Chapter 1: Setting Up Your Trading Platform – Installing MT4 and Signing Up for a Broker
Welcome to the first step of your journey as a No Nonsense Forex Trader. To begin, you’ll need to set up your trading environment. This involves installing the MetaTrader 4 (MT4) platform, a widely used software for Forex trading since 2005, and opening a brokerage account. Recommended brokers include OANDA, ProFX, FBS, and XM, all of which offer free MT4 downloads and demo accounts. For Mac users, transitioning to a Windows laptop (preferably running Windows 10) is advised for seamless compatibility with MT4 and additional backtesting software. Avoid partitioning your Mac; instead, invest in a low-end Windows laptop paired with a 27-inch monitor for comfortable home and travel use. Once installed, familiarize yourself with MT4 by placing demo orders and exploring its features, including adding indicators, to build confidence before creating your trading algorithm.
Install MT4/Broker: www.octafx.com/signup/

Update: April 2025
If you are using Strategy Quant consider IC Markets (www.icmarkets.com) as your broker because you can use the Broker Profile feature to match broker timezone, tick step, swap fees and spreads on your data as well as use their Demo Accounts for unlimited periods of time if you are actively trading (up to 20 day non activity period) which is pretty damn nice. I am using them because they accept Japan residents and fit nicely with Strategy Quant. – Dave
