How to Open a MetaTrader 4 Account

MetaTrader 4 (MT4) provides access to a wide range of trading tools and indicators and is one of the most popular Forex trading platforms amongst traders.

In this article, we will examine how traders can get started with the trading platform. We will explain how to open both a MT4 demo account and, for those ready to face the live markets, a live MetaTrader 4 account.

Choose an MT4 Broker

The first step in opening a MetaTrader 4 account is to choose a broker which offers access to the MT4 trading platform. Given the vast number of brokers out there, this can be a daunting task.

In order to make an informed decision, make sure you take the time to research some different options and try to find the one which best suits your trading goals. If you are unsure of what to look for, check out our article ‘How to Find the Top CFD & Forex Brokers’.

At Admiral Markets, we offer clients the ability to trade with MetaTrader 4, MetaTrader 5 and the MetaTrader WebTrader.

Download MetaTrader 4

Naturally, whether you are interested in opening a live or demo account, in order to trade with MetaTrader 4, you will need to download the trading platform.  

Head over to our MetaTrader 4 download page, where you can download MT4 on both the Mac and Windows operating systems. Once you fill in your details and start your download, you will be redirected to a page with instructions guiding you through the installation process. 

How to Open a MetaTrader 4 Account

Now you’ve downloaded the trading platform, you can look at opening an MT4 account with your chosen MT4 broker. 

For those new to trading, it is recommendable to practise on an MT4 demo account before making the transition to the live markets. Nevertheless, in the following sections, we will walk traders through the process of opening both demo and live accounts on MetaTrader 4 with Admiral Markets. 

Opening an MT4 Demo Account

A demo trading account allows traders to trade in realistic market conditions using virtual currency.  

Consequently, a MetaTrader 4 demo account can be a great place for beginner traders to start practising on the trading platform without risking their capital on the live markets.  

Far from being suitable just for beginners, a demo account on MetaTrader 4 can also provide experienced traders with a risk-free environment where they can test and attempt to perfect new strategies. 

In order to open an MT4 demo account with Admiral Markets, traders will need to register and then log in to the Dashboard. In the Dashboard, under the Accounts section, click on ‘Demo’ and then ‘Open Demo Account’, as seen in the image below.

On the following page, you will be able to select the type of demo account you want to open.

At Admiral Markets, we offer two types of MT4 accounts - Trade.MT4 and Zero.MT4 - and it is possible to open demo versions of both of these accounts. In order to learn more about the differences between these two accounts, check out the Account Types page on our website.

Once you have picked the type of MT4 demo account you wish to open, click ‘Create Demo Account’ and you will be presented with your login details.

We’ll show you how to use these details to log in to MetaTrader 4 shortly but, first, let’s look at how to open a live MT4 account.

Trade on a Demo Trading Account

Want to trade but not ready for the live markets? A demo account from Admiral Markets allows you to practise trading with virtual currency in realistic market conditions. Click the banner below to open a demo account:

Creating an MT4 Live Account

The process for opening an MT4 live account has a few more steps and, unlike the MT4 demo account, is not instant. Instead, your application will need to be reviewed and approved by the team at Admiral Markets before you will be provided with your MT4 login details.

Once you have registered with Admiral Markets, log in to the Dashboard and click Open Live Account. Over the following pages, you will be asked to provide information, including the following:

• Personal Details - such as your name and date of birth 
• Residential Address 
• Tax ID Number 

Once this information has been provided, you will need to read and accept the confirmation notice, before uploading supporting documents to verify your identity.

From here, Admiral Markets will review your application, after which you will be contacted by email with the results of your application. If approved, you will be able to open a live MetaTrader 4 account in the Dashboard.

Logging in to MT4

Once you have successfully created a MetaTrader 4 demo account or live account, you can use your login details to access the trading platform. In order to log in, you will need your account ID, password and the name of the account server. 

Select ‘Login to Trade Account’ from the File menu and enter your login details into the subsequent window. 

Placing Your First Trade in MetaTrader 4

Once logged in to your MT4 account, you will be presented with a screen similar to the one shown below.

On the left-hand side of the screen, you will find a range of available instruments in the Market Watch window. In order to open a price chart, right click on your instrument of choice and select ‘Chart Window’. 

If you can’t find your desired trading instrument, right-click in the Market Watch window and click ‘Symbols’. This will open a pop-up box which will allow you to browse through all the available instruments, click ‘Show’ in order to add a symbol to the Market Watch. 

Once you have opened a price chart of the asset you wish to trade, click New Order at the top of the screen to open a new order window.  

Here, traders can amend the trade volume, set a stop-loss and a take-profit, and select the type of trade desired before selecting ‘Sell by Market’ or ‘Buy by Market’ to open their position. 

Start Trading with Admiral Markets

With a Trade.MT4 account from Admiral Markets, you can trade Contracts for Difference (CFDs) on a range of Forex pairs, commodities and stocks. Click the banner below to find out more:

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• This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.        
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