Summary of how to use MT4 on XM

In this article.MT4 at XMThis section explains how to use the

How to use MT4 on XM

How to log in to XM's MT4

Launch the application once MT4 installation is complete.

Double-click the MT4 icon in the programme list to start it.

Click [File] on the menu bar and then [Login to trading account].

A screen similar to the image above will appear, click [File] on the menu bar and then [Login to trading account].

Enter your login ID and password to log in.

Enter your login ID and password to log in.

The [MT4 ID (XM account number)] and [server] are listed in the email sent when you open an XM account. Also, although not listed in the email, the password is the password you set when you registered your account.

If [you do not know which server is specified].It can also be found on the XM members' page.

Now you can use this to.MT4 login is complete.

method of ordering

Select Tools on the menu bar and click New Order.

market order

A market order is the simplest way to place an order [to place an order for a specified number of lots right now at the current rate].

Select the currency pair, quantity and order type under [ ].market order].

After specifying the items, click [Market Sell] or [Market Buy] to place the order.

[Settlement stop loss] [Settlement limit].is free to specify whether or not to do so, and can be changed after the order has been submitted.

Limit (stop) orders

Limit/stop orders are an order method whereby a price is set in advance and the order can be placed automatically when that price is reached.

Select or enter the currency pair and quantity, and select the order type as [Limit Order].

Select the currency pair, quantity and select the order type as [Limit order].

Select the order type and price and select [Place order].

Select the order type and price, then select Place order.

How to change an order

The order modification screen allows you to change or cancel the order price, expiry date, etc. of [limit] and [stop] orders prior to settlement.

Please note that it is not possible to change or cancel transactions that have already been executed.

To change the price, enter the new price in the [Price] field of the displayed order placement screen and click [Change order].

For cancellations, click Cancel order.

market settlement

Once you have placed an order, aim to settle it at the right time, whether at profit or loss. Make sure you know how to settle the order so that you don't panic when the time comes.

As with market orders, this is a basic settlement method.

To close an order, first open the Toolbox.

If it is not open, open [Toolbox (or Terminal)] from [View].

When the toolbox opens, select the Transactions tab on the far left.

The positions currently held will be displayed, and you can close them by clicking the [X] next to the [Profit/Loss] column of the position you wish to close.

You can also double-click on the profit/loss column of a position to display the order screen, where you can check the details of the position and then close it market.

Click the [Market Settlement] button to complete the settlement.

If you change [Quantity], you can settle in instalments (settle only the quantity you entered).

Limit and stop-loss settlement

For limit and stop-loss settlement, you can specify the value you want to settle at the time of the new order or after the start of trading.

Please note, however, that in either case, the limit/stop settlement price must be at least as far away from the stop level (the minimum price range from the current rate set by the respective firm) or an error will occur.

To be entered when placing a new order

Enter the desired values in the [Settlement Stop Limit (S/L)] and [Settlement Stop Limit (T/P)] fields on the [Place Order] screen before placing an order to complete a limit/stop settlement order.

Limit and stop-loss settlement orders can be entered for both market orders and limit/stop-loss orders.

To be entered after the start of the transaction

[Under 'Settlement type', select 'Change or cancel order'.

Enter the desired values in [Settlement Stop Limit] and [Settlement Limit] and click [Change] to complete.

Methods of trailing stops

A trailing stop is a stop order plus a price range specification function.

It is possible to automatically change the settlement stop loss in line with current rate fluctuations.

Open the [Trades] tab in the terminal window and click [Right-click] → [Trailing Stop] on the trade for which you want to set a trailing stop.

Select the desired trailing stop width from the displayed range and you are done.

The trailing stop only works when MT4 is running, so if you want to use it, make sure you log in to MT4 and keep it running.

summary

This article explained how to use MT4 on XM.