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 is a trading platform developed by MetaQuotes Software, and it is available in two versions: MetaTrader 4 (MT4, released in 2005) and MetaTrader 5 (MT5, released in 2010). The platform was originally designed for forex trading, and it has been adopted by brokers that offer CFDs and futures on stocks, indices, commodities, and cryptocurrencies.
The comprehensive guide for stock traders covers the setup, the interface, the order placement, the charting, the indicators, the automated trading, and the best practices. The stock trader who is new to MetaTrader should start with the setup and the interface, and should progress to the advanced features as the trading experience grows.
The setup
The MetaTrader platform is downloaded from the broker's website, and the trader uses the login credentials from the broker to connect the platform to the broker's server. The trader can also download the free demo account from the MetaQuotes website, and the demo account is the best way to learn the platform without risking capital.
The setup includes the installation of the platform, the configuration of the charting layout, the installation of the custom indicators and the Expert Advisors, and the connection to the broker's server. The trader should also set up the data feed (the real-time prices for the stocks the trader is trading) and the news feed (the economic calendar and the financial news).
The interface
The MetaTrader interface has seven main windows. The Market Watch shows the real-time prices of the instruments the broker offers. The Navigator shows the accounts, the indicators, the Expert Advisors, and the scripts. The Chart window shows the price chart of the selected instrument. The Trade window shows the open positions, the pending orders, and the account history.
The Terminal window shows the account balance, the equity, the margin, the free margin, and the margin level. The Journal window shows the platform events (connection, reconnection, errors, notifications). The Mailbox window shows the broker's messages and the signal notifications.
The trader should set up the interface with the Market Watch on the left, the Chart in the centre, the Trade and the Terminal at the bottom, and the Navigator and the Mailbox on the right. The layout is customisable, and the trader should save the layout for the frequently used configurations.
The order placement
The order placement on MetaTrader is done through the New Order window. The trader selects the instrument, the order type (market, limit, stop, stop limit), the volume (the number of lots), the stop loss, the take profit, and the comment. The order is sent to the broker when the trader clicks the Sell or Buy button.
The trader can also place the order from the chart, by right-clicking on the chart and selecting the order type. The one-click trading is available through the Quick Trading bar at the top of the chart.
The charting
The MetaTrader charting supports the candlestick, bar, and line charts, with the multiple time frames (1-minute to monthly), the multiple chart windows (up to 10 charts), the chart templates, and the chart objects (trend lines, horizontal lines, channels, Fibonacci levels, geometric shapes). The charting is the heart of the platform, and the trader should spend time learning the charting features.
The best practices
The best practice for the stock trader on MetaTrader is to start with a demo account, to learn the platform's features, and to test the strategy on the historical data. The trader should also use the platform's risk management tools (the stop loss, the trailing stop, the position size calculator) on every trade.
The trader should also keep the platform updated, because the MetaQuotes releases regular updates with new features and security improvements. The platform should be run on a stable internet connection and a reliable hardware setup. The trader should also check the broker's server status and the platform's system requirements before opening a large position.
Common questions about MetaTrader for stock traders
Is MT4 or MT5 better for stock trading? MT5 supports more time frames (21 vs 9), more order types, and a deeper analytical toolkit. The choice also depends on the broker's product range, because some brokers offer stocks only on one of the two platforms.
Can I trade US stocks on MetaTrader? Yes, through a broker that offers US stock CFDs or US single-stock futures. The broker determines the stock availability, not the platform.
What is the minimum deposit for MetaTrader stock trading? The minimum deposit depends on the broker. The typical range is €100-€500 for a standard account and €500-€5,000 for a professional account.
Related resources
Where to start
If you are evaluating MetaTrader for stock trading, the most useful first step is to download the platform, open a demo account, and complete the built-in tutorial. Our broker comparison lists the MetaTrader brokers and the available products, which together tell you what the platform looks like before you open a live account.