MT4 FAQ – Frequently Asked Questions

MT4 (MetaTrader 4) is a popular Forex trading platform that allows users to trade currencies, commodities, and CFDs with advanced charting and analysis tools. It provides real-time market data, technical indicators, and automated trading capabilities through Expert Advisors.

Yes, MT4 is free for demo and real accounts provided by brokers like XM. The platform itself doesn't charge any fees, but your broker may have spreads and commissions for trading activities.

Go to the Download MT4 page, choose your device (Windows, Mac, Android, iOS), and follow the installation instructions. The process typically takes 5-10 minutes and requires a stable internet connection.

Open MT4, enter your account number and password, and select the server provided by your broker. Make sure you have the correct server name and your account is activated. If you're having trouble, contact your broker's support team.

Go to Insert → Indicators → Choose the indicator, then adjust settings like period, color, and style. You can also drag indicators from the Navigator window directly onto your chart. Visit our Indicators guide for detailed tutorials.

Right-click on a symbol → New Order → Choose Buy or Sell → Set lot size, Stop Loss, Take Profit → Click Send. To close or modify an order, use the Terminal → Trade tab → Right-click order → Close or Modify. Always practice on a demo account first.

Yes. Copy .ex4 or .mq4 files to the MQL4/Indicators or MQL4/Experts folder. Restart MT4 and add from Navigator. Enable "Allow Automated Trading" for EAs. Make sure to download indicators and EAs from trusted sources only.

Refresh the chart (right-click → Refresh), ensure the symbol is added in Market Watch, and check your internet connection. Also verify that the market is open and your broker's server is connected. Visit our Troubleshooting page for more solutions.

Bid is the price you can sell at, Ask is the price you can buy at. The difference is called the spread. For example, if EUR/USD shows Bid: 1.0875 and Ask: 1.0877, the spread is 2 pips. Lower spreads are generally better for traders.

Visit our Tutorials, Indicators, Market Data pages, or contact XM support directly. You can also join our community forums or watch video tutorials on our YouTube channel for additional help.