and check the email notification that the trading asset has been disabled. Or check your network connection.

How to log in to MT4?

How to log MT4 on your phone:

• Step 1: After downloading Metatrader 4, to log in to MetaTrader 4, click on “Settings” in the right corner of the screen => Click on “New account”.
• Step 2: Select “Log in with existing account” => Select the server and enter username and password.

How to log MT4 on a computer:

• Step 1: Click File => Select “Login to Trade Account”.
• Step 2: Enter information including Login (Login name), Password (Password), and Server (Server) => Click the “Login” button.

Note: 1 broker has many different servers. Therefore, you need to enter the correct server and ID to log in to MT4 successfully. If you forget, you can open the email to find the information again.

See more: Summary of new updates on forex trading platform

What information is needed to register for MT4?

To register to use Metatrader 4, you need to provide some basic information such as:

– Personal information such as nationality, full name, and date of birth.

– Contact information includes phone number and email address.

– Trading account information: Account name, Login password.

– Financial information: Net assets or annual income (depending on the broker).

– Verification documents: ID card, passport, utility bill.

How to register MT4 on a computer

To create an account on MT4, you need to choose a suitable forex exchange. Then, provide information to directly register an account there. After the account has been created, you will receive an email with login information including server name, login name, and password. At this point, you just need to download it to your computer, install it, and log in with the information in your email.

What should I do if I forget my login password?

• Step 1: Visit the broker’s homepage, then click “Log in”.
• Step 2: Select “Forgot password”.
• Step 3: Enter the email previously registered with the broker => Check “I’m not a robot” => Click “Continue”.
• Step 4: Enter the verification code and click OK (Depending on 1 or 2-step security).
• Step 5: Reset the new password. After that, log in with the new password.

Epilogue

Above is all the most basic information that Learn Forex Trading wants to share with you about MT4. Hopefully, with Metatrader 4 knowledge and Forex trading instructions on MT4, you can be more confident when using this software. Good luck!

FAQ

What is MT4?

MT4 is a popular software trading platform used to trade foreign exchange (forex) and other financial products. It is developed by MetaQuotes Software Corp.

How to use indicators and technical analysis tools on MT4?

You can access indicators and technical analysis tools through the “Navigator” and “Insert” windows on MT4.

Is MT4 available on mobile?

Yes, MT4 has mobile apps for both iOS and Android, helping you track and manage your trades from anywhere.