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Are you a Windows user looking to start trading on the desktop version of the MetaTrader 4 (MT4) platform?
This article hopes to provide all the steps to start trading on MT4 on your Windows setup. As one of the most popular trading platforms on the tech frontier, with this guide, you'll be up and running with professionals in no time.
MT4 has soared in popularity thanks to its equally effective use on iOS, android and desktop applications. For the rising population of home traders, installing MT4 delivers an easy-to-use interface for even the newest traders.
Available for both Windows and Mac users, the platform can be downloaded directly from the MetaQuotes website or directly from your Client Portal with FP Markets. As illustrated in Figure 1, clients can select the ‘Downloads’ drop-down tab from the main menu on the left-hand side of the Portal and select ‘MT4 platform’ and subsequently choose ‘Download MT4 for Windows’.
Figure 1 (MT4 Download – FP Markets)
The next step involves reading and agreeing to the terms of the license agreement by clicking ‘Next’.
Figure 2 (MT4 Download – FP Markets)
The MT4 platform will then be downloaded on Windows and saved as a desktop icon. However, if you have not already, you must open (or add) a new demo or live account to proceed. For this demonstration, let’s assume you are adding a new MT4 demo account with FP Markets. Trading the markets can be difficult for a new trader, so to test the (sometimes) confusing waters of the financial markets, consider using a demo account to not only familiarise yourself with the trading platform’s main features but also to validate trading ideas (through backtesting and forward testing).
To open a new demo account, in your Client Portal, select ‘Add demo account’ under the drop-down tab ‘Accounts’ from the main menu. As shown in Figure 3, to add a new demo trading account, select which currency you wish to trade the account in, the account type—either a Raw or Standard Account—the Leverage ratio, and then set the Trading Account Password. Once the above fields are complete, select ‘Add Account’.
Figure 3 (MT4 New Demo Account – FP Markets)
Following this, you will receive an email with the login credentials (the same email used to register for the Client Portal). You can then use these login details to activate your MT4 trading platform and begin configuring the software to suit your preferences.
There is no one-size-fits-all approach to arranging your platform. Every trader is different and operates with different trading plans, strategies, risk appetite, goals, as well as other aspects.
Whether on a demo or live account, or whether you’re a new trader or a professional trader, there’s much customisation on offer with MT4, presenting a unique, personalised trading experience. While beyond the scope of this article to demonstrate the platform in detail, MT4 offers a variety of benefits, including a straightforward, easy-to-use interface, and a wide selection of technical analysis tools. Another widely talked about feature of MT4, of course, is the ability to code your own Expert Advisors (EAs) and technical indicators using the MQL4 programming language.
Although the MetaTrader 4 platform is widely used and remains the platform of choice for many short-term traders and longer-term investors, additional options are available, each providing its own unique features and benefits. Platforms such as MetaTrader 5 (MT5), which offers a wider selection of tradeable assets than MT4, the cTrader trading platform and Iress are all available with FP Markets on both demo and live accounts.
At the end of the day, It’s all a matter of personal preference. Regardless, MetaTrader has dominated the sector for some time and is certainly worth taking the time to explore what it can offer you.
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