In short. There are four ways to monitor a MetaTrader 4 account: the MetaTrader 4 mobile app, the investor password, the MQL5 Signals service and a monitor EA in the terminal. The first three show you the account, while the Davinchu monitor also keeps your trade journal for you. The key numbers are equity, equity drawdown and margin level: margin level = equity / margin × 100%, so with $9,450 of equity and $1,500 of margin it is 630%. The Davinchu Trade Monitor EA for MT4 moves your history and every trade into the journal and analytics on its own, and if the terminal stops reporting, Davinchu sends «Account connection lost» after about 10 minutes. The Free plan connects two accounts at no cost.
Facts about MetaTrader 4 and MQL5 come from official MetaQuotes pages as of 29 October 2026. The steps to connect an account to Davinchu are in the MetaTrader 4 help page.
Four ways
| MT4 app | Investor password | MQL5 Signals | Monitor EA | |
|---|---|---|---|---|
| How it connects | log in to the account from an iOS or Android phone | a view-only password, in any MT4 terminal | account number, investor password and server | an EA on a terminal chart |
| Desktop terminal must be running | no | no | no, the signals server reads the trades | yes — on a computer or a VPS |
| Who sees the account | you | whoever you give the password to | everyone: the signal is public | you and whoever you open a link for |
| Trade journal with review | no | no | no | yes, in Davinchu |
| Terms | free | free | real account, paid subscription, the service keeps 20% | Davinchu Free — 2 accounts at no cost |
The MetaTrader 4 app and the investor password
Mobile MetaTrader 4 runs on iOS and Android. According to MetaQuotes, it lets you control the state of your account, follow your trade history, use interactive charts and receive push notifications. It is a quick look at the account from your phone: you open the app and check it yourself.
The investor password is a view-only account password. Per the MetaTrader 4 help, it lets you see the account state, analyse prices and work with your own EAs, but not perform trading operations, EAs included; full rights come only with the master password. MetaQuotes calls it a handy tool for demonstrating trading — to an investor or a mentor, for example. How it works in the fifth version is covered in «MT5 investor password: what it gives and how to change it».
MQL5 Signals
The MetaQuotes Signals service accepts MetaTrader 4 accounts too. The provider enters the account number, investor password and server; the signals server reads the trades, so the provider does not have to stay logged in to the terminal. Signal monitoring shows growth, balance, equity, deposits and withdrawals, maximum drawdown, profit factor, Sharpe ratio and trade history — on the MQL5 website and in the «Signals» tab of the «Terminal» window.
Under the service rules as of 29 October 2026, a signal can be created only on a real account — demo, contest and cent accounts are not allowed, subscriptions can only be paid, the service keeps 20% of the payment, and the seller's identity documents are checked. It is a storefront for selling copy-trading subscriptions.
What to watch on the account
| Metric | How it is calculated | Example |
|---|---|---|
| Equity | simply put, balance plus the floating result of open positions | 10,000 − 550 = $9,450 |
| Equity drawdown | (equity peak − equity) / peak × 100% | (10,500 − 9,450) / 10,500 = 10% |
| Margin level | equity / margin × 100% | 9,450 / 1,500 × 100 = 630% |
Margin call and stop out levels are account properties, set in percent or in money; check your broker's terms. If the stop out is at 50% in our example, the most unprofitable order is closed by force once equity falls to 50% × 1,500 = $750 — that is, after another $8,700 of losses. The mechanics are explained in «Margin, leverage, margin call and stop out explained» and «How to calculate account drawdown»; the margin calculator works out the margin level of your own position.
The fourth thing is the connection to the account. An EA works only while the terminal is open: the VPS reboots or the internet drops, and data stops coming. What matters is that someone tells you about the silence. To run around the clock, keep the terminal on a VPS.
MetaTrader 4 specifics: history and WebRequest
- Only the loaded history. Per the MQL4 documentation, the size of the history available to programs depends on the settings of the «Account History» tab. For an EA to see your old trades, right-click that tab and choose the full history.
- No separate trade event. MQL4 handlers include OnInit, OnTick, OnTimer, OnChartEvent and others, but there is no trade operation event. A monitor finds trades itself by comparing the order list on a timer.
- Network via WebRequest. The server address goes into the list of allowed URLs on the «Expert Advisors» tab of the «Options» window. WebRequest does not run in the strategy tester and is prohibited in indicators, which is why a monitor is an EA, not an indicator.
What Davinchu does
Davinchu Trade Monitor 1.0.0 for MetaTrader 4 is a read-only EA: it never trades and needs neither AutoTrading nor DLLs. Davinchu connects accounts with any forex and CFD broker on MetaTrader 4 and 5, prop firms included; for MT4 it is this EA.
- Data every few seconds. The EA checks orders every second and sends every new and closed trade, balance, equity, free margin, margin level, floating result and open positions to the dashboard.
- History and money. Closed positions from the «Account History» — with prices, volume, profit, swap, commission, magic and SL/TP; every 15 minutes the EA sends whatever closed without it. Deposits and withdrawals — the last 32 operations and every new one: Davinchu calculates equity drawdown from account snapshots, and money moves do not distort it.
- A dashboard on the chart. Connection to the dashboard, balance, equity, free margin, margin level, floating result and current drawdown — the floating loss against balance (in the example above 550 / 10,000 = 5.5%), results for today, the week and the month with the number of trades and the share of winners, open positions, deposits and withdrawals for the month.
- Journal and analytics. Closed trades go into the trade journal by themselves — you add the setup, emotions before and after, the mistake and tags, and account analytics calculates growth, equity drawdown and profit factor.
- Notifications. For an MT4 account the dashboard itself reports trades opened and closed — to Telegram, email or Discord («How to connect Telegram»). If the EA stops reporting, «Account connection lost» arrives after about 10 minutes, and «Account connection restored» with the outage length once it is back. The alert is critical and comes even during quiet hours.
- A public link. In the account «Settings», on the «Permissions» tab, make «Account» public and choose what the link shows: «Balance», «Trading history», «Lots», «SL / TP», «Open trades», «Account number». The link opens the statement without signing in — how to present it to an investor is covered in «How to show trading results to an investor».
The T-Manager risk manager for MetaTrader 4 is in development; for MetaTrader 5 it already works. Everything about monitoring is on the «Account monitoring» page, the platform differences are in «MT4 vs MT5: the differences and which to choose», and the options for the fifth version are in «MT5 account monitoring: 4 ways and which to choose». The Free plan connects two accounts at no cost.