MetaTrader 4 (MT4) is a desktop platform for placing trades, managing orders, and analyzing markets. Ensure you have your trading account login and server details ready before installation.
How to install MT4
Download MT4 and run the installer. Accept prompts and close the demo account
On Login to an existing account, search Weltrade.
Select the correct server.
Enter account number and password.
Sign In.
How to log in
Log in
File → Login to Trade Account.
Enter Login, Password, Server → Login.
Successful login plays a confirmation sound.
Switch account
File → Login to Trade Account.
Enter another account’s details → OK.
Tick Save account information for faster switching.
How to add and remove instruments
Add trading symbols to Market Watch before trading.
Add
Right-click Market Watch → Symbols.
Select instrument → Close.
Remove
Right-click instrument in Market Watch → Hide.
How to open an order
Open the New Order window via:
Toolbar → New Order
F9
Right-click symbol in Market Watch → New Order
Double-click symbol in Market Watch
Market order
Select symbol, lot size, SL/TP if needed
Execution Type auto-detects based on account
Click Buy by Market or Sell by Market
Pending order
Open New Order (F9)
Select symbol and volume
Under Type, select Pending Order
Choose order type, set price and expiry
Add SL/TP if needed
Click Place
Note: Orders expiring on weekends will close at the end of the current trading week (except crypto). Follow minimum stop-level rules when placing orders.
How to close an order
Ways to close a position:
Double-click order in Trade tab → Close
Right-click order → Close Order
Click the X next to the order (instant if One-Click Trading is enabled)
How to manage an order
Modify or delete active orders via the Trade tab.
Right-click order → Modify or Delete Order
Modify: edit price, SL, TP, expiry → Modify
Delete: Delete
Frequently asked questions (FAQs)
What is MT4 and what is it used for?
What is MT4 and what is it used for?
MT4 (MetaTrader 4) is a trading platform used for trading Forex and other financial instruments. It allows traders to analyze price charts, place trades, manage open positions, and use indicators and Expert Advisors.
How do I open a trade in MT4?
How do I open a trade in MT4?
To open a trade, select a trading instrument, choose New Order, set the volume, and click Buy or Sell. The trade will appear in the Terminal window under open positions.
What order types are available in MT4?
What order types are available in MT4?
MT4 supports Market orders and Pending orders. Pending orders include Buy Limit, Sell Limit, Buy Stop, and Sell Stop, allowing trades to be opened automatically at a specified price.
How do I set Stop Loss and Take Profit in MT4?
How do I set Stop Loss and Take Profit in MT4?
Stop Loss and Take Profit can be set when opening a trade or added later by modifying an existing position. These tools help manage risk and lock in profits automatically.
How can I close a trade in MT4?
How can I close a trade in MT4?
You can close a trade by clicking Close next to the open position in the Terminal window or by right-clicking the trade and selecting Close Order.
Can I trade on MT4 using indicators?
Can I trade on MT4 using indicators?
Yes, MT4 includes built-in technical indicators and supports custom indicators. Indicators help analyze market trends, momentum, and potential entry or exit points.
Is MT4 suitable for beginners?
Is MT4 suitable for beginners?
Yes. MT4 is widely used by beginners due to its intuitive interface, charting tools, and large number of educational resources and tutorials.