MetaTrader is a widely popular platform among traders, and for a good reason. It is a reliable and feature-packed platform that is available on multiple devices. One of the most convenient ways to use MetaTrader for the iphone. This guide will take you through everything you need to know to start trading on your phone.
The first step to trading on MetaTrader for the iPhone is downloading the app. You can find the app on your phone’s app store, whether the Apple App Store or the Google Play Store. Once you have downloaded the app, you must log in using your account details. You can log in to the app and start trading.
Once you have logged in, you will see the app’s main interface. You will see several tabs at the bottom of the screen, including “Quotes,” “Charts,” “Trade,” “History,” and “Settings.”
- The “Quotes” tab will show you a list of all the instruments you can trade on, like price charts and other details.
- The “Charts” tab will show you the price charts for the selected instrument to perform technical analysis and place trades.
- The “Trade” tab allows you to place trades, set your lot size, and choose your order type (e.g., market order, limit order, stop order).
- The “Settings” tab allows you to customise the app’s settings, such as your language preference, time zone, and chart type.
Once you have selected the instrument, you want to trade. You can also set your stop loss and take profit levels from the “Trade” tab.
When placing trades on your phone, remember to double-check your order details before submitting the order. Making mistakes when using a small screen is easy, so take your time.
You can perform technical analysis directly on the app, access various technical indicators and charting tools, select the instrument you want to analyse, and open the “Charts” tab. You can add technical indicators and draw trend lines, support and resistance levels, and other charting tools from there.
The app can monitor your open positions, set stop loss, take profit levels, and close positions.
Go to the “Trade” tab and select the open position you want to manage. You can set your stop loss, take profit levels from here, and close the position.
Here are some tips to help you get the most out of MetaTrader on your phone:
- Use a stylus: If you find tapping small buttons on your phone screen difficult, consider using a stylus that will give you more precision when placing trades.
- Use push notifications: Notifications alert you when important market events occur, such as when a price reaches a certain level or an order is executed.
- Use a reliable internet connection: Trading requires a reliable internet connection. If your internet connection is slow or unreliable, you may experience delays or connectivity issues that could impact your trades.
- Use a demo account: If you’re new to MetaTrader, consider using this account to practice trading on your phone without risking any real money.
- Keep your phone charged: Trading on your phone can drain your battery quickly. Keep your phone charged for trading for an extended period.
In conclusion, MetaTrader for iphone is a convenient and powerful tool for traders. It allows you to trade anywhere, anytime, and perform technical analysis. Following the tips in this guide, you can get the most out of MetaTrader on your phone and take your trading to the next level.