Hello traders, if you are new to forex trading, i know it can be frustrating trying to connect your trading broker to the meta trader app and every time you are met up with an "authorisation failed" In this article we shall guide you on how you can connect your broker to meta trader in a few simple easy to understand steps.
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| This is frustrating 😔 |
To connect your broker to any trading platform, ofcourse the first step is creating your brokerage account and verifying it. Most brokers require to verify KYC with a valid national ID and some require proof of residence. However if you cant acess any proof of residence documentation, you can re submit the natinal id in this case, it normally works just fine.
So in this step by step guide we shall be using exness as the preferrable broker, its the one i personally use , if you live in countries where exness is not available, you can make your own research to find a preferrable broker in your country.
Step 1. Open your verified trading broker (exness)app and click the down arrow in the right corner of the page.
Step 2. Select the account type that you want to open Up, choose between demo and real depending on what you need.
Step 3.Choose between the alternative account types that are available for you but mostly choose the recommended account types as they are in most cases favourable for your account size.
Step 4. Then choose your account settings, set up the currency in which you'd like to trade in, leverage and the account name.
Step 5. Create your account password that you'll be using in metatrader to login into your account and press ok to craete your account.
Step 6. There it is, youve sucesssfully created your trading account where you can be able to deposit funds ,now the remaining part is connecting it to your trading platform(metatrader), where you'll be taking your trades. To connect your broker to meta trader, go to metatrader app ,make sure that the account you created corresponds with the metatrader app youre logging in, 4 or 5.
Go to the account you created in the broker app and click the details button.
From the details, you'll get the necesary information that youll use to log into metatrader. Go to the settings part in the deatails and copy the login and the server for your account.
Step 7. Go to metatrader >manage accounts> add existing account and then search your broker.
Step 8. Look for your server on the login page and put in your login that you copied from the broker and also the password you used to create the account.
Last step is to login into your account and start trading right away, your balance will reflect in the metatrader app and you'll be able to press your trades successfully, remember you cannot withdraw from metatrader...all transactions happen in the broker side( withdraws and deposit) Metatrader only helps you execute your trades and see your equity.
I hope this blog article was helpful to you, wish you happy and profitable trading my friend. Feel free to leave a comment if you wish.
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