MT4 trading account
- Published: Wednesday, 25 April 2018 18:17
- Written by Super User
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MT4 trading account
MT4 trading terminal gives an opportunity to interact with two accounts’ sorts:
- demo (training);
- real trading.
Demo accounts allow working within training mode, there is no real money, but at the same time work out a productive commerce scheme. These accounts have the identical functions as real accounts. The inequality is that the demonstration accounts can be started without corresponding enclosures, the user won’t be able to claim profit from them.
Opening demo MT4 trading profile
To unbar a demo profile, one needs to execute the menu command "File - open_account_iconOpen account" or the same command upon the scope bill of fare situated within "Navigator - Accounts" section. In addition, during the first run of the program, the user will be asked to start a demo profile to train himself upon trading.
Starting the new profile consists of few stages:
- Select a server.
The first step when opening MT4 profile is to select a commerce halt for connection. The list shows the addresses of available servers, company names and ping. The server with the lowest ping is the most preferable. For further check the ping of available servers, the user can click the "Scan" button, after which the data on the ping will be updated.
Also in this window is the ability to tag a new linking server. To do this, click the "Add a new server to add a new server" or "Insert" button. The server can be indicated in few ways:
- Put the server's address and port (separate the numerals by colon);
- Enter the domain’s name of the server and the port(separate the numerals by colon);
- Enter the right brokerage company’s designation.
After halt’s indicating, it’s high time to press the "Enter" key. To delete one of the halts, distinguish it and screw the "Delete" key.
- Type of MT4 trading account. At this phase, the user can indicate the details of an existing commerce profile or begin to create the new one. There are three options in this window:
- Existing trading account - if you select this option in the "Login" and "Password" fields, you must enter the appropriate account information. Under these fields, the name of the trading halt selected in the antecedent step is reflected. When you screw «Finish», you will be authorized with the definite profile within the definite platform;
- New demo account - if this option is selected and then the "Next" button is pressed, you will proceed to specify personal data for starting a new demo profile;
- New real profile – if you have selected this variant, you’ll need to indicate your personal data for sending an inquiry to start a real profile.
- Personal Information. The next stage of account opening is the filling of personal data. When opening MT4 trading account, the following data will be requested:
- Name - is the user’s full name;
- E-Mail - the e-mail address;
- Phone - contact phone;
- Type of account - the type of account that is determined within the brokerage company’s list;
- Deposit - the size of the initial deposit in the base currency. The minimum size is 10 units, the currency should be fixed in advance;
- Deposit currency is automatically set depending on the selected account type;
- Leverage - the ratio of loaned and user’s funds for the rialto’s operations;
For the further stages of registration, you must check the box "I agree to receive news by mail". Upon completion of the successful registration, will appear section which maintains opened account’s data:
- "Login" – profile’s numeral;
- "Password" – accessing password;
- "Investor" – investor’s password (binding mode, where you can view the status of your profile, dissect the price dynamics, etc., but you cannot conduct trading operations).
After the registration is completed, a new invoice appears in the "Navigator - Invoices" section, and you can already work with it. In this case, the server also sends to the terminal an email with the login and passwords for this account. This letter can be found in the "Terminal - Mailbox" window. In addition, after the successful registration of the account, it is automatically authorized.
Opening a real MT4 trading account
Real MT4 accounts, unlike demo ones, cannot be opened from the terminal. They are opened by brokerage companies under certain conditions. Real accounts are marked with an appropriate icon in the "Navigator - Invoices" window. To precede working with them, you need to perform authorization.