How to open a MetaTrader 4 account & sign up: All account types
Table of Contents
MetaTrader 4 trading platform offers several benefits to traders. They can make the most out of trading when using this trading platform. Trading on MetaTrader 4 requires traders to choose one of the MetaTrader 4 accounts. The kind of MetaTrader accounts that traders use depends on what their broker offers them.
Mostly, brokers offer traders several kinds of MetaTrader 4 accounts. The description of the best MetaTrader accounts will allow you to pick one. In this article, we are going to take a look at the different MT4 account types that exist. Besides, we will go through the process of how to open a real account with MetaTrader 4 and what you should consider when doing so. Have fun reading!
(Risk warning: Your capital can be at risk)
How to sign up for an account on MetaTrader 4
Opening a real trading account on the MetaTrader 4 broker platform allows traders to use a few steps.
#1 Signup with a broker
The trader must look for a broker who offers you a MetaTrader 4 trading platform. This platform is supported by almost all brokers who are world leaders in extending trading services.
The broker’s trading platform will present you with a ‘signup’ option. Traders desirous of using the MetaTrader 4 accounts with respective brokers can click on this option. The broker will then prompt you to enter your details. After you enter, you can click on submit.
Good to know!
While choosing a MetaTrader 4 broker, a trader must consider whether it is regulated. Choosing only a regulated broker will benefit a trader. Besides, his broker should also have efficient customer support.
Our tip, sign up with the best MetaTrader brokers and start trading with low spreads & commissions:
MetaTrader Broker: | Review | Regulation: | SPREADS & ASSETS: | Advantages: | Free account: |
|---|---|---|---|---|---|
1. Vantage Markets  | Regulated by CIMA, ASIC | From 0.0 pips spread + $ 2 commission per 1 lot trade 800 markets+ | # High leverage up to 1:500 # High liquidity # No requotes # MT4/MT5 # Spreads from 0.0 pips # Paypal & crypto payments | Live account from $ 200 (Risk warning: Your capital can be at risk) | |
2. RoboForex  | Regulated by the IFSC | From 0.0 pips spread + $ 4 commission per 1 lot trade 16.000 Markets | # Multilingual 24/7 customer support # Leverage up to 1:2000 # Award-winning broker # Free bonuses # MT4/MT5 # Spreads from 0.0 | Live account from $ 10 (Risk warning: 72.87% of CFD accounts lose money) | |
3. IC Markets  | Regulated by the ASIC, FSA & CySEC | From 0.0 pips spread + $ 3 commission per 1 lot trade 2,000 markets+ | # Free demo account # Spreads from 0.0 pips # Low commission # Real raw-spread trading # Big liquidity providers | Live account from $ 200 (Risk warning: Your capital can be at risk) |
(5 / 5)
(4.8 / 5)#2 Download the MetaTrader 4 trading platform
Now, a trader must download the MetaTrader 4 trading platform. They can download it from the MetaTrader 4 trading platform’s website. Or, they can visit the PlayStore or App Store. Before downloading the MetaTrader 4 trading platform on your phone, you must ensure that your device supports it.
After downloading it, a trader can enter the login credentials with which he signed up with his broker. Then, a trader can access MetaTrader 4 as it is.
#3 Fund your account
Finally, your broker will ask you to fund your trading account. You can fund your MetaTrader 4 trading account using the payment methods that the brokers offer you. As mentioned, brokers will offer you different minimum deposit amounts. Mostly, the MetaTrader 4 minimum deposit amount begins at 100 USD.
Traders can use the payment modes that their broker allows. These include:
- Bank transfers
- Cryptocurrency
- Electronic wallets
- Debit and credit cards
Thus, funding your MetaTrader 4 accounts is the last step in using this trading platform. Hereafter, a trader can place trades on MetaTrader 4. The platform offers traders access to hundreds of underlying assets. You can pick a good asset on MetaTrader 4, conduct a technical analysis using the customized features and place your trade.
(Risk warning: Your capital can be at risk)
Under which operating systems can you open a real account on MetaTrader 4?
Knowing whether your operating system supports MetaTrader 4 trading platform is essential. A trader will use the MetaTrader 4 trading platform only if it is compatible with the features of his device.
Mostly, traders can use the MetaTrader 4 trading platform on almost all devices today. The devices in the modern world come equipped with all technology that supports this trading platform. However, if a trader uses outdated technology to trade on MetaTrader 4, he might find it troublesome.
Usually, MetaTrader 4 works just fine on the following devices:
- Windows
- MAC
- iOS
- Android
- Linux
Good to know!
Even if a trader uses these devices, he must ensure that his device can run the platform efficiently. So, the device’s RAM must be of high capacity so that the MetaTrader 4 platform does not lag and works smoothly.
MetaTrader 4 account types explained
Usually, brokers allow traders to choose one of the two available MetaTrader accounts. Traders can choose the kind of MetaTrader 4 trading platform they want to use, depending on their trading experience.
Good to know!
The cost of the MetaTrader 4 account type can vary according to the broker’s stipulations. Some brokers might offer you free MetaTrader 4 accounts. On the flip side, some brokers might charge you.
MetaTrader 4 demo accounts
MetaTrader 4 has a demo account that it offers traders. However, a trader must first choose a broker to use the MetaTrader 4 demo accounts. A broker will allow you to access the demo account for MetaTrader 4 within a few steps.
Good to know!
Testing the MetaTrader 4 trading platform with the help of a demo account is the best thing for a trader. It is especially crucial for traders who do not know the trading basics. MetaTrader 4 accounts for demo trading allow you to use the platform for free.
When a trader uses the MetaTrader 4 demo account, the broker offers him some virtual funds in his trading account. Traders can use the demo account to judge the platform. They can even learn to trade and gather a first-hand trading experience with the demo account.
The features of MetaTrader 4 accounts for demo testing are as follows:
Features of MetaTrader 4 demo accounts
- Traders can experience trading on MetaTrader 4 without funding their accounts with real funds.
- Brokers with which you sign up for a MetaTrader 4 demo account allow you to access virtual currency of up to 100,000 USD.
- You can place trades through your MetaTrader 4 demo accounts using these funds. Since no real losses accrue for a trader, they can enjoy trading fearlessly.
- MetaTrader 4 demo accounts also allow you to test the trading strategies available.
- The features of tool customization, as available on the MetaTrader 4 demo accounts, are also similar to the demo account.
- Traders can build their trading strategies on the MetaTrader demo accounts. They can enjoy learning the art of fund and risk management without risking their investments.
So, MetaTrader 4 accounts for demo testing are extremely important for any trader. This account type allows traders to make the best of their trading experience without risking their funds. Besides, signing up for a MetaTrader 4 demo account is very easy.
(Risk warning: Your capital can be at risk)
MetaTrader 4 real accounts
MetaTrader 4 real accounts are another account types that traders can use. This account type is opposite to the demo account. However, the difference is only one. The demo account gets funded by your broker with virtual funds. On the other hand, the real account involves using actual money.
Good to know!
Thus, traders who sign up for MetaTrader 4 accounts for real trading must fund their trading accounts themselves. Trading on the MetaTrader 4 real account involves making real profits and losses. So, a trader must be very cautious while using MetaTrader 4 real trading.
The features on both demo and real MetaTrader 4 accounts are the same. Traders can similarly place trades. Besides, they can enjoy trading with customized indicators and tools.
Features of MetaTrader 4 real accounts
Some features of the MetaTrader 4 accounts for real trading are as follows.
- Traders can enjoy trading on the MetaTrader 4 real account as they can fetch real profits. However, losses accrue if traders do not consider their trading strategies.
- The real account requires traders to fund their trading accounts themselves.
- Traders must fund the real trading account with the minimum Metatrader 4 deposit amount. Each broker might have different minimum deposit requirements to use the trading platforms.
- Traders can customize the trading indicators on the MetaTrader 4 trading platforms when they conduct technical analysis.
- They can use the trading charts and customize them on the real trading account.
So, a MetaTrader 4 account for real trading presents many opportunities to traders. However, while using this trading platform, a trader must ensure that he performs a proper analysis.
If he skips proper technical analysis, his trades might suffer losses. MetaTrader 4 allows traders to use all the tools for a sound technical analysis. So, traders must use them.
How many accounts can you have on MetaTrader 4?
Traders often wonder about the MetaTrader 4 accounts they can have. Well, the number of MetaTrader 4 accounts depends on the number of brokers you sign up with.
For instance, a trader might wish to trade on one or more trading platforms. Then, he signs up for a MetaTrader 4 trading account with that broker. A trader can download the MetaTrader 4 trading platform and add his broker account. If he wishes to trade with another broker, he can delete this trading account and add another broker.
However, a trader can use only one MetaTrader 4 trading account at once. He would have to delete his broker and add another to use a different account.
Good to know!
Apart from this, you can have demos and real accounts on the MetaTrader 4 trading platform. But, as mentioned, a trader can use only one at a time. You must switch from the demo trading account to the live account to trade.
(Risk warning: Your capital can be at risk)
Advantages and disadvantages of a real MT4 account
When a trader considers MetaTrader 4 to open a live account, he might also wonder about the MetaTrader 4 advantages and disadvantages. The good thing about MT4 is that it has more advantages than disadvantages.
However, there is a difference when we consider demo and live MetaTrader 4 accounts. The demo account has very limited disadvantages. For instance, there is no fear of losing funds while trading on a demo account. The contrary happens on a live trading account.
So, let’s explore MetaTrader 4 live account advantages and disadvantages.
Advantages
- The greatest of all MetaTrader 4 live account advantages is that it is easy to open. The process brokers have to sign up for a live trading account is very straightforward.
- A trader can enjoy the up-to-date trading facilities on the MetaTrader 4 trading platform. Their live trading accounts on the MetaTrader 4 platforms can help them initiate trades after expert technical analysis.
- MetaTrader 4 accounts for live trading allow traders to place trades quickly. The order execution on the MetaTrader 4 trading platform is very quick. So, a trader doesn’t miss out on any important traders.
- A live trading account for MetaTrader 4 allows traders to make more money. They can earn enough profits once they conduct a proper technical analysis.
- MetaTrader 4 accounts for real trading allow you to make instant transactions. You can earn real profits on your MetaTrader 4 real trading account. Besides, withdrawing the profits as per your preferred method is easy.
- You can control your real trades according to your choice. If you choose the right settings, you can access warning signals. Automated trading is also possible on the MetaTrader 4 trading accounts.
Besides advantages, several disadvantages come with trading on MetaTrader 4 trading account.
Disadvantages
- MetaTrader 4 accounts for real trading do not allow you to create personal relationships with the broker.
- Since a trader places real trades on this trading platform, real losses and profits accrue. So, if a trader wants to minimize the possibility of losses, he should conduct a proper technical analysis.
- Once a loss accrues on any trade, it is difficult to reverse your trading decision.
- Traders who are beginners might need some help to get started with MetaTrader 4 accounts for real trading.
- Real trading accounts require traders to make high minimum deposits. It is opposite to what the demo accounts offer.
- Withdrawing funds from your MetaTrader 4 trading accounts requires time. The duration depends on brokers and can vary. However, a trader usually must wait for his trade to settle so the broker can process his withdrawal. Withdrawals take a minimum of 24 hours to process. Besides, the duration in which you receive funds can vary.
Conclusion – MetaTrader accounts offer immense opportunities
So, MetaTrader 4 accounts for real trading are what a trader needs for the best trading experience. This trading account seeks to fulfill the user’s needs for automated trading. Besides, MetaTrader 4 offers immense trading opportunities to traders. So, it is best to choose the MetaTrader 4 trading accounts if you wish to improve your trading journey. A trader can begin trading as soon as he signs up with a reliable broker offering him this platform.
(Risk warning: Your capital can be at risk)
Frequently asked questions about the MetaTrader 4:
What is a MetaTrader 4 account?
A MetaTrader 4 trading account is an account that a trader can use for automated trading. This trading account allows traders to use the platform and access its remarkable features. MetaTrader 4 trading accounts make all the underlying assets, trading tools, and indicators available for traders.
How do I create an MT4 account?
Traders can create MetaTrader 4 accounts for real trading very easily. They need to pick an MT4 broker and follow the signup process. Then, after traders download the MT4 trading app, they can initiate trading.
Can I have two MetaTrader 4 accounts?
Traders can use only one MT4 trading account at a time. However, they can have more than one if they sign up with two or more brokers. You can use the trading account with your respective broker by logging in using the credentials. If you wish to choose another broker, you can delete or log out from this broker on MT4.
How many accounts can you have on MetaTrader 4?
You can have any number of MT4 trading accounts. It depends upon the number of brokers with which you sign up.
Can I use my MT4 account in MT5?
Your broker will offer you the login credentials for the MT4 platform as you choose that particular platform while signing up. However, if you want to use MT5, you will have to switch your preference to MT5 on your brokerage account. There is no way for a trader to use the MT4 account in MT5.
Can I use both MT4 and MT5?
Yes, you can use MT4 and MT5, depending on what you sign up for with your broker.
