MetaTrader 4 (MT4) was released 15 years ago. But after all these years, MT4 maintained its popularity. It is still one of the many trading platforms and most trusted by Forex traders all over the world. This trading platform is quite easy to use making it suitable for newbies and experienced traders.
Advantages of MetaTrader 4
MetaQuotes, the developer of MetaTrader, describes MT4 as a ‘platform for automated trading’. Being simple and easy to understand, this trading platform provides opportunities for customization without sacrificing comfortable usage among traders. MT4 can also work in different operating systems. Aside from the web version, it can also be downloaded on your mobile devices for both Android and iOS. This makes trading so convenient and on-the-go. You won’t have to sit in front of your PC to monitor the market because you can now do it on your mobile phones. All you need is a stable internet connection and the downloaded application of MT4. The popularity of MT4 has been seen by the number of traders using this trading platform in different parts of the world.
Trading Is Flexible and Convenient
The MT4 trading platform is so powerful that it handles complexity and strategies so well. Some of the most useful tools in this trading platform are Instant Execution, Market and pending orders, stop orders, trailing stops, tick charts, and even your trading history can be viewed.
- 2 stop orders and trailing stop
- 3 execution modes
- 4 pending orders
- 2 market orders
If you are not very confident with your trading strategy, you can try it in a risk-free environment. You can trade on a demo account. This way, you can be sure that you are doing the right thing before you actually enter a trade on the currency market. You won’t lose anything when you use a simulator, instead, you will gain a tested trading strategy.
One of the main benefits that MT4 can give its user is its user-friendly interface. New traders who want to learn to use the trading platform can do so in a matter of 1-2 days. That’s quick and simple. It also provides real-time data which includes indicators and signals. Being aware of the market news lets you trade more effectively. There are also a whole bunch of technical tools such as currency quotes, online news, graphical and technical analysis and so much more. It makes trading more convenient and profitable.
MetaTrader 4 Analytics
Another strong point of MetaTrader 4 is its analytical functions. The interactive charts and online quotes which have 9 periods allow the examining of quotes quickly against any price changes. The 23 analytical tools together with the 30 technical indicators already built-in on the platform simplify your trading task.
The built-in Market, as well as the free CodeBase, allows access to thousands of indicators which raises the number of analytical options. Even small movements in the market will get detected by these analytical tools and could react directly in a suitable manner.
- 30 technical indicators
- Interactive charts
- 23 analytical objects
- 9 timeframes