Metatrader 4 FAQs
- How do I download MetaTrader 4?
- How do I open a MetaTrader 4 demo?
- What are the system requirements for MetaTrader 4?
- Can I download MetaTrader 4 on Mac?
- Am I able to access my MetaTrader account using the FOREX.com mobile app?
- Can I place trades on the MetaTrader platform from the FOREX.com mobile app?
- Can I log into the FOREX.com platforms with my Meta Trader account?
- Does MetaTrader 4 adhere to the First in First Out (FIFO) rule?
- What trade execution modes are supported on MetaTrader 4?
- What order types are available on MetaTrader 4?
- How do I trade over the phone with my MetaTrader 4 account?
- How do I access my MetaTrader 4 account reports?
- How do I set up rate alerts in MetaTrader 4?
- What are Expert Advisors?
- How do I qualify for free EA Hosting at FOREX.com?
- How do I download the MetaTrader 4 app on my mobile device?
- Can I manage my account on MT4 Mobile?
- How do I set-up an Investor Password for my MetaTrader 4 account?
- How do I find my FOREX.com MetaTrader 4 server name?
- Why do the prices I see in the Market Watch window differ from prices on the chart for the same product?
How do I download MetaTrader 4?
Follow our Download Center link to download the FOREX.com MetaTrader 4 platform.
Please remove any previous versions of the MetaTrader software from your PC prior to installation in order to ensure proper function of the platform.
How do I open a MetaTrader 4 demo?
Follow the link to open a MetaTrader 4 demo.
What are the system requirements for MetaTrader 4?
Operating system: Windows XP or more recent
Screen resolution: Minimum of 1024x768
Internet: Connection speed of 36.6 Kbps or faster
Can I download MetaTrader 4 on Mac?
Yes, you can download MetaTrader 4 platform for Mac users.
Am I able to access my MetaTrader account using the FOREX.com mobile app?
You’ll be able to access your MetaTrader account from the FOREX.com mobile app, including funding and withdrawals and viewing our analysis and education. However, please be aware you won’t be able to place trades or monitor your positions on your MetaTrader account from the FOREX.com mobile app – you’ll need to log into the MetaTrader mobile app to do that.
Can I place trades on the MetaTrader platform from the FOREX.com mobile app?
Unfortunately, you’re unable to place trades on the MetaTrader platform through our FOREX.com mobile app. This is because MetaTrader is a third-party platform. The FOREX.com mobile app is designed to be a companion app to your MetaTrader account, where you can access your account and various features of the FOREX.com mobile app, including funding, withdrawals, news and analysis. To place trades, you'll need to access the MetaTrader mobile app instead.
Can I log into the FOREX.com platforms with my Meta Trader account?
You’re able to login to the Forex.com platforms to fund your MetaTrader account or view our news and analysis. However, the ability to trade or manage orders and positions, or view your balance won’t be accessible.
Does MetaTrader 4 adhere to the First In First Out (FIFO) rule?
Yes, open positions are closed according to the (First in First Out) FIFO rule. All trades opened within a particular currency pair or product are closed in the order in which they were originally opened.
What trade execution modes are supported on MetaTrader 4?
The MetaTrader 4 platform supports the following execution modes:
Market orders are executed at the best available price at the time the order is received.
When economic data releases or major news events are announced, prices may “gap” as the market reacts and adjusts to the news–i.e. prices may move dramatically in one direction. We always aim to provide liquidity, but in extreme market conditions there may be no available liquidity for a very short period. Gap market conditions are also common when trading resumes after a weekend or holiday. You should be aware of the following risks associated with volatile markets:
Stop and limit orders may be executed at a different price from the requested price, or the last quoted trade price at the time of order entry. Orders may be partially executed or may be executed in several stages at different prices.
Opening prices may differ significantly from the previous day’s close.
Our quoted prices are executable the majority of the time. In fast-moving markets, orders may be executed at a price which has ceased to be the best market price. Limit orders will always be filled at the price asked or better.
Our foreign exchange, gold, and silver price quotes are generally derived from prices provided to us by selected top-tier global banks in the wholesale foreign exchange, gold and silver markets which we believe will provide the best available prices to you on a consistent basis.
What order types are available on MetaTrader 4?
Market orders are executed at the best available price at the time the order is received.
Limit orders (take-profits) are executed at the order rate or better. Sell limit orders are filled when the bid reaches the requested rate; limit orders to buy are filled on the offer.
A stop order is an order to buy or sell once a pre-defined price is reached. When the price is reached, the stop order becomes a market order and is executed at the best available price.
Stop Entry Order - this is an order placed to buy above the current price, or to sell below the current price. These orders are useful if you believe the market is heading in one direction and you have a target entry price.
Stop Loss Order - this is an order placed to sell below the current price (to close a long position), or to buy above the current price (to close a short position). Stop loss orders are an important risk management tool. By setting stop loss orders against open positions you can limit your potential downside should the market move against you.
Remember that stop orders do not guarantee your execution price – a stop order is triggered once the stop level is reached, and will be executed at the next available price.
All of the above orders may be entered as Day Orders, entered today and good until end of New York business day (5pm New York time). Or, customers may choose to enter a Good 'til Cancelled Order (GTC), which is valid until the order is executed or cancelled.
Orders remain open until they are triggered or cancelled. If a position is closed manually, any order(s) relating to that position must also be cancelled. Good ‘til cancelled (GTC) orders are valid until the order is executed or cancelled. Alternatively, you can specify the exact expiration time of your order.
Placing contingent orders may not necessarily limit your losses.
Minimum Placement Distance
Limits and stops must be set at least 1 pip away from the prevailing market price.
End of Day (EOD) orders automatically expire at 5pm New York time on the same day the order was entered. Good ‘til cancelled (GTC) orders are valid until the order is executed or cancelled. Alternatively, you can specify the exact expiration time of your order.
Orders Left Over the Weekend or Holidays
FOREX.com’s trading hours are from Sunday at 5pm New York time through Friday at 5pm New York time . Orders (e.g. stops, limits, and contingent orders) left pending over a weekend or holiday period will not be executed until FOREX.com resumes regular trading hours.
How do I trade over the phone with my MetaTrader 4 account?
Phone trading is available to customers during market hours. To place a trade over the phone, contact customer service.
Phone Trading Instructions:
- State your Account Number. You will be asked to verify the name on the account and answer other security questions.
- Ask for the current price. For example, "I would like a price on Euro/U.S. Dollar."
- FOREX.com will provide the current bid/offer. For example, "Euro/U.S. Dollar is trading at 1.28551/562" (the first number being the bid, the second the offer).
- If you wish to place a market order, state your interest. "I sell 50,000 of Euro/U.S. Dollar at the market."
- FOREX.com will provide verbal confirmation of the trade. Your trade will be entered on your behalf and the trade will appear in the trading platform immediately.
- If you do not wish to deal at the quoted levels, simply say "Nothing done."
- You may also request that a stop or limit order be placed on your behalf. Be sure to indicate the type of order and the price.
All trades executed via the phone are subject to a pre-deal margin availability check and will be manually entered into the customer's account for integrated P&L analysis and reporting.
All phone orders will be recorded to ensure fairness and accuracy for all parties involved.
How do I access my MetaTrader 4 account reports?
Account reports are accessible from directly within the trading platform. Click on the Account History tab in the Terminal section, right-click and select the period you would like to see the history of, and then right-click again and select Save as Report.
How do I set up rate alerts in MetaTrader 4?
To receive rate alerts, you’ll need to obtain your MetaQuotes mobile app ID. To do this, you must download the MetaTrader 4 mobile app on your iOS or Android device. Once downloaded, open the app, and log in. Select the chat icon on the bottom right to open the "Messages" page. Then select MQID located at the top next to the search icon.
Return to the desktop platform and go to Tools > Options > Notifications, check the box for “Enable Push Notifications” and enter your MetaQuotes ID from your mobile app. Then click OK.
To create a new alert, select the Alerts tab, right-click in the space above., and select Create. Make sure the Enable box is checked. Within Action, select Notification as the delivery method. Select the Symbol for which you'd like to set an alert, then select and enter your specifications: Expiration, Condition, Value. You will then receive your rate alert as a push notification to your mobile device.
What are Expert Advisors?
Expert Advisors (EAs) are programs that can be used to automate trading and can be written using the MQL4 language or purchased from a third party. Keep in mind that EAs run locally on your computer and will not execute strategies when disconnected from the server. For qualified clients, EA hosting services are available to run your strategy on a secure VPS environment. Learn more about Expert Advisors.
Please note that MetaTrader 4 allows you to run more than one Expert Advisor simultaneously.
How do I qualify for free EA Hosting at FOREX.com?
To qualify for free EA Hosting, you must trade at least a notional volume of 500K per month.
We will re-evaluate your eligibility at the end of each calendar month. A fee of 30 base currency will be debited from accounts that do not meet the minimum eligibility requirement to cover the VPS service. Expert Advisor Hosting is provided by Liquidity Connect.
How do I download the MetaTrader 4 app on my mobile device?
Search for MetaTrader 4 on your mobile device’s app store or follow the link to our platform Download Center.
Can I manage my account on MT4 Mobile?
Yes, you can monitor your account, access your reports and more on the MT4 mobile app.
How do I set-up an Investor Password for my MetaTrader 4 account?
Investor Passwords requests must be submitted to our Client Management team. To request an Investor Password, contact us.
How do I find my FOREX.com MetaTrader 4 server name?
If you are using a live account, you’ll need to select the appropriate live server from the drop-down list in the login window on the MetaTrader 4 platform. If you’re on a mobile device, simply search for your broker (FOREX.com) when connecting to a new account and select the appropriate server from the list.
If the server name is unavailable by default, the server address (host name) needs to be entered when logging onto the MetaTrader 4 platform by going in the upper left to File > Login to Trade Account, and entering the address into the Server field, along with your correct login number and password.
If you’re unsure about the specific server name or address for your account, please log onto MyAccount and check the left sidebar on the Summary page
Why do the prices I see in the Market Watch window differ from prices on the chart for the same product?
Since MetaTrader 4 is a third-party platform, we supply multiple rate feeds to its developer, MetaQuotes. The charts, therefore, display aggregate or default pricing for a given market, while your particular account’s pricing is displayed within the Market Watch window or within the trade ticket.