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

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
Related Articles
  1. Trading

    Applying The MACD Indicator With MetaTrader 4

    This guide shows how to use MetaTrader 4, a trading platform used for online trading in the forex, CFD and futures markets.
  2. Trading

    How To Place A Trade With MetaTrader 4

    Learn how to use the MetaTrader 4 platform to trade online.
  3. Trading

    An Overview Of The MetaTrader 4 Mobile App

    The MetaTrader 4 platform is available for a variety of operating systems including the popular iPhone and Android systems.
Frequently Asked Questions
  1. What is the history of the S&P 500?

    Discover the history of the S&P 500, which sophisticated market participants consider to be the best index to understand ...
  2. Did the repeal of the Glass-Steagall Act contribute to the 2008 financial crisis?

    Understand the argument that the repeal of the Glass-Steagall Act caused the 2008 financial crisis, and learn why the argument ...
  3. Why do MBS (mortgage-backed securities) still exist if they created so much trouble in 2008?

    Read several different arguments in favor of allowing the trade of mortgage-backed securities, even after the financial crisis ...
  4. How did the ABX index behave during the 2008 subprime mortgage crisis?

    Read about the disastrous performance of the various ABX indexes in the subprime mortgage crisis of 2008 during the middle ...
Trading Center