What is MetaTrader 4?

MetaTrader is the world's most popular Forex trading platform for investors like you and me. In addition, it also supports trading in commodities, Contracts for Differences (CFDs) and futures.

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The MetaTrader 4 platform

The MetaTrader 4 platform comes in three different flavours:

  • MetaTrader 4 Terminal: this is the core version designed for desktops. It streams live market prices, allows you to enter orders, test, schedule and run automated trading scripts. The platform is comprehensive and available for download entirely free of charge.
  • MetaTrader 4 Mobile: this version is designed for iPhone, Android in addition to Windows Mobile powered smartphones and personal digital assistants (PDA). This version is available for download free of charge from the Apple and Android app stores. MT4 Mobile is a great way to keep an eye on the market when you’re on the move.
  • MetaTrader 4 MultiTerminal: manage multiple accounts simultaneously with MT4 MultiTerminal. This version will be of interest to portfolio managers who may want, for example, to run the same type of order across multiple accounts in proportion to the account balance. This version does not currently support automatic trading.

Forex brokers licence the MetaTrader 4 platform from MetaQuotes, the company behind MT4. They'll run it either alongside their in-house trading platform or as their only platform. Compare MetaTrader4 brokers for more information.

Key features of MT4

MT4 is both a trading platform and a charting package. MT4 comes with an extensive library of built-in indicators including Trends, Oscillators and Volumes. In addition, you can extend the platform with thousands of open-source indicators from the MT4 community available for free or on a commercial basis.

MT4 also supports automatic trading strategies, known as Expert Advisors. An Expert Advisor is a programme written in MetaTrader’s proprietary programming language. It can analyse charts and open, modify or close trading orders on your behalf when specific conditions are met.

MT4’s built-in programming language allows you to write your own custom indicators, Expert Advisors and scripts. The language is object-orientated, so you’ll feel at right at home if you’re familiar with Java, Visual Basic.NET (VB.NET) or C#. This is a powerful way to extend the platform in a way that works for you.

In addition, you can backtest trading strategies in minutes using historical data. MetaTrader’s optimisation features test thousands of combinations to find the most profitable settings for a given currency, period and date range. As always, it’s important to remember that historical performance may not be a guide to future performance.

Featured Brokers


MT5 Floating - Market Execution

Trade 70+ currency pairs, indices, energies and metals on floating spreads with market execution. ... More

  • $500 deposit
  • 1:200 leverage
  • 1.51 pips EUR/USD
  • Regulators: Bahamas, Cyprus (EU), South Africa, UK
Risk warning: 84.69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs and Spread Betting work and whether you can afford to take the high risk of losing your money.


Standard Account

Trade CFDs on thousands of markets across Forex, crypto-currencies, stocks, indices and commodities... More

  • $20 deposit
  • 1:100 leverage
  • pips EUR/USD
  • Regulators: Australia, Belarus, Cyprus (EU), Saint Vincent and the Grenadines, Seychelles, UK
Risk warning: CFD trading is a risky activity and can bring not only profit but also losses. The size of the potential loss is limited to the size of the deposit. Past profits do not guarantee future profits.


Standard Account

Trade 74 currency pairs and CFDs on stocks, oil, metals and crypto with leverage up to 1:500. 4XC ... More

  • $10 (MT4), $ 100 (MT5) deposit
  • 1:500 leverage
  • 1.4 pips EUR/USD
  • Regulators: Cook Islands
Risk warning: Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors as you could sustain losses in excess of your deposits. You should carefully consider your financial situation and experience level before trading.