MetaTrader 4 Server (Mt4 Server)
The MetaTrader 4 Server (MT4 Server) is the core backend component of the trading platform MetaTrader 4, developed by MetaQuotes. It is responsible for handling all trading operations, managing accounts, processing orders, and communicating with client terminals and liquidity providers.
The software is licensed to foreign exchange brokers who provide the software to their clients. The software consists of both a client and server component.
The server component is run by the broker and the client software is provided to the brokers customers, which use it to see live streaming prices, charts and to place orders as well as manage their account.
MetaTrader 4 Components
The complete MetaTrader 4 package includes the following components:
• MetaTrader 4 Client Terminal: the client part. Provided free by brokerages for real-time online trading and as Demo (practice trading) accounts. This provides trade operations, charts and technical analysis in real time. The internal C-like programming language allows users to program trading strategies, indicators and signals. 50 basic indicators are included, each of which can be further customized. The software runs on Windows 98/2000/XP/Vista/7. Some users have reported success using Wine on Linux for the client terminal and on Mac using WineBottler.
• MetaTrader 4 Mobile: controls a trading account via mobile devices such as mobile phones or PDAs. Runs on Windows Pocket PC 2002/Mobile 2003. Newly released mobile versions also run on the iPhone, iPad, and Android devices.
• MetaTrader 4 Server: the core of the system, the server part. Designed to handle user requests to perform trade operations, display and execution of warrants. Also, sends price quotes and news broadcasts, records and maintains archives. Works as a service. Does not have a separate interface.
• MetaTrader 4 Administrator: is designed to remotely manage the server settings.
• MetaTrader 4 Manager: designed to handle trade inquiries and manage customer accounts.
• MetaTrader 4 Data Center: a specialized proxy server and can be an intermediary between the server and client terminals. It reduces the price quote sending load on the main server.
Key Responsibilities of MT4 Server
1. Order Processing
• Receives buy/sell requests from clients
• Executes market and pending orders
• Routes orders to liquidity providers or internal matching engine
2. Account Management
• Creates and manages trading accounts
• Tracks balances, equity, margin, and profit/loss
• Applies leverage, commissions, and swaps
3. Market Data Distribution
• Streams real-time price quotes (bid/ask)
• Distributes updates to all connected client terminals
4. Risk Management
• Monitors exposure and margin levels
• Enforces stop-out and margin call rules
• Applies broker-defined trading restrictions
5. History & Logging
• Stores trade history and account activity
• Maintains logs for auditing and compliance
• Supports reporting for brokers and regulators
Communication Flow
• Trader places order in client terminal
• Request is sent to MT4 Server
• Server validates risk and account rules
• Order is executed internally or forwarded
• Result is sent back to client
• Trade is recorded in history database
Advantages and Limitations
Advantages
• Stable and widely adopted trading infrastructure
• Handles large number of concurrent traders
• Integrated risk and account management system
• Strong ecosystem of brokers and plugins
• Real-time execution and data distribution
Limitations
• Legacy architecture (older compared to MT5)
• Limited multi-asset support
• Less flexible for modern high-frequency trading systems
• Closed-source (controlled by MetaQuotes)
• Requires specialized infrastructure setup
