Forex trading is getting popular every single day and the number of retail traders is increasing at an exponential rate in the forex market. The rising popularity of the forex trading lies behind it potential freedom from the financial crisis. If you can truly master the art of forex trading then there is high chance that you will never worry about your financial needs. But in order to trade the financial assets in the forex market, we need a trading platform to trade. The Metatrader trading platform has owned the heart of the most of the professional traders due to its extreme reliability and ease of use. In this article, we will learn how to setup the mt4 platform in any device from the scratch.
Step 1: Download Your Trading Platform
There are many ways of downloading the mt4 trading platform to your digital device. But the best way is to use your broker link to download the application.exe file to your system. Most of the broker have their trading platform download link in the platform tab or trading account section in their website. Once you find the download button on the website just download it and it will take less than a minute. However, the download time may vary from user to user depending on the speed of the internet connection.
Step 2: Install It
Once you have the application package downloaded into your system just double click the mt4 trading platform setup exe file and new prompt up window should appear in your window. For better understanding let’s see the graphical illustration of the installation procedure. Once you click the mt4setup file a new window will appear and ask for further permission to process with the installation procedure. You should click the YES button in order to proceed to the next step.
Step 3: Accepting the License Agreement Form
In the second stage, you will have a similar window like the above one no matter which broker you trade with and to enjoy the facility of Metatrader 4 platform you need to check the Radio button which states that you agree to terms and conditions of the mt4 platform. If you are relatively new in this industry then you can check their license agreement details but trust me there is nothing to read and as a trader, you can check the radio button. Once you click the radio button you will see that the settings and next tab are available for you which was previously disabled. Keep the settings in the default format and hit the next button to proceed to the last stage of the installation procedure.
Step 4: Completion of the Installation Procedure
Once you agree on the license agreement form then the setup file will take the responsibility from you and complete the rest of the installation procedure. Once everything is done you will have a dialogue box just like the above one. After getting the dialogue box hit the finish button and your mt4 platform is ready for your use.
Step 5: Setting Up the Account
Most of the brokers offer many different types of account to the traders. So when you open a trading account with your broker you will be provided with an account number and password via email. Most of the time the email subject is kept login details for your trading account. So all you need to do is just open your mt4 platform and login into the platform. Let’s see the graphical illustration for better understanding. Once you open your trading account hover your mouse pointer to the left topmost corner side of your trading platform and there you will see a file tab. Click the file tab and similar window like the above one will appear for you which will give you the access window for your trading account.
Step 6: Synchronizing Your Account With the Mt4 Platform
So if you have your account details then you can easily use the existing trade account from the above window section and once you select this hit the next button. A new window should appear intent of you where you will be asked to state your account number and password. After you input the login credentials perfectly you will be able to execute your trade in the market flawlessly.
If you don’t have any login credentials then you can create a new demo trading account or live trading account based on your trading purpose. If you are relatively new in forex trading then you should consider trading the demo account for at least 3 months since it will greatly help you to enhance your trading performance.
Step 7: Multiple Accounts
You can use multiple trading account in the same mt4 platform and all you need to do is to give the login credentials into your trading platform. You can either save your passwords so that you can easily access different trading account in future in a short period of time or chose manual input system for every single time for switching the account.
Step 8: Summary
The Mt4 trading platform is considered to be one of the best trading platforms in the forex industry. If you truly want to become a professional trader then it’s very imperative that you know every detail of this trading platform. It comes with powerful trading tools and it’s very easy to use. You need just a few minutes to install your trading platform which will give you the full access to the financial world.