Sometimes you need to run multiple instances of MetaTrader platform on your computer at the same time. For example, you follow more than one trading system and you have a different template for each. It is a pain to switch between the different templates or profiles on the same platform any time you want to check the charts based on one of the trading systems. But you can simply install and run multiple instances of MetaTrader on your computer and have only one of the systems and its related template and profile on each. They can work on your computer at the same time and to check the charts based on each trading system you only need to click on each platform icon on your computer taskbar.
Also, some traders have more than one monitor. They have to run a separate instance of MetaTrader for each monitor, because unlike some other trading platforms, with MetaTrader you cannot take the price charts out of the platform main window, and so you cannot have a chart from the same instance of MetaTrader on each monitor. If you want to use several monitors with MetaTrader, the only solution is running multiple instances of the platform.
You can login to the same account through each of the MetaTrader platforms you run on your computer, so that you can take positions through any of them.
Now the question is how we can install and run several instances of MetaTrader platform on the same machine?
It is very easy. You have to install MetaTrader in different folders and run it from each folder separately.
First, you have to download the MetaTrader installation file from your broker’s website. If you have not signed up for a live account with a broker yet, then you can simply choose a broker and download MetaTrader installation file from their website, and then sign up for a demo account after the installation. Also, you can simply refer to MetaQuotes Software Corp website and download the MetaTrader installation file for free.
Now I assume that you have already downloaded and saved the installation file on your computer. The file name is mt4setup.exe. Just double click on it. The installation wizard will be started. Then…
1. Click on the “Next” button.
2. Agree with the terms and click on the “Next” button.
3. This step is where you have to determine whether you want to have multiple instances of the same platform on your computer or not. You will see this in the installation folder textbox:
C:\Program Files (x86)\MetaTrader 4
If you want to have several instances of MetaTrader, then you can edit the above address by adding a (1) or – 1 to the end:
C:\Program Files (x86)\MetaTrader 4 (1)
or
C:\Program Files (x86)\MetaTrader 4 – 1
Therefore, the first MetaTrader will be installed in MetaTrader 4 (1) folder:
4. Click on the “Next” button and finish the installation. So you are done with the first installation.
5. Repeat the same process from the scratch and this time add a (2) or – 2 to the installation folder address:
6. Repeat this as many times as you want. If you want to run 3 instances of MetaTrader, then you have to repeat this 3 times.
7. Now you can run the platforms. If you click on the shortcut the installation wizard has placed on the desktop, then only the last instance of MetaTrader will be launched. To run all of them, you have to refer to the below folders one by one and click on the terminal.exe file:
C:\Program Files (x86)\MetaTrader 4 (1)
C:\Program Files (x86)\MetaTrader 4 (2)
C:\Program Files (x86)\MetaTrader 4 (3)
Please note that there are two terminal files. One of them is terminal.exe file that runs the platform. The other one is just an icon file which is not functional and cannot run the platform. You have to click on the functional file which has a different icon:
8. After running each platform, you can either sign up for a demo account at File>Open an Account at top left, or login to the account you already have at File>Login to Trade Account.
