Trading Platforms (How to Guide) – MT4

Trading Platforms We Offer

OneRoyal provides access to three powerful and reliable trading platforms trusted by traders worldwide:

  • MetaTrader 4 (MT4) – The industry-standard platform known for its simplicity and stability.
  • MetaTrader 5 (MT5) – The next-generation platform with enhanced tools, faster execution, and advanced charting.
  • orTrader – Our modern, intuitive trading platform designed for a seamless trading experience across devices. These platforms allow traders to trade Forex, Commodities, Indices, Cryptocurrencies, and more with fast execution and top-tier security.

MetaTrader 4 (MT4)

MT4 is one of the world’s most popular trading platforms, designed for Forex, CFDs, and commodities.

It offers fast execution, advanced charting tools, and user-friendly order management — suitable for both beginners and experienced traders.

How to Download MT4

Desktop:

  1. Visit the OneRoyal website.
  2. Navigate to Platforms → MT4.
  3. Scroll down towards the end of the page and download and install the MT4 version depending on your device.

Mobile:

  1. Open the App Store or Google Play.
  2. Search MetaTrader 4.
  3. Download and install the app.

How to Log In to MT4

To log in:

  1. Open MT4.
  2. Go to File → Login to Trade Account.
  3. Enter your:
    • Login number
    • Trading password
    • Server name (as provided in your email)
  4. Click Login to connect.

Introduction to the Basic Sections of MT4

MetaTrader 4 (MT4) is one of the most widely used trading platforms in the world. It is designed to be simple enough for beginners while offering powerful tools for more advanced traders.

To navigate MT4 effectively, it’s important to understand its four main sections:

  1. Market Watch

Displays real-time Bid/Ask prices for all available instruments.
From here, you can open charts, place new orders, and access symbol specifications.

  1. Charts

Shows the price movement of any instrument you select.
You can analyse the market using different timeframes, indicators, drawing tools, and chart styles.

  1. Navigator

Provides quick access to your trading accounts, indicators, Expert Advisors, and scripts.
You can easily drag indicators from the Navigator onto your chart.

  1. Terminal

Your main control centre for monitoring trades and account activity.
It shows open positions, account history, balance, margin levels, and important notifications.

Together, these sections help you monitor the markets, analyse charts, place trades, and manage your entire trading activity from one platform.

MT4 – Market Watch

The Market Watch window displays real-time price quotes for all available instruments, including Forex pairs, indices, commodities, and more. This window allows traders to quickly see Bid/Ask prices and choose which instruments they want to monitor or trade.

What You Can Do in Market Watch

  • View live price quotes
    Each symbol shows the current Bid (sell price) and Ask (buy price).
  • Open charts or new orders
    Right-click any instrument to open its chart, place a new order, or view trading options.
  • Add or remove instruments
    If you don’t see a symbol you want to trade, right-click inside Market Watch and select Show All to display every available instrument.
  • Check instrument details
    Right-click and choose Specification to view important information such as contract size, margin requirements, swap rates, and trading hours.

How to Add Trading Instruments on MT4

If you cannot see a symbol in your Market Watch, follow these steps to add it:

  1. Go to Market Watch.
  2. Right-click anywhere inside and select Symbols.
  3. Browse the available categories (Forex, Metals, Indices, etc.).
  4. Select the instrument you want and click Show.
  5. The instrument will now appear in your Market Watch list.

Tip: You can also choose Show All to display every available instrument.

Charts

Charts are the main tool traders use to analyse the market. They show price movements in real time and allow you to apply indicators, draw analysis tools, and plan your trades.

How to Open Charts on MT4

  1. To open the chart of any instrument on MT4:
  2. Go to the Market Watch window.
  3. Click on the instrument you want to view.
  4. Drag it to the right side of the platform (the grey chart area).

The chart for that instrument will automatically open.

You can open multiple charts at the same time and rearrange them depending on your trading style.

What You Can Do Once a Chart Is Open

  • Change Timeframes
    Use the top toolbar (M1, M5, M15, H1, H4, D1, etc.) to view the market from different angles.
  • Switch Chart Types
    Choose between candlesticks, line chart, or bar chart.
  • Add Indicators
    Apply tools like Moving Averages, RSI, MACD, and more to help identify trends and trade setups.
  • Add Drawing Tools
    Use trendlines, support & resistance levels, Fibonacci retracements, and more for market analysis.

Beginner Tips:

  • Charts update in real time if your connection is active.
  • You can save your preferred chart setup as a template and apply it to other charts.
  • Right-click on the chart → Properties to customise colours and appearance.

MT4 – Navigator

The Navigator window is one of the most useful tools in MT4. It gives you quick access to your accounts, indicators, Expert Advisors, and scripts—all in one place.

What You Can Find in the Navigator

  • Accounts
    View and switch between your Demo and Real accounts.
  • Indicators
    All built-in MT4 indicators can be found here (Trend, Oscillators, Volumes, Bill Williams, Custom).
  • Expert Advisors (EAs)
    Automated trading systems or robots that can be attached to charts.

How to Add Indicators to a Chart

You can add indicators in two ways:

  1. From the Navigator window:
  • Open Navigator
  • Click the Indicators folder
  • Drag any indicator onto your chart
  1. From the top menu:
  • Go to Insert → Indicators
  • Choose the indicator category (Trend, Oscillators, Volumes, etc.)
  • Select the indicator you want to add

Beginner Tip:

  • If you can’t find the Navigator window, press Ctrl + N or go to View → Navigator.

MT4 -Terminal

The Terminal window is where traders can monitor their account activity, open trades, history, and important notifications. It is one of the most important sections of MT4 and can be opened by pressing Ctrl + T or by clicking View → Terminal.

Trade Tab

Shows all your open positions in real time.

Here you can:

  • See your profit/loss (P/L), balance, equity, margin, and free margin
  • Check order details such as size, opening price, and swap fees
  • Modify or close a trade directly from this window

This tab helps you keep track of your active trades and your account’s overall health.

Account History Tab

Displays your past activity, including:

  • Closed positions
  • Deposits and withdrawals
  • Bonuses or adjustments

This section is useful for reviewing your previous trades and analysing your performance.

Journal Tab (Beginner Tip)

If something goes wrong—like an order not opening—the Journal tab records all platform actions and can help you understand the cause of errors.

How to Place a Trade

Market Orders

  1. Open New Order
  2. Select the Volume
  3. Optionally place a Stop Loss and Take Profit
  4. Click Buy or Sell at market price
  5. You will find your open position in the terminal

Pending Orders:

  1. Choose Pending Order Type
  2. Select the type of Pending Order you wish to open
  3. Select the price at which you want the trade to be triggered
  4. Click on Place.

How to Set Take Profit (TP) & Stop Loss (SL) on an Existing Trade

Setting TP and SL helps you manage risk and automatically close your trade at your preferred price levels.
Follow these steps to add or update TP/SL on a trade already open:

On an existing trade:

  1. Go to Terminal → Trade to see your open positions.
  2. Right-click on the trade you want to edit and select Modify or Delete Order.
  3. Enter your desired Take Profit (TP) and Stop Loss (SL) levels in the fields provided.
  4. Click Modify to save your changes.

Once applied, your TP and SL levels will appear on the chart as horizontal lines, allowing you to easily visualise your risk and target levels.

Tip:

  • Take Profit must be set away from the current market price by the minimum required distance (depends on instrument and broker).

How to Close a Trade on MT4

There are two main ways to close an open trade on the MT4 platform.

Method 1: Close from the Positions Tab

  1. Open the Toolbox window (Ctrl + T)
  2. Go to the Positions tab
  3. Right-click on the open position
  4. Select Close Position

Method 2: One-Click Close

  1. In the Positions tab, locate the open trade
  2. Click the X icon at the end of the position row
  3. The trade closes instantly at market price.

Closed positions will move to the History tab.

Instrument Specifications

The Specifications window in MT4 shows important details about each instrument. Key information includes:

Contract Size

The volume of one standard lot (e.g., 100,000 units for Forex pairs). Used to calculate pip value and trade size.

Margin Percentage

The required margin to open a position.
A value like 100% indicates the full margin must be available.

Swap Rates

Overnight financing costs:

  • Swap Long – for buy positions
  • Swap Short – for sell positions
    Includes the 3-day swap day (usually Wednesday).

Trading Hours

Shows when the instrument can be quoted and traded each day of the week.

MT4 Help & Advanced Resources

If you need more advanced guidance while using MT4, you can access the built-in Help menu at any time:

  • Go to Help (top menu) → Help Topics (or press F1)
  • Browse platform guides and troubleshooting topics
  • Explore additional resources such as MQL5 Documentation, Articles, and Code Base for advanced tools and scripts

Tip: Use the Help section to quickly find answers without leaving the platform.

OneRoyal

Bio

More from