Beginner's Guide To MetaTrader 4: Installation
AAA
  1. Beginner's Guide To MetaTrader 4: Introduction
  2. Beginner's Guide To MetaTrader 4: Installation
  3. Beginner's Guide To MetaTrader 4: Basic Navigation
  4. Beginner's Guide To MetaTrader 4: Setting up a Trade
  5. Beginner's Guide To MetaTrader 4: Advanced Features
  6. Beginner's Guide To MetaTrader 4: Tips and Tricks
  7. Beginner's Guide To MetaTrader 4: Conclusion

Beginner's Guide To MetaTrader 4: Installation

By Jean Folger

The MetaTrader 4 program can be downloaded directly from MetaQuotes Software's dedicated MT4 web site (metatrader4.com) or through any of the large number of forex brokers that offer the program. Installation only takes a few minutes with a high-speed Internet connection. After clicking on "Download", a MetaTrader 4 Setup window will appear, as shown in Figure 1. Read the license agreement, and then click "Next" to begin the installation.

Figure 1: The MetaTrader 4 setup window appears after clicking "Download."


A new window, shown in Figure 2, will appear, giving the trader the option to accept the default installation folder or specify a different one. There are also options to create a desktop shortcut and to launch the program after successful installation. By default, these options are selected; simply click the box to uncheck the selection. Click "Next" to continue. (For related reading, see How To Become A Successful Forex Trader.)

Figure 2: Selecting an installation folder.


A new window will appear (Figure 3) that shows the installation progress. Once all the tasks have been completed, click "Next" to continue.

Figure 3: Installation progress.


Following successful installation, MT4 will launch with its default parameters, as illustrated in Figure 4. A pop-up window will appear, prompting the trader to open an account. Fill in the fields for name, country, state, city, zip code, address, phone and email. Select the account type, currency, desired leverage and hypothetical deposit from the drop-down menus. This account will automatically be a demo account – where traders can practice using the program without risking real money – unless the trader has opened and funded a trading account with a forex broker. "I agree to subscribe to your newsletters" must be selected in order for the "Next" button to appear. Click on "Next" to complete the process. Once the account has been successfully created, the data will automatically begin to update, and the price charts will come to life. (For related reading, see Top 4 Mistakes That Cause Futures Traders To Fail.)

Figure 4: After successful installation, the MT4 program will launch and prompt the user to open an account. The "I agree to subscribe to your newsletter" box (here, in the yellow ellipse) must be checked to complete the installation.
Beginner's Guide To MetaTrader 4: Basic Navigation

  1. Beginner's Guide To MetaTrader 4: Introduction
  2. Beginner's Guide To MetaTrader 4: Installation
  3. Beginner's Guide To MetaTrader 4: Basic Navigation
  4. Beginner's Guide To MetaTrader 4: Setting up a Trade
  5. Beginner's Guide To MetaTrader 4: Advanced Features
  6. Beginner's Guide To MetaTrader 4: Tips and Tricks
  7. Beginner's Guide To MetaTrader 4: Conclusion
RELATED TERMS
  1. Implied Volatility - IV

    The estimated volatility of a security's price.
  2. Plain Vanilla

    The most basic or standard version of a financial instrument, ...
  3. Derivative

    A security with a price that is dependent upon or derived from ...
  4. Inverse Transaction

    A transaction that can cancel out a forward contract that has ...
  5. Best To Deliver

    The security that is delivered by the short position holder in ...
  6. Exchange Traded Derivative

    A financial instrument whose value is based on the value of another ...
RELATED FAQS
  1. Tame Panic Selling with the Exhausted Selling Model

    The exhausted selling model is a pricing strategy used to identify and trade based off of the price floor of a security. ... Read Full Answer >>
  2. Point and Figure Charting Using Count Analysis

    Count analysis is a means of interpreting point and figure charts to measure vertical price movements. Technical analysts ... Read Full Answer >>
  3. What assumptions are made when conducting a t-test?

    The common assumptions made when doing a t-test include those regarding the scale of measurement, random sampling, normality ... Read Full Answer >>
  4. How do futures contracts roll over?

    Traders roll over futures contracts to switch from the front month contract that is close to expiration to another contract ... Read Full Answer >>
  5. Why do companies enter into futures contracts?

    Different types of companies may enter into futures contracts for different purposes. The most common reason is to hedge ... Read Full Answer >>
  6. What does a futures contract cost?

    The value of a futures contract is derived from the cash value of the underlying asset. While a futures contract may have ... Read Full Answer >>

You May Also Like

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!