How to Use MetaTrader Trading Platform in United Kingdom
There are many popular trading platforms in the world, MetaTrader is one of them. It is a popular platform between the futures and the forex day traders. For those who are in UK, you can learn how to use MetaTrader.
The Reason of Using MetaTrader
The first reason is because it is a simple trading platform. The designer make it to enable the traders to make customized platform and the technical indicators for fast or slow paced trading and fast execution.
The trading platform enables the traders to make strategies so when the trade starts, the target orders and stop loss can be sent out immediately. This feature will also prevent financial catastrophe, especially when the data provider is down, internet connection is lost or the broker is disconnected. You can make it simple or complex based on your need. For instance, placing a tailing stop loss, one target or multiple targets.
Try to Use a Demo or Receive a Package of Information
First, you need to try a demo account out. Click Trade FX or Trade Futures on the website; according to your preference. Scroll the screen down and complete the information of demo account. To get a login information, you should use your email address and fill UK in the country information so the proper information package can be had.
It will guide you to the page to download MetaTrader and the guides. You may also need to download Connection Guide if required later. Besides, the credentials of login and downloading platform will also be sent to your email address if you don't know about the information yet.
Find to Know More about MetaTrader
There are many tools and functions offered by MetaTrader. By clicking the video library, you can find kinds of the platform's features tutorials. Market Replay connection is one of the platform's best features. It enables you to download the past sessions of trading and trade like you were in real time trading. You can learn much from it and enables to combine multiple learning sessions in one day.
MetaTrader Account Setting Up
Besides the login credentials to the demo account for software trying out, you also can get setting up information if want it. The information can be gotten from the brokerage. Open the futures trading account by having a minimum deposit; USD 1,000. Whilst for the forex account is USD 2,000.
The day trading margins for the popular day trading futures are $500. The trading margins of Mini Dax and FTSE are $1,000. The commission that can be gotten starts from $0.53 for every contract; whether the platform is purchased, leased or the free version.
For those who trade forex, the account can be opened through the emails gotten when you try the demo account. The commission starts from 0.03 pounds/ 1000 in the traded currency (6 pounds round trip or 3 pounds/ 100,000). If you make $50 million every month, then you can get the volume discounts.
MetaTrader costs $299 for 4 monthly payments or $999 for the lifetime license. The leasing cost is $600 annually, $330 per six months, or $180 per three months. Meanwhile, the free MetaTrader is also available, yet it is with a little higher commissions.
MetaTrader Supported UK Brokers
Another trading platform that also offers MetaTrader is Interactive Brokers UK. You can use MetaTrader if you have this broker account. However, it has a downside. The MetaTrader will off the platform of the trader workstation so that it causes communication problems or delays among the platforms. Besides, not every Trader Workstation version are well-matched with MetaTrader versions.
Conclusion
You have some options when you are going to trade with the platform of MetaTrader in United Kingdom. Besides, MetaTrader also can work with Interactive Brokers UK that needs a couple trading platforms linking, but it sometimes causes issues. You can try the demo account out before you decide which platforms to choose for trading. So you can learn each of the platforms and understand which one best for you for successful trading.
