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. Inverse Transaction

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

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

    A financial instrument whose value is based on the value of another ...
  4. Fintech

    Fintech is a portmanteau of financial technology that describes ...
  5. Indicator

    Indicators are statistics used to measure current conditions ...
  6. Intraday Momentum Index (IMI)

    A technical indicator that combines aspects of candlestick analysis ...
  1. What assumptions are made when conducting a t-test?

    Learn what a t-test is, and discover the five standard assumptions that are made regarding the validity of sampling and data ...
  2. How do futures contracts roll over?

    Learn about why futures contracts are often rolled over into forward month contracts prior to expiration, and understand ...
  3. Why do companies enter into futures contracts?

    Learn how companies use futures contracts for the purposes of hedging their exposure to price fluctuations as well as for ...
  4. What does a futures contract cost?

    Learn about values of futures contracts and the initial margin a trader must place in an account to open a futures position, ...

You May Also Like

Related Tutorials
  1. Mutual Funds & ETFs

    Top ETFs And What They Track: A Tutorial

  2. Active Trading Fundamentals

    Introduction to Stock Trader Types

  3. Trading Strategies

    Guide to Pairs Trading

  4. Trading Systems & Software

    Beginner's Guide To J-Trader

  5. Trading Systems & Software

    Beginner's Guide To CQG Integrated Client Trading Platform

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!