MetaTrader4: An informational platform for online trading.

MetaTrader 4 provides Alpari clients with a wide range of capabilities:

• Different ways to execute orders: Instant Execution and Request Execution;
• Transaction confidentiality;
• Comprehensive Technical Analysis: a large amount of embedded indicators and line tools, the capability to write one's own scripts and indicators, and periodicity support (from minutes up to monthly charts);
• Dow Jones Forex news feed, a specialized selection of information in real time, led by professional currency traders;
• MetaQuotes Language 4, an embedded programming language that develops trading strategies (Expert Advisors), which can easily be evaluated based on trading history;
• A multilingual, intuitive interface;
• Quote export in real time through DDE.

Before opening a live account, we would suggest you open a demo account, where all your losses and profits are virtual.

Mobile Access to the Forex

Thanks to modern technologies, traders are not tied to their desk yet still can make transactions in financial markets around the world!

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  MetaTrader 4 PDA Edition

  With MetaTrader4 PDA Edition, you can get quotes, analyze charts, receive news, as well as open and close positions.

  Metatrader4 PDA Edition works on pocket PCs with Windows CE or Windows Mobile operating systems.

  • Download
    MetaTrader4 PDA User Guide
  • Download
    MetaTrader4 PDA (CAB – file to install from pocket PC)
  • Download
    MetaTrader4 PDA (Installation from a stationary computer via ActiveSync)
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  MetaTrader4 Smartphone Edition

  Metatrader4 Smartphone is a full-scale trading terminal with charts, technical analysis indicators, audio indicators and news feeds. Metatrader4 Smartphone works on smartphones with the Microsoft® Windows Mobile® Smartphone operating system.

  • Download
    MetaTrader4 Smartphone User Guide
  • Download
    MetaTrader4 Smartphone (Installation on phone)
  • Download
    MetaTrader4 Smartphone (Installation from a stationary PC)
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  WAP-site

  Fast access to important information from your mobile phone. On our WAP-site, wap.alpari.org, you can read news, get current quotes and check the balance of your account.

MetaQuotes Language 4 is a new trading strategy programming language.

MQL 4 allows you to write your own program-experts for autotrading and, ideally, for realizing your trading strategies. Using MQL4, you can also write your own technical indicators, scripts and function libraries.

Reading the MQL4 Manual will provide you with basic knowledge in writing autotrading systems and technical indicators.

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  MetaTrader4 Installation

  • 1. Download the MetaTrader setup MetaTrader4 Trading Terminal: Alpari
    In order to install the program, open the downloaded file and follow the installation guide.
  • 2. Choose your preferred setup language and click "Next".
    MetaTrader Setup: Choose installation language.
  • 3. The following window appears:
    MetaTrader Setup: Step Two.
  • 4. Click "Next" after reading the notice. In the next window, check the "Yes, I..." box if you agree with the terms of the license agreement. Then click "Next".
    MetaTrader Setup: License agreement.
  • 5. Select the program’s destination folder and click "Next".
    MetaTrader Setup: Choose installation language.
  • 6. In the following window, click "Next" to start copying files and install MetaTrader on your computer
    MetaTrader Setup: File copy.
  • 7. Once you press the "Next", the installer will set up MetaTrader on your computer
    MetaTrader set up: copying files on the computer.
  • 8. Once the installation is complete, you can launch MetaTrader right away by checking the box that says "Launch MetaTrader 4". Then press "Finish".
    MetaTrader Setup: Finish.
  • 9. If you're installing the program for the first time, you'll be asked to fill out a form to open a demo account.
    Form to open a demo account.
  • 10. After choosing your preferred leverage size in "Leverage" and deposit value in "Deposit",
    check the box "I accept to subscribe into your newsletters" and click "Next". The following window will appear. Click "Next".
    Select a server to open a demo account.
  • 11. You will then be presented with a login and password for your demo account.
    Password and login for your demo account.
  • 12. Once you press "Finish", the client terminal will launch and you will have access to your demo account.
  • 13. You can change the interface language at any time by choosing the menu option View -> Languages -> Russian. Some of the languages available include: Russian, German, French, Arabic, Farsi, Polish, Japanese, and Chinese.
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  Real-time quotes in the “Market Watch” Window.

  MetaTrader4 informational trading terminal.xx

  MetaTrader consists of several elements:

  • 1. Main Menu;
  • 2. Toolbars;
  • 3. "Market Watch" window;
  • 4. "Navigator" window;
  • 5. Charts;
  • 6. "Terminal" window.

  The main menu and toolbars enable you to quickly perform operations and change the terminal’s settings. In the "Market Watch" window, quotations for the instruments you have chosen are shown in real time. With the help of the "Navigator" window, you can quickly switch to another account, add indicators on charts etc. The charts are dynamic models of the quotations for a certain instrument. Aside from shifts in price, they include different analytical objects: line tools, technical and user indicators, text and geometrical figures. Technical indicators (described in detail below) will help to forecast future quote fluctuations. In the "Terminal" window, you can access a comprehensive history of trading and nontrading (deposit/withdrawal of money) operations, as well as open positions and orders. In the same window, you can access real-time financial news from leading news sources and receive messages from your broker via internal MetaTrader mail.

  Real-time quotes in "Market Watch".

  Let's look at these and other features of the MetaTrader informational trading terminal in more detail.

  "Market Watch" window

  This window provides you with real-time quotations. «Market Watch» can be enabled/disabled by pressing the Ctrl+M key combination, or by using the "View -> Market Watch" menu sequence, or by clicking this button on the "Standard" toolbar.

  Right-click the mouse on the "Market Watch" window to produce the context menu:

  • "New order" — enables the window to open/close a position or to place a new pending order;
  • "Chart window" — enables the chart of a currency pair or CFD;
  • "Hide" — deletes the specified symbol from the list in the "Market Watch" window;
  • "Hide all" — deletes all symbols from the list in the "Market Watch" window which are not used (if you have open positions or charts, its symbols will not be deleted);
  • "Show all" — displays all instruments in the "Market Watch" window;
  • "Time" — adds a column to "Market Watch" showing the time of the latest quotations.
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  Charts

  In MetaTrader 4 you can see as many real time charts as you wish, all on one screen, for any currency pair or CFD, and for any time period.

  The following types of charts are available in MetaTrader 4:

  • 1. Line Chart. In this chart, the x-axis is for the different time periods (minutes, hours, days, months etc.), and the y-axis is for the price. The point on the chart shows the close price for the period, i.e. the bid of the last quote for this period. All the sequential points are joined by lines. It is recommended to use these charts only for short time periods (up to 5 minutes). In order to change the chart to a line chart, press the button on the "Charts" toolbar, or use the Alt+3 key combination or the "Charts -> Line" menu sequence.
    Example of a line chart in MetaTrader.
  • 2. Bar Chart This chart is created with the use of bars, each of them showing a a maximum price “high” (top of the bar), a minimum price “low” (bottom of the bar), an opening price “open” (left horizontal little line) and a closing price “close” (right horizontal little line) for the specified period of time (for example, an hour). It is recommended to use these charts for periods of 5 minutes and more. In order to change the chart to a bar chart, press the button on the "Charts" toolbar, or use the Alt+1 key combination or the "Charts -> Bars" menu sequence.
    Example of a bar chart in MetaTrader
  • 3. Candlesticks These charts are created in the same way as bar charts. Candlesticks charts were very popular in the 80-90s because of their clear graphics. Candlesticks were originally created only for day charts which is why these days they are mostly used for a daily period. This method of technical analysis is based on the correlation between both closing and opening prices within the same trading day, and the closing price of the previous session and the opening price of the next session. A candlestick differs from a bar by shape. A square is drawn between opening and closing prices, which is called the real body. The thin vertical lines above and below the body are called shadows and show the maximum and minimum prices within a specified period of time, respectively. Depending on the closing and opening prices the real body can be white (empty) or black. When the body is white, the closing price was higher than the opening level. When the body is black, the closing price was lower than the opening level. In order to change the chart to a candlestick chart,press the button on the "Charts" toolbar, or use the Alt+2 key combination or the "Charts -> Candlesticks" menu sequence.
    Example of candlestick chart in MetaTrader

  In order to create a new chart for a certain currency pair, right-click on the «Market watch» window and then select the "Chart Window" item from the context menu.

  Create new chart

  By left-clicking the mouse you can drag and drop any selected currency pair or CFD into any open chart window.

  Chart period — the period displayed in one bar or candle. For example, if you create a 15-minute (M15) bar chart, then each bar will have the price data for the corresponding 15 minutes.

  In MetaTrader, you can create charts with the following time intervals: 1, 5, 15, 30 minutes (M1, M5, M15, M30 respectively), 1 hour (H1), 4 hours (H4), 1 day (D1), 1 week (W1) and 1 month (MN). In order to change a chart’s time period, use the "Periodicity" toolbar.

  "Periodicity" toolbar

  Right click anywhere on the chart to produce the context menu for quick access to chart settings.

  Chart context menu

  Chart Periodicity

  • 1. Choose "Periodicity" and select a time period from the drop-down menu or press the button on the "Charts" toolbar;
    The "Charts" toolbar
  • 2. Select "Refresh" if an error occurs or if there are "gaps" on the price chart. All missing data will be uploaded from the server and then appear in the chart;
  • 3. Select "Grid" to hide/unhide the gridlines in the chart;
  • 4. Select "Volumes" to show/hide tick volume (the number of quotes in any period of time);
  • 5. "Zoom in" / "Zoom out" will enlarge or minimize the chart’s scale. You can also use the / buttons on the "Charts" toolbar or press the "+" or "-" keys;
  • 6. "Save as picture…" will save the chart as a *.gif or a *.bmp file;
  • 7. "Properties…" (or the F8 key) enables a window where you can change chart settings and by selecting the "Colors" tab, you can change the color of any element on the chart.
  Color tab of the Chart Properties window
  Common tab of the Chart Properties window

  You can change other settings in the "Common" tab.

  Please take note of the following options:

  • "Offline chart" — this chart is not being updated with new quotes. Once you open the chart offline (the "File -> Open autonomously") the option becomes automatic;
  • "Chart shift" — allows/prohibits you to shift the chart from the right edge of the window. You can also press the button on the "Charts" toolbar or use the "Charts -> Chart shift" menu sequence.
  • "Auto scroll" — enable/disable the function to scroll the chart automatically to the left once the new tick come. Another way is to press the button of the "Charts" toolbar or to use the "Charts -> Auto scroll" menu.
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  Open/Close a Position

  If your analysis has shown that a currency pair chart will grow, you should buy. We always buy at Ask price. To buy a currency pair means to buy the currency that stands first in the abbreviation, and sell the second. In this case, making a transaction is betting on the chance the currency you buy will strengthen and the currency you sell will weaken. That is, for a unit of the first currency, you will get more units of the second one or, in other words, the rate of the currency pair will rise.

  If your analysis has shown that the given currency pair chart will fall, you should sell. We always sell at Bid price. To sell a currency pair means to sell the currency, that stands first in the abbreviation, and to buy the currency, which is the second. In this case, making a transaction is betting on the chance that the currency you sell will weaken and the one you buy will strengthen. That is, for a a unit of the first currency, you'll receive less units of the second one or, in other words, the rate of the currency pair will fall.

  In order to open a new position you need to open the "New Order" window. There are several ways to do this:

  • Right-click on the «Market watch» window or in the "Terminal" window (the "Trade" tab) and choose the "New Order" item in the context menu;
  • Press the F9 key;
  • Use the "Service -> New Order" menu sequence;
  • Right-click on the chart and select the "Trade -> New Order" item in the context menu;
  • Double-click on a currency pair in the "Market Watch" window.

  After carrying out any of the aforementioned actions, a new "Order" window will appear.

  New "Order" window (Instant Execution)

  There are two ways of making deals: "Instant Execution" and "Request Execution".

  Instant Execution means that you do not have to request quotes from the dealing center, as you see real-time quotes in the "Order" window. Once you decide to but or sell at the current price, you can open a long or short position by pressing the "Buy" or "Sell" buttons.

  Quotes for currency pairs traded using "Instant Execution" in the "Market Watch" window are executable, the quotes that the dealing center offers for making a deal.

  Quotes for currency pairs traded using "Request Execution" in the "Market Watch" window are indicative and you cannot make a deal without a prior request. In this case when you open the "Order" window, the buttons "Buy" and "Sell" are inactive but a new "Request" button appears.

  New "Order" window ("Request Execution")

  When you press the "Request" button, the dealing center will show current quotes.

  Request quotes

  Once you see the quote, it remains dealable for several seconds. Once you press the "Buy" or "Sell" button and receive conformation, you have an open position. This position will appear in the "Trade" tab of the "Terminal" window.

  Deal execution confirmation

  There are many advantages to using "Instant Execution" rather than "Request Execution". "Instant Execution" only takes a few seconds to make a deal compared to 30-40 seconds using "Request Execution" (on a demo account, all operations are made within several seconds, as demo accounts are quoted automatically, while live accounts are quoted manually).

  Additionally, when using "Request Execution", quotes are indicative, so they may differ from those offered by the broker for making a deal.

  Thus, the ability to deal using "Instant Execution" should be an important factor when choosing a dealing center. Alpari has traded every instrument with "Instant Execution" since 2005.

  Before you make a deal, you can change its details in the "Order" window:

  • "Symbol" — the currency pair or CFD you choose to make a deal;
  • "Volume" — the deal's volume in lots (sizes of 1 lot at Alpari are shown in "Contract Specification");
  • "Stop Loss" — the level of the Stop Loss order;
  • "Take Profit" — the level of the Take Profit order;
  • "Commentary" — any notes on the deal.

  In order to close a position, select it in the "Trade" tab of the "Terminal" window and right-click to access the context menu. Select "Close order".

  The context menu of the "Trade" tab in the "Terminal" window

  Left-double-clicking on the open position in the "Trade" tab of the "Terminal" window will have the same result. The "Order" window will appear, where you will see the "Close position number …" button.

  Close position ("Instant Execution")

  Using "Request Execution", you first need to request quotes from the dealing center before closing the position. . After pressing the "Request" button, the "Close position number …" button will become active.

  Close position ("Request Execution" technology)

  If the market is stable, deals are executed at the quotes shown by the dealing center. However, when the market is very volatile, a quote that was offered a few seconds ago can become invalid (even before those several seconds, which are given to you to make a decision, run out). In this case the quote will be revoked and the "Requote" window with a new quote appears.

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  Stop Loss and Take Profit Orders

  Take Profit is an order to close a previously opened position at a market price more profitable for the trader than the price at the time of placing the order.

  Stop Loss is an order to close a previously opened position at a market price less profitable for the trader than the price at the time of placing the order.

  "Take Profit" and "Stop Loss" orders give you the ability to step away from the computer and not wait around for an outcome (whether favorable or unfavorable). Take Profit and Stop Loss orders will be executed automatically as soon as the price reaches the order level. Thus, once they are placed, you can easily turn off your computer and the orders will still trigger.

  You can place Stop Loss and Take Profit orders at the time of making a deal by filling in the "Stop Loss" and "Take Profit" fields in the "Order" window.

  Afterwards in order to modify the levels of Stop Loss and Take Profit orders, use the context menu by right-clicking on an open position or pending order in the "Trade" tab of the "Terminal" window and choose "Modify or Cancel Order". The "Modify Order" window will appear.

  The Modify Order window

  There is a limit for the minimum difference between the order and the market price. As a rule, you cannot place an order that is less than the size of the spread from the current market price.

  In order to modify the level of Stop Loss and Take Profit orders, fill in the "Stop Loss" and "Take Profit" fields. By pressing the red button (in our example "1.2228") you can copy this level into the "Stop Loss" field. By pressing the blue button (in our example "1.2234") you can copy this level into the "Take Profit" field. The value in the "Level" field defines the difference between the order level and the current price, which is displayed on the "Copy as" button.

  Once you fill in the "Stop Loss" and "Take Profit" fields, press the "Modify position number …" button. If the order has been modified successfully, a report will appear.

  Report on Successful Modification

  In order to delete a Stop Loss or Take Profit order, set its value equal to zero.

  Stop Loss and Take Profit orders will be executed in the following cases:

  • 1. The "Take Profit" order on an open buy position will be executed when the Bid price becomes equal to or higher than the order level.
  • 2. The "Stop Loss" order on an open buy position will be executed when the Bid price becomes equal to or lower than the order level.
  • 3. The "Take Profit" order on an open sell position will be executed when the Ask price becomes equal to or lower than the order level.
  • 4. The "Stop Loss" order on an open sell position will be executed when the Ask price becomes equal to or higher than the order level.

  The order will be executed if at least one quote in the quotes flow reaches the order level.

  Please keep in mind that in MetaTrader4, charts are created using Bid prices. Thus:

  • The minimum Ask price is equal to the minimum bar price (Low) plus spread.
  • The maximum Ask price is equal to the maximum bar price (High) plus spread.
  • The minimum Bid price is equal to the minimum bar price (Low).
  • The maximum Bid price is equal to the maximum bar price (High).
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  Pending Orders

  A Pending order is an instruction to open a position when the current price reaches the order level.

  There are four types of pending orders:

  • 1. Buy Limit — order to open a buy position if the Ask price becomes equal to or lower than the order level. The current price level is higher than the Buy Limit order level when the order is placed.
  • 2. Buy Stop — order to open a buy position, if the Ask price becomes equal to or higher than the order level. The current price level is lower than the Buy Stop order level when the order is placed.
  • 3. Sell Limit — order to open a sell position if the Bid price becomes equal to or higher than the order level. The current price level is lower than the Sell Limit order level when the order is placed.
  • 4. Sell Stop — order to open a sell position if the Bid price becomes equal to or lower than the order level. The current price level is higher than the Sell Stop order level when the order is placed.

  Types of pending orders

  In order to place a pending order, open a new "Order" window using one of the methods described in the "Open/close position" section and change the order type to "Pending Order".

  Placing a pending order

  The following options can also be changed in this window:

  • 1. "Symbol" - the currency pair or CFD you choose to make a deal;
  • 2. "Volume" - the deal’s volume in lots (sizes of 1 lot at Alpari are shown in "Contract Specification");
  • 3. "Stop Loss" - the Stop Loss order level which will activate once the pending order has been executed;
  • 4. "Take Profit" - the Take Profit order level which will activate once the pending order has been executed;
  • 5. "Commentary" - any notes on the pending order;
  • 6. "Type" - the type of pending order: Buy Stop, Buy Limit, Sell Stop, Sell Limit.
  • 7. "At price" - pending order level;
  • 8. "Expiry" - if the box has not been checked, the order is valid up until cancellation or execution. If the box is checked, the order is valid up until the time specified.

  In order to finish placing a pending order, press the "Place" button and it will be displayed in the "Trade" tab of the "Terminal" window.

  In order to modify or delete a pending order, select it in the "Terminal" window, right-click and choose "Modify or delete order" in the context menu. Press the "Modify" or "Delete" button depending on your desired action.

  Modify/Delete a pending order
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  Trailing Stop

  A Trailing Stop is an algorithm to manage Stop Loss orders.

  If you place a Trailing Stop (for X pips) the following occurs:

  • 1. No Stop Loss order will be placed until the open position is in a profit of at least X pips. MetaTrader then places a Stop Loss order X pips from the current price (in this case, at the breakeven point).
  • 2. Subsequently, each time the difference between the current price and the order level exceeds X pips, MetaTrader sends a command to modify the level of the Stop Loss order to a level X pips higher or lower than the current price. As a result, the Stop Loss order always stays in accordance with the current price.

  In order to place a Trailing Stop, select the necessary open position in the "Trade" tab of the "Terminal" window and right-click to open the context menu, where you can set Trailing Stop level.

  Placing a trailing stop

  A Trailing Stop is one of the most effective ways to maximize profit. If you correctly determine the value of Trailing Stop, your position won't close until price movement in your favor ends. Trailing Stop can significantly increase the profitability of your trading practice.

  In order for Trailing Stop to work, MetaTrader needs to be on and connected to the internet.

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  Quick Access with the "Navigator" Window

  The "Navigator" window gives you quick access to different program functions.

  "Navigator" window

  The list of functions are in drop-down menus and divided into 5 groups:

  • 1. "Accounts" — list of accounts. Double-click to switch to a different account.
  • 2. "Indicators" — list of available technical indicators. Double-click an indicator to add it to an active chart. You also can drag and drop to add an indicator to any chart. In order to do this, left-click and hold while shifting the indicator to the chart.
  • 3. "Expert Advisors" — list of available advisors. Expert Advisor is written in MetaQuotes Language 4 (MQL4) and can implement any trading strategy. It has access to the terminal's data and can make transactions automatically.
  • 4. "User Indicators" — list of all available user indicators, i.e. MetaQuotes Language 4 custom indicators written by you or other users of the client terminal.
  • 5. "Scripts" — library of user functions designed for storing frequently used blocks of user programs.

  To show a group's contents, press . To hide a group's contents, press .

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  Automate the trading process using Expert Advisors.

  If you want to avoid everyday manual routines and completely automate the process of trading and managing orders, you should use Expert Advisors. They also allow you to be more rational in your decision making process and keep track of the current market situation.

  Expert Advisors in MetaTrader are special programs, developed in the specialized language MetaQuotes Language 4 (MQL 4) designed to automate analytical and trading operations. Expert Advisors automatically analyze the current market situation, execute trading operations, and control open positions.

  The Expert Advisors testing technology uses historical data to test the long-term effectiveness of your trading strategies and get fairly accurate results in just a few minutes. This way you don’t have to wait for years to confirm the profitability of your trading strategy!

  MetaQuotes Language 4 is very easy to learn and understand even those who have little or no experience in computer programming. Thus, how to write Expert Advisors will not be covered in this guide.

MetaTrader 5 is the latest generation of MetaTrader, the world's most popular trading platform.

The main difference between MetaTrader 5 and previous versions of the terminal is its ability to work on several financial markets. Traders can now perform transactions not only on Forex, but also work with stock options, futures, and equities. MetaTrader 5 can also be used on an Electronic Communication Network (ECN).

MetaTrader 5 Features:

• Market Watch, a tool to review market depth;
• 5 order types, compared to the 4 in the previous version;
• 4 types of execution: Market, Instant, Request, and Exchange.

At the present time, this platform only has a trial version. A client will only be able to use the full functional capacity of this platform once it is opened for live trading. In order to work on MT5 in demo mode, you will need to download it from our site and open a new demo account through the terminal.