How to Open a Metatrader 4 Account
We'll also take a look at other options available to you, such as how to create a MT4 test account, and how to install the software on different devices. Creating an account in MetaTrader 4, whether you want to create a live 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 — with which you log in to MetaTrader.
How to Get Started with a MetaTrader 4 Live Account
To get started trading with MT4, you need to follow four simple steps:
- Download and install MetaTrader 4
- Open a MetaTrader 4 trading account
- Log in to MetaTrader 4 with your account details
- How to install MetaTrader Supreme Edition
- How to fund an MT4 account
Now let's explore these steps in more detail:
1. Download and Install Metatrader 4
Downloading MetaTrader 4
Go to the MetaTrader 4 download page and click the relevant link for your preferred operating system or device.
If you are using a PC or Mac, download the relevant software to your computer, and then run the file 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 computer, run the file and follow the instructions in the installation wizard. By default, the installation process will create a shortcut for MetaTrader on your computer and decide the location of the program files. You can 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.
You can see the full download and installation process in the video below.
2. Create a MetaTrader 4 Trading Account
How to Open a Trading Account on MetaTrader 4
Next, we need to look at how to create an account in MetaTrader. You now have the MT4 platform on your device, but to actually trade you need to connect to a broker's server. Please note, you cannot instantly open a live account with the MetaTrader 4 terminal itself. Instead, you need to open an account through a broker first.
If you're wondering how to make a MetaTrader broker account, the easiest way is to visit the ' Sign Up' page of your chosen broker. Once you have signed up for an account with Admiral Markets, then you can follow these steps to apply for a live trading account:
- Click the 'Open Live Account' button.
- Add and verify your phone number.
- Add your details over the following pages. These details will include contact information, tax identification details and your passport number.
- Read and accept the confirmation notice.
- Verify your identity by uploading the requested documents.
From here, Admiral Markets will review your application, after which we will contact you by email with the results of your application.
You can see the full process for opening a live account in the video below.
How to open a Demo Account for MetaTrader 4
The best way to learn how to trade with MetaTrader 4 is with a demo account – because it allows you to see what works through trial and error, using virtual funds and by trading in risk-free trading environment, 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 transition your MetaTrader account to a live one.
Let's suppose 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 however, even if you are an experienced trader. You might, for example, be well-versed in trading Forex, but you might also want to branch out into European shares. You could first practise with European share CFDs in MetaTrader with a demo account, before moving on to making live trades.
To create a new demo account for MetaTrader 4, simply visit the demo account page on our website and complete the form. Once you have done this, you will receive an email with your trading account details, which you can then use to log in to MT4.
3. Log in to MetaTrader4
Once you have opened your account, you will receive your account details by email, including your account ID, password and account server. You will need these details to log into the MetaTrader terminal. By logging in to MT4, you can 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.
To log in, click on the 'File' tab at the top of the terminal and select 'Log in to Trade Account'. This will open the following window:
Source: MetaTrader 4 platform - opening an account
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 trade. The investor password grants a broker or trader the ability to let another person see how trading on MetaTrader 4 works.
4. How to Install MetaTrader Supreme Edition
Whether you are considering to trade Forex in MetaTrader with a demo account, or a live account, you should consider taking a look at the MetaTrader Supreme Edition (MT4SE) plugin. 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.
5. How to Fund a MetaTrader 4 Account
If you opt to trade with Admiral Markets, the best way to fund your MT4 account is via the bespoke Trader's Room dashboard. This offers a convenient way of managing your account and conducting money operations, such as withdrawing or depositing funds. To deposit or withdraw funds, scroll down to the account you would like to add funds to and click 'deposit. Choose your preferred payment method and follow the prompts to make your deposit.
Depending on your payment method, funds may take up to three business days to clear. Once they have cleared, your account balance will appear in your Trader's Room dashboard next to your live account details.
Note that you can also withdraw funds from Trader's Room. Both the deposits and withdrawals processes are outlined in the video below.
MetaTrader 4 Trading Accounts – Conclusion
Hopefully now you know how to open an 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, informative, and useful.
If so, you might also like to read our Guide to MT4 & MT5 Shortcuts, which teaches traders various shortcuts that they can use to speed up the process of trading, and make it much more user-friendly, and most importantly, a more enjoyable trading experience!
If you would like to learn more about account creation, and would prefer a more visual guide, we recommend that you watch the videos available via the Forex 101 online course, which covers this topic, and other important topics for beginners in Forex trading.
Trade With MetaTrader Supreme Edition
Admiral Markets offers professional traders the ability to significantly enhance their trading experience by boosting the MetaTrader platform with MetaTrader Supreme Edition. Gain access to excellent additional features such as the correlation matrix - which enables you to compare and contrast various currency pairs, together with other fantastic tools, like the Mini Trader window, which allows you to trade in a smaller window while you continue with your day to day things.
Get all of this and much more by clicking the banner below and starting your FREE download!
About Admiral Markets
Admiral Markets is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the world's most popular trading platforms: MetaTrader 4 and MetaTrader 5. Start trading today!
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.