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MetaTrader 4 FAQ

  1. How do I register for a demo account?
  2. How do I open a live account?
  3. What is the minimum to open an account?
  4. Can I trade micro lots?
  5. How do I change my password on MetaTrader?
  6. When I load up the platform, the charts say “Waiting for Update”. What do I do?
  7. How do I place a trade?
  8. Is there a cap on my order size?
  9. How do I modify Stop Loss and Take Profit levels
  10. When are ‘Stop Loss’ and Take Profit’ orders executed?
  11. What happens if I have a stop loss on an open order, but I also have a trailing stop on the same order?
  12. How do I place a Pending Order?
  13. Is MT4 mobile trading platform available?
  14. Will I be able to download the software on my Macintosh computer?
  15. How do I turn on my EA to start trading?
  16. Are there any restrictions on EAs allowed while trading on CMS MetaTrader?
  17. How do I attach an Expert Advisor (EA) to a chart?
  18. How do I change properties of an EA attached to a chart?
  19. What are common file extensions supported by Expert Advisors?
  20. Can I have multiple EAs running at once?
  21. Do you provide any EA support? Where can I find EA support?
  22. I would like my account to be managed by a money manager, how do I give him access and how do I get access?
  23. Can I show multiple accounts in the MT4 client terminal?
  24. How do I obtain information on my account and daily transactions on the MetaTrader platform?
  25. How do I display a bar chart?
  26. How do I display a candlestick chart?
  27. How do I display a line chart?
  28. How do I zoom in or out of a chart?
  29. How do I insert chart indicators?
  30. How do I select the language used?
  31. Are there any keyboard shortcuts I can use to show the different windows on the platform?
  32. How do I display High/Low Prices in the Market Watch window?
  33. Do you provide a guide to assist with setting up charts? What type of options do I have?
  34. How do I change the time period on the Metatrader charts?
  35. I have specific user settings that I would like to apply each time I start my platform how can I set them to load? (MT4 - Templates)
  36. How can I create trend lines and other line studies (drawing tools)?
  37. Why do I get the error message "Trade Context Busy"?
  38. What do I do when I get a “Common Error” message?
  39. What does the “Off Quotes” error message mean?
  40. How do I add a custom indicator to my MT4 platform?
How do I register for a demo account?
It’s easy to register for an MT4 demo account. Simply click here to sign up for a demo account and download our MetaTrader platform.

How do I open a live account?
To fill out a live account application online go to http://www.cmsfx.com/en/my-account/open-live-account/ select the MT4 Live account tab and follow the on screen instructions.
If you have any questions along the way our team of account executives would be more than happy to assist.

What is the minimum to open an account?
The minimum deposit for trading on our MetaTrader 4 platform is 250 USD or currency equivalent. You can open an account denominated in USD, EUR, GBP, AUD, NZD, CAD, CHF or JPY.

Can I trade micro lots?
Yes, micro lots are available on our MetaTrader 4 platform.

How do I change my password on MetaTrader?
The steps are as follows:
  • On the top Menu bar, select TOOLS > OPTIONS or keyboard shortcut (Ctrl+O).
  • Under the SERVER tab, select CHANGE.
  • Input the current password in: “Current Password” text field.
  • Select ”Change master password” if it is not checked already.
  • Input the new password in: “New Password” text field.
  • Re-type the new password in the second “Confirm” text field.

When I load up the platform, the charts say “Waiting for Update”. What do I do?
Don’t be alarmed if you see this message. Simply drag and drop a currency pair into the chart window and the chart will appear. Alternatively, you can right click over a currency pair and select "Chart Window".

How do I place a trade?
MT4 offers numerous ways to place an order. Any of the following steps will open the ‘Order’ window:

  • Double click on the currency pair in the ‘Market Watch’ window.
  • Right click on the chart window and select Trading -> New Order from the context menu.
  • Right-click on the ‘Market Watch’ window or on the ‘Trade’ tab of the ‘Terminal’ window and select New order from the context menu.
  • Use the Tools -> New Order menu sequence.
  • Press the F9 button.

Is there a cap on my order size?
No, there will be no size limits on MT4 orders. Large orders may be executed through partial fills.

How do I modify Stop Loss and Take Profit levels?

  • On the "Terminal" window and select the "Trade" tab.
    If the terminal window is not open it can be opened on the menu by selecting "View" -> Terminal or by pressing CTRL-T
  • Right-click on the open position or pending order then select "Modify or delete order". The "Modify order" window is enabled.
  • Alternatively The "Modify order" window can be opened by doubleclicking on the position order in the trade window.
  • Fill in the "Stop Loss" and "Take Profit" fields.
  • By pressing the red button you can copy this level into the "Stop Loss" field.
  • By pressing the blue button you can copy this level in the "Take profit" field.
  • The value in the "Level" field defines the difference between the order level and the current price.
  • Once you fill in the "Stop Loss" and/or "Take profit" fields press the "Modify position number" button.

In order to delete "Stop Loss" or "Take Profit" orders, specify its level as equal to zero.

When are ‘Stop Loss’ and Take Profit’ orders executed?

  • The "Take Profit" order on an open Buy position is executed if the Bid price in the quotes flow becomes equal or higher than the order level.
  • The "Stop Loss" order on an open Buy position is executed if the Bid price in the quotes flow becomes equal or lower than the order level.
  • The "Take Profit" order on an open Sell position is executed if the Ask price in the quotes flow becomes equal or lower than the order level.
  • The "Stop Loss" order on an open Sell position is executed if the Ask price in the quotes flow becomes equal or higher than the order level.

The order will be executed if at least one quote in the quotes flow reaches the order level:

  • Minimum Ask price is equal to the minimum bar price (Low) plus spread.
  • Maximum Ask price is equal to the maximum bar price (High) plus spread.
  • Minimum Bid price is equal to the minimum bar price (Low).
  • Maximum Bid price is equal to the maximum bar price (High).

Note: in MetaTrader 4, charts are created using Bid prices.

What happens if I have a stop loss on an open order, but I also have a trailing stop on the same order?
If the trailing stop gets triggered, there will be a new stop loss depending upon the trailing stop that you entered.

How do I place a Pending Order?
Open the ‘Order’ window:

  • Right click on the "Market Watch" window or on the "Trade" tab of the "Terminal" window and select New order from the context menu; or
  • Press the F9 button; or
  • Use the Tools -> New order menu sequence; or
  • Right-click on the chart window and select Trading -> New order from the context menu; or
  • Double-click on the currency pair in the "Market Watch" window.
  • Then choose the Pending order item from the drop down list.

Once the Place order button is pressed, the instruction is sent, the order is confirmed, and it appears in the ‘Trade’ tab of the ‘Terminal’ window.

In order to modify or delete a pending order highlight it in the ‘Terminal’ window, then right click to produce the context menu. Select Modify or Delete order. Press the Modify button or the Delete button depending on your choice in the dialog window.

Is MT4 mobile trading platform available?
At the moment, mobile trading is not available. We expect to have MT4 mobile up and running in the near future. You may be interested in our VPS service which allows you to access your MT4 from any device with internet access, including At iPhones and iPads. Learn more here.

Will I be able to download the software on my Macintosh computer?

Unfortunately, the MT4 software will only be available for Windows users. However, our VPS service will not only allow you to trade on MT4 from a Mac, but will also let you run your EAs all the time, even if your home computer is off.

How do I turn on my EA to start trading?

To turn the ability to use EAs on and off, simply toggle the Expert Advisors button in the Standard toolbar at the top of the platform. When the button is green, EAs are turned on, and when the button is red, EAs are turned off.

Are there any restrictions on EAs allowed while trading on CMS MetaTrader?

No, not at all. With MetaTrader you can trade with any EA you’d like.

How do I attach an Expert Advisor (EA) to a chart?

To attach an EA to a chart use the following steps.

  • In the MT4 terminal open the desired chart.
  • Select the proper time frame by clicking one of the icons on Periodicity toolbar or Chart > Periodicity menu.
  • Make sure that the “Navigator” window is open. The default location of this window is below the “Market Watch” window on the left side of the MT4 terminal.  If the “Navigator” window is not open either press Ctrl+N or from the View menu select Navigation.
  • In the “Navigator” window click the “+”sign next to “Expert Advisors”. The list of current EAs appear in the window.
  • From the list either drag-and-drop the EA to the chart or double-click it. A dialog box appears.
  • On the “Common” tab select the “Allow live trading” option.  If you do not select this option the EA does not enter trades automatically.
  • On the same dialog box select the “Inputs” tab. The tab is located at the top of the dialog box. In this tab you can make any changes to external variables
  • Click OK. A smiley (happy face) appears on the upper right corner of the chart indicating that the EA is running.

You may see an “x” sign instead of the happy face. This means that all of the EAs are deactivated. To activate EAs from the Standard toolbar press the “Expert Advisors” icon.

If instead of the happy face you see a sad face it means that this EA is not allowed to trade live. To enable live trading:

  • Press F7 to see the EA properties dialog box.
  • Select the “Common” tab.
  • Select “Allow live trading.

How do I change properties of an EA attached to a chart?
To change the properties of an EA that is attached to a chart use the following steps:

  • In the MT4 terminal open the chart.
  • Press F7 to see the EA properties dialog box. Alternatively, you may right click on the smiley located on the upper right side corner of the chart and select Properties from the pop-up menu.
  • To change the values assigned to external variables, select the “Inputs” tab and make the desired changes or click Reset to restore the original settings of the EA.
  • To change other options select the “Common” tab and select or deselect desired options.
  • Click OK.

What are common file extensions supported by Expert Advisors?
MQ4 and EX4 are the only file extensions supported.

Can I have multiple EAs running at once?
Yes, you can run multiple Expert Advisors simultaneously. It is also possible to have two different EAs running for the same currency pair at the same time by opening two charts for the same instrument.

Do you provide any EA support? Where can I find EA support?

For basic support (instructions on how to import and activate EAs, etc.), please view our user guide. For any issues, please contact our Technical Support Department at customersupport@cmsfx.com.

I would like my account to be managed by a money manager, how do I give him access and how do I get access?
If you would like to specify a specific money manager, please fill out our LPOA form upon account opening. If you already have a live account and would like it to be managed by a money manager, please request an LPOA form by emailing account@cmsfx.com. You won’t be able to make trading decisions or trade your account yourself, but all our managed clients have access to end of day reports on trade activity.

Can I show multiple accounts in the MT4 client terminal?

No, only one account can be shown at a time in the MT4 Client Terminal.  However, it is very easy to log out of one account and right into another one. 

How do I obtain information on my account and daily transactions on the MetaTrader platform?

Use the TERMINAL section of the platform. If this section is not open, go to VIEW > TERMINAL (or use keyboard shortcut Ctrl+T).
The steps are as follows:  

  • In the TERMINAL section, select the Account History Tab.
  • This tab shows the history of your account, for convenience, this information can be viewed on screen, saved, or exported.
  • Right click anywhere in this section.
  • Select ‘Save as Report’. (This can be saved as an HTML file that can be converted to an Excel File for your records.)

How do I display a bar chart?
On the top Menu bar, select CHARTS > BAR CHART or use the keyboard shortcut (Alt+1).

How do I display a candlestick chart?
On the top Menu bar, select CHARTS > CANDLESTICKS CHART or use the keyboard shortcut (Alt+2).

How do I display a line chart?
On the top Menu bar, select CHARTS > LINE CHART or use the keyboard shortcut (Alt+3).

How do I zoom in or out of a chart?
The steps are as follows:

  • Make sure the “charts” toolbar has been enabled
  • Next, select the icon for the appropriate action located under the Menu Bar. i.e. ‘+’ and ‘-‘.
  • Select either icon to zoom in or out of the chart.

Or, use the keyboard shortcut for this function. To zoom in (Shift +), and to zoom out use ( - ).

How do I insert chart indicators?
On the top Menu bar, select INSERT > INDICATORS. You can also insert chart indicators by right clicking on the chart.

How do I select the language used?
On the top Menu bar, select VIEW > LANGUAGES, select the language preference.

Are there any keyboard shortcuts I can use to show the different windows on the platform?
Most commonly used keyboard shortcuts:

  • Ctrl + M = Market Watch window
  • Ctrl + N = Navigator window
  • Ctrl + T = Terminal window

How do I display High/Low Prices in the Market Watch window?
The Market Watch window, displays the high/low prices.
The steps are as follows:  

  • In the Market Watch window right-click (anywhere)
  • Select “High/Low.” (The high and low prices will appear for each currency pair for that particular day.)

Do you provide a guide to assist with setting up charts? What type of options do I have?
Yes. The MT4 platform is one of the most advanced platforms in the market and this is especially true regarding the charting options and packages that are provided within.
Use the Help Topics option under the Help Menu (press F1) has a section labeled ‘Working with Charts’. This section should be a good start to get you going.

To change the overall appearance of the charts go to: Menu bar—Charts--Properties. This allows you to change the color of the background, foreground, grid, etc.). To adjust the size of the chart if it is not maximized, roll over the border of the chart window until you see the double sided arrow and hold the mouse button down to adjust the size.

How do I change the time period on the Metatrader charts?
To add time periods to the main menu bar select VIEW > TOOLBARS > PERIODICITY. (If needed) Use the following legend for applying time periods to charts:  

  • M1 = 1 minute chart
  • M5 = 5 minute chart
  • M15 = 15 minute chart
  • M30 = 30 minute chart
  • H1 = 1 hour chart
  • H4 = 4 hour chart
  • D1 = daily chart
  • W1 = weekly chart
  • MN = monthly chart

I have specific user settings that I would like to apply each time I start my platform how can I set them to load? (MT4 - Templates)
To save the settings to default so that whenever a new chart is opened the settings are automatically applied (once the chart is modified) go to the “Template” button (usually the last button on the right of the toolbar), click “Save Template” and give your template the name "Default.”.
Saving a template will save the following chart settings:  

  • chart type (bars, candles or line)
  • color chart scale (zoomed in or out)
  • any custom indicators
  • any expert advisors
  • day separators

How can I create trend lines and other line studies (drawing tools)?
The steps are as follows:

  • On the top Menu bar, select INSERT
  • Then select the desired trend line.
  • After releasing the mouse button, a graphic icon of the selected trend line with a cross hair attached will appear. Using the mouse, place the cross hair over the selected chart. Click and hold the mouse button while moving the mouse to adjust the size of the trend line.
  • Line study short cuts can also be quickly accessed by clicking on VIEW > TOOLBARS > LINE STUDIES to make the icons appear right below the Menu Bar.
  • There are additional options to select that appear on the top of the screen. These include fast clicks to the Trend line, Crosshair, Fibonacci Retracement, etc.

Why do I get the error message "Trade Context Busy"?
All market execution orders on MT4 will be filled at the best price available in the market. There can be a delay in getting a confirmation from our banks. This message appears if the cancel button is pressed while an order is in the process of execution. To resolve the error message Trade Context Busy, log out and log in to the Metatrader 4 platform.

What do I do when I get a “Common Error” message?
The “Common Error” message is displayed, you may want to try logging off and logging back on. If this does not work, please double check your IP address/servername. If you are still having trouble, please contact our Technical Support Department at customersupport@cmsfx.com.

What does the “Off Quotes” error message mean?
During times of extreme volatility and low liquidity, such as important economic news releases, prices fluctuate extremely rapidly. The “Off quotes” message means that by the time your order reached the server, the price had already changed and therefore, could not be honored.

How do I add a custom indicator to my MT4 platform?

Custom indicators can be developed using the MetaEditor or can be downloaded from a variety of online sources. The following steps will enable you to add your custom indicator into your Metatrader 4 platform.
  1. A custom indicator should be saved in the expertsindicators directory where MetaTrader is located on your computer or VPS, e.g. C:Program Files (x86)/CMS MetaTrader 4 Client Terminal/experts/indicators
    If you are not sure where MetaTrader 4 is installed you can right click on the shortcut icon on your desktop and select “properties, then select the shortcut tab. The path will be shown next to the field labeled target
  2. If you saved the indicator elsewhere, use the following steps to add a custom indicator to MT4
    • Open Find the directory where MT4 is installed on your computer or hosted VPS, e.g. C:Program Files (x86)/CMS MetaTrader 4 Client Terminal
    • Double click the experts folder
    • Double click the indicators folder
    • Copy / paste or drag and drop your custom indicator the expertsindicators directory
  3. Restart MT4
  4. You should see the indicator listed under custom indicators
    If you do not see the indicator listed please check to make sure the file is in the correct directory. If it is still there as an mq4 file, but no ex4 file it might mean that the file is not compiling properly. check your code or with the vendor you recieved the indicator from
  5. To add the indicator to a chart, drag it onto the chart or click on the chart you want the indicator to appear on and then double click on the indicator

Note the .mq4 extension is the source code file and the .ex4 is the compiled code for the indicator. If you place only the .mq4 code in this directory MT4 will automatically compile the code when it restarts.