How to Use MetaTrader 4: A Guide for Beginners

MetaTrader 4, also known as MT4, is the world’s most popular trading platform. It offers excellent trading and analytical tools to implement even the most complex strategies. At FBS, we provide our clients with the MT4 platform for the best trading experience.

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Here is a quick guide on how to install MT4, set it up, and open your first trade. Let’s go!

What is MetaTrader 4
MetaTrader 4 (MT4) is a trading platform developed by MetaQuotes Software Corp in 2005. Although MT4 was specifically built for Forex trading, it can also be used to trade other assets such as stocks, indices, and commodities via CFDs.

Both beginners and professional traders trust MT4 because of its numerous benefits.

Metatrader 4

Desktop
To install MetaTrader 4 for Windows:

Download the MT4 installation file.
Read and accept the License Agreement.
Follow the on-screen instructions to complete the installation.
Log in to your account.
Although MT4 is not designed for iMac, you can still download and install it to start trading.

Symbol: Select the instrument for which you want to open the position.
Volume: Select the trade volume in lots (when trading Forex, 1.00 lot is equal to 100 000 units of currency).
Stop Loss and Take Profit: Enter the level to execute a trade (once the instrument reaches this level, your trade will be closed automatically). This is optional.

How to Use MetaTrader 4

Comment: Leave a comment regarding your trade. This is optional.
Type: Choose Instant Execution if you want to place the trade immediately at the current price. Alternatively, select Pending Order if you want to place a trade when the price reaches a certain level.
Once you’ve done with the settings, open the order in the preferred direction. If you think the price will go up, click Buy. If you expect the price will go down, click Sell. Your trade is now successfully placed! mt4 signals

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How to monitor and modify your positions in MT4
To monitor your open positions and pending orders, open the Trade tab in the Terminal window at the bottom of the screen. All your trades will be listed here. metatrader 4 signals

How to Use MetaTrader 4: A Guide for Beginners