MetaTrader 4, or MT4 as commonly referred to, was developed by MetaQuotes in 2005. It is a trading platform that allows you to trade in many markets. And it is widely associated with Forex. However, you can use MT4 to trade cryptocurrency, commodities, and much more using CFDs.
MT4 is very popular amongst traders because its MQL4 interface customizes users’ preferences. The software can be programmed to close and open trades without further manual input from the trader as long as the correct parameters are set.
Windows systems and workflows are very dominant in the trading world. This article discusses how you can trade with your MAC easily using MT4.
The issue with trading MT4 on MAC
The problem MAC users face is that MT4 was designed to run on Windows OS. This means that you can’t simply install the software on your Apple device. You need to address the windows-MAC compatibility issue first.
Windows and Mac operate on very different frameworks. So, to use MT4 on your Mac, you have to find a way to bypass the Mac framework. A compatibility layer turns Windows-based code into code that can be used on Mac OS. Then again, not everything can be translated into another language. Therefore, some MetaTrader 4 functions won’t work if you don’t have Windows. Most Forex traders, on the other hand, think that the benefits outweigh the drawbacks for most people.
How to use MT4 on Mac?
Method 1: Using a Virtual Private Server (VPS)
VPS networks are handy tools that let you do more than simply trade on your Mac. This platform enables you to trade at any time, day or night. You can also trade from anywhere in the world and on any device. On the other hand, many new traders don’t know how to connect to a forex VPS on a Mac.
You need a Remote Desktop Program (RDP) to connect your laptop to virtual desktops, which helps connect it to VPS. Doing so is that you could operate a Windows-based desktop on your Mac. To Use an RDP on your Mac, you need to download an external RDP from the Mac Appstore.
After installing the RDP, you can connect to the VPS, and all the Mac limitations are bypassed. If you run MT4 on a Mac through a VPS, it almost feels like you’re on Windows. The VPS service lets you trade on your Mac and close out your trades.
Programs like Expert Advisors and Autochartist also make it easier to trade on the MT4 platform with automated tools. It comes with access to some of the most well-known experts and the Autochartist package.
Method 2: Wine
Wine is a software that enables you to use windows OS on other operating systems. This is very useful for running MT4 since it isn’t usable on Mac. However, Wine is not very stable software, so that it could lead to malfunctions in your trading software.
However, if you used PlayOnMac, a Wine-based software, most glitches were solved, and the MT4 trading application worked more smoothly. To install PlayOnMac, follow the instructions below:
- First, you need to download the PlayOnMac application. It is a DMG file.
- On your computer, look for the DMG file. When you find the file, click on it to open it. The PlayOnMac installer should show up here.
- PlayOnMac will need XQuartz to work correctly, as shown by the message that pops up. Select “XQuartz for me.” There will be several steps to finish the installation. Next, read and understand the license agreement. You’ll be asked for your username and password.
- You might be asked to restart because of this.
- The first time you connect your computer to the internet, PlayOnMac will ask you to install Windows fonts. The answer is sure.
- Ensure that all of the terms and conditions of the licensing agreement are followed to the letter. You can start using it as soon as the setup is done.
- To run the most up-to-date stable version of Wine, you need to use a stable version of Wine. Choose “Tools” and then “Manage Wine Versions in the menu bar.” You can change the Wine versions that PlayOnMac has installed on your Mac. Make sure your software is up to date before you start.
- After PlayOnMac and Wine have been set up, download and install MetaTrader from the MetaTrader 4 website or your Forex broker, you can then use it. Then, open the executable file and click on it to start it. With this, you can easily use the MT4 software on the Mac OS. PlayOnMac is built on Wine, which lets it act as a Windows computer so it can read the “.exe” file.
To use the MT4, you simply need to download the file and install it. A prompt would pop up suggesting creating a shortcut for easy access to the application on your computer. PlayOnMac simply establishes a hub for Windows software to work on your Mac.
Finding the installation folder might be challenging if you don’t know the system path. It should be similar to this:
Library\PlayOnMac\WinePrefix\Client_Terminal_\Drive C\Program Files\Client Terminal.
However, for a quick launch, if the PlayOnMac is launched, you can always click on the shortcut available on the “desktop.”
Conclusion
From its functionality to its assuring security, MT4 is one of the best trading instruments. Also, its integration with trading platforms for Mac and Windows-like trading makes it even easier to integrate with various trading aids.
However, the major challenge that the Mac faces regarding MT4 is that the creators did not make the software compatible with the MAC Operating System. The only way to use your Mac to trade on this platform is to cheat the system and turn your computer into a Windows. In other words, you need to force your Mac to run the Windows operating system.
There are many ways to make your Mac compatible with the MT4 software, and this article details how to run MT4 using VPS and the PlayOnMac tools. These are the most common and reliable ways to run MT4 and efficiently make your trades.
