The answer to the question of how to use real money on MetaTrader 4 is simple really. You’d need to open a real (live) trading account, fund it, and start trading on the MT4 platform using actual capital. However, let’s start at the very beginning of the process. The journey a trader takes journey before getting to the point of registering for a live trading account and using their own money to trade.
How new to trading are you?
Trading is undoubtedly an exciting and potentially profitable financial activity. For someone new to trading, the journey usually involves several steps. These may vary from individual to individualy, but normally depend on the trader’s choice of asset class, budget, and level of aversion to risk. Here are some of the typical steps one would generally see a new trader take:
1. Getting educated , practice with MetaTrader 4
It’s absolutely crucial for a beginner trader to learn as much as they can about:
- the financial markets
- different trading strategies
- the instruments they intend to trade
- risk management techniques
This may see the trader reach for resources that will educate them on these trading fundamentals. Also need practice with MetaTrader 4 , some of the most popular educational material include articles, podcasts, webinars, eBooks, eGuides, videos, etc.
2. Developing a trading plan
An effective trading plan is one that outlines the trader’s objectives, risk management rules, trading strategies, and the criteria for executing a trade. It will also include the amount of time to be dedicated to trading, anticipated return on investment, and intended trading style. A trading plan is a crucial component of successful trading outcomes as it keeps the trader focused and disciplined. It also reduces the risk of impulsive decisions based on emotions.
3. Choosing a broker
Probably one of the most important steps in the trader’s journey is choosing a broker that best aligns with their needs. It is vital to pick a broker that is reputable as well as regulated by a responsible regulatory authority. This plays a massive role in the safeguarding of your funds when you eventually use real money to trade. The broker should also offer your preferred asset classes (e.g., stocks, futures, indices, forex, metals and commodities) and trading platform.
More on MetaTrader 4
One of the most popular trading platforms today is MetaTrader 4 (MT4). Released by MetaQuotes Software almost 2 decades ago, the platform has since become the most sought after system among global traders. MT4 is an undeniably high quality product, largely due to its advanced features, simplicity, and ease of use. Regardless of one’s expertise, the platform can be customised to align with a trader’s individual requirements. It also offers some of the best technical analysis and automated trading capabilities, boosting its appeal worldwide.
This includes innovative charts, signals, indicators, trading robots (Expert Advisors), and more. Additionally, MT4 is also available as a mobile app, accessible across multiple devices. This offers a trader an unprecedented level of flexibility (internet connectivity permitted), and ensures financial markets are available to almost everyone across the globe.
Other factors to consider when choosing a broker include:
- potential fees or commissions
- spreads
- speed of trade execution
- how quickly and easily you can withdraw/deposit funds
- the quality of their customer support
4. Signing up for a demo trading account
Once a trader has selected a broker, they may consider signing up for the broker’s demo trading account. This is particularly true for a new trader who is looking to gain valuable practical trading experience. For example, a trader signing up for a demo trading account with T4Trade will gain access to the MetaTrader 4 platform. The platform offers a great opportunity for the trader to learn all the ins and outs of executing trades, engaging in research and analysis, and using automated trading for increased efficiency.
In essence, MT4 provides the trader with a simulated trading environment that mimics real market conditions. Using virtual funds, a trader can enter and exit positions and measure results. Can also test out different trading strategies or styles of trading to establish what aligns best. They can better learn how to use both technical and fundamental analysis to make more informed trading decisions. They can also discover how to use algorithmic trading, one of the platform’s most sought out features. The trader can do all this without putting real money at risk, thereby gaining the confidence and skills needed to move to a real (live) trading.
More on automated (algorithmic) trading on MetaTrader 4
Automated trading on MetaTrader 4 is an incredibly convenient tool for a trader looking to increase speed, volume of trades, accuracy and efficiency. It’s also a great way to reduce the risk of emotions driving trading decisions. This is because trading, be it forex trading, commodities trading or metals trading, evokes a range of feelings. This ranges from fear, to greed, to arrogance, to irrational impulsion. When these feelings are what drive the execution of trades, rather than objective research or analysis, the likelihood of adverse trading outcomes rises exponentially.
Automated trading mitigates this risk significantly. But how does it do this? Well, trading robots are used to execute trades based on predefined criteria. They will enter or exit trades on the basis of preestablished rules. But they are able to do this at the speed beyond what humans are capable. They’re also very accurate (albeit not without error) so monitoring your trades remains key.
5. Moving to a live trading account.
Once the trader has gained the necessary experience via the demo trading account, they’ll typically move onto live trading. This entails signing up for a real trading account, funding it with real money, and then commencing trading via the MetaTrader 4 platform if this is what their broker offers.
T4Trade is a powerful, regulated broker that has amassed traders from many different countries worldwide. The broker provides its traders with the MT4 platform to ensure a flexible and secure trading experience.
T4Trade traders have access to more than 300 trading instruments across 6 asset classes. They also enjoy:
- fast execution speeds
- simple and quick withdrawals/deposits
- competitive spreads
- flexible leverage
- multiple trading accounts to meet varied levels of expertise, objectives and needs
- a top-tier 24/5 resourceful multilingual customer support via email or Live Chat.
T4Trade traders also have access to a wealth of trading related educational resources to widen their scope of knowledge and access to MetaTrader 4 . This is made possible by T4Trade’s online Academy in which traders can access a diverse varieity of videos, podcasts, webinars, and eBooks. This material covers a broad scope of trading related topics so that you can make more insightful trading decisions. In addition, T4Trade’s blog page is jam packed with different articles providing useful tips, concepts and strategies related to trading.
T4Trade – Economic Calendar
Further, T4Trade’s real-time Economic Calendar assists a trader to monitor current and upcoming financial activity and indicators, and stay informed of global economic news at their fingertips. The calendar is particularly helpful for staying up to date with key market-moving economic indicators such as Gross Domestic Product (GDP), Industrial Production Index (IPI) (US), Consumer Price Indices (PMIs) and others. It can also be used to plan trades around the release of economic data or events that are anticipated to impact the markets, and to adjust trading portfolios. Finally, traders can also enjoy T4Trade’s Live TV to get daily Monday to Friday trading analysis and tips.
Aviso legal: Esta informação não deverá ser considerada como aconselhamento ou recomendação ao investimento, mas apenas como comunicação de marketing.
