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Glossary

Equity is the real-time total value of your trading account in MT4. It combines two components: your balance (the cash settled in your account from completed transactions) and your floating P...

Forex traders show how to calculate equity in MT4. 

How to Calculate Equity in MT4

Free margin is the amount of your account that is available to open new positions or to absorb floating losses on existing positions. It is calculated as Equity minus Margin Used. While margi...

A forget trade shows how to calculate free margin in MT4. 

How to Calculate Free Margin in MT4

Margin used is the amount of your account balance held by MT4 as collateral for your open positions. When you open a trade, the platform sets aside a portion of your balance to cover the posi...

A forex trader shows how to calculate margin used in MT4. 

How to Calculate Margin Used in MT4

The 1% risk rule is one of the most widely-used principles in trading risk management. It states that you should not risk more than 1% of your trading account on any single trade. By limiting...

A forex trader explains how to use the 1% risk rule in forex. 

How to Use the 1% Risk Rule in Forex

The profit and loss statement in MetaTrader 4 is found in the Account History tab of the Terminal window. It shows your closed trades, deposits, withdrawals, swap charges, commissions, and th...

A forex trader shows how to read a profit loss statement in MT4

How to Read a Profit and Loss Statement in MT4

The Sydney session is the first major trading session to open each new forex trading week. As the global forex market runs essentially 24 hours from Sunday evening (GMT) to Friday evening (GM...

A forex trader works the Sydney session. 

What Is the Sydney Session in Forex?

The Tokyo session is the main Asian trading session in forex. It is the third largest by volume, after London and New York, and it represents the period during which Japanese banks and tradin...

A forex trader explains what the Tokyo Session is.

What Is the Tokyo Session in Forex?

The New York open is the start of the New York trading session, the period during which the largest US financial centre is most active. New York is the second largest forex trading hub in the...

A forex trader explains the New York Open in forex. 

What Is the New York Open in Forex?

The London open is the start of the London trading session, the period during which the London financial centre is most active. London is the largest forex trading hub in the world by volume,...

A forex trader explains what the London Open is. 

What Is the London Open in Forex?

The MQL5 community is a MetaQuotes service integrated directly into MetaTrader 5. It provides access to a marketplace of trading tools, signal subscriptions, articles, code samples, freelance...

A forex trader shows how to use the MT5 MQL5 community. 

How to Use the MT5 MQL5 Community

Fill or Kill, often abbreviated to FOK, is one of three order fill policies available on MetaTrader 5. It tells the platform to either fill your order in full at the specified price or cancel...

A forex trader shows how to use fill or kill orders on MT5. 

How to Use Fill or Kill Orders on MT5

MetaTrader 5 includes a broader set of order types than MetaTrader 4. The "extras" cover two additional pending order types, two additional order fill policies, and two additional expiry opti...

A forex trader shows what the extra order types on MT5 are. 

What Are the Extra Order Types on MT5?

The MT5 market depth window shows the available bid and ask price levels for a given symbol, along with the volume offered at each level. It is one of the platform features that distinguishes...

A forex trader shows how to use the MT5 market depth window. 

How to Use the MT5 Market Depth Window

One of the meaningful upgrades in MetaTrader 5 over MT4 is the Strategy Tester. MT4's strategy tester is single-threaded and limited to one symbol at a time; MT5's is multi-threaded, supports...

A forex trader shows how to run a multi-currency backtest on MT5. 

How to Run a Multi-Currency Backtest on MT5

MetaTrader 5 introduced something MT4 never had: two different ways of accounting for open positions. Netting mode treats each symbol as a single net position, with new orders adjusting the e...

A forex trader shows how to use netting vs hedging mode on MT5. 

How to Use Netting vs Hedging Mode on MT5

Most traders follow an economic calendar in some form, whether through a website tab kept open in the background or a separate app on their phone. The MetaTrader 5 desktop terminal includes i...

A forex trader shows how to use the MT5 built-in economic calendar. 

How to Use the MT5 Built-In Economic Calendar

A chart is the central interface for most technical analysis, and the MetaTrader 4 mobile app makes the same chart data available on a phone or tablet as you would see on the desktop terminal...

A forex trader shows how to read the MT4 mobile chart. 

How to Read the MT4 Mobile Chart

The MetaTrader 5 mobile app allows you to open trades, set stop loss and take profit levels, and place pending orders from your phone or tablet. For traders who spend time away from the deskt...

A forex trader shows how to place a trade on MT5 mobile. 

How to Place a Trade on MT5 Mobile

Switching between chart timeframes is one of the most common actions in technical analysis, and the MetaTrader 4 mobile app supports the same nine timeframes available on the desktop terminal...

A forex trader shows how to change timeframe on MT4 mobile.

How to Change Timeframe on MT4 Mobile

Technical indicators help traders interpret price action and structure trade decisions, and the MetaTrader 4 mobile app includes the same set of built-in indicators as the desktop platform. W...

A forex trader shows how to add an indicator on MT4 mobile. 

How to Add an Indicator on MT4 Mobile

A stop loss is one of the most basic pieces of risk management on any trading platform, and the MetaTrader 4 mobile app makes it available wherever you are. Whether you are placing a new orde...

A forex trader shows how to set a top loss on MT4 mobile.