How To Trade Oil CFDs On MT4?

The ongoing geopolitical tensions, particularly in the Middle East, have instigated notable market volatility, especially in the energy sector. The tensions have escalated due to recent confrontations between Israel and Hamas, causing fear of a broader conflict that could potentially disrupt global crude oil supplies​. 

Amid these concerns, Brent crude prices have experienced a noticeable uptick. On October 27, 2023, Brent futures rose by 2.9% to settle at $90.48 per barrel as concerns over a wider conflict in the Middle East grew. This price surge was notable, especially in a week when Brent was down by about 2%​.

Traders and investors could leverage the rise in Brent crude prices in various ways:

1. Long Positions on Brent Crude: Given the ongoing geopolitical tensions, traders could consider taking long positions on Brent crude futures or related ETFs, anticipating that any further escalation in the Middle East tensions might drive prices higher.

But how do you do this in your MT4 account? 

Desktop – 

Open Your MT4 Platform:

• • Launch the MetaTrader 4 platform on your computer.

Locate the Market Watch Window:

• • Look for the “Market Watch” window, which is usually on the left side of the MT4 interface. If you don’t see it, you can enable it by pressing Ctrl+M on your keyboard.

Add New Symbol:

• • Right-click anywhere in the “Market Watch” window; a menu will pop up.
  • Select “Symbols” from the menu or press Ctrl+U on your keyboard. This will open a new window named “Symbols.”

Find Brent Crude:

• • In the “Symbols” window, you’ll see a list of different asset categories. Look for the category containing Brent Crude (it might be under CFDs, Commodities, or similar).
  • Click on the “+” sign to expand the category, and you should see a list of assets under that category.
  • Scroll through the list until you find Brent Crude. It might be listed as “UK Brent,” “Brent Crude,” “UKOIL,” or something similar.

Add Brent Crude to Market Watch:

• • Highlight Brent Crude by clicking on it.
  • Click the “Show” button.
  • Click the “Close” button to exit the “Symbols” window.

Verify Addition:

• • Brent Crude should now appear in your “Market Watch” window.

Mobile

Open MT4 App:

• • Please tap on the MetaTrader 4 app icon on your mobile device to open it.

Access the Quotes Tab:

• • Once inside the MT4 app, locate and tap on the “Quotes” tab, usually found at the bottom of the screen.

Add Symbol:

• • For Android: Tap on the “+” icon, usually located at the top right corner of the screen.
  • For iOS: Tap on the “plus” sign usually found at the top right corner of the screen.

Find Brent Crude:

• • A list of available financial instruments will appear. Look for the category containing Brent Crude (it might be under CFDs, Commodities, or similar).
  • Please tap on the category to expand it and see the list of available assets.

Add Brent Crude:

• • Scroll through the list until you find Brent Crude. It might be listed as “UK Brent,” “Brent Crude,” “UKOIL,” or something similar.
  • Tap on Brent Crude to add it to your “Quotes” tab.

Verify Addition:

• • Go back to the “Quotes” tab to verify that Brent Crude has been added to the list of assets.