EASIEST WAY TO INSTALL MULTIPLE MT4s ON THE SAME COMPUTER OR VPSInstalling and running multiple MT4 client terminal instances on the same machine is easier than you think. These days every MT4 user should learn how to do it because sometimes you have to do it for your own.
This way you can open two, three or even more MT4 platforms on the same computer, login into different accounts and trade all of them at once without any hassle. You can do this without the need to login-logout from the single MT4 platform which can be called copy trades. You will have all your accounts live at the same time, meaning you can trade your real and demo accounts simultaneously.
Additionally, this allows you to
open identical trades on all MT4 accounts at the same time.
When you have multiple MT4 platforms running on the same computer, then you will be able to initiate and manage positions on numerous MT4 accounts even if it’s on the same broker.
WHY FOREX TRADERS NEED MULTIPLE METATRADER 4 PLATFORMS ON THE SAME PC?Forex traders need multiple MT4s on the same computer mainly for these two reasons:
The first reason is to login into separate MT4 accounts at once. You can log in only into one MT4 account from the same broker, but if you have more MT4 terminals installed, then you can login into other accounts at the same time.
The second reason is to copy Forex trades between separate MT4 accounts. Imagine that when you open a BUY position on EURUSD
@1.22410, the same position appears on other MT4 accounts within 1 second or faster. It is called trade copying and is quite popular among Forex traders.
The third reason is to backtest multiple Expert Advisors at the same time. Each MT4 terminal can run only single EA in the Strategy Tester. But you can run many Strategy Testers if you have many MT4 terminals.
INSTALLING MULTIPLE METATRADER CLIENT TERMINALSInstalling several MT4 terminals on the same computer is very easy. You need to repeat the same procedure as if you would install a single MT4 terminal, except that you need to choose a different location for each installation. So this means you can install multiple MT4 platforms even from the same broker or different brokers.
If by default the MT4 installer sets an installation folder to something like
C:\Program Files\Metatrader 4\ then it’s totally fine for the first installation. However, when you install the 2nd, 3rd or any other terminals, you need to change this location to a unique folder name that does not exist yet. We would suggest naming folders like this:
C:\Program Files\Metatrader 4-1\C:\Program Files\Metatrader 4-2\C:\Program Files\Metatrader 4-3\Notice the numbering at the end of the folder name? It will help you identify terminals and keep all installation files in different folders. You can give folders whatever name you want, but make sure that each name is unique.
When you run MT4 installation, it will give you an option to change installation destination folder. Look for the “
Settings” button like in the picture below. It will become accessible once you select the “
Yes, I agree …” box.
Be attentive; this is the step many people miss. When MT4 installer loads, you will get the SETTINGS button on the
very first step next to the NEXT and CANCEL buttons. But it will be disabled by default and to make it available you need to check the “
Yes, I agree…” box.
See picture below.
When you click the “Settings” button, you’ll get to the next step where you are allowed to change the MT4 installation destination folder.
We usually add a number at the end of the “
Program group” as well. That way each installation will have its shortcut created in the programs list.
THE FASTER AND EASIER WAY TO INSTALL MULTIPLE MT4 TERMINALSAfter you have at least one MT4 terminal installed, you can duplicate folders using the copy/paste command (you can even use the CTRL+C and CTRL+V commands on your keyboard).
Open your
C:\Program Files\ folder (or wherever you have installed an MT4 platform) and