MetaTrader 4 also known as MT4 is a popular trading platform for forex and other financial markets and it is being used by millions of market participants worldwide. The web version of the MT4 software has become the standard trading platform for all. But not every trader would have the luxury of being able to sit in front of a computer screen. extended hours. But something that each of us can always carry around is a smartphone. The advanced capabilities of smartphones has made mobile trading pretty popular as it adds more ease and convenience to the tedious trading process. With the advancement of technology, MT4 developers also introduced an app version of MT4 which makes it easier for traders to access their accounts from anywhere and at any time using their mobile devices. Click on the below mentioned website, if you’re looking for additional information on profit calculator forex.
In this article, we will discuss how to download and use the MetaTrader 4 app for Android and iOS for a seamless trading experience. You will also learn about MT4 account management, adding and removing instruments for trading, steps for placing trades, chart configuration, using the journal feature and checking the latest market news on the MT4 app. Read More
Steps to Download the MT4 App
Before using the MT4 app, you need to download it from the respective app stores for Android and iOS. To download the app, go to the Google Play Store or Apple App Store, search for “MetaTrader 4,” and click the “Install” button. The app is free to download, but you need to have an active account with a broker that offers MT4. The app will get installed to your phone within minutes. Once you have downloaded and installed the app, open it, and you will be prompted to log in. You can either use your existing MT4 account credentials or create a new account through the app. Are you hunting about forex margin calculator? Look at the before talked about website.
Account Management:
After logging in, you will be taken to the account management section of the app. Here, you can view your account details, including your account balance, equity, margin, and free margin. You can also view your trading history, open positions, and pending orders.
To add a new account, click the “+” button at the top right corner of the screen, and you will be prompted to enter your account credentials. Once you have entered your credentials, click “Next” and follow the on-screen instructions to complete the account setup process.To switch between accounts, click the account number at the top of the screen and select the account you want to switch to. The app also allows you to modify your account settings, such as password, email address, and personal details.
How to Add and Remove Instruments on an MT4 App?
One of the key features of the MT4 app is the ability to trade a wide range of financial instruments, including currencies, commodities, and stocks. To add an instrument to your watchlist, click the “+” button at the top right corner of the screen and select the instrument you want to add. Once you have added an instrument to your watchlist, you can view its price chart, place orders, and set price alerts. To view the price chart of an instrument, tap on its name in the watchlist, and the chart will be displayed. You can customise the chart by adding indicators, changing the time frame, and selecting different chart types. To remove an instrument from your watchlist, swipe left on its name and select “Delete.” You can also reorder your watchlist by dragging and dropping the instruments.
Steps for Placing Trades on MT4 App
The MetaTrader 4 app for Android and iOS allows traders to place trades directly from their mobile devices. To place a trade, follow these simple steps:
- Log in to your trading account using the MetaTrader 4 app.
- Click on the ‘Trade’ tab located on the lower side of the screen
- Select the financial instrument you wish to trade by typing its name into the search bar or selecting it from the list of available instruments.
- Click on the ‘New Order’ button.
- Choose the type of order you want to place, such as ‘Buy’ or ‘Sell’.
- Enter the volume or size of the trade you wish to place.
- Set automated exit prices ( stop loss and take profit)
- Confirm the trade by clicking the ‘Place’ button.
The MetaTrader 4 app for Android and iOS also allows traders to configure charts to monitor the markets and analyse price movements.
Here’s how to configure charts on the MetaTrader 4 app:
- Click on the ‘Chart’ tab at the bottom of the screen.
- Choose the financial instrument you wish to analyse.
- Then click the settings button and specify details for customising the charts.
- Select the time frame you wish to use, such as 1-minute, 5-minute, or 1-hour.
- Choose the type of chart you want to display, such as candlestick or line chart.
- Customize the chart by adding indicators or drawing tools if desired.
- Save the chart settings by clicking on the ‘Save’ button.
How to Use the Journal Feature on MT4 App?
The journal is a feature on the MetaTrader 4 app that allows traders to keep track of their trading activity. Here’s how to use the journal on the MetaTrader 4 app:
- Click on the ‘Journal’ tab at the bottom of the screen.
- The journal will display a list of your trading activity, including orders, trades, and account history.
- Use the search bar to filter your trading activity by date, symbol, or type of activity.
- Click on a specific order or trade to view more details about it, such as the entry and exit price, stop loss, and take profit levels.
- Use the journal to keep track of your trading performance and identify areas where you can improve.
How to Check News on MT4 App?
The MetaTrader 4 app for Android and iOS also provides traders with access to financial news and events that may impact the markets.
Here’s how to access news on the MetaTrader 4 app:
- Go to the bottom of the screen and click on the news tab.
- The news section will display a list of the latest financial news and events.
- Use the search bar to filter news by keyword or category.
- Click on a specific news article to read more about it.
- Use the news section to stay up-to-date with the latest developments in the financial markets and make informed trading decisions.
Conclusion
To sum it up, the mobile app version of MetaTrader 4 is a versatile and powerful tool for all types of traders who struggle to sit down and trade on a computer due to time constraints or other issues. With its intuitive interface, essential features, and advanced analysis tools, traders can stay up to date with the latest market trends and make informed decisions. By following steps outlined in this article, traders can get the most out of their MetaTrader 4 app and take their trading to the next level. Whether you are a beginner or an experienced trader, the MT4 app can be a valuable tool that helps you to track your trading progress from anywhere and at any time.
