Does FP Markets Use MT4: A Comprehensive Look at the Popular Trading Platform

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 Forex traders always look for reliable and trusted trading platforms. There are many online forex trading platforms, including MT4, MT5, cTrader, and others. These platforms provide access to forex markets. Most forex brokers use MT4 as their default trading platform. So, if you are considering using FP Markets as your broker, you may be wondering if it works with MT4.

FP Markets is one of the popular forex brokers, offering forex, CFD, and Crypto CFD trading. In this article, we will discuss the compatibility of FP Markets with MT4. We will also explore alternative trading platforms, pros and cons, MT4 account creation, and more

Does FP Markets Support MT4?

Yes, FP Markets supports MT4 as its trading platform. MT4 is one of the most popular trading platforms in the world. It is known for its user-friendly interface, advanced charting tools, and automated trading capabilities. Traders can access the MT4 platform on FP Markets through various devices, including desktop computers, web browsers, and mobile devices

What Other Trading Platforms Does FP Markets Support ?

FP Markets supports several other trading platforms. They include:   

MT5

Released in 2010, MT5 is a multi-asset trading platform developed by Metaquotes, the same company that developed MT4 in 2005. MT5 is the upgraded version of MT4. It offers more timeframes on charts, with 21 compared to MT4’s 9. MT5 also offers a built-in economic calendar and partial order fill policy. Additionally, MT5 allows depth of the market (DOB). The programmatic language of MT5 is MQL5. However, it is not as popular or user-friendly as MT4 yet

cTrader

Launched in 2011, cTrader is a trading platform developed by Spotware Systems. It offers advanced trading capabilities for forex and CFD trading. It is renowned for its intuitive interface, extensive charting tools, and efficient order execution. cTrader provides access to a wide range of financial instruments and offers features such as one-click trading, advanced order types, and customizable charting tools. It also includes built-in technical indicators and allows for algorithmic trading through its cAlgo platform. While not as widely used as MT4 or  MT5, cTrader has emerged as a competitor of Metatrader. 

WebTrader

WebTrader typically refers to an online trading platform accessible through a web browser. It allows traders to execute trades, analyze markets, and manage their portfolios directly from a web-based interface, without the need to download or install any software. WebTrader platforms often offer a range of features, including real-time market data, charting tools, technical indicators, order management capabilities, and account monitoring functionalities. They are popular among traders for their convenience, accessibility, and flexibility, as they can be accessed from any internet-connected device without requiring additional software installations

IRESS

Features of FP Markets MT4

MetaTrader 4 (MT4) is a popular and widely-used trading platform in the financial markets, and FP Markets, like many other brokers, offers this platform to their clients. Here are some reasons why traders might choose MetaTrader 4 on FP Markets and some of its features:

Raw Pricing Connectivity:

FP Markets provides raw pricing connectivity on their MT4 platform. This means that traders have access to real market prices without any manipulation or interference by the broker. This transparency can be important for traders who want to ensure they are getting fair pricing.

Fast Order Execution:

MT4 is known for its fast and efficient order execution. This is crucial in the fast-paced world of online trading, where even a slight delay can make a significant difference in trade outcomes.

No Restrictions on Trading:

FP Markets MT4 typically offers no restrictions on trading styles. Whether you’re a scalper, day trader, swing trader, or use other trading strategies, you can usually execute your trades without constraints.

Level II Pricing – Market Depth:

FP Markets MT4 may offer Level II pricing, also known as market depth. This feature allows traders to see a more comprehensive view of market liquidity, helping them make more informed trading decisions.

Low Latency Trading:

Low latency means minimal delay between order placement and execution. This is crucial for high-frequency traders or anyone who needs to act quickly in the markets. FP Markets MT4 aims to provide low-latency trading.

Spreads from 0.0 Pips:

FP Markets MT4 may offer competitive spreads, starting as low as 0.0 pips. Tight spreads can reduce trading costs and increase the potential for profit.

How to create an MT4 Trading Account on FP Markets

Creating an account on FP Markets is easy and simple. Here are the steps : 

Step 1: Account Setup:

  • Create an Account: If you haven’t already, sign up for an account on FP Markets. Follow the registration process and provide the necessary information.
  • Account Verification: Complete the account verification process by submitting the required documents, ensuring compliance with regulatory standards.

Step: 2 Download and Install MT4:

  • Access FP Markets Website: Login to your FP Markets account through the official website.
  • Visit to MT4 Section: Locate the section related to MetaTrader 4 on the FP Markets website.
  • Download MT4 Platform: Download the MT4 platform from the provided link.
  • Install MT4: Follow the installation instructions to install the platform on your computer.

Step 3: Login to Your MT4 Account:

  • Launch MT4: Open the installed MT4 platform on your computer.
  • Login Credentials: Enter your FP Markets account credentials (username and password) provided during the account registration process.
  • Server Selection: Choose the appropriate FP Markets server from the list.

Step 4: Explore the MT4 Interface:

  • Market Watch: View available instruments and their real-time prices in the Market Watch window.
  • Charts: Open charts for different financial instruments. Customize chart settings, and timeframes, and add technical indicators.
  • Order Execution: Execute trades using the ‘New Order’ window. Specify trade parameters, such as volume, stop-loss, and take-profit levels.

Step 5: Use of Trading Tools:

  • Technical Analysis: Leverage the advanced charting tools for technical analysis. Add indicators, trendlines, and other analysis tools to enhance your decision-making.
  • Expert Advisors (EAs): Explore and use Expert Advisors for automated trading. Install EAs or create your own to automate trading strategies.

Step 6: Monitor and Manage Trades:

  • Trade Management: Monitor open positions, view account history, and manage trades using the ‘Trade’ and ‘Account History’ tabs.
  • Modify Orders: Adjust stop-loss and take-profit levels or modify existing orders directly from the platform.

Step 7. Mobile Trading (Optional):

  • Download Mobile App: If desired, download the MT4 mobile app on your smartphone or tablet.
  • Login to Your Account: Use your FP Markets account credentials to log in to the mobile app.
  • Trade on the Go: Manage your trades, monitor the market, and execute orders from your mobile device.

Step 8: Customer Support and Resources:

  • FP Markets Support: Reach out to FP Markets customer support for any platform-related queries or assistance.
  • Educational Resources: Explore educational materials and resources provided by FP Markets to enhance your trading knowledge.

The Pros and Cons of Using MT4

Pros
  • Free to Use 
  • User-Friendly Interface 
  • Real-time access to market prices
  • Widely Used for Traders 
  • Customizable Indicators 
  • Backtesting Capabilities 
  • Large Community and Support 
  • Allows Automated Trading 
  • Multiple Servers 
  • Low System Requirements 
  • Multi-Language Availability 
  • Support Mobile, PC, and other Devices 
  • Support Multi assets including Forex, CFD, Crypto CFD, Indices, and Commodities.
Cons
  • Limited Number of assets 
  • Lack of Build-In News Feed 
  • No Economic Calendar:
  • No Depth of Market
  • Older Architecture
  • Lack of Advanced order type  ( 4 Pending order while MT5 has 6 ) 
  • Mono-threaded platform with 32-bit operating system
  • Limited Timeframe on charts (9 Timeframe while MT5 has 21 time frame)

Frequently Asked Questions (FAQs)

What is FP Markets?

Founded in 2005. FP Markets is a regulated forex broker. It allows restriction-free trading facilities to traders worldwide. FP Markets offers Forex,Shares,Metals,Commodities,Indice,Digital Currencies,Bonds,ETFs trading with up to 1:500 leverage. It claims itself as a true ECN forex broker.  

What is MT4?

Metatraders 4 (MT4)  is a widely used electronic trading platform for forex and other financial instruments. It offers a user-friendly interface, advanced charting tools, and support for automated trading through Expert Advisors (EAs). Traders can execute trades, conduct technical analysis, and implement automated strategies on the MT4 platform.

Does FP Markets offer an MT4 Demo Account for Free?

Yes, FP Markets provides a free MT4 Demo Account. This allows users to practice and familiarize themselves with the features of the platform without risking real money. It’s an excellent way for beginners to learn and for experienced traders to test new strategies.

What is the timezone of FP Markets MT4?

The server time for Hugo’s Way is GMT+2 or GMT+3 depending on the time of year. During the winter months, the server time is GMT+2, while during the summer months, it is GMT+3. 

Can I Use EA with FP Markets MT4?

Yes, traders on FP Markets can use Expert Advisors (EAs) with the MT4 platform. EAs enable automated trading by executing predefined trading strategies, making it convenient for traders who wish to implement algorithmic approaches.

What is the Minimum Amount I Can Deposit for FP Markets?

The minimum deposit for FP Markets is as low as $ 100 AUD or equivalent. This low entry requirement makes it accessible for traders with low levels of capital.

Is FP Markets MT4 Available for MAC Users?

Yes, FP Markets MT4 is available for MAC users. Traders using MAC computers can easily download and install the MT4 platform to access the full suite of trading features.

Is FP Markets MT4 Available on Android Devices?

Yes, FP Markets MT4 is available on Android devices. Traders can download the mobile app from the Google Play Store and enjoy the convenience of trading on the go.

Does FP Markets Offer Mobile Trading on MT4 Platforms?

Yes, FP Markets offers mobile trading on MT4 platforms. Whether on Android or iOS devices, traders can use the MT4 mobile app to manage their trades, monitor the market, and execute orders from anywhere.

What Instruments Can I Trade on FP Markets MT4?

On FP Markets MT4, traders have access to a diverse range of instruments, including Forex,Shares,Metals,Commodities,Indice,Digital Currencies,Bonds,ETFs. This allows for a comprehensive trading experience across various financial markets.

Do FP Markets Use MT5 Trading Platform?

Yes, FP Markets uses the MT5 platform. MT5 is the upgraded version of MT4. Both MT4 and MT5 are developed by Metaquotes

Where is the Headquarters of FP Markets Located?

The headquarters of FP Markets is located in Sydney, Australia.

What are the Account Types in FP Markets?

FP Markets offers 2 types of accounts: Standard & Raw Accounts

Final Thoughts:

FP Markets uses MT4 as its trading platform. It also uses other platforms like MT4, MT5, cTrader, WebTrader, IRESS and more.

MT4 is one of the most popular and widely used trading platforms in the forex work. It is known for its user-friendly interface and advanced tools. It facilitates online trading in various financial markets, offering features like chart analysis, automated trading through Expert Advisors, and accessibility across multiple devices

Disclaimer : Trading forex and CFDs comes with the risk of losing your trading capital. 

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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