New to MT4?

The six terms you need, in plain language

Read this once and the rest of the site will make sense. Then run through the checklist at the bottom before you pay for anything.

MetaTrader 4 (MT4)

A free Windows program for trading. Your broker gives you a login for it. It shows prices, lets you place trades and, importantly here, can run small add-on programs that trade for you.

It is the Windows desktop version that matters: MT4 on a phone or Mac, and MetaTrader 5, cannot run the Wavqu EA.

Expert Advisor (EA)

An Expert Advisor (EA) is the trading program that runs inside MetaTrader 4. It places or closes trades on your account; you attach it to a chart and it works while MT4 is open.

The Wavqu EA does not decide anything itself. It reports your account state to our server and carries out the signed instructions it gets back.

Trading account number

The number you log in to MT4 with, issued by your broker. It is shown in MT4's title bar and in the Navigator panel. It is not your password and it is not a card number.

Your Wavqu licence is issued for one account number. You can change it from your dashboard once every 30 days.

Licence key

A code like PW-XXXX-XXXX-XXXX that we issue when your payment succeeds. You paste it into the Wavqu EA's settings. It proves to our server that this MT4 account has an active subscription.

Keep it private; anyone with the key and your account number could use your subscription.

VPS (virtual private server)

A Windows computer that you rent and reach over the internet. People use one so that MT4 can keep running when their own PC is off. Any Windows VPS provider will do; we do not supply or require one.

If your own PC stays on and online all the time, you do not need a VPS.

Deposit limit

Each plan has a deposit limit: how much of your own money you can put into the trading account. Deposits use up your allowance. Realised losses and withdrawals restore it. Trading profit never changes it. It is one number in your trading account's own deposit currency, with no conversion (the Starter limit of $2,000 (or 2,000 in GBP or EUR)). Supported account currencies are GBP, USD and EUR. These are account eligibility limits, not recommended investment amounts. Your dashboard shows the limit, the allowance used and the available deposit allowance. If deposits exceed your allowance, new baskets pause until you withdraw the excess or upgrade; existing baskets continue under the bot's normal rules. Wavqu cannot block deposits at the broker. How deposit limits work

The Ultimate plan has an unlimited deposit allowance. Ultimate has no deposit limit; it does not mean unlimited trading exposure or removed risk controls. It runs the same strategy as every other plan, with the same lot sizing and safety net; a larger deposit means larger amounts at risk, not less risk.

Suitability checklist

Before you pay, can you tick all of these?

This is not advice. It is the practical minimum for the service to work and for you to understand what you are buying.