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How to Open a MetaTrader 4 Account, Both Live & Demo

This article is going to get you up to speed on how to open a trading account on MetaTrader 4. We'll also take a look at other options available to you, such as how to make a MetaTrader 4 test account and how to install the software on different devices.

Getting up and running with MetaTrader 4, whether you want to create a real account or a demo account, involves two key elements. The first element is installing the actual MT4 terminal (that is, the platform). The second element is all about how to set up a trading account — either demo or real or both — with which you log in to MetaTrader.

First things first, let's take a look at how to open a live account in MetaTrader 4 by combining these elements.

How to Get Started with MetaTrader 4 Live Account

To get started trading with MT4, you need to follow four simple steps:

  1. Download MetaTrader 4;
  2. Install MetaTrader 4;
  3. Open a trading account with a broker;
  4. Log in to MetaTrader 4 with your live account details.

Let's walk through these four steps.

Downloading MetaTrader 4

This really is as simple as visiting our MetaTrader 4 Download page and clicking on the relevant link for your preferred operating system or device. If you are using a PC or Mac, download the software to your computer and then run the file in order to complete the installation.

If you are using a mobile device, simply download and run the relevant app. For Apple Devices, get the iOS MetaTrader App from the Apple App Store. For Android Devices, get the Android MetaTrader App from the Google Play Store.

Installing MetaTrader 4

Once you have downloaded MetaTrader 4 to your PC, run the file and follow the instructions of the installation wizard. By default, the installation process will create a shortcut for MetaTrader on your PC and decide the location of the program files. You can very easily specify a different location of your choice though. Once you have finished the installation, you can run MT4 by double-clicking on the shortcut.

How to Open a Trading Account on MetaTrader 4

Next, we need to look at how to create an account in MetaTrader. You have the MT4 platform on your device, but to actually trade, you need to connect to a broker's server.

Note that you cannot instantly open a live account with the MetaTrader 4 terminal itself. Instead, you need to open an account through a broker.

If you're wondering how to make a MetaTrader broker account, the easiest way is to visit our Sign Up Page. There you can run through how to setup a live account for MetaTrader 4.

From within the MT4 platform, you can select the File tab at the top of the platform and select Open an Account. This will open a window showing you a choice of available servers, as shown in the image below:

MetaTrader 4 platform, January 2018

Source: MetaTrader 4 platform, January 2018

If you select a server and then click Next, the following window will appear:

MetaTrader 4 platform, January 2018

Source: MetaTrader 4 platform, January 2018

If you select New real account, it will simply link you through to the previously mentioned Sign Up For a Trading Account Page.

When you open a trading account with a broker for MetaTrader, they will provide you with your authorisation credentials.

These are:

  1. your account ID number
  2. your password
  3. your investor password
  4. the server name.

Once you have opened a real account for MetaTrader 4, the next stage is to use the account details to log in.

Logging in to MetaTrader4

The process of authorisation is how to add a broker trade account to MetaTrader 4. By logging in to MT4, you connect the terminal with a broker server and gain control of your trading account with the broker.

When you run the installed MetaTrader 4 application for the first time, it should prompt you to enter your account details. You simply need to enter your account ID number, the password – note, this is not the investor password but the second item in the list of authorisation credential above, the full or standard password – and make sure you are connecting to the right server.

Alternatively, you can click on the File tab at the top of the terminal and select Log in to Trade Account. This will open a window as shown below:

MetaTrader 4 platform, January 2018

Source: MetaTrader 4 platform, January 2018

If you are wondering what the investor password is for, it allows access to view the account, but not trade. So you can see open positions, balances, live prices, and even use Expert Advisors – but not to trade.

The investor password grants a broker or trader the ability to let another person see how trading on MetaTrader 4 works. Another way to see how trading works on MT4 is through a Demo Account.

In fact, probably the best way to learn how to trade with MetaTrader 4 is with a demo account – because it allows you to see what works by trial and error without incurring losses with real money. If you're just a beginner, this is a great way to start off, until you are ready to step up your MetaTrader account to a live one. If you make a mistake, you don't have to worry with a demo account because you are dealing with virtual funds.

Let's say that you are ultimately interested in trading with a MetaTrader 4 supported Forex account. You can first start using a Forex MetaTrader 4 Demo Account as way of training for the real thing

A demo account can still be useful, even if you are an experienced trader. You might, for example, be well-versed in trading Forex, but want to branch out into European shares. You could first practise what you are doing with European share CFDs in MetaTrader with a demo account, before stepping up to making live trades.

So how do you get a demo account for MetaTrader 4?

How to Get a New Demo Account MetaTrader 4

If you download MT4, we will automatically create a free MetaTrader demo account for you.

There is no actual demo account download for MetaTrader 4. Just as with a live account, once you have installed MT4, it is a case of going through the authorisation process. So you just need to log in with the account ID, password and server details that we send you for your demo account.

You can, if you like, open more than one demo account. How to open a demo account in MetaTrader 4? Click on the File tab and select Open an Account, choose a demo server and click Next. Finally, select New Demo Account and click Next again. Alternatively, you can sign up directly from our Demo Trading Account page.

Now that you know how to make a test account in MetaTrader 4, let's look at some other important account functions that you may find useful.

MetaTrader Supreme Edition

Whether you are looking to trade Forex in MetaTrader with a demo account or a live account, you should take a look at MetaTrader Supreme Edition. This is because MT4SE greatly increases the scope of the platform. MT4SE is a custom plug-in that expands the number of indicators available, as well as offering a wide array of cutting edge trading tools.

Download MT4 Supreme Edition - Forex trading platform

How to Fund my MetaTrader 4 Account

The best way to fund your MT4 account is via our bespoke Trader's Room tool. This is a convenient way of managing your account and conducting money operations, such as withdrawing or depositing funds. To deposit or withdraw funds, just log in to Trader's Room and select the Money Operations tab. You can withdraw funds directly to your registered bank account or via Skrill and Neteller, if you wish.

MetaTrader 4 Trading Accounts – Conclusion

You should now know how to open a real account for MetaTrader, how to open a demo account, and how to authorise your terminal to trade either type. We hope that you have found this discussion of how to create new accounts on MetaTrader to be interesting and useful. If so, you might also like our Guide to MT4 & MT5 Shortcuts.