Question 1

Is MetaTrader 4 a broker?

Accepted Answer

No, MetaTrader 4 is not a broker. It is a Trading Platform (software)

Why do people think MetaTrader 4 is a broker?

It is understandable people might think MetaTrader 4 is a broker as it is the worlds most popular trading platform, used in many trading screenshots online and examples in YouTube videos.

A analogy to help people understand the relevance of a trading platform, is how you might connect to the Internet:

“The Internet” is like the “Financial Markets”.

An ISP (Internet Service Provider) is a like “Broker”, for a fee or commission they will enable you to connect to the Internet.

MetaTrader a Trading Platform

MetaTrader 4, commonly referred to as MT4, is a trading platform[1]that can be installed on Windows, Mac, Android, iPhone and Linux. With native versions of each.

MT4 is best used on Windows, I have found there are a few issues on the Mac version and it is less responsive, so I’d recommend using Windows to use MT4.

When you become more experienced at trading, or If you are running trading scripts and trading bots (in MetaTrader these are known as EAs or Expert Advisors) it’s highly recommend you use a VPS[2] (Virtual Private Server) which will allow you to run the MetaTrader 4[3] platform 24/7 and enable you to turn your computer off and keep MT4 trading.

There is also a “web trader” version of MT4 available allowing you to use MetaTrader within most web browsers. This is offered by most brokers, but it a version of MT4 with limited features.

Essentially you log into MT4 using the username and password provided by your broker. You commonly use your brokers backend system to fund (and withdraw) funds from your account.

Once you login to MT4 the funds will be available via your broker[4] account.

Different Versions of MetaTrader 4

Brokers provide MetaTrader4, among other thrid-party trading platforms, such as cTrader[5] or even MetaTrader 5, a newer, but less popular MetaTrader version of MetaTrader made by MetaQuotes.

It’s important to note, MetaTrader 4 is by no means exclusive, although many brokers marketing material would suggest it is, this is just marketing spin.

Awards for “best trading platform” when a brokers primary trading platform is MT4 is normally based on what plugins and tools are offered or latency (speed) offered by the broker, generally if your connection to the markets is quick, an “award” for best trading platform is not something that should sway your decision when choosing a broker[6].

As mentioned brokers may have different plugins and add-ons for MT4 they offer to their customers, like Autochartist[7] or “MT4 Supreme Edition” but essentially it’s just MT4 with add-ons. MT4 is, essentially, the same across all brokers.

MetaTrader 4 Brokers - What Does this Mean?

Some brokers have no proprietary software and are completely reliant on third-party trading platforms, like MetaTrader, to connect their clients to the markets.

These brokers are commonly referred to as “MetaTrader Brokers[8]“.

Brokers Pay A License For MetaTrader 4

Brokers pay a license that enables them to use MT4, this is dependant on the amount of users they have and the “add-ons” and “white label” functions they use.

The cost of a MetaQuotes license can be $100,000[9] it depends on users and the deal the brokers have licensed with MetaQuotes.

MT4 Being Phased Out For MT5

What’s interesting is that MetaQuotes are no longer providing new brokers MT4 licenses and no more additional MetaTrader 4 licenses to brokers, although it is still by far the most popular trading platform.

Due to this MT4 accounts are becoming sought after by seasoned traders and some brokers are offering traders incentives to traders to switch to using MetaTrader 5.

MetaQuotes themselves want customers and brokers to start using their newer platform MetaTrader 5 (MT5) and will stop offering support to MT4.

MetaTrader 4 Download

Due to the above limitation of MT4 it is no longer easy to download MT4 directly from the MetaQuotes website, the links are all still available but it will download MT5 when you click the links.

MT5 is find If you’re just starting trading, and can do all MT4 does. Most seasoned traders have been using MT4 so prefer it offers.

Question 2

Which platform is better in FXView: MT4 or ActTrader?

Accepted Answer

Based on popularity and expanded functions, we would suggest that MetaTrader 4 (MT4) is a better platform than ActTrader.

While ActTrader was founded in 2000, MetaTrader 4 is the worlds most popular trading platform, with over 14 million users worldwide as of 2014.

If you ever decided to leave FXview to trade with another broker, it’s highly likely they will have MT4 or MT5 as a trading platform. It’s unlikely they would have ActTrader, a more boutique trading platform.

MetaTrader 4 (and 5) have many tutorials, guides and videos online.

Finally, MT4 is becoming sought after.

MetaQuotes, the company behind MT4 are limiting licenses being given out to brokers from now on as they are favouring MT5, which is very similar to use and will eventually supersede MetaTrader 4, although you will be able to transfer all your data across from MT4 > MT5.

The same cannot be said for ActTrader.

Finally, a 2023 survey revealed that 65% of traders use MetaTrader 4, while only 14% use other platforms.

It is discussed between traders here.

Question 3

What is the minimum deposit at Titan FX?

Accepted Answer

With Titan FX you can start forex trading with a low minimum deposit of $200 or if depositing with Japanese Yen ¥, the equivalent to match 200 USD, to open your first account.

What is the minimum Yen deposit at Titan FX?

The minimum Japanese Yen (¥) deposit is the equivilant of 200 USD, whatever that rate might be at the time.

Question 4

Does AvaTrade give a bonus?

Accepted Answer

AvaTrade gives welcome bonuses to new customers who have never traded with AvaTrade before. If you are not clear on how to recieve an AvaTrade bonus or as it is known to AvaTrade, an “AvaTrade Partner Code”, you can click here and it will guide you through how to claim an AvaTrade sign up bonus. Using the partner code 128979 will get you the maximum available bonus.

Be aware that some regions are not eligable for a sign up bonus, please check the T&Cs for your region.

Question 5

Does easyMarkets accept US clients?

Accepted Answer

In short, no, easyMarkets does not accept US clients.

Question 6

How to sign up to eToro step by step guide

Accepted Answer

Today we will show you how you can sign up to eToro in just 10 minutes.

Follow our step by step sign up guide for eToro and understand the eToro sign up questions.

It is safe to invest with eToro online from a regulatory perspective. eToro are one of the more mainstream brokers with a user base of over 13 million traders.

Remember, use our link here to sign up so you can get our free guides about eToro copy trading and trade management, or click the “Open Account” button below.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

5 Quick Steps to Opening an Account with eToro

Create your free eToro account by providing your personal details - click here
Provide a telephone number to protect your accounts security
Answer the eToro questions to assess your trading experience
Verify your eToro account by supplying ID, proof of identity and proof of your address
Deposit funds to buy and sell currencies (forex), stocks or cryptocurrencies.

Step by Step Sign up on eToro

Firstly things you will need when signing up:

National ID or Passport
Bank account statement with your address on it

Other requirements are a phone number and an email you've never used with eToro before. If you don't have these to hand, it is possible to start the sign up process now and upload a bank statement and your ID later when you have them.

Fill in the First Form

When starting the first eToro form asks for your personal information, such as your name, email and then to chose a username and password.

A quick tip is to make your username a good one, to make it stand out.

This helps if you decide to become an eToro popular investor as your username is public and other people can see it and will follow it.

When it stands out encourages others to view your profile. Alternatively, if it's available you can use the same useranme as your other social media profiles to build your own brand as a trader.

If you want to remain anonymous in the public domain, don't use the same username as your other social media accounts or profiles as you'll be found easily from a Google search.

After this step is complete move to the next step, adding your information. You're now inside your eToro account. Click complete profile on the top left corner under your username.

Gender and Date of Birth

Make sure to select same date of birth as on your Passport/National ID. Once done click continue.

Your Address (as on Bank Statement)

Next you have to provide your address, make sure you give the same address as shown on your bank statement, or your proof of residence document.

Your Trading Experience

Next you will be asked about trading and your personal trading experience. Of course you must be honest with your answers to comply with the sign up process. However when I signed up I gave the following answers to the questions, which is a good answer to the given question.

eToro Trading Knowledge Question

eToro will ask you tabout your trading knowledge and provide you some choices around how you learned or are learning to trade.

eToro Trading Knowledge Assessment

Next eToro will ask you to answer a question and give you some choices around trading knowledge.

eToro Planned Investments

In this section it's recommended you check all items, as it is possible you may trade any of the instruments at any time, if you wish.

eToro Trading Strategy Question

Now we will select our strategy and the purpose of trading. We selected few weeks to several months. Although we are interested in long term gains and indeed short term day trading, a balanced view is best.

eToro Purpose of Trading Question

Within this section, we chose additional revenues.

eToro Attitude to Risk Question

This obviously depends on personal circumstances. The view is to keep a balanced portfolio. We obviously never want to risk more than our liquid assets or more than we can afford.

eToro Conflict of Interest Question

The eToro conflict of question asks you about your relationship with other brokers etc. You should answer honestly depending on your status to proceed.

eToro Source of Income Questions

Financial Status and source of income questions are presented next. Provide your primary source of income.

eToro Phone Verification

After doing this you will be asked to verify your phone number, which is very straight forward. You'll receive a code and you enter it into the eToro website.

At This Point You Can Trade

You can trade and provide further information at a later date to fully verify.

Passport or ID Card

You'll be asked to upload your passport or ID card, this can be postpone and done when you have them to hand. The process is very simple. This is not vital to trade right away, but you will eventually be required to verify.

eToro Address Verification

This is where you will need your bank statement, a utility bill or drivers license as proof of identity. The document must include your name, address and if a statement or bill be issued in the past 6 months.

eToro Tax Identification Number

This is country dependent based on where you're signing up to eToro from, however this is where you enter your tax identification number and records.

Accept eToro Terms and Conditions

Finally you will have to accept the eToro terms and conditions. Read over them and then click read and accept.

That is it, you'll now be fully registered to trade with eToro as your verification is pending.

https://tradetheday.com/wp-content/uploads/etoro-sign-up-pending.png (eToro Pending Verification)

Now that you have completed all steps and signed up with eToro why not join our community of traders over on Discord where trading ideas and signals are published daily. We recommend you read our extensive guide on eToro verification how to find right person (traders) to copy on

Finally if you are Muslim, it's recommended you deposit $1,000 and create an Islamic account so that you can have an interest free trading experience on eToro that is in line with your Faith. You can contact support for this after full verification of the account and deposit of $1,000.

Please let us know if you have any questions, simply click the chat window and chat right away with one of our many trading specialists.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

*Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.*

Question 7

My MT4 is displaying an “Invalid Account” error

Accepted Answer

With MetaTrader 4, try logging into your account again. There is the possibility that you entered incorrect info on your first attempt- either your account number or your password. If you have any issues with your password, please go back to check the email that was sent to you on your registration.

MetaTrader 4 can be a little tricky when comes to logging in and out. If you've copy pasted your account number (user name) and/or password, make sure you've not copied a "space" before either of them.

This can cause an incorrect password error, a tip is to copy paste your account number (username) and password and paste them into a plain notepad .txt document and then copy them from that into MT4, this way it strips out any special characters that may be copied over from an email styling format or indeed you'll be able to see if there's a space included before or after the account number and password.

Obviously be sure you do not save your account number and password in a plain text document after you've checked your logins.

Question 8

Why do brokers use a VFSC license?

Accepted Answer

https://tradetheday.com/wp-content/uploads/vfsc-logo.png (Vanuatu Financial Services Commission Logo)

The VFSC is the "Vanuatu Financial Services Commission", which is the financial regulatory authority of Vanuatu (VFSC website).

Why use a license from Vanuatu?

Brokers that have clients using leverage of 500:1 might look to license within other jurisdictions enabling them to continue offering this leverage to clients, to that ratio.

Within Vanuatu there is no leverage restriction on brokers financial products. Therefore brokers wishing to offer clients a higher leverage product can on-board them via this license.

Be aware, if you are on-boarded via a license outside of your country of residence, the protection you might receive for the money in you brokerage account differs to the regulation under the VFSC license.

For some traders, this is a red flag, for other traders, that wish to access higher leverage, it's a known but accepted risk.

The three main reasons a broker might use a VFSC license.

1. Speed of getting a license.

The speed on setting up a license in Vanuatu is competitive verus other jurisdictions. Providing all documents and required information is submitted on time, a license can be granted with just 3 months. Keep in mind this is much quicker than other regions that have different application processes.

For example, approval for a Cyprus (CySec) forex license can easily take over 12 months.

Often forex brokers looking to obtain a fast license, consider VFSC. Consider this when selecting a broker, are they going to be around for long, is this broker trust worthy. Often a brokerage will have several licenses in addition to one with the VFSC.

2. A VFSC license is cost effective.

A Forex Broker license in Vanuatu is cost effective, especially when compared to other "offshore regions" like Belize or Seychelles.

If a business is launching a forex brokerage it might make sense financially to begin with a license in Vanuatu saving costs initially and then build a brand. Again, watch out for brokers that wish to establish a brand, not setup and close.

3. A Vanuatu dealers in securities license offers flexibility

Establishing a forex broker license in Vanuatu offers flexibility compared to other regions. Unlike a licenses in other areas with leverage capped at certain levels, there are no leverage restrictions for forex brokers licensed in Vanuatu.

In addition, VFSC licensed forex brokers are able to operate as either a market maker or provide straight through processing (STP). The VFSC also permits PAMM/MAM accounts with the inclusion of money management services.

Question 9

What is the maximum leverage Eightcap offers?

Accepted Answer

Leverage at Eightcap starts at 100:1 and goes up to a maximum of 500:1.

Eightcap started as an Australian broker licensed with ASIC. As with many ASIC licensed brokers, 500:1 was the most leverage this licensing authority allowed, until 29th March 2021.

Eightcap also has a VFSC license, which has no leverage restriction.

The leverage offered by Eightcap is generous. Leveraged trading should be used with caution. Leverage can seriously increase risk exposure, as well as potential profits.

Question 10

How to turn off the beeping sound in Discord

Accepted Answer

The very annoying "beeping" sound on Discord is a messaging sound. It can drive you crazy as it's relentless. Here's how to quickly and easily turn it off, in two steps.

The first is to limit direct messages (DM) beeping at you:

Click on the little gear icon in user settings (lower left of the screen) ⚙️
Click on Notifications on the left menu
Scroll down and turn "Message" off

Next is to limit server notifications, this can be unique for each Discord server you're a member of.

For example, some Discord servers use the @everyone notification far more than others. When you receive an "@everyone" notification in a server, it will alert you like a DM alert. This can happen from various channels on the Discord server. If you're a member of multiple servers this can get a little crazy.

If this is the case, you need to edit the notifications, or mute the notifications for each Discord server.

To mute a specific Discord server that is overusing the "@everyone" notice, or simply edit the settings to your liking, set the following areas up for each server you are a member of:

Right click on the Discord server icon and click on "Notification Settings", from here you can decide how you're notified:

Only receive mentions when someone uses @mention
Do not get any messages
Stop anyone sending you @mention (including admins etc.)
All roles (admins) cannot send you @mention

Done. Enjoy a quieter Discord experience.

Please note, when joining a new server, you will need to set your own preferences for the new server.

Why not join in with trading talk, get news and signals on our Trade the Day Discord server.