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MetaTrader 4 (MT4) Review: What is it? How to use MT4 for trading?

mt4 review

To attract clients, many brokers and financial service providers have their own trading platforms. MT4 is the most successful platform in that it integrates into all major platforms. It’s often viewed as a problem if a trading platform doesn’t offer MT4 or MT5. Innovation has occurred as shown by the development of MT4 and Bitcoin, the introduction of bots, and the implementation of auto trading. Today we will be focusing on the MT4 platform, and all that it has to offer. We will also highlight the differences between MT4 & MT5.

What is MT4 trading?

MetaTrader 4 is known by the abbreviation MT4. It is one of the most widely used Forex trading platforms in today’s trading market. All the information traders need to trade Forex is available online. This section is for the MT4 Forex trading platform.

It allows you to analyze the financial market from any device and at any time. It’s simple to use and many traders and brokers include it in their trading strategies.

MT4 can be used by all levels of traders, and even beginners can adapt it to suit their trading style.

Try out a legendary broker with MT4

How to use and trade on MT4

These steps will help you use the MT4 automated trading system if you love MT4.

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  • Add MT4 to the platform

You wouldn’t be able use MT4 if you didn’t have it installed on your platforms. So all you need is to download it or create an MT4 account at Admiral Markets.

  • You can adapt the graphic to suit your style

It is possible that you don’t like the charts you see when you open MT4. Right-clicking on a chart will bring up the property function. This allows you to customize the interface to your liking.

  • Move the chart:

Click and hold the mouse. Click on the icon at top of page to cancel scrolling. The plus and minus symbols allow you to zoom in or out of your graph.

  • Select the time unit you prefer:
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Click on the clock icon to choose the time unit.

  • Assets available

Right click on the assets you wish to see and right click to open your broker’s portfolio. You can click on what you want and hide the rest.

  • Trade:

Right click and then press trade to create a new order. You will be able to set up your order, and choose the purchase conditions. You can choose to buy at market or sell at market. You must agree to the terms and conditions of your purchase.

How do I get MT4?

This question is often asked: How do I download MT4 to Windows? These are the two ways to easily get MT4 on Windows.

1. It is available for download

This method doesn’t require much. All you need is a computer or a mobile device like a smartphone.

2. It can be obtained through a broker

Many brokers have integrated MT4 into their platforms, as it is a well-known platform. All you need to do is:

  • Locate an MT4 broker. This is the specific way to find the best broker who uses the MT4 platform.
  • Be careful not to land on a site that is a scam.
  • Click on the top menu and select Platforms. MetaTrader 4 will be the first of the trading platforms.
  • Click on Open an Account, complete the registration form, and then click on Validate your account.

After you’ve completed these steps, you won’t need to download MT4 anymore. The account you have already opened uses the MT4 platform.

Try out a legendary broker with MT4

How do I download MT4?

You can free download MT4 for your trading device. Here’s how it works.

  • Use the term to search for the MT4 website
  • You can set the language for the site to suit your preference. Click on the language icon in the top right corner of the site page to do this.
  • Depending on the screen, you will see several options when you press “Download”. You can also download MetaTrader 4 for Windows if you’re using a computer. You can choose between Linux and macOS. Download the App Store for iPhones and iPads. Download the App Store for Android tablets and smartphones.
  • After downloading, click “Install” to proceed with installation.

Trading MT4: The Different Types of Orders

Orders are instructions that you give your broker. They can be placed from your MT4 platform. Your broker will receive them quickly and directly.

MT4 offers 8 different types of orders, divided into 3 distinct categories.

  • 2 Market Orders
  • 4 pending orders
  • 2 Stop orders

1. Market Orders

These classic orders are either buy or sell orders. Market orders are executed instantly, i.e. Market orders are executed immediately, i.e. at the moment that the order is placed. Purchases are at the bid price and sales at the offer price.

2. Pending Orders

Contrary to market orders and pending orders, they are typically made once the asset’s price reaches the target rate and meets the conditions established by the trader. The broker executes the order once the target rate of the trader has been reached.

3. Stop placing orders

These orders are established by thresholds the trader doesn’t want to exceed. This is called the principle of “take profits” and “stop losses”. These thresholds are met and the order is immediately triggered.

These orders can be used to maximize profits and minimize losses. But, unlike the other two types of orders, stop orders need to be accompanied with market orders or pending order.

Which broker should I use for MT4?

Before we get into the details, it’s important to identify which MT4 broker you should choose. This is an important step because most traders use the services a broker to protect their investments.

1. Criteria to Select a Broker

You can’t just pick a broker randomly. There are criteria that must be met.

  • Security of the broker: You need to ensure that your broker provides the security you require for not only your trading account, but also your funds.
  • Regulation: It is easier to trust a broker who is regulated and overseen by a regulatory authority. This will increase the broker’s reliability.
  • You can see the experience and credentials of your broker as well as customer reviews. This will help you understand where your broker stands in relation to how it is perceived by the market.
  • You should be satisfied with the offers, services, and fees of your broker.
  • System and platform: The broker should offer other platforms and systems to its clients, in addition the MT4 platform. These platforms can optimize trading and provide more freedom and choice on trading tools.
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2. Here’s an example of a great MT4 broker that you should look into

As an example, we have used Admiral Markets broker.

This broker has been in the market for over 20 years and is one of the most respected brokers on the trading marketplace.

Admiral Markets is regulated and supervised by various authorities including ASIC, FCA, and EFSA. Visit the broker’s website to see that the broker is open to working with professionals in the financial markets in terms of liquidity partners.

Admiral Markets offers its clients some of the most powerful trading platforms available on the market, including MT4 or MT5 platforms.

Open an Admiral Markets Account

Market Analysis using MT4

Forex trading can be a complex market. Therefore, traders need to conduct technical and fundamental analysis prior to making a decision. MT4 offers its clients advanced technology-based analysis tools to facilitate their research. This is why MT4 is so popular in today’s market.

Technical Analysis using MT4

Technical analysis in Forex is used to predict the future evolution of currency rates, forecast market movements, trends, such as entry and exit, and to set stop loss and take-profit levels.

MT4 employs several technical analysis tools, including:

  • 30 indicators integrated
  • More than 2,000 personal indicators are free
  • More than 700 indicators paid
  • 24 analysis objects
  • 9 periods,
  • Unlimitable number of charts.

These analysis tools may not be enough for you. MT4 is an option:

  • Download other indicators free of charge from the basic code service
  • Write your own indicator
  • Buy other Market applications

MT4 allows you to adapt technical analysis tools to your specific needs.

Fundamental Analysis on MetaTrader 4

Traders use fundamental analysis to determine the factors that could affect the asset’s price. Forex trading is highly dynamic and sensitive. The problem is that traders may overlook important news and miss lucrative investments.

MT4 provides clients with fundamental analysis tools that allow them to track the Forex market’s evolution and take advantage of opportunities. Alerts and news are two of these tools.

  • Alerts

These alerts are a type of notification that MT4 sends to you when there are significant market events. This is a benefit because you can set the conditions for your alert. MT4 can send you an alert if the bid price exceeds a threshold.

MT4 can send you email alerts or sound signals to warn you about important changes. You can also create alerts that will be sent to your phone via SMS or notification.

  • The latest news

These are the main news items that could impact the Forex market, such as economic instability in any country which can affect the currency’s price. All the information you need to influence Forex trading can be found here. This information is particularly useful for traders who are always on the move and want to track the development of their assets in real-time.

How do you use a robot on MT4

Many traders use trading robots to automatically place orders without having to be glued to their computers. These robots are also called Expert Advisors.

MT4 offers trading robots, just like other platforms on the market. There are many robots available on MAT4 as there are thousands.

Here’s how to get an MT4 robotic arm.

  • Your trading robot can be downloaded or bought for free.
  • Log in to your MT4 Platform.
  • Click on market.
  • Select the tool that you wish to purchase (in this instance, the robot).
  • Choose the robot that you would like to use and describe it (paid or free).
  • Use the payment options available on MT4 if it’s paid. Use the demo mode for free if it’s paid.
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Once you have MT4, here’s how to use it

  • Continue to download and install the file by pressing “Install”.
  • Enter your code or password to activate it.
  • After activation, you will receive a confirmation email. A window will then open on your platform.
  • Your conditions and risk level will determine how you configure your robot.
  • The robot will take care of the rest.


Set up automatic trades using MT4

MetaTrader 4: Why? MetaTrader 4: Advantages and Drawbacks of MT4 Trading

MT4 is a very popular platform in the market. There are still some advantages and disadvantages to the MT4 trading platform.

Pros Cons
  • Platform free
  • It’s simple and straightforward to use.
  • This product is suitable for all trade types.
  • Many analysis tools are available.
  • Automated trading robots are present.
  • Free demo account on MT4.
  • Existence of copy trading function
  • Available 24 hours a days, 7 days per week
  • Available on mobile and desktop devices.


  • Forex only
  • It offers fewer features than MT5.

MT4 Trading: What assets can I purchase?

Forex trading is possible on the MT4 platform. Forex assets can be purchased.

Forex is where currency pairs can be traded. This market is complex and has rates that change constantly. It is also the most liquid market worldwide, with trading hours that are open 24 hours per day. This makes it very active.

You can trade most major currency pairs with MT4, including EUR/USD and GBP/USD. These are just a few of the many currency pairs you can trade with MT4, as well as other currencies such exotic or minor currencies (also known cross currencies).

You may not be able trade currency pairs not included in the broker’s portfolio because it is the MT4 brokerage that gives you access to the market. It is also possible to purchase bitcoins on it.

Four Tips for MetaTrader 4 Brokers Before Trading

MT4 is a popular platform on the market so it’s not surprising that there are many brokers who use it. Here are four tips to help you choose the right MT4 broker before you start trading.

1. Know your broker

A broker offering MT4 does not necessarily mean that you will open an account there. Do your research on who your broker is, his market experience, and whether he is reliable and trustworthy.

Forex trading can be extremely stressful. It is very risky. Knowing a bit about your broker will help you to know what to expect. This will also reduce stress and any questions that may arise.

Research everything you can about your broker, including security, regulations and partners. Although it may seem overwhelming, knowing as much information about your broker as possible can be very helpful.

2. Learn more about our rates

This is crucial because broker rates may not be within your budget after you have completed all of the steps to open an accounts.

Although the minimum deposit requirements of a broker may be within your budget, it is possible that broker prices are higher than yours when you trade.

We advise you to research the prices and not go for it if they are beyond your means. If so, leave it alone and don’t risk losing anything.

3. Try the Platform

We recommend that you test the platform if you are a fan of the broker and have opened an account.

Although you might not consider yourself a professional, testing is always recommended. There will be no unpleasant surprises, and you will have a good understanding of the platform before you begin trading. This will make it easier to set up the MT4 trading platform.

This is also a great way to get to know the broker and the MT4 platform. It would allow you to try all features of MT4 together with your broker. You will find some of these features very helpful, particularly when you trade CFDs.

4. Do your research

You should do more research about brokers and how MT4 operates. You can only learn which platform you love by conducting research and testing out different brokers with demo accounts. You can also learn from customer reviews or watch youtube videos to help you make your decision.

Try out MT4 on a trusted broker

Conclusion: Which MT4 broker should you choose?

You now know what MT4 means and are ready to trade on this platform. If you answered YES, then our final piece of advice is to find the best MT4 broker in order to avoid unnecessary losses. While all brokers offer the MT4 platform to their clients, not all MT4 brokers can be trusted.

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