- What is MT4 Demo account of XM?
- Why you should invest with XM?
- What is MT4?
- You can customize (personalize) your MT4 platform
- Not only manual trading but you can automate trading
- You must know how to place trades on MT4 first
- MT4 (MetaTrader4) is developed by MetaQuotes
- Why is MetaTrader4 is the most popular platform?
- MT4 can automate orders with “scripts”
- MT4 Technical Analysis Indicators for free
- Automated (Algorithm) Trading with MT4 EAs (Expert Advisers)
- XM has the license to use MT4 (MetaTrader4)
- MQL4 Community for MT4 users
- 4 Main Functionalities of MT4 platform
- MT4 Scripts and Expert Advisers
What is MT4 (MetaTrader4)?
MT4 is short for MetaTrader4 and it is one of the world’s most popular trading platforms.
The platform gives you many advantages to help you trade smoothly, quickly and with confidence.
It gives you an array of useful tools that let you evaluate prices, manage your trades and allow you to make the most of automated trading methods.
XM is currently known as the world’s largest MT4 broker according to MetaQuotes, the developer of the trading platform.
You can find more information of MT4 trading platform in the official website of XM.
What is MT4 Demo account of XM?
A demo account is a virtual trading account you can use to practice trading the financial markets.
Trading on the demo account occurs under actual market conditions and is meant to be a simulation of a real trading account.
How to open XM MT4 Demo account?
You can register for a virtual practice account by clicking on the Open a Demo Account button available on the homepage and throughout the site.
You can also register for a demo account by clicking below.
XM will ask that you fill out your information as accurately as possible so that they can provide you with continuous support.
Once you have submitted your details, you can then proceed to download and install the platform.
Why you should invest with XM?
XM is known as the most popular MT4 Forex broker in the world.
There are many reasons to invest with XM. Here are some of XM’s advantages for investors.
- Instant order execution on XM MT4 and MT5
Orders placed on XM MT4 and MT5 are executed immediately online. Traders can also place stops or limits on open positions or have them pre-set on market orders.
- Zero Commissions and Fees
Traders of XM can trade with zero commissions and no transaction fees for spot trading. (depending on account types)
- Powerful Trading Software – MT4 and MT5
XM MT4 and MT5 platforms set new standards in online trading functionality, performance, and ease of use. Get a free demo account here.
- Fractional lot sizes
Trading on XM MT4 and MT5 software is not confined to only 1 lot increments. Clients can also trade 0.1 lots, 0.01 lots or any other amount.
- Real-time account and margin information
Your account balance, usable margin and value of open positions are displayed in the XM MT4 and MT5 softwares in real-time.
- Real-time Charts, News and Quotes
XM MT4 and MT5 has charts, news, and quotes easily accessible from the menus.
- “Mini” (Cent) Trading Capability
On XM MT4 and MT5, you can set the number of Lots to “0.1” to trade a mini position with 1 pip equal to about $1. Margin requirements for these positions are less than $100.
- Hedging capability
XM Traders can open positions in the same currency in opposite directions, without the positions offsetting and without using additional margin.
- Multilingual Service and Support for 24/5
XM clients have access to 24 hour technical support, as well as 24 hour trading by telephone, email or chat.
- Lower Margin Requirements
On XM MT4 and MT5, you can trade all currencies with up to 1:1000 leverage. Lower margin requirements mean more trading flexibility without getting a margin call.
- Confirmed Fills
All market orders are confirmed within seconds at prices clicked on or accepted by the client. Stop orders are also executed when triggered.
- Wide selection of products
On XM MT4 and MT5, you can trade any of the currency pairs, precious metals and crude oil and more all together.
- Limited Risk
XM’s clients can never lose more than their funds on deposit with XM’s NBP (Negative Balance Protection).
- Security of funds
With XM, your funds are secure and properly handled. Client funds are maintained segregated from XM’s own assets, thereby offering security of client funds.
You can customize (personalize) your MT4 platform
If you’re new to trading, MetaTrader 4 (MT4) may seem rather technical but don’t let that put you off.
The platform is very flexible and suitable for first-time traders.
One of the many advantages of this platform is that you can adjust it to your level of experience.
That means, as you’re becoming more familiar with the markets, you can start using more of its features.
The platform will never be too technical or not sophisticated enough – it is what you make of it.
Not only manual trading but you can automate trading on MT4
MT4 is a platform widely used to trade Forex.
It allows you to access the financial markets, see live prices, use technical indicators and place your trades.
You can automate your trading on MT4 with Expert Advisors (EAs), which is software you can programme or buy to execute trades when certain parameters are met.
No matter what your trading experience is, you should make sure you feel comfortable with the platforms and the features you’re using.
It’s hard enough to keep track of what’s happening in the markets and how that relates to your strategy without having to worry about not getting the most out of your platform.
MT4 presents users with a multitude of tools to help you trade.
Perhaps MT4’s greatest functional attribute is that it can execute Expert Advisor (EA) strategies for you.
EAs allow you to automate your trading. However, before you get to this point you should tackle the basics.
You can find out more features about MT4 in the official website of XM.
You must know how to place trades on MT4 first
The main functionality of any trading platform is to place trades, so learning the mechanics of doing this should be the first step.
At the same time it’s a good idea to learn how to set your stop and limit orders.
No matter what your trading strategy is, risk management is so important and cannot be ignored.
Charting functionality should be next on your list of priorities when you learn how to use MT4.
Charting is a tool most traders use to make their trading decisions.
Once you have covered off all of the basic functionalities in these areas you will be ready to place trades.
MT4 (MetaTrader4) is developed by MetaQuotes
The MetaTrader platform was created by the MetaQuotes Software Corporation.
MetaQuotes started making financial platforms in the year 2000 when it released the FX Charts trading platform.
After the initial success of this platform, MetaQuotes then created a new platform to handle not only Forex transactions but also CFD (Contracts For Difference) trading.
The new platform included an integrated programming language called MQL1.
The MetaTrader generation of platforms started a year later, adding futures trading to the possibilities and using an improved integrated programming language, MQL2.
After intermediate releases of MetaTrader, including MetaTrader for mobile platforms and for Palm, the company brought out MetaTrader 4 in 2005, with MQL4 IDE, a trading strategy development environment that enhanced the capabilities of the platform for automated trading programs.
MT4 can automate orders with “scripts”
Traders and investors using the MetaTrader interface can see real time information on the “ask” and “bid” prices of currency pairs that are of interest to them.
The MetaTrader screen displays graphical charts that show how prices are developing so that traders can identify patterns to make trades.
Traders can also automate certain actions using “scripts”.
These are simple instructions that can be stored and applied to the MetaTrader software to save traders time and effort.
An example might be to set “stop loss” orders to 15 open positions for trading a particular currency.
Instead of manually setting this order for each position, a trader can apply a script that automatically does this.
Many of the actions available to traders in the MetaTrader interface can be accomplished using the same “drag and drop” possibilities as for other kinds of software.
For example, to apply the script above, a trader would “drag” the script from its directory on the MetaTrader screen and “drop” it onto the area containing the 15 open trades.
MT4 Technical Analysis Indicators for free
The MetaTrader interface is equipped with a number of different indicators for technical analysis.
The standard indicators are based on techniques involving moving averages, price oscillators, retracement levels and breakout points.
As a trader, you’ll find tools like MACD, Parabolic SAR, Pivots, Stochastic Oscillator and RSI and CCI standard indicators.
Traders can also customize these indicators to build specific ones for their own use.
Automated (Algorithm) Trading with MT4 EAs (Expert Advisers)
Besides the possibilities of scripts to execute an action just once, MetaTrader also offers “Expert Advisors” (EAs) to manage positions and to give orders without manual intervention.
EAs extend the possibilities of automatic trading and allow traders to define more complex strategies that can be applied when market conditions trigger the intervention of the EA.
The MetaTrader client software is provided with examples of EAs that traders can also use or modify for their own trading requirements.
The platform also allows for even more sophisticated programming by making available an “application programming interface” (API).
XM has the license to use MT4 (MetaTrader4)
MetaQuotes licenses its MetaTrader platform to financial institutions and organizations, including forex brokers.
Brokers then have the right to distribute the MetaTrader client interface free of charge to their own clients.
They can also add to the scripts, indicators and Expert Advisors to add value to the platform for their own commercial advantage in attracting new investors and maintaining the loyalty of existing ones.
MQL4 Community for MT4 users
In parallel with the popularity of the platform, a MetaTrader community has arisen composed of MetaTrader users and developers.
Traders wishing to implement different scripts or Expert Advisors may find that the script in question has already been written and made available by another member of the community.
The MetaTrader trading interface is a popular application that traders can run on their own PCs to manage their trading in forex and other financial trading activities.
It is part of the software in the MetaTrader platform is developed by the MetaQuotes Corporation.
There are two major components of the platform:
- MetaTrader “client”
This is the software interface that is installed on a trader’s PC and that communicates with the trader’s broker over the Internet. Traders use the MetaTrader client to predict developments in the market and in the exchange rates of currencies of interest to them, and to open and close positions online with their broker.
- MetaTrader “server”
An application running on the broker’s own IT system that receives and acts on orders from traders, sends information to traders via the MetaTrader client software and performs different administrative and management functions for the broker.
4 Main Functionalities of MT4 platform
The main MetaTrader 4 terminal functionalities are: Market Watch, Navigator, Chart Tools (Terminal, Reading Activity Status and New Order Button).
1. Market Watch window
The Market Watch window on the upper left part of the screen displays the currency pairs available to you.
For each currency pair (EUR/USD for example), you can see the Bid Price (what you can get for selling the currency pair) and the Ask price (what you have to pay if you want to buy).
2. Navigator Window
To see your accounts, technical indicators, custom indicators, expert advisors and scripts, you use the Navigator window.
These items are listed here and you can click on them to see more information.
To use a particular indicator on a forex chart, you can drag and drop the indicator directly into the forex chart.
The same method works for custom indicators, which are the technical indicators created by users outside the MetaQuotes Corporation, and for scripts, which you can drag onto a chart to perform a specific action.
3. Terminal bar
At the bottom of the screen is the terminal bar where you’ll find information on your performance for current and preceding trades.
You can see which trades are currently open, your account balance and your free margin.
You can also see a display of all the trades that are now closed. News from your broker is displayed under the News tab or the Mailbox tab.
The Alerts tab lets you know when certain market conditions are met and you can define what those conditions are.
The Experts tab tells you about the Expert Advisor you are using; if it made or closed a trade, if it is active or disabled.
4. Chart Tools
At the top of the screen the Chart Tools let you switch between different types of chart display: bar charts, candlestick charts and line charts are all available.
New Order and New Chart buttons display windows for placing orders and for seeing a chart for a new currency pair, respectively.
MT4 Scripts and Expert Advisers
A script is a MetaTrader file or command that only runs once.
It is a simple way of automating an action in the MetaTrader interface, such as setting a stop-loss order for a number of open positions, or systematically opening long and short positions for a particular financial instrument.
Scripts can save a trader considerable time and energy, and they can also help prevent errors due to inattention (for example, opening two long positions, instead of one long and one short).
Expert Advisors are more sophisticated. They will run until you tell them to stop.
You can program them to take action when certain conditions in the market are met, so that they provide a means of automated trading.
Some financial institutions use the MetaTrader Expert Advisors to help them execute complex trading strategies.
Other traders use them to be able to carry on trading even if they are absent from their PC.