Sometimes in Metatrader 4 and Metatrader 5 platforms, we can see an error “Not enough money.”
MT4 “Not enough money” error means that the trader is trying to place a new trade, and his account doesn’t have enough money to cover the margin requirement. That means the free margin is less than the required margin for the new trade. The trader needs to increase leverage or add more money into the account.
So there are two solutions:
1) Traders need to add more money to the account.
2) Traders need to increase leverage in the MT4 account (on this link, you can read our article on how you can increase leverage in your trading account).
For example, you want to trade a 0.1 lot (1 mini lot) trading position for the EURUSD pair. Your leverage is 1:100. EURUSD is 1.3. You need to have more than $130 to open a new position:
Margin = V (lots) × Contract / Leverage = 0.1 × 100,000 EUR / 100 = 100 EUR.
Margin = 100 EUR × 1.30 = 130 USD
So if you have less than $130, you can have a problem opening a new position.
Maximum leverage on level 1:1000 you can set using a Hotforex account, and you can set this high leverage yourself.
Sometimes, even pending trades can be deleted. Mt4 comment is Deleted [No money]. In that case, the trader must check the free margin and have enough broad stop loss and target.
MT4 keeps saying not enough money
If you see that your platform keeps showing “not enough money,” even if you deposit money in your account problem can be maximum leverage. Sometimes, during important news or colossal volatility, the broker can decrease your trading margin and your leverage, and you will not be able to open a position. Additionally, if you trade with small capital, your broker can increase the minimum balance on your account, so you need to add more money.
Now, I will write you one personal story related to this topic.
In 2022, I got a “Not enough money” MetaTrader 4 error while trading cryptos. I had a separate MT4 account only for Bitcoin trading. There was a massive drop in Bitcoin price, and my broker decided to set a 1:50 maximum leverage. I couldn’t create a significant trading position and got “Not enough money.” A few days after that, my broker decided to stop offering cryptos as trading instruments. I do not trade with this broker anymore. However, I just wanted to show you that sometimes problems can be from the broker’s side.
After off quotes MT4 error, this “Not enough money” error is the second most frequent error for Metatrader traders.
Read more about Hotforex accounts and leverage them on their webpage.
He is an expert in financial niche, long-term trading, and weekly technical levels.
The primary field of Igor's research is the application of machine learning in algorithmic trading.
Education: Computer Engineering and Ph.D. in machine learning.
Igor regularly publishes trading-related videos on the Fxigor Youtube channel.
To contact Igor write on:
igor@forex.in.rs
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