MetaTrader 4 (MT4): Complete User Guide (2026)

MetaTrader 4 is a Forex trading interface that supports analysis of the financial markets through the use of Expert Advisors. It therefore offers cutting-edge technology for trading. The MetaTrader 4 trading platform has proved excellent for online trading. This guide presents the MetaTrader 4 trading platform in detail.

Last updated: October 2, 2026

In short: to trade on MetaTrader 4, you need an account with an MT4-compatible broker: you receive your login details, you log in to the broker’s server from MT4, and you then place your orders from the « New Order » window. Our recommended broker for using MT4 is Vantage, which also offers MetaTrader 5 and TradingView.

Ouvrir un compte Vantage →

What Is MetaTrader 4?

Also known as MetaTrader 4, MT4 is an application dedicated to Forex trading. This online trading tool enables traders to analyse the financial markets. For accurate market analysis, the MetaTrader 4 trading platform uses Expert Advisors. This MT4 trading platform gives you:

• Mobile trading;
• Trading signals; and
• The Market.

These advantages help you get more out of MT4 Forex trading. The MetaTrader 4 platform was developed in 2005 by MetaQuotes. In addition to Forex trading, MT4 also lets you trade CFDs and access a wide range of markets, such as:

• The index market;
• The commodities market;
• The MT4 crypto trading market;
• Etc.

How to Check Your Trading History on MT4?

Click the « Terminal » tab, then click the « Account History » tab. If you want to change the period, right-click inside the « Account History » tab. You can then choose from the options below:

• Full history;
• Last 3 months;
• Last month.

Why Choose MetaTrader 4 Trading?

As well as being easy to use and intuitive, the MetaTrader 4 trading platform offers several other advantages:

• Real-time price display;
• The MT4 trading report;
• MT4 trading signals;
• MT4 social trading;
• Opening or adjusting orders;
• MT4 CFD trading;
• MT4 copy trading;
• MT4 trading reviews, the MT4 trading journal and MT4 for Mac;
• Access to technical and fundamental analysis.

MetaTrader 4 Indicators and Financial Tools

MetaTrader 4 is equipped with a set of advanced analysis tools to support traders in making their trading decisions. The appeal of the MetaTrader 4 trading platform lies in the fact that MT4 adapts to every type of trader, from beginners to experienced hands. It also gives you the option of using any type of indicators and EAs.

Because the platform is so customisable, you can modify indicator settings however you like. You can likewise create your own EA from scratch. In addition, the MetaTrader 4 platform puts a large number of financial instruments at your disposal, such as:

1. Currency pair instruments;
2. Indicators: these indicators can be customised to suit your needs and the instruments you want to trade.

Note that the free MT4 trading platform offers beginner traders charts that are highly customisable and easy to use. Getting to grips with these charts is simple, even for a beginner.

How to Use MetaTrader 4 to Trade?

• It is important to know that your position size corresponds to the size of a standard lot. A standard lot is equal to 100,000 units. So if you want to buy 5,000 units of a currency pair you like, you need to enter « 0.05 » in the volume field. After that, you can judge whether the moment is right to buy or sell the currency pair. At the end of the operation, a dialog box will appear to confirm that the transaction has been executed.
• It is often observed that after choosing to buy or sell a currency pair, the Stop Loss and Take Profit options in the trading panel are disabled. This often worries traders and causes panic. In fact, the MT4 trading platform disables these fields to let you get into a trade as quickly as possible when prices are already moving. As noted above, you can easily re-enable them by modifying the trade once it has been entered.

The Trading Options Available on MetaTrader 4

• Buy Limit: for those planning to invest for the long term at a level below the market price.
• Sell Limit: for traders who want to go short at a level above the market price.
• Buy Stop: for long-term traders who want to invest at a level above the market price.
• Sell Stop: this option is reserved for traders who expect to go short at a level below the market price.

How to Modify an Order on MetaTrader 4?

To modify an order on MT4 automated trading, you must first click the « Trade » button. This opens a new window that presents you with the following:

• All your transactions;
• Entry prices;
• Position sizes;
• Stop losses; and
• Profit targets.

To modify the order or add a stop loss/take profit, you must select the order you want to change. Then right-click on the order you want to modify or delete. After that, fill in the Stop Loss and Take Profit parameter fields with the level that suits you. Finally, click the « Modify » button, which brings up a new window confirming that your adjustments have been executed.

After opening a position, if you want to close it, right-click on the trade you want to close. A drop-down menu then appears: click the « Close Order » button and the trade is closed immediately. Likewise, the yellow button located below the Buy and Sell options lets you close all of your positions. If you want to close your entire position, select the yellow button under the Buy and Sell options.

Calculating Position Size on MT4: Example

On MT4, volume is expressed in lots: 1 lot = 100,000 units of the base currency, 0.10 lot = 10,000 units (mini-lot) and 0.01 lot = 1,000 units (micro-lot). On EUR/USD, 1 pip is worth about $10 for 1 lot, $1 for 0.10 lot and $0.10 for 0.01 lot.

With €1,000 in capital and a risk of 1% per trade (€10), a 20-pip stop loss therefore corresponds to a position of around 0.05 lot. Always run this calculation before opening a position.

Which Broker Should You Choose to Trade on MT4?

MetaTrader 4 is free software, but on its own it does not give access to the markets: it is your broker that provides the server, the prices, the execution and the account into which you deposit your funds. Your broker’s conditions (spreads, commissions, instruments) therefore determine your true cost. To trade on MT4, our recommended broker is Vantage (information taken from its official website, consulted on October 2, 2026):

• More than 1,000 CFDs: over 40 currency pairs, indices, gold and silver, oil and gas, agricultural commodities, US, European, UK and Australian shares, ETFs and bonds.
• Platforms: MetaTrader 4, MetaTrader 5, TradingView, the Vantage app and Vantage Web Trading in the browser.
• Costs: spreads from 0.0 pips on ECN accounts, or a Standard STP account with no commission; no deposit fees charged by Vantage.
• Accessibility: $50 minimum deposit and positions from 0.01 lot.
• Demo account credited with 100,000 USD in virtual funds for practising.
• Tools: copy trading, Expert Advisors (robots), Forex VPS, an economic calendar and market analysis.
• Support in several languages, 24/7.

The demo account lets you download MT4, log in to the demo server and test everything described in this guide without risk. To find out more, read our full Vantage review.

If you would like more timeframes and pending orders, Vantage also offers MetaTrader 5, and you can trade from the TradingView charts.

How to Deposit / Withdraw Funds on an MT4 Trading Account?

The MetaTrader 4 platform has no deposit or withdrawal function: these operations are carried out from your broker’s client area. At Vantage, you fund your account from the client area (Vantage does not charge deposit fees, although other fees may apply depending on the payment method), and the balance then appears in the « Terminal » tab of MT4. To withdraw your winnings, the request is also made from the client area.

Before a withdrawal, close the positions concerned or check that the remaining margin is sufficient: withdrawing funds with open positions can move your account closer to a margin call.

Mistakes to Avoid on MT4

• Forgetting the stop loss: set it as soon as the position is opened, or immediately afterwards.
• Confusing lots and units: 1 lot = 100,000 units; always check the « Volume » field.
• Running an EA without testing it: test your robots in the strategy tester and then on a demo account before going live.
• Ignoring swaps: a position held for several nights generates financing costs.

Read also: Stock Market Momentum

Conclusion

MetaTrader 4 remains the benchmark platform for trading Forex and CFDs: simple, customisable and compatible with thousands of indicators and robots. To use it, you need a compatible broker; our choice is Vantage, which gives access to MT4, MT5 and TradingView with a $50 minimum deposit.

Start with a demo account to master orders, lot calculation and stop loss management, then move to a live account with small positions of 0.01 lot.

To go further, discover our guide to the MT4 broker and our comparison of Forex trading platforms.

This article is intended for educational purposes only and does not constitute investment advice. Leveraged trading carries a high risk of losing your capital.