There is no cost for downloading(and installing) or using MetaTrader4 and MetaTrader5 trading platforms on any devices.

It is also absolutely free to open Demo accounts on these trading platforms to try out.

Normally, it is even free to open “Live Trading Accounts” with online brokerage firms on MT4 and MT5.

Cost on Trading

Although it is free to download, use and open accounts, there will be certain costs incurred in case you like to invest your own funds through the trading platforms.

These would be the costs charged by online brokerage firms.

The cost of online trading depends on each FX broker.