MetaTrader 4 Guide for Binary Options 2026 – Introduction and Installation
by John / Rob Griscenko
MetaTrader 4 Guide for Binary Options. This first part contains:
- Premise
- What is MT4
- Introduction and Installation
- First screens
Premise
This is a guide to using MetaTrader 4 as your go-to tool for trading with binary options brokers.
MetaTrader is essential for using the numerous indicators that the default charting platform provides, but above all for installing custom indicators that can be found online or that are provided with our strategies (see the Aston Martin strategy).
Its purpose is to be useful to those new to this platform, the most popular among traders. But even those already familiar with it will find useful topics.
MetaTrader is used by binary options traders as a reference chart, with dedicated indicators and tools to facilitate (but not predict!) price analysis.
Introduction to MT4: Why Metatrader?
Download the complete PDF to keep: it’s free.
Generally, systems dedicated to binary options assume that you know the basic notions of trading and technical tools, such as the MetaTrader platform.
Since our contacts with traders indicate that many need to better understand how to use this popular platform, here is this simple but comprehensive practical guide.
It is true that it is easy to find all the information you need online, but it is often presented in a haphazard manner and sometimes difficult to understand.
In any case, it will be assumed that some basic trading information has already been acquired:
Japanese candlesticks, bars, line chart, currency pair price, pips, enlarging a window, saving a file, etc.
This tutorial isn’t aimed at the Forex world: our traders are primarily interested in binary options. Therefore, some menu items that aren’t strictly relevant won’t be explained.
Compared to other MT4 guides, here you’ll find unique tips, such as ready-made settings for charts with a white or black background, and without the annoying grid.
Furthermore, the settings of the “Common” window are already prepared, different from the default ones, and adjusted to match the suggested charts.
We hope this tutorial is simple and easy to understand, with information about the MetaTrader platform that is often taken for granted in manuals, but is important to know.
What is MT4
The MetaTrader 4 platform, created in 2005, also known as MT4, is a very popular electronic trading platform among traders.
Since 2010, there has also been an MT5 version, but at the moment the most widely used remains MT4.
It’s available as a free download as a Windows program to install on your computer. macOS users also have a dedicated version.
Installation
The MetaTrader MT4 platform is offered free of charge by various brokers, such as ETX Capital, ThinkForex, FXDD, FXCC, AvaTrade, etc.
Note: As we are not affiliated with any of these platforms or brokers, this MT4 recommendation is unbiased.
If you don’t already have it installed, a simple Google search will provide you with a download link.
In any case, we indicate the ones we use, as they do not expire and offer stable operation:
ETX Capital and ThinkForex.
ETX Capital offers a free demo that never expires and a wide selection of assets, not limited to currency pairs. It also offers a section dedicated to binary options.
ThinkForex has the advantage of low or zero spreads, which is a significant benefit for proper charting.
Note: The EUR/USD pair may not initially appear on the ETX platform. If this is the case, open “Market Watch” and right-click to enable “Show All.”
How to use Metatrader: first-time launch window
Install the program and fill out the form with the required information. A screen similar to this will appear.
The arrows indicate the menu, the navigator, and the terminal (this window should be closed as we don’t need it). In fact, since our goal is to use MT4 for binary options, we’ll only examine the functions we need.
Let’s start by closing all open windows for now, leaving only the chart of a currency pair, for example EUR/USD, enlarging the window until it occupies all the available space.
It appears by default with the H4 time frame (one candle lasts 4 hours).
The connection (two-colored icon at the bottom right of the chart) with the server indicates that the chart is connected to the network and is updated correctly in real time.
