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

Firstly, make sure you have a fast, stable internet connection. Launch the MT4 mobile app and select “Login with an Existing Account.” If this is the first time you are using the application, you will next be directed to “Find Your Broker.” Enter your login details and click “Submit.”

How to Add a New Symbol on MT4 Mobile App

To add a new security to your Quotes screen –
  • 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

To place a new trade –
  • 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

Modifying your open positions enables you to set Take Profit and/or Stop Loss levels. To make alterations to an existing 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!