FAQ: Terminal MetaTrader 4
1. Account history disappeared from my MetaTrader 4.
- Right-click inside the Account History tab in MetaTrader and choose All History (or other interval) in the context menu.
2. How can I generate a trading Statement for my account?
- Trading Statements are e-mailed to clients at the end of every Trading Day (if a Client has traded on that day) and Month (even if a Client has not traded in that month, a Statement will be sent anyway). If you need a Trading Statement for a specific time period, you can generate it from your MetaTrader Account History. Right click inside the Account History tab in the MetaTrader, select Save as Report (or Save as Detailed Report), save the file on your computer.
3. How do I download historical data from the History Center in the MetaTrader?
- Select menu Tools → History Center in the MetaTrader and choose the currency pair for which you need the historical prices. To download the historical data, please, take these steps:
Log in to your account in the MetaTrader and close all charts; leave only the chart for which you need the data.
Right click on the chart, select Properties, Common tab. Select option Offline Chart.
Close and re-open the MetaTrader window.
Select menu Tools → History Center in the MetaTrader.
Choose the currency pair and the timeframe on the left.
Wait till the download is complete and close the MetaTrader.
Open the MetaTrader folder on your computer, open folder History.
The default folder is usually: C:\Users\user_name\AppData\Roaming\MetaQuotes\Terminal\instance_id\history\downloads, but if you have installed the MetaTrader to another location, the folder may be different. You should see the folder with the price history files. For example EURUSD.
Copy and paste the files from this folder into your Trading Server folder. For example: ...history\downloads\Real 2 FXOpen.
Open the MetaTrader and open up a new chart for the currency pair you need.
*Please, note that the historical data is provided by the Metaquotes Software Corp. (MetaTrader 4 developer).
4. How do I download historical quotes with Quotes Downloader?
- Follow the instructions on using Quotes Downloader.
5. How do I install an Indicator in the MetaTrader?
- Please take these steps to install an Indicator:
Save the file with your Indicator into the indicators folder on your computer.
The default folder is: C:\Users\user_name\AppData\Roaming\MetaQuotes\Terminal\instance_id\MQL4\Indicators. However, if you installed your MetaTrader into a different location, you may have to choose a different folder.
Open the MetaTrader, enable the Navigator window, click Indicators. You should be able to see your Indicator in the list.
Double-click your Indicator or drag and drop it onto the chart to activate.
Adjust the necessary Indicator settings in the pop up window, click OK.
If you have installed your Indicator successfully, you will see the confirmation in the MetaTrader, Terminal window, Journal and Experts tabs.
6. How do I set up a Trailing Stop order?
- Trailing Stop is a complex stop-loss order in which the Stop Loss price is set at some fixed number of pips below or above the market price. If the market price moves in the direction that is profitable to the trader, the Stop Loss price changes proportionally, but if the currency price moves against you, the Stop Loss price does not change. This technique allows a trader to set a limit on the maximum possible loss without setting a limit on the maximum possible gain. You also do not have to watch the price on an-ongoing basis and modify the Stop Loss price manually.
* Trailing Stop is a Client Terminal side feature. For the trailing stop to continue modify the Stop Loss, the trading platform MetaTrader 4 must be running and connected to the Internet.
To set up a Trailing Stop, right-click the order, point to Trailing Stop and set its value in points.
7. How to install an Expert Advisor (EA) in the MetaTrader?
- Please take these steps to install an Expert Advisor (EA):
Save the file with your EA into the experts folder on your computer. The default folder is: C:\Users\user_name\AppData\Roaming\MetaQuotes\Terminal\instance_id\MQL4\Experts. However, if you installed your MetaTrader to another location, you may have to choose a different folder.
Open the MetaTrader, enable the Navigator window, click Expert Advisors. You should be able to see your EA in the list.
Double-click on your EA or drag and drop it onto the chart to activate.
Adjust the necessary EA settings in the pop up window, click OK.
If you have installed your EA successfully, you will see a smiley in the right top corner of your chart. The logs of all operations performed by your EA are available in the MetaTrader, Terminal window, Experts and Journal tabs.
8. I cannot open an order — message Requote (Micro account).
- You can get this message on Micro accounts in volatile market. It means, the price has changed since you clicked the Buy or Sell button in your MetaTrader 4. To avoid re-quotes, select checkbox Enable maximum deviation from quoted price and set the deviation level at 3 pips.
9. I cannot place an order — message Invalid Stop Loss/Take Profit.
- Please, make sure you’ve chosen the correct values for Stop Loss/Take Profit.
10. I cannot trade — message Common Error or Trade Context busy.
- It means that at this moment there are too many requests come to the server or you have slow connection with the trading server. Click the connection bars in the right bottom corner of the MetaTrader, choose Rescan Servers. After that close and open the MetaTrader 4 again.
11. I cannot trade — the New Order button is not active (grey).
- You have used your Investor’s password instead of the Trader’s password to log into the MetaTrader. Please choose in the menu File → Login To Trade Account and use your Trader’s password to enter the system.
12. I cannot trade — No Connection message in the right bottom corner of the MetaTrader.
- Click the connection bars in the right bottom corner of the MetaTrader, choose Rescan Servers.
13. I do not see the News tab in the Terminal window in the MetaTrader.
- The News tab will appear as soon as the first news gets to your MetaTrader. News get to your MetaTrader only while you are online. If a news message is sent out while you are offline, you will not get it when you log into your account later.
14. I don’t see all currency pairs in the Market Watch list in the MetaTrader.
- Right click on any currency pair in the Market Watch window and choose Show All in the context menu.
15. I get the Not Enough Money message when I try to place a trade.
- Most likely that you don’t have enough balance to trade with the leverage you have chosen or you try to trade large volume (lots). To calculate which leverage and volume are best for you and also what margin you need to open a trade, please use this formula:
Example. An order on an ECN account with the volume of 0.1 lot EURUSD at 1.3975 and with 1:100 leverage.
The required margin is:
To fix the problem try the following:
- Change the leverage in the Client Portal.
- Change the lot you want to trade.
If the equity is below 150 USD, you will only have enough to trade certain pairs.
16. I get Invalid account message.
- To fix the problem check the server address and password.
17. I keep receiving blank News messages into my MetaTrader. What is the problem?
- The MetaTrader receives only the news titles to alert a trader that an event has taken place. For detailed news information and analysis, please check the Live News and Forex Analytics on FXOpen website.
18. MetaTrader and the Client Portal show different balance for my account.
- For Micro accounts, the account balance, profit, loss, equity etc. in the MetaTrader 4 are displayed in US Cents, but in FXOpen personal area you will see available funds in US dollars.
Example. You deposited $10. Balance in MetaTrader will be 1,000 US Cents but in FXOpen personal area it will be $10.00.
19. My charts are blank and keep saying Waiting for update.
- When switching between live/demo and micro accounts, the charts may say Waiting for Update. To fix the problem do the following, please:
- Close all the market windows and restart the platform again.
- Open a new market watch/windows.
20. What do the digits in the right bottom corner of the MetaTrader stand for?
- The digits in the right bottom corner of your MetaTrader display the traffic. The digit to the left of the “/” (slash) sign displays the Incoming traffic; the digit to the right of the “/” (slash) displays the Outgoing traffic.
Example. 370/2 Kb. Incoming traffic – 370 Kbs, outgoing traffic – 2 Kbs.
21. What is the difference between Balance, Equity, Margin, Free Margin, Margin Level?
- Balance shows the funds in your account based on the closed trades only. When you close a trade, its profit/loss is added/deducted to/from your account Balance.
Equity = Account Balance + Floating profit/loss of the open trades.
If you have no open trades, Balance and Equity show identical values. If you have open trades in the account, Balance will stay fixed until you close a trade and Equity will be changing all the time according to the current profit/loss that you are making.
Margin – the funds that you have used to open a trade.
Free Margin = Equity – Margin.
These are the funds that you can use to open more trades.
Margin Level (%) = Equity/Margin*100%.
22. What time is displayed in FXOpen MetaTrader 4?
- The time displayed in your MetaTrader is FXOpen trading server time – GMT +2* (Standard Time). Sadly, MetaTrader 4 does not allow you to adjust the time in MT4 to match your local time.
In spring, the servers are switched to GMT+3 (daylight saving time).