How to Open a Live Account on MetaTrader 4
Creating a MetaTrader 4 account involves two key elements. The first element is installing the actual MetaTrader 4 (MT4) platform. The second element is all about how to set up a trading account — with which you log in to MetaTrader.
This article will explain how to open a live and demo trading account on the MetaTrader 4 (MT4) trading platform. We will also take a look at other options available to you, such as how to create an MT4 test account, and how to install the software on different devices.
Table of Contents
MetaTrader 4: An Introduction
To get started learning how to setup MetaTrader 4 and begin trading with a MetaTrader 4 account, you need to follow six simple steps:
- Choose a MetaTrader 4 broker
- Download MetaTrader 4
- Create a MetaTrader 4 account
- Log in to MetaTrader 4
- The MetaTrader Supreme Edition
- Add Funds to Your Account
Now let's explore these steps in more detail:
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MetaTrader 4: Which Broker is Best?
The first step in the MetaTrader 4 setup and opening a MetaTrader 4 trading account, is to choose a Forex broker who offers the MT4 trading platform. Learning how to get a broker for MetaTrader 4 can be a daunting task due to the amount of choice out there. Make sure you do your research carefully and, if you need some assistance, check out our guide on 'How to Find the Best CFD & Forex Brokers', which will help with this process.
At Admirals, we offer our customers the ability to trade with both MetaTrader 4 and MetaTrader 5 trading platforms absolutely free.
MetaTrader 4 Download: How To
Whether you are considering opening a demo or live trading account, you will need to get the MetaTrader 4 download and install the MetaTrader 4 software on your computer.
If you are using Windows head over to the MetaTrader 4 download page, fill in your details and begin your download! For those of you who want to download MT4 for Mac, have a read of our article 'How to Install MetaTrader 4 For Mac' to help you get started.
Once you have downloaded the installation file, open it to start the installation progress. Once the download has completed, move onto the next stage of our article to learn how to open a live account on MetaTrader 4.
Creating a MetaTrader 4 Account
Now that you have downloaded MT4 for Mac or Windows, you will need to open an account with your chosen MetaTrader 4 broker.
For those who are completely new to trading, it is recommended to practice on a demo account before making the transition to a live MetaTrader 4 account. The process for opening a live account does not differ greatly from that of opening a demo account. Nevertheless, we will walk you through both processes in the following sections.
Opening a MetaTrader 4 Demo Account
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 a risk-free trading environment, without incurring losses with real money. If you are just a beginner, this is a great way to start, until you are ready to make a live account on MetaTrader 4.
Opening a MetaTrader 4 Live Account
Next, we need to look at how to create a live account in MetaTrader 4. To make a live account on MetaTrader4, head to the 'Sign Up' page of your chosen MetaTrader 4 broker.
If your chosen broker is Admirals, once you have signed up you can follow these steps to apply for a live trading account:
- Log in to the 'Dashboard'
- 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, Admirals will review your application, after which we will contact you by email with the results of your application.
Logging in to MetaTrader 4
Once you have successfully created your MetaTrader 4 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 your MetaTrader 4 terminal.
To log in to MT4, open the program, click on the 'File' tab at the top of the terminal and select 'Log in to Trade Account'. This will open the following window:
Enter your login details, ensuring that you select the account server specified within the email from Admirals.
If you are wondering what the investor password is for, which should be included in your account details email, this allows access to view the account, but not to trade. So, you can see open positions, balances, live prices and even use Expert Advisors, but not trade. The investor password grants a MetaTrader 4 broker or trader the ability to let another person see how trading on MT4 works.
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MetaTrader Supreme Edition
Whether you are considering trading Forex in MetaTrader 4 with a demo account, or a live account, you should consider taking a look at the MetaTrader Supreme Edition (MTSE) plugin. This is because MTSE greatly increases the scope of the platform. MTSE is a custom plug-in that expands the number of indicators available, as well as offering a wide array of cutting edge trading tools.
Adding Funds to Your Account
If you opt to trade with Admirals, the best way to fund your MetaTrader 4 account is via the 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 Dashboard next to your live account details.
MetaTrader 4: Final Thoughts
Hopefully, now you know how to open both a live MetaTrader 4 account and a MetaTrader 4 demo account. We hope that you have found this discussion of getting started on the MT4 trading platform 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 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!
Interested in expanding your trading knowledge further? Tune in to one of our free webinars and discover new trends and strategies with our in house trading experts! Click the link below to register:
Other articles you may find interesting:
- How to use MetaTrader 4? MetaTrader Setup, Trading and Everything Else
- Use MetaTrader Like a Pro With MT4 & MT5 Shortcuts
- An Overview of the Best MT4 Indicators
Frequently Asked Questions
How do I create a MetaTrader 4 account?
To create a MetaTrader 4 account, you'll need to download the MetaTrader 4 trading platform from a reputable broker's website or app store. Once downloaded, open the platform and follow the on-screen instructions to create a new account. You'll typically need to provide your personal information, email address, and set a secure password to complete the registration process.
What information do I need to provide to create a MetaTrader 4 account?
To create a MetaTrader 4 account, you will generally need to provide your full name, email address, phone number, and create a strong password. Additionally, you may be required to provide identification documents, such as a government-issued ID and proof of address, as part of the account verification process.
Are there any fees associated with creating a MetaTrader 4 account?
Creating a MetaTrader 4 account is usually free. However, keep in mind that there may be fees or charges associated with certain actions on the platform, such as deposits, withdrawals, or trading activities. It's essential to review the terms and conditions of the broker you choose to understand any potential fees or costs associated with using MetaTrader 4.
INFORMATION ABOUT ANALYTICAL MATERIALS:
The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admiral Markets investment firms operating under the Admiral Markets and Admirals trademarks (hereinafter “Admirals”). Before making any investment decisions please pay close attention to the following:
1. 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.
2. Any investment decision is made by each client alone whereas Admirals shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
3. With view to protecting the interests of our clients and the objectivity of the Analysis, Admirals has established relevant internal procedures for prevention and management of conflicts of interest.
4. The Analysis is prepared by an independent analyst (hereinafter “Author”) based on the NAME +(Position) personal estimations.
5. Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admirals does not guarantee the accuracy or completeness of any information contained within the Analysis.
6. Any kind of past or modeled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admirals for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
7. Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.
