MT4 vs MT5: Which is best for traders?

Thousands of free and paid signals with various profitability and risk levels working on demo and real accounts are at your fingertips. Some Mac-based forex traders use popular Windows emulators like Boot Camp or CrossOver that are based on the open-source Wine emulator. But some traders complain about software crashes and lag issues when using such emulators. MT4 allows you to access all Forex quotes in real-time and execute trades simultaneously. You can also view additional details about a currency pair, including its spread, margin, contract size, and the number of buy and sell orders. You can set your own EAs and technical indicators to suit your trading goals and objectives.

  1. Right-click on the open position and select ‘Close #…’ to close manually.
  2. Enter the level you want the trade to end if you believe the market has moved against you.
  3. If you are interested in learning about algorithmic trading and automated high-frequency trading systems, check out our guide to high-frequency trading.
  4. With MT4, backtesting must be done locally or through a virtual private server (VPS).

Log in with the credentials you used to sign up with Blueberry Markets. Under MT5’s netting system, if you open a trade on the same market in the opposite direction, your initial trade will be closed, lowered in volume, or reversed. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. The information on this website is prepared without considering your objectives, financial situation or needs.

How to install indicators on 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. From within the terminal (Ctrl + T), go to the ‘alerts’ tab on the bottom left and right-click. Next, select ‘create’ and from this screen you’ll be able to create a price alert. To use our MT4 offering, you’ll first need to create a live account.

Add you into the mix, and you’ll receive an outstanding trading experience. You’ll get the opportunity to develop your skills broker liteforex and knowledge and have access to the best markets. Click Insert, next select indicators and choose from the drop-down menu.

The trader will also specify the order type, market execution, or pending order. Though the traders can open demo accounts through the terminal. All they have to do is select the demo server, provide the required details if there is already an existing account, or create one. It is worth noting that traders cannot open MetaTrader 4 live trading accounts from the platform directly. Instead, one should register with the broker of choice on the broker’s website.

On the rare chance you can’t find what you’re looking for ready to go on the market or on the forex forums, with a bit of work you’ll be able to code it up yourself. If that’s too much work or coding really isn’t your thing, you can also just pay to have someone code you what you need. Once you’ve launched the program and logged in with the credentials your broker sent you, you will be taken straight to the charting and trading suite. The default view isn’t ideal for traders on a laptop or with small screens, so if this is you, then a good place to start is closing every chart but EURUSD and maximising the EURUSD chart. The mobile version released in 2012 only added to the program’s popularity, making forex and CFD trading even more accessible. MT4 allows traders to execute trades quickly using one-touch transactions.


The platform offers a wide range of features, but notably has no direct customer service. Brokers provide access to MetaTrader 4, among other third-party trading platforms, as a trading platform. It is not by any means exclusive, although many brokers marketing material looks as though it is. Some brokers have no proprietary software and are reliant on third-party trading platforms, like MetaTrader, for their clients to connect to the markets.

Create an account

After creating an account, you can download MT4 to your chosen device. Once you have downloaded MT4, you can log in with your IG credentials. Below is a step-by-step guide on how to access and use MT4 with IG.

Choose Your Markets

Brokers like this are often referred to as “MetaTrader Brokers”. Given the way that MetaTrader 4 has a simple and user-friendly interface, it is suitable both for novice and experienced traders. Metaquotes developed MetaTrader 4 in 2005 as an advanced trading platform developed to offer retail traders comprehensive technical analysis options, tools and Expert Advisors (EAs).

Any broker that offers the MetaTrader 4 (MT4) trading software can be considered an MT4 broker. MetaTrader 4 and MetaTrader 5 (MT5) belong to a suite of trading platforms developed by MetaQuotes Software Corp. for mobile, web, and desktop computers. Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets.

An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. The signals market available on the MQL5 Community enables users to copy the live trades of approved signal providers. Also known as social copy trading, each signal provider charges a different subscription fee for access.

After you have set up and logged into your VT Markets account, use the header menu to find and download the MetaTrader4 platform. You can download MT4 for PC, Mac, smartphone or tablet device. After you have saved the application file and completed the setup — an almost automatic process on a mobile device or via an easy wizard feature on a laptop or desktop — you’ll be ready to start. Use your VT Markets login information to access your account on the MetaTrader 4 platform.

Monitor Your Position

It executes more trading volume than any other MetaTrader broker each month and offers the full MetaTrader suite alongside competitive pricing, add-on trading tools, and quality market research. While backtesting is used by traders, it is also used by the signal creators too. Some developers may optimize their strategies over a historical data set (i.e., run it multiple times over the past three months of EUR/USD tick data) on purpose, which can lead to curve-fitted results. Most EAs have a range of customizable parameters that let users specify the position size and risk/reward-related attributes, among other elements, that may be configured before automated trading is enabled.

Firstly, a central complaint about MT4 is that trades don’t execute as fast as they do on some other platforms. If you need high-frequency trading and can’t afford to waste time, you may need to look elsewhere. Within a few days of installing your MT4, you can start placing your trades. The indicators and other tools for technical analysis are easy to use.

Right-click within this window and select ‘create’ from the menu. This will bring up the ‘alert editor’ window where you can customise your price alert. Both CFDs and cryptocurrencies are complex leveraged instruments and carry a high level of risk. You should carefully consider whether you understand how these instruments work and whether you can afford to take the risk of losing your money. Margin trading involves a high level of risk and is not suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Blueberry Markets, and seek independent advice if necessary.

What is MetaTrader 4?

The width and positioning of some objects is adjusted by moving your mouse as you click on the chart, while others open a separate window for customization. Next, select ‘create’ and from this screen you will be able to create a price alert. The width and positioning of some objects is adjusted by moving your mouse as you click on the chart, while others open a separate window for customisation. The first is that it’s highly customisable to your individual trading needs and preferences. The second is that it can automate your trading by implementing algorithms that open and close positions according to pre-set parameters. MT4’s main competitor is MetaTrader 5, the newer version of the MT4 software from the same developer.

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