Complete Guide to
MetaTrader 4 & 5
Learn everything about the world's most popular trading platforms. Compare MT4 vs MT5, download for free, and find brokers that support MetaTrader.
The Complete Step-by-Step MetaTrader Guide
Learn to use MetaTrader 4 and 5 from installation to placing your first trade. By the end, you'll be ready to trade for real.
1. Installing MetaTrader
MetaTrader runs on desktop, mobile, and web browsers. Pick whichever suits you best.
- 1Desktop (Windows/Mac): Download the installer from your broker's website or from metatrader4.com / metatrader5.com, then open the file and follow the setup steps.
- 2Mobile (iOS/Android): Search for 'MetaTrader 4' or 'MetaTrader 5' in the App Store or Google Play and install it for free.
- 3Web browser: Many brokers offer the MetaTrader Web Terminal, letting you trade instantly in your browser with no installation needed.
2. Opening an Account & Logging In
Before trading you need an account from a broker. We recommend practicing on a demo account before using real money.
- 1Open an account with a broker that supports MetaTrader. You'll receive three things: a Login (account number), a Password, and a Server name.
- 2Open the platform and go to File > Login to Trade Account (on mobile: Settings > New Account > Login to an existing account).
- 3Select the Server that matches what your broker gave you, enter your Login and Password, then press Login.
- 4Tip: Start with a demo account to practice with virtual money until you're confident, then switch to a live (real) account.
3. Getting to Know the Interface
The MetaTrader screen has four main areas you should know.
- 1Market Watch: Shows the Bid/Ask prices of currency pairs. Right-click to open a chart or place an order.
- 2Navigator: Access your accounts, indicators, EAs, and scripts. Double-click or drag an item onto a chart to use it.
- 3Chart Window: Displays price movement. Change the timeframe and add indicators here.
- 4Terminal / Toolbox (bottom bar): Shows your open orders, trade history, balance, profit/loss, and news.
4. Placing an Order
There are several ways to open a trade. Here are the basics.
- 1Right-click a pair in Market Watch and choose 'New Order', or press F9 to open the order window.
- 2Set the Volume (lot size) — a bigger lot means more risk and more profit/loss per pip. Start small while you're learning.
- 3Always set a Stop Loss (to cap losses) and a Take Profit (to lock in gains) to manage risk with discipline.
- 4Choose the order type: Market Execution opens at the current price instantly, or a Pending Order waits to open at a price you set.
- 5Press Buy if you expect the price to rise, or Sell if you expect it to fall. The order then appears in the Trade tab.
5. Managing & Closing Orders
Once an order is open, you can modify or close it at any time.
- 1Open orders appear in the Terminal's Trade tab with real-time profit/loss.
- 2Edit SL/TP: double-click the order, or right-click > Modify or Delete Order, then adjust the values.
- 3Close an order: right-click it > Close Order, or press the (x) at the end of the row.
- 4Trailing Stop: right-click the order > Trailing Stop so the stop loss follows your profit automatically (it works while the platform stays open).
6. Charts, Indicators & Drawing Tools
Technical analysis tools help you read market direction more clearly.
- 1Change the timeframe (M1, M5, M15, H1, H4, D1, etc.) from the toolbar above the chart.
- 2Switch the chart type between Candlestick, Bar, or Line to suit your style.
- 3Add indicators: Insert > Indicators, then pick popular ones like Moving Average, RSI, MACD, or Bollinger Bands.
- 4Drawing tools: draw trendlines, support/resistance, or Fibonacci from the toolbar to mark key price levels.
7. Installing EAs & Custom Indicators
Downloaded EAs (Expert Advisors / trading robots) and indicators install like this.
- 1Go to File > Open Data Folder, then open the MQL4/Experts folder (or MQL5/Experts for MT5).
- 2Copy the EA file (.ex4/.ex5 or .mq4/.mq5) into the Experts folder; put indicator files into the Indicators folder.
- 3Restart the platform, or right-click in the Navigator > Refresh so it detects the new files.
- 4Drag the EA onto a chart, then turn on the 'AutoTrading' button at the top so it's green (you must also allow Algo/Auto Trading in the settings).
8. Using the Mobile App
The mobile app does almost everything the desktop does — great for tracking and managing trades on the go.
- 1Quotes tab: view currency prices; tap a pair to place an order or open its chart.
- 2Charts tab: view charts, change the timeframe, and add indicators just like on desktop.
- 3Trade tab: see your open orders, balance, and real-time profit/loss.
- 4Place an order: tap Quotes > pick a pair > Trade, set the lot, SL, and TP, then press Buy or Sell.
- 5Note: the MetaTrader mobile app cannot run EAs — for automated trading you need a desktop computer or a VPS.
MetaTrader 4 vs MetaTrader 5
Understanding the key differences between MT4 and MT5 platforms
MetaTrader 4
The legendary trading platform that revolutionized forex trading. MT4 is known for its simplicity, vast EA library, and universal broker support.
MetaTrader 5
The advanced multi-asset platform with superior charting capabilities, more order types, and built-in economic calendar for professional traders.
| Feature | MetaTrader 4 | MetaTrader 5 |
|---|---|---|
| Release Year | 2005 | 2010 |
| Markets | Forex | Multi-Asset |
| Timeframes | 9 | 21 |
| Order Types | 4 | 6 |
| Built-in Indicators | 30 | 38 |
| Hedging | optional | |
| Market Depth | ||
| Economic Calendar |
Download MetaTrader
Get MetaTrader 4 or MetaTrader 5 for free. Available for Windows, Mac, iOS, Android, and web browsers.
Download MT4
Download the classic MetaTrader 4 platform trusted by millions of forex traders worldwide since 2005.
Download FreeDownload MT5
Download the next-generation MetaTrader 5 platform with advanced features for multi-asset trading.
Download FreeWhich Brokers Support MetaTrader?
Most top-rated forex brokers for Thai traders offer both MT4 and MT5 platforms
Popular MT4 Brokers
- Exness
- XM Group
- FBS
- IC Markets
- Pepperstone
- FXTM
Popular MT5 Brokers
- Exness
- XM Group
- IUX Markets
- IC Markets
- Admirals
- Vantage
Tips for MetaTrader Beginners
Essential tips to get started with MT4 or MT5 successfully
Start with Demo Account
Practice trading with virtual money on a demo account before risking real capital. Learn the platform interface, test strategies, and build confidence.
Learn the Indicators
MT4/MT5 come with 30+ built-in indicators. Start with basics like Moving Averages, RSI, and MACD to identify trends and entry points.
Use Stop Loss Always
Protect every trade with a stop loss order. MT4/MT5 make it easy to set automatic stop losses to limit your downside risk on every position.
Customize Your Charts
Save custom chart templates with your favorite indicators, colors, and timeframes. This saves time and keeps your analysis consistent.
Explore Expert Advisors
MT4/MT5 support automated trading through Expert Advisors (EAs). Start with simple free EAs to understand algorithmic trading basics.
Keep Platform Updated
Regularly update your MetaTrader platform to get the latest features, security patches, and performance improvements from MetaQuotes.
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