4.9 / 5.0 How to Trade on XM MT4/MT5 Platforms {For Beginners} REGISTER

XM MT4/MT5

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MT4 is one of the older Forex platforms still used today to manage trading orders. Almost all serious trading platforms offer it to their traders.

Then there is the MT5 platform, a replica of MT5 but more advanced.

In order to be trading with either MT4 or MT5 platforms offered by Xm global, you will need to either have a demo account or a real account offered by XM Forex.

it is during the registration process that you will be able to choose whether you want to trade an MT4 platform or an MT5 platform.

Whichever trading platform you choose, you will still be able to access all the 1,000 plus trading instruments offered by XM.

So, there is really no need to scratch your head if to go with the older version of MetaTrader or if to adapt to the new one.

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If you really aren’t sure how to open a new trading account, what answers to give, or which account type to go for, bookmark this post; take a few minutes to read this other post and come back to continue with this one later.

Did you manage to open your new trading account?

How to Install XM MT4 or MT5 Platforms to Begin Trading {For Beginners}.

Now it’s time to install an MT4 or MT5 platform depending on what you picked during registration.

Step 1 Confirm The Platform to Download.

Have I already mentioned that trading platforms in XM are chosen during registration?

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Well, that’s the truth. However, it’s very easy to get mixed up and forget what you picked.

Don’t worry, if you are able to access the email address you used during registration, go back and check the second email you receive from XM.

There you will find the platform you are supposed to install, the server you will use, and your login credentials.

Note: – MT4 or MT5 login credentials are just the same as the credentials you use to access your XM member area.

XM MT4/MT5 platforms

For example in the image above you can see my trading ID as xx… and my server as XMGlobal-MT52.

Step 2 – Download and install your MetaTrader Platform.

Which platform did you see in the email? Download it to your phone computer or tablet.

If you already have the XM Mobile App installed, navigate to platforms on the left sidebar and choose the platform you need.

Alternatively, you can just click on the link on your email to download the app.

The third and easiest way to access the MT4 or MT5 apps if you are already reading this post is to go to this page on the XM Global official website.

After downloading the app or the platform, install it on your device.

How to download XM MT4 and/MT5 platforms

Step 3 – Launch and Login to access MT4 or MT5 platforms.

If you are using the MetaTrader on your phone, tap on the app to launch then click on the beacon icon at the top left corner to log in.

Next, tap manage account to login to MT4 or MT5 platforms.

Tap on the plus sign on the top right corner of the app and tap login to an existing account.

Use the search bar to find XM by typing “XMGlobal”.

Did you confirm your server on the previous step?

Now’s the time o use it.

Choose your server as in the email and use your login credentials for your member’s area to login.

You will be granted access instantly.

Step 3 - Launch and Login to access MT4 or MT5 platforms.

 

How to Trade on XM MT4 or MT5 Platforms {For Beginners}

Did you manage to log in to your MetaTrader account?

The first screen you will see is for quotes. Depending on if you chose a micro account, Standard Account, XM Ultra-Low Account, or Shares Account; you will see some instruments customized to that account type.

For example, if you opened a Micro account, you may see the EUR/USD pair but you can only trade the EUR/USDmicro pair.

Don’t worry, it’s just the same thing except, you can trade it on a smaller scale and you can add it to your quotes page with a simple tap.

How to Add instruments to quote page on XM MT4 or MT5 platforms.

Tap on the plus sign at the top right.

Open the folder which contains the instruments you are interested in trading and tap on the assets you want to add to your quote page.

For example, if you are interested in stocks, you should look for a folder with stocks; if you are interested in Forex (currency pairs) look for folders with currency pairs, and if you are interested in futures ir indices; that’s what you should look for.

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Those assets will automatically be added to the quotes page.

Trading with MT4

How to Place Your First Trade on MT4 or MT5 Platforms.

Now that you have everything that you need to trade, it’s time to analyze the charts and find the best direction for your trade.

Use the chart button at the bottom to see the price movement of the asset you are interested in.

You can also use charting tools at the top labeled as “f” to do your technical analysis for better entry and exit positions.

Since this post is about helping you place your first trade, whether, on a real trading account or a demo account, that is what we will stick to.

Managing trades on MT4/MT5 – detailed instructions.

  1. Tap on the quotes tab
  2. Choose the pair you want to trade for example GBP/USDmicro and tap on it.
  3. Select “New Order”

Enter order volume under market execution. By default, the volume will be set to 0.10 or 0.01 depending on your account type and account balance.

Increasing the volume points means you will be exposing more skin to the market.

This means that if the price goes your way, your gains will multiply faster. It also means that if the price goes against you, you may lose so much so fast.

Except if you have a stop loss in place.

1). Under SL – is where you set your stop loss – this is an order telling the market in advance that if things go south, it should close your trade with a predetermined loss.

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2). Take Profit (TP) – This is the opposite of stop loss. It is an order to the market to close your trade with a predetermined profit.

In case you forget to set either the take profit or stop loss levels, you can still close your trade manually in profits or losses.

Lastly, you need to tap on either ‘SELL” or BUY depending on where you are forecasting the price will go.

If your prediction is that prices will increase, tap on BUY.

Conversely, you can tap on “SELL” if you are predicting that the price will fall.

How to trade on MT4 or MT5 platforms

Note, that this is simply an explanation of how to execute trades. Not a call to execute trades without proper analysis, money management, and other factors that influence profitability in trading.

Before trading on a real account, make sure you have acquired the skill needed to trade forex and the financial muscle needed to accept losses.

See you again in the next post.

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