Does XM Use MT4: A Comprehensive Guide to XM’s Trading Platforms

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XM is a popular online trading platform that offers a wide range of financial instruments to traders all over the world. One of the most commonly asked questions about XM is whether it uses MetaTrader 4 (MT4) as its trading platform. MT4 is a popular trading platform that has been around for over a decade and is used by many brokers and traders worldwide. In this article, we will explore whether XM uses MT4 as its trading platform and what benefits it offers to traders.

XM does offer the option to use MT4 as its trading platform. MT4 is a popular trading platform that is known for its user-friendly interface, advanced charting capabilities, and customizable indicators. Traders who are familiar with MT4 will find it easy to navigate and use on the XM platform. Additionally, traders who use MT4 on XM will have access to a wide range of trading instruments, including forex, stocks, commodities, and indices.

Key Takeaways

  • XM offers the option to use MT4 as its trading platform.
  • MT4 is a popular and user-friendly trading platform that offers advanced charting capabilities and customizable indicators.
  • Traders who use MT4 on XM will have access to a wide range of trading instruments including forex, stocks, commodities, and indices.

Does XM Support MT4?

Yes, XM 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 XM through various devices, including desktop computers, web browsers, and mobile devices

What Other Trading Platforms Does XM Support ?

IC 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

XM App:

Why Choose Meta Trader 4 On XM?

Popularity and Familiarity:

MT4 is renowned for its user-friendly interface, extensive charting tools, and the availability of expert advisors (EAs) for automated trading. Its widespread use means there is a wealth of educational resources, tutorials, and a large user community to support traders. Many traders, especially beginners, find the intuitive design and abundant resources of MT4 appealing. When using XM’s MT4 platform, you can access this familiarity and benefit from the wealth of available add-ons and strategies.

Wide Client Base:

A broker with over 10 million clients across 190 countries suggests a strong track record in the industry. This extensive client base signifies trust and reliability, as many traders have chosen XM as their brokerage of choice. A broker with such a significant number of clients typically has a good reputation for providing a secure and efficient trading environment.

Payment Options:

XM’s support for over 25 secure payment methods offers traders flexibility in depositing and withdrawing funds. This is crucial as traders from different regions may prefer different payment options. Having access to multiple payment methods makes it easier for traders to manage their accounts.

Multiple Trading Platforms:

While MT4 is a favored platform for many, it may not suit all trading strategies. XM’s offering of more than 10 full-featured trading platforms gives traders the option to select a platform that aligns with their specific trading style. Whether you prefer MT4, MetaTrader 5 (MT5), or other platforms, XM’s diverse options cater to a broad range of trading preferences.

Multilingual Support:

In the diverse world of trading, multilingual support is invaluable. Not all traders are proficient in English, and having access to customer support and educational materials in their native language can significantly enhance the trading experience. XM’s support for over 30 languages ensures that traders from various linguistic backgrounds can comfortably engage with the platform and its services.

24/7 Customer Support:

The forex and CFD markets operate around the clock, five days a week. Traders need to be able to reach out for support and assistance at any time. The availability of 24/7 customer support on XM ensures that traders can get help with their questions or concerns, regardless of the time zone they are in. This is particularly important in times of market volatility or when unforeseen issues arise.

How to create an MT4 Trading Account on XM

Creating an account on XM 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 XM. 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 XM Website: Login to your XM account through the official website.
  • Visit to MT4 Section: Locate the section related to MetaTrader 4 on the XM 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 XM account credentials (username and password) provided during the account registration process.
  • Server Selection: Choose the appropriate XM 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 XM 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:

  • XM Support: Reach out to XM customer support for any platform-related queries or assistance.
  • Educational Resources: Explore educational materials and resources provided by XM 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 XM?

Founded in 2009.  XM is a regulated forex broker. It allows restriction-free trading facilities to traders worldwide. XM offers Forex , Commodities, Stock ,Indices , Crypto , Turbo Stocks, Equity indices , Precious Metals , Energies trading with up to 1000:1 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 XM offer an MT4 Demo Account for Free?

Yes, XM 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 XM MT4?

The server time for XM 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 XM MT4?

Yes, traders on XM 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 XM?

The minimum deposit for XM is as low as $05. This low entry requirement makes it accessible for traders with low levels of capital.

Is XM MT4 Available for MAC Users?

Yes, XM 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 XM MT4 Available on Android Devices?

Yes, XM 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 XM Offer Mobile Trading on MT4 Platforms?

Yes, XM 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 XM MT4?

On XM MT4, traders have access to a diverse range of instruments, including Forex , Commodities, Stock ,Indices , Crypto , Turbo Stocks Equity indices , Precious Metals , Energies. This allows for a comprehensive trading experience across various financial markets.

Does XM Use MT5 Trading Platform?

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

Where is the Headquarters of XM Located?

The headquarters of XM is located in Limassol, Cyprus

What are the Account Types in XM?

XM offers 4 types of accounts: Ultra Low, Micro, Standard, Islamic

Final Thoughts:

XM does use MT4 as one of its trading platforms. This platform offers a range of features and tools that can be useful for traders of all experience levels. The platform provides access to a wide range of financial instruments, including Forex, CFDs, and commodities.

One of the key benefits of using MT4 is its advanced charting capabilities, which allow traders to perform in-depth technical analysis of the markets. The platform also offers a range of customization options, allowing traders to tailor the platform to their specific trading needs.

Overall, XM’s use of MT4 is a positive factor for traders looking to trade with this broker. The platform’s advanced features and tools can help traders make more informed trading decisions, and its user-friendly interface makes it easy to use for both beginners and experienced traders alike.
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.

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