MetaTrader 4 (MT4) is a free trading platform developed by MetaQuotes Software and released in 2005. For most of the last two decades it has been the default platform for retail forex and CFD trading worldwide. This guide explains what MT4 is, why it became the industry standard, and what it can do.
Why MT4 became the industry standard
MT4 arrived when retail forex was growing fast, and it hit a sweet spot: lightweight, stable, and easy for brokers to deploy and for beginners to learn. Brokers license it from MetaQuotes and connect it to their own pricing, so you download one MT4 client and log in with your broker’s server and credentials. Because so many brokers adopted it, a vast third-party ecosystem of indicators and automated strategies grew around it - which in turn kept traders on the platform.
Core features of MetaTrader 4
- Clean, reliable charting with 9 timeframes and dozens of built-in indicators.
- One-click trading and the standard market, limit and stop order types.
- Expert Advisors (EAs): automated trading robots written in MQL4.
- Custom indicators and scripts from a massive community library.
- Built-in strategy tester for back-testing EAs on historical data.
- Mobile and web versions that sync with the desktop terminal.
What MT4 is not built for
MT4 was designed around forex and CFDs. It does not natively handle exchange-traded stocks or futures with depth-of-market data, and it offers fewer order types and timeframes than its successor. If you need those, MetaTrader 5 is the better fit - see our MT4 vs MT5 comparison and our guide to MetaTrader 5.
Getting started
If you’re new to the platform, our step-by-step How to Use MetaTrader 4 tutorial walks through setup, charts and placing your first trade. Most brokers in our broker reviews that support MT4 also offer a free demo account to practise on.
How to download MetaTrader 4
MT4 runs on Windows, macOS (via a wrapper), Android, iOS and the web. See our MetaTrader 4 download page for the official links and install steps for each device.
Risk note: Trading forex and CFDs carries a high risk of losing money rapidly due to leverage. A platform doesn’t change that - practise on demo first and never risk more than you can afford to lose.
Key takeaways
- MetaTrader 4 is MetaQuotes’ free, long-standing forex and CFD platform.
- Its reliability and huge third-party ecosystem made it the industry standard.
- Expert Advisors let traders automate strategies using the MQL4 language.
- For stocks, futures or more order types, MT5 is the more capable option.
- Download it for any device from the official download page.
Frequently asked questions
- Why is MetaTrader 4 still so popular if MT5 exists?
- MT4 has an enormous ecosystem built over nearly two decades - thousands of custom indicators, Expert Advisors and broker integrations designed specifically for it. For pure forex trading it does everything most traders need, so many brokers and traders stick with it out of familiarity and compatibility.
- Is MetaTrader 4 free?
- Yes. MT4 is free to download and use; you only need a demo or live account with a broker that offers it. FinPip links only to the official MetaQuotes download source.
- What is an Expert Advisor in MT4?
- An Expert Advisor (EA) is an automated trading program written in the MQL4 language that runs inside MT4. It can analyse the market and place trades automatically according to its rules. MT4's huge EA library is one of the main reasons for its lasting popularity.
Comments
No comments yet. Be the first to comment.