How to use the MetaTrader4 platform: Basic configuration and navigation

MetaTrader 4 (MT4) is a trading platform developed by MetaQuotes in 2005. While most associated with Forex trading, MetaTrader 4 can be used to trade many other markets including indices, cryptocurrencies, and commodities in the form of CFDs. Today, we will show you how to configure MT4.


In this video, we will show you:

  • How to choose the language of the platform
  • How to navigate the most important MT4 tabs
  • How to set up instrument charts.

How to navigate in MT4

MT4 owes its popularity primarily to its simplicity and ease of use. Even the lack of knowledge of foreign languages will not be a problem, because the platform settings allow you to choose one of almost 40 available languages, including the Polish version. MetaTrader 4 does not impose on its users one pattern of using the platform, depending on your preferences you can add, reduce or increase the selected window. One of the most important windows on the platform that will allow you to monitor your account status is "Terminal", which is located at the bottom of the screen by default. "Trade" shows you all the information about your current trading account: balance, equity, and margin along with a list of open and pending orders that you can close, delete or modify. In the other tabs, you will find, among others account history, news and alerts.


How to configure MT4

Most traders use several accounts, either running or testing different strategies on separate accounts. Thanks to MT4, you can move between them within one platform, this function is enabled by the "Navigator" tab. Additionally, you will find a list of indicators, scripts, and expert advisors. The heart of the trading platform is obviously the charts. In this case, the creators of MT4 did everything to make trading extremely convenient for the users of the platform - the view, color, chart type can be freely edited.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.60 % of retail investors lose their capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.