How to Close your MT4 Account
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In some cases, you open a Metatrader 4 account but 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 open trades and do technical analysis. MT4 does not interfere with any account-related operations (e.g., opening, closing, or depositing an account).
Therefore, you need to close your MT4 account through the broker you opened your trading account.
There are two ways for you to close your MT4 account:
- Contact the support of the broker .
- Manually close the account of the broker’s Members Area.
How to Close your MT4 Account
As mentioned above, you can ask support to close your MT4 account. However, you can completely deactivate your account in the Members Area for more 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 alerts of closing the account will appear. If you still want to close the account, click on Close Trading Account to continue.
Step 3: Then, the broker email you to confirm the account closure. Access the email you used to register your account, then verify one more time.
So you have completed closing your MT4 account. The above is a definitive guide to closing an XM account. The operations to close accounts on other brokers are similar.
However, there are a few general notes you should take into consideration:
- 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, make sure you 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 finished.
Questions regarding MT4 account closing
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 you closed your trading account?
Once your account is closed, 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 allows you to cancel your account closure request within 24 hours of your account closing.
4. Can I close my Demo account?
Closing a Demo account is also very simple. You can quickly close your demo account right on the MT4 platform by clicking on Navigator -> Accounts. Right-click on the account you want to close -> press Delete. Then click Yes to confirm one more time.
In fact, if you haven’t funded your account yet, you don’t necessarily need to close it as brokers don’t charge any fees for unused accounts. Do you keep that account for future trading.
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