Most of the major foreign exchange (Forex) brokers allow their Forex traders to use the MetaTrader 4 (abbreviated as MT4) trading platform from Metaquotes. While most of these traders are familiar with the trader’s password, which allows them to make transactions in their Forex trading account, some of the newer forex traders want to find out what is investor password mt4. The investor password is one of the two passwords for an MT4 Forex terminal, the other password being the trading or master password. This password will give the user permission to monitor a particular trading account. However, the user will not be able to make any trades for the account.
So, what is investor password MT4?
An investor password or read-only password is a Metatrader login password that trader can provide someone who does not trade or is not allowed to trade. Fund managers often provide investor password to their clients so they can see trading history, account balance, statistics. MT4 change investor password procedure can be done in two ways: either account owner (trader) can go to Tools/Options/Server and change password in MT4 platform or account owner can reset the password from the brokerage account.
Why is the investor password provided?
The main reason why the investor password was provided for the MT4 account, was to allow the Forex traders to show the results of their Forex trades to investors who were interested in investing in forex through these traders. The investor password allowed the investors to monitor the forex account, with the risk that the potential investors would make trades, in some cases accidentally. The Forex trader does not have to use a monitoring service to prevent unauthorized access, only a trading terminal has to be authorized using the password.
Providing the investor password to potential investors is convenient and safe for the trader. The investors also prefer to use it, since they can get real-time information on the trading account they are tracking. The investor may only face a problem in connecting if the trade server address is not correctly specified. The investor has to download the mt4 terminal from the broker of the Forex trader. Alternatively, he can specify the address of the server manually.
MT4 change investor password
For a particular Forex account, only the Forex trader who knows the master password for the account is permitted to change the investor password. No investor is allowed to change the investor password. In the trading terminal, there is a tools menu, and in this menu, the options menu has to be selected. In the server section of the options menu, the account number and password are displayed along with a change button. In this, the trader should only change the investor or read-only password. The user should enter the new five-character password for investors twice and also the current password for the Forex account to confirm it. If the investor password is changed, an audio signal will be heard and the window will be closed. Some brokers allow password change using a personal account.
Periodic password change
Experts recommend that Forex traders should change their investor password periodically, especially if it is being shared with others often. There is a real danger that hackers and other intruders will misuse the password to link the Forex account of the trader to a monitoring service. They will then falsely claim that the account belongs to them and dupe others. So though the trader may not lose any money, their reputation may get adversely affected, making it difficult to attract investors in the future.
Example: See how you can reset XM investor password on MT4 platform below: