MetaTrader 4
reviews and complaints

I put MetaTrader 4 on two iPads and a Win 7 laptop and the app runs flawlessly on both platforms. I am a novice, and am still playing with my Demo account, but absolutely love the app. I am maybe a little harsh in removing one star, but here are some things I see as a required improvement; when you tap the chart, the trading pair should also come up, should be able to close the chart from on the popup bubble (m1, m5, m15 ... bubble), and should have alerts like the windows version. Outside of these "requests" I am very satisfied with the app. I am also aware that a MetaTrader 5 App is out already, so maybe some of these concerns are already addressed, though from my understanding, MT5 is not a linear upgrade, and as such does not have the same level of Forex Trading partners offering it as one of their access tools.

MetaTrader is great on the phone or iPads, I’ve been self employed because of trading forex for over a year, I upgraded my computers and laptops and turns out that new software doesn’t support 32-Bit programs. Most software companies focus on 64-bit programs. That said if you have apple with Catalina MacOS you can no longer use Metatrader on your laptop or computer. I only use apple for everything and I refuse to use Windows. I think it’s pretty pathetic that such a huge trading platform is still so behind years later and doesn’t move forward to upgrade their program to a 64-Bit and make it easy for MacOS. If you already created an app for IPhones and IPads why not just complete the job and make MacOS apps available for MacBoooks and Mac computers. Let’s see how long it will take from this review until the job actually gets done.

Overall, it’s a great app. If you’ve only used Trading View, it will take some time getting used to, however, it’s really easy to learn and navigate. MT4 seems to be the most commonly used with multiple prop firms, which is why I use and recommend it. One thing I would like to see is an easier way to adjust a the stop loss and take profit. For instance, being able to do it when you’re on the chart screen instead of having to go back into the trade screen, press and hold the desired trade, click modify trade and then enter it manually. The process isn’t bad if you have one or two trades open but when you have multiple (5-10 or more) trades open with different SL’s and TP’s, it gets tedious. This is especially true for those of us that scalp on the smaller time frames. It would also be nice to be able to adjust the chart without having to switch timeframes, like you can on the desktop MT4. Anyhow, that’s just my two cents, this is still a fantastic app and program all around.

As the title says, I never write reviews... ever. Arguments for or against that are another conversation. Alas, as far as MT4 for iOS is concerned, I feel like several small feature additions would easily earn this app 5 stars. I also figure, if I don't tell them, they won't know... hopefully it works out that way.

I feel that changing the background color on iPad versions is necessary - like, so much so that I can't believe that it isn't an option... what the hell? Lol. I know many full-time traders (myself included), and NONE of them use white backgrounds... NONE. I'm sure people do... but come on, this has to take what? 10 minutes of coding (seeing as it's already implemented on the iPhone version)? We stare at charts for hours and hours at times and it just isn't pleasant looking at a white screen, specifically at night. It's too bright!

The second feature I think would be very helpful would be that of 'Profiles.' Again, for the iPad, there should be a quick way to switch from one set of charts to another (seeing as you can have 4 charts displaying at once). Switching between charts is clunky and inelegant as it is, never mind when you have 4 charts that you want to change. For example, I trade GA mostly and always have the 1D, 4H, 1H, and 15m charts up. With a 'Profile' drop down I could switch all four of those charts to another saved profile (ideally all four to another pair for my uses, but I'm sure others would use saved profiles as well).

I'm sure there are several other items that would make life more convenient (like an easier way to close trades instantly or a 'basket' of trades), but those 2 alone would incentivize a 5 star review.

I have a trade today with USDJPY SELL

It's not being closed at TP

I bought at 119.409

Had take profit at 119.400 to test after seeing it didn't close at my lower amount.

The price went down below 119.380 but did not close my trade at any of my TP points

I double checked on the iPad and computer and all were giving the same issue and not showing the correct price. Even tried different internet.

It's forcing me to loose money this way

It keeps dropping below my TP LINE but not showing the correct price for sell and not closing.

The last issue with MT4 cost me $300 and I wonder if it's been fishy on other trades too.

Now I feel something very odd is going on.

It's not closing at my TP I've taken some screen shots showing the TIME so you can see its below my TP line. Also:
Due to an error in the App and or software I lost $300.

As per FIFO rule you can not close a 2nd position of the same currency pair without closing the first. Instead of giving me a warning or keeping this from happening, MT4 allowed a stop loss to be entered and closed the first position costing me $300 on a trade I was waiting to finish the next day.

I wrote to Forex.com for this reply:

Unfortunately we don't program MetaTrader, this is done by a different company, MetaQuotes. I understand what you're saying - the program should've blocked the stop loss entirely like it blocked your ability to close the first trade by itself- but unfortunately pending orders in MetaTrader are treated as universal for all positions in the currency pair the order is for. I'm sorry to hear that you lost money on the trade, but unfortunately there isn't much we can do about this. Please feel free to check out our other platforms. ForexTrader is developed and programmed by us in house.

Unfortunately in MetaTrader when you place a stop loss on one position you have open with a currency pair, it will close all positions you have open with that currency pair. This is due to the US regulation FIFO (first in, first out) which requires you to close out your first position opened in a pair, before you can close out any other position in that pair. This same rule is why MetaTrader would not allow you to close out your new trade before you closed out your older trade.

Regards,

Client Services Team
FOREX.com

Charts not updated since 29 Dec.

Meta demo accounts included.

Functionality of entire platform seem not to be on.

Uninstalled, reinstalled but same.

Wasn't able to access MQL to contact support.

Tried "forgot password" for login on MQL but numerous times authorisation failed, despite following reset password directions and entering right credentials. Trying to register, "I am already registered based on my email. Tried to sign in with Google, redirected to login or register. Kindly assist.

Le 7/09 j’ai crédité l’ouverture d’un compte MT4 par l’intermédiaire d’un « conseiller financier » utilisant une brochure de Meta Trader
Le broker a ouvert le compte et depuis plus rien et j’ai mis 500€
Le compte n’a pas bougé et je ne peux joindre personne
Le conseiller s’appellerait Vincent Panot et le broker Jack Bonneau
Comment récupérer mes fonds ?
Merci de votre retour
Mon adresse : Nathalie.[protected]@hotmail.fr en minuscule
Mon tél [protected] laisser message
Merci à vous
Nathalie Badé

There's an company name Bethle aster , mt4 let them bind and trade since 4 months and suddenly they unbind with mt4 and said they'll freeze the Account if we don't deposit 50 percent of our investment but after depositing they're not returning single penny, this is scam of millions of dollars and many people are going to suicide, please look into this matter because it's your responsibility too how you let scammers trade on your platform.

Blafx.com

This version must have app glitches because for my friend with same version app to have features on the demo account, which I don’t have on my demo account is ridiculous. How am I suppose to actually practice and build in real life markets when I can’t find any. I pressed the top right plus button above the quotes page to try and find a market, but to my surprise the only tab I saw was the forex tab. Everything else was nonexistent and I have video proof that another person with the same version has access to things I don’t. As my first experience with this app, I can definitely say it’s not the best I’ve had

How is it that we do not have H2 and H3 time frames automatically integrated with MT4. This app is archaic and does not offer any of the new cutting edge tools that other platforms offer. I believe that is very un thoughtful and probably done on purpose. You do not give new traders a level playing field. I literally use mt4 just to open and close positions and nothing more. All market analysis is done on TRADINGVIEW.com Look at TradingView and update your systems. Everything looks like 2005, it’s truly pathetic. Metaquotes software has done a piss poor job, and of course brokers are fine with it. Retail traders need to speak up about this.

It’s a clean interface and easily customizable which is nice.
But it needs an option to set a default position size. It also NEEDS an option to enter stop loss/ take profit in pips. This is a constant irritation. Even the desktop platform does not have this BASIC function. Also SL/TP default trade parameters would be helpful for every day trader trading with this platform.

Also the ability to tap and slide a SL or TP (as well as a pending order) on the chart would be very handy (as this is possible on the desktop).

SL/TP in pips, guys... come on! Seriously, what trader wants to search for a price with crosshairs then type it all in manually?