How to Use MetaTrader 4 with a Bonus?
As a meticulous financial analyst, I often see great enthusiasm when a broker offers a bonus, especially a no deposit bonus. This offer is indeed attractive, as if you are getting free capital to start trading.
However, claiming the bonus is just the first step. The real challenge is: How to Use MetaTrader 4 with a Bonus?
The MetaTrader 4 (MT4) platform is the industry standard, and bonus accounts often have slightly different working mechanisms than regular real accounts. In this article, we will dissect step-by-step, from bonus activation to tactical strategy implementation on MT4, ensuring you operate carefully and comply with all applicable rules.
We do not promise instant wealth—because successful trading requires discipline and knowledge—but we will empower you with clear guidance.
Why is MetaTrader 4 Important in Bonus Trading?
MetaTrader 4 is the most popular trading platform due to its reliability, execution speed, and complete technical analysis tools. When you receive a bonus from a broker, the funds will be allocated to your specific trading account type, which you must then access via MT4 (or MT5).
Using MT4 with a bonus account requires extra precision because bonus capital tends to be smaller, and its leverage/margin rules can be very strict. You must ensure that every trading order you place complies with the bonus terms and conditions (T&C). Deep understanding of MT4 is crucial to maximizing the potential of these bonus funds.
Preparation Phase: Activating and Verifying the Bonus
Before you open MT4, make sure you have completed the following critical steps:
1. Read Terms and Conditions (T&C) Carefully
This is the step most often skipped. A bonus account is not just 'free money'; it comes with a set of strict limitations. Know these things:
- Bonus Type: Is it a Credit Bonus (can only be used to hold positions and absorb losses, but cannot be withdrawn) or a Withdrawable Bonus (rare, but exists)?
- Minimum Trading Volume (Lot): How much trading volume must you achieve so that profit (or even the bonus itself) can be withdrawn?
- Leverage Limits: Brokers may limit your leverage (e.g., to 1:100) when using a bonus account, even if the real account offers 1:500.
- Strategy Restrictions: Some bonuses prohibit hedging (locking opposite positions) or scalping (super-fast trading) between accounts.
2. Complete Account Verification
Most brokers will not activate your bonus, let alone allow profit withdrawals, before your account is fully verified (KYC). Prepare valid identity documents and proof of residence. Ensure all data you provide to the broker matches exactly with your MT4 trading account details.
3. Confirm Bonus Allocation
After the broker claims to have allocated the bonus, check your Client Dashboard. Ensure the funds have been deposited into your specific trading account number. This account number is what you will use to login to MT4.
Practical Steps: How to Use MetaTrader 4 with a Bonus
Once the bonus is credited, let's move to the trading platform.
1. Installation and Accessing MT4
If you don't have MT4 yet, download it from the broker's official website or app store (for mobile trading).
- Login to MT4: Open the platform. Select File -> Login to Trade Account.
- Enter Login Details:
- Login: Trading Account Number (the one that received the bonus).
- Password: Trader Password (not investor password).
- Server: Select the correct server provided by the broker (e.g., Live-Server-01 or Real-Server-A).
If the login is successful, you will hear a chime sound. In the "Navigator" window or at the bottom of the screen (for mobile), the connection status will turn green or show the amount of data transferred.
2. Checking Bonus Balance in MT4
This is a crucial check step to ensure How to Use MetaTrader 4 with a Bonus effectively.
Look at the Terminal window (usually at the bottom of the screen). You will see three main columns:
- Balance: The amount of your real deposit (if any).
- Equity: Balance plus/minus profit/loss from open positions.
- Credit: This is where most no deposit bonuses are recorded. This figure shows the bonus amount that can only be used for trading or holding floating loss.
If your bonus is recorded as "Credit," you know that the funds cannot be withdrawn, but are very useful for increasing your margin.
3. Calculating the Right Lot Size
Since your bonus capital is small (e.g., $30 to $100), risk management is everything. You must not place trading orders that are too large, as the risk of margin call (automatic liquidation) is very high.
Use a position size calculator (widely available online) or calculate manually based on risk per trade (e.g., maximum 1-2% of total equity).
- Simple Example: If you have $50 Equity, and you are willing to risk 2% ($1), you must adjust your lot size so that a $1 loss occurs only if your Stop Loss is hit. Usually, this means you can only use super small lots (micro lots, 0.01 lot) on major currency pairs.
4. Placing Orders Carefully
When you open the order window in MT4 (right-click on chart or press F9):
- Volume: Ensure you enter the lot volume you have calculated beforehand. Do not leave the MT4 default which might be too large.
- Stop Loss (SL) and Take Profit (TP): Always, repeat, always use Stop Loss. This is the key to risk management, especially in small bonus accounts. Set your SL and TP immediately after you open a position.
- Execution: Click Buy or Sell.
Tactical Strategies: Meeting Profit Withdrawal (WD) Requirements
The main goal of trading with a bonus is securing profit and withdrawing it. To do that, you must meet the trading volume requirements set by the broker.
1. Tracking Achieved Lot Volume
MT4 allows you to track your progress.
- Access the Terminal window.
- Select the Account History tab.
- Right-click and select Custom Period if needed.
- Look at the Volume column of all closed trades. Sum up these volumes.
If the broker requires a total of 2 standard lots (200 micro lots) to be able to withdraw profit, you must monitor this history regularly—this is an integral part of How to Use MetaTrader 4 with a Bonus to achieve withdrawal goals.
2. Using Simple and Clear Trading Strategies
With small capital, avoid highly volatile markets (like some exotic pairs or Gold during big news hours) unless you are absolutely sure.
Focus on strategies that have a good Risk/Reward ratio (minimum 1:2 or 1:3). This means your potential profit is at least twice as large as your loss risk.
You might be interested in reading more details on how to utilize this free capital, such as our guide on How to Use MetaTrader 4 with a No Deposit Bonus Account?
3. Controlling Emotions (Trading Psychology)
Bonus capital, although "free," can trigger dangerous emotions: a sense of being too brave because it's not your money, or conversely, excessive fear. Remember, the discipline you apply in a bonus account is the best practice for your future real account.
To keep your bonus account safe from market turbulence, learn deeper about 7 Risk Management Strategies for $50 Bonus Accounts. Good risk management is the foundation of success, even with limited capital.
Conclusion: Care and Discipline are Key
Understanding How to Use MetaTrader 4 with a Bonus is a golden opportunity for you to test brokers and sharpen strategies without personal capital risk. However, the process demands you to be a meticulous researcher—understanding T&C, verifying accounts correctly, and disciplinedly monitoring your trading volume progress in MT4.
Once you meet all lot requirements, the next step is profit withdrawal. Never assume the process is automatic. You may need to submit a withdrawal request manually through the client dashboard, referencing the trades you made in MT4.
With this guide, we hope you can optimize the use of MT4 with your bonus. Happy trading wisely!
If you have reached the trading volume target, understand the next procedure by reading our guide: How to Withdraw Profits from a No Deposit Bonus Account?. This ensures your efforts in MT4 are not in vain.
By: FXBonus Team
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