MetaTrader 4 (MT4) is a free trading platform for forex and CFDs, created by the software company MetaQuotes in 2005. In plain terms, it's the program where you watch price charts, analyse the market, and place trades — and you get it through a broker, who connects it to live markets. So when people ask "what is MT4?", the short answer is: the world's most widely used retail forex platform, and the one most brokers still build around.
What MetaTrader 4 is
MT4 is a desktop and mobile application made by MetaQuotes. It doesn't hold your money or set prices — your broker does that. The platform is the workspace: charts, analysis tools, and the order ticket you use to buy and sell. Because MetaQuotes licenses MT4 to brokers rather than selling it to individuals, you always download MT4 from a broker, and the platform itself is free.
MetaTrader 4 at a glance
| What it is | A trading platform (charting + analysis + order execution) for forex and CFDs |
|---|---|
| Developer | MetaQuotes Software |
| Released | 2005 |
| Latest build | 1460 (March 2026) — still actively maintained |
| Runs on | Windows, macOS, Android, iPhone/iPad, plus a browser-based WebTrader |
| Markets | Forex first; CFDs on metals, indices, energies, and (at some brokers) crypto |
| Automation | Expert Advisors and custom indicators written in MQL4 |
| Cost | Free — you only fund an account with a broker to trade live |
How MT4 works
MT4 has two halves: the client terminal you install, and the broker's trade server it connects to. When you open MT4 you log in with three things from your broker — a login (account) number, a password, and a server name. The server streams live prices and executes your orders; the terminal is where you read charts and click buy or sell.
This is why MT4 is free yet you still need a broker: MetaQuotes makes the software and licenses it to brokers, and the broker provides the account, the prices, and the market access. Your funds always sit with the regulated broker — never inside the app itself. (New to the login screen? See our MT4 login guide.)
What you can do with MT4
- Chart the market across nine timeframes, from one minute to one month.
- Analyse with around 30 built-in indicators plus drawing tools — and add custom indicators on desktop.
- Place trades with market and pending orders (buy/sell limit and buy/sell stop), plus stop-loss, take-profit, and trailing stops.
- Automate strategies with Expert Advisors (EAs) written in the MQL4 language, and test them in the built-in Strategy Tester.
- Trade more than forex — gold, indices, and crypto are available as CFDs at many brokers.
- Practise on a demo account with virtual money — no real funds at stake.
What you can trade on MT4
MT4 was built for forex, and currency pairs are still its core — majors like EUR/USD, minors, and exotics. Beyond FX, most brokers add CFDs (contracts for difference) on other markets: metals such as gold (XAUUSD) and silver, stock indices like the US 500 and NAS100, energies such as oil, and at some brokers cryptocurrency CFDs.
What MT4 generally does not offer is direct, exchange-traded shares — where individual stocks appear, they're share CFDs rather than ownership of the stock. If you need a true multi-asset platform with exchange-traded stocks and futures, that's the gap MT5 was designed to fill.
Why MT4 is so popular
Three reasons: it's free and lightweight, almost every broker supports it, and it has a huge ecosystem of custom indicators and Expert Advisors built up over nearly two decades. That familiarity is self-reinforcing — traders know it, so brokers keep offering it, so more traders learn it.
You can install MT4 for free, but you trade through a broker's account and servers. That's why every download here leads to a regulated broker — it's the official way to get the platform and the access together.
MT4's strengths and limitations
No platform is perfect. Here's an honest read on where MT4 shines and where it shows its age:
- Strengths: free and light enough to run on modest hardware; the largest library of indicators and EAs of any retail platform; near-universal broker support, so your skills (and often your tools) travel between brokers; excellent for forex and rule-based, automated trading; a gentle learning curve.
- Limitations: the interface looks dated next to newer apps; it's forex/CFD-focused rather than a true multi-asset platform (no exchange-traded shares or futures); its automation language MQL4 is not compatible with MT5's MQL5, so EAs and indicators don't transfer between the two; and it has fewer timeframes (nine) and slower strategy backtesting than MT5.
Who it's for: beginners who want a free, simple platform with a demo and plenty of tutorials, and forex or EA traders who value the ecosystem. It's a weaker fit if you mainly want to trade exchange-traded shares or need MT5's faster multi-currency backtester. Weighing the two? Read MT4 vs MT5.
Is MT4 still used in 2026?
Very much so. MetaTrader 4 is actively maintained — the latest build is 1460 (March 2026) — and our 2026 audit of 21 leading brokers found every one of them still offers MT4 alongside MT5. The "MT4 is dead" narrative isn't supported by what brokers actually provide. If you're weighing the two, read MT4 vs MT5.
Ready to try MetaTrader 4?
The platform is free. Open a free demo to explore it with virtual money, or get set up with a regulated broker.
⚠ Trading forex and CFDs is high-risk and most retail traders lose money. This is not financial advice.
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Frequently asked questions
What is MetaTrader 4?
MetaTrader 4 (MT4) is a free trading platform for forex and CFDs, created by the software company MetaQuotes in 2005. It's where you view price charts, analyse the market with indicators, and place trades. You get it through a broker, who connects the platform to live markets.
Who created MT4?
MetaTrader 4 was developed by MetaQuotes, a software company, and released in 2005. MetaQuotes also makes MetaTrader 5. Brokers license the platform from MetaQuotes and provide it to their clients.
Is MT4 free?
Yes. The MetaTrader 4 platform is free to download and use. You only need a funded account with a broker to trade live, and a demo account lets you practise with virtual money at no cost.
What is MT4 used for?
MT4 is used to analyse forex and CFD markets and place trades. It offers price charts across nine timeframes, around 30 built-in indicators, drawing tools, several order types, and automated trading through Expert Advisors written in the MQL4 language.
What can you trade on MT4?
MT4 is built around forex (currency pairs), and most brokers also offer CFDs on metals like gold and silver, stock indices, energies such as oil, and at some brokers cryptocurrency. It generally does not offer direct, exchange-traded shares — where stocks appear they are share CFDs. For a true multi-asset platform, that's MT5.
Can I use MT4 without a broker?
Not for live trading or real-time prices. MT4 is distributed by brokers and needs a broker's server for live data and order execution. You can open a free demo account with a broker to use the full platform with virtual money — the no-commitment way to explore it.
Is MT4 safe?
The MetaTrader 4 software itself is legitimate and widely used, made by the established developer MetaQuotes. Your safety as a trader depends mostly on the broker you use it with — choose one regulated by a tier-1 authority, and only download MT4 from the broker or an official source. Trading itself is high-risk; most retail traders lose money.
Is MT4 good for beginners?
Yes. It's free, runs on almost any device, includes a free demo to practise on, and has a huge library of tutorials because so many people use it. The interface is straightforward to learn. Remember, though, that the platform doesn't reduce the risk of trading — start on a demo and never risk money you can't afford to lose.
Is MT4 still used in 2026?
Yes. MetaTrader 4 is actively maintained — the latest build is 1460 (March 2026) — and our 2026 audit found all 21 leading MT4 brokers still offer it, alongside MT5. It remains one of the most widely used retail trading platforms.
Is MT4 or MT5 better?
Neither is simply better — they suit different needs. MT4 is focused on forex with the largest ecosystem of indicators and Expert Advisors; MT5 adds more markets, timeframes, and faster backtesting. See our MT4 vs MT5 guide for a full comparison.
Trading foreign exchange and contracts for difference (CFDs) carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. You could lose some or all of your deposited funds; do not trade with money you cannot afford to lose. Past performance is not indicative of future results. Nothing on MT4Download.com is financial, investment, or trading advice. Consider your circumstances and seek independent advice if needed.