If you have already chosen a suitable broker to work on forex, and also created an account with him, then you can now start trading. To access the financial market, special terminals are used, which exist in the browser, desktop and mobile versions. The desktop version is considered the most optimal. Since it has more features than the other two options, it also allows you to interact with the market as effectively as possible.
How to download the terminal
If you already have an account, you can download the terminal by logging in with your username and password. But most brokers allow anyone to do this without registration.
After logging in to your personal account, you need to go to the section where the platforms and applications are located. There should be a link to download the terminal.
If you click on the download button, you will see a page with a selection of programs. Most brokers offer to install MetaTrader 4 or MetaTrader 5. These are the most popular trading platforms in the world. And the process of installing them is no different. You also need to choose the version for Windows, iOS, or Android. In this case, we are looking at an example of an installation for Windows.
After selecting the appropriate terminal, click the "Download Windows MetaTrader 4" button and specify the download folder on your computer.
Next, you will need to open this folder and double-click on the download file.
Installing the terminal
The next steps are practically no different from the standard process of installing any other software on a PC.
After activating the installation file, click the "Run" button in the window that opens.
The next step is to accept the terms of the license agreement, which no one ever reads. To do this, put a check mark in the empty square and click "Next".
By default, the terminal is installed on disk C.
If you want to choose a different installation location, you need to click "browse" and specify it.
Choosing a different, separate folder is convenient because it allows you to install MetaTrader from different brokers. At the same time, you can create separate folders for each terminal, and all of them can eventually work in parallel.
After selecting the folder to install, click "Next". Now it remains to wait a bit until the terminal installation process is completed, and click "Done".
When the installation is complete, the terminal startup icon will appear on your desktop. This is usually the logo of the broker from whose website you downloaded the program.
If you want, you can set the display of the MetaTrader program in the Start menu or on the taskbar.
Configuring the terminal
Before you start trading on Forex, you need to make basic settings in MetaTrader.
The first step is to select the server. To do this, double-click on the terminal icon and select the appropriate server in the list that opens. In front of each of the options, the speed will be shown – it is better to choose the fastest.
If you need a demo account, you need to find a server with this designation and click on it. Then click the "Next" button.
In the next window, you will need to specify the basic information:
- phone number;
- deposit amount;
- the leveragelevel.
If you have chosen a demo account, you can specify anything here. The main thing is to set the amount and leverage that is suitable for testing your trading strategy. You also need to correctly enter your country code by entering the digits of the mobile number.
In the case of a real account, all data must correspond to the information in the broker's personal account. After checking the box next to the line "I agree...", you need to click "next" again.
As a result, a window will open in which you only need to click the "Done" button.
This window also contains your username and password. When working with a real account, it is better to save them. If you have selected a demo account, you don't need to do this – if the virtual deposit is drained, you can open a new one in a few minutes.
After performing the described actions, the terminal opens. Usually, it already has windows running for 4 currency pairs.
They can be buried by pressing the red cross, or display a single graph on the entire screen.
The visual elements in the terminal are easy to customize. To change them, right-click on the chart field.
As a result, a menu will appear that allows you to configure the terminal for yourself. In it, you can change the color of the background and candlesticks to your liking, set indicators, display the trading volume, and so on. You can also delete panels, swap them, or add new ones in the terminal.
After making all the desired settings, click "OK". Now your terminal is ready to trade, and you can start opening trades.
If you need to update MetaTrader, you can do this by clicking on the following menu items: Help-Check for desktop updates — The latest beta version.