Navigating the financial markets is a serious business, and for Mac users, getting the best trading software is a top priority. With its user-friendly interface and powerful analytical tools, MetaTrader 4 (MT4) is a trusted platform among traders worldwide.
But, how do you install it on your Mac? In this article, we’ll provide a comprehensive walkthrough, ensuring that MT4 is up and running on your Mac platform in no time.
How to install MetaTrader 4 on Mac? Steps
Before diving into the installation process, it's crucial to understand which macOS version you are using. The installation experience varies significantly depending on whether you have a pre-Catalina or Catalina OS. This distinction is important as macOS Catalina and later versions do not support 32-bit applications, which includes the official MT4 client.
Fear not, however, as we have solutions for both scenarios.
Pre-Catalina Mac OS users:
If you are using an older version of macOS, such as Mojave or High Sierra, the MT4 installation process is relatively straightforward. Users can download the MT4 client directly from their preferred broker’s website and proceed with the installation, as we will outline below.
Catalina and beyond users:
For those with Catalina and later versions, the official MT4 client is not compatible. However, with some simple tweaks, or the use of third-party applications, you can still run MT4 on your Mac. We will guide you through the available options and how to make the most of them.
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Installation on Pre-Catalina Mac OS
For Mac OS versions prior to Catalina, the initial step is to find a reliable broker offering the MT4 platform. Here's how you begin:
- Choose a broker: Select a reputable broker that supports MT4 for Mac.
- Download the Mac client: Once you’ve chosen a broker, visit their website and locate the download link for Mac OS. It's usually accessible from the client area or the download section of the website.
- Install the platform: After the download is complete, open the file and drag the MetaTrader 4 icon to your applications folder. You can now run MT4 from your applications list.
- Log in or create an account: Upon launching MT4, you will be prompted to log in or create a new account with your broker. If you already have an account, simply enter your credentials. Otherwise, follow the instructions to create a new account.
- Start trading: With MT4 running on your Mac, you can start trading immediately. Familiarise yourself with the platform, and you'll be placing trades in no time.
Installation on Mac OS Catalina and beyond
For Mac users on Catalina and later macOS versions, installing MT4 directly is not possible. But you do have a couple of workarounds at hand.
Use PlayOnMac or Wine:
Leverage programs like PlayOnMac or Wine to run Windows applications on Mac.
Here’s a quick guide to using PlayOnMac:
- Download PlayOnMac: Visit the PlayOnMac website and download the application.
- Install PlayOnMac: Open the downloaded file and drag the PlayOnMac icon into the applications folder.
- Run PlayOnMac: Open the PlayOnMac application, and in the bottom left, click 'Install a program.' Follow the installation wizard to install the Windows version of MT4.
- Run MT4: MT4 should now be available in the PlayOnMac window. Double-click the MT4 icon to launch the program.
Enter your account details, and you're ready to trade. Please note that third-party solutions may not offer the same user experience or be as stable as native applications. Be sure to check compatibility and stability issues before proceeding.
How to use MT4 on Mac
With MT4 successfully installed, it's time to learn how to navigate the software. The platform may seem complex at first, but with practice, you can take advantage of its numerous features to optimise your trading experience.
The basics:
Get familiar with the basic features of the platform:
- Market watch: Here, you can see the live data for various trading products. You can add or remove instruments, monitor spreads, and select trading symbols.
- Charting tools: MT4 offers a range of charting tools for technical analysis, including various timeframes, chart types, and various inbuilt technical indicators.
- Trade terminal: This is where you manage your trades, execute orders, set stop-loss and take-profit levels, and view your trading history.
- Expert Advisors (EAs): Automate your trading strategies with EAs. You can either build your own or choose from thousands of EAs available in the market.
Customization:
MT4 is highly customizable. You can arrange the various windows to suit your trading style, save profiles, set alerts, and perform backtesting to refine your strategies.
Advanced features:
Explore the advanced features, such as the Strategy Tester and the MQL market for additional indicators, scripts, and services for your trading needs.
Opening a trading account with Skilling
To begin trading through MT4 on either Windows, WebTrader, IOS and Android, you need a trading account. Skilling makes this process seamless for you.
Open a live trading account:
- Register with Skilling: Sign up for an account on the Skilling website.
- Verify your identity: Complete the verification process by submitting the required identification documents.
- Deposit funds: Make a deposit to your Skilling account using one of the available payment methods.
- Connect with MT4: Once your account is funded, download MT4 here and log in with your Skilling account details. You're now ready to trade live!
Opening a demo account:
If you're new to trading or simply want to practise, Skilling offers a free demo account that simulates real market conditions. Here's how to set up a demo account:
- Sign up: Sign up for a free Skilling demo account.
- Install MT4: Follow the instructions provided above to install MT4 directly on the Skilling website.
- Select demo account on MT4: When you're prompted to log in, select the option for a demo account and enter your details provided by Skilling.
- With a demo account, you can practise and develop your trading strategy risk-free.
FAQs
What are the system requirements for installing MT4 on Mac?
The system requirements usually include a version of OS X/macOS that is not older than specified by the MT4 broker or platform, minimum RAM, and available disk space. Please refer to the MT4 broker's official site for specifics.
Is MT4 for Mac free to use?
The MT4 for Mac software is usually free to download and use. However, some features and tools within the platform may have associated costs, or there may be fees from your broker.
How often should I update MT4 on My Mac?
It is essential to keep your MT4 platform updated to access the latest features, security updates, and compatibility improvements. Regularly check for updates or allow automatic updates from within the application.
Can I install MetaTrader 4 on my macOS without using any other software or Windows emulation?
You will not need to use any other software or Windows emulation for installing MT4 on Mac. The platform is designed to run natively on macOS with a simple installation process.
Is MetaTrader 4 safe for Mac users?
When downloaded from a trusted source, MetaTrader 4 is safe for Mac users. It’s important to download MT4 from brokerages and platforms that have been verified as safe and secure.
What are the main features of MT4 on Mac?
MT4 for Mac offers a variety of features, including real-time price data, customizable charts, extensive data analysis tools, automated trading capabilities, and a user-friendly interface.
Can I use custom indicators and EAs on MT4 for Mac?
Yes, Mac users can take advantage of the MetaTrader 4 platform's custom indicators and EAs to enhance their trading strategies and technical analysis.
How can I run multiple instances of MT4 on my Mac?
You can run multiple instances of MT4 on your Mac by simply duplicating the application file and running them separately. This is especially useful if you're tracking different assets or using various strategies.
How do I update MT4 on my Mac?
To update MT4 on your Mac, simply download the latest version from your broker's website and install it. It's a good practice to keep your platform updated with the latest features and security patches.
Can I trade CFDs with MT4 on my Mac?
Yes, MT4 for Mac allows you to trade a wide range of CFDs, including forex, commodities, indices, and cryptocurrencies, with the same ease as other asset classes.
What should I do if MT4 is running slow on my Mac?
If you experience sluggish performance on MT4 for Mac, try freeing up system resources by closing unnecessary applications or consider upgrading your Mac’s hardware if it's outdated. In addition, ensure you have a stable internet connection as this can also affect the platform's performance.
