Sometimes in Metatrader 4 and Metatrader 5 platform, 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 to 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 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 to open a new position.
Maximum leverage on level 1:1000 you can set using Hotforex account, and you can set this high leverage by yourself.
Sometimes, even pending trades can be deleted. Mt4 comment is Deleted [No money]. In that case, the trader needs to check the free margin and to have enough wide stop loss and target.
After off quotes MT4 error, this is the second most frequent errors during Metatrader trading.