The best Android trading application – MetaTrader4
Reading time: 22 minutes
In this article, discover the best Android trading application to trade from your smartphone, as well as the answers to these questions you may have:
- How to download the MetaTrader 4 application for Android
- How to create and add a real or demo trading account on MT4
- What does the Android MetaTrader 4 application look like
- How to trade with a mobile application
- How to customize the settings of the MT4 application for Android
Let's get to the heart of the matter with the Android trading app!
How to download the Android MetaTrader 4 application
Like the other applications on your smartphone, the Android MetaTrader 4 app is downloadable via the "Play Store". Whether you want to trade from your smartphone or monitor the price of your favorite asset, MetaTrader 4 is the best Android trading application.
The steps to follow to download MetaTrader 4 for Android are as follows:
- 1.On your Android mobile phone, go to the "Play Store"
- 2.Tap on "Google Play" at the top of your phone's screen
- 3.Enter "MT4" in the search bar
- 4.Select "MetaTrader 4" by MetaQuotes Software Corp
- 5.Click on "Install"
This will launch the download of the Android MetaTrader 4 trading application.
That's it! Your Android trading application is now installed. All you have to do is open it and connect with your demo or real account IDs.
How to create and add a real or demo trading account on the MT4 Android trading application
Once you can see the MT4 icon on your smartphone, you can launch the Android trading application to start creating your trading account and trade from your Android smartphone.
The Android trading application MT4 can provide you with a demo account by default in a matter of seconds.
You don't have an Admiral Markets MT4 demo account?
It's not a problem!
The Android application for investing in the markets allows you to quickly create a free trading account from your smartphone with your favorite online broker.
How to open a free trading account on Android?
- 1.Open the menu at the top left of your Android trading application and select "Manage accounts"
- 2.Click on the "+" sign, located at the top right of your screen
- 3.Click on "Open a demo account"
- 4.Fill in the name of the broker "Admiral Markets"
- 5.You will then have several Admiral Markets server names
- 6.All you have to do is select either:
- AM-Demo, AdmiralMarkets-Demo or AdmiralMarkets-Demo2
Then, you need to fill in your personal information such as:
- Your name
- Your phone number
- Your email address
- Finally, information related to the trading account:
- Account type (Markets USD or Markets EUR)
- Choose the leverage you want (1:500 - 1:200 - 1:100 - 1:50 - 1:25) (example: 1:500 means that the required margin for a 100,000 EUR contract is 200 EUR)
- Choose the amount in euros or dollars that you want on the demo trading account
Once this step is completed, you can confirm your information by clicking on "Create account". This gives you access to a page where you can find:
- The name of the server on which your Admiral Markets demo account is
- Your username
- The type of account (in euro or dollar with the leverage chosen)
- The amount of the deposit on the account
- The number of your account
- Your password
- Your investor password
The Android trading application will connect directly to this new demo trading account, and you will be able to start trading with Admiral Markets.
It is also possible to manage multiple real or demonstration accounts from your Android smartphone. Moreover, you can also delete accounts from the application.
To do this, you just need to:
- Click on the 3 points at the top right of your MT4 trading application
- Select "Delete account"
- Click on "Yes" to confirm the deletion of your MT4 trading account
What if you already have a demo or a real trading account?
Here's how to connect to the MT4 mobile platform!
If you already have a real or demo trading account on your computer, you can directly connect via your Android application, with the same ID and password.
To do this, you just need to:
- Open the menu at the top left of your Android trading application and select "Manage accounts"
- Click on the "+" sign, located at the top right of your screen
- Click on "Login to an existing account"
- Fill in the name of your broker to find the server of your trading account
- Fill in the fields:
- Finally, click on "Sign In"
This will connect you to your existing real or demonstration trading account.
What does the Android trading application MetaTrader 4 look like?
The mobile MT4 trading application is intuitive and easy to understand. It is organized around 6 main tabs, placed at the bottom of your screen:
The quotations tab displays the list of all desired assets with their respective quotations: the bid price and the ask price. It is possible to customize this list according to the assets you trade the most. Moreover, you can choose the "advanced mode" of visualization of the quotations in the settings of your application to be able to keep an eye on the spread at any time.
The charts tab displays the MetaTrader 4 trading chart of the asset you have chosen, in the time frame you have selected. It is possible to perform technical analyses on this trading chart using the technical indicators available by default on the MT4 application.
This tab of the Android trading application gathers information about your account(s) such as the balance and open positions.
If you are wondering how to trade on MetaTrader 4 for Android, read the more complete "How to trade with the MetaTrader 4 application for Android" part further in this article.
The "History" tab of the application records all closed positions on the account. You have the possibility to sort them out by profit, loss, time, and other criteria.
The "news" tab gathers all the news articles that can influence the financial markets and therefore potentially your trading decisions, depending on economic and political events.
Once registered with an ID and a password, the "Chat" tab gives access to the chat and services of the MQL5 community.
The Android application also includes a menu located at the top left of your screen. In this menu, you can:
- Manage your trading accounts
- Access to the 6 tabs (quotations, charts, etc)
- Access the mailbox
- Access the settings
The settings section gathers all the options of the application, whether it is about charts, messages, or even news.
Located in the menu, the Android trading application includes all events related to the MT4 trading account, sorted by time of the day.
In this section, you can find the MetaTrader 4 version currently installed on your Android smartphone, as well as the MT5 version available for download.
How to open a trading order on MetaTrader 4 for Android
A simple click on the asset of your choice in the "quotations" tab gives you access to four options:
- The "New order" option allows you to take a position on the asset you have selected. With this option, you can:
- Place a sell order using the "Sell by market" button
- Place a buy order using the "Buy by market" button
- Choose the position size
- Set a stop loss Level
- Set a take profit level
- See the tick chart
- The "Open chart" option takes you to the chart of the asset you have selected, and allows you to analyze it with:
- The possibility to add MT4 indicators
- The possibility to add analysis objects such as trend lines or Fibonacci retracements
- The possibility to switch between time frames
- The "Symbol properties" option gathers all the characteristics of the asset you have selected, with:
- The spread
- The number of digits
- Stop levels
- GTC pending orders
- The contract size
- The profit calculation mode
- The swap type
- The long swap (for buyers)
- The short swap (for sellers)
- The margin calculation
- The margin
- The "Advanced view mode" option allows you to display more details about the financial instrument in the "quotations" tab, as we saw earlier in this article
This simple and intuitive navigation ranks MetaTrader 4 for smartphones as the best trading application.
How to trade with the MetaTrader 4 application for Android
Once the chart of your Android trading app is open, a simple touch on the rising arrow icon at the bottom center of your screen takes you to the "Trade" tab of MetaTrader 4 for Android.
When you arrive on the "Trade" tab, you only see three elements displayed in the central part, which are:
- The balance
- The equity (available funds)
- The free margin
This window offers a toolbar on the upper level of the screen. We can find:
- An icon with two arrows that allows you to sort open positions according to your preferences:
- Type of order
- Opening time
- Financial instrument
- Current profit or loss
- An icon represented by a "+" in the middle of a sheet, which gives access to another window to place orders. Within this window, we can:
- Choose the position size:
- Use the signs "- 0.1" and "+ 0.1" to define the position size you want
- Use the Android smartphone's keyboard to enter the position size you want
- Choose the stop loss level:
- Use the "-" and "+" signs to define the desired stop loss
- Use the Android smartphone's keyboard to enter the stop loss level
- Choose the take profit level:
- Use the "-" and "+" signs to define the desired take profit
- Use the Android smartphone's keyboard to enter the take profit level
- See the tick chart, which displays the price of the asset in real time
- Sell at the current market price using the "Sell by market" button
- Buy at the current market price using the "Buy by market" button
Once one of the last two buttons has been selected ("Sell by market" or "Buy by market"), the application automatically comes back to the "Trade" tab of the Android trading application. In this tab, you can observe the evolution of the open position in real time.
Once a position is open, the "Trade" tab is completed with :
- The margin level (in percentage)
- The margin
How to check the information of an open position on the Android trading app?
It is very easy; a click on the open position directly displays the position information:
- Opening date and time
- Stop loss level
- Take profit level
- ID or identification number
With Admiral Markets, stock index trading is not subject to commissions!
How to modify an order on the MT4 mobile application for Android?
It's very simple! Leave your finger on the open position, and a menu will appear directly on the screen.
This menu allows you to:
- Close your position
- This takes you to the window used to open positions, and you can then click on:
- "Close with loss" if the position is in pending losses
- "Close with profit" if the position is in pending profits
- Open a new order
- You will find all the parameters previously mentioned in this article
- Modify your order
- This takes you to the window used to open positions, and you can then:
- Modify your stop loss
- Modify your take profit
- Go to the MT4 trading chart
- This allows you to have a visual on the chart. You can see the stop loss and take profit levels of your position in order to better evaluate your trade
Once again, this simple and intuitive navigation ranks MetaTrader 4 for Android mobiles as the best trading application.
How to customize the quotations and assets on MetaTrader 4 for Android mobiles
As we previously saw in this article, the "quotations" tab displays the list of all desired assets with their respective bid and ask price. You can modify this list to only display the assets you want to trade from your Android trading application.
Once the Android trading application is launched, the "quotations" tab appears on your smartphone.
There are different ways to customize the MetaTrader 4 asset's list. Indeed, you can:
- Display the list with the "simple view mode" which is present on the Android trading app by default
- The "simple view mode" only displays the name of each asset with the real-time evolution of the bid and ask price
- Display the list with the "advanced view mode" which you can access by clicking on any asset in the list. A small window appears with the option to display the "advanced view mode"
- This mode displays more information about each asset such as:
- The spread in real time
- The exact time (just below each asset's name)
- The lowest bid price
- The highest ask price
The reverse manipulation allows you to return to the "simple view mode".
- Change the order of the assets in the list
- Using the pen icon in the top right corner of the free Android trading application, you can put your favorite assets in the order of your choice by dragging them. This option allows you to sort the assets according to your preferences. For example, you can separate forex pairs from stock market indexes or commodities
- In the same window, you can delete the asset(s) of your choice. To do this, click on the trash bin icon in the top right corner of your screen, and check the boxes (at the end of each line) of each asset you want to remove. Then, click again on the trash bin icon
- Add assets using the "+" sign, located in the top right corner of the Android trading application. To do this, you just need to:
- Select the financial instrument of your choice from the "Add symbol" list
- Click on the asset of your choice
This will immediately place the asset you've selected in the list of the "quotations" tab.
Which assets are available on the Android trading application
When you click on the "+" sign, at the top right of your MetaTrader4 application, a list appears with all the assets available for trading with Admiral Markets:
This list gathers:
- On the foreign exchange market (forex):
- 5 major forex pairs
- 23 minor forex pairs
- 15+ exotic forex pairs
- CFDs on 19 stock market indexes:
- European stock market indexes
- American stock market indexes
- Asian stock market indexes
- CFDs on 8 different commodities
- CFDs on 3 futures stock market indexes
- American shares from 38 companies
- European shares from 26 companies
- CFDs on 5 crypto currencies
- MetaTrader 4 also allows you to trade crypto currencies. The crypto currency trading application provides access to the most popular crypto currencies, in order to trade them in the most comfortable and fastest possible way
If you are looking for a Bitcoin exchange application or a Bitcoin trading application, you will find once again that the mobile MetaTrader 4 application for Android is the most robust and convenient platform to use.
- Bonds, with the German Bund for example
Once you have chosen all the assets you want to trade from your Android trading application, you can analyze the charts before taking any trade.
How to move from an asset's chart to another
First of all, it should be noted that changing the asset's chart displayed from the "charts" tab can only be done when the Android smartphone is in a vertical position. In a horizontal position, the menu does not allow you to change asset while you are on the chart.
When you're in vertical position and in the "charts" tab, it's very simple. Click on the Dollar sign "$" at the top of the toolbar. Once clicked, you have direct access to the list of all assets from the "quotations" tab.
If you click on one of these assets, the chart immediately updates itself and is being displayed in the time frame you were previously on.
Therefore, the MT4 trading application makes it easy to change assets while staying on the "charts" tab.
The technical Indicators of the MetaTrader 4 application for Android
You can add indicators (from the list included by default in the MetaTrader 4 mobile application) to your trading charts on your smartphone. This list is composed of almost the same indicators as those included in the PC version of MetaTrader 4. Let's have a look at this list by categories:
Technical indicators included in the "Trend" category:
- Average Directional Movement Index
- Bollinger Bands
- Ichimoku Kinko Hyo
- Moving Average
- Parabolic SAR
- Standard Deviation
Technical indicators included in the "Oscillator" category:
- Average True Range
- Bears Power
- Bulls Power
- Commodity Channel Index
- Force Index
- Moving Average of Oscillator
- Relative Strength Index or (or RSI)
- Relative Vigor Index
- Stochastic Oscillator
- Williams' Percent Range
Technical indicators included in the "Volumes" category:
- Accumulation / Distribution
- Money Flow Index
- On Balance Volume
Technical indicators included in the "Bill Williams" category:
- Accelerator Oscillator
- Awesome Oscillator
- Gator Oscillator
- Market Facilitation Index
How to add indicators to the MT4 trading chart on Android
Adding indicators to a trading chart is very simple. You just need to click on the "f" icon at the top of the Android trading application. This brings you a window where you can see "Main Chart". You then need to click on the "f+" icon on the right of it to display the list of all default indicators included in the MT4 mobile trading platform.
To add indicators to the trading chart on MetaTrader 4 for Android:
- 1.Press the "f" icon at the top of the MT4 trading chart
- 2.Select the "f+" icon on the right of "Main Chart"
- 3.Click on the indicator you want to be displayed on the chart
- 4.Modify (if necessary) the indicator's settings, and validate
- 5.Finally, click on "Done" or "Ok"
This brings you straight back to the trading chart on MT4 for Android, this time with the indicator added.
How to add or remove multiple indicators on MetaTrader 4 for Android
Once again, the "f" icon is the answer to this question. By clicking on "f", a window indicating all indicators present on the chart appears. From this window, you have the possibility to:
- Add a new MT4 technical indicator
- To do this, simply click on the "f+" icon on the right of your Android smartphone screen. You will once again have access to the list of indicators as we saw earlier
- Delete one or more indicators already present on the chart
- To do so, simply click on the trash bin icon at the top right of your screen, then check the boxes of the indicators you no longer want on your chart. Once you've selected the indicators you want to remove, click one more time on the trash bin icon.
All technical indicators are not available on mobile versions of MetaTrader 4. This is also the case for some indicators which allow you to see a different representation of the price than the three available by default on the MT4 trading application for Android (bar chart, candlestick, and line chart).
Some of these indicators include:
- Heiken (Heikin) Ashi for MT4 Android
- Renko chart for MT4 Android
- Pivot points indicator for MT4 Android
Nevertheless, the default technical indicators included in the MT4 trading application for Android are among the most famous and widespread indicators available. They are a valuable aid in understanding price fluctuations from your smartphone.
The possibility to add technical indicators to perform technical analyses similar to what we can do from a computer classifies the mobile version of MetaTrader 4 as the best trading application available on Android.
Which time frames are available on the MT4 trading application
Having the possibility to switch from a time frame to another is essential if you want to perform good technical analyses, whatever the market you are looking at.
The time frames available on your Android smartphone are identical to the PC version of MetaTrader 4:
- 1 minute (M1)
- 5 minutes (M5)
- 15 minutes (M15)
- 30 minutes (M30)
- 1 hour (H1)
- 4 hours (H4)
- Daily (D1)
- Weekly (W1)
- Monthly (MN)
Switching between time frames on the MT4 app
Android trading application - Vertical phone position
Once your MT4 trading application for Android is launched, and on the "charts" tab, you can find a clock icon on the toolbar, at the top right of your screen.
To switch from a time frame to another, you just need to click on the icon to access the list of all the time frames available by default on the MetaTrader 4 app for Android and select the one you want to display.
Android trading application - Horizontal phone position
In this position, time frames are even more easily accessible! A simple touch of the screen and two bars appear on each side of your Android smartphone. The left bar is the one we are interested in. It gathers all the time frames available by default on the MetaTrader 4 app for Android.
As soon as you select a time frame, the chart updates itself very quickly to display the time frame you have chosen. This allows you to perform quick analyses using several time horizons.
We remind you that Admiral Markets can provide you with free and unlimited demo accounts to give you access to real conditions on the forex, the stock, and the commodity market. These accounts allow you to try trading from your Android smartphone in complete security, without risking any real money!
About Admiral Markets
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