How to install MetaTrader 4 on iOS?

If you’re a forex trader, it’s likely you know all about MetaTrader 4 (MT4), arguably one of the most popular trading platforms in the world. And it’s hardly surprising the level of repute the system has earned considering its innovative trading features, like automated trading, advanced technical analysis, real-time trading, and more.

Complimented by a user-friendly, intuitive interface that can be tailored to the needs of both beginner and professional traders, it stands to reason that MT4 is the go-to currency trading platform globally.

MetaQuotes Software Corp. launched MT4 almost two decades ago. Although originally confined to desktop, and to some degree on laptops, the exponential rate at which smartphone technology progressed saw the MetaTrader 4 platform move to iOS and other mobile devices very quickly.

Steps of installing MetaTrader 4 on your iOS device

Step 1: Ensure your device meets the requirements for installation

MetaTrader 4 can be installed on an iPhone, iPad, and iPod touch running iOS 12.0 or later to avoid compatibility issues. Furthermore, stable internet connectivity is required to download the application and to be able to use the platform effectively once installed. Also, while not obligatory for installation, remember that you will need to have registered with a broker to eventually start trading on MT4.

Step 2: Installing MetaTrader 4 on your particular iOS device

Now that you’ve established that you meet the basic requirements to install MetaTrader 4 on your phone, head over to the App store, tap on the search icon, and type MetaTrader 4 in the search bar. The search results should come up with the MetaTrader 4 app with the developer listed as MetaQuotes Software Corp., the official developer of the platform.

Once you have found the MetaTrader 4 app, tap the GET button on the right, and the download will begin. Once the app downloads, it will automatically install on your device.

Step 3: Accessing your existing trading account or opening a new one

Once MT4 has been installed on your phone, you will be prompted to either log into an existing trading account or will have to open a new one to access the app. Alternatively, you will be prompted to ‘Open a new demo account’.

If you already have a trading account, select the ‘Login with existing account’ option. You’ll then be required to search for your broker’s server by typing in their name. Once you’ve located them on the app, you’ll need to enter your username and password and hit ‘Login’.

If for any reason you haven’t already opened an account with a broker, you can go the route of opening a demo account. Opting for a demo account will require you to select a server, choose a starting balance and establish the amount of leverage you want to use.

Step 4: Customising the MetaTrader 4 platform to suit your specific needs

Once you’ve gained access to MetaTrader 4, you’ll be given the option to tailor the interface to your particular requirements and goals.

For one, you can customise charts both visually and by choosing different timeframes. You can also pick your favourite chart type to display relevant data (e.g. line chart, bar chart, candlestick, etc) and add your preferred indicators. These include moving averages, Bollinger Bands, Parabolic SAR, Ichimoku Cloud, and many others. You can also set price alerts for your favourite instruments, as well as adjust your account settings like leverage, starting balance, etc.

You are now ready to begin trading!

Step 5: Sync between your mobile and desktop platforms

MetaTrader 4 allows for syncing between your  mobile and desktop platforms. This means any open positions, your trade history and your account data will automatically sync across both devices. This makes trading incredibly flexible, accommodating more stationary traders as well as those who prefer trading on the go, wherever they are, and at any time.

Why opt for a demo trading account?

A demo account is a great way for a new trader to learn how to use the MetaTrader 4 platform. Alternatively, trader profesional can use a demo trading account to test out even the most complex of trading strategies to determine outcomes, and make adjustments where necessary when implementing them in real life.

A demo account offers a simulated trading environment that mimics real life trading conditions, giving traders a good feel for what real trading would be like. Using virtual money, the trader can enter and exit positions, and assess outcomes, to see what they did right, and where they may have gone wrong. Without putting their own money at risk, the trader can spend as much time as they need practicing on the platform, until they’ve acquired sufficient skills and the confidence to move to live trading.

Additionally, traders can also use the demo trading account to learn how to use analisis teknikal. The MT4 platform has some of the most robust technical tools and economic indicators to help traders make informed trading decisions. Technical analysis is a core component of all types of trading so becoming skilled in knowing how to apply it is crucial.

Why trade on your mobile device?

There are many reasons why traders choose to install the MT4 platform on their mobile device.

1. For individuals with limited time to trade, having the ability to use the platform at any given moment, from anywhere, internet connectivity permitted, offers access to trading opportunities that may have otherwise been unavailable.
2. The overlap in trading sessions sees levels of volatility and liquidity rise and fall dramatically. Timing is therefore of the essence for somebody to be able to react in time. Having access to the MT4 platform on your mobile device means you’ll be able to take advantage of market-moving events as they arise, regardless of where you are.
3. The MT4 mobile app provides real-time alerts and notifications, keeping traders constantly updated on significant market movements. This feature enables swift responses to price changes, ensuring traders stay informed and ready to act when necessary.
4. With MT4’s one-click trading features, traders can execute trades incredibly quickly, allowing for faster reactions to fluctuations in the market.
5. The app offers robust security features including data encryption and two-factor authentication. This offers increased reliability and minimal downtime. 
6. Even on mobile, traders can use automated trading strategies through Expert Advisors (EAs), offering more flexibility in executing trades.

Mobile trading and risk management

While having access to MetaTrader 4 on iOS is a great way to access global markets at any time, there are risks associated with having the ability to trade 24/5. For one, the ease of access may encourage impulsive trading or even overtrading, leading to decisions driven by feelings like stress, anxiety or panic, instead of data driven decisions, resulting in poor trading outcomes.

Furthermore, being able to trade anywhere may also see you in locations rife with distractions, leading to rushed decisions, mistakes, or missed opportunities. This makes effective risk management essential so as to protect your funds.

Some of the more popular risk management measures include setting stop-loss or take-profit orders to limit losses (or to lock in profits). Furthermore, the trader will likely be more mindful about position sizing, as well as their use of leverage. How you execute trades should be aligned with your experience, budget and tolerance for risk.

Deploying proper risk management measures will help you keep on track, and more focused. Effective risk management also includes ensuring your trading psychology is on point. Emotive trading often times leads to adverse trading outcomes. So, ensure you get a good handle on your feelings, and ensure you enter trades based on proper analysis, reasoning, and data.  

Trading with IronFX

Becoming an IronFX trader means gaining access to a high-quality, flexible trading experience, multiple asset classes, an extensive range of account types, and fast trade execution. Through this international broker with clients across the globe, you’ll also be able to enjoy seamless withdrawals and deposits, and market access via the MetaTrader 4 (MT4) trading platform, arguably one of the world’s most popular trading systems amongst global traders. The IronFX Academy also offers an abundant source of educational resources to boost one’s skills and acquire fundamental trading insights.

Disclaimer:
This information is not considered investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced or hyperlinked in this communication.