This is the MetaTrader 4 basic tutorial which will teach you how to use the trading platform on your computer. You will need to have an account with a FOREX broker, either a demo account or a live account. If you don’t already have an account with a FOREX broker then you can check out ForexGuide’s Recommended Brokers List with Reviews.
Before (or after) moving on, I also recommend taking a look at New Member FOREX No Deposit Welcome Bonuses. This gives you a chance to trade on a real account using the broker’s money. No deposit by you is required. When you make profits you can withdraw them. Terms and conditions apply and are different for each broker.
For this tutorial we will be using FBS FOREX Broker. They have no minimal money deposit requirement, and you can open a real account or a demo account, both account types are for free. Optionally, first open a demo account, do not open a real account and load money on it just yet. Unless you want to use a Cent or Micro account.
I will explain more about this in a moment. It is important for you to learn how to use the trading platform so you don’t accidentally make a mistake and get caught up in a bad trade. Please understand that a trading platform is not a video game and Microsoft Office.
Enter your email further down the page and click next. This will automatically create a free demo account and you will be given the username and password to log into your account after you install MetaTrader 4/5. You can download and install MetaTrader in the next step after creating a demo account. Select one of the FOREX brokers below and start with a free demo account or Cent/Micro to practice trading:
Optionally, if you prefer you can open a Cent Account (can start trading with just $1), or a Micro Account (start with $5). Both these account types are safe for beginners since the lot size is very small. The perfect way to get a feel of trading FOREX on a real account without putting your money at risk. A great alternative to a Demo account. You may only earn cents a day, but on the upside you can also only lose a few cents. It is more fun to learn trading this way.
Real market, real trading account and it is safe. Set your lot size to 0.01 and trade without any worries. Please watch the FBS Account Types video below and decide where we go from here:
Open a demo account with FBS:
Next thing to do is download and install the trading platform. Click here to download the trading platform for MetaTrader 4 (InstaForex) or MetaTrader4 (OctaFX). After you have downloaded and installed the trading platform you can now open MetaTrader 4 on your computer. Next you can log in with your username and password. The login details will be provided to you by the broker.
Now that you have opened a free demo account and installed the trading platform, you are ready to start learning how to trade FOREX. I recommend you get familiar with the common FOREX terms in case you have not done so already. Or you can do it at the same time whilst you are logged in to your demo trading account and have MetaTrader 4 open and running on your computer. To learn what all those things in the trading platform mean, just look it up on the common forex terms page.