MetaTrader 4 (MT4) is free trading software, not a brokerage account. Download it from MetaQuotes’ official page or from your broker’s official MT4 page, then connect it to a demo or live account supplied by that broker. For a beginner, the safest sequence is: install MT4, open a demo account, select the exact broker server, verify that quotes update, and practice a simulated trade before depositing money.
MetaQuotes currently lists MT4 access for Windows, macOS, Linux, iPhone/iPad, Android, Huawei and the web. Availability, instruments, pricing and account features still depend on the broker and your country. Check the official MT4 download page before installing.
What is MetaTrader 4?
MT4 is a client terminal that connects to a broker’s trading server. It receives broker-provided quotes and news, displays charts, applies indicators, sends orders, manages positions and pending orders, and runs Expert Advisors (EAs), indicators and scripts. Its desktop tools also support testing and optimizing MQL4 strategies.
MetaQuotes develops the software but does not provide brokerage or investment services. A real account, prices, execution, deposits, withdrawals, leverage and regulation come from a broker. The distinction matters:
| Component | Role |
|---|---|
| MetaTrader 4 | Trading software and interface |
| MetaQuotes | Platform developer, not your broker |
| Broker | Provides the account, pricing, execution, funding and regulatory entity |
| Broker server | Connects MT4 to that broker’s infrastructure |
| Demo account | Virtual-money practice account |
| Live account | Real-money account governed by broker terms and risk |
See MetaQuotes’ official terminal guide and its statement that the company does not offer brokerage services at metatrader4.com.
Is MT4 free?
The MT4 download and a demo account are generally free. Live trading is not cost-free. Depending on the broker and account, you may pay or incur:
- Bid-ask spreads
- Per-trade commissions
- Overnight financing or swap charges
- Currency-conversion, deposit, withdrawal or inactivity fees
- Optional data, tools or VPS charges
- Trading losses
For example, OANDA’s US pricing page describes spread-only pricing and other possible charges; its examples are specific to OANDA, its US entity and the date shown, not universal MT4 costs. Review OANDA’s current pricing.
Where to download MT4 safely
- Start at the official MetaTrader 4 download page.
- If you have chosen a broker, check that broker’s official MT4 page. Its installer may already contain the correct server list.
- For mobile, use the official Apple, Google or Huawei store listing reached from MetaQuotes or your broker.
The MetaQuotes page also prominently advertises MT5. Before downloading, verify that the product name says MetaTrader 4, not MetaTrader 5.
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Supported devices and requirements
| Device or access method | What the current official information says | Important limitation |
|---|---|---|
| Windows | Windows 10 and Windows 11 are identified on the current help page. | CPU and memory needs rise with charts, symbols and MQL4 applications. |
| macOS | Big Sur 11 minimum on the current guide; Apple processors from M1 through the latest released processors are listed as supported. | The official installer uses Wine rather than a native Windows executable. |
| Linux | Linux is listed among download options. | Results vary by distribution and compatibility setup. |
| iPhone/iPad | Mobile app with quotes, charts, indicators, analytical objects, news and account access. | It is intended primarily for monitoring and manual trading, not desktop automation. |
| Android | Android access is listed, including an APK route. | Use only an official MetaQuotes or broker source for any APK. |
| Web terminal | Browser access for Windows, Mac and Linux without installing desktop software. | Broker web implementations may omit EAs and advanced desktop functions. |
Sources: desktop requirements, macOS guide, web trading and the download page. IG, for example, says its web terminal has fewer features than desktop MT4 and does not support automated trading or EAs: IG’s explanation.
How to install MT4 on Windows
- Open the official MT4 page or your broker’s official MT4 page.
- Confirm the installer is for MetaTrader 4.
- Download and open the Windows installer.
- Review the license terms and follow the prompts.
- Let installation finish, then launch MT4 from the Start menu or desktop shortcut.
- Close any initial promotional or account-opening prompt if you are not ready to register.
The official help says installation creates a Start-menu group and may create a desktop shortcut. On first launch you should see areas such as Market Watch, Navigator, charts, Toolbox/Terminal and connection status. Layout and labels can differ by build, broker branding and customization.
How to install MT4 on macOS
- Download the current Mac installer from MetaQuotes or your broker.
- Open it and follow the wizard.
- Approve Mono and Gecko packages if the installer requests them.
- Launch MT4 from Applications and allow first-run updates to complete.
- Select a broker server or proceed to demo-account registration.
MetaQuotes says its installer identifies your system, downloads and configures Wine, and installs MT4. The default Wine-based data path shown in the guide is ~/Library/Application Support/net.metaquotes.wine.metatrader4/drive_c/Program Files/MetaTrader 4; broker packages or older installations may use another path.
Mac recovery if an old installation fails
Back up templates, EAs, indicators and other custom files before removing an old application or Wine prefix. MetaQuotes identifies possible folders including ~/Library/Application Support/Metatrader 4 and ~/Library/Application Support/net.metaquotes.wine.metatrader4. Do not delete either before copying files you need. See the official Mac recovery guidance.
How to open an MT4 demo account
In the desktop terminal, use File → Open an Account. The same function may be available from Navigator → Accounts or offered on first launch.
- Open File → Open an Account.
- Search for or select a broker server. When several valid servers appear, compare their ping information; lower ping may indicate a shorter network path, but it does not guarantee better execution.
- Choose New demo account.
- Enter the requested details and select account type, deposit, currency and leverage where offered.
- Submit the form.
- Record the account number, trading password, investor password and exact server name.
- Confirm the account appears under Navigator → Accounts.
MetaQuotes describes a demo as a virtual-money environment with functionality similar to live trading. It cannot reproduce every live condition: liquidity, slippage, order rejection, execution speed, spreads and margin behavior may differ. FXCM gives similar warnings about its own demo service at FXCM’s demo page. Broker rules can also expire an account; OANDA says its US MT4 demo sub-accounts close after 90 days of inactivity, which is an OANDA-specific rule, not an MT4-wide rule. OANDA’s demo terms.
How to connect an existing demo or live account
You need four exact details:
- Account or login number
- Trading password
- Broker server name
- An MT4 terminal or broker package that supports that account
- Open MT4 and choose the broker’s exact server.
- Select the option for an existing account.
- Enter the login and trading password.
- Check that the account appears in Navigator → Accounts.
- Watch the lower-right connection indicator.
- Open Market Watch and verify that bid and ask quotes are changing.
- Open a chart and confirm that new prices arrive.
The investor password is read-only: it can show account activity but cannot place trades. A correct password still fails on the wrong server. Do not guess between similarly named demo, live, regional or retired servers; copy the exact name from the broker’s welcome email or client portal. Real accounts are opened by brokers, not by MetaQuotes or the terminal. MetaQuotes’ account guide.
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How to place your first demo trade
- Open Market Watch.
- Right-click a currency pair and choose Chart Window or New Order.
- Select a volume.
- Choose a market buy or sell, or select a pending-order type.
- Optionally enter Stop Loss and Take Profit levels.
- Review the displayed price and spread.
- Submit the order.
- Confirm it appears in the Trade tab.
- Close the simulated position from the Trade tab when finished.
Terms to understand before using real money
- Market order: an attempt to execute at the available market price.
- Pending order: activates only when its trigger condition is reached.
- Stop Loss: seeks to limit loss but cannot guarantee an exact exit during gaps or fast markets.
- Take Profit: seeks to close at a specified profit level.
- Lot size: position size that affects potential gains and losses.
- Margin: collateral requirement, not an affordable-loss limit.
- Leverage: magnifies both gains and losses.
Lot, margin, leverage, minimum trade size and execution rules vary by broker, instrument, jurisdiction and account type. This walkthrough is a simulated procedure, not a trade recommendation.
Keeping MT4 updated and managing files
MetaQuotes distributes updates through Live Update. The official page checked for this guide shows Build 1470 dated March 12, 2026; it also says versions below Build 1440 stopped being supported on July 1, 2025. Treat Build 1470 as the latest build shown on that page, not a permanent version number.
- Keep MT4 open and connected.
- Allow Live Update to run.
- Restart when prompted.
- Check the build number in Help → About.
- After a major update, test EAs, indicators, templates and broker connectivity on demo.
Broker-branded packages may update on a different schedule. For custom files, use File → Open Data Folder rather than guessing a Windows path. Since Build 600, MQL4 applications use separate directories by program type. Multiple installations should use separate directories, and two terminals should not be launched simultaneously from the same directory. See MetaQuotes’ file and installation guidance.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Common MT4 problems and fixes
“Invalid account” or login failure
- Recheck the exact server, including demo versus live.
- Confirm the credentials belong to MT4 rather than MT5.
- Use the broker portal to reset the trading password.
- Make sure you did not enter the investor password.
- Check whether the account is inactive, expired, unapproved or migrated.
- Try the broker’s current installer.
For account-specific failures, contact the broker rather than MetaQuotes.
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“No connection” or frozen quotes
- Check your internet connection and the terminal indicator.
- Confirm the exact server.
- Restart MT4 and log in again.
- Check whether the market is closed or the broker is in maintenance.
- Show the instrument through Market Watch’s symbol list.
- Update the terminal and test the broker’s web or mobile platform.
The broker is missing from the server list
Search the exact legal or brand name, use the broker’s supplied installer, or use Add New Server where supported. Ask the broker for its server address and confirm that it offers MT4 in your country.
An EA or indicator is missing
Use File → Open Data Folder, copy the file into the correct MQL4 subfolder, restart MT4 and check whether AutoTrading is enabled. A file compiled for MT5 will not simply run in MT4. Licenses, DLL permissions, broker restrictions and build compatibility can also matter. Never assume a third-party EA is safe or profitable.
MT4 is slow
Reduce open charts and symbols, remove resource-heavy indicators, review poorly coded EAs, limit historical data and close duplicate terminals. Hardware requirements depend on active instruments, charts and MQL4 applications.
MT4 versus MT5: which should you choose?
| Choose MT4 when… | Consider MT5 when… |
|---|---|
| Your broker supports MT4 but not MT5. | You want broader asset support such as stocks or futures where offered. |
| You rely on existing MQL4 EAs or indicators. | You are starting without an MQL4 dependency. |
| A required system, community or vendor is MT4-only. | You want newer charting, timeframes or platform features. |
| The broker’s MT4 account terms suit you. | The broker offers better instruments or conditions on MT5. |
MetaQuotes currently positions MT5 for forex, stocks and futures at metatrader.com, while MT4 remains strongly associated with forex. MT5 is not an automatic upgrade: MQL4 and MQL5 applications are not interchangeable without conversion or compatible versions.
Should you use a broker’s MT4 installation?
A generic MetaQuotes terminal is useful when you want a clean client and may connect multiple brokers. A broker-supplied installer may include the right server list and settings, reducing connection errors. Compare the broker—not just the software—on:
- Regulated legal entity available in your country
- Spreads, commissions, swaps and other charges
- Execution model and order protections
- Available currency pairs and other instruments
- Minimum deposits, margin and leverage rules
- Deposits, withdrawals and customer support
- Demo expiration and account-inactivity rules
For US readers, OANDA lists MT4 alongside its own platforms at OANDA’s platform page; FOREX.com provides an MT4 account page at FOREX.com; and FXCM describes its MT4 offering at FXCM. Availability, entity and terms can change, so verify them before opening an account. A broker’s MT4 feed, spreads, swaps and execution can differ materially from another broker’s.
Quick Recap
Checklist before placing a live trade
- Downloaded MT4 from MetaQuotes or the broker’s official source.
- Confirmed the product is MT4, not MT5.
- Verified the broker’s legal entity and authorization for your country.
- Opened and used a demo account.
- Recorded the correct server, login and trading password.
- Confirmed quotes update and symbols are available.
- Understood spread, commission, swap, margin and leverage charges.
- Tested a market and pending order in simulation.
- Read the broker’s risk disclosures and funding rules.
- Installed no unverified EAs, indicators or APKs.
- Accepted that leveraged forex trading can lose money rapidly.
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