SOFTWARE MetaTrader 4

MetaTrader 4

MetaTrader 4 is the most popular front-end application in the industry, and MB Trading FX has attached our Electronic Xrossing Network (EXN) execution to the platform. We’ve taken the user-friendly front-end trading interface and added the execution that the market has been looking for. We’ve turned off the deal-desk functionality of the platform and made the executions as true as our systems can handle. And now we offer two trading plans to suit your style. What does MetaTrader 4 through MB Trading FX offer?

  • Direct EXN (Electronic Xrossing Network) connections and execution
  • Tight EXN spreads and quotes
  • A true non-deal desk environment
  • Free EXN trading or EXN with Pay for Limits
  • NO proximity restrictions when placing entry or exit orders
  • Scalping available

While other brokers have offered MetaTrader 4 for years, MB Trading FX wouldn’t offer the system until we could eliminate the deal desk functionality of the back-office systems of MetaTrader. With this solution, our customers can experience MetaTrader 4 as it was supposed to be, without desk interventions, fixed-slippages, and stop and limit proximity limitations. We open the door to any available execution using MetaTrader 4, and we give no priority to opening or closing positions.

Generic MetaTrader 4 vs. MetaTrader 4 with MBT EXN/STP Execution

MetaTrader 4 is Third Party software written and maintained by a separate company. The software was not designed for EXN/STP execution, which MB Trading provides. MB Trading has no control over the MetaTrader client software, server updates, or API updates. In order to integrate MetaTrader 4 with MB Trading's EXN/STP execution, some behavior related to deal desks is not available, and this has some impact on the MetaTrader 4 Client. The following list describes certain functions of MetaTrader (referred to as Generic MetaTrader 4) and how they behave differently when MetaTrader 4 is connected to MB Trading for execution. Click here to download a PDF of this page.

We highly recommend that you log into MBT Desktop or MBT Desktop Pro at the same time that you are logged into MetaTrader 4. Your account is actually handled at our account level, which is viewed directly in Desktop or Desktop Pro. MetaTrader 4 is simply an interface that we enable for MetaTrader 4 accounts to allow you to trade. You cannot trade from the Desktop or Desktop Pro software with your MetaTrader 4 account, but you will find that the Orderbook, Messages, and Account Balance windows are more accurate and in real-time.

When in doubt, your MBT Desktop or MBT Desktop Pro software is correct. You can also find accurate FIFO statements by logging into the Client Secure Area of our website. Just be aware that most cases where the Desktop and MetaTrader 4 software diverge, those differences are usually corrected with an adjustment in MetaTrader 4 at 5 pm EST rollover.

While our commissions are displayed in real-time in the MBT Desktop and Desktop Pro software, the MetaTrader 4 software was not designed to handle commissions in a true EXN environment. While there is a commission column, it was added after the fact and designed for a single entry. The reality of EXN trading is that each transaction (entry and exit) result in a transaction fee or credit. Due to limitations of the MetaTrader 4 server, CLOSING commissions, whether credit or debit, are added as a Deposit or Withdrawal to your account at the time of the close of the trade via a separate line item in your Trade tab with a comment describing the Deal Number that the deposit or withdrawal came from.

We currently employ the following behavior for Stop Loss (S/L) and Take Profit (T/P) items. If you have only a S/L, the bridge monitors the positions and waits for the price to hit, then sends a market order to our router. If you have only a T/P, the bridge sends a Limit order, which will display to the market in the quote, to the EXN, which awaits execution. You would be paid for this execution under our Get Paid for Limit Orders system. If you have both a S/L and a T/P, the system sends the T/P to the EXN as a Limit order, which will display to the market in the quote. If that order is filled, the trade is closed. If the S/L price hits instead, the system cancels the Limit order for the T/P and then sends a market order to close.

Please ensure that your EA is populating in your MBT Desktop window and is available to initialize. If it is not, check your ‘C’ > ‘Program Files’ > ‘MBT MetaTrader 4’ > ‘experts’ folder to ensure it has been placed in the correct location.

  • When you input the lots, ensure that it matches our lot size in congruence with your account balance. For example, 1 lot on MetaTrader 4 through MB Trading is equal to 1 mini lot ($10,000 in buying power).
  • Ensure that you have properly setup the EA as detailed in the MetaTrader help guide.
  • Ensure that ‘live trading’ is enabled in the experts settings.
  • Ensure that you are using an .ex4 file.
  • Ensure that you are launching the EA by doing the following:
  • From the toolbar of the MetaTrader you will find Expert Advisors check button. Check button means when you click it enables the expert advisors and goes to pressed figure and when you click it again it disables the expert advisor and goes to un-pressed figure.

The following individual items also explain some of the differences between “Generic MetaTrader 4” (with deal desk functionality in place) and MetaTrader 4 connected to MB Trading’s STP/EXN execution with all deal desk functionality disabled.

  • Generic MetaTrader 4 allows you to add a stop loss and take profit to your market order via “Instant Execution,” whereas if you place a market order in MetaTrader 4 with MB Trading, those columns cannot be changed because you must use the “Market Execution” order type.
  • Generic MetaTrader 4 allows you to rescan servers by clicking on the Connection Status in the lower right hand corner of the screen, whereas MetaTrader 4 through MB Trading does not.
  • Generic MetaTrader 4 differs on the close order box. You can check “Enable Maximum deviation from quoted price.” This option also comes up when you right-click to modify your order and then change it to market execution:

    The MetaTrader 4 order closing box does not have this:

  • When closing or modifying an existing order in Generic MetaTrader 4, at the bottom it says “Open price you set must differ from market price by at least x pips.” Also when you place a “Modify Order Type” the bottom reads “Stop Loss or Take Profit you set must differ from market price by at least x pips”:

  • MetaTrader 4 connected to MB Trading shows “0 pips at bottom,” reflecting that you are connected to an EXN:

  • Also when you place a “Modify Order Type” with Generic MetaTrader 4, the bottom reads “ Stop Loss or Take Profit you set must differ from market price by at least 3 pips”:

  • MetaTrader 4 connected to MB Trading shows “0 pips at bottom again”:

  • Generic MetaTrader 4 quotes to a pip (four decimal places on most pairs, two on JPY-based pairs), as seen in this screenshot:

  • MetaTrader 4 quotes to a tenth of a pip (five decimal places on most pairs, three on JPY-based pairs), as seen in this screenshot:

  • In Generic MetaTrader, none of your orders change the quote. In MetaTrader 4 connected to MB Trading, any limit order (to get into or out of a trade) reflects in the quote. The target (limit) side of a TTO, however, does NOT reflect in the quote because a TTO is waiting for either price to hit. Example below shows the Order window while setting up a Buy Limit between the spread on the GBPJPY on MetaTrader 4 connected to MB Trading:

  • This next window shows the quote of GBPJPY after the order has been entered, reflecting the bid at 188.25:

  • There are some adjustments that need to be made to MetaTrader Query Language scripts (Expert Advisors) due to differences between Generic MetaTrader 4 and MetaTrader 4 connected to MB Trading. These include, but are not limited to:
    1. Scripts that use Instant Executions to place market orders with take profit and/or stop losses attached will not work. Instead, a market execution must be placed and then a take profit and/or stop loss added to the position.
    2. Hard coding of +/- calculation of pips for profits may need to be adjusted to reflect the fifth decimal place of our EXN.
  • Generic MetaTrader 4 platforms typically quote forex pairs in pips, which means 4 decimal places on most pairs and 2 on JPY-based pairs. MetaTrader 4 connected to MB Trading quotes pairs to the tenth of a pip, which adds a decimal place. Trailing Stops in MetaTrader 4 are measured in “points,” not pips. Thus a 15 point trailing stop on Generic MetaTrader 4 must be entered as a 150 point trailing stop on MetaTrader 4 connected to MB Trading to get the same 15 pip trailing stop results.
  • Metaquotes, the provider of MetaTrader, does regular updates to the platform in the form of LiveUpdates. MB Trading usually will have advance notice of live updates from MetaQuotes to test thoroughly in our demo environment before automatically being released to customers. Once we have tested the latest update, we will make the LiveUpdate available to our customers in their live accounts. We strongly advise against getting an update for the MetaTrader 4 Client from another broker than has not been tested on our end.
Download MetaTrader 4

You can download MB Trading FX’s EXN version of Metatrader 4 by clicking on the link below. You can also sign up for a Demo account by following the instructions here.


MetaTrader 4 Client
Version 4.0 Build 610 - 456KB
Updated: 2/14/2014


For Live accounts, select the server "MBTrading-Live" or type manually into the server field (you won't have to retype this after a successful first connection).

For Demo accounts, select the server "MBTrading-Demo" or type manually into the server field.

If you have any issues logging in, try calling our support team and having them reset your password, just to be sure. This can only be done over the phone for security purposes.

You may also access the MetaTrader 4 Mobile app (download from the App Store or Google Play) from your Live or Demo account. Note that this is different from the MB Trading mobile app, which cannot be accessed for this account.

PLEASE NOTE: Symbols for FREE EXN quotes end with a dot or period. That means that instead of "EURUSD" you will use "EURUSD." with the period immediately after. These will be the symbols available to you in your Watch List, which you can drag to a chart. If you do not see all of the symbols in the Watch List, right click in the Watch List and hit Show All. This will make them available. If you manually type a symbol into a chart, you will need to include the dot or period. Pay for Limit accounts use regular symbols without the dot or period.

MB Trading’s mobile MetaTrader 4 trading platform offers you the same powerful functionality as our desktop version. Keep abreast of the market's latest developments, and analyze and perform trading operations at any time. Our MetaTrader 4 mobile platform is your trading assistant, allowing you to stay mobile, check account information, put on positions and keep up on latest market trends. Search for server "MBTrading-Live" for Live accounts or "MBTrading-Demo" for Demo accounts.



The MetaTrader 4 for iPhone mobile platform will impress traders of all skill levels with its broad capabilities. The feature-rich mobile environment allows fully functional Forex trading, is an efficient arsenal of the most critical technical analysis tools (30 technical indicators) and is easy to use in everyday activities. You can access financial markets from anywhere in the world with ease at any time and for free. Such possibilities are now available with MetaTrader 4 for iPhone. System requirements: Compatible with iPhone, iPod touch and iPad. Requires iOS 4.0 or later.

Download MetaTrader 4 for iPhone



MetaTrader 4 Forex trading technologies can now be downloaded on the devices powered by the popular Android OS. Complete sets of trade orders, view trading history, and create interactive charts on the widest selection of supported mobile devices— all available on MetaTrader 4 for Android. Integrated charts will help you to determine the current dynamics of symbol quotes, trading history will show you all your previous deals, while the powerful trading system will allow you to perform new ones. System requirements: smartphone or tablet PC powered by Android OS 2.1 and higher.

Download MetaTrader 4 for Android


Windows Mobile

This mobile MT4 terminal is designed for use with Pocket PCs (PDA) with Windows Mobile OS. MetaTrader 4 Mobile is an analogue to the general online trading terminal of MetaTrader 4. Moreover, the mobile terminal offers you the opportunity for technical analysis and graphical visualization of financial instruments (including off-line mode). Completion of the trade transactions is treated with strict confidentiality and is absolutely secure. If required, with MetaTrader 4 Mobile, you can easily retrieve the history of completed trade transactions. System requirements: Pocket PC Windows Pocket PC 2002 OS and higher.

Download MetaTrader 4 for Windows Mobile


Smartphone Edition SE

MetaTrader 4 Mobile Smartphone Edition is the mobile terminal for smartphones under MS Windows Mobile. Built-in symbol charts and technical indicators, as well as financial news, will help you make a well thought-out decision about whether to open or close a position. Trading via this terminal is fully confidential and absolutely safe. System requirements: Smartphone, Windows Mobile 2003 for Smartphones and higher.

Download MetaTrader 4 for Smartphone Edition




MB Trading, IB member FINRA, SIPC; MB Trading Futures, Inc. RFED/IB and member NFA. Trading in futures, options and Forex is speculative in nature and not appropriate for all investors. Investors should only use risk capital when trading futures, options and Forex because there is always the risk of substantial loss. MBTFS and MBTFX are sometimes referred to collectively herein as "MB Trading."

1MB Trading FX offers two Forex pricing models. Both models employ our RFED to client facing execution system with slightly different pricing and markup models.  For purpose of clarity the two pricing models (Plan 1 and Plan 2) both operate on the same technology.  The underlying technology is named The MB Trading Electronic Xrossing Network, abbreviated as EXN for the remainder of this disclaimer.  The main differentiator between the models is twofold.

A.    Difference in amount of markup or markdown of liquidity partner (banks) quotes when displayed to clients.
B.    Commission Structure charged to client

Plan 1 or “Pay for Limit” plan employs the EXN technology in a commission model. This model charges a client 2.50 in their base currency per 100k of executed currency for market orders and pays a client .50 of base currency for posted, executed limit orders. In the Pay for Limits model, the term "Payment for Limit Order" refers to a non-market order which is not immediately executable and rests on the internal limit order book for some period of time, thus adding liquidity when another order of equal or greater value fills with the resting order.

Free Commission Plan employs the EXN technology in a markup only plan, which means that MB Trading receives a markup embedded in the spread as compensation. This plan does not add an additional commission, does not pay the client a rebate for posted liquidity as Plan 1 does yet does still offer the benefit of allowing the client to post quotes which is displayed to all other clients on Plan 2.

Additional information to note is that “Actual Total Paid to Clients” counter is kept on the company website which displays The Actual Total Paid to Clients currency number which is updated every five minutes and stops counting during the weekend when the market is closed. The number calculates from the launch of Pay for Limits, which was January 31, 2011.

Due to higher cost of business in China, “Get paid for limit orders” is not available for Chinese residents. All Chinese residents have a fee of 2.50 for all order types. Accounts with special commission rates are excluded from Payment for Limit Orders. There is a minimum fee of $0.01 for all Forex and spot trading orders that take liquidity.

MB Trading earned a 4.5 out of 5 star rating in Barron’s 2011 Review of Online Brokers, tying for the top spot overall. The company earned a total of 33.8 points, one tenth of a point under the top score. MB Trading also scored in the top three for separate categories of Range of Offerings, Trade Experience, Trading Technology, Usability, and Customer Service and Education. MB Trading earned a 4.5 out of 5 star rating in Barron's 2010 Review of Online Brokers. The company ranked second overall and tied for first place in the categories of Trade Experience and Portfolio Analysis & Reporting. The company also won the category of Usability. The company also tied for first place in the separate categories of "Best for Frequent Traders" and "Best for Options Traders." This survey evaluated 27 Online Firms and does not include all Online Brokers.

*Real-time Forex Quotes are provided via the MBT Quote API. Quotes are available during platform hours from Sunday at 5 pm EST to Friday at 5 pm EST, except during the scheduled maintenance period from 4:58 pm to 5:06 pm EST. Extended maintenance periods are possible, and messages regarding maintenance are sent via the MBT Desktop, MBT Desktop Pro, and MBT Web 2.0 trading platforms. In addition, MBT begins MetaTrader 4 maintenance at 4:57 pm EST, one minute earlier.

MB Trading provides real-time Demo data in all of our software platforms in the Forex markets at no charge. All Demo data for Stocks, Futures, and Options are on a 10-minute delayed feed. In order to receive real-time data, users must open a live account.

MB Trading provides Google Translation of our website for educational or informational purposes for its international customers. The graphics, applications and some portions of the website are not translated. Customers must bear the sole responsibility of evaluating their regional translation before making any decisions based on such information outside of what the English version of the site represents.