Forex Tutorial With Elorm Adjanke (What is Metatrader? How to open a Demo or Real Account? Features of MT4)

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What is Metatrader? How to open a Demo or Real Account? Features of MT4

 

Dede Elorm
 

Metatrader is a kind of software that connects to the different trading platforms and allows to trade in them through a computer or smart phone. In other words, Metatrader is the link between the two. That is why this software is mostly used by Forex traders who have an opportunity to choose the broker with which they wish to trade, as long as it is compatible with the Forex platform.

In this way, and in case it is not compatible, Metatrader acts as a bridge that will allow you to trade with the broker of your choice within the same platform.

Metatrader today, has two versions: MT4 and MT5, which were created by MetaQuotes Software Corporation in 2005 (Metatrader 4) and 2010 (Metatrader 5). This company is of Russian origin and is a leader in the financial software market.

  • Why use Metatrader to trade?

The first thing you should know about Metatrader is that it is a free and lightweight software, which you can download directly from its official website and allow you to perform operations quickly, which is considered a great advantage when operating in volatile markets.

This platform allows you to configure stop loss, market, pending and trailing stop orders to maximize profits.

In addition, you can make use of the EA (Expert Advisors), who will trade for you automatically using the best investment strategies. Finally, it offers you a transaction history where you can see all the movements you have made previously and the positions you have opened to help you generate more effective strategies for your future transactions.

Metatrader is ideal for Forex traders who wish to take advantage of market fluctuations through speculation and opening up of opposite positions. With both versions you can trade bonds, stocks, indexes, metals, commodities or financial derivatives such as:

  • CFDs (Contracts for difference)
  • Futures
  • Options

What is Metatrader 4 about?

This first version uses a MetaQuotes language (MQL). This is a sequence of commands that is incorporated into the platform to implement specific exchange strategies, facilitate automatic trading and analyze information.

It has various functions such as:

  • Expert Advisors

The Expert Advisors are automated trading systems also known as commercial robots. These will analyze and make the negotiations in the system during a real-time event or a previously planned event. With the EAs you can create your own applications, use them, upload them to a code library or sell them in the Metatrader Market.

  • Custom Indicators

Custom Indicators are indicators that you can create on your own thanks to the MetaEditor embedded in the software, in addition to the 30 indicators that are already incorporated. With them you can analyze the commercial situations of the market and use them in your favor.

  • Scripts

Scripts or scripts are responsible for handling operations at the beginning of an event. However, it is important that you keep in mind that it does not allow any other simultaneous operation. In addition, these scripts will help you calculate possible risks, as well as manage operations, export and import data and create orders in closed markets.

  • Libraries

In them you can store the custom functions and blocks that you use frequently in your user program

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  • What is difference between mt4 and mt5?

Both provide pioneering automated trading systems with expert advisors. However, they each serve a very different function and, contrary to popular belief, MT5 is not an upgrade of MT4. MT4 was specifically built for forex traders, whereas MT5 was designed to provide traders with access to CFDs, stocks and futures.

  • Background

5 years later, MetaQuotes incorporated the Metatrader 5 (MT5) into the market. In 2018, the company saw a massive increase in the trading of shares and commodities, so they designed a new software capable of adjusting to that new market that was about to explode.

Its main objective was to offer new functions and improve some existing ones of the previous version (MT4). Among its main differences is the MetaQuotes language, where Metatrader 5 uses MQL5 and Metatrader 4 uses MQL4. Additionally, in MT5 an additional type of execution was added together with two types of pending orders, more advanced graphics and better analytical tools.

MT5 also has an integrated fundamental calendar, offers exclusive indicators and has a black box for programming, which makes them a much simpler experience.

  • METATRADER 4 DEMO Account: HOW to Open Demo Account in MetaTrader 4
  1. Download MT4 Platform and install it on your PC.
  2. Run the MetaTrader 4 Platform on your PC.
  3. Enter personal details. Click on “File” of the main menu. …
  4. Select trading servers. Select the appropriate demo server and press “Next”.
  5. Registration.
  • How do I open a MetaTrader account?

METATRADER 4 REAL Account: HOW to Open Real Account in MetaTrader 4.

To Open Real MT4 ACCOUNT, from your Profile in the Accounts tab choose Open a new account. Then, an Open account (Demo/Real) window will be opened, where you should fill out the form.

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You can also choose to register with A broker (ThinkMarket , Hotforex..),after registration ,you can open a demo or real account from the Broker Website and also download the MT4 or MT5 from the Broker Website .

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How do I log onto MetaTrader 4?

To log in to MetaTrader 4 with PC:

  1. Click “File” -> “Log In”
  2. Within the log in window, uncheck the box “Save Account Information”
  3. Confirm the correct server for your Live or Demo account -> select the server from the drop down menu
  4. Enter your account number in the Login box
  5. Enter your password
  6. Check the box “Save Account Information”
  7. Press Login
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How to log into MT4 with A phone

When opening the iPhone MT4 Mobile trading app for the first time, please select Login to Existing Account. Search for your broker as “ThinkMarket or Hotforex” and select the relevant server your account is hosted on. Finally, enter in your login number and password and you will be able to connect to your account.

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By Elorm Adjanke

Business Development Team leader

00233-0501471104

Elormadjanke@gmail.com

Elormadjanke@outlook.com

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