The meta rig isn’t meant to be the actual rig for your character. After you place the meta rig bones, look for the Rigify Buttons panel, down at the bottom of the armature object properties (there is only one button) and press “Generate”. Give it time to work, might take a while. Once complete, you will have a rigify rig which is properly set up, named, with control surfaces, a control panel and animation controls, all the fixins, just like Thanksgiving dinner.
IMPORTANT: before you press that button, go into File>>Blender User Preferences>>File Tab>>Auto Execution and make sure the Auto Run Python Scripts checkbox is checked. The Blender default is unchecked, to NOT run python scripts (as a computer security measure) so you have to turn this on before you use Rigify, which relies on python scripting.
Check out this tutorial Quick Rigging With Rigify in Blender for a more comprehensive explanation.