Personal Pro
Help

What is Meta Trader 4?

Developed by a company called MetaQuotes and first released 15 years ago, Meta Trader 4 is a platform used by financial traders for access and trades across a number of markets.

While Meta Trader 4 is often thought to be exclusively used for forex trading, the truth is that traders in commodities, CFDs, cryptocurrencies and indices use it too!

What are the benefits of Meta Trader 4?

Simple & Easy To Use

Learning how to use Meta Trader 4 is easy! Downloading the program and logging in is simple thanks to its specifically designed user-friendly platform.

Easily Accessible

Meta Trader 4 is available across devices, so whether you use a PC, Mac, iPhone or Android you’ll be able to access your trading platform whenever and wherever you need it.

Customisable

One of the significant factors contributing to its popularity is the ability to customise Meta Trader 4 to suit your trading needs, goals and preferences. The algorithms offer you choice and control over your trades.

Easy Trading

The supplied one-click trading function allows you to instantly pre-set buy and sell volumes and use intuitive drag and drop actions to change your order levels.

Automatic Trading

Meta Trader 4 offers users the ability to pre-set orders and automate their trading for an easy and worry-free forex trading experience.

How to use Meta Trader 4?

While the team at Global Prime are able to walk you through navigating your way around Meta Trader 4, this simple to use platform can also be accessed independently. We’ve summarised a handy guide below to how to access and use Meta Trader 4 with Global Prime (GP).

Step 1

Once you have created and signed into your Global Prime account (see the yellow box with Login at the top right corner of our website), you’ll be able to set up a Meta Trader 4 account.

Step 2

Follow the prompts and download Meta Trader 4 on to your computer, tablet or smartphone. If you need help with this step, get in touch with us today.

Once downloaded, log in to Meta Trader 4 with your GP login details.

Step 3

Once you’ve opened Meta Trader 4 and set up your account, have a click through the platform to familiarise yourself with the different options, menus and data.

Step 4

If you’re ready to open a position and begin trading, follow these instructions:

  • Click on Tools
  • Click on New order

You will then see a new order window and can open your position.

Pro Tip: On a computer, F9 is a handy shortcut for opening a new position/new order window.

Order Window Guide

There’s a lot to process on the order window so here’s a handy rundown of what you can see.

Symbol Drop Down Menu

Use this to select the market to trade in.

Stop Loss

This allows you to enter a stop level to execute a trade and close a losing position.

Volume

If you have a CFD account this allows you to determine the number of contracts to trade.

Take Profits

This allows you to enter a level to execute a trade and lock in profits on a winning position.

Type

This provides multiple options depending on how you want to trade:

  • Instant Execution - when you press buy or sell
  • Pending Order - when you want to buy or sell at a specific level (you will need to indicate type, price, and expiry before clicking Place to execute)

Comment

This allows you to leave a comment regarding one of your trades.

Note: all charts in Meta Trader 4 display the bid price of currency pairs.

How to Monitor Your Positions

To check (and close) your positions and pending orders simply follow these steps:

  • Click on the toolbar option: View
  • Click on Terminal
  • Click on the Trade tab

You can close or delete a position/pending order by clicking on the X in the right side of the page.

Pro Tip: On a computer, Ctrl + T is a handy shortcut for opening this window.

How to Change Stops & Limits

If you want to change the stops and limits on your open position follow the same steps as monitoring your positions above.

To make the change, right click on the position or order, click Modify or Delete Order. You can then change or modify as you see fit. Click Modify when you’re finished.

How to Change Chart Time Frames

If you want to change the time frame displayed on a chart you are viewing, follow these steps:

  • Right click on the chart and choose Timeframe
  • Choose your timeframe between a minute and months.

Pro Tip: You can use toolbar buttons to change the time frame as well!

Click on the Trade tab

How to Place a Price Alert

If you want to be notified when a currency reaches a specific price, follow these steps:

  • Open a terminal window and click on the alerts tab.
  • Right click and choose Create.
  • Use the alert editor to set your price alert.

How to access your Trade History

If you want to see the entire history of your trade, follow these steps:

  • Open a terminal window and click on the account history tab.
  • Right click to change the date range of trades displayed.

How to download Meta Trader 4 trade reports

If you want to access a downloadable custom trade report, follow these steps:

  • Open a terminal window and click on the account history tab.
  • Right click and select either Save as report or Save as detailed report.

Pro Tip: The detailed report includes more metrics and information.

Get Started with Meta Trader 4

Global Prime are the experts at how to use Meta Trader 4! Combined with our leading pricing and trade execution, Global Prime offers unparalleled experience with this globally popular trading platform.

If you want to find out more about what Meta Trader 4 is, how to use it, and how to get started, get in touch with us today!