This is not investment advice. The information provided is for educational and informational purposes only and does not constitute a recommendation to buy or sell any financial product.
MetaTrader can be used for trading stocks, but the support depends on the broker and the type of stock product. MetaTrader does not support direct trading of US stocks on the NYSE or NASDAQ, and MetaTrader does not support the full range of stock exchange products. The trader who wants to trade stocks on MetaTrader should understand the differences.
What MetaTrader supports
MetaTrader supports stock CFDs through the broker, and the broker determines the stock availability. The broker offers a list of stock CFDs, and the list includes major US stocks, European stocks, and some Asian stocks. The trader can place market orders, limit orders, and stop orders, and the trader can use the full range of MetaTrader features on the stock CFDs.
MetaTrader supports the same order types on stock CFDs as on forex, and the trader can use the one-click trading, the alerts, and the Expert Advisors. The trader can backtest the EA on stock CFD data, and the trader can optimize the EA for the specific stock. The support is similar to the support on forex, and the support is built into the platform.
MetaTrader also supports stock indices through the broker, and the indices include the S&P 500, the NASDAQ 100, the DAX 30, the FTSE 100, and the Nikkei 225. The indices are popular with retail traders, and the indices are available on MetaTrader 4 and MetaTrader 5. The trader can trade the indices with the same features as the stock CFDs.
What MetaTrader does not support
MetaTrader does not support direct trading of US stocks on the NYSE or NASDAQ. The trader who wants to own the shares and receive the dividends should use a different platform, like Interactive Brokers' Trader Workstation, TD Ameritrade's thinkorswim, or a retail broker with direct market access.
MetaTrader does not support the full range of stock exchange products, like mutual funds, bonds, and ETFs. The trader who wants to buy an ETF should use a different platform, and the trader who wants to buy a mutual fund should use a full-service broker.
MetaTrader does not support the real-time data feed for all stocks, and the data feed depends on the broker. The broker may offer delayed data, and the delayed data may not be sufficient for short-term traders. The trader should check the data quality before opening an account, and the trader should look for a broker with real-time data.
How to start trading stocks on MetaTrader
The first step is to choose a broker. The trader should pick a broker that offers MetaTrader and the stock CFDs the trader wants to trade. The broker should be regulated, and the broker should segregate the client funds. The trader should compare the broker's fee schedule, the broker's product range, and the broker's customer support.
The second step is to open a demo account. The demo account allows the trader to test the platform and the stock CFDs without risking real money. The trader should test the order types, the charting, the data quality, and the execution speed. The demo account is a good way to learn the platform, and the demo account is a good way to validate the broker.
The third step is to fund the account. The trader can fund the account with a bank transfer, a credit card, or an e-wallet, and the trader should check the minimum deposit. The funding can take a few minutes to a few business days, and the trader should plan the funding accordingly.
The fourth step is to place the first trade. The trader should start with a small position, and the trader should use a stop-loss to limit the loss. The trader should monitor the position regularly, and the trader should adjust the position as the trade evolves.
The main advantages of trading stocks on MetaTrader
The first advantage is the automated trading. The trader can use Expert Advisors to automate the stock CFD trades, and the trader can run the EA 24/7 on a VPS. The automation is a key advantage over other platforms, and the automation is the main reason many traders choose MetaTrader for stock trading.
The second advantage is the custom indicator library. The trader can download thousands of indicators, and the trader can use the indicators on the stock CFDs. The indicators cover every trading style, and the trader can find an indicator for almost any strategy.
The third advantage is the multi-broker support. The trader can move the account from one broker to another without changing the platform. The trader keeps the same charts, the same indicators, and the same EAs, and the trader only changes the broker connection.
The fourth advantage is the backtesting. The trader can backtest the EA on historical stock data, and the trader can validate the EA before going live. The backtester is built into the platform, and the backtester supports multiple symbols and multiple time frames.
The main limitations
The first limitation is the product range. MetaTrader supports stock CFDs and stock indices, and MetaTrader does not support direct stock trading. The trader who needs direct stock trading should use a different platform.
The second limitation is the data feed. The data feed comes from the broker, and the quality of the data depends on the broker. The broker may offer delayed data, and the delayed data may not be sufficient for short-term traders.
The third limitation is the interface. The interface is functional, and the interface is not as polished as the proprietary platforms from the major brokers. The interface is harder to learn for beginners, and the interface requires some setup.
Common questions about MetaTrader for stocks
Can I trade US stocks on MetaTrader? Yes, through a broker that offers US stock CFDs. The broker determines the stock availability, not the platform.
Can I receive dividends on MetaTrader stock CFDs? It depends on the broker. Some brokers adjust the position for dividend payments, and some brokers do not. The trader should check the broker's policy on dividends, and the trader should look for a broker that pays the dividend adjustment.
Is MetaTrader free for stock trading? Yes, the platform is free for the trader, and the broker pays the licence fee.
Related resources
Where to start
If you are evaluating MetaTrader for stock trading, the most useful first step is to open a demo account at a regulated broker, and to test the stock CFDs on a few stocks you follow. Our broker comparison lists the MetaTrader brokers and the available stock products, which together tell you what the broker offers before you open a live account.