Should I use MetaTrader 4?
WorldWideMarkets offers the popular MetaTrader 4 (MT4) platform to trade Forex, CFDs and Indices. MT4 is a cutting-edge trading platform developed by MetaQuotes Software Corporation. MT4 offers manual trading and automated trading using robots – this is commonly known as expert advisors (EAs). It’s available for both individual traders and institutional investors.
Key differences of MT4 include:
- Ability to save charts
- Add trailing-stop to orders
- Trade directly from charts
- Allows various custom indicators
- Automated trading capabilities
If you can’t decide which platform is best for your trading needs, please visit the trading platform comparison page located here.
How do I create a new order in MT4?
Placing a trade in MetaTrader4 (MT4) is quick and easy. First a “new order” must be created, and the fastest way to do so is to hit the “F9” shortcut on your keyboard. Alternatively, from the upper toolbar select “Tools” then “New Order,”and the new order dialouge will appear. The next step involves reviewing the following six parameters before either buying (long) or selling (short) or cancelling the order.
- Choose the instrument available from the dropdown list under “Symbol” that you wish to trade.
- Select the the “Volume” amount which will determine the trade size and resulting pip or point value and any resultant profit or loss that may occur.
- Optionally add a Stop-Loss value “Stop Loss”value and/or “Take Profit”(Limit) Value, which will trigger the trade to close early in the event either of such values are reached.
- Optionally add a “Comment” in the comment field
- Choose whether the order “Type” will be a “Market Execution” type order (to execute immidiately at the available market price) or select “Pending Order”and an additional set of parameters (pending type, price, and expiry) will appear for pending order-type trades.
- Within the “Market Order” box, click the order “Type” dropdown and select“Market”. By default, the order type is set to “Market”.
- Review all selected parameters and then to confirm the orderclick the red highlighted button to either “Sell by Market” which will submit the order to establish a short (selling) position, or click the blue highlighted button to “Buy by Market” which will submit the order to establish a long (buying) position.If niether buy/sell button is highlighted, the market hours for that trading instrument may have caused it to be closed, or one of the parameters may be invalid. Finally to cancel the order, simply X-out the window by clicking on the X in the top right corner of the window.
After an order is submited successfully, an “Order Confirmation” window will appear, then the order/trade will be visible from the “Trade” tab of the “Terminal” viewandnfrom which it can be managed from. For more navigation tips and shortcuts, see the MT4 user guide from within the platform, by clicking F1, or download it from MetaQuotes using the following link.
Which server do I use on MetaTrader4?
If you are unsure of the server your account is set up for, please confirm the specific server from the email we sent to you with your initial login details. This should generally be one of the servers that starts with “WorldWideMarkets.”
If you received the error message “No Connection” and are sure you are logging onto the correct server, please manually type in an alternative server or choose from the available dropdown list which may show for example the two servers listed below: .
- MetaTrader 4 Live Server: WWM-Live
- MetaTrader 4 Demo Server: WWM-Demo
Why did my trade open/close automatically?
WorldWideMarkets offers traders the ability to place pending orders (also known as entry orders) which will initiate an open position at a price above or below the current market price. “Stop-loss” Orders and “Take-Profit” or limit orders, can also cause trades to close automatically. In situations where a position was closed automatically it may be do to either a stop-loss or take-profit order triggered. However, only pending orders can cause a trade to open automatically, in addition to using trading robots. There are four types of “ Pending Order Types , including: ol class=”standard has-ico”>
- Buy Stop
The Buy Stop is an order to “buy” long above the current market rate
- Buy Limit
The Buy Limit an order to “buy” long below above the current market rate
- Sell Stop
The Sell stop is an order to “sell” short below the current market rate
- Sell Limit
The Sell Limit is an order to “sell” short above the current market rate
When the specified market price is reached, a pending order triggers a market order to execute and open a trade (establish a position). Unlike Stops and Limits attached to market orders (which are stored on WWM’s servers), these four “Pending orders” described above are only held (stored) on the users MT4 terminal (locally on their pc/machine) and thererfore needs to be running and connected for them to be active.
If one or several trades close automatically, there could be several conditions that caused this. Please verify if a stop or limit was placed on the trade and executed. If this was not the case, and all trades have been closed, the account may have received a margin call (which liquidates trades to help prevent a negative balance, in cases where no more available margin was usable. For complete details about“Margin Requirements” please visit: this page.
How do I access MetaTrader 4 on my mobile device?
Traidng on MetaTrader4 is available for access using a mobile device.
If you are using MetaTrader 4 (iOS® & Andriod™):
How do I open a live MetaTrader 4 account?
To open a live MetaTrader4 (MT4) account please click here.
How do I download and install MetaTrader 4?
Click here to download MT4 to your computer.
Depending on your browser the download may be shown in a specific location.
If you are using Internet Explorer:
- Once the download is complete a window will appear asking you if you would like to Run or Save the file.
- Click “RUN” and follow the prompts on the screen.
If you are using Google Chrome:
- Locate the download in the bottom left hand corner of the page.
- Right click/double click on “WWM4-SETUP.exe” to open the Install wizard.
- Follow the instructions to complete the install.
If you are using Mozilla Firefox:
- Access the download by clicking on the green – downward facing arrow in the top right hand corner.
∗Note: You may have to select “Show all downloads”
- Right click/ double click on “WWM4-SETUP.exe” to open the Install wizard.
- Follow the instructions to complete the install.
Instructions to run MetaTrader4 on a compatible mobile device or tablet: If you are using MetaTrader 4 (iOS® & Andriod™):