MT4 Basics (Fast)
Learn the essentials in minutes — so you can place confident trades without the fluff.
Quick Tour
- Quotes: live prices for symbols (tap one to trade).
- Charts: price chart. Pinch to zoom, tap screen to show tools.
- Trade: your open positions & balance.
- History: closed trades and P/L.
Tip: Long‑press a symbol → Details for contract info.

MT4 Screenshot
Symbols (Forex & Gold)
You’ll trade majors & JPY pairs, plus gold:
Forex
EURUSD
Forex
GBPJPY
Forex
USDJPY
Metals
XAUUSD (Gold)
- In Quotes, tap the pair → Trade or Chart.
- Missing a symbol? Tap + and add it from the list.
What is the Spread?
The spread is the small difference between the Bid (sell) and Ask (buy) price. It’s the instant cost of entering a trade.
- Lower spread = cheaper to trade.
- Watch it during news; spreads can widen.

You can see the spread label under each currency pair. (Spread: 5 means 0.5 pips)
Lot Size & Pips (Fast Math)
- Lot size = trade volume. Common sizes: 0.01 (micro), 0.10 (mini), 1.00 (standard).
- Pip = smallest price step. For most pairs it’s the 4th decimal (EURUSD 1.1050 → 1.1051 = 1 pip). For JPY pairs it’s the 2nd decimal (USDJPY 157.20 → 157.21 = 1 pip).
- Ballpark pip value: 0.01 lot ≈ $0.10/pip · 0.10 lot ≈ $1/pip · 1.00 lot ≈ $10/pip on majors.
Gold (XAUUSD) moves in cents and dollars; pip value differs by broker — keep size small while learning.

FX Books lot size calculator
Place a Trade (Market Order)
- From Quotes: tap a pair → Trade.
- Set Volume (lot size), then optional SL & TP.
- Tap Buy or Sell. You’re in.
Pending orders: choose Type → Buy Limit/Sell Limit (below price) or Buy Stop/Sell Stop (above price).

MT4 Open Trade View
Risk & Good Habits
- Risk small: many pros risk 1–5% per trade while learning.
- Always set a Stop Loss before you tap Buy/Sell.
- Trade liquid sessions; spreads are usually tighter.
Trading involves risk. This is educational, not financial advice.
Ready to practice?
Open your FP Markets account, install MT4, and place a tiny test trade.