MetaTrader 4 Demo and Live Account Setup Guide
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Getting Started with MetaTrader 4: A Step-by-Step Guide
[Image: MetaTrader 4 Logo]
For traders looking to dive into the world of Forex trading, MetaTrader 4 (MT4) is one of the most popular and widely-used trading platforms available. With its extensive range of trading tools and indicators, MT4 provides traders with a comprehensive platform to execute trades and analyze markets. In this article, we will walk you through the process of opening a MetaTrader 4 demo account and live account, providing you with a solid foundation to start your trading journey.
Choosing an MT4 Broker
Before you can start trading on MT4, you need to choose a broker that offers access to the platform. With numerous brokers out there, selecting the right one can be a daunting task. To make an informed decision, take the time to research different options and find the one that best suits your trading goals. If you’re unsure of what to look for, check out our article on “How to Find the Top CFD & Forex Brokers.”
At Admiral Markets, we offer clients the ability to trade with MetaTrader 4, MetaTrader 5, and the MetaTrader WebTrader. To get started, head over to our MetaTrader 4 download page, where you can download MT4 on both Mac and Windows operating systems. Once you fill in your details and start your download, you will be redirected to a page with instructions guiding you through the installation process.
Opening an MT4 Demo Account
[Image: MetaTrader 4 Demo Account Screenshot]
A demo trading account allows traders to trade in realistic market conditions using virtual currency. A MetaTrader 4 demo account is an excellent place for beginner traders to start practicing on the trading platform without risking their capital on the live markets. Experienced traders can also use a demo account to test and perfect new strategies in a risk-free environment.
To open an MT4 demo account with Admiral Markets, traders need to register and then log in to the Dashboard. In the Dashboard, under the Accounts section, click on “Demo” and then “Open Demo Account.”
[Image: Admiral Markets Dashboard Screenshot]
On the following page, you will be able to select the type of demo account you want to open. At Admiral Markets, we offer two types of MT4 accounts: Trade.MT4 and Zero.MT4. You can open demo versions of both accounts. Once you have picked the type of MT4 demo account you wish to open, click “Create Demo Account,” and you will be presented with your login details.
Creating an MT4 Live Account
[Image: MetaTrader 4 Live Account Screenshot]
The process for opening an MT4 live account has a few more steps and is not instant. Your application will need to be reviewed and approved by the team at Admiral Markets before you will be provided with your MT4 login details.
Once you have registered with Admiral Markets, log in to the Dashboard and click “Open Live Account.” Over the following pages, you will be asked to provide information, including:
- Personal details, such as your name and date of birth
- Residential address
- Tax ID number
Once this information has been provided, you will need to read and accept the confirmation notice, before uploading supporting documents to verify your identity. From here, Admiral Markets will review your application, after which you will be contacted by email with the results of your application. If approved, you will be able to open a live MetaTrader 4 account in the Dashboard.
Logging in to MT4
[Image: MetaTrader 4 Login Screen]
Once you have successfully created a MetaTrader 4 demo account or live account, you can use your login details to access the trading platform. To log in, you will need your account ID, password, and the name of the account server. Select “Login to Trade Account” from the File menu and enter your login details into the subsequent window.
[Image: Admiral Markets MetaTrader 4 – GBPUSD H1 Chart]
On the left-hand side of the screen, you will find a range of available instruments in the Market Watch window. To open a price chart, right-click on your instrument of choice and select “Chart Window.” If you can’t find your desired trading instrument, right-click in the Market Watch window and click “Symbols.” This will open a pop-up box that will allow you to browse through all the available instruments. Click “Show” to add a symbol to the Market Watch.
Starting to Trade
[Image: MetaTrader 4 New Order Window]
Once you have opened a price chart of the asset you wish to trade, click “New Order” at the top of the screen to open a new order window. Here, traders can amend the trade volume, set a stop-loss and a take-profit, and select the type of trade desired before selecting “Sell by Market” or “Buy by Market” to open their position.
Frequently Asked Questions
- What is an MT4 account? An MT4 account, or MetaTrader 4 account, is an account that allows traders to trade on the MetaTrader 4 trading platform.
- Is an MT4 demo account free? Yes, it is free for clients of Admiral Markets to open a MetaTrader 4 demo account.
- How long does a MetaTrader 4 demo account last? With Admiral Markets, your MT4 demo account will expire 30 days after registration, unless you open a live account. If you open a live account, you must log in at least once every 30 days to keep your MetaTrader 4 demo account active.
- How to delete a MetaTrader 4 account? To delete an MT4 demo account with Admiral Markets, locate the account in your Dashboard, click on the button with three dots, and select “Close account.” You will be asked to confirm the account closure before the account is deleted.
Conclusion
In conclusion, opening a MetaTrader 4 demo account and live account is a straightforward process that can be completed in a few simple steps. By following the guidelines outlined in this article, you can start trading on one of the most popular and widely-used trading platforms available. Remember to always trade responsibly and seek advice from a financial advisor before making any investment decisions.
[Image: Admiral Markets Logo]
Ready to start trading with Admiral Markets? Click the banner below to find out more about our Trade.MT4 account and start trading Contracts for Difference (CFDs) on a range of Forex pairs, commodities, and stocks.
Join the conversation
We hope you found this article helpful in getting started with MetaTrader 4. If you have any questions or comments, please don’t hesitate to reach out to us. Share your experiences with MT4 in the comments below, and don’t forget to like and share this article with your fellow traders. Happy trading!
