Click on Setting to change folder. You will see it during installation. That's new.
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I maintain several separate installations of MT4 on the one machine (one for development, one for testing, one for trading etc). I have just tried to install a new instance using the latest MT4 setup file. It doesn't prompt for the installation program group and simply produces the default installation.
Am I missing something or is this a major bug that is going to affect a lot of users?