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February 14, 2020
Learning how to use MetaTrader 4 is highly crucial for beginners, especially those who open a Forex account with this platform. Known as one of the most popular Forex trading platforms, MetaTrader 4 is widely used by a lot of brokerage companies.
Among the other trading platform, MetaTrader 4 (MT4) offers its users quick execution, user-friendly interface, and a selection of useful trading tools. For this reason, many traders decide to trade with a Forex broker that utilizes MT4 as its platform.
Even though MetaTrader 5 currently exists in the market, MetaTrader 4 still maintains its domination in the top list of the most favorable trading platforms for Forex trading. By using MetaTrader 4, a brokerage company doesn’t need to invest in platform development.
Instead, MetaQuotes, the platform’s developer, allows each brokerage company to brand MetaTrader 4. Then, how to use MetaTrader 4 for a successful trading transaction? At first, you will need to install your MT4 platform and learn the navigation features of the platform properly.
To start, you need to first install MetaTrader 4 into your gadget. Of course, you should already have a Forex account before installing MT4, but we would discuss it further later. You could typically download MT4 through your broker’s official site.
It is also possible to download MT4 from MetaQuote’s official website. This way, you could find a version that is suitable for your gadget and operating systems better. Don’t forget to download the MT4 installer based on your operating system like macOS, Windows, and Linux.
You could install the installer on your PC or other gadgets. You can simply follow the displayed instructions to finish the installation of MT4. Once the platform has been installed, you could start learning the navigation and interface. This time, you may start to wonder how to use MetaTrader 4.
First of all, remember that MetaTrader 4 could be separated into six different segments. You would be able to find toolbar, control ribbon, terminal window, navigator, market watch, and chart workspace on the MetaTrader 4 interface. You need to understand each of these MT4 segments.
After you are familiar with the interface and navigation of MT4, it would be great to deposit your funds and start trading. If you are not yet confident to trade live on MetaTrader 4, consider opening a demo account first to make yourself even more accustomed to the platform.
For your information, different brokers may have dissimilar rules when it comes to depositing the initial funds. Therefore, check with your brokerage company on how to deposit the funds or money so that it could be shown on the MT4 platform.
Moreover, how to use MetaTrader 4 to start trading in the Forex market? Considering the friendly interface and navigation of MT4, you could learn it by doing. You would typically see a list of currency pairs along with the price deals on the screen.
To open an order, for example, you just need to click on a currency pair available on the list. After that, select the ‘New Order’ to open an order for this particular currency pair. Make sure to examine your order details before executing anything.
What do you think about MetaTrader 4? It must be easy to trade with MT4, isn’t it? If you are interested in trading with MT4, SalmaMarket Forex broker could be a great place to open an account. As the best Forex broker, SalmaMarket offers an advanced MT4 platform for you.
In conclusion, there should be no problems if you trade Forex with MetaTrader 4. This is because the platform is super easy to understand and offers any necessary tools to win the market. That’s all everything you should know about how to use MetaTrader 4.
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