How to Open an MT4 (MetaTrader 4) Account for Beginners

MetaTrader 4 is a trading platform developed by MetaQuotes Software, launched in 2005 and has become one of the most widely used tools for trading in the financial markets. The platform is primarily designed for Forex and CFD trading, and is used by both individual (retail) traders and professional traders.

MetaTrader 4 is one of the most widely used trading platforms in the world. It is used to trade on financial markets, is free and is supported by most brokers (exchanges).

Open a real MT4 account

Open MT4 demo account

Overview of steps to open an MT4 (Metatrader 4) account

Opening a MetaTrader 4 account is done through a broker that provides the platform. Once registration is completed, traders will receive login details that allow them to connect to MetaTrader 4 on any supported device.

1. Choosing a Broker (Choose a reliable broker that supports the Metatrader 4 platform)

2. Fill out the registration form (Fill in the required information on the broker's website (name, contact information,...))

3. Identity Verification (KYC) (Upload documents required by the broker to verify identity (citizen ID, address))

4. Select account type (Decide whether you want to open a demo account or a real account)

5. Download Metatrader 4 (Download and install Metatrader 4 on the device of your choice (PC, mobile, tablet))

6. Login to the platform (Use your broker credentials and log in to Metatrader 4)

7. Deposit and trade (Deposit funds into your trading account if you are opening a real account)

Register with a reputable MT4 broker - the first step in opening an MT4 account

We recommend that you choose a reliable broker that offers trading via MetaTrader 4 (MT4), open an account with them and download MetaTrader for free from them.

How to register with MT4 trading platform (broker) as follows:

●       Visit the reputable MT4 broker website

●       Click the “Register” button and use gmail to complete the registration process (this registration is as simple as registering a facebook or instagram account)

●       Open gmail and verify account with MT4 broker

A Metatrader 4 broker is a financial institution that allows traders to access the Metatrader 4 platform, which provides real-time data, order entry, and technical infrastructure for online trading.

Brokers that support Metatrader 4 typically offer:

●       Trading Accounts and Logins for Metatrader 4

●       Access to multiple asset classes (forex, indices, commodities, cryptocurrencies, stocks via CFDs)

●       Transparent trading conditions (spreads, leverage, fees, execution types)

●       Supports key Metatrader 4 features (automated trading, conditional orders, etc.)

Traders around the world often prefer brokers that use Metatrader 4 because of its flexibility, wide range of assets, and reliable trading environment compared to some proprietary platforms.

You can choose a trading platform based on the factors we have summarized below or simply choose Exness - the world's leading reliable broker:

●       Regulation: License from National Bank or world regulator (Ensures deposit safety and fair conditions)

●       Spread and Fees: Need to consider the total amount of spread, commission or other costs (It affects the yield in the long run)

●       Execution type: ECN, STP, Market Maker, speed and transparency of execution (It affects price and speed of transaction)

●       Available instruments: Currency pairs, indices, stocks, commodities and more are offered (Possibility to diversify portfolio)

Steps to open a real MT4 account

To open a live MT4 account from a broker, do the following:

●       Log in to the website of the broker you just registered with, select the "Open new account" function on the "My Account" tab.

●       Then select MT4 from the menu on the top right of the screen (this menu is defaulted to MT5) and also select the type of account you want to open. If you are confused about which type of account you can choose Standard account.

●       The "Open Account" window will open and please fill in the following form:

●       Account Type - Select "Real";

●       Maximum leverage - leverage can range from 1:1 to 1:Unlimited;

●       Account currency - for accounts on the MetaTrader 4 platform, the account balance can be in US dollars, Euros

●       Account Name - MT4 trading account name

●       Create password for account - MT4 trading password

After completing the form, click the "Create an account" button.

Your new account will be opened instantly. Account parameters will be displayed on the same page within seconds and will be sent to your email address as soon as the account is opened.

Download Metatrader 4 platform and log in

Steps to download Metatrader 4 platform:

●       Open the email confirming the opening of the new trading account (just created in the step above)

●       Find and click on the MT4 platform download link

●       Open the downloaded and installed MT4 platform

●       On the top bar, click on the "File" item and select the "Login to trading account" option

●       Log in using the information in the email above

●       Once logged into your MT4 platform, right-click on the "Market Watch" box on the left side of the platform and select "Show All". That's it, you have all the available trading symbols, now just select your symbol and start trading.

Open MT4 demo account

To start the account opening process, visit the broker’s website and select the “Open a new account” option under “My Accounts”. Once the registration form opens, select MT4, Demo account type and enter the required information. After submission, you will receive your login details via email.

You can set your demo account balance in the settings section of the registration form. It is recommended that you keep this balance close to the amount you plan to invest.

MT4 demo accounts are completely free. Exness offers demo accounts with virtual money so you can practice trading and test your strategies before risking real money.

Demo accounts provide a safe and convenient environment to explore the platform’s features, including order placement, stop loss/take profit, and order management. They also offer the opportunity to experiment with charting tools, indicators, and drawing tools without risking real money. Furthermore, demo accounts allow traders to test their strategies on historical data, providing valuable insight into their performance. This makes demo accounts a great option for those who want to learn, practice, and hone their skills before entering the real markets.

MetaTrader 4 demo accounts do not use real money. They provide virtual funds for you to practice trading and test strategies without any financial risk. This allows you to test the platform and hone your skills before risking real capital in the live markets.

What assets can be traded with the Metatrader 4 platform?

Brokers offering Metatrader 4 provide access to a wide range of assets, often through CFDs (contracts for difference). This allows traders to speculate on price movements without owning the underlying asset.

Currency Pairs (Forex)

Forex trading is at the core of most platforms available through Metatrader 4. Traders have access to hundreds of currency pairs, including majors (e.g. EUR/USD, GBP/USD), minors, and exotics. Metatrader 4 offers fast execution speeds and comprehensive analytical tools for this market.

●       Major currency pairs: EUR/USD, USD/JPY, GBP/USD

●       Exotic currency pairs: USD/TRY, EUR/CZK

Stock index

Metatrader 4 allows you to trade indices as CFDs. This means you can speculate on the rise or fall in the value of major global indices without having to buy individual stocks.

●       Examples: DAX40, S&P 500, FTSE 100, Nasdaq 100

Goods

Commodities are mainly offered as CFDs – they allow traders to react to price movements of commodities such as precious metals, energy or agricultural products.

●       For example: gold (XAU/USD), oil (WTI, Brent), silver

Cryptocurrency

Some brokers offer cryptocurrency trading as CFDs in Metatrader 4. This allows you to speculate on the price of digital assets without owning the currency directly. Trading can be done almost 24 hours a day.

●       Examples: Bitcoin (BTC/USD), Ethereum (ETH/USD), Litecoin (LTC/USD)

Stocks as CFDs

Trading stocks using CFDs is popular due to its lower capital requirements and the ability to speculate on both rising and falling prices. Investors on Metatrader 4 can access global stocks without owning the shares.

●       For example: Apple, CEZ, Tesla, Microsoft