MetaTrader 4 (MT4) boasts a long-standing presence and remains one of the more popular trading platforms for trading Forex and CFDs.
MT4’s user-friendly interface and wide-ranging features deliver a platform designed for technical analysis.
Although MT4 is configured to run on Microsoft Windows, Apple Mac users are able to download MetaTrader and tap into the benefits MT4 has to offer.
Trade Forex on a Mac – MT4 Broker Download
The most common method used to access the MT4 platform on a Mac is by downloading the custom application usually available through your broker.
- Download the MT4 Terminal from the broker of choice – the download should be a dmg file. Select to open it with your default program and click OK.
- The download will begin and Mac OS should verify the download. After the dmg file has successfully downloaded, open, and drag the app to your Applications folder.
- To start the application, you can open the Finder application on the dock and click Applications. Following this, locate and right-click the MT4 Application and choose Open.
- Launching the program for the first time can take a few minutes – be patient and understand it won’t take this long in future runs.
If you’re an Apple Mac user, the latest version of FP Markets’ custom-built application provides all the advantages of an MT4 trading account without the need to install additional operating systems. Our MT4 Apple Mac application offers Mac users all of the functionality when trading forex that is normally only available to Windows PC users – just by installing a simple application.
MT4 on Mac OS – PlayOnMac Download
MetaQuotes, the developer behind MT4’s platform, recommends using PlayOnMac to install and download MT4 on a Mac OS. PlayOnMac permits users to install and manage software intended to work on Microsoft Windows – graphical software built on top of Wine.
Wine is a compatibility layer allowing users to manage applications designed for Windows operating systems. Although often used on Linux, Wine can also run Windows on a Mac without the need for a Windows license. Wine, however, like much of free software available, has little assurance of stability. Its structure is based on an open-source application and is constantly in development.
You can download PlayOnMac software via its website. Once installed, select a version of Wine and download the Windows version of MT4 from the MetaQuotes website. Launching the exe file should bring up PlayOnMac, with the PlayOnMac wizard in place to guide you through the installation process.
MT4 WebTrader for Mac OS
If you prefer not to use a broker’s branded version of MT4 for Mac or install through PlayOnMac software, you can opt to use the MT4 WebTrader. It requires no downloads and runs via any Web browser on Mac. The only thing needed is a broker that supports it.
Your trading history is preserved just as with the desktop client, all the indicators for technical analysis are present as are all the order types, timeframes, and graphical objects for charts. Finally, the same secure data transfer that you expect from the desktop client is also built into MT4 WebTrader.
Alternatives to Running MT4’s Forex Trading Software From a Mac
A virtual machine, also known as a guest, is software that emulates the hardware necessary to run an operating system on top of another operating system. This allows you to run Windows on top of Mac OS. Parallels Desktop for Mac offers hardware virtualisation of the Intel platform, which permits Mac computers to run Microsoft Windows. VirtualBox and VMware Fusion are also popular alternatives.
A virtual private server (VPS) is a remote server you can connect with to run trading software. A VPS is particularly useful if you employ expert advisors (EAs) requiring continuous access to the broker. If you operate trading robots from your personal computer, the increased likelihood of an Internet outage may cost you missed trade entries or exits. Virtual private servers can be leveraged to allow access to MT4 from your Mac without installing it directly on your Mac.
MetaTrader 4 Vs. MetaTrader 5 (MT5)
MT4’s trading platform provides everything required to function as a Forex or CFD trader.
MT5 presents a multi-asset trading platform enabling access to not only the Forex and CFD market, but also futures, options, stocks, and bonds.
MT4 and MT5 are comparable in presentation, delivering simple, easy-to-use functions on both live and demo accounts. The platforms also allow users to modify the interface to suit personal preferences.
Since MT4 is generally used by Forex traders, many find MT5’s additional features unnecessary. Another notable point is MQL4 code cannot be transferred into MQL5 code.
MT4 provides trading tools to implement any trading strategy in the Forex market. With one-click trading, you can trade directly from the chart. MT4 also offers world-class analytical tools that the majority of Mac users desire.
Traders are recommended to experiment with a demo account prior to using a real trading account (live account), particularly if you’re unfamiliar with MT4’s functions.