How to quickly open an MT4/MetaTrader 4 account
How to quickly open an MT4/MetaTrader 4 account
For many traders, the financial market offers excellent opportunities to invest in a wide variety of financial instruments. To increase your chances of success in the market, you need to choose the right trading platform, a good strategy, manage your capital, acquire knowledge, and have access to training materials.
Among all trading platforms, MetaTrader 4 (MT4) is the most popular, especially for those trading Forex or CFDs. In fact, over 95% of Forex brokers offer this platform on their websites. Developed by MetaQuotes, MT4 is renowned as a stable platform with a wide variety of tools and features. In this article, we will guide you on how to open a trading account on MT4.
All the steps are summarized briefly:
Register with the MT4 trading platform.
Download MetaTrader 4 software
Deposit funds into your account or use a demo account.
Start trading live
The most important points summarized
● To open a MetaTrader 4 account and trade on the stock exchange, you must first register with a broker and complete identity verification.
● With an account, you can now download the Metatrader 4 (MT4) software (mt4.exe). Your broker will usually provide a link to the software download page.
● After successfully downloading and installing the software, you can open an account. To do this, you need to connect to the broker's server.
To set up an account, you need to access the broker's website and select the registration option. This option depends on the broker's website setup. For example, some brokers have a "Register" option, while others have an option to "Start trading" or "Open a live account". After selecting registration, you can follow the steps required by the broker.
My tip: Use the best MT4 & MT5 brokers with 0.0 pip spreads.
Here are the advantages of some reputable brokers that are chosen by many traders:
Exness broker:
● Best for Forex
● Open an account with just $10.
● The difference is from 0.0 pip.
● Leverage from Low to Unlimited
● Fast ECN/STP implementation
● Personal support
● Rating: 5/5✪
Vantage Brokerage:
● Adjusted multiple times
● ECN/STP spread from 0.0 pip
● Variable leverage
● Pay with cryptocurrency
● Bonus offer
● Open an account quickly
● Rating: 5/5✪
Pepperstone Broker:
● TradingView support
● RAW spread from 0.0 pip
● Low cost
● Personal support
● Rating: 4.9/5✪
1. Gather information
First, you need to provide the information the broker requests. Typical information includes personal details such as:
● Name
● Address
● Contact information (email or phone number)
● Country of residence
● National ID number or passport number
● Date of birth to ensure you are over 18 years old.
Regulated brokers may also request additional information, including your trading experience and goals, as well as your net worth.
2. Read and accept the broker's terms and conditions.
3. Provide the required documents to verify your identity.
Brokerage firms must register clients through a Know Your Customer (KYC) process, and each firm has its own requirements for the necessary documentation to verify your identity. Most firms require you to present government-issued identification and proof of residency, such as utility bills or bank statements.
Important: After you upload your verification documents, the broker will review your application and contact you to let you know if your application has been approved. Sometimes, you may be asked to provide additional supporting documents if the broker believes the original documents are insufficient to verify your identity. If the broker approves your application, you will receive account details, including your account ID, account server, and password.
With an account, you can now download the Metatrader 4 (MT4) software (mt4.exe). Your broker will provide a link to the software download page, where you can select your preferred operating system or device. MT4 is available for Windows, Mac, Linux, Android, and iOS. MT4 on Windows requires Windows XP or later. Although MT4 is built specifically for Windows, it is not designed specifically for macOS.
To install MT4 on Android, the system requirement is Android 4.0 or higher. The system supports both Android smartphones and tablets — simply download it from Google Play. The MT4 app for iOS is compatible with both iPhones and iPads, but requires a device running iOS version 7.0 or higher. Simply download it from the App Store.
After downloading the relevant software to your computer, run the file and follow the installation instructions to complete the installation process. By default, the installation process will create an MT4 shortcut on your computer and automatically locate the program files. You can save the files to a different location by specifying the location during installation.
After the installation is complete, you can launch MT4 by double-clicking the shortcut created during installation. If you are downloading the software to a mobile device, simply download and run the application without further setup. The MT4 terminal is not a data-intensive program, so it won't take up much space on your device.
After successfully downloading and installing the software, you can open an account. However, you cannot open an account directly on the MT4 platform. To open an account, you must connect to the exchange's server.
Visit the broker's website and select the option to open a new account in the account section.
Select “MetaTrader 4” from the list of platforms.
Choose a trading account type with terms that suit your trading needs. Brokers offer a variety of account options, with many offering standard, micro, and mini accounts based on the trader's risk tolerance and goals. Besides the account type, you also need to choose the optimal trading conditions for your objectives, from leverage level to the account's base currency. The account's base currency cannot be changed, and you will need to open a separate account if you wish to use a different currency.
Read and accept the broker's terms, conditions, and risk disclosure.
After completing this process, the broker will send all the account parameters you selected for the new account to your email address for your reference. Once this step is complete, you can deposit funds into the account.
Due to the risky nature of financial markets, brokers have a legal obligation to provide risk disclosures that you must be aware of before you begin trading.
Unlike demo accounts, real accounts require you to deposit funds before you can start trading. You can deposit funds into your account by logging into the broker's website, selecting the "Deposit" option in the account section, and following the broker's instructions.
On the deposit page, you can view all available deposit methods and choose the one that is most convenient for you. Most brokers offer a variety of deposit methods to accommodate the many payment methods traders use to trade Forex or CFDs.
After depositing funds into your account, you can open and launch the installed MT4 platform. Now you can start trading. When you open the platform, you will be prompted to enter your login information and password to verify the account that the exchange provided when you opened the account. You must ensure that the information in the "Server" field matches the information provided by the exchange.
You can now start trading on MetaTrader 4. However, I recommend testing the software on a demo account first. Most brokers allow you to open orders with a minimum capital. Initially, you should only risk a few USD!
Additional tip: Before trading, right-click on the market and select "Show all". This will display all of the broker's assets in the software.
The best way to learn how to trade with MT4 is to use a demo account. This account allows you to see what works and what doesn't in a risk-free trading environment. Starting with virtual money without incurring real losses is a great way to practice before moving on to a real MT4 account.
To open an MT4 account, you first need to download and install MT4 (either directly from Metaquotes or from a broker that supports MT4). Then, open the program and click on "File" in the upper left corner, and then select "Open Account". A window will open where you can choose a broker and enter your account login information.
Using the MT4 program is completely free, including opening an account. However, this fee does not include the transaction fees charged by the broker you link to MT4. These fees vary depending on the broker.
Yes, you can use MT4 with a demo account. To do this, you first need to create a demo account for MT4 with your broker and ask them to send you the login information. Then, in MT4, click on "File" and then "Open Account". In the window that opens, select your broker and demo account server. After entering the login information, you can start trading with the demo account.