If you want to diversify your trading portfolio, start trading with the XM MT4 trading platform as the most reliable platform to run a successful trading journey.
Discussing XM Global Limited, it is a globally licensed platform that is successfully known as an online broker. It makes the whole trading experience to be an easy and efficient one for beginners and advanced traders.
About XM global trading platforms
XM Global offers various trading platforms for clients to perform a successful trade execution and carry out Forex market analysis.
The best thing about XM trading platforms is that they are compatible with both Mac and Windows. You can even use it for the devices of Android and Apple.
Few key indicators which are displayed by the XM trading platforms are:
- Live market prices with symbols of various trading instruments
- Chart window for showcasing indicators, historical prices, or other tools
- Pending, active, and all closed trades
XM trading platforms are available in two main types: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). You can openly choose the trading platform which suits your trading needs and match the current market conditions.
What are the important features of the XM MT4 platform?
- Over 1000 Instruments for trading including Forex, CFDs, and Futures
- Available with more than 1000 instruments such as CFDs, Forex, and Futures
- Spreads at the ratio of 0.6 pips
- Full functionality of EA (Expert Advisor)
- 1 Click Forex Trading
- Offers Technical Analysis Tools including 50 indicators with latest charting tools
- 3 Trading Chart Types
- Micro Lot Accounts
- Hedging is also involved
- VPS Trading Functionality
How can you install XM MT4?
- Download the platform terminal with a click on the .exe file.
- Once the file is completely downloaded, you can straight away run the file.
- A login window will pop up if you launch the .exe file for the first time.
- Enter the data for either demo or the real account.
How can you place pending orders in XM MT4?
To place pending orders with XM MT4, you can choose “pending order” in other types.
The order is executed only if the prices have reached the predefined “buy” or “sell” prices. For instance, the sell order can be placed automatically if the 1 USD is equal to 100 JPY.
Upon placing the pending order, a dropdown menu displays “sell limit” or “buy limit”. Options of “sell stop” and “buy stop” are unavailable.
How can you close Orders with XM MT4?
For closing an open position, click the “X” option in the Trade tab located within the Terminal window. You can also right-click the line order on the trading chart and choose the “close” option.
If you want to close just a small part of the position, you have to right-click on that open order and choose the “modify” option. Next, select the option “instant execution” and see which part of that position you want to close.
In short, closing and opening the trades on MT4 is extremely intuitive, and you can do this with just one click.
Why choose XM MT4 (MetaTrader4)?
No doubt, MT4 is a trading platform that is a traditional one to have an excellent trading experience. However, for beginner traders, using the MT4 platform is a simple and easier approach than MT5.
MT4 has vast tools, charts, and indicators to make your trading experience a worthwhile experience.
In addition, a variety of customer indicators on MQL4 language and developed EAs are also part of the XM MT4 platform. Those programs which are developed with the MQL4 language cannot be run on the MT5 platforms.
Access the MT4 trading platform tutorial guide for beginners
- Double-check the icon of XM on the desktop for launching the trading platform.
- Choose the trading server. Click the “next” option.
- Select the option “existing trade account” and enter MT4 ID & password. You can use the same trading account credentials for the quick login to access the member’s area.
- Click the “finish” option.
Which instruments can you trade on MT4 trading?
With the MT4 platform, you cannot trade stock CFDs. It is just available for the MT5 trading platform. However, on XM MT4, you can trade on precious metals, Forex, energies, and stock indices.
Step by step guide on how to open an MT4 trading account
- Open the XM homepage and click the “live account” option. A new window will appear to visit the XM Global Real account page for registration.
- Fill the given online registration form with all your required details on it.
- Choose one from two, i.e., MT4 or either MT5 trading platform.
- Pick the account type with which you want to trade with.
- Click the option to proceed to move to the next page. In the following form, you must mention your trading account as the investor and your trading knowledge.
- Create a strong password for your selected trading account. It should be based on lowercase letters, with two numbers and uppercase letters.
- Read all the terms and conditions with policies carefully and click the option of “accept”.
- Click the option “open real account.”
- You will receive a confirmation link in your provided email. Click on the link and finish the process of account registration.
- A window of the XM member’s area will appear to display the MT4 ID number. Enter your desired password and click the “login” option.
Note: If you did not receive any confirmation link in your mail ID, you can start the process again and follow all the steps accordingly.
Bottom line
Before you start trading with the XM MT4 platform, ensure you have collected enough information on using the platform for a successful trading experience.
A demo account on the MT4 platform is a great experience for the new traders to learn the latest strategies and practice professional trading tools. Take help from educational guides or tutorials and create an account with the XM MT4 platform right now.