In some cases, you open a Metatrader 4 account but you no longer need to invest/trade. You can close your MT4 account. The following article guides you on how to close your MT4 account.
Different Ways to Close MT4 Accounts
In essence, MT4 is not a broker. MT4 is just a platform in which to open trades and do technical analysis. MT4 does not interfere with any transaction related to the account (for example, opening, closing or depositing an account).
Therefore, you need to close your MT4 account through the broker that you have opened your trading account.
There are two ways to close your MT4 account:
- Contact the broker’s support.
- Manually close the broker’s Members Area account.
How to close your MT4 account
As mentioned above, you can ask for support to close your MT4 account. However, you can completely deactivate your account in the Members Area for added convenience.
The specific steps are as follows:
Step 1: Go to the Members Area on the broker’s official website.
Step 2: Click Close Account. Some account closure alerts will appear. If you still want to close your account, click Close Trading Account to continue.
Step 3: Then, the broker sends you an email to confirm the closure of the account. Log in to the email you used to register your account, then verify once again.
Then you have completed the closure of your MT4 account. The above is an ultimate guide to closing an XM account. Operations to close accounts on other brokers are similar.
However, there are some general notes that you should consider:
- Before closing the account, make sure that you have closed all open positions, withdrawing all the money from the account.
- In case you have multiple accounts, be sure to log in and select the correct account you want to close and do not switch to any other trading account until the closing process is complete.
Questions regarding mt4 account closure
1. How long does it take to close your account?
It usually takes up to 3 business days to close an account. Depending on the broker, this process can be faster or slower.
2. Can you reactivate after closing your trading account?
Once you close your account, you can no longer reactivate it. Therefore, you should consider it thoroughly.
However, you can always create a new one with a different username and email address. Usually, brokers allow you to open many different accounts.
3. Do I cancel my account closure request?
Some brokers allow you to cancel your account closure request within 24 hours of closing your account.
4. Can I close my Demo account?
Closing a demo account is also very simple. You can quickly close your demo account directly on the MT4 platform by clicking on Navigator -> Accounts. Right-click the account you want to close, and -> press Delete. Then click Yes to confirm once again.
In fact, if you haven’t funded your account yet, you don’t necessarily have to close it since brokers don’t charge any fees for unused accounts. Keep that account for future trading.