“MetaTrader and Metaquotes

 > Explanatory Article by Marios Kyriakou, MSc Economics


About the author: Marios Kyriakou has a bachelor’s degree in Economics from the University of Cyprus and a master’s degree in Economics from the University of Warwick. He is also a holder of CySEC’s Advanced Certificate in Financial Services Legal Framework and a professional in Online Trading, Forex and CFDs with more than 7 years of experience.

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<Last updated 16.04.2020>

Dear reader,

Hi! If you are interested in Forex please read carefully the below article that presents famous technology providers and platforms used for trading online.

 

Established in 2000, MetaQuotes Software Corp. > MetaQuotes is a leading developer of financial trading software and is the creator of the Metatrader platforms. Millions of traders and hundreds of brokers chose MetaTrader 4 and now 5  for trading Forex and financial markets.

The release of the  MetaTrader 4 platform took place in 2005. This was a platform with an improved designed architecture and at the same time it introduced the MQL4 programming language. MetaTrader 4 features revolutionary tools for the development, testing, and optimization of trading robots (Expert Advisers). It was this fourth-generation platform that made algorithmic trading available to the large number of traders from all over the world.

MetaTrader 4 became the de facto standard in Forex trading and provided millions of traders with a reliable working tool.

 

 

MetaQuotes made a breakthrough by releasing the MetaTrader 5 multi-asset trading software system in 2010. The new platform allows trading Forex symbols, stock instruments and futures. MetaTrader 5 features all the latest developments, it is faster, more functional, more reliable and more convenient than previous-generation platforms.

 

Example of Online Trading Platform and Usage:

MetaTrader 4 Client Terminal and Online Trading is installed on the trader’s computer and intended for:

-Receiving quotes and news in the online mode.

-Performing trade operations.

-Controlling and managing open positions and pending orders;

-Conducting technical analysis;

-Writing expert advisors, custom indicators, scripts, and functions in MetaQuotes Language 4 (MQL4);

-Testing and optimizing trading strategies.

 

MT4 Client Terminal – Basics

 

Authorization / Access to the Account

Authorization is connection of terminal to the server through a login and a password. It allows managing a trading account.

Two accesses to the account are possible in the terminal: a normal password and an investor password.

> Standard/Master authorization: one gets full rights for working with the terminal.

> Investor authorization allows you to see the account status, analyse prices, and work with your own Expert Advisors, but not trade.

NOTE: Automated trading by Expert Advisors is not allowed either.

User Interface

1) Main Menu: The main menu of the terminal is located under the program heading and represents a set of sub-menus.

a)File: Working with charts, storing of history data and profiles, and print.

New Chart — open a new chart window for the symbol.

Open Deleted — restore a deleted chart.

Profiles — open sub-menu for managing profiles.

Open Data Folder — open the folder, there the client terminal stores its data.

Open an Account — open a new demo account.

Login to Trade Account —authorize. At this command execution the terminal tries to connect to the server using the account selected.

 

Status Bar — enable/disable status bar located in the lower part of the terminal window. This data bar contains (from left to right): menu managing profiles, time and prices (OHLC) of the bar selected, and indicator of server connection and amounts of incoming/outgoing traffic.

Charts Bar — enable/disable the chart window names (tabs) bar located in the lower part of the workspace. Using this bar, one can switch among open charts fast.

User Interface (continued)

Market Watch — The securities (symbols) for which the Client Terminal gets quotes (Pricing + Volume) from the server are listed in the “Market Watch” window.

Terminal – This window allows to control over trading activities, view news and account history, set up alerts, and work with the internal mail and system journal.

Terminal – Basic Tabs

Terminal” is a multi-functional window allowing to access to various terminal features. This window allows to control over trading activities, view news and account history, set up alerts, and work with the internal mail and system journal.

a) Trade

The “Trade” tab contains information about the current status of the trading account, about open positions and pending orders placed.

b) Account History

Information about all trade operations performed is stored in the “Account History” tab.

c) News: The list of income news is stored in the “News” tab.

d) Signals: This tab contains information about created alerts. Signals service allows anyone to become a provider and sell trading signals or subscribe to them and follow the strategy of an experienced trader.

e) Mailbox

It is in this window of the “Terminal” where all electronic  messages that income to the terminal are stored.

f) Journal The “Journal” tab contains information about the stated actions of the trader and the client terminal within the current session.


 

“I hope I am clear on this one. If not, contact us on social media and we will do our best to help you.

Thank you for reading my articles and watching my videos.”

Marios Kyriakou

Disclaimer: This article is intended for educational purposes only and does not replace independent professional judgement. Its purpose is to act as a complementary educational service to society, promoting personal development and social, economic and cultural progress of citizens. While this content has been prepared in good faith, no representation or warranty, express or implied, is or will be made and no responsibility or liability is or will be accepted by the creator to the accuracy or completeness of the information presented or any other written or oral information made available to any interested party and any such liability is expressly disclaimed.
Risk Warning: Trading in Forex and Contracts for Difference (CFDs), which are leveraged products involves substantial risk of loss as there is considerable exposure to risk in any off-exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of the markets that you are trading. You should carefully consider your investment objectives, level of experience and risk appetite before making a decision to trade with us. Most importantly, do not invest money you cannot afford to lose. It is possible to lose all the initial capital invested.

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