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MT4 guide

Installing MT4 on your PC

Intro to WITOP FX’ MT4

Congratulations and thank you for choosing WITOP FX’ Metatrader 4. Combining WITOP FX with Metatrader 4 will allow you to benefit from:

  1. No Dealing Desk Execution

  2. No Requotes

  3. 100% Straight Through Processing

  4. Regulated Standards

  5. Funds Secure in Segregated Client Accounts

  6. Leverage up to 500:1

  7. Award-winning Execution Speeds

  8. Competitive spreads from 0.0 pips

  9. 24/5 Premium Customer Support

Metatrader 4 for PC is an easy and flexible online trading system for managing Forex trades and strategies. The WITOP FX version of the MT4 platform provides a wide array of market analysis tools, such as Expert Advisors, that can be used to gain insight into the patterns of the global foreign exchange markets, without the requirement of constantly scanning the market manually. Coupled with our highly competitive pricing, forex traders are able to develop and implement strategies with minimal ongoing effort.

Before using MT4:

It is advised that traders should gain a basic understanding of the Forex market and trading fundamentals. For those new to trading, WITOP FX provides many educational tools and learning resources on both the Education and Forex News sections of our website.

It is important to trial out a demo account, if you are new to online trading and/or Metatrader 4. It will be a useful opportunity to familiarise yourself with the platform and to learn the skills and risks of trading. The demo account is a free 30 day trial $50,000 account and a full version mirror of the live trading environment.

All traders are advised to consider and read the Financial Services Guide and Product Disclosure Statement, provided at Legal document page on our website.

MT4 Installation

Getting Started

  1. Download the WITOP FX MetaTrader 4 (MT4) software

  2. Run the exe file and select ‘Run’ when the dialogue box appears

  3. Select ‘Yes” when asked if you want to allow the program to make changes

  4. Click ‘I Agree’ upon finishing reading the License Agreement

  5. If you would like to set a custom install folder select ‘Settings’ before proceeding

  6. Click ‘Next’ and proceed through the VTMarkets MT4 Setup

  7. The installer will now download the latest version of MT4, once this is complete, click ‘Finish’

Upgrade your MT4 terminal

WITOP FX have expanded the capabilities of MT4 by adding new and exciting features, including:

  1. Trading Central Tools package

  2. Economic calendar

  3. Account management facilities

  4. Forex News Terminal

A few little tips & tricks to get more from MT4

If you’re a forex trader you’ll know that MetaTrader 4 is the king of Forex trading platforms. Not only does it allow you to place and manage orders, undertake various technical analysis functions and auto trade, it also allows you to do plenty of not-so-well-known things. Let’s talk about a few.

First, the ruler tool. This is super handy when measuring this distance (in pips) between two points… ie stop loss and entry, etc. So how do you get this tool? Simple, click on the cross hair, or press Ctrl+F and click and drag between two points. You’ll find all sorts of handy info such as pip-distance, the number of bars in a range and the date. Not bad!

Secondly, if there are some indicators, scripts or EAs that you frequently use, why not make it easier to access them. Simply right-click on the item of your choosing and select ‘Add to favourites’. Now that was simple!

When it comes to becoming a better trader, it is super beneficial to go back over previous trades to see what you did right or wrong. So for a deeper look into your closed trades in MT4, pop on over to ‘Account History’ in the terminal. Just click on a closed position, drag it on to the chart in which you placed the trade, and presto, you’ll see the entry, target, exit mark data as well as the stop less, etc. This is great to see how you can improve on your market timing, stop losses and profit targets, as well as further refining your setups.

Use a customised template that you’ve created and are sick of always switching to it when you open a new chart? Well, here’s one for you. Set up your template to exactly how you like it, right click and choose ‘Template – Save Template’, and save it as ‘Default’. Now, every time you open a new chart it will automatically have your template as the MetaTrader 4 default.

I personally find it helpful to write notes on charts so that when I’m reviewing my trades I can go back to exactly why I took the trade, emotions, thoughts, things I notice about the market, etc. To do this, head up to the Insert menu and choose ‘Insert Text’ and you can enter whatever you want. And, you can use multiple text boxes.

There you go, I hope these few little not-so-well-known tips and tricks make your MT4 life just a little bit faster and easier.