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!
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.
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.
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.
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.
Meta Trader 4 offers users the ability to pre-set orders and automate their trading for an easy and worry-free forex trading experience.
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).
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.
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.
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.
If you’re ready to open a position and begin trading, follow these instructions:
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.
There’s a lot to process on the order window so here’s a handy rundown of what you can see.
Use this to select the market to trade in.
This allows you to enter a stop level to execute a trade and close a losing position.
If you have a CFD account this allows you to determine the number of contracts to trade.
This allows you to enter a level to execute a trade and lock in profits on a winning position.
This provides multiple options depending on how you want to trade:
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.
To check (and close) your positions and pending orders simply follow these steps:
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.
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.
If you want to change the time frame displayed on a chart you are viewing, follow these steps:
Pro Tip: You can use toolbar buttons to change the time frame as well!
Click on the Trade tab
If you want to be notified when a currency reaches a specific price, follow these steps:
If you want to see the entire history of your trade, follow these steps:
If you want to access a downloadable custom trade report, follow these steps:
Pro Tip: The detailed report includes more metrics and information.
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!
