MT4 User Guide

Getting Started

Client Terminal is a part of the online trading system. It is installed on the trader’s computer and intended for:

• receiving quotes and news in the online mode;
• performing of trade operations;
• controlling and managing of open positions and pending orders;
• conducting of technical analysis;
• writing of expert advisors, custom indicators, scripts, and functions in MetaQuotes Language 4 (MQL 4);
• testing and optimizing of trading strategies.

For making a decision to trade, reliable on-line information is necessary. For that, quotes and news are delivered at the terminal in the real-time mode. On basis of on-line delivered quotes, it is possible to analyze markets using technical indicators and line studies. Expert advisors allow to work off routine of observing markets and the own positions. Moreover, to ensure more flexible control over positions, several order types are built into the terminal.

Terminal Installation

To install Client Terminal, it is necessary to download its distributive and launch it. Then it will be necessary to choose a directory for installing the program there and follow the Installation Wizard tips. After the terminal has been installed it will run automatically.

Terminal can also be installed over an installed version of it. At that, all terminal settings remain as they were in the preceding version. Exceptions can be: DEFAULT profile and template, as well as standard MQL4 programs included in the delivery set. This is why it is not recommended to change standard templates or profiles, but to create MQL4 progams named uniquely.

If there is a need to work with several accounts simultaneously, the corresponding amount of terminals must be installed in different directories. At that, each terminal has its individual settings, except for registration details and interface language, that are stored in the Registry.

The Client Terminal can operate under Microsoft Windows 98SE/ME/2000/XP/2003. Hardware requirements are limited with software ones.

After installation has been completed, a group of Client Terminal programs will be created in the “Start” menu, and the program shortcut will additionally appear on the desktop. They will help to start client terminal.

Attention: Two copies of the Client Terminal are prohibited to be started from the same directory simultaneously. To start several terminals simultaneously, it is necessary to install the corresponding amount of programs in different directories.

Terminal can be started from the command line, certain parameters having been specified. The account number and profile name can be used as a parameter. If the account number was specified as this, an attempt to authorize this account will be made at the program start. If the profile was specified there, it will be downloaded automatically. For example, terminal.exe “123456-’British Pound’”, where “123456″ is the account number, and British Pound is the profile name. If there are spaces in the command line (like in the above profile name), the double quotation marks should be used. If no spaces occur, there is no need in double quotation marks. Single quotes are used for profile names. For example, terminal.exe 123456-’GBPUSD’. Either login only, or profile and login can be used in the command line. The profile cannot be used without login.

Opening of Accounts

Terminal allows to work with two types of accounts: demo accounts and real accounts. Demo accounts enable working under training conditions, without real money on them, but they allow to work out and test trading strategy very well. They possess all the same functionality as the real ones. The distinction consists in that demo accounts can be opened without any investments, though one cannot count on any profit from them.

Opening of a Demo Account
A demo account can be opened by the “File – Open an Account” menu command or by the same command of the “Navigator — Accounts” window context menu. Besides, the terminal will offer to open a demo account at the first program start to begin working immediately.

The following data will be requested to open an account:
Name — the user’s full name;
Country — country of residence;
State — area (region, territory, state, etc.) of residence;
City — city of residence;
Zip code — zip code;
Address — exact mailing address (street name, house and apartment numbers);
Phone — contact telephone number;
Email — email address;
Account Type — account type to be selected from the list defined by the brokerage company;
Currency — the basic currency of the deposit to be set automatically depending on the account type selected;
Leverage — the ratio between the borrowed and owned funds for trading;
Deposit — the amount of the initial deposit in terms of the basic currency.

To activate the “Next” button and continue registration, it is necessary to flag “I agree to subscribe to your newsletters”. Then a server must be chosen to connect to. Addresses of available servers, their names and ping are listed there. The most preferable is the server having the lowest ping. After the registration has successfully completed, a window will appear that contains information about the open account: “Login” – the account number, “Password” – the password for access, “Investor” – the investor’s password (connection mode in which it is possible to check the account status, analyze the price dynamics, etc., but no trading is allowed). After registration has been completed, the new account will appear in the “Navigator – Accounts” window, and it is ready to work with. At that, the server sends a message to the terminal containing login and passwords of this newly opened account. This message can be found in the “Terminal – Mailbox” window. Besides, after the account has been successfully registered, it will be authorized automatically.

Opening of a Real Account
Real accounts, unlike demo accounts, cannot be opened from the terminal. They can only be opened by brokerage companies under certain terms and conditions. Real accounts are marked correspondingly in the “Navigator – Accounts” window. To start working with them, one must perform authorization.

Authorization

Authorization is connection of terminal to the server through a login and a password. It allows to manage a trading account. Two accesses to the account are possible in the terminal: a normal password and an investor password. Being authorized with the standard password, one gets full rights for working with the terminal. Investor authorization allows to see the account status, analyze prices, and work with expert advisors, but not to trade. Investor access is a convenient tool used for demonstration of trading at the account.

To be authorized, it is necessary to execute the “Login” command of the context menu of the account (context menu is called by clicking with the right mouse button at the account number) in the “Navigator” window or “File” menu. Then, the account number, one of its passwords (standard or investor) should be given in the appearing window, and a server should be chosen. After all data have been specified, the “Login” button should be pressed.

Security System

Data exchange between the Client Terminal and the server is performed by encryption based on 128-bit keys. This is sufficient to ensure security of trading. However, besides this system, terminal allows to use one more system: Advanced Security system based on digital signature algorithm of RSA. It is an asymmetric encryption algorithm that implies presence of a public and a private key. Public key can be freely distributed and used for checking the authenticity of a message signed with a private key. Knowing of the public key is guaranteed not to be possible basis for decoding of the private one within an acceptable period of time. Decoding of the private key on the basis of the public one will take tens or hundreds of years even with modern powerful computers.

Attention: The Advanced Security system based on electronic digital signatures can be enabled on the server.

In the Advanced Security mode, a special window will appear at the first connection to the server that is intended for generation of both public and private keys. To generate keys, it is necessary to move the mouse cursor in the black area of the window in order to generate a random data sequence. Then keys will be generated based on this sequence. The RSA key pair generated is stored on the hard disk, and the public key will be sent to the trading server. Later on, the server will check the authenticity of signed information using this public key.

Live Update

A live update system (LiveUpdate) is built into the terminal. It allows to get informed about and install new versions of the program promptly. This system is always enabled, it is impossible to disable it.

The terminal checks for new versions of the program when it connects to the server. If a new version has been discovered, a new window named “Live Update” will appear, the client will be offered to download the update(s). To start downloading these updated files, the “Start” button must be pressed. The updating process and the list of files to be downloaded can be observed in this window. After the updates have been downloaded, the new version of the terminal will be automatically installed and restarted.