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MT4 spread betting


EdFuk

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Hi everyone,

 

I’m new to this world and have a number of questions

 

1) I have downloaded MT4 from the IG website and have a demo account. How do I specify in MT4 whether I am using CFD or spread betting account? Can this be done with a demo account?

 

2) I’m slightly confused about placing an order. What does the volume in the order form refer to? Is this different for a spread betting and a CFD account?

 

If anyone can point me some information regarding these two questions I’d appreciate that

 

Any help is appreciated

 

Many thanks,

 

Ed

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Hi @EdFuk,  with IG you can either have a spread bet mt4 account or a cfd mt4 account, the mt4 platform remains the same.

To link mt4 to your IG account (demo or live);

In mt4 click File > Open an Account and the IG feeds should be there, select either and follow the instructions.

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The original mt4 order ticket is old and volume refers to the volume number of lots. Recommend you also download the IG mt4 app pack and within in you will find a trade and mini terminal.

If you download the app pack with mt4 open it will load directly into mt4. You will find them in the Navigator tab.

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The mini (below) is a deal ticket which is attached to the chart while the trade terminal is for orders.

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The 1 lot equates to £1/point for spread bet. On mt4 there is an extra decimal for points so stop loss 150 is 15 points and the take profit 300 is 30 points and the spread (out of hours) is 20 meaning 2 points.

Hope this helps.

 

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