MetaTrader 4 provides Alpari clients with a wide range of capabilities:

• Multiple Order Execution Types: both Instant and Request Execution
• Confidential Transactions: all of your trades are protected from being copied
• Comprehensive Technical Analysis Tools: a variety of embedded indicators and line tools, the ability to view charts over different time periods and to write your own scripts and indicators
• Dow Jones Forex News Feed: the latest financial news from professional currency traders
• MetaQuotes Language 4 (MQL4): an embedded programming language that allows you to write your own automated trading strategies (Expert Advisors) and backtest them against historical data
• A User-friendly Interface: MT4 is easy to use and is available in multiple languages
• Real-time Quote Export: with Dynamic Data Exchange (DDE), you can export your trading data to other programs

If you aren't quite ready to open a live trading account, you can start by opening a demo account with us. On demo accounts, you can trade real quotes without risking any money.

Access the Forex Market from Your Mobile Device

Our mobile trading applications let you can keep an eye on your trading account and make trades from virtually anywhere.

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  MetaTrader 4 PDA Edition

  With MetaTrader 4 PDA Edition, you can open and close positions, get real-time quotes, analyze charts and access the latest financial news.

  MetaTrader 4 PDA Edition is compatible with Pocket PCs running on Windows CE or Windows Mobile.

  • Download
    MetaTrader 4 PDA User Guide
  • Download
    MetaTrader 4 PDA (Install on your Pocket PC)
  • Download
    MetaTrader 4 PDA (Sync from your PC)
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  MetaTrader 4 Smartphone Edition

  MetaTrader 4 Smartphone Edition is a trading terminal chocked full of tools for the trader on the go, including real-time quotes and charts, technical analysis indicators, audio alerts and streaming news. MetaTrader 4 Smartphone Edition runs on Microsoft® Windows Mobile® Smartphone OS.

  • Download
    MetaTrader 4 Smartphone User Guide
  • Download
    MetaTrader 4 Smartphone (Install on your Smartphone)
  • Download
    MetaTrader 4 Smartphone (Sync from your PC)
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  Our WAP Site (for Mobile Devices)

  Alpari's WAP site, wap.alpari.org gives you faster access to quotes, financial news and information about your trading account.

Program your own automated trading strategies with MetaQuotes Language 4 (MQL4).

MQL 4 allows you to fully automate your trading strategies by writing "Expert Advisors". You can also write your own custom indicators, scripts and libraries.

Download the manual below if you would like to begin writing your own autotrading systems and technical indicators.

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  Install MT4 and Open a Demo Account

  • 1. Download the MetaTrader setup file: "Informational Trading Terminal Metatrader 4".
    Open the file and follow the instructions.
  • 2. Choose your preferred setup language and click "Next".
    
  • 3. The following window will appear:
    
  • 4. Read the notice and click "Next". In the next window, read through the terms of use and check the box indicating your agreement and click "Next".
    
  • 5. Select the program’s destination folder and click "Next".
    
  • 6. In the following window, click "Next" to start copying files and install MetaTrader on your computer
    
  • 7. Once you click "Next", the installer will set up MetaTrader on your computer
    
  • 8. Once the installation is complete, you can launch MetaTrader right away by checking the box that says "Launch MetaTrader 4". Click "Finish".
    
  • 9. If you're installing the program for the first time, you'll be asked to fill out a form to open a demo account.
    
  • 10. After filling out of the form,check the box "I agree to subscribe to your newsletters" and click "Next". On the following screen select your server and then click "Next".
    
  • 11. You will then be given a login and password for your demo account.
    
  • 12. Once you click "Finish", the client terminal will load and you will be able to start trading on your demo account.
  • 13. You can change the interface language at any time by choosing the menu option View -> Languages.
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  Viewing Real-time Quotes in the “Market Watch” Window

  MetaTrader 4 informational trading terminal.xx

  MetaTrader consists of several parts:

  • 1. The Main Menu
  • 2. Toolbars
  • 3. The "Market Watch" window
  • 4. The "Navigator" window
  • 5. Charts
  • 6. The "Terminal" window

  The main menu and toolbars enable you to quickly perform operations and change the terminal’s settings. In the "Market Watch" window, quotes for the instruments you have chosen are shown in real time. With the help of the "Navigator" window, you can quickly switch to another account, add indicators on charts, etc. The charts show the history of price movements over a given time frame for any instrument as well as include a number of analytical features: line tools, technical and user indicators, text and geometrical figures. In the "Terminal" window, you can access a comprehensive history both of trading and non-trading (deposits/withdrawals) operations, view real-time financial news and receive messages from Alpari through MetaTrader mail. You may also open new positions in the "Terminal" window.

  "Market Watch" window

  The "Market Watch" window (shown above) displays real-time quotes for all available currency pairs. It can be enabled/disabled by pressing Ctrl+M, or by using the "View -> Market Watch" menu sequence, or by clicking this button on the "Standard" toolbar.

  You can bring up a window to make a new order or customize your "Market Watch" by right-clicking anywhere in the '"Market Watch" window. This will bring up the context menu which has the following options:

  • "New Order": Open/close a position or place a pending order.
  • "Chart Window": Open a chart of the selected instrument.
  • "Hide": Remove the selected pair from the "Symbols" list in the "Market Watch" window.
  • "Hide All": Leave only those pairs for which you have an open position, or the chart for which you are currently viewing.
  • "Show All": Show all available instruments in the "Market Watch" window.
  • "Time": Add a column to the "Market Watch" window showing when the quotes were generated.
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  Charts

  In MetaTrader 4 you can see as many real time charts as you wish, all on one screen, for any currency pair and for any time period.

  The following types of charts are available in MetaTrader 4:

  • 1. Line Chart. On a line chart, the x-axis shows different time periods (minutes, hours, days, months etc.), and the y-axis displays price. The last received quote for the given time period is highlighted. These charts are best used for short time periods (up to 5 minutes). In order to change a chart to a line chart, press the button on the "Charts" toolbar, press Alt+3 or go to quot;Charts -> Line".
    Example of a line chart in MetaTrader.
  • 2. Bar Chart Each bar on a bar chart shows the maximum and minumum prices as well the open and close price for the given time frame. These charts are most effective for time frames of 5 minutes or longer. In order to change the chart to a bar chart, either click the button on the "Charts" toolbar, use the key sequence Alt+1 or go to "Charts -> Bars".
    Example of a bar chart in MetaTrader
  • 3. Candlesticks Candlestick charts are based on the same idea as bar charts but with added . Candlesticks charts were very popular in the 80-90s because of their clear graphics. Candlesticks were originally created only for day charts which is why these days they are mostly used for a daily period. This method of technical analysis is based on the correlation between both closing and opening prices within the same trading day, and the closing price of the previous session and the opening price of the next session. A candlestick differs from a bar by shape. A square is drawn between opening and closing prices, which is called the real body. The thin vertical lines above and below the body are called shadows and show the maximum and minimum prices within a specified period of time, respectively. Depending on the closing and opening prices the real body can be white (empty) or black. When the body is white, the closing price was higher than the opening level. When the body is black, the closing price was lower than the opening level. In order to change the chart to a candlestick chart,press the button on the "Charts" toolbar, or use the Alt+2 key sequence or the "Charts -> Candlesticks" menu sequence.
    Example of candlestick chart in MetaTrader

  In order to create a new chart for a certain currency pair, right-click on the "Market Watch" window and then select the "Chart Window" item from the context menu.

  Create new chart

  By left-clicking the mouse you can drag and drop any selected currency pair into any open chart window.

  "Chart Period": the period displayed in one bar or candle. For example, if you create a 15-minute (M15) bar chart, then each bar will show price data for the 15 minute period you have chosen.

  In MetaTrader, you can create charts with the following time intervals: 1, 5, 15, 30 minutes (M1, M5, M15, M30 respectively), 1 hour (H1), 4 hours (H4), 1 day (D1), 1 week (W1) and 1 month (MN). In order to change a chart’s time period, use the "Periodicity" toolbar.

  The "Periodicity" Toolbar

  Right click anywhere on the chart to produce the context menu for quick access to chart settings.

  Chart context menu

  Chart Periodicity

  • 1. Choose "Periodicity" and select a time period from the drop-down menu or press the button on the "Charts" toolbar.
    The "Charts" toolbar
  • 2. Select "Refresh" if an error occurs or if there are "gaps" on the price chart. All missing data will be uploaded from the server and then appear in the chart
  • 3. Select "Grid" to hide/unhide the gridlines in the chart
  • 4. Select "Volumes" to show/hide tick volume (the number of quotes in any period of time)
  • 5. "Zoom in" / "Zoom out" will enlarge or minimize the chart’s scale. You can also use the / buttons on the "Charts" toolbar or press the "+" or "-" keys
  • 6. "Save as picture…" will save the chart as a *.gif or a *.bmp file
  • 7. "Properties…" (or the F8 key) enables a window where you can change chart settings and by selecting the "Colors" tab, you can change the color of any element on the chart
  Color tab of the Chart Properties window
  Common tab of the Chart Properties window

  You can change other settings in the "Common" tab.

  Please take note of the following options:

  • "Offline chart" — this option turns off the updating of new quotes. Once you open the chart offline (the "File -> Open autonomously") this option will be chosen automatically ;
  • "Chart shift" — allows/prohibits you to shift the chart from the right edge of the window. You can also press the button on the "Charts" toolbar or use the "Charts -> Chart shift" menu sequence.
  • "Auto scroll" — enable/disable the function to scroll the chart automatically to the left once the a tick comes. Alternatively, you can press the button of the "Charts" toolbar or to use the "Charts -> Auto scroll" menu.
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  Opening/Closing a Position

  In order to open a new position you need to open the "New Order" window. There are several ways to do this:

  • Right-click on the "Market Watch" window or in the "Terminal" window (the "Trade" tab) and choose "New Order" from the context menu;
  • Press the F9 key;
  • Use the "Service -> New Order" menu sequence;
  • Right-click on the chart and select "Trade -> New Order" from the context menu;
  • Double-click on a currency pair in the "Market Watch" window.

  Any of the above-mentioned sequences of actions will bring the "New Order" window up.

  New "Order" window (Instant Execution)

  There are two modes of order execution when trading: "Instant Execution" and "Request Execution".

  Instant Execution means that you do not have to request quotes from the dealing center, as you see real-time quotes in the "Order" window. Once you decide to but or sell at the current price, you can open a long or short position by pressing the "Buy" or "Sell" buttons.

  Quotes for currency pairs traded using "Instant Execution" in the "Market Watch" window are executable, the quotes that the dealing center offers for making a deal.

  Quotes for currency pairs traded using "Request Execution" in the "Market Watch" window are indicative and you cannot make a deal without a prior request. In this case when you open the "Order" window, the buttons "Buy" and "Sell" are inactive but a new "Request" button appears.

  New "Order" window ("Request Execution")

  When you press the "Request" button, the dealing center will show current quotes.

  Request quotes

  Once you see the quote, it may be traded for several seconds. Once you press the "Buy" or "Sell" button and receive conformation, you have an open position. This position will appear in the "Trade" tab of the "Terminal" window.

  Order Confirmation

  There are many advantages to using "Instant Execution" rather than "Request Execution". "Instant Execution" only takes a few seconds to make a deal compared to 30-40 seconds using "Request Execution" (on a demo account, all operations are made within several seconds, as demo accounts are quoted automatically, while live accounts are quoted manually).

  Additionally, when using "Request Execution", quotes are indicative, so they may differ from those offered by the broker for making a deal.

  Thus, the ability to deal using "Instant Execution" should be an important factor when choosing a dealing center. Alpari has traded every instrument with "Instant Execution" since 2005.

  Before you make a deal, you can change its details in the "Order" window:

  • "Symbol" — the currency pair you choose to make a deal;
  • "Volume" — the deal's volume in lots (sizes of 1 lot at Alpari are shown in "Contract Specification");
  • "Stop Loss" — the level of the Stop Loss order;
  • "Take Profit" — the level of the Take Profit order;
  • "Commentary" — any notes on the deal.

  In order to close a position, select it in the "Trade" tab of the "Terminal" window and right-click to access the context menu. Select "Close order".

  The context menu of the "Trade" tab in the "Terminal" window

  Left-double-clicking on the open position in the "Trade" tab of the "Terminal" window will have the same result. The "Order" window will appear, where you will see the "Close position number …" button.

  Close position ("Instant Execution")

  Using "Request Execution", you first need to request quotes from the dealing center before closing the position. After pressing the "Request" button, the "Close position number …" button will become active.

  Close position ("Request Execution" technology)

  If the market is stable, trades are executed at the quotes shown by the dealing center. However, during a volatile market, quotes can change quickly and one given only a few seconds ago may longer be current. If you are unable to have your executed at the current quote, a new quote will appear.

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  Stop Loss and Take Profit Orders

  Take Profit is an order to close a previously opened position at a market price more profitable for the trader than the price at the time of placing the order.

  Stop Loss is an order to close a previously opened position at a market price less profitable for the trader than the price at the time of placing the order.

  "Take Profit" and "Stop Loss" orders give you the ability to step away from the computer and not wait around for an outcome (whether favorable or unfavorable). Take Profit and Stop Loss orders will be executed automatically as soon as the price reaches the order level. Thus, once they are placed, you can easily turn off your computer and the orders will still trigger.

  You can place Stop Loss and Take Profit orders at the time of making a deal by filling in the "Stop Loss" and "Take Profit" fields in the "Order" window.

  Afterwards in order to modify the levels of Stop Loss and Take Profit orders, use the context menu by right-clicking on an open position or pending order in the "Trade" tab of the "Terminal" window and choose "Modify or Cancel Order". The "Modify Order" window will appear.

  The Modify Order window

  There is a limit for the minimum difference between the order and the market price. As a rule, you cannot place an order that is less than the size of the spread from the current market price.

  In order to modify the level of Stop Loss and Take Profit orders, fill in the "Stop Loss" and "Take Profit" fields. By pressing the red button (in our example "1.2228") you can copy this level into the "Stop Loss" field. By pressing the blue button (in our example "1.2234") you can copy this level into the "Take Profit" field. The value in the "Level" field defines the difference between the order level and the current price, which is displayed on the "Copy as" button.

  Once you fill in the "Stop Loss" and "Take Profit" fields, press the "Modify position number …" button. If the order has been modified successfully, a report will appear.

  Report on Successful Modification

  In order to delete a Stop Loss or Take Profit order, set its value equal to zero.

  Stop Loss and Take Profit orders will be executed in the following cases:

  • 1. The "Take Profit" order on an open buy position will be executed when the Bid price becomes equal to or higher than the order level.
  • 2. The "Stop Loss" order on an open buy position will be executed when the Bid price becomes equal to or lower than the order level.
  • 3. The "Take Profit" order on an open sell position will be executed when the Ask price becomes equal to or lower than the order level.
  • 4. The "Stop Loss" order on an open sell position will be executed when the Ask price becomes equal to or higher than the order level.

  The order will be executed if at least one quote in the quotes flow reaches the order level.

  Please keep in mind that in MetaTrader 4, charts are created using Bid prices. Thus:

  • The minimum Ask price is equal to the minimum bar price (Low) plus spread.
  • The maximum Ask price is equal to the maximum bar price (High) plus spread.
  • The minimum Bid price is equal to the minimum bar price (Low).
  • The maximum Bid price is equal to the maximum bar price (High).
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  Pending Orders

  A Pending order is an instruction to open a position when the current price reaches the order level.

  There are four types of pending orders:

  • 1. Buy Limit — order to open a buy position if the Ask price becomes equal to or lower than the order level. The current price level is higher than the Buy Limit order level when the order is placed.
  • 2. Buy Stop — order to open a buy position, if the Ask price becomes equal to or higher than the order level. The current price level is lower than the Buy Stop order level when the order is placed.
  • 3. Sell Limit — order to open a sell position if the Bid price becomes equal to or higher than the order level. The current price level is lower than the Sell Limit order level when the order is placed.
  • 4. Sell Stop — order to open a sell position if the Bid price becomes equal to or lower than the order level. The current price level is higher than the Sell Stop order level when the order is placed.

  Types of pending orders

  In order to place a pending order, open a new "Order" window using one of the methods described in the "Open/close position" section and change the order type to "Pending Order".

  Placing a pending order

  The following options can also be changed in this window:

  • 1. "Symbol" - the currency pair you choose to make a deal;
  • 2. "Volume" - the deal’s volume in lots (sizes of 1 lot at Alpari are shown in "Contract Specification");
  • 3. "Stop Loss" - the Stop Loss order level which will activate once the pending order has been executed;
  • 4. "Take Profit" - the Take Profit order level which will activate once the pending order has been executed;
  • 5. "Commentary" - any notes on the pending order;
  • 6. "Type" - the type of pending order: Buy Stop, Buy Limit, Sell Stop, Sell Limit.
  • 7. "At price" - pending order level;
  • 8. "Expiry" - if the box has not been checked, the order is valid up until cancellation or execution. If the box is checked, the order is valid up until the time specified.

  In order to finish placing a pending order, press the "Place" button and it will be displayed in the "Trade" tab of the "Terminal" window.

  In order to modify or delete a pending order, select it in the "Terminal" window, right-click and choose "Modify or delete order" in the context menu. Press the "Modify" or "Delete" button depending on your desired action.

  Modify/Delete a pending order
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  Trailing Stops

  A Trailing Stop is an algorithm to manage Stop Loss orders.

  If you place a Trailing Stop (for X pips) the following occurs:

  • 1. No Stop Loss order will be placed until the open position is in a profit of at least X pips. MetaTrader then places a Stop Loss order X pips from the current price (in this case, at the breakeven point).
  • 2. Subsequently, each time the difference between the current price and the order level exceeds X pips, MetaTrader sends a command to modify the level of the Stop Loss order to a level X pips higher or lower than the current price. As a result, the Stop Loss order always stays in accordance with the current price.

  In order to place a Trailing Stop, select the necessary open position in the "Trade" tab of the "Terminal" window and right-click to open the context menu, where you can set Trailing Stop level.

  Placing a trailing stop

  A Trailing Stop is one of the most effective ways to maximize profit. If you correctly determine the value of Trailing Stop, your position won't close until price movement in your favor ends. Trailing Stop can significantly increase the profitability of your trading practice.

  In order for Trailing Stop to work, MetaTrader needs to be on and connected to the internet.

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  Using the "Navigator" Window

  The "Navigator" window gives you quick access to different program functions.

  "Navigator" window

  The list of functions are in drop-down menus and divided into 5 groups:

  • 1. "Accounts" — list of accounts. Double-click to switch to a different account.
  • 2. "Indicators" — list of available technical indicators. Double-click an indicator to add it to an active chart. You also can drag and drop to add an indicator to any chart. In order to do this, left-click and hold while shifting the indicator to the chart.
  • 3. "Expert Advisors" — list of available advisors. Expert Advisor is written in MetaQuotes Language 4 (MQL4) and can implement any trading strategy. It has access to the terminal's data and can make transactions automatically.
  • 4. "User Indicators" — list of all available user indicators, i.e. MetaQuotes Language 4 custom indicators written by you or other users of the client terminal.
  • 5. "Scripts" — library of user functions designed for storing frequently used blocks of user programs.

  To show a group's contents, press . To hide a group's contents, press .

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  MQL4: Programming Autotrading Strategies

  If you want to avoid everyday manual routines and completely automate the process of trading and managing orders, you should use Expert Advisors. They also allow you to be more rational in your decision making process and keep track of the current market situation.

  Expert Advisors in MetaTrader are special programs, developed in the specialized language MetaQuotes Language 4 (MQL 4) designed to automate analytical and trading operations. Expert Advisors automatically analyze the current market situation, execute trading operations, and control open positions.

  The Expert Advisors testing technology uses historical data to test the long-term effectiveness of your trading strategies and get fairly accurate results in just a few minutes. This way you don’t have to wait for years to confirm the profitability of your trading strategy!

  MetaQuotes Language 4 isn't difficult to learn, even if you have little or no programming experience.

MetaTrader 5 is the next generation of MetaTrader, the world's most popular trading platform, now available to try in demo mode.

MetaTrader 5 is the latest development from our long-time partners at MetaQuotes. MetaTrader 5 is currently only available in demo mode, but when the full version it is released, it will allow traders to trade stocks, options and futures in addition to currency pairs. With MetaTrader 5, you will also be able to trade on an Electronic Communication Network (ECN).

MetaTrader 5 features:

• Market Watch: a tool that lets you see market depth
• 6 Order Types: MT4 only features 4
• 4 Types of Order Execution: Market, Instant, Request, and Exchange

Get a sneak peek of what MetaTrader 5 has to offer. Download MT5 from our site and open a demo account in the terminal.

Much like its predecessor, MetaTrader 5 will also feature its own built-in programming language, MQL5 (MetaQuotes Language 5). Download the MQL5 manual below to begin developing your own automatic trading strategies.

MQL5 Manual (PDF file)

MQL5 Manual (CHM file, opens in windows)