How to Use MetaTrader 4 with a No Deposit Bonus Account?

FXBONUS

Updated: 15 Oct, 2025 • 0 • min read

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Hello, traders and aspiring traders! As a financial analyst at fxbonus.insureroom.com, our mission is to provide you with clear, reliable, and empowering information in the world of forex trading. Today, we will dive into one of the most interesting combinations for beginners: how to use MetaTrader 4 with a No Deposit Bonus account.

You may have heard about no-deposit bonuses and wondered, "Is this really a golden opportunity?" Or perhaps you already have the bonus and are confused about how to get started. Don't worry, this article will guide you step-by-step, from understanding the concept to actually trading on MetaTrader 4 (MT4) using the free capital you've received. Remember, this is not a shortcut to instant wealth, but an extraordinary opportunity to learn and gain real trading experience without spending your own money. Let's start by understanding how to optimally use MetaTrader 4 with a No Deposit Bonus account!

How to Use MetaTrader 4 with a No Deposit Bonus Account

Understanding the Basic Concepts: No Deposit Bonus Account and MetaTrader 4

Before we go any further, let's align our understanding of these two key components that will form your foundation for using MetaTrader 4 with a No Deposit Bonus account:

What Is a No Deposit Bonus (NDB)?

A No Deposit Bonus, often called an NDB, is free trading capital given by a forex broker to new clients without requiring them to make an initial deposit. It's a fantastic way for you to experience real trading, test the broker's services, and even potentially earn withdrawable profits, all without personal financial risk. This bonus is the perfect starting capital for those who want to learn how to use MetaTrader 4 with a No Deposit Bonus account.

However, it's important to remember that this bonus always comes with strict Terms & Conditions (T&C). These T&Cs usually include account verification requirements, minimum trading volume (often called a lot requirement), or limits on profit withdrawals. As careful researchers, we always advise you to read these T&Cs thoroughly before claiming any bonus.

Why Is MetaTrader 4 (MT4) the Top Choice for Bonus Trading?

MetaTrader 4 is the most popular and widely used forex trading platform in the world. Since its launch in 2005, MT4 has become the industry standard due to its reliability, user-friendly interface, and advanced features that support various trading styles. This platform is ideal for those learning how to use MetaTrader 4 with a No Deposit Bonus account.

Here are some reasons why MT4 is perfectly suited for use with a no-deposit bonus account:

Accessibility: Available on various devices (desktop, web, mobile), so you can trade anytime, anywhere.
Complete Features: Equipped with a wide range of technical analysis tools, built-in indicators, and the ability to install custom indicators or Expert Advisors (EAs).
Ease of Use: Despite its sophistication, the MT4 interface is quite intuitive, making it easy for beginners to learn and adapt.
Stability: Known for its stability and execution speed, which are crucial in trading.

The combination of MetaTrader 4 with a No Deposit Bonus account gives you a solid foundation to start your trading journey safely and purposefully, while effectively learning how to use MetaTrader 4 with a No Deposit Bonus.

Step-by-Step: How to Use MT4 with Your No Deposit Bonus Account

Let's go over the practical steps so you can start trading and understand how to use MetaTrader 4 with a No Deposit Bonus account firsthand.

Step 1: Find a Broker with the Right No Deposit Bonus (NDB) Offer

The first step in using MetaTrader 4 with a No Deposit Bonus account is to find a forex broker that offers a suitable no-deposit bonus. Not all brokers provide them, and the conditions can vary greatly.

Do Your Research: Look for a broker with a good reputation and clear regulation. Read reviews from other traders about their bonus offers.
Check the T&C: Compare the lot requirements, withdrawal limits, and allowed currency pairs for trading with the bonus.
Information Sources: You can find reliable information on platforms like fxbonus.insureroom.com, which regularly reviews the best bonus offers for MT4 trading.

Step 2: Account Registration and Verification Process

After choosing a broker, you need to register and verify your account. This process is standard for all regulated brokers to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, which is also essential for claiming and withdrawing profits from your bonus account.

Fill Out the Registration Form: Complete your personal data honestly and accurately.
Verify Your Identity: Upload the required documents, usually an ID/Driver's License/Passport and proof of address (e.g., a utility bill). This verification process is important so you can claim the bonus and, more importantly, withdraw your profits later when using MetaTrader 4 with a No Deposit Bonus.

Step 3: Claiming Your No Deposit Bonus

Once your account is verified, the bonus will usually be automatically credited to your trading account. However, some brokers may require you to:

Click a Claim Button: In your client area.
Enter a Promo Code: If applicable.
Contact Customer Support: To request bonus activation.

Make sure you follow the broker's instructions carefully. Remember, this bonus is real trading capital, not money that can be withdrawn immediately without meeting the T&Cs. This is a key step in using MetaTrader 4 with a No Deposit Bonus.

Step 4: Downloading and Installing MetaTrader 4

Now it's time to set up your trading platform. This is a core part of learning how to use MetaTrader 4 with a No Deposit Bonus.

Download from the Broker: Visit your broker's website and find the link to download MetaTrader 4. Brokers often have a version of MT4 that is pre-configured for their servers.
Choose Your Version: Make sure you download the version compatible with your device's operating system (Windows, macOS, Linux, Android, iOS).
Installation: Follow the standard installation guide. The process is usually very easy and quick.

Step 5: Connecting Your No Deposit Bonus Account to MetaTrader 4

Once MT4 is installed, you need to connect it to your bonus account. This step will officially integrate your bonus into the trading platform.

Open MT4: Run the MetaTrader 4 application.
Login to Trade Account: Select "File" > "Login to Trade Account".
Enter Your Credentials: Input your trading account login number (usually sent by the broker via email), trading password, and select the correct server as instructed by the broker.
Check the Connection: If the login is successful, you will see the price charts start moving, and in the bottom right corner, the connection will show an active "Kb/s" status. Your bonus account balance will also appear in the "Terminal" window under the "Trade" tab. You are now ready to start trading with this free capital!

Step 6: Exploring the MetaTrader 4 (MT4) Interface

Take some time to familiarize yourself with the MT4 interface. This will help you use your No Deposit Bonus account more effectively on MetaTrader 4.

Market Watch: Displays a list of currency pairs and other trading instruments with real-time bid/ask prices.
Navigator: Here you can see your trading accounts, Expert Advisors (EAs), indicators, and scripts.
Chart Window: The main area for viewing price charts. You can open multiple charts at once.
Terminal: The window at the bottom that displays account information (balance, equity, margin), currently running trades, pending orders, account history, news, and more.

Essential MetaTrader 4 (MT4) Features to Optimize Your No Deposit Bonus Account

As a beginner using MetaTrader 4 with a No Deposit Bonus account, there are several basic features that are very important for you to master.

Reading Charts and Performing Technical Analysis

Chart Types: You can choose the chart type that is easiest for you to understand (line, bar, or candlestick). Candlestick is the most popular because it provides a lot of information in a single "candle".
Time Frames: Change the time frame (M1, M5, H1, D1, etc.) to view price movements over different periods.
Indicators: MT4 provides many built-in indicators like Moving Average, RSI (Relative Strength Index), MACD, and others. Use these to help analyze trends and market conditions. For a bonus account, start with simple indicators to understand the basic concepts.

Placing Orders (Buy/Sell)

There are two main types of orders you need to know when using MetaTrader 4 with a No Deposit Bonus:

Market Execution: The trade is executed immediately at the current market price. You can click the "New Order" button or icon on the toolbar, then select "Market Execution".
Pending Order: Allows you to place an order to be executed at a specific price in the future (e.g., Buy Limit, Sell Limit, Buy Stop, Sell Stop). When placing an order, pay attention to the volume or lot size. For a small bonus account, it is highly recommended to use the smallest available lot size (e.g., 0.01 lots or a micro lot) for good risk management.

Setting Stop Loss (SL) and Take Profit (TP)

This is the most important feature for your risk management, especially with bonus capital. This is a crucial lesson in how to use MetaTrader 4 with a No Deposit Bonus.

Stop Loss (SL): The maximum loss you are willing to tolerate. If the price moves against your position and hits the SL level, the order will be automatically closed to prevent further losses.
Take Profit (TP): Your desired profit target. If the price reaches the TP level, the order will be automatically closed to secure your profit. Always place an SL and TP on every order. This is a professional trader's habit that protects your capital and your emotions. You can set SL/TP when opening a position or edit it after the position is open in the "Terminal" window.

Monitoring Your Trades (Terminal Window)

The "Terminal" window is your control center when using MetaTrader 4 with a No Deposit Bonus account.

"Trade" Tab: Displays your running positions, pending orders, account balance, equity (balance + floating profit/loss), margin used, and free margin (funds available for opening new positions).
"Account History" Tab: Displays all closed trades, including profit or loss, date, and time. This is very useful for creating a trading journal and analyzing your performance.

Initial Strategy and Risk Management When Using a No Deposit Bonus Account on MT4

Using MetaTrader 4 with a No Deposit Bonus is about learning and experience, not just chasing big profits instantly. Apply these strategies and risk management techniques:

Focus on Learning: Treat this as a demo account that can earn you money. Prioritize understanding how the market works, the MT4 platform, and basic trading strategies.
Choose Major Currency Pairs: Start with major currency pairs like EUR/USD, GBP/USD, or USD/JPY. These pairs generally have lower spreads and high liquidity.
Use Very Small Lot Sizes: Again, use 0.01 lots. This will minimize your risk and allow you to stay in the market longer.
Be Disciplined with Stop Loss and Take Profit: Never trade without an SL and TP. This is your most important tool for protecting your bonus capital and any profits you make on MetaTrader 4.
Keep a Trading Journal: Record every trade from your "Account History" tab. Learn from your mistakes and replicate your successes.
Avoid Overtrading: Don't open too many positions or trade too frequently. This is a common beginner mistake that can quickly deplete your bonus account. Be patient and wait for clear setups.

Conclusion: Seize the Opportunity of a No Deposit Bonus Account on MetaTrader 4 Wisely

Congratulations! You now understand how to use MetaTrader 4 with a No Deposit Bonus account from the very beginning until you're ready to make your first trade. Remember, a no-deposit bonus is a valuable gift that allows you to experience the thrill of real forex trading without any initial capital. It is a very powerful tool for honing your skills, testing strategies, and building confidence using a leading trading platform like MT4.

Never think of this as a "get rich quick" scheme. Instead, consider it an investment in your trading education. With a careful, disciplined approach and good risk management, you can leverage this bonus account to gain invaluable experience and even potentially withdraw some decent profits.

We at fxbonus.insureroom.com are always here to support your trading journey with accurate and trustworthy information. Start your trading adventure wisely today, and good luck in using MetaTrader 4 with your No Deposit Bonus!

By: FXBonus Team