The ChoosaBroker Trading Academy
14.6. The MT4 Mobile Application
MetaTrader 4 mobile application for Android and iPhone allows trading in a diverse index of underlying assets anytime and anywhere. Using a top mobile platform in your daily trading regime offers a simple and convenient way to keep tab of your account even when you don’t have access to either a desktop or a laptop. Wherever you are, stay abreast of the market’s latest developments, analyze the implications and gain exposure to your preferred assets at just a few taps on a mobile screen.
Getting Started With the MetaTrader 4 Mobile App
MetaTrader 4 mobile application is an irreplaceable working tool in any serious trader’s arsenal. It comes loaded with a whole host of features, the most prominent among which are listed below –
- Real-time quotes
- Access anytime, anywhere
- Complete control over trading account
- All MT4 order types and execution modes available
- Detailed trading history
- 3 chart varieties – candlestick, bar and line
- 9 different chart time-frames: M1, M5, M15, M30, H1, H4, Daily, Weekly and Monthly
- Up to 30 technical indicators, including trend followers, oscillators and breadth indicators
- 24 analytical tools, including channels, Gann, Fibonacci and Elliot studies
- Customizable chart colour scheme
- Breaking financial market news
- Option to chat with any registered member of the MetaTrader trading community
- iOS version is also compatible with iPad and iPod touch
MetaTrader 4 Mobile Guide
How to Login to MT4 Mobile App
How to Add a New Symbol on MT4 Mobile App
- Select the “+” icon located on the top right-hand corner of the “Quotes” screen.
- Navigate through the symbol list and click the “+” icon attached next to the asset you wish to add.
How to View a Chart
- Click on the “Main Menu” and select the “Quotes” screen.
- Choose the symbol you want to trade by tapping on it.
- Next, select “New Order.”
- From the drop-down list, you can choose the order type from “Instant Execution,” “Buy Limit,” “Sell Limit,” “Buy Stop” and “Sell Stop.”
- Input the quantity you wish to trade, and press “BUY” or “SELL.”
How to Modify an Open Position
- Choose the “Trade” screen from the “Main Menu” to get a complete list of all your open positions.
- Press and hold the position you wish to modify.
- Next, select “Modify Order” and enter your Take Profit and/or Stop Loss levels.
- Finally, click on “Back” > “Modify” > “Done.”
How to Close a Trade
To close an open position –
- Choose the “Trade” screen from the “Main Menu” to get a list of all your open positions.
- Press and hold the position you wish to close and select the “Close” button.
- Confirm the exit price by selecting “Close at…”
- Click on “Done.”
Want to trade? Look at brokers offering MT4 and some of the leading trading platforms or check out the best online brokers!