74.07% of retail investor accounts lose money when trading CFDs / Spread betting with this provider.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.07% of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
header_logo
rch
Client Portal
Open account
rch

What Is Metatrader 4 and How To Use It

MetaTrader 4 (MT4) is an electronic trading platform renowned in the retail trading space as one of the best.

Smart and simple, it makes your trading easier, no matter your experience level.

* Live price charts? Check.

* Place orders? Check.

* Manage your account? Check.

 

Plus much much more, read on for details.

Create demo account
Create live account

What Is MT4?

MT4 is an intuitive and straightforward online trading platform. It's used by traders to speculate on the price of major financial markets. These include forex, commodities, stocks, indices and even cryptocurrencies. That's just to name a few.

It became popular because users could create their own automatic trading strategies. And has since become one of the best platforms on the market for automating your trades. If efficiency is for you, then so is MT4.

It was originally developed by MetaQuotes in 2005 and is licensed to us so that you can trade with it. The software provides you with live prices and charts, the ability to place orders and to manage your accounts.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-image

 

MetaTrader 4 is one of the most popular trading platforms in the world, and millions use it.

 

 

How To Use Metatrader 4


The platform has a vast library of indicators; realistically, you won’t use them all, you probably won’t even use 10%. But they are there if you want them. They’re developed and shared by the global community who use MT4.

You can use MT4 to customise your charts, to trade a range of lot sizes, and to trade range of instruments.

You can also use it to develop and use your own automated trading strategies. Let it do the work for you.

Open an account

First things first, you need an account. It can be a demo or live, but you’ll need one to get started on MT4. Once you’ve created an account, you’ll receive your login details for MT4.

Download MT4 

Once your ATFX trading account is open, you’ll need to download MT4. You can use it on most devices; desktop or laptop, smartphone or tablet. After downloading MT4, simply log in with your ATFX credentials. 

You can download MT4 here

tradingplatforms-metatrader4-whatismt4-and-howtouseit-whereto-download-mt4-image

 

Choose Your Markets

Through your MT4 platform, you can trade a variety of markets; FX, equity indices, commodities and individual shares. You can also spread bet and trade CFDs.

To find the list of instruments, click ‘View’, then ‘Symbols’, or the short key is ‘Ctrl-U’. Here you’ll see a list of symbols that you can add to your market watch window. Then you simply drag the symbol to the chart, and you’ll be looking at the price chart you want.

 

Set Up Your Charts 

MT4 comes with a range of tools helping you to customise and personalise your trading charts. 

You can change the time frame here.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-timeframe-selection-image

 

You can draw objects on the chart. Here’s the list where you can find them.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-drawing-tools-image

 

You can format your charts so they’re easy on the eye; this can be colour or chart type.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-properties-image

 

You can have multiple charts open at once.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-multi-chart-image

 

 

Add indicators 

You can add indicators to your MT4 charts. Some popular indicators include MACD, moving averages, pivot points, the stochastic oscillator and Bollinger bands. 

To add to your charts, simply drag the trading-indicator from the navigator window and drop it on the chart. A pop-up window will appear where you can customise the indicators.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-trading-indicator-dragged-ontomt4-image

You can also add indicators using the menu bar. Click Insert, next select indicators and choose from the drop-down menu.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-trade-tab-image

To edit or remove an indicator, right-click within the chart window, then select ‘indicators list’. A new window displays a list of all your active indicators on the chart. Select from the list, click edit to customise the indicator settings, or delete. 

 

Set Up Alerts

Setting up a price-alert is simple. Open the Terminal window at the bottom of the screen by pressing CTRL+T on your keyboard and choosing the ‘Alerts’ tab.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-alert-tabs-image

Right-click inside this window, select ‘Create’ from the menu, the alert editor window is where you set your price alert.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-price-alert-image

Inside the price alert window, you can set a price movement alert for a market if price reaches a certain level or choose a specific time alert. You can select an ‘Expiry’ date which is the date the alert will terminate.

Fill out all the required information about the alert you want to set, click ‘OK’ and the alert is primed. Alerts you set up are listed in the alerts tab of the platform

Take trades  

To execute a trade, go to tools and click new order, the order window appears, you can also press F9 on your keyboard.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-execute-trade-image

Here’s a short guide to all the features within the order window, helping you to place and manage your trades.

Symbol. A drop-down menu allows you to select which market to trade. 

Stop loss. Enter the level you want the trade to end if you believe the market has moved against you.  

 

Take profit. If you want to lock in profits, enter your limit level here. 

 

Volume. The number of lots you would like to trade. 

 

Type. You can select ‘Market Execution’ to place your trade when you click buy or sell immediately. Or you can choose ‘Pending Order’ if you want to choose the level at which your order opens. 

 

Comment. You can leave a comment about your trading. 

 

Depending on whether you choose ‘Market Execution’ or ‘Pending Order’ will determine your next options.

 

Instant execution

This allows your trade to get filled at the best possible price. You’ll receive two simple options. Buy or sell. As it sounds, if you think the market will rise, you buy, if you believe it falls, you sell.  

 

Pending order 

tradingplatforms-metatrader4-whatismt4-and-howtouseit-pending-order-image

 

Type. Choose the type of trade to execute; limit the buy or sell price, set your take-profit limit or your stop-loss.   

 

At price. Select the price level you want your order to be filled. If the market doesn’t go to that price, your trade won‘t open.  

 

Expiry. You select this option to choose a date and time for your order to expire if the market does not reach your order parameters. For example, if you only want to take the trade that day, if not executed that day, then your order will be closed. 

 

Place. The big button to place your order in the market.

 

Manage trades (stop loss and limits) 

To monitor your trades and pending orders open the terminal window by clicking ‘View’ in the toolbar, then select ‘terminal’.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-monitor-trades-image

The trade tab is where you can find your positions and orders. You can close positions or delete pending orders by clicking the X on the right-hand side of the profit column.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-trade-tab-image

To modify stops, limits and pending orders, open the terminal window and find the trade tab. Then right-click on the position or pending-order you want to edit. Select ‘Modify or Delete Order’ which will open the order window.  

You then get options to modify or add stops and limits to your position. When complete, just click the red modify button to confirm your changes.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-modify-order-image

 

Your trading history 

Your trading history is found in the ‘Account History’ tab on the terminal window. Select your date range by right-clicking and choosing from options; all history, past three months, last month or custom period.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-account-history-image  
 

Downloading your trade reports 

Generating a trade report is done by opening the terminal window and selecting the account history tab. Right-click in the window, select save as detailed report or save as report.

tradingplatforms-metatrader4-whatismt4-and-howtouseit-trade-report-image

MT4 FAQs

Below you will find some of the most frequently asked questions regarding Metatrader 4 and how to use it.

Why Trade with MT4 and ATFX?

We offer MT4 because it’s one of the best trading platforms there is. It’s as easy as that. It helps that it’s also the most popular trading platform on the market. And rightly so, millions of traders use it and have done since it was first developed, it’s a world leader.

You can customise the functionality to match your preferences, trading methods and strategies. As you grow in confidence, experience and skill, you can start to explore more elements to help you benefit. 

When you use MT4 with ATFX, you don’t just get all MT4’s functionality, and you get a host of tools specific to ATFX. These are designed with you in mind and to improve your trading experience.

How to Setup Email Alerts on MT4

  • Open your MT4 trading platform and go to ‘Tools’, then ‘Options’. Or hit CTRL+O. Then click the ‘Email’ tab. 
  • Click the box ‘Enable’ and fill in your MT4 account details (server, login and password).
  • The “To” box is the email you’d like to receive the alert to.
  • The ‘From’ box is the email address is will send from. 
  • You have to restart the platform for the changes to be effective.  
  • Send a test MT4 Email Alert, once it arrives, you’re ready to go.  

MT4 and ATFX are a match made in heaven. Add you into the mix, and you’ll receive an outstanding trading experience. You’ll get the opportunity to develop your skills and knowledge and have access to the best markets. 

We offer several account options for you to use MT4. Use it in its most basic form or discover its full capability with its algorithmic coding.