Can you use the MetaTrader (MT4/MT5) for Olymp Trade?


Binary options traders are always advised to sign up with trading brokers with a good history. Trading brokers who have scammed their clients in the past must not be an ideal choice. For this reason, many traders have registered themselves with Olymp Trade.

Moneta Markets MetaTrader 4

In the trading world, Olymp Trade has gained a trustworthy reputation by offering educational materials, trading tools, and helpful strategies. This trading broker does not believe in scamming. Instead, it helps the clients so they can gain huge profitability. It also offers access to demo accounts so new traders can get an idea of real trading. 

But the main question is, does Olymp Trade work on MetaTrader 4? Traders who have never used MetaTrader 4 might be skeptical about it. That’s why we have tried to answer some important MT4-related questions through this post. 

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What is the MetaTrader? 

Before we continue further, let’s understand what exactly MetaTrader is? Well, it’s a popular trading platform available for retail traders. It can be seen as a world standard for foreign exchange trading

Many binary options brokers have joined the MT4 group, including Olymp Trade, which has made it easily available for users. 

MT5 demo
MT5 demo

Traders from all around the world have been using MetaTrader 4 since 2005 as it provides all the helpful components for trading. Here’s why trader like MT4:

  • MT4 has updated and improved charting modules that easily help traders track the market. It also allows traders to easily observe multiple charts at once to open trades from the chart. 
  • It is a great order-handling system. The opening position in MT4 is very intuitive. Traders can also use market orders, limit orders, and stop orders. 
  • It has built-in technical analysis tools, which offer the possibility to use numerous built-in technical analysis indicators. What’s better? Well, the base of drawing tools is very developed. One can find the usual horizontal and trend lines, but it also includes complex tools. While MT4 does not have a built-in tool, it surely offers plugins and indicators that offer a smooth trading experience
  • Furthermore, MT4 allows traders to use the MQL4 language for creating additional trading tools. Programmers can create better indicators by using this language. Also, one can create automatic strategies that can trade for you using MQL. 
  • Lastly, the desktop version of the MT4 application is available for macOS and Windows. In addition, its web platform, Android and iOS, is also available. 
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Can I use MetaTrader 4 to trade on Olymp Trade?

As an Olymp Trade client, you can use MetaTrader 4 without hassle. But for that, you need to get yourself registered and log in to link accounts.

mt4 website

Once you set up and register for MT4, you can enjoy a smooth trading experience. 

Steps to register and setup for MetaTrader 4 for Olymp Trade

If you are willing to use MT4 for Olymp Trade, here’s how you can set it up. Make sure you follow the steps thoroughly, so you encounter no issues in between. 

  • Start the process by visiting the Olymp Trade MetaTrader 4 website.
  • Depending on your goal, choose an account type between live or demo.
  • Then you are required to choose between ECN or a Standard account. If you are new to the trading world, you must choose Standard. 
  • To the SWAP free option, you need to press the radio button. Using default settings as a newbie trader will be helpful. 
  • The next step requires you to create a strong password for MetaTrader 4 and click on the open account button. 
  • As soon as you click on the button, a screen will be opened containing your account information. If you had selected a live account earlier, you need to select the “OlympTrade-Live” option. Otherwise, you can choose “OlympTrade-Demo.”
  • At last, you can make more settings by specifying leverage amount, profile, and more. You can then enter your created password to start trading.

Is MT 4 and Olymp Trade platform account number different?

Traders can use the same email and password to log in to MetaTrader 4 and Olymp Trade. If someone is already registered with the Olymp Trade platform, they are not required to register with MT4.

password

Traders need a special number to assess the MetaTrader 4 terminal. This number is created in the user account of MT4. Traders must avoid using the account number that they see on Olymp Trade’s ID. 

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(Risk warning: You capital can be at risk)

What kind of accounts does MetaTrader 4 offer?

When traders create a MetaTrader 4 id, they can choose between two available account types, i.e., line and demo modes- ECN and Standard. 

If traders use an ECN account, they can trade with a fixed commission and zero spread. On the other hand, if a trader chooses a Standard account, they need to pay the spread. However, they are not required to pay a commission for opening a trade. 

Traders usually create a demo account to understand how MT4 works. You can also use SWAP-free options to experiment with your trading. 

Great deal for MT4 account at Olymp Trade 

As MT4 has become popular among traders, Olymp Trade has offered a very good deal. Now, traders can access 7 assets when they open an account. In addition, Olymp Trade also gives access to 500:1 leverage. 

olymp trade leverage settings

Traders need to remember that for ECN accounts, the spread is available at 0 pips. But for a Standard account, it is available at 1.1 pips. 

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(Risk warning: You capital can be at risk)

MT4 vs. MT5

Along with MetaTrader 4, MetaTrader 5 has also entered the trading market, which has created confusion among traders. It’s normal to think that MT5 is superior to MT4, but is it really true? It depends. 

mt4 mt5 download

MT4 quickly became popular after it was released in 2005. Traders readily accepted it because of its adaptability and ease of use. On the other hand, MT5 was released in 2010. Thinking that MT5 is a direct evolution of MT4 is not true. 

MT5 can be seen as an alternative to MT4 as it has got better features and more options. But it’s also important to remember that these features make MT5 more suitable for trading in markets beyond Forex

Overall, the main difference between these two is that MT5 has better features, which makes it ideal for markets beyond Forex. But MT4 remains a dominant trading platform for CFDs and Forex. 

Conclusion 

As Olymp Trade is growing, it has allowed traders to use MT4 through the platform. The idea behind doing so is to allow high-quality financial derivatives trading. MT4 opens new trading opportunities, which traders can use to earn better profitability. 

➥ Sign up with Olymp Trade for free now!

(Risk warning: You capital can be at risk)

About the author

Marc Van Sittert
Marc Van Sittert is an experienced Binary Options Trader and coach who is originally from South Africa. He started his career in 2014 by trading old-school Binary Options online. His main focus is on short-term contracts with 60-second trades.

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