18-09-2017 05:13 PM - edited 18-09-2017 05:18 PM
How the "Ask our expert" Community posts work
For this IG Community feature we wanted to offer all clients, new or old, the opportunity to ask any MT4 questions directly to Tim Plummer, our ‘Head of Integrated Trading Platforms’. Please leave any query you may have in the comments below and Tim will be able to reply directly.
This feature will be available on IG Community between the 18th – 29th September and throughout the trading week we’ll aim to get all questions answered within 24 hours. After the two week period has finished the thread will remain available, however regular mods and other Community members will reply to any questions. I have also included a few FAQ and information pointers at the bottom which may help if you are a newer client to IG. If you would like more information regarding MT4 and trading with IG on leverage, please visit the appropriate links. If you don't have an IG account, please visit IG.com
All trading involves risk. Losses can exceed deposits.
Trading Cryptocurrencies on MT4
MetaTrader4, also known as MT4, is a popular trading platform which is most commonly associated with Forex trading. You can use MT4 software to integrate with IG, and deal on leveraged FX as well as a few additional markets such as major indices, gold and silver, and also US and UK oil. We have recently added Cryptocurrencies such as Bitcoin and Ether to the MT4 software to further extend our offering.
Tim has a very in depth working knowledge of MT4 and was a driving force behind the addition of Bitcoin and Ether to the platform. In his own words:
“We are pleased to announce that we have launched Crytocurrencies on MT4.
This opens up the horizons for many traders that want to take advantage of this new and cutting edge market without the necessity of using exchange wallets. With MT4 you not only get to use a wealth of technical indicators to help build your strategy, but you can also build or buy algorithms to help execute your strategy. With IG’s MT4 you get access to institutional grade liquidity and pricing while being safe in the knowledge that you are with a broker you can trust that has been in the industry for over 40 years.
You can also use the IG MT4 apps to really get the most out of Meta Trader. You can use the alarm manager to help strengthen your risk management, the trade terminal to manage multiple positions as well as your account and the Mini Terminal for you to be able to manage trades quickly and efficiently.
As we said earlier, MT4 has the ability for you to automate your trades so that you can capitalise on market shocks and react to the major moves without being at your PC using Expert Advisors (also known as EA’s).
If you currently trade MT4 elsewhere we invite you to put us to the test.”
If you already have MT4 downloaded you will need to make sure you make these new markets visible. Simply right click in the Market Watch area and select ‘show all’. You will then see the BTC and ETH pairs. If you are having any issues, please let us know in the comments below.
An introduction to MT4
If you have a live IG account you can add MT4 via My IG, which will set up your new sub account and provide you a download link. If you already have an MT4 account with IG but would like to download the software again, you can do so here. Alternatively you can visit the Meta Trader 4 website directly, and then use the IG server information to connect to IG.
There are a couple of methods for trading; either you can download the software and deal in real time, or set up an automated trading system which you can code yourself or load from third party providers. Further to this there are a couple of other important functions of MT4:
- The software is highly customisable, and if you download via IG you’ll receive 18 plugins to help with your strategy. A range of apps can be used and downloaded to improve charting and functionality.
- The software is downloaded, rather than web browser based, which some clients prefer. The software will also be the same, irrespective of which broker you had before.
MT4 is only available for Windows and there are no plans to release this to Mac OS. There are both Apple iOS and Android applications which can be downloaded from the relevant online store. If you have a mobile app you’ll need to create an account via the desktop computer, receive your login details, and then switch over to the app where you can find IG’s server by typing in IG-Live.
19-09-2017 11:47 AM
HI, Thanks for the IG MT4 extra apps, I use a number of them and generally find them very helpful. It would be useful if there was a page on the web site explaining what they do and the different inputs that can be changed on them though.
I have problems with the IG Bar Changer, I am presuming this is a period converter similar to the one that comes with MT4 in the scrips section of indicators (which needs re-activating on every start up).
With the IG version when I try to convert a 1 min chart to a 3 min, I find and open the 3 min in the offline table and the 3 min chart opens ok and is live but when I then apply a template to the new chart the whole platform freezes.
I was assuming (but may well be wrong) that the 'Time frame for offline chart' should be 3 (min) and that the 'shift bar times' should be +2 min for the above example.
As well I wondered if my template needs to be stripped of indicators before applying?
Also, is it possible to convert higher timeframe charts on an hourly basis?
20-09-2017 10:43 AM
1) What about guaranteed stops (GS) on a standard MT4 account is it something possible?
2) Is it possible to use GS with a MT4 limited risk account?
i suppose with a limited risk account all the stops are GS?
3) I dont see bitcoin on demo mt4 so i cant test size and margin
whats is the minimum positionsize and margin requirement for bitcoin on a live mt4 account?
if bitcoin trade at 3950 then min tradesize would be 0.01 and value for the position 3950 USD?
what would the margin be for that?
a month ago
@Caseynotes - I just need to double check a couple of things to fully answer your question, however I will be able to reply to you later today. Thanks for the question!
@Kodiak - Thanks for your questions relating to MT4.
Currently you can have Guaranteed Stops on MT4, however this is only possible if you have one of our Limited Risk accounts which will force all positions to always have a guaranteed stop. Currently you can't toggle on/off the guaranteed stop option for a regular account on a position by position basis (although we are looking at this - we currently don't have a road map in place).
Cryptos are not currently on MT4 Demo although we are getting them added. They should be available by the end of the week, however due to some other priorities running simultaneously, it maybe the start of next.
Tier 1 margin requirements for bitcoin will be 12.5% which means that 0.01 lots on a CFD account when BTC is priced at 3950 will have a margin of $493.75 ($100 lot size x 0.01 number of lots x BTC price of 3950 x 12.5% margin)
a month ago
Thanks for your feedback @Caseynotes regarding the apps. The one that has been the most post popular is the Trade terminal as it has some tools that allow you to better manage your account from a risk perspective and even helps to automate trading discipline where you can have alarms based on performance.
As for the bar changer you can only look to use smaller values to make the larger timeframes, not the other way round, as the tool would not be able to determine the high and low fairly.
With regards to the issue you mention when it freezes are you still seeing prices update in the market watch or does the whole platform become unresponsive? If it is the latter as you suggest removing indicators first should help and then you can apply them after as that may reduce the impact of the indicator calculation.
I hope that helps and as always if you have any more feedback about the platform I would love to hear about it.
2 weeks ago
For both FX and Equities markets they are both essential leading market indicators.
I appreciate you are routinely adding more markets to your new MT4 platform but really need to add these two market staples.
Also awaiting more Hx (history) on Bitcoin.
The MT4 platform is excellent, but would be even better with these more diverse markets added for cross referencing.
Your good work is much appreciated.
2 weeks ago
Hi @Caseynotes thanks fro your suggestion. I'll speak to Tim on Monday and see what options are available / whats on the road map. I'll ask tim to drop you a message. cheers
2 weeks ago
Thanks for the feedback, and as always it is very much appreciated.
We do indeed have a number of markets in the pipeline to launch on MT4, with Dollar index one of them. We have not planned any US treasuries just yet, although we hope the Bund will be online soon. With that said I will be sure to pass on the point you have made to the trading desk. As for the Cryptocurrency history I will speak to the MT4 team about getting this back dated as well as it somewhat mutes the value of technical analysis if there is not enough history.
Thanks again for sharing ideas and if you, or anyone else for that matter, have any thoughts they would like to share on our MT4 offering then get involved!
a week ago - last edited a week ago
Hi, since your previous post I have been trialling the Trade Terminal and find it is a big improvement over the Mini Terminal. The mistake I made when I first looked at it was not realising I needed to sort my 'watch list' out first other wise it loads everything and grinds to a walk. Also undocking it so it can be moved to a more convenient position.
It would be even better if there was an Account History tab as on the basic MT4 Terminal section and the ability to close the trade on the chart as on the mini terminal would also be a benefit.
Nothing is without a few bugs and noticed this popped up this morning (not actually on my watch list at the moment), a bit worried about that spread though
Hi @JamesIG A nasty false spike occurred on the EURGBP chart yesterday at 17:15 and I can't get rid of it even by deleting chart and resetting. Causes knock-on problems such as ATR levels etc.