Pipzoooom!

Get Started

MT4 Basics (Fast)

Learn the essentials in minutes — so you can place confident trades without the fluff.

TourSymbolsSpreadLots & PipsPlace TradeRisk Tips

Quick Tour

  1. Quotes: live prices for symbols (tap one to trade).
  2. Charts: price chart. Pinch to zoom, tap screen to show tools.
  3. Trade: your open positions & balance.
  4. History: closed trades and P/L.

Tip: Long‑press a symbol → Details for contract info.

FP Markets sign-up screen (replace this image)

MT4 Screenshot

Symbols (Forex & Gold)

You’ll trade majors & JPY pairs, plus gold:

Forex

EURUSD

Forex

GBPJPY

Forex

USDJPY

Metals

XAUUSD (Gold)

  1. In Quotes, tap the pair → Trade or Chart.
  2. 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.

  1. Lower spread = cheaper to trade.
  2. Watch it during news; spreads can widen.
ExampleGBPJPY Quote: Bid 201.235 / Ask 201.245 → Spread = 1.0 pip.
FP Markets sign-up screen (replace this image)

You can see the spread label under each currency pair. (Spread: 5 means 0.5 pips)

Lot Size & Pips (Fast Math)

  1. Lot size = trade volume. Common sizes: 0.01 (micro), 0.10 (mini), 1.00 (standard).
  2. 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).
  3. 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.

FP Markets sign-up screen (replace this image)

FX Books lot size calculator

Place a Trade (Market Order)

  1. From Quotes: tap a pair → Trade.
  2. Set Volume (lot size), then optional SL & TP.
  3. Tap Buy or Sell. You’re in.

Pending orders: choose Type Buy Limit/Sell Limit (below price) or Buy Stop/Sell Stop (above price).

FP Markets sign-up screen (replace this image)

MT4 Open Trade View

Risk & Good Habits

  1. Risk small: many pros risk 1–5% per trade while learning.
  2. Always set a Stop Loss before you tap Buy/Sell.
  3. 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.

◀ Back: Getting StartedNext: Copying Trades

Pipzoom®