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Originally Posted On: https://www.fpmarkets.com/education/platform-guides/getting-started-with-mt4/
MetaTrader 4, or MT4, widely used among retail foreign exchange (and CFD) speculative traders, is one of the world’s most popular electronic trading platforms, supporting Windows, iPhone and Android.
Although unable to natively run on Mac OS – the desktop version of the MetaTrader 4 trading software was designed to run on Microsoft Windows – Mac users can still use the MT4 platform.
A compatibility layer is there to translate parts of the application designed for Windows to their Mac OS counterparts. Like human languages, though, some things do not translate. Consequently, some features in MetaTrader 4 won’t function outside of Windows. Still, most who trade Forex believe the positives outweigh the negatives.
MT4 offers several beneficial plugins – it’s a solid platform providing real-time data, a user-friendly interface, charting functions, rapid movement between multiple time frames and offers a wide range of languages. The majority of Forex brokers supporting MT4 also allow a worldwide client base.
Five years following the launch of MT4, MetaQuotes Software Corp created MT5 MetaTrader 5 (MT5). Although newer, MT5 is less popular. MQL5 (MetaQuotes Language 5) is not backward-compatible with MQL4 (MetaQuotes Language 4). This code is typically written in a built-in editor called MetaEditor – a great deal of code has been written in MQL4 and it would take a lot of effort to rewrite it.
Several options are available to configure MetaTrader 4 for Mac OS. In order to ensure a sound working knowledge of MT4, though, traders are urged to check out the User Guide accessible on MetaTrader’s website.
Wine allows users to execute applications developed for Windows systems.
Wine, however, is not a stable application. Some features of the application may not function correctly.
Installation on Mac OS MetaTrader suggests using the free application: PlayOnMac, a Wine-based software.
- Download the PlayOnMac installation. This will be in the form of a DMG file.
- Locate the DMG file and launch it. PlayOnMac installer should appear.
- You’ll then receive PlayOnMac needs to install XQuartz to work. Select Please download XQuartz for me. The installer will proceed through several steps. Follow through the interface, clicking Next. Read and accept the license agreement. Finally, you’ll be prompted for your name and password to install the new software.
- The system will likely instruct you to reboot – reboot in this case.
- Once the system is back online, PlayOnMac will offer to install Microsoft Windows fonts. It is a good idea to do this.
- Accept the conditions of the license agreement. Once the installation is complete, the software is ready for use.
- It is recommended to run the latest stable version of Wine. You can manage the versions of Wine in PlayOnMac by visiting Tools on the menu bar and selecting Manage Wine Versions. Select the latest version and click the arrow button in the middle of the dialogue box to install.
- Once PlayOnMac and Wine are organised, download MetaTrader (m4setup.exe) from the MetaTrader 4 website or your Forex broker. This is a Windows executable file, but since PlayOnMac is based on Wine it will understand the .exe file and attempt to emulate a Windows environment for it to execute in.
After downloading MT4, launch the .exe file. The standard terminal installation should offer to create a shortcut for easy access. PlayOnMac creates a separate virtual logical drive to house the environment for each application it installs. The path to the data folder for Client Terminal is similar to: LibraryPlayOnMacWinePrefixClient_Terminal_Drive CProgram FilesClient Terminal
Going forward, you can double click on the Client terminal shortcut to launch MT4 within the PlayOnMac environment. There you’re able to set up your trading account and start trading.
MetaTrader 4 Bundled into a Mac App
Some Forex brokers provide a version of MetaTrader 4 bundled inside a Mac app. This bundles a version of Wine with the software in such a way that it is easy to install for the user. This is perhaps the easiest way to get off the ground with MetaTrader 4 on Mac OS. Some of these installations only work on Mac OS versions earlier than OS X (Catalina). In late 2019, an update for OS X broke this type of MetaTrader 4 installation.
MetaTrader 4 Inside a Windows Virtual Machine
For some, this might be more of a desirable option. Unlike the other two choices, all features on MT4 should function since you are working with a Windows machine inside Mac OS. However, if you are accustomed to a workflow using Mac OS, switching between the two can become tedious.
There are several options available for virtual machines in Mac OS. VirtualBox is a free choice – Parallels Desktop and VMware Fusion are paid alternatives. With this approach, you must acquire a license for Windows – more expensive than corresponding licenses for Apple Mac OS.
Once the Windows installation process is complete, download MT4 and install it on the Windows virtual machine.
MT4 for Mac OS
MetaTrader 4 is a popular platform.
Mac OS is a popular operating system.
It seems only fitting there should be an avenue to merge the two.
FP Markets’ custom-built application for AppleMac lets you enjoy all the advantages of MetaTrader 4 without needing to install additional operating systems.
Our AppleMac MetaTrader 4 application gives Mac users all the functionality that is normally only available to PC users: just by installing a simple application.
Apple Mac Metatrader 4 online trading platform features:
- Access a complete set of trading orders, with pending orders included.
- The ability to run all Expert Advisors (EAs).
- Complete range of in-built indicators and trading tools – essential for those who use technical analysis.
- Access to complete analysis functionality and advanced real-time charting.
- Execution speeds that are exceptional in the marketplace.
Regardless of the installation method, trading Forex on a demo account – before transitioning to a live account – is recommended for beginners. Test all aspects of your Forex trading strategy, remembering to factor in risk and money-management principles, including stop-loss positions and take-profit points.