Table of Contents
Downloading MetaTrader for India
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the world's most popular forex trading platforms. For Indian traders using Exness or XM, these platforms are free to download and use.
MT4 Download: Visit your broker's website (Exness or XM), go to the Platforms section, and download MT4 for Windows, Mac, iOS, or Android. Installation takes under 2 minutes.
MT5 Download: Same process as MT4 but select MT5. MT5 is the newer platform with more features: more timeframes (21 vs 9), more order types, built-in economic calendar, and better backtesting engine. We recommend MT5 for new traders.
| Feature | MT4 | MT5 |
|---|---|---|
| Timeframes | 9 | 21 |
| Pending Orders | 4 types | 6 types |
| Indicators | 30 built-in | 38 built-in |
| Economic Calendar | No | Yes (built-in) |
| Netting/Hedging | Hedging only | Both |
| Programming | MQL4 | MQL5 (faster) |
| Popularity | Higher (legacy) | Growing (recommended) |
Connecting to Your Broker
Exness Setup: Open MT4/MT5 → File → Open an Account → Find 'Exness' server → Enter your account number and password from Exness Personal Area → Click Login.
XM Setup: Open MT4/MT5 → File → Open an Account → Find 'XM' server → Enter credentials from XM Members Area → Login.
If your broker is not listed in the server list, manually add the server address. Exness servers: mt4real1.exness.com (varies by account type). XM servers: available in your Members Area under 'Account Details'.
Customizing for Indian Forex Trading
After logging in, customize your workspace: add currency pairs (USDINR, EURUSD, GBPUSD, XAUUSD) to Market Watch by right-clicking and selecting 'Show All'. Arrange charts in a grid layout. Apply your preferred indicators. Set the chart timezone to GMT+5:30 for IST.
Essential indicators to add: Moving Averages (20 and 50 EMA), RSI(14), MACD, and Bollinger Bands. These cover most trading strategies and are already built into MT4/MT5.
Mobile Trading on MT4/MT5
The MT4/MT5 mobile apps are available on iOS and Android. They support full trading functionality: chart analysis, order placement, position management, and real-time notifications. Login with the same credentials as the desktop platform.
Mobile trading tip for India: ensure your device has a stable internet connection. 4G/5G connections in Indian cities are generally sufficient. Set up push notifications for price alerts and order executions so you never miss a trade signal.
Installing Custom Indicators
To install custom indicators: download the .mq4/.mq5 or .ex4/.ex5 file → Open MT4/MT5 → File → Open Data Folder → MQL4/MQL5 → Indicators → paste the file → restart the platform. The indicator appears in the Navigator panel under Indicators.
Popular free indicators for Indian traders: VWAP (not built into MT4/MT5), Pivot Points (Daily, Weekly), SuperTrend, and session time indicators (London, New York session highlighters). Download from mql5.com marketplace.
Activating Expert Advisors
To run an EA: Tools → Options → Expert Advisors → check 'Allow automated trading' → check 'Allow DLL imports' (if required by EA). Drag the EA from Navigator to your chart. Click the AutoTrading button to enable. The smiley face icon on the chart confirms the EA is active.
For best EA performance, use a VPS (Virtual Private Server) instead of your local computer. Exness provides free VPS to qualifying traders. This ensures your EA runs 24/5 without interruption from power outages or internet disconnections.
Frequently Asked Questions
Is MetaTrader free in India?
Yes. MT4 and MT5 are completely free to download and use. Your broker (Exness, XM) provides the platform. There are no subscription fees or hidden charges for using the platform itself.
Which is better: MT4 or MT5?
MT5 is technically superior with more timeframes, order types, and a better programming language. However, MT4 has a larger library of custom indicators and EAs due to its longer history. For new traders, we recommend MT5. For EA traders with existing MT4 EAs, stick with MT4.
Can I use MetaTrader for NSE trading?
MetaTrader does not directly support NSE/BSE trading. It is designed for forex, commodities, and CFD trading through international brokers. For NSE/BSE, use Zerodha Kite or Angel One. Many traders use both: Kite for Indian markets and MT5 for international forex.
How to deposit on MetaTrader from India?
Deposits are made through your broker's website, not directly on MetaTrader. Log into your Exness or XM account, go to Deposit, select UPI, and complete the payment. Funds appear in your MT4/MT5 account within minutes.