Welcome to our guide on how to install, set up and get trading with the MT4 trading terminal.
To install MetaTrader 4 for Windows:
- Download the MT4 installation file.
- Run the file from your browser or double-click the installation file from where it downloaded.
- You can modify where you install MT4 by clicking Settings for your preferences, or simply click Next to agree to the End-User License Agreement and continue.
- When the installation is complete, click Finish, and it will open MT4 automatically.
- For your first log in: close the window titled “Open an account” by clicking Cancel. A window that asks for your Login, Password, and Server will appear. If you know this information, key it in now otherwise watch the video below for steps on logging in.
Watch the video to find out how to log in with an Exness trading account, or follow the instructions below:
- Click File > Login to Trade Account.
- Enter your trading account’s Login, Password, and Server then click Login.
- This information is in your Exness Personal Area. Under “My Accounts”, click the cog icon next to the trading account of choice, and select Account Information for the MT4 Login and Server. Your password is the same as set in the PA.
- If successful, you will hear a confirmation chime.
You have now logged into MT4 with your trading account.
Having difficulty logging in? Try our troubleshooting guide.
Note: For MT4 default accounts created during Exness registration, your Personal Area password can be used to log into that trading account. It is recommended that you change your default trading password as soon as you can.
To switch between different MT4 trading accounts, follow the steps below:
- While logged into your trading account, click File > Login to Trade Account.
- Sign in with your other trading account’s number, password and corresponding server; then click OK. You can make switching for next time quicker by ticking Save account information.
You can switch between the active trading account by going to File > Login to Trade Account - use the drop down menu in the Login entry to choose any previously logged in trading accounts.
Please note that you cannot manage multiple MT4 accounts at once with MT4; if you wish to do this, we recommend MT4 MultiTerminal which is tailored to meet this need.
To open a new order, you have three options:
- Click New Order in the toolbar.
- Click F9 on your keyboard.
- In the Market Watch window, right-click on the trading instrument you want to trade and click New order.
- Double-click the trading instrument in the Market Watch window.
- Once you have opened the New Order window, select your preferred symbol, transaction size, Stop Loss (SL) and Take Profit (TP) levels.
- If you want to check the execution type you can find it under Type. Execution type is auto-detected based on the instrument you choose and your account type.
- Click Sell By Market or Buy By Market to place the order.
- Double-click on the order you want to close in the Trade tab of the Terminal section that runs along the bottom of the platform.
- Click the yellow Close By Market button.
- Alternatively, you can also right-click on your order and choose Close Order; if One-Click-Trading has never been activated, you will be prompted to enable it; this method will then work the next time. Another simple way would be to simply click the x beside your order in the Trade tab.
- That’s it. Your order is now closed.
There are 4 pending order types to choose from in MT4 (Buy Limit, Sell Limit, Buy Stop, and Sell Stop). To close an order you can use Stop Loss and Take Profit.
- Open the New Order window (see “Get Trading” above for instructions).
- Once located, select the Symbol you want to trade in, set your Volume and click on Type to select Pending Order from the dropdown menu.
- An extra Pending Order section will appear. Under Type, select your desired pending order. Set your desired Price and Expiry date if you wish.
- You may also set up Take Profit and Stop Loss.
- Click Place to set up your pending order.
Note that if you choose an expiry date that falls during a weekend, your order will expire before the market closes at the end of the current week.
To modify/delete a pending order:
- Right-click on the pending order in the Trade tab of the Terminal section.
- Click Modify or Delete.
- If you want to modify, the fields available for modification are Price, Stop Loss, Take Profit and Expiry. Once done, click Modify.
- If you want to delete your pending order, simply click on the Delete option
Note: Please follow Stop Levels when setting up Pending orders (including SL and TP).
Did something go wrong? Check out these articles.