Platform decision matrix
Course context: This lesson belongs to a practical beginner curriculum for Pakistan.
| Platform | Best use | Unavailable or limited |
|---|---|---|
| MT4 desktop | MQL4 EA, custom indicators, manual orders | Older architecture; MQL5 code incompatible |
| MT5 desktop | MQL5 EA, broader testing and multi-asset workflow | MQL4 code incompatible |
| Exness Terminal | Browser charts, built-ins, replay and manual orders | No EA; custom-script support should be verified in live interface |
| MetaQuotes WebTerminal | Basic MT4/MT5 browser trading | No EA, trailing stop, Signals or custom indicator install |
| Exness Trade/mobile MT | Monitoring and manual mobile orders | No desktop EA hosting |
Metal contract differences
| Symbol | Contract size | Minimum volume | Key implication |
|---|---|---|---|
| XAUUSD | 100 troy ounces | 0.01 lot | Minimum nominal exposure equals one ounce |
| XAGUSD | 5,000 troy ounces | 0.01 lot | Minimum nominal exposure equals 50 ounces |
| XAUUSD247 | 100 troy ounces | 0.01 lot | Separate 7-day/SPO pricing and fixed 0.5% margin |
| Other metal crosses | Check exact specification | Usually 0.01 lot | Margin, commission and availability vary by symbol |
Installation and account checks
- Identify whether the account is MT4, MT5 or Exness-platform based.
- Install/open only a compatible official platform.
- Use the numeric trading login, trading password and exact server where required.
- Reveal the correct metal symbol and suffix in Market Watch.
- Open Specification and record contract size, volume, margin, commission, swap and hours.
- Test one minimum-volume demo order and retrieve its logs/history.
Analysis workspace
Use separate templates for XAUUSD and XAGUSD because their contract sizes and volatility differ. Display Bid and Ask, mark server UTC+0 and Pakistan UTC+5, show HMR/news periods, and keep a cash-risk calculator beside the order ticket. More indicators do not compensate for a missing cost or size calculation.
Automation acceptance test
- EA language matches MT4 or MT5.
- Position size uses the exact metal contract.
- Spread/HMR/news filters are enforced.
- State recovers after restart or connection loss.
- Maximum exposure and daily loss are hard-coded.
- At least twenty demo signals include real execution logs.
Official references
Metal CFD specifications · Platform comparison · Symbol suffixes
Questions from a first-time learner
Which platform is required for a metal EA?
Use MT4 or MT5 desktop with an EA written for the matching MQL version.
Can WebTerminal run a gold EA?
No. WebTerminal does not run EAs or scripts.
Why cannot I size gold and silver identically?
XAUUSD and XAGUSD have different contract sizes and price behaviour.
Is XAUUSD247 just weekend XAUUSD?
No. It is a distinct symbol with Special Price Offset and separate fixed-margin conditions.