MetaTrader 4: What is it – and how to benefit the trader?

It began first appearing in 2005. Since then MetaTrader 4 (MT4) has become a widely used automatic electronic trading platform. So what is it – and its features can make a positive difference on your trade activities?

 

How does MT4 work?

MT4 is a trading platform developed by the company named metaquotes, even if you have never heard of that company name before. But if you explore some popular brokers there (ETX Capital and Binary.com to name only two people) you are likely to meet.

 

Most often in conjunction with trading forex MT4 can also be used in trading products and indexes through distributed betting or CFDs and futures markets. It applies to a license by many brokers and essentially, consisting of the interface for placing and managing your trade. In addition, the platform also has many tools for placing automated trading techniques – including price and market analysis.

While some brokers offer other basic MT4 experiences. Other improvements with special custom tool kits, so MT4 is like an Android smartphone. Its basic feelings, whether any version Although some manufacturers are more inclined than others to add their own touch.

Many brokers offer MT4 as an alternative vehicle for trading along with their proprietary platform. Have good trade reasons for this Due to the familiarity among traders, it is a good way to attract new customers.

From the perspective of the trader, getting to know that the platform is reasonable. If you see that you change the broker, the universality of it means that if you want to jump from one broker to another, assuming that both platforms are trading MT4, you can change without having to face a new learning experience.

MT4 platform

Although MT4 can be downloaded directly from metaquotes,  it is more appropriate to use the downloads received from the broker. You are considering (or used) which means that in general, any free update that the broker is ready and waiting for you.

Conduct trading

This is a straightforward process. For the currency exchange, you go to the new order button on the platform toolbar. Choose your currency pair. Enter the size of your location. Choose to buy and sell your restrictions and stops, including loss restrictions and goals. profit

Use MetaTrader 4 Automation – EA

Expert consultants (or “EA”) are programs that you use to work on trading platforms to perform certain actions on your behalf if they meet the specified criteria. If you use an EA that is not available, you should check. Make sure it comes from a reliable and reliable source with MT4. You can create your own EA or store ready-made programs and make EA work by dragging to your synchronization. Importantly, this platform also allows you to test EA and deploy in demo mode before you risk your funding.

Understand the MT4 indicator

From both brokers and MT4 traders can be highly customizable. Brokers are free to add their own indicators to the top platform menu of what already exists.

Traders just go to the menu. Select the desired indicator to add to your own chart and how they want each indicator to be seen in terms of style and color of the line.

Briefly said that MT4 allows traders to control the information that must rely on and the presentation method.

Why use MetaTrader4 other benefits:

Other reasons that make MT4 become marketable standards include:

  • Large user community – If you have a technical question – or looking for a different perspective on the best indicators that will be used in your trade activities, there is a foreign user community to help. Whether you are a beginner trader or may be an experienced merchant looking for your own automated trading aid, the MQL4 community website should be worth visiting.
  • Charts that you can trust – Ability Trading and combining charts of the platform means that trading simultaneously while marketing analysis becomes an uncomplicated process. You can be sure that the current price you are watching is current.
  • Stable, safe and mobile – under the hood MT4 is a relatively simple platform. Not the type of system that will keep the value in the device you install. With simplicity, stability comes; One of the reasons that this broker and trader provide support is that it should not be cut off, making you unable to respond to important trading. The top of the desktop version has a stable and secure variable for Android, iOS (Mac) and Linux.